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AllianceBernstein Global High Income Fund Monthly Portfolio Update

On July 28, 2025, AllianceBernstein Global High Income Fund, Inc. (NYSE: AWF) announced its monthly portfolio update for the period ending June 30, 2025. This update is crucial for investors looking to understand the fund's recent performance and holdings.

Key Holdings and Investment Strategy

The fund's portfolio reflects a diverse range of fixed-income investments. Here are some highlights:

1. U.S. Treasury Notes (2.25%, 02/15/27): 1.07% of the portfolio
2. CCO Holdings (4.50%, 08/15/30 - 06/01/33): 0.84%
3. Royal Caribbean Cruises (5.50%, 08/31/26 - 04/01/28): 0.56%
4. DaVita, Inc. (4.625%, 06/01/30): 0.46%
5. Bausch Health Cos., Inc. (11.00%, 09/30/28): 0.42%

The investment strategy focuses heavily on non-investment grade corporates, with specific allocations in various sectors:

• - Communications - Media: 8.13%
• - Consumer Non-Cyclical: 7.08%
• - Energy: 6.35%.

The fund has established a mixed allocation across various sectors to mitigate risk while maximizing return potential. The diverse nature of the holdings, from energy to consumer cyclical sectors, indicates a balanced approach aimed at capturing broader market performance.

Credit Quality and Maturity

The credit quality of the portfolio also warrants attention. Here’s the breakdown:

• - BBB rated securities stand at 15.50%,
• - BB rated at 43.99%,
• - And B rated at 25.89%.

This mix highlights a focus on higher yield offerings, balanced with some investment-grade funds.

In terms of maturity, the majority of the portfolio consists of securities maturing in:

• - 1 to 5 Years (69.75%), indicating a preference for shorter-term investments aimed at reducing exposure to interest rate risk.

Geographic Distribution

The fund's geographic allocation reflects a strong position in the U.S. market, comprising 66.12% of total investments, followed by France (3.32%), the UK (3.03%), and Canada (2.95%). This concentration emphasizes the importance of the U.S. market as a stable foundation for the fund's investments while providing some international exposure to enhance diversification.

Conclusion

For investors keeping an eye on the AllianceBernstein Global High Income Fund, this monthly update offers critical insights into the fund’s current allocations and strategies. With a carefully curated portfolio, the fund aims to balance risk with opportunity in various sectors, particularly through a rigorous focus on fixed-income securities. Investors can look forward to further updates to better inform their investment choices as market conditions evolve.

By continuously monitoring and adapting its portfolio composition, AllianceBernstein not only seeks to navigate the complexities of the financial landscape but also strives to deliver competitive returns for investors in a world of changing interest rates and economic uncertainties.