AllianceBernstein Global High Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE
MWN-AI** Summary
AllianceBernstein Global High Income Fund, Inc. (NYSE: AWF) recently provided its monthly portfolio update, reflecting its position as of May 31, 2025. The fund's portfolio comprises a diverse range of fixed-income securities, with its top holdings prominently featuring U.S. Treasury Notes and securities from CCO Holdings and EchoStar Corp.
As of the latest update, the fund has allocated 79.17% of its total investments in corporates, split between investment-grade and non-investment-grade categories. Non-investment grade corporate bonds make up a substantial portion of the portfolio, including significant investments in sectors like industrials, consumer non-cyclical, and communications. The fund continues to demonstrate a strong emphasis on high-yield bonds, which typically offer higher returns reflective of their increased risk.
The distribution of geographical exposure illustrates a strong U.S. orientation, accounting for 67.62% of total investments, followed by France and the UK at 3.49% and 3.04%, respectively. The fund has diversified its holdings globally, covering emerging markets and developed economies alike.
In terms of credit ratings, the fund's holdings are heavily weighted towards BB rated bonds at 43.85%, followed by a notable amount in B and CCC rated securities, making it sensitive to credit fluctuations. The average bond price stands at 95.54, with an average coupon of 7.66%, which may attract income-focused investors.
With total net assets of approximately $971.97 million and a net asset value of $11.27, the fund continues to utilize certain portfolio management techniques, including derivatives, while maintaining a portfolio turnover of 68%. Overall, the update reflects a strategic positioning aimed at capturing high yields amidst the prevailing market conditions.
MWN-AI** Analysis
The AllianceBernstein Global High Income Fund, Inc. (NYSE: AWF) continues to present a portfolio that balances risk and returns effectively, showcasing its diverse fixed-income holdings. As of May 31, 2025, the Fund has strategically allocated nearly 80% of its portfolio to corporates, with a significant emphasis on non-investment grade sectors such as industrials and communications. This approach may attract investors looking for higher yield opportunities; however, caution is warranted given the inherent risks associated with lower-rated bonds.
The Fund's reliance on sectors like energy and consumer non-cyclical, each holding over 6% of the portfolio, aligns well with the current economic landscape, where demand for essential products and services can provide some stability. Additionally, the inclusion of U.S. Treasury notes (1.08%) suggests a buffer against volatility—an essential consideration as interest rates fluctuate.
The average coupon rate of 7.66% indicates the potential for attractive income. However, with a net asset value (NAV) of $11.27 and a total net asset value of approximately $972 million, investors should also be mindful of the fund's expenses and potential fees that could impact yield.
Moreover, the effective duration of 2.98 years suggests a sensitivity to interest rate changes that investors must consider in a rising rate environment. As rates are projected to increase further, the Fund's strategy of managing maturity exposure could be advantageous, particularly with nearly 70% of bonds maturing in 1 to 5 years.
Investors are advised to maintain a balanced perspective; while AWF provides opportunities for income and some growth, the high exposure to riskier assets demands a thorough risk assessment. Overall, diversifying holdings and considering individual risk tolerances may complement an investment in AllianceBernstein's Global High Income Fund.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
NEW YORK , June 23, 2025 /PRNewswire/ -- AllianceBernstein Global High Income Fund, Inc. [NYSE: AWF] (the "Fund") today released its monthly portfolio update as of May 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) CCO Holdings 4.50%, 08/15/30 - 06/01/33 | 0.84 % | |
3) CCO Holdings 4.75%, 02/01/32 | 0.67 % | |
4) EchoStar Corp. 10.75%, 11/30/29 | 0.58 % | |
5) Royal Caribbean Cruises 5.50%, 08/31/26 - 04/01/28 | 0.57 % | |
6) Altice France SA 5.125%, 01/15/29 - 07/15/29 | 0.56 % | |
7) AMMC CLO 25 Ltd. 11.006%, 04/15/35 | 0.51 % | |
8) DaVita, Inc. 4.625%, 06/01/30 | 0.50 % | |
9) Bausch Health Cos., Inc. 11.00%, 09/30/28 | 0.44 % | |
10) Societe Generale SA 5.512%, 05/22/31 | 0.43 % | |
Investment Type | Portfolio % | |
Corporates - Non-Investment Grade | ||
Industrial | ||
Consumer Non-Cyclical | 7.24 % | |
Communications - Media | 7.02 % | |
Energy | 6.56 % | |
Capital Goods | 4.65 % | |
Communications - Telecommunications | 4.55 % | |
Basic | 4.18 % | |
Consumer Cyclical - Other | 3.83 % | |
Consumer Cyclical - Retailers | 3.53 % | |
Services | 3.34 % | |
Consumer Cyclical - Automotive | 2.14 % | |
Technology | 1.95 % | |
Transportation - Services | 1.88 % | |
Transportation - Airlines | 0.88 % | |
Consumer Cyclical - Restaurants | 0.66 % | |
Consumer Cyclical - Entertainment | 0.52 % | |
Other Industrial | 0.40 % | |
Transportation - Railroads | 0.04 % | |
SUBTOTAL | 53.37 % | |
Credit Default Swaps | 17.77 % | |
Financial Institutions | ||
Finance | 2.45 % | |
Brokerage | 1.28 % | |
REITs | 1.22 % | |
Financial Services | 0.90 % | |
Insurance | 0.68 % | |
Banking | 0.44 % | |
SUBTOTAL | 6.97 % | |
Utility | ||
Electric | 0.92 % | |
Natural Gas | 0.14 % | |
SUBTOTAL | 1.06 % | |
SUBTOTAL | 79.17 % | |
Corporates - Investment Grade | ||
Industrial | ||
Communications - Media | 1.51 % | |
Energy | 1.45 % | |
Consumer Cyclical - Other | 1.23 % | |
Basic | 0.95 % | |
Consumer Cyclical - Entertainment | 0.95 % | |
Consumer Cyclical - Automotive | 0.67 % | |
Consumer Non-Cyclical | 0.47 % | |
Consumer Cyclical - Retailers | 0.27 % | |
Transportation - Airlines | 0.25 % | |
Transportation - Services | 0.16 % | |
Other Industrial | 0.07 % | |
Transportation - Railroads | 0.03 % | |
Services | 0.02 % | |
SUBTOTAL | 8.03 % | |
Financial Institutions | ||
Banking | 3.65 % | |
Finance | 0.52 % | |
Insurance | 0.46 % | |
REITs | 0.43 % | |
Brokerage | 0.14 % | |
SUBTOTAL | 5.20 % | |
Utility | ||
Electric | 1.02 % | |
Other Utility | 0.05 % | |
SUBTOTAL | 1.07 % | |
SUBTOTAL | 14.30 % | |
Emerging Markets - Corporate Bonds | ||
Industrial | ||
Basic | 1.79 % | |
Energy | 1.05 % | |
Consumer Cyclical - Other | 0.99 % | |
Consumer Non-Cyclical | 0.76 % | |
Capital Goods | 0.39 % | |
Communications - Telecommunications | 0.16 % | |
Transportation - Services | 0.12 % | |
Communications - Media | 0.07 % | |
Consumer Cyclical - Retailers | 0.05 % | |
Other Industrial | 0.03 % | |
SUBTOTAL | 5.41 % | |
Utility | ||
Electric | 0.43 % | |
Other Utility | 0.10 % | |
SUBTOTAL | 0.53 % | |
Financial Institutions | ||
Banking | 0.22 % | |
SUBTOTAL | 0.22 % | |
SUBTOTAL | 6.16 % | |
Bank Loans | ||
Industrial | ||
Technology | 1.40 % | |
Consumer Non-Cyclical | 1.09 % | |
Communications - Media | 0.79 % | |
Communications - Telecommunications | 0.40 % | |
Capital Goods | 0.37 % | |
Consumer Cyclical - Retailers | 0.25 % | |
Transportation - Airlines | 0.22 % | |
Transportation - Services | 0.17 % | |
Other Industrial | 0.15 % | |
Consumer Cyclical - Automotive | 0.10 % | |
Energy | 0.08 % | |
Consumer Cyclical - Other | 0.05 % | |
Consumer Cyclical - Restaurants | 0.02 % | |
SUBTOTAL | 5.09 % | |
Financial Institutions | ||
Insurance | 0.54 % | |
Brokerage | 0.16 % | |
Financial Services | 0.10 % | |
Banking | 0.02 % | |
SUBTOTAL | 0.82 % | |
Utility | ||
Electric | 0.17 % | |
SUBTOTAL | 0.17 % | |
SUBTOTAL | 6.08 % | |
Interest Rate Futures | 2.78 % | |
Emerging Markets - Sovereigns | ||
Emerging Markets - Sovereigns | 2.52 % | |
Credit Default Swaps | -0.25 % | |
SUBTOTAL | 2.27 % | |
Collateralized Mortgage Obligations | ||
Risk Share Floating Rate | 1.27 % | |
Non-Agency Fixed Rate | 0.30 % | |
Non-Agency Floating Rate | 0.28 % | |
Agency Fixed Rate | 0.19 % | |
SUBTOTAL | 2.04 % | |
U.S. Govt & Agency Securities | 1.64 % | |
Collateralized Loan Obligations | ||
CLO - Floating Rate | 1.62 % | |
SUBTOTAL | 1.62 % | |
Quasi-Sovereigns | ||
Quasi-Sovereign Bonds | 1.62 % | |
SUBTOTAL | 1.62 % | |
EM Government Agencies | 0.49 % | |
Local Governments - US Municipal Bonds | 0.39 % | |
Emerging Markets - Treasuries | 0.26 % | |
Inflation-Linked Securities | 0.25 % | |
Commercial Mortgage-Backed Securities | ||
Non-Agency Fixed Rate CMBS | 0.25 % | |
SUBTOTAL | 0.25 % | |
Asset-Backed Securities | ||
Other ABS - Floating Rate | 0.16 % | |
Autos - Fixed Rate | 0.06 % | |
SUBTOTAL | 0.22 % | |
Common Stocks | 0.16 % | |
Preferred Stocks | ||
Industrials | 0.11 % | |
SUBTOTAL | 0.11 % | |
Governments - Sovereign Agencies | 0.05 % | |
Reverse Repurchase Agreements | -0.92 % | |
Cash & Cash Equivalents | ||
Funds and Investment Trusts | 0.96 % | |
Cash | -0.12 % | |
SUBTOTAL | 0.84 % | |
Derivative Offsets | ||
Futures Offsets | -2.73 % | |
Swap Offsets | -17.05 % | |
SUBTOTAL | -19.78 % | |
TOTAL | 100.00 % | |
Country Breakdown | Portfolio % | |
United States | 67.62 % | |
France | 3.49 % | |
United Kingdom | 3.04 % | |
Canada | 2.59 % | |
Brazil | 1.88 % | |
Mexico | 1.78 % | |
Italy | 1.33 % | |
Germany | 1.14 % | |
Spain | 1.13 % | |
Colombia | 1.09 % | |
India | 0.94 % | |
Australia | 0.87 % | |
Turkey | 0.79 % | |
Luxembourg | 0.74 % | |
Israel | 0.69 % | |
Chile | 0.63 % | |
Netherlands | 0.63 % | |
South Africa | 0.62 % | |
Nigeria | 0.60 % | |
Angola | 0.55 % | |
Hong Kong | 0.52 % | |
Macau | 0.51 % | |
Dominican Republic | 0.40 % | |
Ireland | 0.39 % | |
Indonesia | 0.34 % | |
China | 0.33 % | |
Norway | 0.33 % | |
Peru | 0.33 % | |
Finland | 0.31 % | |
Kazakhstan | 0.30 % | |
Puerto Rico | 0.30 % | |
Switzerland | 0.28 % | |
Egypt | 0.25 % | |
Slovenia | 0.22 % | |
Zambia | 0.21 % | |
Jersey (Channel Islands) | 0.20 % | |
Panama | 0.19 % | |
Romania | 0.18 % | |
Senegal | 0.18 % | |
El Salvador | 0.12 % | |
Azerbaijan | 0.11 % | |
Guatemala | 0.11 % | |
Cayman Islands | 0.10 % | |
Uzbekistan | 0.10 % | |
Ecuador | 0.09 % | |
Malaysia | 0.08 % | |
Ukraine | 0.08 % | |
Argentina | 0.05 % | |
Jamaica | 0.05 % | |
Austria | 0.04 % | |
Czech Republic | 0.04 % | |
Kuwait | 0.04 % | |
Morocco | 0.04 % | |
Serbia | 0.03 % | |
Japan | 0.02 % | |
Trinidad and Tobago | 0.02 % | |
Cash & Cash Equivalents | 0.96 % | |
Total Investments | 100.00 % | |
Net Currency Exposure Breakdown | Portfolio % | |
US Dollar | 100.16 % | |
Pound Sterling | 0.20 % | |
Canadian Dollar | 0.19 % | |
Norwegian Krone | 0.02 % | |
Brazilian Real | 0.01 % | |
Colombian Peso | 0.01 % | |
Indonesian Rupiah | 0.01 % | |
South African Rand | 0.01 % | |
Swiss Franc | -0.01 % | |
Czech Koruna | -0.01 % | |
Hungarian Forint | -0.01 % | |
Mexican Peso | -0.01 % | |
Polish Zloty | -0.01 % | |
Singapore Dollar | -0.01 % | |
Euro | -0.55 % | |
Total Net Assets | 100.00 % | |
Credit Rating | Portfolio % | |
AAA | 2.38 % | |
AA | -1.33 % | |
A | 1.03 % | |
BBB | 15.86 % | |
BB | 43.85 % | |
B | 25.84 % | |
CCC | 8.18 % | |
CC | 0.09 % | |
C | 0.14 % | |
Not Rated | 2.45 % | |
Short Term Investments | 0.96 % | |
Reverse Repurchase Agreements | -0.92 % | |
N/A | 1.47 % | |
Total | 100.00 % | |
Bonds by Maturity | Portfolio % | |
Less than 1 Year | 7.00 % | |
1 to 5 Years | 69.40 % | |
5 to 10 Years | 19.43 % | |
10 to 20 Years | 2.15 % | |
20 to 30 Years | 0.97 % | |
More than 30 Years | 0.89 % | |
Other | 0.16 % | |
Total Net Assets | 100.00 % | |
Portfolio Statistics: | ||
Average Coupon: | 7.66 % | |
Average Bond Price: | 95.54 | |
Percentage of Leverage(based on gross assets): | ||
Bank Borrowing: | 0.00 % | |
Investment Operations:* | 18.61 % | |
Preferred Stock: | 0.00 % | |
Tender Option Bonds: | 0.00 % | |
VMTP Shares: | 0.00 % | |
VRDP Shares: | 0.00 % | |
Total Fund Leverage: | 18.61 % | |
Average Maturity: | 4.51 Years | |
Effective Duration: | 2.98 Years | |
Total Net Assets: | $971.97 Million | |
Net Asset Value: | $11.27 | |
Total Number of Holdings: | 1,241 | |
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. |
SOURCE AllianceBernstein Global High Income Fund, Inc.
FAQ**
How does the recent portfolio update of the AllianceBernstein Global High Income Fund AWF reflect changes in its top fixed-income holdings compared to previous months, particularly regarding U.S. Treasury Notes and corporate bonds?
What investment strategies are being employed by the AllianceBernstein Global High Income Fund AWF to manage its exposure to credit default swaps, and how might this impact overall portfolio risk in the current market environment?
Given the recent portfolio statistics for the AllianceBernstein Global High Income Fund AWF, what are the implications of its average maturity and effective duration on its interest rate risk profile?
How does the geographic distribution of the AllianceBernstein Global High Income Fund AWF's investments inform potential risks and opportunities, especially in emerging markets and within its U.S. holdings?
**MWN-AI FAQ is based on asking OpenAI questions about Alliancebernstein Global High Income Fund (NYSE: AWF).
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