Edgar Filing: ALLIANCEBERNSTEIN INCOME FUND INC

AllianceBernstein Income Fund, Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-05207

ALLIANCEBERNSTEIN INCOME FUND, INC.

(Exact name of registrant as specified in charter)

1345 Avenue of the Americas, New York, New York 10105

(Address of principal executive offices) (Zip code)

Joseph J. Mantineo

AllianceBernstein L.P.

1345 Avenue of the Americas

New York, New York 10105

(Name and address of agent for service)

Registrant’s telephone number, including area code: (800) 221-5672

Date of fiscal year end: December 31, 2014

Date of reporting period: March 31, 2014

ITEM 1.

SCHEDULE OF INVESTMENTS.

AllianceBernstein Income Fund

Portfolio of Investments

March 31, 2014 (unaudited)


	Principal Amount (000)			U.S. $ Value
GOVERNMENTS - TREASURIES - 91.9%
Brazil - 1.1%
Brazil Notas do Tesouro Nacional
Series F
10.00%, 1/01/17		BRL	54,108	$	22,576,001

Mexico - 1.0%
Mexican Bonos
Series M
7.75%, 11/13/42		MXN	245,225		20,098,006

United States - 89.8%
U.S. Treasury Bonds
5.375%, 2/15/31		U.S.$	1,961		2,508,549
6.00%, 2/15/26 (a)			333,000		437,843,052
6.375%, 8/15/27 (a)			260,000		356,768,880
6.50%, 11/15/26 (a)			183,000		252,025,404
8.50%, 2/15/20			3,700		5,049,634
U.S. Treasury Notes
1.75%, 5/15/23			6,010		5,567,700
2.125%, 8/31/20-8/15/21			171,000		170,215,614
2.625%, 11/15/20 (a)			67,250		68,983,772
3.125%, 5/15/21			95,000		100,061,695
3.50%, 5/15/20			36,800		39,867,611
3.625%, 8/15/19			36,800		40,178,130
3.625%, 2/15/21 (b)			295,000		320,904,540
3.75%, 11/15/18			10,000		10,962,500

					1,810,937,081

Total Governments - Treasuries (cost $1,841,639,260)					1,853,611,088

CORPORATES - NON-INVESTMENT GRADES - 14.4%
Industrial - 11.4%
Basic - 0.8%
AK Steel Corp.
7.625%, 5/15/20 (a)			847		844,883
ArcelorMittal
5.75%, 8/05/20			2,417		2,568,062
7.25%, 3/01/41			54		54,203
7.50%, 10/15/39			1,376		1,422,440
Arch Coal, Inc.
7.00%, 6/15/19 (a)			2,100		1,622,250
Commercial Metals Co.
6.50%, 7/15/17			1,993		2,227,177
7.35%, 8/15/18			2,644		3,014,160
Novelis, Inc./GA
8.75%, 12/15/20			837		935,347
SPCM SA
6.00%, 1/15/22 (c)			617		654,020
Steel Dynamics, Inc.
7.625%, 3/15/20			3,000		3,247,500

					16,590,042


	Principal Amount (000)			U.S. $ Value
Capital Goods - 1.3%
B/E Aerospace, Inc.
6.875%, 10/01/20		U.S.$	2,000	$	2,195,000
BC Mountain LLC/BC Mountain Finance, Inc.
7.00%, 2/01/21 (c)			2,313		2,289,870
Bombardier, Inc.
6.00%, 10/15/22 (c)			1,650		1,650,000
7.50%, 3/15/18 (c)			3,000		3,382,500
Building Materials Corp. of America
7.00%, 2/15/20 (c)			635		681,038
7.50%, 3/15/20 (c)			2,498		2,691,595
Clean Harbors, Inc.
5.25%, 8/01/20			1,200		1,236,000
Huntington Ingalls Industries, Inc.
7.125%, 3/15/21			690		761,588
Sealed Air Corp.
6.875%, 7/15/33 (c)			1,486		1,493,430
8.125%, 9/15/19 (c)			1,127		1,259,422
8.375%, 9/15/21 (c)			1,157		1,331,996
SPX Corp.
6.875%, 9/01/17			2,900		3,291,500
Summit Materials LLC/Summit Materials Finance Corp.
10.50%, 1/31/20			1,599		1,802,872
United Rentals North America, Inc.
5.75%, 7/15/18			2,550		2,728,500

					26,795,311

Communications - Media - 2.5%
CCO Holdings LLC/CCO Holdings Capital Corp.
5.25%, 9/30/22			2,079		2,053,013
Clear Channel Communications, Inc.
9.00%, 12/15/19			92		96,600
Clear Channel Worldwide Holdings, Inc.
6.50%, 11/15/22			1,312		1,392,360
Series B
6.50%, 11/15/22			3,688		3,941,550
Columbus International, Inc.
11.50%, 11/20/14 (c)			2,789		2,966,799
CSC Holdings LLC
6.75%, 11/15/21			5,000		5,587,500
Cumulus Media Holdings, Inc.
7.75%, 5/01/19			678		722,070
DISH DBS Corp.
5.00%, 3/15/23			2,240		2,256,800
Hughes Satellite Systems Corp.
7.625%, 6/15/21			3,111		3,507,652
Intelsat Jackson Holdings SA
7.25%, 4/01/19			4,231		4,548,325
Lamar Media Corp.
5.875%, 2/01/22			5,500		5,830,000
Nielsen Co. Luxembourg SARL (The)
5.50%, 10/01/21 (c)			3,243		3,384,881


	Principal Amount (000)			U.S. $ Value
Quebecor Media, Inc.
5.75%, 1/15/23		U.S.$	2,145	$	2,150,363
Sirius XM Holdings, Inc.
5.25%, 8/15/22 (c)			412		424,360
5.875%, 10/01/20 (c)			2,026		2,137,430
Univision Communications, Inc.
5.125%, 5/15/23 (c)			3,295		3,369,137
Videotron Ltd.
5.00%, 7/15/22			2,255		2,260,637
Virgin Media Finance PLC
5.25%, 2/15/22			2,246		2,066,320
Virgin Media Secured Finance PLC
5.25%, 1/15/21			1,629		1,686,015

					50,381,812

Communications - Telecommunications - 0.8%
Columbus International, Inc.
7.375%, 3/30/21 (c)			2,572		2,649,160
Frontier Communications Corp.
8.125%, 10/01/18			2,000		2,335,000
SBA Telecommunications, Inc.
5.75%, 7/15/20			875		916,563
Sprint Communications, Inc.
9.00%, 11/15/18 (c)			2,065		2,524,462
Sunrise Communications International SA
7.00%, 12/31/17 (c)		EUR	1,585		2,313,017
tw telecom holdings, Inc.
6.375%, 9/01/23		U.S.$	2,369		2,534,830
Windstream Corp.
7.50%, 4/01/23			2,000		2,100,000
7.75%, 10/01/21			1,070		1,150,250

					16,523,282

Consumer Cyclical - Automotive - 0.3%
Affinia Group, Inc.
7.75%, 5/01/21			297		320,760
Goodyear Tire & Rubber Co. (The)
8.75%, 8/15/20			3,000		3,547,500
LKQ Corp.
4.75%, 5/15/23 (c)			908		860,330

					4,728,590

Consumer Cyclical - Entertainment - 0.1%
Pinnacle Entertainment, Inc.
8.75%, 5/15/20			841		919,844

Consumer Cyclical - Other - 0.4%
Choice Hotels International, Inc.
5.75%, 7/01/22			195		206,700
MGM Resorts International
8.625%, 2/01/19			4,315		5,167,213
Royal Caribbean Cruises Ltd.
7.50%, 10/15/27			1,100		1,226,500


	Principal Amount (000)			U.S. $ Value
Shea Homes LP/Shea Homes Funding Corp.
8.625%, 5/15/19		U.S.$	1,188	$	1,309,770

					7,910,183

Consumer Cyclical - Retailers - 0.7%
Burlington Coat Factory Warehouse Corp.
10.00%, 2/15/19			401		447,616
Chinos Intermediate Holdings A, Inc.
7.75%, 5/01/19 (c)(d)			1,127		1,163,627
L Brands, Inc.
6.90%, 7/15/17			3,621		4,141,519
New Look Bondco I PLC
8.375%, 5/14/18 (c)			2,000		2,140,000
Rite Aid Corp.
8.00%, 8/15/20			3,200		3,552,000
Toys R US - Delaware, Inc.
7.375%, 9/01/16 (a)(c)			3,092		2,852,370

					14,297,132

Consumer Non-Cyclical - 1.5%
ARAMARK Corp.
5.75%, 3/15/20			1,001		1,057,306
Boparan Finance PLC
9.875%, 4/30/18 (c)		GBP	2,400		4,313,291
CHS/Community Health Systems, Inc.
6.875%, 2/01/22 (c)		U.S.$	3,286		3,433,870
7.125%, 7/15/20			1,717		1,862,945
HCA Holdings, Inc.
7.75%, 5/15/21 (a)			1,700		1,874,250
Holding Medi - Partenaires SAS
7.00%, 5/15/20 (c)		EUR	1,750		2,544,522
Hologic, Inc.
6.25%, 8/01/20		U.S.$	540		571,050
Jaguar Holding Co. II/Jaguar Merger Sub, Inc.
9.50%, 12/01/19 (c)			2,000		2,225,000
Kinetic Concepts, Inc./KCI USA, Inc.
10.50%, 11/01/18			4,000		4,595,000
Post Holdings, Inc.
6.75%, 12/01/21(c)			401		424,559
7.375%, 2/15/22			705		757,875
Smithfield Foods, Inc.
5.875%, 8/01/21(c)			2,597		2,694,387
6.625%, 8/15/22			1,678		1,812,240
Valeant Pharmaceuticals International
6.875%, 12/01/18 (c)			2,145		2,279,063

					30,445,358

Energy - 1.7%
Antero Resources Finance Corp.
5.375%, 11/01/21 (c)			792		803,880
Athlon Holdings LP/Athlon Finance Corp.
7.375%, 4/15/21 (c)			4,204		4,477,260


	Principal Amount (000)		U.S. $ Value
Berry Petroleum Co. LLC
6.375%, 9/15/22	U.S.$	3,107	$	3,215,745
Bonanza Creek Energy, Inc.
6.75%, 4/15/21		188		200,690
CGG SA
9.50%, 5/15/16		550		566,500
Chesapeake Energy Corp.
6.625%, 8/15/20		2,435		2,733,287
Hornbeck Offshore Services, Inc.
5.875%, 4/01/20		2,737		2,853,322
Linn Energy LLC/Linn Energy Finance Corp.
7.25%, 11/01/19 (c)		2,275		2,371,688
Northern Blizzard Resources, Inc.
7.25%, 2/01/22 (c)		2,000		2,060,000
Offshore Group Investment Ltd.
7.125%, 4/01/23		4,656		4,737,480
Oil States International, Inc.
6.50%, 6/01/19		1,960		2,062,900
Quicksilver Resources, Inc.
7.125%, 4/01/16		272		253,640
SandRidge Energy, Inc.
7.50%, 2/15/23		1,259		1,334,540
SESI LLC
7.125%, 12/15/21		2,834		3,159,910
Tervita Corp.
8.00%, 11/15/18 (c)		3,547		3,582,470

				34,413,312

Other Industrial - 0.2%
Safway Group Holding LLC/Safway Finance Corp.
7.00%, 5/15/18 (c)		3,525		3,754,125

Services - 0.4%
ADT Corp. (The)
3.50%, 7/15/22		260		228,545
4.125%, 4/15/19-6/15/23		2,821		2,756,566
Sabre GLBL, Inc.
8.50%, 5/15/19 (c)		2,000		2,210,000
Service Corp. International/US
7.50%, 4/01/27		3,300		3,498,000

				8,693,111

Technology - 0.6%
Amkor Technology, Inc.
6.625%, 6/01/21		3,000		3,202,500
Avaya, Inc.
10.50%, 3/01/21 (c)		1,543		1,431,133
Brightstar Corp.
9.50%, 12/01/16 (c)		1,600		1,744,000
CDW LLC/CDW Finance Corp.
8.50%, 4/01/19		5,000		5,475,000

				11,852,633


	Principal Amount (000)			U.S. $ Value
Transportation - Services - 0.1%
LBC Tank Terminals Holding Netherlands BV
6.875%, 5/15/23 (c)		U.S.$	1,789	$	1,909,758

					229,214,493

Financial Institutions - 2.1%
Banking - 1.1%
ABN AMRO Bank NV
4.31%, 3/10/16		EUR	3,790		5,286,558
Bank of America Corp.
Series U
5.20%, 6/01/23		U.S.$	1,703		1,600,820
Barclays Bank PLC
7.625%, 11/21/22			2,385		2,629,462
7.75%, 4/10/23			1,748		1,927,170
Barclays PLC
8.00%, 12/15/20		EUR	896		1,296,093
Citigroup, Inc.
5.95%, 1/30/23		U.S.$	2,300		2,248,250
Commerzbank AG
8.125%, 9/19/23 (c)			3,610		4,128,937
Credit Agricole SA
7.875%, 1/23/24 (c)			549		580,568
Credit Suisse Group AG
7.50%, 12/11/23 (c)			2,066		2,244,193

					21,942,051

Finance - 0.4%
Aviation Capital Group Corp.
6.75%, 4/06/21 (c)			4,235		4,672,268
Creditcorp
12.00%, 7/15/18 (c)			2,000		2,040,000
Milestone Aviation Group Ltd. (The)
8.625%, 12/15/17 (c)			2,000		2,147,500

					8,859,768

Insurance - 0.1%
American Equity Investment Life Holding Co.
6.625%, 7/15/21			2,432		2,593,120
Pearl Group Holdings No. 1 Ltd.
6.586%, 4/25/16		GBP	43		66,107

					2,659,227

Other Finance - 0.3%
ACE Cash Express, Inc.
11.00%, 2/01/19 (c)		U.S.$	657		545,310
iPayment, Inc.
10.25%, 5/15/18			2,475		1,825,312
National Money Mart Co.
10.375%, 12/15/16			3,800		3,819,000

					6,189,622


	Principal Amount (000)		U.S. $ Value
REITS - 0.2%
SL Green Realty Corp./SL Green Operating Partnership/Reckson Operating Partnership
7.75%, 3/15/20	U.S.$	2,514	$	2,989,460

				42,640,128

Utility - 0.9%
Electric - 0.6%
AES Corp./VA
8.00%, 10/15/17		487		576,486
Calpine Corp.
6.00%, 1/15/22 (c)		1,000		1,050,000
EDP Finance BV
4.90%, 10/01/19 (c)		255		266,475
6.00%, 2/02/18 (c)		3,490		3,786,650
FirstEnergy Corp.
Series C
7.375%, 11/15/31		1,552		1,782,714
GenOn Energy, Inc.
7.875%, 6/15/17		2,100		2,110,500
9.50%, 10/15/18		2,087		2,133,958

				11,706,783

Natural Gas - 0.3%
El Paso LLC
Series G
7.75%, 1/15/32		2,000		2,139,056
Holly Energy Partners LP/Holly Energy Finance Corp.
6.50%, 3/01/20		2,196		2,333,250
Regency Energy Partners LP/Regency Energy Finance Corp.
4.50%, 11/01/23		2,500		2,325,000

				6,797,306

				18,504,089

Total Corporates - Non-Investment Grades (cost $271,035,092)				290,358,710

CORPORATES - INVESTMENT GRADES - 9.5%
Industrial - 5.9%
Basic - 1.0%
Basell Finance Co. BV
8.10%, 3/15/27 (c)		1,190		1,552,661
Braskem Finance Ltd.
6.45%, 2/03/24		1,204		1,232,595
GTL Trade Finance, Inc.
7.25%, 10/20/17 (c)		2,536		2,849,830
LyondellBasell Industries NV
5.75%, 4/15/24		3,300		3,801,557
Minsur SA
6.25%, 2/07/24 (c)		1,764		1,852,454
Southern Copper Corp.
7.50%, 7/27/35		5,107		5,612,021


	Principal Amount (000)			U.S. $ Value
Weyerhaeuser Co.
7.375%, 3/15/32		U.S.$	2,000	$	2,570,686

					19,471,804

Capital Goods - 0.8%
Legrand France SA
8.50%, 2/15/25			10		13,290
Odebrecht Finance Ltd.
4.375%, 4/25/25 (c)			6,760		6,050,762
Owens Corning
9.00%, 6/15/19			3,000		3,716,493
Republic Services, Inc.
5.25%, 11/15/21			6,098		6,816,918

					16,597,463

Communications - Media - 0.2%
Globo Comunicacao e Participacoes SA
5.307%, 5/11/22 (c)(e)			1,162		1,227,363
Myriad International Holdings BV
6.00%, 7/18/20 (c)			3,089		3,351,288

					4,578,651

Communications - Telecommunications - 1.7%
AT&T, Inc.
4.30%, 12/15/42			72		63,798
6.50%, 9/01/37			4,433		5,157,246
Deutsche Telekom International Finance BV
4.875%, 3/06/42 (c)			4,719		4,746,823
ENTEL Chile SA
4.875%, 10/30/24 (c)			3,015		3,039,524
Oi SA
5.75%, 2/10/22 (c)			5,500		5,293,950
Qwest Corp.
6.75%, 12/01/21			2,000		2,233,208
6.875%, 9/15/33			1,500		1,479,215
Telefonica Emisiones SAU
7.045%, 6/20/36			5,000		6,051,785
Verizon Communications, Inc.
6.90%, 4/15/38			4,500		5,574,127

					33,639,676

Consumer Cyclical - Automotive - 0.0%
Ford Motor Co.
7.45%, 7/16/31			650		834,029

Consumer Cyclical - Entertainment - 0.2%
Time Warner, Inc.
7.70%, 5/01/32			2,500		3,352,618

Consumer Cyclical - Other - 0.1%
Wyndham Worldwide Corp.
4.25%, 3/01/22			2,200		2,225,223


	Principal Amount (000)			U.S. $ Value
Consumer Cyclical - Retailers - 0.3%
CVS Caremark Corp.
5.75%, 5/15/41		U.S.$	4,700	$	5,446,985

Consumer Non-Cyclical - 0.5%
Bunge Ltd. Finance Corp.
8.50%, 6/15/19			2,600		3,208,556
Grupo Bimbo SAB de CV
4.50%, 1/25/22 (c)			1,699		1,748,985
SABMiller Holdings, Inc.
4.95%, 1/15/42 (c)			5,500		5,758,995

					10,716,536

Energy - 0.7%
Nabors Industries, Inc.
5.10%, 9/15/23 (c)			3,500		3,639,784
Reliance Holding USA, Inc.
5.40%, 2/14/22 (c)			3,568		3,741,497
Transocean, Inc.
7.50%, 4/15/31			2,200		2,539,728
Weatherford International Ltd./Bermuda
7.00%, 3/15/38			2,900		3,420,564

					13,341,573

Technology - 0.2%
Applied Materials, Inc.
5.85%, 6/15/41			4,621		5,234,026

Transportation - Airlines - 0.1%
Delta Air Lines Pass-Through Trust
Series 2007-1A
6.821%, 8/10/22			1,437		1,688,692

Transportation - Services - 0.1%
Asciano Finance Ltd.
4.625%, 9/23/20 (c)			1,080		1,116,183

					118,243,459

Financial Institutions - 3.1%
Banking - 1.3%
BNP Paribas SA
5.186%, 6/29/15 (c)			2,691		2,761,639
Credit Agricole SA
7.589%, 1/30/20		GBP	1,150		2,065,328
Credit Suisse AG
6.50%, 8/08/23 (c)		U.S.$	3,900		4,263,881
HSBC Capital Funding LP/Jersey
10.176%, 6/30/30 (c)			884		1,272,960
JPMorgan Chase & Co.
Series S
6.75%, 2/01/24			3,997		4,206,842
Mizuho Financial Group Cayman 3 Ltd.
4.60%, 3/27/24 (c)			4,802		4,823,201
Royal Bank of Scotland PLC (The)
9.50%, 3/16/22 (c)			2,106		2,469,285


	Principal Amount (000)			U.S. $ Value
UBS AG/Stamford CT
7.50%, 7/15/25		U.S.$	1,394	$	1,739,000
7.625%, 8/17/22			2,492		2,922,832

					26,524,968

Finance - 0.2%
GE Capital Trust II
5.50%, 9/15/67 (c)		EUR	1,000		1,474,085
General Electric Capital Corp.
Series G
6.875%, 1/10/39		U.S.$	1,254		1,651,444

					3,125,529

Insurance - 1.2%
AIG Life Holdings Inc
8.125%, 3/15/46 (c)			509		661,700
American International Group, Inc.
8.175%, 5/15/58			2,525		3,317,219
Fairfax Financial Holdings Ltd.
8.30%, 4/15/26			5,000		5,883,690
Great-West Life & Annuity Insurance Capital LP II
7.153%, 5/16/46 (c)			2,707		2,828,815
Humana, Inc.
8.15%, 6/15/38			2,900		4,076,959
MetLife, Inc.
6.40%, 12/15/36			3,345		3,528,975
Pacific Life Insurance Co.
9.25%, 6/15/39 (c)			1,500		2,197,702
Transatlantic Holdings, Inc.
8.00%, 11/30/39			2,122		2,797,959

					25,293,019

Other Finance - 0.0%
IIRSA Norte Finance Ltd.
8.75%, 5/30/24 (f)			282		327,431

REITS - 0.4%
EPR Properties
7.75%, 7/15/20			3,308		3,902,011
HCP, Inc.
5.375%, 2/01/21			3,468		3,882,884

					7,784,895

					63,055,842

Utility - 0.3%
Electric - 0.3%
ComEd Financing III
6.35%, 3/15/33			3,462		3,392,760
Duquesne Light Holdings, Inc.
6.40%, 9/15/20 (c)			2,140		2,491,274

					5,884,034


	Principal Amount (000)			U.S. $ Value
Non Corporate Sectors - 0.2%
Agencies - Not Government Guaranteed - 0.2%
Petrobras International Finance Co.
5.375%, 1/27/21		U.S.$	5,000	$	5,056,605

Total Corporates - Investment Grades (cost $180,038,704)					192,239,940

AGENCIES - 6.6%
Agency Debentures - 3.3%
Federal Home Loan Bank
5.50%, 7/15/36			8,695		10,619,377
Federal Home Loan Mortgage Corp.
6.25%, 7/15/32			15,000		20,021,610
Residual Funding Corp. Principal Strip
Zero Coupon, 7/15/20			42,045		36,023,904

					66,664,891

Agency Subordinated - 3.3%
Federal National Mortgage Association
5.375%, 6/12/17			59,222		67,071,047

Total Agencies (cost $127,338,599)					133,735,938

COLLATERALIZED MORTGAGE OBLIGATIONS - 4.2%
Non-Agency Floating Rate - 2.2%
Fannie Mae Connecticut Avenue Securities
Series 2014-C01, Class M2
4.554%, 1/25/24 (g)			1,391		1,461,166
Federal National Mortgage Association
Series 2013-C01, Class M2
5.404%, 10/25/23 (g)			775		862,629
First Horizon Alternative Mortgage Securities Trust
Series 2007-FA2, Class 1A10
0.404%, 4/25/37 (g)			1,118		701,690
Series 2007-FA2, Class 1A5
0.454%, 4/25/37 (g)			1,266		789,669
IndyMac Index Mortgage Loan Trust
Series 2007-FLX3, Class A1
0.394%, 6/25/37 (g)			1,926		1,690,776
Lehman XS Trust
Series 2007-10H, Class 2AIO
6.846%, 7/25/37 (g)(h)			1,411		293,566
Luminent Mortgage Trust
Series 2006-6, Class A1
0.354%, 10/25/46 (g)			5,985		5,243,779
Residential Accredit Loans, Inc.
Series 2006-QA4, Class A
0.334%, 5/25/36 (g)			3,814		2,959,142
Series 2006-QS18, Class 2A2
6.396%, 12/25/36 (g)(h)			18,717		3,883,897
Structured Agency Credit Risk Debt Notes
Series 2013-DN1, Class M2
7.304%, 7/25/23 (g)			2,650		3,241,799


	Principal Amount (000)			U.S. $ Value
Series 2013-DN2, Class M2
4.404%, 11/25/23 (g)		U.S.$	4,680	$	4,833,707
Series 2014-DN1, Class M2
2.354%, 2/25/24 (g)			4,950		5,050,547
Series 2014-DN1, Class M3
4.654%, 2/25/24 (g)			4,665		4,960,574
Washington Mutual Alternative Mortgage Pass-Through Certificates
Series 2007-OA4, Class A1A
0.90%, 4/25/47 (g)			5,811		4,340,180
Washington Mutual Mortgage Pass-Through Certificates
Series 2007-OA1, Class A1A
0.829%, 2/25/47 (g)			5,065		4,107,976

					44,421,097

Non-Agency Fixed Rate - 2.0%
Citigroup Mortgage Loan Trust
Series 2006-4, Class 2A1A
6.00%, 12/25/35			5,561		5,195,106
Series 2007-AR4, Class 1A1A
5.528%, 3/25/37			919		871,448
Countrywide Alternative Loan Trust
Series 2006-24CB, Class A15
5.75%, 6/25/36			2,869		2,499,028
Series 2006-41CB, Class 2A13
5.75%, 1/25/37			2,383		2,043,759
Series 2007-13, Class A2
6.00%, 6/25/47			3,353		2,758,219
Countrywide Home Loan Mortgage Pass-Through Trust
Series 2007-HY4, Class 1A1
2.672%, 9/25/47			1,027		862,923
Credit Suisse Mortgage-Backed Trust
Series 2006-7, Class 3A12
6.25%, 8/25/36			2,062		1,791,299
First Horizon Alternative Mortgage Securities Trust
Series 2006-AA5, Class A1
2.242%, 9/25/36			2,621		2,094,605
Series 2006-AA7, Class A1
2.196%, 1/25/37			4,358		3,618,883
Morgan Stanley Mortgage Loan Trust
Series 2005-10, Class 4A1
5.50%, 12/25/35			1,233		1,126,226
Residential Accredit Loans, Inc.
Series 2005-QA7, Class A21
3.05%, 7/25/35			1,624		1,441,714
Series 2005-QS14, Class 3A1
6.00%, 9/25/35			3,461		3,337,375
Series 2006-QA1, Class A21
3.728%, 1/25/36			961		728,001
Series 2006-QS2, Class 1A8
6.00%, 2/25/36			5,541		4,655,523
Wells Fargo Mortgage Backed Securities Trust
Series 2007-AR7, Class A1
2.642%, 12/28/37			5,123		4,644,657


	Principal Amount (000)			U.S. $ Value
Series 2007-AR8, Class A1
5.962%, 11/25/37		U.S.$	2,221	$	2,032,516

					39,701,282

Total Collateralized Mortgage Obligations (cost $79,973,317)					84,122,379

EMERGING MARKETS - CORPORATE BONDS - 2.4%
Industrial - 2.4%
Basic - 0.2%
Vedanta Resources PLC
6.00%, 1/31/19 (c)			3,402		3,402,262

Capital Goods - 0.4%
Cemex SAB de CV
7.25%, 1/15/21 (c)			2,376		2,585,129
Grupo Cementos de Chihuahua SAB de CV
8.125%, 2/08/20 (c)			1,954		2,107,877
Servicios Corporativos Javer SAPI de CV
9.875%, 4/06/21 (c)			2,185		2,321,563

					7,014,569

Communications - Media - 0.1%
European Media Capital SA
10.00%, 2/01/15 (f)(i)			1,853		1,853,181

Communications - Telecommunications - 0.4%
Comcel Trust
6.875%, 2/06/24 (c)			2,016		2,109,240
Digicel Ltd.
6.00%, 4/15/21 (c)			1,500		1,533,750
MTS International Funding Ltd.
8.625%, 6/22/20 (a)(c)			4,100		4,674,000

					8,316,990

Consumer Cyclical - Other - 0.0%
Peermont Global Pty Ltd.
7.75%, 4/30/14 (c)		EUR	50		68,366

Consumer Cyclical - Retailers - 0.2%
Office Depot de Mexico SA de CV
6.875%, 9/20/20 (c)		U.S.$	4,000		4,165,000

Consumer Non-Cyclical - 0.7%
Cosan Luxembourg SA
5.00%, 3/14/23 (c)			1,361		1,261,158
9.50%, 3/14/18 (c)		BRL	3,117		1,181,410
Marfrig Holding Europe BV
8.375%, 5/09/18 (c)		U.S.$	900		898,200
Marfrig Overseas Ltd.
9.50%, 5/04/20 (c)			4,151		4,166,566
Minerva Luxembourg SA
7.75%, 1/31/23 (c)			877		898,048


	Principal Amount (000)		U.S. $ Value
Tonon Bioenergia SA
9.25%, 1/24/20 (a)(c)	U.S.$	2,272	$	2,044,800
Virgolino de Oliveira Finance Ltd.
10.50%, 1/28/18 (c)		4,738		2,902,025
11.75%, 2/09/22 (c)		1,690		1,022,450

				14,374,657

Energy - 0.2%
Pacific Rubiales Energy Corp.
7.25%, 12/12/21 (a)(c)		4,300		4,719,250

Transportation - Airlines - 0.2%
TAM Capital 2, Inc.
9.50%, 1/29/20 (c)		751		802,631
TAM Capital 3, Inc.
8.375%, 6/03/21 (c)		2,843		3,027,795

				3,830,426

Total Emerging Markets - Corporate Bonds (cost $47,581,055)				47,744,701

COMMERCIAL MORTGAGE-BACKED SECURITIES - 2.2%
Non-Agency Fixed Rate CMBS - 2.2%
Banc of America Commercial Mortgage Trust
Series 2007-3, Class AJ
5.598%, 6/10/49		1,517		1,548,181
Series 2007-4, Class A1A
5.774%, 2/10/51		3,326		3,731,055
Commercial Mortgage Trust
Series 2006-C8, Class AJ
5.377%, 12/10/46		3,313		3,281,103
DBUBS Mortgage Trust
Series 2011-LC2A, Class D
5.444%, 7/10/44 (c)		1,450		1,486,846
GMAC Commercial Mortgage Securities, Inc.
Series 2006-C1, Class AJ
5.349%, 11/10/45		2,250		2,092,783
GS Mortgage Securities Trust
Series 2011-GC5, Class C
5.308%, 8/10/44 (c)		5,651		6,115,100
JP Morgan Chase Commercial Mortgage Securities Trust
Series 2006-CB14, Class AJ
5.502%, 12/12/44		8,000		7,778,304
Series 2006-LDP7, Class AJ
5.845%, 4/15/45		6,500		6,666,081
LB-UBS Commercial Mortgage Trust
Series 2006-C1, Class AJ
5.276%, 2/15/41		1,317		1,341,190
Series 2007-C2, Class AM
5.493%, 2/15/40		2,000		2,125,166
Series 2007-C7, Class AJ
6.236%, 9/15/45		1,750		1,815,277


	Principal Amount (000)			U.S. $ Value
Merrill Lynch/Countrywide Commercial Mortgage Trust
Series 2006-4, Class AJ
5.239%, 12/12/49		U.S.$	6,667	$	6,647,118

					44,628,204

Non-Agency Floating Rate CMBS - 0.0%
Eclipse Ltd.
Series 2007-1X, Class B
0.77%, 1/25/20 (c)(g)		GBP	59		86,318

Agency CMBS - 0.0%
Government National Mortgage Association
Series 2006-32, Class XM
0.088%, 11/16/45 (h)		U.S.$	899		4,443

Total Commercial Mortgage-Backed Securities (cost $42,286,360)					44,718,965


	Shares
PREFERRED STOCKS - 1.9%
Financial Institutions - 1.7%
Banking - 1.0%
Goldman Sachs Group, Inc. (The)
Series J
5.50%			155,375		3,704,140
Morgan Stanley
6.875%			160,000		4,147,200
PNC Financial Services Group, Inc. (The)
6.125%			223,000		5,956,330
State Street Corp.
Series D
5.90%			70,725		1,831,070
US Bancorp/MN
Series F
6.50%			180,000		5,112,000

					20,750,740

Insurance - 0.1%
Hartford Financial Services Group, Inc. (The)
7.875%			84,000		2,488,080

REITS - 0.6%
DDR Corp.
Series K
6.25%			5,000		115,850
Health Care REIT, Inc.
Series J
6.50%			65,100		1,601,460
Kilroy Realty Corp.
Series G
6.875%			32,200		789,866
Kilroy Realty Corp.
Series H
6.375%			4,000		93,000


Company	Shares		U.S. $ Value
Kimco Realty Corp.
Series I
6.00%		39,725	$	901,758
Kimco Realty Corp.
Series K
5.625%		17,850		381,990
National Retail Properties, Inc.
Series D
6.625%		32,000		775,680
National Retail Properties, Inc.
Series E
5.70%		67,075		1,404,550
Public Storage
Series W
5.20%		28,475		598,545
Public Storage
Series X
5.20%		2,000		42,100
Sabra Health Care REIT, Inc.
Series A
7.125%		194,150		4,690,664
Vornado Realty Trust
Series K
5.70%		16,175		351,321

				11,746,784

				34,985,604

Industrial - 0.2%
Consumer Non - Cyclical - 0.2%
Ventas Realty LP/Ventas Capital Corp.
5.45%		139,500		3,222,450

Total Preferred Stocks (cost $36,899,761)				38,208,054


	Principal Amount (000)
MORTGAGE PASS-THROUGHS - 1.6%
Agency Fixed Rate 30-Year - 1.0%
Federal Home Loan Mortgage Corp. Gold
Series 2006
6.00%, 9/01/36	U.S.$	5,605		6,274,620
Federal National Mortgage Association
3.50%, 2/01/41		14,061		14,155,696
Series 1998
8.00%, 6/01/28		25		28,658
Series 1999
7.50%, 11/01/29		37		42,783

				20,501,757

Agency ARMs - 0.6%
Federal Home Loan Mortgage Corp.
Series 2007
2.772%, 3/01/37 (g)		4,018		4,268,078
2.80%, 3/01/37 (g)		1,799		1,922,341


	Principal Amount (000)			U.S. $ Value
2.815%, 2/01/37 (g)		U.S.$	6,272	$	6,589,281

					12,779,700

Total Mortgage Pass-Throughs (cost $32,101,412)					33,281,457

BANK LOANS - 1.4%
Industrial - 1.4%
Basic – 0.1%
FMG Resources (August 2006) Pty Ltd. (FMG America Finance, Inc.)
4.25%, 6/28/19 (g)			936		942,545
Unifrax Holding Co.
5.25%, 11/28/18 (g)		EUR	761		1,049,037

					1,991,582

Communications - Media - 0.2%
Clear Channel Communications, Inc.
3.80%, 1/29/16 (g)		U.S.$	310		305,953
TWCC Holding Corp.
7.00%, 6/26/20 (g)			3,100		3,010,875

					3,316,828

Consumer Cyclical - Automotive - 0.3%
Exide Technologies
9.00%, 10/09/14			5,868		5,962,856
TI Group Automotive Systems, LLC
5.50%, 3/28/19 (g)			385		385,963

					6,348,819

Consumer Cyclical - Other - 0.1%
New HB Acquisition, LLC
6.75%, 4/09/20 (g)			1,600		1,662,000

Consumer Non-Cyclical - 0.4%
Air Medical Group Holdings, Inc.
5.00%, 6/30/18 (g)			1,359		1,360,719
Air Medical Holding, LLC
7.63%, 5/31/18			4,000		3,980,000
Catalent Pharma Solutions, Inc. (fka Cardinal Health 409, Inc.)
6.50%, 12/31/17(g)			2,300		2,323,000
Par Pharmaceutical Companies, Inc. (Par Pharmaceutical, Inc.)
4.00%, 9/30/19 (g)			546		545,997

					8,209,716

Energy - 0.0%
CITGO Petroleum Corporation
9.00%, 6/24/17 (g)			294		297,563


	Principal Amount (000)			U.S. $ Value
Other Industrial - 0.2%
Accudyne Industries Borrower S.C.A./Accudyne Industries, LLC (fka Silver II US Holdings, LLC)
4.00%, 12/13/19 (g)		U.S.$	1,208	$	1,204,860
Veyance Technologies, Inc.
5.25%, 9/08/17 (g)			2,723		2,736,113

					3,940,973

Technology - 0.1%
Avaya, Inc.
4.73%, 10/26/17 (g)			236		230,281
MMI International Ltd. (MMI International (Delaware) LLC)
7.25%, 11/20/18 (g)			2,081		2,065,641

					2,295,922

Total Bank Loans (cost $27,838,718)					28,063,403

LOCAL GOVERNMENTS - MUNICIPAL BONDS - 1.3%
United States - 1.3%
Buckeye OH Tobacco Settlement Fin Auth
Series 2007A-2
5.875%, 6/01/47			1,950		1,569,984
California GO
7.95%, 3/01/36			3,955		4,654,363
Golden St Tobacco Securitization CA
Series 2007A-1
5.125%, 6/01/47			4,390		3,236,967
Illinois GO
7.35%, 7/01/35			3,330		3,887,275
Texas Transp Comm (Texas St Hwy Fund First Tier)
Series 2010B
5.178%, 4/01/30			2,560		2,924,774
Tobacco Settlement Auth IA
Series 2005C
5.625%, 6/01/46			3,430		2,724,552
Tobacco Settlement Fin Corp. MI
Series 2007A
6.00%, 6/01/48			5,915		4,833,028
Tobacco Settlement Fin Corp. NJ
Series 2007-1A
5.00%, 6/01/41			1,750		1,316,770
Tobacco Settlement Fin Corp. VA
Series 2007B1
5.00%, 6/01/47			1,850		1,278,498

Total Local Governments - Municipal Bonds (cost $26,506,166)					26,426,211


	Principal Amount (000)			U.S. $ Value
QUASI-SOVEREIGNS - 1.2%
Quasi-Sovereign Bonds - 1.2%
Indonesia - 0.3%
Majapahit Holding BV
7.875%, 6/29/37 (c)		U.S.$	6,188	$	6,822,270

Mexico - 0.6%
Comision Federal de Electricidad
5.75%, 2/14/42 (c)			5,750		5,606,250
Petroleos Mexicanos
6.50%, 6/02/41			4,900		5,365,500

					10,971,750

Venezuela - 0.3%
Petroleos de Venezuela SA
5.25%, 4/12/17 (c)			7,500		5,606,250

Total Quasi-Sovereigns (cost $22,523,265)					23,400,270

GOVERNMENTS - SOVEREIGN BONDS - 1.0%
Croatia – 0.2%
Croatia Government International Bond
6.375%, 3/24/21 (c)			2,875		3,097,813

Hungary - 0.6%
Hungary Government International Bond
5.375%, 2/21/23-3/25/24			5,147		5,173,659
5.75%, 11/22/23			1,488		1,544,236
6.375%, 3/29/21			5,000		5,468,750

					12,186,645

Indonesia - 0.2%
Indonesia Government International Bond
5.875%, 1/15/24 (c)			1,995		2,142,131
6.625%, 2/17/37 (c)			720		763,200
8.50%, 10/12/35 (c)			801		1,021,275

					3,926,606

Total Governments - Sovereign Bonds (cost $17,560,579)					19,211,064


	Shares
COMMON STOCKS - 0.6%
Gallery Media (i)(j)(k)			697		1,010,650
Ion Media Networks, Inc. Class A (i)(k)(l)			2,512		580,348
Mt. Logan Re (Preference Shares) (j)^			10,550		11,422,221

Total Common Stocks (cost $11,396,476)					13,013,219

Principal
Amount
(000)

U.S. $ Value

WHOLE LOAN TRUSTS - 0.5%

Performing Asset - 0.5%

Aeroservicios Especializados

10.75%, 3/19/18 (i)(l)

U.S.$

3,934

3,933,542

Alpha Credit Debt Fund LLC

15.00%, 1/15/18 (i)(l)

2,625

2,625,000

Ede Del Este, SA (DPP)

12.00%, 3/31/16 (i)(l)

1,985

2,053,513

Ede Del Este, SA (ITABO)

12.00%, 3/31/16 (i)(l)

1,900

1,966,241

Total Whole Loan Trust
(cost $10,531,833)

10,578,296

EMERGING MARKETS - SOVEREIGNS - 0.4%

El Salvador - 0.3%

El Salvador Government International Bond

7.65%, 6/15/35 (c)

5,957

5,927,215

Sri Lanka - 0.1%

Sri Lanka Government International Bond

6.00%, 1/14/19 (c)

1,236

1,293,165

Total Emerging Markets - Sovereigns
(cost $5,792,797)

7,220,380

GOVERNMENTS - SOVEREIGN AGENCIES - 0.2%

Norway - 0.2%

Eksportfinans ASA

2.00%, 9/15/15

315

312,638

2.375%, 5/25/16

3,728

3,690,720

Total Governments - Sovereign Agencies
(cost $3,710,119)

4,003,358

Notional
Amount
(000)

OPTIONS PURCHASED - CALLS - 0.0%

Options on Forward Contracts - 0.0%

USD/EUR

Expiration: Apr 2014, Exercise Price: EUR 1.35 (k)
(cost $248,463)

211,548

239,271

Shares

SHORT-TERM INVESTMENTS - 3.6%

Investment Companies - 2.6%

AllianceBernstein Fixed-Income Shares, Inc. -
Government STIF Portfolio, 0.08% (m)
(cost $51,509,967)

51,509,967


	Principal Amount (000)			U.S. $ Value
GOVERNMENTS - TREASURIES - 1.0%
Malaysia - 1.0%
Bank Negara Malaysia Monetary Notes
Series 3113
Zero Coupon, 5/27/14		MYR	33,405	$	10,184,677
Series 5513
Zero Coupon, 9/09/14			33,500		10,132,470

Total Governments - Treasuries (cost $20,286,208)					20,317,147

Total Short-Term Investments (cost $71,796,175)					71,827,114

Total Investments - 144.9% (cost $2,856,798,151) (n)					2,922,003,818
Other assets less liabilities - (44.9)%					(906,029,683	)

Net Assets – 100.0%				$	2,015,974,135

FUTURES


Type	Number of Contracts		Expiration Month		Original Value		Value at March 31, 2014		Unrealized Appreciation/ (Depreciation)
Sold Contracts
U.S. Long Bond (CBT) Futures		2,250		June 2014	$	296,064,715	$	299,742,187	$	(3,677,472	)
U.S. T-Note 5 Yr (CBT) Futures		1,647		June 2014		196,864,996		195,915,797		949,199
U.S. T-Note 10 Yr (CBT) Futures		4,073		June 2014		505,268,146		503,015,500		2,252,646

									$	(475,627	)

FORWARD CURRENCY EXCHANGE CONTRACTS


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC Wholesale		IDR	60,226,598		USD	5,179		4/11/14	$	(135,713	)
BNP Paribas SA		USD	20,531		AUD	22,273		4/17/14		103,890
BNP Paribas SA		USD	20,039		PEN	56,539		4/21/14		19,326
BNP Paribas SA		MXN	254,323		USD	19,078		5/08/14		(348,411	)
Citibank, NA		AUD	22,446		USD	20,079		4/17/14		(716,790	)
Citibank, NA		GBP	3,794		USD	6,304		5/08/14		(18,287	)
Credit Suisse International		PLN	121,618		USD	40,034		4/03/14		(184,016	)
Credit Suisse International		JPY	4,125,418		USD	40,035		4/11/14		63,791
Goldman Sachs Bank USA		BRL	49,186		USD	20,662		5/05/14		(830,036	)
JPMorgan Chase Bank, NA		EUR	9,630		USD	13,355		4/24/14		88,873
Morgan Stanley & Co., Inc.		USD	4,959		IDR	60,623,025		4/11/14		389,903
Royal Bank of Scotland PLC		BRL	19,208		USD	7,762		5/05/14		(631,289	)
Royal Bank of Scotland PLC		USD	5,491		BRL	13,051		5/05/14		211,820


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
State Street Bank & Trust Co.		USD	226		EUR	163		4/24/14	$	(1,412	)

									$	(1,988,351	)

CENTRALLY CLEARED INTEREST RATE SWAPS


						Rate Type
Clearing Broker/ (Exchange)	Notional Amount (000)			Termination Date		Payments made by the Fund			Payments received by the Fund			Unrealized Appreciation/ (Depreciation)
Morgan Stanely & Co., LLC/(LCH Clearnet)		AUD	45,000		1/13/17		3 Month BBR			3.170	%	$	35,790
Morgan Stanely & Co., LLC/(LCH Clearnet)			40,500		2/13/17		3 Month BBR			3.250	%		75,869
Morgan Stanely & Co., LLC/(LCH Clearnet)		NZD	48,000		3/04/17		3 Month BKBM			4.108	%		(189,425	)
Morgan Stanely & Co., LLC/(LCH Clearnet)		GBP	12,000		3/03/19		6 Month LIBOR			1.921	%		(73,740	)
Morgan Stanely & Co., LLC/(LCH Clearnet)			11,850		1/14/24		2.976	%		3 Month LIBOR			(235,556	)
Morgan Stanely & Co., LLC/(LCH Clearnet)			60,150		1/21/24		2.948	%		3 Month LIBOR			(997,502	)
Morgan Stanely & Co., LLC/(LCH Clearnet)			11,000		2/14/24		2.865	%		3 Month LIBOR			(72,430	)
Morgan Stanely & Co., LLC/(LCH Clearnet)			47,150		3/25/24		2.887	%		3 Month LIBOR			(211,085	)

												$	(1,668,079	)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS


Clearing Broker/(Exchange) & Referenced Obligation	Fixed Rate (Pay) Receive			Implied Credit Spread at March 31, 2014			Notional Amount (000)		Market Value			Unrealized Appreciation/ (Depreciation)
Buy Contracts
Morgan Stanely & Co., LLC/(INTRCONX):
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)%		3.08	%	$	22	$	(1,786	)	$	(51	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			56		(4,568	)		(94	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			23		(1,867	)		(115	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			22		(1,786	)		(119	)


Clearing Broker/(Exchange) & Referenced Obligation	Fixed Rate (Pay) Receive			Implied Credit Spread at March 31, 2014			Notional Amount (000)		Market Value			Unrealized Appreciation/ (Depreciation)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)%		3.08	%	$	27	$	(2,192	)	$	(135	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			33		(2,679	)		(174	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			54		(4,383	)		(299	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			67		(5,438	)		(378	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			204		(16,559	)		(471	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			291		(23,620	)		(671	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			511		(41,681	)		(852	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			205		(16,640	)		(1,024	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			204		(16,559	)		(1,106	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			223		(18,101	)		(1,114	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			727		(59,299	)		(1,212	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			293		(23,783	)		(1,464	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			291		(23,620	)		(1,577	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			318		(25,812	)		(1,589	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			303		(24,594	)		(1,593	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			760		(61,689	)		(1,753	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			432		(35,065	)		(2,271	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			1,061		(86,121	)		(2,448	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			496		(40,260	)		(2,750	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			1,899		(154,895	)		(3,165	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			616		(50,000	)		(3,477	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			764		(62,013	)		(3,817	)


Clearing Broker/(Exchange) & Referenced Obligation	Fixed Rate (Pay) Receive			Implied Credit Spread at March 31, 2014			Notional Amount (000)		Market Value			Unrealized Appreciation/ (Depreciation)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)%		3.08	%	$	708	$	(57,468	)	$	(3,926	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			760		(61,689	)		(4,120	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			830		(67,371	)		(4,147	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			2,652		(216,314	)		(4,419	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			879		(71,348	)		(4,962	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			1,068		(86,689	)		(5,336	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			1,061		(86,121	)		(5,751	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			1,159		(94,075	)		(5,790	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			1,128		(91,559	)		(5,931	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			1,575		(127,842	)		(8,282	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			1,847		(149,920	)		(10,241	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			2,294		(186,203	)		(12,949	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			2,579		(209,336	)		(14,300	)
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		(5.00	)		3.08			3,202		(259,905	)		(18,075	)
Sale Contracts
Morgan Stanely & Co., LLC/(INTRCONX):
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		5.00			3.08			14,452		1,173,062			268,007
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		5.00			3.08			20,181		1,638,082			236,156
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		5.00			3.08			3,883		315,181			72,008
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		5.00			3.08			5,537		449,436			69,035
CDX-NAHY
Series 21, 5 Year Index, 12/20/18*		5.00			3.08			427		34,659			5,323
CDX-NAHY
Series 22, 5 Year Index, 6/20/19*		5.00			3.33			7,265		553,097			41,262
CDX-NAHY
Series 22, 5 Year Index, 6/20/19*		5.00			3.33			5,729		436,159			32,539


Clearing Broker/(Exchange) & Referenced Obligation	Fixed Rate (Pay) Receive			Implied Credit Spread at March 31,2014			Notional Amount (000)		Market Value		Unrealized Appreciation/ (Depreciation)
CDX-NAHY
Series 22, 5 Year Index, 6/20/19*		5.00	%		3.33	%	$	3,839	$	292,270	$	20,511
CDX-NAHY
Series 22, 5 Year Index, 6/20/19*		5.00			3.33			2,315		176,245		13,091
CDX-NAHY
Series 22, 5 Year Index, 6/20/19*		5.00			3.33			2,558		194,745		12,869
CDX-NAHY
Series 22, 5 Year Index, 6/20/19*		5.00			3.33			2,362		179,823		11,883
CDX-NAHY
Series 22, 5 Year Index, 6/20/19*		5.00			3.33			5,799		443,430		9,665
CDX-NAHY
Series 22, 5 Year Index, 6/20/19*		5.00			3.33			2,315		176,245		5,435

									$	3,491,584	$	655,836

CREDIT DEFAULT SWAPS


Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Implied Credit Spread at March 31, 2014			Notional Amount (000)		Market Value		Upfront Premiums Paid (Received)		Unrealized Appreciation/ (Depreciation)
Buy Contracts
Bank of America, NA:
Russian Federation,
7.50%, 3/31/30, 3/20/19*		(1.00	)%		2.10	%	$	6,800	$	327,715	$	361,508	$	(33,793	)
Sale Contracts
Morgan Stanley Capital Services LLC:
CDX-NAHY
Series 15, 5 Year Index, 12/20/15*		5.00			1.55			20,544		1,240,226		166,831		1,073,395

									$	1,567,941	$	528,339	$	1,039,602

* Termination date

REVERSE REPURCHASE AGREEMENTS


Broker	Interest Rate			Maturity	U.S. $ Value at March 31, 2014
Barclays capital Inc.+		(2.75	)%*	—	$	1,689,226
Barclays capital Inc.+		(2.50	)%*	—		978,409
Barclays capital Inc.+		(1.25	)%*	—		1,663,529
Barclays capital Inc.+		0.00	%*	—		2,677,500
Credit Suisse First Boston+		0.00	%*	—		6,705,075
Credit Suisse Securities (USA) LLC+		(1.25	)%*	—		765,831


Broker	Interest Rate			Maturity	U.S. $ Value at March 31, 2014
Credit Suisse Securities (USA) LLC+		(0.15	)%*	—	$	2,040,466
Deutsche Bank		0.10	%	6/04/14		106,868,015
HSBC		0.10	%	5/20/14		45,942,732
HSBC		0.11	%	4/10/14		50,568,820
HSBC		0.11	%	4/29/14		77,006,117
HSBC		0.12	%	6/19/14		19,303,401
JPMorgan Chase		0.10	%	4/14/14		43,610,576
JPMorgan Chase		0.11	%	6/11/14		102,089,050
JPMorgan Chase		0.12	%	4/03/14		46,822,019
JPMorgan Chase		0.12	%	5/02/14		73,782,305
JPMorgan Chase		0.12	%	5/05/14		81,015,120
JPMorgan Chase		0.12	%	5/28/14		203,614,002
Nomura International+		(0.25	)%*	—		2,294,904

					$	869,437,097

+	The reverse repurchase agreement matures on demand. Interest rate resets daily and the rate shown is the rate in effect on March 31, 2014

*	Interest payment due from counterparty.

(a)

Position, or a portion thereof, has been segregated to collateralize reverse repurchase agreements. The market value of the collateral amounted to $857,339,920.

(b)

Position, or a portion thereof, has been segregated to collateralize margin requirements for open futures contracts. The market value of the collateral amounted to $15,501,321.

(c)

Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2014, the aggregate market value of these securities amounted to $263,014,345 or 13.0% of net assets.

(d)

Pay-In-Kind Payments (PIK).

(e)

Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at March 31, 2014.

(f)

Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities, which represent 0.11% of net assets as of March 31, 2014, are considered illiquid and restricted.

Restricted Securities

Acquisition
Date

Cost

Market
Value

Percentage of
Net Assets

European Media Capital SA

10.00%, 2/01/15

8/18/10

2,026,534

1,853,181

0.09

IIRSA Norte Finance Ltd.

8.75%, 5/30/24

8/20/09

292,454

327,431

0.02

(g)

Floating Rate Security. Stated interest rate was in effect at March 31, 2014.

(h)

IO - Interest Only

(i)

Fair valued by the Adviser.

(j)

Restricted and illiquid security.

Restricted Securities

Acquisition
Date

Cost

Market
Value

Percentage of
Net Assets

Gallery Media

9/03/10

1,010,650

0.05

Mt. Logan Re (Preference Shares)

7/01/13

10,550,000

11,422,221

0.57

(k)

Non-income producing security.

(l)

Illiquid security.

(m)

Investment in affiliated money market mutual fund. The rate shown represents the 7-day yield as of period end.

(n)

As of March 31, 2014, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $82,050,795 and gross unrealized depreciation of investments was $(16,845,128), resulting in net unrealized appreciation of $65,205,667.

^	The security is subject to a 12 month lock-up period, after which semi-annual redemptions are permitted.

Currency Abbreviations:


AUD	-	Australian Dollar
BRL	-	Brazilian Real
EUR	-	Euro
GBP	-	Great British Pound
IDR	-	Indonesian Rupiah
JPY	-	Japanese Yen
MXN	-	Mexican Peso
MYR	-	Malaysian Ringgit
NZD	-	New Zealand Dollar
PEN	-	Peruvian Nuevo Sol
PLN	-	Polish Zloty
USD	-	United States Dollar

Glossary:


ARMs	-	Adjustable Rate Mortgages
BBR	-	British Bankers Association
BKBM	-	Bank Bill Benchmark (New Zealand)
CBT	-	Chicago Board of Trade
CDX-NAHY	-	North American High Yield Credit Default Swap Index
CMBS	-	Commercial Mortgage-Backed Securities
GO	-	General Obligation
INTRCONX	-	Inter-Continental Exchange
LCH	-	London Clearing House
LIBOR	-	London Interbank Offered Rates
REIT	-	Real Estate Investment Trust

Country Breakdown *

March 31, 2014 (unaudited)


			86.9%			United States
			2.1%			Brazil
			1.5%			Mexico
			0.9%			United Kingdom
			0.8%			Canada
			0.5%			Switzerland
			0.4%			Hungary
			0.4%			Indonesia
			0.3%			Luxembourg
			0.3%			France
			0.3%			Germany
			0.3%			Peru
			0.3%			India
			2.5%			Other
			2.5%			Short-Term

			100.0%

All data are as of March 31, 2014. The Fund’s country breakdowns are expressed as a percentage of total investments and may vary over time. “Other” country weightings represent 0.2% or less in the following countries: Australia, Barbados, Belgium, Chile, Colombia, Croatia, El Salvador, Guatemala, Jamaica, Japan, Netherlands, Norway, Portugal, Russia, Singapore, South Africa, Spain, Sri Lanka and Venezuela.

AllianceBernstein Income Fund

March 31, 2014 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

•

Level 1—quoted prices in active markets for identical investments

•

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3—significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, by pricing vendors, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

Options and warrants are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option or a warrant depends upon the contractual terms of, and specific risks inherent in, the option or warrant as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options will be classified as Level 2. For options or warrants that do not trade on exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options and warrants are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments are classified as Level 3.

Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of March 31, 2014:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Governments - Treasuries

– 0

–

1,853,611,088

– 0

–

1,853,611,088

Corporates - Non-Investment Grades

– 0

–

288,145,103

2,213,607

290,358,710

Corporates - Investment Grades

– 0

–

192,239,940

– 0

–

192,239,940

Investments in Securities:

Level 1

Level 2

Level 3

Total

Agencies

– 0

–

133,735,938

– 0

–

133,735,938

Collateralized Mortgage Obligations

– 0

–

– 0

–

84,122,379

Emerging Markets - Corporate Bonds

– 0

–

45,891,520

1,853,181

47,744,701

Commercial Mortgage-Backed Securities

– 0

–

3,735,498

40,983,467

44,718,965

Preferred Stocks

38,208,054

– 0

–

– 0

–

38,208,054

Mortgage Pass-Throughs

– 0

–

33,281,457

– 0

–

33,281,457

Bank Loans

– 0

–

– 0

–

28,063,403

Local Governments - Municipal Bonds

– 0

–

26,426,211

– 0

–

26,426,211

Quasi-Sovereigns

– 0

–

23,400,270

– 0

–

23,400,270

Governments - Sovereign Bonds

– 0

–

19,211,064

– 0

–

19,211,064

Common Stocks

– 0

–

– 0

–

13,013,219

Whole Loan Trusts

– 0

–

– 0

–

10,578,296

Emerging Markets - Sovereigns

– 0

–

7,220,380

– 0

–

7,220,380

Governments - Sovereign Agencies

– 0

–

4,003,358

– 0

–

4,003,358

Options Purchased - Calls

– 0

–

239,271

– 0

–

239,271

Short-Term Investments:

Investment Companies

51,509,967

– 0

–

– 0

–

51,509,967

Governments - Treasuries

– 0

–

20,317,147

– 0

–

20,317,147

Total Investments in Securities

89,718,021

2,651,458,245

180,827,552

2,922,003,818

Other Financial Instruments* :

Assets:

Futures

3,201,845

– 0

–

– 0

–

3,201,845

Forward Currency Exchange Contracts

– 0

–

877,603

– 0

–

877,603

Centrally Cleared Interest Rate Swaps

– 0

–

111,659

– 0

–

111,659

Centrally Cleared Credit Default Swaps

– 0

–

797,784

– 0

–

797,784

Credit Default Swaps

– 0

–

1,073,395

– 0

–

1,073,395

Liabilities:

Futures

(3,677,472

)

– 0

–

– 0

–

(3,677,472

)

Forward Currency Exchange Contracts

– 0

–

(2,865,954

)

– 0

–

(2,865,954

)

Centrally Cleared Interest Rate Swaps

– 0

–

(1,668,079

)

– 0

–

(1,668,079

)

Centrally Cleared Credit Default Swaps

– 0

–

(141,948

)

– 0

–

(141,948

)

Credit Default Swaps

– 0

–

(33,793

)

– 0

–

(33,793

)

Total +

89,242,394

2,649,608,912

180,827,552

2,919,678,858

*	Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation/depreciation on the instrument.

+ There were no transfers between Level 1 and Level 2 during the reporting period.

The Fund recognizes all transfers between levels of the fair value hierarchy assuming the financial instruments were transferred at the beginning of the reporting period.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.

Corporates - Non-
Investment Grades

Collateralized
Mortgage
Obligations

Emerging Markets -
Corporate Bonds

Balance as of 12/31/13

61,229

64,909,110

1,741,990

Accrued discounts/(premiums)

(5,549

)

128,575

(51,512

)

Realized gain (loss)

– 0

–

22,097

– 0

–

Change in unrealized appreciation/depreciation

5,427

1,537,968

162,703

Purchases

2,152,500

21,638,631

– 0

–

Sales

– 0

–

(4,114,002

)

– 0

–

Transfers in to Level 3

– 0

–

– 0

–

– 0

–

Transfers out of Level 3

– 0

–

– 0

–

– 0

–

Balance as of 3/31/14

2,213,607

84,122,379

1,853,181

Net change in unrealized appreciation/depreciation from Investments held as of 3/31/14

5,427

1,537,968

162,703


	Commercial Mortgage-Backed Securities			Bank Loans			Common Stocks
Balance as of 12/31/13	$	36,857,033		$	29,926,235		$	14,265,067
Accrued discounts/(premiums)		16,979			12,891			– 0	–
Realized gain (loss)		– 0	–		(152,487	)		– 0	–
Change in unrealized appreciation/depreciation		710,114			335,279			(1,251,848	)
Purchases		3,399,341			844,453			– 0	–
Sales		– 0	–		(2,902,968	)		– 0	–
Transfers in to Level 3		– 0	–		– 0	–		– 0	–
Transfers out of Level 3		– 0	–		– 0	–		– 0	–

Balance as of 3/31/14	$	40,983,467		$	28,063,403		$	13,013,219

Net change in unrealized appreciation/depreciation from Investments held as of 3/31/14	$	710,114		$	(82,872	)	$	(1,251,848	)


	Whole Loan Trusts			Total
Balance as of 12/31/13	$	7,238,193		$	154,998,857
Accrued discounts/(premiums)		(6,598	)		94,786
Realized gain (loss)		(3,855	)		(134,245	)
Change in unrealized appreciation/depreciation		40,954			1,540,597
Purchases		3,469,308			31,504,233
Sales		(159,706	)		(7,176,676	)
Transfers in to Level 3		– 0	–		– 0	–
Transfers out of Level 3		– 0	–		– 0	–

Balance as of 3/31/14	$	10,578,296		$	180,827,552

Net change in unrealized appreciation/depreciation from Investments held as of 3/31/14	$	40,954		$	1,122,446

The following presents information about significant unobservable inputs related to the Portfolio with material categories of Level 3 investments at March 31, 2014:

Quantitative Information about Level 3 Fair Value Measurements


	Fair Value at 3/31/14		Valuation Technique	Unobservable Input	Range/ Weighted Average
Corporates—Non-Investment Grades	$	2,213,607	Third Party Vendor	Evaluated Quotes	$	107.38 – $155.55 / $112.16
Collateralized Mortgage Obligations	$	84,122,379	Third Party Vendor	Evaluated Quotes	$	20.75 – $122.33 / $87.41
Emerging Markets—Corporate Bonds	$	1,853,181	Indicative Market Quotations	Broker Quote	$	100.00 / NA
Commercial Mortgage-Backed Securities	$	40,983,467	Third Party Vendor	Evaluated Quotes	$	0.49 – $146.94 / $101.45
Bank Loans	$	28,063,403	Third Party Vendor	Vendor Quotes	$	97.13 – $137.94 /$101.69
Common Stocks	$	1,010,650	Indicative Market Quotations	Broker Quote	$	1,450.00/ N/A
	$	11,422,221	Practical Expedient	NAV	$	1,083.68/ N/A
	$	580,348	Market Approach	EBITDA Projection*	$	150.5 million
Whole Loan Trusts	$	4,019,754	Market Approach	Internal Rate of Return		Benchmark & 500 bp
	$	6,558,542	Qualitative Assessment	Transaction Price	$	100.00/ $100

*	Earnings before Interest, Taxes, Depreciation and Amortization.

The Adviser has established a Valuation Committee (the “Committee”) which is responsible for overseeing the pricing and valuation of all securities held in the Fund. The Committee operates under pricing and valuation policies and procedures established by the Adviser and approved by the Board, including pricing policies which set forth the mechanisms and processes to be employed on a daily basis to implement these policies and procedures. In particular, the pricing policies describe how to determine market quotations for securities and other instruments. The Committee’s responsibilities include: 1) fair value and liquidity determinations (and oversight of any third parties to whom any responsibility for fair value and liquidity determinations is delegated), and 2) regular monitoring of the Adviser’s pricing and valuation policies and procedures and modification or enhancement of these policies and procedures (or recommendation of the modification of these policies and procedures) as the Committee believes appropriate.

The Committee is also responsible for monitoring the implementation of the pricing policies by the Adviser’s Pricing Group (the “Pricing Group”) and a third party which performs certain pricing functions in accordance with the pricing policies. The Pricing Group is responsible for the oversight of the third party on a day-to-day basis. The Committee and the Pricing Group perform a series of activities to provide reasonable assurance of the accuracy of prices including: 1) periodic vendor due diligence meetings, review of methodologies, new developments and process at vendors, 2) daily compare of security valuation versus prior day for all securities that exceeded established thresholds, and 3) daily review of unpriced, stale, and variance reports with exceptions reviewed by senior management and the Committee.

In addition, several processes outside of the pricing process are used to monitor valuation issues including: 1) performance and performance attribution reports are monitored for anomalous impacts based upon benchmark performance, and 2) portfolio managers review all portfolios for performance and analytics (which are generated using the Adviser’s prices).

ITEM 2.

CONTROLS AND PROCEDURES.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no changes in the registrant’s internal controls over financial reporting that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 3.

EXHIBITS.

The following exhibits are attached to this Form N-Q:


EXHIBIT NO.		DESCRIPTION OF EXHIBIT

3(a)(1)		Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

3(a)(2)		Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant): AllianceBernstein Income Fund, Inc.


By:		/s/ Robert M. Keith
		Robert M. Keith
		President

Date:		May 22, 2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:		/s/ Robert M. Keith
		Robert M. Keith
		President

Date:		May 22, 2014

By:		/s/ Joseph J. Mantineo
		Joseph J. Mantineo
		Treasurer and Chief Financial Officer

Date:		May 22, 2014