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The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
Past performance does not guarantee future results.
As of December 31, 2023
Source: FactSet, MSCI, S&P and AllianceBernstein (AB)
Past performance does not guarantee future results.
*Percentile rankings are based on monthly valuations (i.e., relative P/E of the first quintile for each factor vs. Russell 1000) from 1990 to 2023. Return on assets: last 12 months’ earnings divided by average total assets. Low beta: exponentially weighted beta with a one-year half-life over the last five years. Price to free cash flow: last 12 months’ cash flow from operations minus three-year average capital expenditures to market cap.
As of December 31, 2023
Source: Refinitiv, Russell Investments, Thomson I/B/E/S and AB
Past performance does not guarantee future results.
QSP returns are for the quintile of developed global and US stocks with the highest strategic core edge. Strategic core edge is the expected return from a proprietary model combining a number of quality, stability and price factors, with a ratio of approximately one-third for each quality, stability and price component.
As of December 31, 2023
Source: FactSet, MSCI, S&P and AB
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
MSCI makes no express or implied warranties or representations, and shall have no liability whatsoever with respect to any MSCI data contained herein.
The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.
Kent Hargis is the Chief Investment Officer of Strategic Core Equities. He created the Strategic Core platform and has been managing the Global, International and US Strategic Core portfolios since their inception in 2011. Hargis has also been Portfolio Manager for the Global Low Carbon Strategy Portfolio since 2022. Previously, he managed the Emerging Portfolio from 2015 through 2023. Hargis was global head of quantitative research for Equities from 2009 through 2014, with responsibility for directing research and the application of risk and return models across the firm’s equity portfolios. He joined AB in 2003 as a senior quantitative strategist. Prior to that, Hargis was chief portfolio strategist for global emerging markets at Goldman Sachs. From 1995 through 1998, he was assistant professor of international finance in the graduate program at the University of South Carolina, where he published extensively on various international investment topics. Hargis holds a PhD in economics from the University of Illinois, where his research focused on international finance, econometrics and emerging financial markets. Location: New York
Brian Holland is a Portfolio Manager and Senior Research Analyst for International Strategic Core Equities. He joined the Strategic Core Equities team as a Senior Research Analyst in 2022 and was appointed Portfolio Manager of International Strategic Core Equities effective January 2023. From 2014 to 2022 Holland was a senior research analyst on the US Small and Mid Cap Value team, responsible for coverage of technology and materials companies. He previously spent three years covering companies in the consumer and technology sectors for a number of value equity strategies and as a generalist supporting the AB Strategic Opportunities Fund. Prior to his role in research, Holland was an associate portfolio manager, responsible for implementing portfolio decisions in value equity portfolios. He joined the firm in 2004. Holland holds a BS in economics and policy and management from Carnegie Mellon University and is a CFA charterholder. Location: New York
Ian McNaugher is a Research Coordinator (US) and Senior Research Analyst on the Strategic Core Equities investment team, covering multiple industries, including US utilities and aerospace & defense. Previously, he served as a research analyst on the Value Equities team, and before that served as a generalist and portfolio analyst for the Strategic Core portfolios, dating back to the inception of the platform in 2011. McNaugher joined AB in 2006, originally working in portfolio management and operations. He holds a BA in economics and English from Bucknell University and an MBA in finance from the Leonard N. Stern School of Business at New York University. McNaugher is a CFA charterholder. Location: New York