AllianceBernstein Global High Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE
AllianceBernstein Global High Income Fund (AWF) released its monthly portfolio update as of April 30, 2024.
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Rhea-AI Summary
AllianceBernstein Global High Income Fund (AWF) released its monthly portfolio update as of April 30, 2024.
Top holdings include U.S. Treasury Notes (2.25%), CCO Holdings (4.50% and 4.75%), and Dominican Republic Intl Bond (8.625%).
The fund primarily invests in non-investment grade corporate bonds, with significant allocations in industrial (6.96%) and consumer non-cyclical sectors (6.73%).
Country exposure is concentrated in the U.S. (68.36%), with smaller allocations to the UK, France, and others.
The portfolio's average maturity is 5.84 years, with an effective duration of 3.36 years, and a leverage of 19.01%.
The net asset value stands at $11.01, with total net assets of $949.50 million.
Positive
- Significant exposure to U.S. Treasury Notes (1.06%) offering stability.
- High average coupon rate of 7.51% indicating strong income potential.
- Diverse portfolio with 1,340 holdings reducing individual asset risk.
- Effective duration of 3.36 years balancing interest rate risk.
- Strong country diversification with 68.36% in the U.S. and exposure across various nations.
Negative
- High concentration in non-investment grade bonds (41.91% BB, 21.26% B, 7.90% CCC) increasing credit risk.
- Leverage of 19.01% amplifying potential losses during market downturns.
- Exposure to sectors like energy (6.96%) and consumer cyclical (various subcategories totaling over 10%) which can be volatile.
- Credit default swaps and other derivatives (16.41%) can add complexity and risk.
Details
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AllianceBernstein Global High Income Fund, Inc.
Top 10 Fixed-Income Holdings | Portfolio % | |
1) | 1.06 % | |
2) CCO Holdings | 0.63 % | |
3) Dominican Republic Intl Bond | 0.62 % | |
4) CCO Holdings | 0.58 % | |
5) Royal Caribbean Cruises | 0.53 % | |
6) AMMC CLO 25 Ltd. | 0.53 % | |
7) Palmer Square CLO Ltd. | 0.43 % | |
8) Allied Universal Holdco/Allied Universal Finance Corp. | 0.42 % | |
9) Carnival Holdings Bermuda | 0.41 % | |
10) Balboa Bay Loan Funding | 0.39 % | |
Investment Type | Portfolio % | |
Corporates - Non-Investment Grade | ||
Industrial | ||
Energy | 6.96 % | |
Consumer Non-Cyclical | 6.73 % | |
Communications - Media | 6.49 % | |
Capital Goods | 4.29 % | |
Basic | 3.52 % | |
Services | 3.40 % | |
Consumer Cyclical - Other | 3.18 % | |
Consumer Cyclical - Retailers | 2.86 % | |
Technology | 2.76 % | |
Communications - Telecommunications | 2.47 % | |
Consumer Cyclical - Automotive | 2.42 % | |
Consumer Cyclical - Entertainment | 2.27 % | |
Transportation - Services | 1.14 % | |
Transportation - Airlines | 0.84 % | |
Consumer Cyclical - Restaurants | 0.24 % | |
Other Industrial | 0.23 % | |
SUBTOTAL | 49.80 % | |
Credit Default Swaps | 16.41 % | |
Financial Institutions | ||
Finance | 2.24 % | |
REITs | 1.28 % | |
Insurance | 1.07 % | |
Brokerage | 0.82 % | |
Banking | 0.36 % | |
Other Finance | 0.36 % | |
SUBTOTAL | 6.13 % | |
Utility | ||
Electric | 0.48 % | |
Natural Gas | 0.07 % | |
SUBTOTAL | 0.55 % | |
SUBTOTAL | 72.89 % | |
Corporates - Investment Grade | ||
Industrial | ||
Consumer Cyclical - Automotive | 2.13 % | |
Energy | 1.67 % | |
Consumer Non-Cyclical | 1.08 % | |
Communications - Media | 0.99 % | |
Basic | 0.94 % | |
Consumer Cyclical - Other | 0.79 % | |
Capital Goods | 0.41 % | |
Consumer Cyclical - Retailers | 0.29 % | |
Transportation - Services | 0.20 % | |
Consumer Cyclical - Entertainment | 0.12 % | |
Transportation - Airlines | 0.12 % | |
Communications - Telecommunications | 0.09 % | |
Technology | 0.07 % | |
Services | 0.04 % | |
Transportation - Railroads | 0.03 % | |
SUBTOTAL | 8.97 % | |
Financial Institutions | ||
Banking | 6.57 % | |
Insurance | 1.16 % | |
Finance | 0.84 % | |
REITs | 0.17 % | |
Brokerage | 0.16 % | |
SUBTOTAL | 8.90 % | |
Utility | ||
Electric | 1.08 % | |
Other Utility | 0.05 % | |
SUBTOTAL | 1.13 % | |
SUBTOTAL | 19.00 % | |
Emerging Markets - Corporate Bonds | ||
Industrial | ||
Basic | 1.66 % | |
Consumer Cyclical - Other | 1.04 % | |
Consumer Non-Cyclical | 0.77 % | |
Energy | 0.76 % | |
Technology | 0.20 % | |
Consumer Cyclical - Retailers | 0.17 % | |
Capital Goods | 0.16 % | |
Communications - Media | 0.15 % | |
Consumer Cyclical - Automotive | 0.05 % | |
Transportation - Services | 0.05 % | |
Communications - Telecommunications | 0.04 % | |
Services | 0.04 % | |
SUBTOTAL | 5.09 % | |
Utility | ||
Electric | 0.30 % | |
Other Utility | 0.07 % | |
SUBTOTAL | 0.37 % | |
Financial Institutions | ||
Banking | 0.10 % | |
Other Finance | 0.02 % | |
SUBTOTAL | 0.12 % | |
SUBTOTAL | 5.58 % | |
Interest Rate Futures | 4.22 % | |
Collateralized Loan Obligations | ||
CLO - Floating Rate | 3.81 % | |
SUBTOTAL | 3.81 % | |
Collateralized Mortgage Obligations | ||
Risk Share Floating Rate | 2.32 % | |
Non-Agency Fixed Rate | 0.33 % | |
Non-Agency Floating Rate | 0.30 % | |
Agency Fixed Rate | 0.24 % | |
SUBTOTAL | 3.19 % | |
Bank Loans | ||
Industrial | ||
Consumer Non-Cyclical | 0.55 % | |
Technology | 0.48 % | |
Communications - Telecommunications | 0.37 % | |
Energy | 0.36 % | |
Communications - Media | 0.27 % | |
Capital Goods | 0.22 % | |
Other Industrial | 0.22 % | |
Consumer Cyclical - Automotive | 0.07 % | |
Consumer Cyclical - Retailers | 0.05 % | |
Transportation - Airlines | 0.05 % | |
Consumer Cyclical - Restaurants | 0.02 % | |
SUBTOTAL | 2.66 % | |
Financial Institutions | ||
Insurance | 0.33 % | |
Finance | 0.02 % | |
SUBTOTAL | 0.35 % | |
Utility | ||
Electric | 0.18 % | |
SUBTOTAL | 0.18 % | |
SUBTOTAL | 3.19 % | |
Emerging Markets - Sovereigns | ||
Emerging Markets - Sovereigns | 2.35 % | |
Credit Default Swaps | 0.27 % | |
SUBTOTAL | 2.62 % | |
Commercial Mortgage-Backed Securities | ||
Credit Default Swaps | 1.28 % | |
Non-Agency Fixed Rate CMBS | 0.39 % | |
Non-Agency Floating Rate CMBS | 0.03 % | |
SUBTOTAL | 1.70 % | |
1.63 % | ||
Quasi-Sovereigns | ||
Quasi-Sovereign Bonds | 1.10 % | |
SUBTOTAL | 1.10 % | |
EM Government Agencies | 0.50 % | |
Asset-Backed Securities | ||
Other ABS - Floating Rate | 0.31 % | |
Autos - Fixed Rate | 0.08 % | |
Other ABS - Fixed Rate | 0.03 % | |
SUBTOTAL | 0.42 % | |
Local Governments - US Municipal Bonds | 0.40 % | |
Inflation-Linked Securities | 0.25 % | |
Common Stocks | 0.15 % | |
Forward Currency Exchange Contracts | ||
Currency Instruments | 0.13 % | |
SUBTOTAL | 0.13 % | |
Preferred Stocks | ||
Industrials | 0.10 % | |
SUBTOTAL | 0.10 % | |
Reverse Repurchase Agreements | -0.84 % | |
Cash & Cash Equivalents | ||
Cash | 1.53 % | |
Funds and Investment Trusts | 0.92 % | |
SUBTOTAL | 2.45 % | |
Derivative Offsets | ||
Futures Offsets | -4.27 % | |
Swap Offsets | -18.22 % | |
SUBTOTAL | -22.49 % | |
TOTAL | 100.00 % | |
Country Breakdown | Portfolio % | |
68.36 % | ||
4.17 % | ||
2.46 % | ||
1.85 % | ||
1.78 % | ||
1.72 % | ||
1.38 % | ||
1.30 % | ||
1.29 % | ||
Luxembourg | 1.29 % | |
1.04 % | ||
0.94 % | ||
0.82 % | ||
0.66 % | ||
0.65 % | ||
0.63 % | ||
0.57 % | ||
0.56 % | ||
0.54 % | ||
0.54 % | ||
0.52 % | ||
0.50 % | ||
0.46 % | ||
0.42 % | ||
0.37 % | ||
0.36 % | ||
0.33 % | ||
0.32 % | ||
0.30 % | ||
0.26 % | ||
0.26 % | ||
0.25 % | ||
0.22 % | ||
0.22 % | ||
0.21 % | ||
0.21 % | ||
0.20 % | ||
0.18 % | ||
Jersey ( | 0.17 % | |
0.14 % | ||
0.11 % | ||
0.10 % | ||
0.08 % | ||
0.06 % | ||
0.05 % | ||
0.05 % | ||
0.04 % | ||
0.04 % | ||
0.04 % | ||
0.03 % | ||
0.02 % | ||
Cash & Cash Equivalents | 0.93 % | |
Total Investments | 100.00 % | |
Net Currency Exposure Breakdown | Portfolio % | |
US Dollar | 100.29 % | |
Canadian Dollar | 0.19 % | |
Pound Sterling | 0.08 % | |
Brazilian Real | 0.01 % | |
Hungarian Forint | 0.01 % | |
Indonesian Rupiah | 0.01 % | |
Norwegian Krone | 0.01 % | |
Swiss Franc | -0.01 % | |
Chinese Yuan Renminbi (Offshore) | -0.01 % | |
Peruvian Sol | -0.01 % | |
Singapore Dollar | -0.01 % | |
Colombian Peso | -0.14 % | |
Euro | -0.42 % | |
Total Net Assets | 100.00 % | |
Credit Rating | Portfolio % | |
AAA | 1.47 % | |
AA | 0.45 % | |
A | 2.94 % | |
BBB | 18.66 % | |
BB | 41.91 % | |
B | 21.26 % | |
CCC | 7.90 % | |
CC | 0.31 % | |
C | 0.08 % | |
D | 0.09 % | |
Not Rated | 2.62 % | |
Short Term Investments | 0.92 % | |
Reverse Repurchase Agreements | -0.84 % | |
N/A | 2.23 % | |
Total | 100.00 % | |
Bonds by Maturity | Portfolio % | |
Less than 1 Year | 5.56 % | |
1 To 5 Years | 57.89 % | |
5 To 10 Years | 30.47 % | |
10 To 20 Years | 3.12 % | |
20 To 30 Years | 1.10 % | |
More than 30 Years | 1.71 % | |
Other | 0.15 % | |
Total Net Assets | 100.00 % | |
Portfolio Statistics: | ||
Average Coupon: | 7.51 % | |
Average Bond Price: | 93.27 | |
Percentage of Leverage(based on gross assets): | ||
Bank Borrowing: | 0.00 % | |
Investment Operations:* | 19.01 % | |
Preferred Stock: | 0.00 % | |
Tender Option Bonds: | 0.00 % | |
VMTP Shares: | 0.00 % | |
Total Fund Leverage: | 19.01 % | |
Average Maturity: | 5.84 Years | |
Effective Duration: | 3.36 Years | |
Total Net Assets: | ||
Net Asset Value: | ||
Total Number of Holdings: | 1,340 | |
Portfolio Turnover: | 40.00 % |
*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
View original content:https://www.prnewswire.com/news-releases/alliancebernstein-global-high-income-fund-inc-releases-monthly-portfolio-update-302155434.html
SOURCE AllianceBernstein Global High Income Fund, Inc.
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