AB Select US Long/Short Portfolio
Data updated: 2026-09-09
C000120612 — AB Select US Long/Short Portfolio. Long-Short · $1.48B AUM · 2.22% expense ratio. Holdings, fees, performance and SEC filings.
C000120612 Fund Overview
AB Select US Long/Short Portfolio is a US mutual fund managed by Ab Cap Fund, Inc., categorised as Long-Short. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ab Cap Fund, Inc.
- Category: Long-Short
- Assets under management: $1.48B
- 1-year return: 13.7%
- SEC CIK: 0000081443
- SEC series ID: S000039195
- Share class ID: C000120612
C000120612 Investment Objective and Strategy
AB Select US Long/Short Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ab Cap Fund, Inc..
Investment objective
The Fund's investment objective is long-term growth of capital.
Principal investment strategy
"Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities of U.S. companies, short positions in such securities, and cash and U.S. cash equivalents. The Adviser selects investments for the Fund's long positions through an intensive ""bottom-up"" approach that places an emphasis on companies that are engaged in business activities with solid long-term growth potential and high barriers to entry, that have strong cash flows and other financial metrics, and that have transparent financial statements and business models. The Adviser also evaluates the quality of company management based on a series of criteria, including: (1) management's focus on shareholder returns, such as through a demonstrated commitment to dividends and dividend growth, share buybacks or other shareholder-friendly corporate actions; (2) management's employment of conservative accounting methodologies; (3) management incentives, such as direct equity ownership; and (4) management accessibility.
The Adviser seeks to identify companies where events or catalysts may drive the company's share price higher, such as earnings and/or revenue growth above consensus forecasts, potential market recognition of undervaluation or overstated market-risk discount, or the institution of any of the shareholder-friendly practices discussed in the preceding sentence. In light of this catalyst-focused approach, the Adviser expects to engage in active and frequent trading for the Fund. The Adviser may reduce or eliminate the Fund's holdings in a company's securities for a number of reasons, including if its evaluation of the above factors changes adversely, if the anticipated events or catalysts do not occur or do not affect the price of the securities as expected, or if the anticipated events or catalysts do occur and cause the securities to be, in the Adviser's view, overvalued or fully valued.
At any given time the Fund may emphasize growth stocks over value stocks, or vice versa. In determining securities to be sold short, the Adviser looks for companies facing near-term difficulties such as high valuations, quality of earnings issues, or weakness in demand due to economic factors or long-term issues such as changing technology or competitive concerns in their industries. The Fund may also sell securities of exchange-traded funds (""ETFs"") short, including to hedge its exposure to specific market sectors or if it believes a specific sector or asset will decline in value. When the Fund sells securities short, it sells a stock that it does not own (but has borrowed) at its current market price in anticipation that the price of the stock will decline. To complete, or close out, the short sale transaction, the Fund buys the same stock in the market at a later date and returns it to the lender.
The Adviser derives the ratio between long and short positions for the Fund based on its bottom-up analysis supplemented with macro-economic and market analyses. Under normal market conditions, the net long exposure of the Fund (long exposure minus short exposure) will range between 30% and 70%. The Adviser seeks to minimize the variability of Fund returns through industry diversification as well as by managing long and short exposures and/or by holding a material level of cash and/or cash equivalents. For example, the Fund may hold long positions in equity securities with a value equal to 60% of its net assets and have short sale obligations equal to 15% of its net assets, resulting in 45% net long exposure. Assuming a 60% long exposure, 40% of Fund assets will be held in cash or cash equivalents, including cash and cash equivalents held to cover the Fund's short sale obligations.
During periods of excessive market risk, the Adviser may reduce the net long exposure of the Fund. The Fund may at times hold long and short positions that in the aggregate exceed the value of its net assets (i.e., so that the Fund is effectively leveraged). The Fund's investments will be focused on securities of companies with large and medium market capitalizations, but it may also take long and short positions in securities of small-capitalization companies. The Fund may invest in non-U.S. companies, but currently intends to limit its investments in such companies to no more than 10% of its net assets. The Fund may purchase securities in initial public offerings and expects to do so on a regular basis. The Fund may enter into derivatives transactions, such as options, futures contracts, forwards, and swaps, as part of its investment strategies or for hedging or other risk management purposes.
These transactions may be used, for example, as a means to take a short position in a security or sector without actually selling securities short."
C000120612 Holdings
Top 10 holdings of AB Select US Long/Short Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Alliance Bernstein | 42.92% |
| NVIDIA Corp | 4.23% |
| Apple Inc | 3.28% |
| Alphabet Inc | 3.27% |
| Microsoft Corp | 2.35% |
| Amazon.com Inc | 2.04% |
| Berkshire Hathaway Inc | 1.94% |
| Micron Technology Inc | 1.59% |
| Broadcom Inc | 1.54% |
| Applied Materials Inc | 1.42% |
C000120612 Portfolio Allocation
Asset-class allocation of AB Select US Long/Short Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 56.0% |
| Cash & Equivalents | 42.9% |
C000120612 Performance
Total returns for C000120612 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 13.7% |
| 3 years (annualised) | 3.9% |
C000120612 Risk Information
Risk metrics for C000120612, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.4%
C000120612 Costs and Fees
C000120612 costs about $222 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.22%
- Gross expense ratio: 2.41%
- Portfolio turnover: 296%
- Brokerage commissions: 3.24 bps of average net assets (SEC N-CEN)
C000120612 Cashflows
Over the 12 months to 2026-06, AB Select US Long/Short Portfolio had net outflows of $17.89M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$6.11M |
| 2026-05 | −$12.22M |
| 2026-04 | −$14.26M |
| 2026-03 | −$20.69M |
| 2026-02 | −$23.55M |
| 2026-01 | −$9.81M |
C000120612 Debt Constituents
No individual debt constituents are reported in AB Select US Long/Short Portfolio's latest SEC N-PORT filing.
C000120612 Prospectus and SEC Filings
Official AB Select US Long/Short Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-10-28
- Prospectus (485BPOS) — filed 2024-10-29
- Prospectus (485BPOS) — filed 2023-10-27
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-09-09
- Annual census (N-CEN) — filed 2025-09-10
Related Funds
Other Long-Short funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.