AB Discovery Value Fund Class K
ABSKX
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- AB Discovery Value Fund Class K (ABSKX) is an open-end mutual fund managed by AllianceBernstein L.P. that seeks long-term growth of capital by investing primarily in a diversified portfolio of equity securities of small- to mid-capitalization U.S. companies. Under normal circumstances, the fund invests at least 80% of its net assets in securities of small- to mid-capitalization companies, defined as those falling within the capitalization range between the smallest company in the Russell 2500 Value Index and the greater of $5 billion or the market capitalization of the largest company in that index; it employs a high-conviction, deeper-value strategy utilizing fundamental research to identify undervalued stocks with attractive valuations relative to future cash earnings power and compelling company-specific or industry catalysts. The fund offers multiple share classes including Class A (ABASX), Advisor (ABYSX), Class I (ABSIX), Class Z (ABSZX), and Class R, with total net assets across the fund complex exceeding $2.3 billion as of recent reports. The fund targets the small value equity segment, focusing on U.S. small- and mid-cap stocks that present opportunities for fundamental stock selection in markets with fewer industry analysts; it may also hold limited non-U.S. equities, cash, and derivatives, exposing investors to risks such as capitalization size risk in smaller companies, market volatility, and foreign investment fluctuations. Portfolio management is led by Erik Turenchalk, CFA, Portfolio Manager for U.S. Small and Mid Cap Value Equities since January 2020, alongside James MacGregor since March 2005, emphasizing a collaborative, long-term approach across asset classes. The fund, part of AllianceBernstein's domestic stock funds lineup, serves institutional and retail investors seeking exposure to undervalued small- and mid-cap value equities, with operations domiciled in the United States. Launched on March 1, 2005, with headquarters aligned to AllianceBernstein L.P. in New York, the fund maintains an annual turnover ratio around 52-53% and focuses geographic operations predominantly on U.S. markets, with minor exposure to regions like the Eurozone, Middle East, United Kingdom, and Latin America. Recent strategic developments at the parent firm AllianceBernstein include the November 2025 launch of new active fixed income ETFs, such as the AB New York Intermediate Municipal ETF and AB Core Bond ETF, enhancing its ETF offerings amid growing assets under management totaling $860 billion as of September 2025; additionally, in July 2025, AllianceBernstein amended and terminated an exchange agreement with Equitable Holdings, retiring over 19 million AB units to streamline its capital structure. No specific acquisitions, funding rounds, or portfolio manager changes for ABSKX were reported in the last 1-2 years, reflecting continuity in its core small- and mid-cap value strategy.