AllianceBernstein Global High Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE

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AllianceBernstein Global High Income Fund (NYSE: AWF) released its monthly portfolio update as of December 31, 2025. Key portfolio metrics: Total net assets $985.24 million, NAV $11.43, Total fund leverage 13.33%, Average coupon 7.24%, Effective duration 2.89 years, and Average maturity 4.13 years. The fund holds 1,243 positions with total investments 100.00%. Credit mix is tilted toward below-investment-grade: BB 45.40%, B 23.55%, CCC 7.79%. Major allocations: corporates non-investment grade ~53.49% plus credit default swaps 13.47%. Geographic exposure is concentrated in the U.S. 66.09%. Portfolio turnover is 68.00%.

Positive

• Average coupon of 7.24% (higher income potential)
• Effective duration 2.89 years (lower rate sensitivity)
• Total net assets $985.24 million (meaningful scale)
• 1,243 holdings (broad diversification)

Negative

• High below-investment-grade exposure: BB+B+CCC = 76.74% of portfolio
• Fund leverage 13.33% (amplifies risk and returns)
• Portfolio turnover 68.00% (potentially higher trading costs)

News Market Reaction

+0.19%

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+0.19% News Effect

On the day this news was published, AWF gained 0.19%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, Jan. 26, 2026 /PRNewswire/ -- AllianceBernstein Global High Income Fund, Inc. [NYSE: AWF] (the "Fund") today released its monthly portfolio update as of December 31, 2025.

AllianceBernstein Global High Income Fund, Inc.
Top 10 Fixed-Income Holdings		Portfolio %
1) U.S. Treasury Notes 2.25%, 02/15/27		1.08 %
2) 1261229 BC Ltd. 10.00%, 04/15/32		0.58 %
3) DaVita, Inc. 4.625%, 06/01/30		0.47 %
4) Societe Generale SA 5.512%, 05/22/31		0.44 %
5) Advance Auto Parts, Inc. 7.00%, 08/01/30		0.43 %
6) Dominican Republic Intl Bond 8.625%, 04/20/27		0.40 %
7) Tenet Healthcare Corp. 5.50%, 11/15/32		0.40 %
8) Millennium Escrow Corp. 6.625%, 08/01/26		0.38 %
9) TransDigm, Inc. 6.00%, 01/15/33		0.38 %
10) Allied Universal Holdco/Allied Universal Finance Corp. 4.625%, 06/01/28		0.38 %
Investment Type		Portfolio %
Corporates - Non-Investment Grade
Industrial
Consumer Non-Cyclical		7.67 %
Energy		6.35 %
Communications - Media		5.96 %
Consumer Cyclical - Retailers		4.72 %
Capital Goods		4.53 %
Consumer Cyclical - Other		4.50 %
Basic		3.51 %
Communications - Telecommunications		3.35 %
Services		3.15 %
Consumer Cyclical - Automotive		2.70 %
Technology		2.37 %
Transportation - Services		1.86 %
Consumer Cyclical - Entertainment		0.78 %
Other Industrial		0.76 %
Consumer Cyclical - Restaurants		0.72 %
Transportation - Airlines		0.55 %
Transportation - Railroads		0.01 %
SUBTOTAL		53.49 %
Credit Default Swaps		13.47 %
Financial Institutions
Finance		2.43 %
Financial Services		1.38 %
REITs		1.09 %
Brokerage		1.02 %
Insurance		0.66 %
Banking		0.42 %
SUBTOTAL		7.00 %
Utility
Electric		1.12 %
Natural Gas		0.05 %
SUBTOTAL		1.17 %
SUBTOTAL		75.13 %
Corporates - Investment Grade
Industrial
Energy		2.05 %
Consumer Cyclical - Other		1.56 %
Basic		0.89 %
Consumer Cyclical - Automotive		0.79 %
Consumer Non-Cyclical		0.71 %
Consumer Cyclical - Entertainment		0.60 %
Communications - Media		0.58 %
Technology		0.25 %
Consumer Cyclical - Retailers		0.21 %
Communications - Telecommunications		0.19 %
Transportation - Services		0.18 %
Transportation - Airlines		0.11 %
Other Industrial		0.07 %
Transportation - Railroads		0.03 %
Services		0.02 %
SUBTOTAL		8.24 %
Financial Institutions
Banking		3.67 %
REITs		0.67 %
Insurance		0.64 %
Finance		0.47 %
Brokerage		0.13 %
SUBTOTAL		5.58 %
Utility
Electric		0.96 %
Other Utility		0.05 %
SUBTOTAL		1.01 %
SUBTOTAL		14.83 %
Emerging Markets - Corporate Bonds
Industrial
Basic		1.57 %
Energy		1.14 %
Consumer Cyclical - Other		0.90 %
Consumer Non-Cyclical		0.58 %
Transportation - Services		0.20 %
Capital Goods		0.16 %
Communications - Telecommunications		0.16 %
Communications - Media		0.02 %
Services		0.02 %
SUBTOTAL		4.75 %
Utility
Electric		0.59 %
Other Utility		0.15 %
SUBTOTAL		0.74 %
Financial Institutions
Banking		0.25 %
Finance		0.05 %
REITs		0.05 %
SUBTOTAL		0.35 %
SUBTOTAL		5.84 %
Bank Loans
Industrial
Technology		1.59 %
Communications - Media		0.69 %
Consumer Non-Cyclical		0.67 %
Communications - Telecommunications		0.39 %
Capital Goods		0.20 %
Transportation - Services		0.17 %
Consumer Cyclical - Retailers		0.13 %
Consumer Cyclical - Other		0.12 %
Other Industrial		0.11 %
Transportation - Airlines		0.10 %
Consumer Cyclical - Automotive		0.08 %
Basic		0.05 %
SUBTOTAL		4.30 %
Financial Institutions
Insurance		0.29 %
Financial Services		0.24 %
Brokerage		0.15 %
Finance		0.15 %
Banking		0.02 %
SUBTOTAL		0.85 %
SUBTOTAL		5.15 %
Emerging Markets - Sovereigns
Emerging Markets - Sovereigns		3.14 %
Credit Default Swaps		-0.25 %
SUBTOTAL		2.89 %
Interest Rate Futures		2.41 %
U.S. Govt & Agency Securities		1.65 %
Collateralized Mortgage Obligations
Risk Share Floating Rate		0.88 %
Non-Agency Fixed Rate		0.28 %
Non-Agency Floating Rate		0.25 %
Agency Fixed Rate		0.16 %
SUBTOTAL		1.57 %
Quasi-Sovereigns
Quasi-Sovereign Bonds		1.42 %
SUBTOTAL		1.42 %
EM Governments		0.69 %
Asset-Backed Securities
Other ABS - Fixed Rate		0.26 %
Other ABS - Floating Rate		0.10 %
Autos - Fixed Rate		0.02 %
SUBTOTAL		0.38 %
Local Governments - US Municipal Bonds		0.38 %
Common Stocks		0.33 %
Inflation-Linked Securities		0.28 %
Emerging Markets - Treasuries		0.27 %
Collateralized Loan Obligations
CLO - Floating Rate		0.21 %
SUBTOTAL		0.21 %
Commercial Mortgage-Backed Securities
Non-Agency Fixed Rate CMBS		0.17 %
SUBTOTAL		0.17 %
Governments - Sovereign Agencies		0.05 %
Preferred Stocks
Industrials		0.03 %
SUBTOTAL		0.03 %
Rights
Industrial		0.01 %
SUBTOTAL		0.01 %
Forward Currency Exchange Contracts
Currency Instruments		-0.09 %
SUBTOTAL		-0.09 %
Reverse Repurchase Agreements		-0.45 %
Cash & Cash Equivalents
Funds and Investment Trusts		1.24 %
Cash		1.19 %
SUBTOTAL		2.43 %
Derivative Offsets
Futures Offsets		-2.39 %
Swap Offsets		-13.19 %
SUBTOTAL		-15.58 %
TOTAL		100.00 %
Country Breakdown		Portfolio %
United States		66.09 %
United Kingdom		3.31 %
France		2.96 %
Canada		2.89 %
Mexico		1.72 %
Brazil		1.45 %
Italy		1.28 %
Spain		1.25 %
Colombia		1.12 %
India		1.09 %
Germany		1.03 %
Turkey		0.91 %
South Africa		0.84 %
Luxembourg		0.82 %
Australia		0.72 %
Hong Kong		0.67 %
Nigeria		0.64 %
Chile		0.56 %
Israel		0.54 %
Japan		0.53 %
Ireland		0.42 %
Argentina		0.40 %
Dominican Republic		0.40 %
Finland		0.38 %
Netherlands		0.38 %
Peru		0.37 %
Denmark		0.36 %
Macau		0.35 %
Norway		0.35 %
China		0.34 %
Romania		0.34 %
Indonesia		0.31 %
Jersey (Channel Islands)		0.29 %
Puerto Rico		0.29 %
Switzerland		0.28 %
Egypt		0.27 %
Senegal		0.27 %
Guatemala		0.26 %
El Salvador		0.25 %
Slovenia		0.23 %
Panama		0.19 %
Ecuador		0.16 %
Kazakhstan		0.16 %
Uzbekistan		0.16 %
Zambia		0.16 %
Kenya		0.15 %
Angola		0.14 %
Azerbaijan		0.11 %
Poland		0.10 %
Ukraine		0.10 %
Malaysia		0.08 %
Trinidad and Tobago		0.06 %
Greece		0.05 %
Jamaica		0.05 %
Morocco		0.05 %
Kuwait		0.04 %
Serbia		0.03 %
Cash & Cash Equivalents		1.25 %
Total Investments		100.00 %
Net Currency Exposure Breakdown		Portfolio %
US Dollar		100.25 %
Canadian Dollar		0.19 %
Pound Sterling		0.15 %
Brazilian Real		0.02 %
Norwegian Krone		0.02 %
South African Rand		0.01 %
Chilean Peso		-0.01 %
Colombian Peso		-0.01 %
Czech Koruna		-0.01 %
Euro		-0.61 %
Total Net Assets		100.00 %
Credit Rating		Portfolio %
AAA		2.40 %
AA		-1.19 %
A		0.90 %
BBB		15.36 %
BB		45.40 %
B		23.55 %
CCC		7.79 %
CC		0.27 %
C		0.11 %
D		0.07 %
Not Rated		2.08 %
Short Term Investments		1.24 %
Reverse Repurchase Agreements		-0.45 %
N/A		2.47 %
Total		100.00 %
Bonds by Maturity		Portfolio %
Less than 1 Year		14.63 %
1 to 5 Years		65.46 %
5 to 10 Years		15.00 %
10 to 20 Years		2.87 %
20 to 30 Years		0.84 %
More than 30 Years		0.87 %
Other		0.33 %
Total Net Assets		100.00 %
Portfolio Statistics:
Average Coupon:		7.24 %
Average Bond Price:		98.29
Percentage of Leverage(based on gross assets):
Bank Borrowing:		0.00 %
Investment Operations:*		13.33 %
Preferred Stock:		0.00 %
Tender Option Bonds:		0.00 %
VMTP Shares:		0.00 %
VRDP Shares:		0.00 %
Total Fund Leverage:		13.33 %
Average Maturity:		4.13 Years
Effective Duration:		2.89 Years
Total Net Assets:		$985.24 Million
Net Asset Value:		$11.43
Total Number of Holdings:		1,243
Portfolio Turnover:		68.00 %
* 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 AllianceBernstein Global High Income Fund, Inc.

FAQ

What is AWF's Net Asset Value and total net assets as of December 31, 2025?

AWF reported a NAV of $11.43 and total net assets of $985.24 million as of December 31, 2025.

How much leverage does AllianceBernstein Global High Income Fund (AWF) use?

The fund reported total fund leverage of 13.33%, primarily from investment operations.

What is AWF's credit-quality profile as of the December 2025 update?

AWF is concentrated in below‑investment‑grade credit: BB 45.40%, B 23.55%, CCC 7.79%.

What are AWF's interest-rate sensitivity and average coupon?

AWF has an effective duration of 2.89 years and an average coupon of 7.24%.

How diversified is AWF's portfolio by number of holdings and country exposure?

The fund holds 1,243 positions with 66.09% of assets in the United States and smaller allocations across 50+ other countries.

What portion of AWF's bonds mature within 1 to 5 years?

Bonds maturing in 1 to 5 years make up 65.46% of the portfolio by maturity bucket.