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Name

As of 12/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Tax-Aware Overlay A Portfolio

SATOX | Fund

$11.74

$1.15 B

1.39%

$0.16

1.59%

Vitals

YTD Return

13.4%

1 yr return

14.0%

3 Yr Avg Return

-1.3%

5 Yr Avg Return

N/A

Net Assets

$1.15 B

Holdings in Top 10

59.1%

52 WEEK LOW AND HIGH

$11.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.59%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Tax-Aware Overlay A Portfolio

SATOX | Fund

$11.74

$1.15 B

1.39%

$0.16

1.59%

SATOX - Profile

Distributions

  • YTD Total Return 13.4%
  • 3 Yr Annualized Total Return -1.3%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Tax-Aware Overlay A Portfolio
  • Fund Family Name
    ALLIANCEBE
  • Inception Date
    Apr 29, 2021
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel J. Loewy

Fund Description

The Portfolio is intended to be used as part of a broader investment program administered directly by Bernstein Private Wealth Management of AllianceBernstein L.P. (“Bernstein”). The performance and objectives of the Portfolio should be evaluated only in the context of the investor’s complete investment program. The Portfolio is NOT designed to be used as a stand-alone investment.
The Portfolio may invest in a diversified portfolio of securities and other financial instruments, including derivative instruments, that provide investment exposure to a variety of asset classes. These asset classes may include: equity securities and fixed-income instruments of issuers located within and outside the United States, real estate related securities, below-investment grade (“high yield”) securities (commonly known as “junk bonds”), currencies and commodities. By adjusting investment exposure among the various asset classes in the Portfolio, AllianceBernstein L.P. (the “Manager”) seeks to manage the volatility of diversified client portfolios managed by Bernstein that reflect a significant allocation to equity securities. The Portfolio’s asset class exposures may be implemented and adjusted either through transactions in individual securities or through derivatives. The Portfolio seeks to minimize the impact of federal income taxes on shareholders’ returns over time by managing the impact of portfolio turnover. Income earned by the Portfolio may be taxable.
The Portfolio obtains equity exposure by investing directly in equity securities and through investments in other registered funds, including, but not limited to, other funds managed by the Manager. Equity securities are generally common stocks, but may also include preferred stock, warrants and convertible securities of U.S. and foreign issuers, including sponsored or unsponsored American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) and derivatives. The research analyses that support buy and sell decisions for the Portfolio are fundamental and bottom‑up, based largely on specific company and industry findings and taking into account broad economic forecasts.
The Portfolio may obtain fixed-income exposure through derivatives but may also invest directly in U.S., international and emerging market fixed-income instruments, including high yield securities and inflation-protected securities. To identify attractive bonds for the Portfolio, the Manager combines quantitative and fundamental research forecasts through a disciplined investment process to identify opportunities among country/yield curves, sectors, securities and currencies. The Portfolio’s fixed-income instruments are primarily investment grade debt securities, but may also include below-investment grade securities and preferred stock.
The Manager alters asset class exposures as market and economic conditions change. The Manager employs risk/return tools and fundamental research insights to determine how to adjust the Portfolio’s exposures to various asset classes. These dynamic adjustments to the Portfolio’s asset class exposures are implemented principally through the use of derivatives. The Portfolio may maintain a significant percentage of its assets in cash and cash equivalent instruments, some of which may serve as margin or collateral for the Portfolio’s obligations under derivative transactions. The Portfolio may invest part or all of its portfolio in U.S. government obligations or investment-grade debt securities of U.S. issuers, including municipal issuers.
The Manager also may use exchange traded funds (“ETFs”), exchange traded notes, structured investments and commodity-linked notes in seeking to carry out the Portfolio’s investment strategies. The Portfolio may enter into foreign currency transactions for hedging and non‑hedging purposes on a spot (i.e., cash) basis or through the use of derivatives. An appropriate hedge of currency exposure resulting from the Portfolio’s securities positions may not be available or cost effective, or the Manager may determine not to hedge the positions, possibly even under market conditions where doing so could benefit the Portfolio. The Portfolio may use options strategies (involving the purchase and/or writing of various combinations of call and/or put options, including on individual securities and stock indices), futures contracts (including futures contracts on individual securities and stock indices), swap agreements (including interest rate swaps and currency swaps) or shares of ETFs. These transactions may be used, for example, in an effort to earn extra income, to adjust exposure to individual securities or markets, or to protect all or a portion of the Portfolio from a decline in value, sometimes within certain ranges.
The Manager employs tax management strategies in an attempt to reduce the impact of U.S. federal income taxes on shareholders in the Portfolio. For example, the Manager considers the tax impact that buy and sell investment decisions will have on the Portfolio’s shareholders. The Manager may sell certain securities in order to realize capital losses. Capital losses may be used to offset realized capital gains. To minimize capital gains distributions, the Manager may sell securities in the Portfolio with the highest cost basis. The Manager may monitor the length of time the Portfolio has held an investment to evaluate whether the investment should be sold at a short-term gain or held for a longer period so that the gain on the investment will be taxed at the lower long-term rate. In making this decision, the Manager considers whether, in its judgment, the risk of continued exposure to the investment is worth the tax savings of a lower capital gains rate. There can be no assurance that any of these strategies will be effective or that their use will not adversely affect the gross returns of the Portfolio.
Exposure to certain other asset classes may also be achieved through investments in other registered funds advised by the Manager (“AB Mutual Funds”), including the AB All Market Real Return Portfolio of AB Bond Fund, Inc.
Read More

SATOX - Performance

Return Ranking - Trailing

Period SATOX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.4% -50.0% 268.1% N/A
1 Yr 14.0% -64.8% 268.1% N/A
3 Yr -1.3%* -100.0% 115.6% N/A
5 Yr N/A* -100.0% 58.6% N/A
10 Yr N/A* -12.1% 26.2% N/A

* Annualized

Return Ranking - Calendar

Period SATOX Return Category Return Low Category Return High Rank in Category (%)
2023 9.8% -100.0% 73.0% N/A
2022 -25.9% -76.0% 212.6% N/A
2021 N/A -65.0% 900.0% N/A
2020 N/A -87.3% 336.8% N/A
2019 N/A -60.1% 304.1% N/A

Total Return Ranking - Trailing

Period SATOX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.4% -50.0% 268.1% N/A
1 Yr 14.0% -64.8% 268.1% N/A
3 Yr -1.3%* -100.0% 115.6% N/A
5 Yr N/A* -100.0% 58.6% N/A
10 Yr N/A* -12.1% 26.3% N/A

* Annualized

Total Return Ranking - Calendar

Period SATOX Return Category Return Low Category Return High Rank in Category (%)
2023 10.2% -100.0% 76.6% N/A
2022 -24.5% -30.7% 212.6% N/A
2021 N/A -65.0% 900.0% N/A
2020 N/A -87.3% 341.1% N/A
2019 N/A -60.1% 304.1% N/A

NAV & Total Return History

SATOX - Holdings

Concentration Analysis

SATOX Category Low Category High SATOX % Rank
Net Assets 1.15 B 10 804 B 8.16%
Number of Holdings 319 1 17333 2.12%
Net Assets in Top 10 679 M -7.11 B 145 B 13.71%
Weighting of Top 10 59.07% 0.0% 20474.3% 84.07%

Top 10 Holdings

  1. Bernstein International Strategic Equities Portfolio 21.27%
  2. AB Fixed Income Shares, Inc. - Government Money Market Portfolio 11.42%
  3. AB All Market Real Return Portfolio 6.93%
  4. Microsoft Corp 3.90%
  5. AB International Small Cap Portfolio 3.74%
  6. NVIDIA Corp 3.13%
  7. Alphabet Inc 2.40%
  8. Apple Inc 2.32%
  9. Sanford C Bernstein Fund Inc - Emerging Markets Portfolio 2.00%
  10. Bernstein Small Cap Core Portfolio 1.97%

Asset Allocation

Weighting Return Low Return High SATOX % Rank
Stocks 		88.46% -142.98% 259.25% 36.43%
Cash 		11.42% -2458.20% 7388.76% 55.97%
Other 		2.20% -7288.76% 493.15% 30.25%
Preferred Stocks 		0.00% -21.20% 80.89% 35.22%
Convertible Bonds 		0.00% -0.37% 144.58% 41.50%
Bonds 		0.00% -955.59% 2458.15% 54.58%

Stock Sector Breakdown

Weighting Return Low Return High SATOX % Rank
Utilities 		0.00% -3.80% 94.95% 44.63%
Technology 		0.00% -26.81% 99.57% 27.52%
Real Estate 		0.00% -8.52% 100.26% 10.17%
Industrials 		0.00% -19.53% 93.31% 46.43%
Healthcare 		0.00% -15.38% 100.00% 41.76%
Financial Services 		0.00% -7.59% 99.69% 24.42%
Energy 		0.00% -6.25% 144.83% 9.60%
Communication Services 		0.00% -9.27% 90.02% 30.45%
Consumer Defense 		0.00% -7.54% 98.24% 32.37%
Consumer Cyclical 		0.00% -20.80% 87.44% 31.91%
Basic Materials 		0.00% -5.18% 96.19% 34.54%

Stock Geographic Breakdown

Weighting Return Low Return High SATOX % Rank
US 		88.46% -142.98% 149.27% 28.19%
Non US 		0.00% -38.73% 159.65% 18.85%

SATOX - Expenses

Operational Fees

SATOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.59% -2.86% 950.64% 50.29%
Management Fee 0.90% 0.00% 2.87% 81.48%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 52000.00% N/A

Sales Fees

SATOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 25.00% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

SATOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SATOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 5067.00% 52.51%

SATOX - Distributions

Dividend Yield Analysis

SATOX Category Low Category High SATOX % Rank
Dividend Yield 1.39% 0.00% 84.51% N/A

Dividend Distribution Analysis

SATOX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Monthly Annually

Net Income Ratio Analysis

SATOX Category Low Category High SATOX % Rank
Net Income Ratio N/A -46.00% 10.88% 70.02%

Capital Gain Distribution Analysis

SATOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

SATOX - Fund Manager Analysis

Managers

Daniel J. Loewy

Start Date

Tenure

Tenure Rank

Feb 08, 2010

8.56

8.6%

Daniel Loewy is Chief Investment Officer and Co-Head of Multi-Asset Solutions. He oversees the research and product design of the firm’s multi-asset strategies, as well as their implementation. In addition, Loewy is Chief Investment Officer for Dynamic Asset Allocation, and is responsible for the development and investment decision making for that service. He is also a member of the Real Asset Investment Policy Group and the Target Date Investment Oversight team. Loewy previously led the Wealth Management Group’s research on the major investment issues faced by our highest-net-worth clients, including asset allocation, alternative investments and tax management. Prior to that, he was a research analyst in the equity research department, where he followed the aerospace and defense and capital goods sectors. Additionally, Loewy has served as an associate portfolio manager for our value equity services. He holds a BS in industrial and labor relations from Cornell University and an MBA from Columbia University, and is a CFA charterholder. Location: New York

Seth J. Masters

Start Date

Tenure

Tenure Rank

Feb 08, 2010

8.56

8.6%

"Chief Investment Officer—Blend Strategies and Defined Contribution Seth Masters is Chief Investment Officer of Blend Strategies and Defined Contribution (DC) and a Partner at AllianceBernstein. He became CIO of Blend Strategies in 2002 and launched a range of style-blended and asset-allocation services that have since become a significant portion of the firm’s assets. In June 2008, Masters was appointed to head AllianceBernstein’s newly formed DC business unit. He is also responsible for overseeing research on dynamic asset allocation, inflation protection and risk-mitigation strategies. From 1994 to 2002, Masters was CIO of Emerging Markets Value Equities. He joined Bernstein in 1991 as a research analyst covering global financial firms. Over the years, Masters has published numerous articles, including “Is There a Better Way to Rebalance?”; “After the Fall: The Case for Emerging Markets Revisited”; and “The Future of Defined Contribution Pension Plans.” Prior to Bernstein, he worked as a senior associate at Booz, Allen & Hamilton from 1986 to 1990 and taught economics in China from 1983 to 1985. Masters earned a BA from Princeton University and an MPhil in economics from Oxford University. Location: New York. "

Vadim Zlotnikov

Start Date

Tenure

Tenure Rank

Jan 31, 2014

4.58

4.6%

Vadim Zlotnikov is Chief Market Strategist, Co-Head of Multi-Asset Solutions and Chief Investment Officer for Systematic and Index Strategies. As Chief Market Strategist, he provides macro and quantitative research that helps identify thematic investment opportunities. As Co-Head of Multi-Asset Solutions, Zlotnikov manages the development and implementation of integrated investment portfolios for the retirement, institutional and retail markets. As CIO for Systematic and Index Strategies, he is responsible for ensuring that individual products meet investment objectives. Zlotnikov served as CIO of Growth Equities from 2008 to 2010. From 2002 to 2008, he was chief investment strategist, responsible for developing portfolio recommendations for the US market and for separate quantitative analysis and money-management research products. Prior to that, he was an analyst covering the PC and semiconductor industries; he launched the technology strategy product in 1996. Before joining the firm in 1992, Zlotnikov spent six years as a management consultant with Booz Allen Hamilton, where he conducted a broad range of strategic and operational studies for technology companies. He also worked for Amoco Technology Company as a director of electronic ventures and spent two years as a research engineer with AT&T Bell Laboratories. He has been named to the Institutional Investor All-America Research Team in the semiconductor components, strategy and quantitative research categories. Zlotnikov holds a BS and an MS in electrical engineering from the Massachusetts Institute of Technology and an MBA from Stanford University. Location: New York

Alexander Barenboym

Start Date

Tenure

Tenure Rank

Jan 31, 2014

4.58

4.6%

Portfolio Manager—Dynamic Asset Allocation. Mr. Barenboym has been associated with the Manager in similar capacities since prior to 2009.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 33.52 5.37 3.25

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