AllianceBernstein Income Fund Releases Monthly Portfolio Update

NEW YORK, Feb. 24, 2014 /PRNewswire/ -- AllianceBernstein Income Fund, Inc. [NYSE: ACG] (the "Fund") today released its monthly portfolio update as of January 31, 2014.

AllianceBernstein Income Fund, Inc.




Top 10 Fixed Income Holdings



Portfolio %

1) U.S. Treasury Bonds 6.00%, 2/15/26

21.90%

2) U.S. Treasury Bonds 6.375%, 8/15/27

17.83%

3) U.S. Treasury Notes 3.625%, 2/15/21

16.22%

4) U.S. Treasury Bonds 6.50%, 11/15/26

12.60%

5) U.S. Treasury Notes 2.125%, 8/31/20 - 8/15/21

9.99%

6) U.S. Treasury Notes 3.125%, 5/15/21

5.05%

7) U.S. Treasury Notes 2.625%, 11/15/20

3.48%

8) Federal National Mortgage Association 5.375%, 6/12/17

3.39%

9) Residual Funding Corp. Principal Strip  Zero Coupon, 7/15/20

1.79%

10) Brazil Notas do Tesouro Nacional Series F 10.00%, 1/01/17

1.04%



Investment Type



Portfolio %

Global Governments

33.46%

Corporates - Non-Investment Grades


Industrial


Communications - Media

2.70%

Energy

1.68%

Consumer Non-Cyclical

1.52%

Capital Goods

1.25%

Basic

0.91%

Consumer Cyclical - Retailers

0.69%

Technology

0.69%

Communications - Telecommunications

0.68%

Consumer Cyclical - Other

0.67%

Services

0.37%

Consumer Cyclical - Automotive

0.27%

Other Industrial

0.19%

Transportation - Services

0.14%

Consumer Cyclical - Entertainment

0.05%


Page 18 of 23



SUBTOTAL

11.81%

Credit Default Swaps

3.46%

Financial Institutions


Banking

0.86%

Finance

0.44%

Other Finance

0.27%

REITS

0.15%

Insurance

0.13%

SUBTOTAL

1.85%

Utility


Electric

1.01%

Natural Gas

0.33%

SUBTOTAL

1.34%

SUBTOTAL

18.46%

Corporates - Investment Grades


Industrial


Communications - Telecommunications

1.63%

Basic

0.86%

Capital Goods

0.82%

Energy

0.65%

Consumer Non-Cyclical

0.53%

Communications - Media

0.50%

Consumer Cyclical - Retailers

0.27%

Technology

0.25%

Consumer Cyclical - Entertainment

0.17%

Consumer Cyclical - Other

0.11%

Transportation - Airlines

0.08%

Transportation - Services

0.06%

Consumer Cyclical - Automotive

0.04%

SUBTOTAL

5.97%

Financial Institutions


Insurance

1.23%

Banking

0.97%

REITS

0.57%

Finance

0.15%

Other Finance

0.02%

SUBTOTAL

2.94%

Non Corporate Sectors


Agencies - Not Government Guaranteed

1.39%

SUBTOTAL

1.39%

Utility


Electric

0.12%

SUBTOTAL

0.12%

Credit Default Swaps

-0.13%

SUBTOTAL

10.29%

Agencies


Agency Subordinated

3.40%

Agency Debentures

3.30%

SUBTOTAL

6.70%

Collateralized Mortgage Obligations


Non-Agency Fixed Rate

2.04%


Page 19 of 23



Non-Agency Floating Rate

1.57%

SUBTOTAL

3.61%

Emerging Markets - Corporate Bonds


Industrial


Consumer Non-Cyclical

0.62%

Communications - Telecommunications

0.41%

Capital Goods

0.34%

Energy

0.23%

Consumer Cyclical - Retailers

0.21%

Transportation - Airlines

0.19%

Basic

0.16%

Communications - Media

0.09%

SUBTOTAL

2.25%

SUBTOTAL

2.25%

Commercial Mortgage-Backed Securities


Non-Agency Fixed Rate CMBS

1.86%

SUBTOTAL

1.86%

Preferred Stocks


Financial Institutions

1.58%

Industrial

0.15%

SUBTOTAL

1.73%

Mortgage Pass-Throughs


Agency Fixed Rate 30-Year

1.06%

Agency ARMs

0.64%

SUBTOTAL

1.70%

Bank Loans


Industrial


Consumer Non-Cyclical

0.41%

Consumer Cyclical - Automotive

0.32%

Technology

0.21%

Other Industrial

0.20%

Communications - Media

0.17%

Basic

0.10%

Consumer Cyclical - Other

0.08%

Energy

0.01%

SUBTOTAL

1.50%

SUBTOTAL

1.50%

Local Governments - Municipal Bonds

1.29%

Quasi-Sovereigns


Quasi-Sovereign Bonds

1.09%

SUBTOTAL

1.09%

Common Stocks

0.65%

Governments - Sovereign Agencies

0.58%

Whole Loan Trusts


Performing Asset

0.36%

SUBTOTAL

0.36%

Emerging Markets - Sovereigns

0.35%

Currency Instruments


Forward Currency Exchange Contracts

0.03%

SUBTOTAL

0.03%

Interest Rate Swaps - SIFMA

-1.68%


Page 20 of 23



Reverse Repurchase Agreements

-44.28%

Net Cash Equivalents


Cash

4.21%

Investment Companies

0.15%

SUBTOTAL

4.36%

Derivative Offsets


Futures Offsets

57.40%

Swaps Offsets

-1.71%

SUBTOTAL

55.69%


100.00%



Country Breakdown



Portfolio %

United States

88.75%

Brazil

2.07%

Russia

1.52%

Mexico

1.46%

United Kingdom

0.84%

Canada

0.75%

Switzerland

0.47%

Luxembourg

0.40%

Indonesia

0.35%

Germany

0.30%

Hungary

0.28%

France

0.25%

India

0.25%

Netherlands

0.24%

El Salvador

0.20%

Spain

0.20%

Peru

0.20%

Venezuela

0.18%

Colombia

0.16%

Portugal

0.14%

Norway

0.14%

South Africa

0.12%

Chile

0.11%

Croatia

0.11%

Barbados

0.10%

Belgium

0.10%

Singapore

0.08%

Guatemala

0.07%

Australia

0.07%

Jamaica

0.05%

Sri Lanka

0.04%

Total Investments

100.00%



Net Currency Exposure Breakdown



Portfolio %

United States Dollar

97.39%

Brazilian Real

0.98%

Russian Rubles

0.88%

Swedish Krona

0.50%


Page 21 of 23



New Zealand Dollar

0.49%

New Turkish Lira

0.26%

Indonesian Rupiah

0.25%

Nigerian Naira

0.21%

Euro

0.03%

Australian Dollar

0.01%

Mexican Peso

-0.03%

Canadian Dollar

-0.48%

Great British Pound

-0.49%

Total Net Assets

100.00%



Credit Rating



Portfolio %

AAA

52.87%

AA

0.15%

A

4.02%

BBB

12.62%

BB

10.66%

B

8.61%

CCC

3.37%

CC

0.53%

D

0.23%

Not Rated

1.01%

Short Term Investments

0.15%

N/A

5.78%


100.00%



Bonds By Maturity



Portfolio %

Less than 1 year

-38.81%

1 to 5 years

19.10%

5 to 10 years

54.30%

10 to 20 years

56.95%

20 to 30 years

6.18%

More than 30 years

1.63%

Other

0.65%

Total Net Assets

100.00%



Portfolio Statistics:


Average Coupon:

7.70%

Average Bond Price :

116.07

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

47.50%*

Preferred Stock:

0.00%

Tender Option Bonds:

0.00%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

47.50%

Average Maturity:

14.20 Years

Effective Duration:

6.05 Years


Page 22 of 23



Total Net Assets:

$1,999.48 Million

Net Asset Value:

$8.23

Number of Holdings:

416

Portfolio Turnover:

58%

* Investment Operations may include the use of certain portfolio


management techniques such as credit default swaps, dollar rolls,


negative cash, reverse repurchase agreements and when-issued


securities.


The foregoing portfolio characteristics are as of the date indicated


and can be expected to change. The Fund is a closed-end U.S.-


registered management investment company advised by AllianceBernstein


L. P.


SOURCE AllianceBernstein Income Fund, Inc.

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