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)

Mark R. Manley

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, 2007

Date of reporting period: March 31, 2007

ITEM 1.

SCHEDULE OF INVESTMENTS.

AllianceBernstein Income Fund

PORTFOLIO OF INVESTMENTS

March 31, 2007 (unaudited)


		Principal Amount (000)	U.S.$ Value
U.S. TREASURIES–58.5%
United States Treasury Bonds
5.375%, 2/15/31(a)(b)	U.S.$	1,961	$	2,090,610
6.625%, 2/15/27(a)(b)		73,570		89,238,129
7.25%, 5/15/16(a)(b)		21,695		25,812,820
8.75%, 5/15/17(a)(b)		8,075		10,674,770
11.25%, 2/15/15(a)(c)		168,000		240,528,792
12.00%, 8/15/13(a)(b)(c)		82,000		89,812,386
12.50%, 8/15/14(a)(c)		70,300		82,786,475
13.25%, 5/15/14(a)(b)		150,000		176,015,700
United States Treasury Notes
3.50%, 11/15/09(a)(b)(c)		10,854		10,572,046
4.00%, 2/15/15(a)(b)		179		171,602
4.125%, 8/15/08–5/15/15(a)(b)		3,074		3,019,931
4.25%, 11/15/13–8/15/14(a)(b)		427		418,680
4.375%, 8/15/12(a)(b)		700		695,598
4.50%, 2/15/16(a)(b)		598		591,927
4.625%, 11/15/16(a)(c)		15,966		15,919,220
4.75%, 5/15/14(a)(c)		60,280		60,823,906
4.875%, 5/31/08–8/15/16(a)(b)(c)		81,250		82,446,136
5.125%, 5/15/16(a)(c)		12,000		12,407,340
United States Treasury Strips
Zero Coupon, 5/15/17–11/15/21(a)(b)(c)		545,350		299,268,161

Total U.S. Treasuries
(cost $1,251,358,141)				1,203,294,229


MORTGAGE PASS-THRUS–37.5%
FIXED RATE 30-YEAR–25.3%
Federal Home Loan Mortgage Corp.
6.00%, 9/01/36(a)(b)		91,160		91,894,206
7.00%, 2/01/37(a)(b)		27,075		27,914,238
Federal National Mortgage Association
5.00%, 12/01/36–1/01/37(a)(b)		17,778		17,176,299
5.50%, 1/01/36–8/01/36(a)(b)		121,136		119,982,325
6.50%, TBA		53,630		54,702,600
7.50%, 11/01/29(a)(b)		133		139,158
8.00%, 6/01/28(a)(b)		110		115,814
Government National Mortgage Association
5.50%, 7/15/33–12/15/36(a)(b)		209,859		208,634,009
6.50%, 2/15/29(a)(b)		114		117,577

				520,676,226

1 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
AGENCY ARMS–12.2%
Federal Home Loan Mortgage Corp.
4.208%, 4/01/35(a)(b)(d)	U.S.$	7,123	$	7,051,903
4.233%, 10/01/35(a)(b)(d)		2,377		2,383,560
4.575%, 4/01/35(a)(b)(d)		1,730		1,727,026
4.669%, 6/01/35(a)(b)(d)		3,522		3,522,164
5.79%, 12/01/36(a)(b)(d)		13,688		13,843,856
5.805%, 2/01/37(a)(b)(d)		12,129		12,225,787
5.809%, 2/01/37(a)(b)(d)		24,709		24,923,716
5.825%, 3/01/37(a)(b)(d)		25,006		25,237,808
5.894%, 1/01/37(a)(b)(d)		50,724		51,168,863
5.979%, 3/01/37(a)(d)		15,480		15,696,895
6.134%, 8/01/36(a)(b)(d)		50,000		50,481,000
Federal National Mortgage Association
4.103%, 11/01/34(a)(b)(d)		2,371		2,389,472
4.177%, 9/01/35(a)(b)(d)		1,343		1,346,238
4.41%, 8/01/34(a)(b)(d)		2,193		2,206,219
4.464%, 1/01/36(a)(b)(d)		1,997		2,002,615
4.699%, 5/01/35(a)(b)(d)		2,336		2,334,412
4.803%, 7/01/35(a)(b)(d)		4,869		4,868,939
4.825%, 7/01/35(a)(b)(d)		2,075		2,074,543
5.867%, 11/01/36(a)(b)(d)		20,824		21,038,455
6.897%, 1/01/36(a)(b)(d)		3,398		3,478,501

				250,001,972

Total Mortgage Pass-Thrus
(cost $768,821,270)				770,678,198


EMERGING MARKETS—NON-INVESTMENT GRADE–21.9%
CORPORATES–0.2%
Financial Institutions–0.0%
Banking–0.0%
Banco BMG S.A.
9.15%, 1/15/16(a)(e)		400		430,000

Finance–0.0%
Iirsa Norte Finance, Ltd.
8.75%, 5/30/24(a)(e)		317		372,392

				802,392

Industrial–0.1%
Communications—Media–0.0%
Gallery Capital
10.125%, 5/15/13(a)(e)		315		305,550

ALLIANCEBERNSTEIN INCOME FUND • 2


		Principal Amount (000)	U.S.$ Value
Communications - Telecommunication–0.1%
Mobile Telesystems Finance S.A.
9.75%, 1/30/08(a)(e)	U.S.$	460	$	473,570

Consumer Non-Cyclical–0.0%
Foodcorp, Ltd.
8.875%, 6/15/12(a)(e)	EUR	194		276,000

				1,055,120

Non Corporate Sectors–0.1%
Sovereign–0.1%
Alpha Bond Issuance PLC for OJC
8.625%, 12/09/15(a)	U.S.$	300		299,913
Republic of El Salvador
7.625%, 9/21/34(a)(e)		527		607,368

				907,281

				907,281

				2,764,793

SOVEREIGNS–21.7%
Argentina–1.6%
Republic of Argentina
Zero coupon, 12/15/35(a)	ARS	4,423		168,180
0.63%, 12/31/38(a)		1,285		234,545
5.475%, 8/03/12FRN(a)	U.S.$	15,584		14,773,349
5.83%, 12/31/33(a)	ARS	1,500		703,238
7.00%, 3/28/11(a)	U.S.$	365		361,837
7.82%, 12/31/33(a)	EUR	7,161		9,829,575
8.28%, 12/31/33(a)(c)	U.S.$	6,480		7,549,075

				33,619,799

Brazil–9.3%
Brazilian Real Structured Notes
Zero coupon, 1/05/10(a)(e)	BRL	94,475		33,856,099
Republic of Brazil
6.00%, 1/17/17(a)	U.S.$	1,038		1,048,380
7.125%, 1/20/37(a)		6,969		7,658,931
8.00%, 1/15/18(a)		1,144		1,291,576
8.25%, 1/20/34(a)		6,728		8,420,092
8.875%, 10/14/19–4/15/24(a)		10,161		12,926,016
10.25%, 1/10/28(a)	BRL	5,863		2,831,474
11.00%, 8/17/40(a)	U.S.$	271		365,172
12.50%, 1/05/16–1/05/22(a)	BRL	219,218		123,232,329

				191,630,069

Columbia–0.2%
Republic of Colombia

3 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
7.375%, 9/18/37(a)	U.S.$	748	$	813,824
8.125%, 5/21/24(a)		400		466,000
10.75%, 1/15/13(a)		314		389,046
11.75%, 2/25/20(a)		1,232		1,804,880

				3,473,750

Costa Rica–0.0%
Costa Rican Colon Structured Notes
Zero coupon, 1/10/08(a)(e)	CRC	198,829		361,507
Republic of Costa Rica
8.05%, 1/31/13(a)(e)	U.S.$	220		241,120
8.11%, 2/01/12(a)(e)		202		217,958

				820,585

Dominican Republic–0.1%
Dominican Peso Structured Notes
Zero Coupon, 6/11/07–4/11/08(a)(e)	DOP	27,342		734,102
Dominican Republic
8.625%, 4/20/27(a)(e)	U.S.$	406		466,900

				1,201,002

El Salvador–0.0%
Republic of El Salvador
7.65%, 6/15/35(a)(e)		231		263,918

Indonesia–0.7%
Indonesian Rupiah Structured Notes
11.00%, 10/15/14–11/18/20(a)(e)	IDR	8,594,537		1,001,614
12.90%, 6/17/22(a)(e)		2,102,200		270,457
14.25%, 6/19/13(a)(e)		80,000,000		10,692,921
Republic of Indonesia
6.625%, 2/17/37(a)(e)	U.S.$	500		492,500
6.75%, 3/10/14(a)(e)		565		587,600
6.875%, 3/09/17(a)(e)		269		283,187
7.25%, 4/20/15(a)(e)		362		389,150
8.50%, 10/12/35(a)(e)		501		612,996

				14,330,425

Jamaica–0.0%
Government of Jamaica
9.25%, 10/17/25(a)		104		119,080
10.625%, 6/20/17(a)		207		251,505

				370,585

Lebanon–0.1%
Lebanese Republic
7.875%, 5/20/11(a)(e)		420		412,230
10.125%, 8/06/08(a)(e)		875		889,875

ALLIANCEBERNSTEIN INCOME FUND • 4


		Principal Amount (000)	U.S.$ Value
11.625%, 5/11/16(a)(e)	U.S.$	120	$	141,000

				1,443,105

Panama–0.2%
Republic of Panama
6.70%, 1/26/36(a)		654		678,525
7.125%, 1/29/26(a)		1,133		1,223,640
7.25%, 3/15/15(a)		142		153,715
8.875%, 9/30/27(a)		656		835,744
9.375%, 7/23/12–4/01/29(a)		1,670		2,118,277

				5,009,901

Peru–0.5%
Republic of Peru
7.35%, 7/21/25(a)		1,632		1,856,400
8.375%, 5/03/16(a)		4,454		5,289,125
8.75%, 11/21/33(a)		2,669		3,509,735
9.875%, 2/06/15(a)		246		312,789

				10,968,049

Philippines–1.5%
Republic of Philippines
7.50%, 9/25/24(a)		855		939,431
7.75%, 1/14/31(a)		4,441		5,007,227
8.00%, 1/15/16(a)		292		328,938
8.25%, 1/15/14(a)		1,113		1,248,230
8.375%, 2/15/11(a)		84		91,686
8.875%, 3/17/15(a)		2,203		2,583,018
9.00%, 2/15/13(a)		266		306,299
9.50%, 10/21/24–2/02/30(a)		4,855		6,438,962
9.875%, 1/15/19(a)		1,087		1,401,143
10.625%, 3/16/25(a)		8,768		12,428,640

				30,773,574

Turkey–6.0%
Republic of Turkey
6.875%, 3/17/36(a)		1,073		1,026,056
7.00%, 6/05/20(a)		1,430		1,439,295
7.375%, 2/05/25(a)		1,938		1,986,450
8.00%, 2/14/34(a)		150		163,313
9.50%, 1/15/14(a)		740		859,732
11.00%, 1/14/13(a)		2,090		2,555,025
11.50%, 1/23/12(a)		1,145		1,395,755
11.75%, 6/15/10(a)		623		730,468
Turkey Government Bond
Zero coupon, 7/16/08–11/26/08(a)	TRY	108,983		61,329,493

5 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
Turkish Lira Structured Notes
Zero coupon, 6/28/07(a)(e)	TRY	75,196	$	52,036,704

				123,522,291

Ukraine–0.1%
Government of Ukraine
6.58%, 11/21/16(a)(e)	U.S.$	453		459,342
7.65%, 6/11/13(a)(e)		438		474,792

				934,134

Uruguay–0.4%
Republic of Uruguay
7.625%, 3/21/36(a)		185		205,110
7.875%, 1/15/33PIK(a)		432		488,370
8.00%, 11/18/22(a)		5,240		5,947,394
9.25%, 5/17/17(a)		739		905,275

				7,546,149

Venezuela–1.0%
Republic of Venezuela
5.75%, 2/26/16(a)		2,034		1,909,926
6.00%, 12/09/20(a)		170		156,655
6.36%, 4/20/11FRN(a)(d)(e)		420		415,716
7.00%, 12/01/18(a)(e)		3,114		3,157,596
7.65%, 4/21/25(a)		400		421,000
8.50%, 10/08/14(a)		689		761,345
9.25%, 9/15/27(a)		6,098		7,616,402
10.75%, 9/19/13(a)		4,661		5,663,115
13.625%, 8/15/18(a)		637		937,345

				21,039,100

				446,946,436

Total Emerging Markets—Non-Investment Grade
(cost $400,020,678)				449,711,229


NON-US DOLLAR–6.5%
GOVERNMENT-RELATED—SOVEREIGNS–6.2%
Australia–0.1%
Australia (Commonwealth of)
5.25%, 8/15/10(a)	AUD	980		771,371

Columbia–1.4%
Republic of Colombia
11.75%, 3/01/10(a)	COP	28,304,000		13,659,011

ALLIANCEBERNSTEIN INCOME FUND • 6


		Principal Amount (000)	U.S.$ Value
12.00%, 10/22/15(a)	COP	28,545,000	$	15,111,413

				28,770,424

Japan–0.0%
Japan (Government of)
1.40%, 3/20/12(a)	JPY	42,050		360,423

Mexico–2.6%
Mexico
8.00%, 12/07/23(a)	MXN	18,624		1,745,625
10.00%, 12/05/24(a)		424,225		47,244,755
United Mexican States
8.00%, 12/24/08(a)		3,550		325,147
9.00%, 12/20/12(a)		39,749		3,863,908

				53,179,435

Peru–0.2%
Peru Bono Soberano
7.84%, 8/12/20(a)	PEN	1,350		490,361
8.20%, 8/12/26(a)		2,039		776,069
8.60%, 8/12/17(a)		7,450		2,776,386
9.91%, 5/05/15(a)		1,600		634,128

				4,676,944

Poland–0.0%
Poland Government Bond
5.00%, 10/24/13(a)	PLN	875		300,018

South Africa–0.7%
Republic of South Africa
13.00%, 8/31/10(a)	ZAR	95,000		14,926,046

Spain–0.0%
Kingdom of Spain
5.25%, 4/06/29(a)	GBP	109		222,701

United Kingdom–1.2%
United Kingdom Gilt
4.00%, 3/07/09(a)		8,666		16,614,257
4.25%, 3/07/11–12/07/55(a)		2,735		5,274,908
4.75%, 6/07/10–3/07/20(a)		739		1,439,316
5.00%, 3/07/25(a)		229		466,566

				23,795,047

				127,002,409


GOVERNMENT-RELATED—SUPRANATIONALS–0.2%
European Investment Bank
Zero coupon, 9/12/08(a)(e)	BRL	11,103		4,605,055

7 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
Inter-American Development Bank
9.75%, 5/15/15(a)	GBP	56	$	142,123

				4,747,178


INFLATION-LINKED SECURITIES–0.1%
Republic of Uruguay
5.00%, 9/14/18(a)	UYU	12,700		578,588
Unibanco (Cayman)
8.70%, 2/11/10(a)(e)	BRL	4,290		2,040,576

				2,619,164

Total Non-US Dollar
(cost $128,000,724)				134,368,751


CORPORATES—NON-INVESTMENT GRADE–5.9%
CORPORATES–5.9%
Financial Institutions–0.3%
Banking–0.1%
ALB Finance BV
9.25%, 9/25/13(a)(e)	U.S.$	376		365,303
Kazkommerts International BV
8.50%, 4/16/13(a)(e)		325		342,836
Russian Standard Finance S.A.
7.50%, 10/07/10(a)(e)		386		369,703

				1,077,842

Insurance–0.2%
Fairfax Financial Holdings, Ltd.
8.30%, 4/15/26(a)*		5,000		4,887,500

				5,965,342

Industrial–5.6%
Basic Industry–0.4%
AK Steel Corp.
7.875%, 2/15/09(a)		5,175		5,175,000
Citigroup (JSC Severstal)
9.25%, 4/19/14(a)(e)		230		248,980
Cognis GmbH
9.50%, 5/15/14(a)(e)	EUR	5		7,247
Evraz Group S.A.
8.25%, 11/10/15(a)(e)	U.S.$	489		501,958
Freeport-McMoran Copper & Gold, Inc.
10.125%, 2/01/10(a)		500		526,250
Georgia Gulf Corp.
10.75%, 10/15/16(a)(e)*		250		240,000

ALLIANCEBERNSTEIN INCOME FUND • 8


		Principal Amount (000)	U.S.$ Value
Quality Distribution LLC
9.00%, 11/15/10(a)	U.S.$	1,875	$	1,800,000

				8,499,435

Capital Goods–0.5%
Associated Materials, Inc.
11.25%, 3/01/14(a)(f)		13,045		9,164,113
Covalence Specialty Materials
10.25%, 3/01/16(a)(e)		150		150,000
Yioula Glassworks S.A.
9.00%, 12/01/15(a)(e)	EUR	253		349,799

				9,663,912

Communications—Media–1.6%
Antenna TV S.A.
7.25%, 2/15/15(a)(e)		10		12,490
C&M Finance, Ltd.
8.10%, 2/01/16(a)(e)	U.S.$	1,690		1,774,500
CCH I Holdings, LLC
11.00%, 10/01/15(a)		4,009		4,159,337
11.75%, 5/15/14(a)*		11,000		10,532,500
Clear Channel Communications, Inc.
5.75%, 1/15/13(a)		220		206,288
Intelsat Bermuda, Ltd.
11.25%, 6/15/16(a)(e)		3,300		3,745,500
Paxson Comm
11.61%, 1/15/13(a)(d)(e)		6,400		6,672,000
Rainbow National Services LLC
10.375%, 9/01/14(a)(e)		2,700		3,020,625
RH Donnelley Corp.
6.875%, 1/15/13(a)		9		8,753
Sirius Satellite Radio, Inc.
9.625%, 8/01/13(a)		1,650		1,656,188
XM Satellite Radio, Inc.
9.75%, 5/01/14(a)*		1,650		1,664,437

				33,452,618

Communications—Telecommunications–0.8%
Centennial Communications Corp.
10.00%, 1/01/13(a)		1,700		1,833,875
Digicel, Ltd.
9.25%, 9/01/12(a)(e)		465		490,575
Inmarsat Finance PLC
10.375%, 11/15/12(a)(f)		6,475		6,118,875
Kyivstar
7.75%, 4/27/12(a)(e)		100		104,107
10.375%, 8/17/09(a)(e)		200		215,400

9 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
Rural Cellular Corp.
9.75%, 1/15/10(a)*	U.S.$	4,800	$	4,944,000
Terrestar Networks, Inc.
15.00%, 2/15/14(a)(e)*		2,245		2,166,425

				15,873,257

Consumer Cyclical—Automotive–1.0%
Ford Motor Credit Co.
4.95%, 1/15/08(a)		152		150,180
6.625%, 6/16/08(a)		454		452,568
7.00%, 10/01/13(a)		2,350		2,184,529
General Motors Acceptance Corp.
6.75%, 12/01/14(a)*		10,000		9,830,920
6.875%, 9/15/11(a)		3,960		3,963,837
8.00%, 11/01/31(a)*		4,000		4,288,576

				20,870,610

Consumer Cyclical—Other–0.4%
Broder Brothers Co.
11.25%, 10/15/10(a)		1,100		1,122,000
French Lick Resorts & Casino
10.75%, 4/15/14(a)(e)		150		126,000
NCL Corp.
10.625%, 7/15/14(a)		4,120		4,078,800
Six Flags, Inc.
9.625%, 6/01/14(a)*		1,675		1,574,500
William Lyon Homes, Inc.
10.75%, 4/01/13(a)		2,000		1,930,000

				8,831,300

Consumer Cyclical—Retailer–0.1%
Burlington Coat Factory Warehouse Corp.
11.125%, 4/15/14(a)*		1,600		1,632,000

Consumer Non-Cyclical–0.3%
Chaoda Modern Agriculture
7.75%, 2/08/10(a)(e)		505		511,312
Dole Food Co.
8.875%, 3/15/11(a)*		1,150		1,135,625
Select Medical Corp.
7.625%, 2/01/15(a)		250		225,000
11.175%, 9/15/15FRN(a)*		5,000		4,800,000

				6,671,937

Other Industrial–0.1%
Central European Distribution Corp.
8.00%, 7/25/12(a)(e)	EUR	70		101,748

ALLIANCEBERNSTEIN INCOME FUND • 10


		Principal Amount (000)	U.S.$ Value
Heckler & Koch GmbH
9.25%, 7/15/11(a)(e)	EUR	5	$	6,829
RBS Global & Rexnord Corp.
11.75%, 8/01/16(a)*	U.S.$	2,150		2,316,625

				2,425,202

Services–0.1%
Noble Group, Ltd.
6.625%, 3/17/15(a)(e)		560		525,913
West Corp.
11.00%, 10/15/16(a)(e)		150		158,250

				684,163

Technology–0.0%
Freescale Semiconductor, Inc.
10.125%, 12/15/16(a)(e)*		300		300,750

Transportation—Services–0.3%
Hertz Corp.
10.50%, 1/01/16(a)*		5,000		5,700,000

				114,605,184

Utilities–0.0%
Electric–0.0%
Ipalco Enterprises, Inc.
8.375%, 11/14/08(a)		100		103,250
NRG Energy, Inc.
7.25%, 2/01/14(a)		5		5,125
7.375%, 2/01/16(a)		15		15,413

				123,788

				123,788

Total Corporates—Non-Investment Grade
(cost $115,878,795)				120,694,314


GOVERNMENT-RELATED—US AGENCIES–4.9%
AGENCY DEBENTURES–4.9%
Federal Home Loan Mortgage Corp.
4.75%, 11/03/09(a)(b)		22,900		22,849,437
5.25%, 7/18/11(a)(b)		3,100		3,148,158
Resolution Funding Corp.
Zero coupon, 10/15/20(a)		150,000		75,698,100

Total Government-Related—US Agencies
(cost $89,156,867)				101,695,695

11 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
BANK LOANS–4.8%
NON-INVESTMENT GRADE–4.8%
Financial Institutions–0.6%
Banking–0.1%
North Las Vegas
8.10%, 4/20/11	U.S.$	79	$	79,594
12.35%, 4/20/12		2,100		2,107,875

				2,187,469

Finance–0.3%
Alix Partners, LLP
7.61%-7.86%, 10/12/13		1,496		1,506,544
Blue Pearl USA, Ltd.
10.11%, 9/30/12		1,408		1,419,019
LPL Holdings, Inc.
7.85%, 6/28/13		1,485		1,498,646
NCO Financial Systems, Inc
8.35%-8.36%, 11/13/13		2,494		2,509,336

				6,933,545

Financial-Other–0.1%
Grosvenor Capital Management
7.57%-7.598%, 11/29/13		1,000		1,006,250

Insurance–0.0%
Swett & Crawford
6.75%, 11/10/12		500		510,000

Real Estate Investment Trust–0.1%
Crescent Resources, LLC
8.32%, 11/01/12		1,000		1,002,920

				11,640,184

Industrial–3.9%
Basic Industry–0.3%
Bluegrass Container Co.
5.00%, 12/30/13		1,000		1,015,168
Ferro Corp.
8.07%, 6/06/12		1,017		1,014,766
Flakeboard Co., Ltd.
9.093%, 7/28/12		1,941		1,948,596
NewPage Corp.
7.625%, 5/02/11		697		702,286
Xerium Technology, Inc.
7.864%-8.114%, 5/18/12		690		690,645

				5,371,461

ALLIANCEBERNSTEIN INCOME FUND • 12


		Principal Amount (000)	U.S.$ Value
Capital Goods–0.6%
Baldor Electric Co.
7.125%, 1/31/14	U.S.$	950	$	953,686
Builders FirstSource, Inc.
7.85%, 8/11/11		177		176,433
Clarke American Corp.
7.855%, 3/09/14		4,000		3,997,520
Covalence Specialty Materials
8.625%, 2/08/13(a)		750		755,625
DynCorp International, LLC
7.625%, 2/11/11		983		989,869
Kranson Industries, Inc.
8.114%, 7/31/13		1,496		1,499,991
Solo Cup Co.
11.57%, 3/31/12		3,250		3,319,062

				11,692,186

Communications—Media–0.9%
Cebridge Conn
7.355%, 10/01/13		1,000		1,001,000
Cebridge Conn Assets Ale Ln
5.00%, 10/30/07		2,000		2,000,000
Cebridge Conn Lien 2 Tranche A
4.50%, 4/30/14		1,250		1,276,562
Cebridge Conn PIK
6.00%, 5/04/15		2,148		2,226,290
Charter Communications Operations
7.09%-7.59%, 2/14/14		1,000		996,560
HIT Entertainment, Inc
6.11%, 3/20/12(a)		985		986,852
Live Nation Worldwide, Inc.
8.07%, 6/21/13		1,496		1,502,803
Oceania Cruises
8.10%, 12/04/12		1,995		1,995,000
TDS Investor Corp.
8.36%, 8/22/13		995		1,002,964
Venetian Macau
8.10%, 2/01/12–7/15/12		1,000		1,007,360
VTR Globalcom
8.321%, 9/20/13		2,500		2,503,125
Wide Open West Finance, LLC
10.36%, 4/28/14		1,000		1,020,830

				17,519,346

13 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
Communications - Telecommunication–0.1%
Level 3 Financing, Inc.
1.00%, 2/13/14	U.S.$	3,000	$	3,009,990

Consumer Cyclical—Automotive–0.2%
Delphi Corp.
8.125%, 12/31/07		2,000		2,010,000
Ford Motor Co.
8.36%, 11/29/13		998		1,001,101
Visteon Corp.
8.38%, 5/31/13		2,000		2,008,760

				5,019,861

Consumer Cyclical—Other–0.3%
O-2 Arena
7.84%, 1/31/12(a)		1,733		1,743,328
Metro Goldwyn Mayer, Inc.
8.60%, 4/08/12		2,475		2,470,743
Prestige Brands, Inc.
7.61%-9.50%, 4/07/11		847		856,852
Universal City Development Partners, Ltd.
7.36%, 6/09/11		925		929,508

				6,000,431

Consumer Cyclical—Restaurants–0.1%
Sbarro, Inc.
7.848%, 1/31/14(a)		1,000		1,008,330
Consumer Cyclical—Retailers–0.2%
Blockbuster, Inc.
8.87%-8.90%, 8/20/11		927		934,500
Mattress Holding Corp.
7.61%-7.64%, 2/21/14		500		501,250
PetCo Animal Supplies, Inc.
8.10%-8.11%, 10/02/08		998		1,004,044
Targus Group International
8.87%-8.11%, 11/22/12		992		997,370

				3,437,164

Consumer Non-Cyclical–0.5%
Amscan Holdings, Inc.
8.36%-10.25%, 12/21/12		496		505,555
Aramark Corp.
7.628%, 1/26/14	GBP	1,000		1,970,309
Beverly Enterprises, Inc.
2.75%, 7/24/11	U.S.$	1,145		1,148,935
Butler Animal Health Supply, LLC
7.891%, 6/01/11		2,270		2,278,513

ALLIANCEBERNSTEIN INCOME FUND • 14


		Principal Amount (000)	U.S.$ Value
FHC Health Systems, Inc.
12.11%, 6/30/08	U.S.$	1,000	$	1,010,000
Stiefel Labs, Inc.
7.57%-9.50%, 12/28/13		1,000		1,006,880
Talecris Biotherapeutics Holdings Corp.
8.86%-13.50%, 12/06/13–12/01/14(a)		3,250		3,283,437

				11,203,629

Energy–0.1%
ATP Oil & Gas Corp.
8.82%-8.917%, 4/30/10		498		500,610
Infrastrux Group, Inc.
8.57%, 11/03/12		498		500,147
McMoran Oil & Gas
12.375%, 1/30/12		1,000		1,005,000
Trinidad Drilling
7.82%, 4/13/11		991		993,310

				2,999,067

Services–0.1%
N.E.W. Holdings, LLC
12.34%-12.364%, 2/08/14		500		506,250
Reynolds & Reynolds Co.
1.00%, 10/23/13		500		511,250
Select Personnel Services
4.50%, 6/30/12		975		982,312
Vanguard Car Rental USA Holding, Inc.
8.32%, 5/15/13		705		710,915

				2,710,727

Technology–0.5%
Calgen Ommerc
9.07%, 4/01/09		500		514,165
Dealer Computer Services
7.35%-10.85%, 10/26/12		1,741		1,745,168
Eastman Kodak Co.
2.25%, 10/18/12		541		541,410
Infor Enterprise Solutions Holdings, Inc.
9.10%, 7/28/12		1,992		2,005,733
IPC Acquisition Corp.
11.864%, 8/24/14		2,500		2,512,500
Marvell Technology Group
7.35%, 11/06/09		1,989		1,998,694
Stratus Technologies, Inc.
14.35%, 3/28/12		1,500		1,440,000

15 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
Vertafore, Inc.
7.82%, 1/31/12	U.S.$	287	$	288,419

				11,046,089

				81,018,281

Utilities–0.3%
Electric–0.3%
Firstlight Power Resources, Inc.
9.85%, 4/15/13		2,000		2,022,500
Northeast Biofuels, LLC
8.61%-8.614%, 6/20/13–6/30/13		1,000		1,005,000
Riverside Energy Center
9.61%, 6/24/11		1,584		1,608,943
Rocky Mountain Energy Center, LLC
Zero coupon, 6/24/11		127		129,668
4.25%, 6/24/11		1,008		1,024,415

				5,790,526

Natural Gas–0.0%
SemCrude, L.P.
7.57%-9.00%, 3/16/11		795		797,320

Utility-Other–0.0%
GBGH, LLC
10.859%, 8/07/13		650		650,000

				7,237,846

Total Bank Loans
(cost $99,299,158)				99,896,311


CORPORATES—INVESTMENT GRADE–2.8%
CORPORATES–2.8%
Financial Institutions–0.4%
Banking–0.2%
Bank of Scotland Capital Funding
8.117%, 5/31/10(a)(e)	GBP	90		188,076
Barclays Bank
8.55%, 9/29/49(a)(e)	U.S.$	638		714,426
9.875%, 5/29/49(a)	GBP	157		321,496
Citigroup, Inc.
5.50%, 11/18/15(a)		85		164,786
5.875%, 7/01/24(a)		32		64,651
Lloyds TSB Capital
7.834%, 12/31/49(a)		191		413,088
10.625%, 10/21/08(a)		134		282,432

ALLIANCEBERNSTEIN INCOME FUND • 16


		Principal Amount (000)	U.S.$ Value
Mellon Capital III
6.369%, 9/05/66(a)(d)	GBP	500	$	983,236
Northern Rock PLC
7.053%, 9/21/49(a)(d)		86		188,122
Resona Bank, Ltd.
4.125%, 9/29/49(a)(e)	EUR	67		86,837
5.986%, 5/10/49(a)	GBP	50		97,664
Royal Bank of Scotland Group PLC
7.387%, 12/29/49(a)		117		239,862
Santander Central Hispano Issue, Ltd.
6.80%, 11/29/10(a)		83		168,003
7.25%, 12/07/49(a)(d)		70		144,241

				4,056,920

Brokerage–0.0%
Goldman Sachs Group, Inc.
5.50%, 10/12/21(a)		50		94,597
6.125%, 2/14/17(a)		45		89,999
Morgan Stanley
5.125%, 11/30/15(a)		100		186,018

				370,614

Finance–0.1%
General Electric Capital Corp.
5.375%, 12/18/40(a)		41		84,064
6.44%, 11/15/22(a)		310		625,532
STB Finance Cayman
5.834%, 9/29/49(a)(d)		100		194,070

				903,666

Insurance–0.1%
Aegon NV
6.125%, 12/15/31(a)		26		56,210
AMP Group Finance Services
7.125%, 8/06/19(a)(d)		50		99,607
AMP UK Finance Services
6.375%, 11/17/10(a)		110		215,704
Aviva PLC
5.902%, 7/27/27(a)(d)		88		165,627
Friends Provident PLC
6.292%, 6/29/49(a)(d)		50		95,775
Generali Finance BV
6.214%, 6/16/49(a)(d)		100		192,656
Legal & General Finance PLC
5.875%, 4/05/33(a)		26		55,112
Prudential PLC
6.125%, 12/19/31(a)		27		55,621

17 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
Resolution PLC
6.586%, 11/29/49(a)(d)	GBP	50	$	95,379
Royal & Sun Alliance Insurance
8.50%, 12/08/49(a)(d)		55		120,109
Zurich Finance PLC
6.625%, 10/02/49(a)		82		165,997

				1,317,797

Other Finance–0.0%
Red Arrow Intl Leasing
8.375%, 3/31/12(a)	RUB	14,691		585,747

				7,234,744

Industrial–1.9%
Basic Industry–0.1%
Southern Peru Copper Corp.
7.50%, 7/27/35(a)	U.S.$	370		398,815
Union Carbide Corp.
7.75%, 10/01/96(a)		1,785		1,902,374
Vale Overseas, Ltd.
6.875%, 11/21/36(a)		373		385,192

				2,686,381

Capital Goods–0.3%
Legrand S.A.
8.50%, 2/15/25(a)		10		11,750
Rexam PLC
7.125%, 3/27/09(a)	GBP	58		116,372
Siemens Financieringsmaatschappij N.V.
6.125%, 9/14/66(a)(d)		575		1,111,599
TYCO International Group S.A.
6.00%, 11/15/13(a)	U.S.$	140		147,167
6.50%, 11/21/31(a)	GBP	1,585		3,546,038

				4,932,926

Communications—Media–0.0%
British Sky Broadcasting PLC
7.75%, 7/09/09(a)		94		191,271
BSKYB Finance UK PLC
5.625%, 10/15/15(a)(e)	GBP	350		347,075
5.75%, 10/20/17(a)(e)	U.S.$	50		95,370

				633,716

Communications—Telecommunications–0.5%
AT&T Corp.
8.00%, 11/15/31(a)	U.S.$	1,000		1,235,787

ALLIANCEBERNSTEIN INCOME FUND • 18


		Principal Amount (000)	U.S.$ Value
Embarq Corp.
7.082%, 6/01/16(a)	U.S.$	1,202	$	1,225,493
MM02 PLC
7.625%, 1/25/12(a)	GBP	106		222,714
Mobifon Holdings BV
12.50%, 7/31/10(a)	U.S.$	4,905		5,309,662
TCNZ Finance, Ltd.
6.125%, 12/12/08(a)	GBP	60		118,101
Olivetti Finance NV
7.75%, 1/24/33(a)	EUR	20		32,242
Telekom Finanzmanagement
5.00%, 7/22/13(a)		1,112		1,512,204

				9,656,203

Consumer Cyclical—Automotive–0.0%
DaimlerChrysler NA Holding
5.75%, 8/10/11(a)	GBP	110		212,890

Consumer Cyclical—Other–0.1%
Starwood Hotels & Resorts Worldwide, Inc.
7.375%, 11/15/15(a)	U.S.$	1,213		1,264,195

Consumer Cyclical—Retailer–0.0%
Marks & Spencer PLC
5.625%, 3/24/14(a)	GBP	89		169,096

Consumer Non-Cyclical–0.3%
Altria Group, Inc.
7.75%, 1/15/27(a)*	U.S.$	3,500		4,183,232
Cadbury Schweppes Finance
5.125%, 10/01/13(a)(e)		720		696,638

				4,879,870

Energy–0.2%
Gaz Capital
5.03%, 2/25/14(a)(e)	EUR	60		79,470
Gazstream SA (Gazprom)
5.625%, 7/22/13(a)(e)	U.S.$	205		204,003
Petronas Capital, Ltd.
7.00%, 5/22/12(a)(e)		1,247		1,345,602
Tengizchevroil Fin Co.
6.124%, 11/15/14(a)(e)		2,172		2,161,140
TNK-BP Finance
7.50%, 7/18/16(a)(e)		766		808,223
Tyumen Oil Co.
11.00%, 11/06/07(a)(e)		90		92,556

				4,690,994

19 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
Services–0.0%
FirstGroup PLC
6.875%, 4/15/13(a)	GBP	20	$	40,780

Technology–0.0%
Electronic Data Systems Corp.
6.50%, 8/01/13(a)	U.S.$	600		612,989

Transportation—Airlines–0.4%
Qantas Airways, Ltd.
6.05%, 4/15/16(a)(e)		10,000		8,715,930

				38,495,970

Non Corporate Sectors–0.5%
Agencies—Not Government Guaranteed–0.5%
Gazprom OAO
9.625%, 3/01/13(a)(e)		8,330		9,851,058
GPB Eurobond Finance
6.50%, 9/23/15(a)		400		400,000

				10,251,058

				10,251,058

Utilities–0.0%
Electric–0.0%
MMG Fiduciary (AES EL Salvador)
6.75%, 2/01/16(a)(e)		350		349,956
South Wales Electricity
9.25%, 11/09/20(a)	GBP	19		48,885
Western Power Distribution LLC
5.875%, 3/25/27(a)		30		61,367
Yorkshire Power Finance
7.25%, 8/04/28(a)		86		201,017

				661,225

Natural Gas–0.0%
Centrica PLC
5.50%, 10/24/16(a)		100		191,595

				852,820

Total Corporates—Investment Grade
(cost $55,529,446)				56,834,592


MORTGAGE CMOS–2.0%
AGENCY FIXED RATE–2.0%
Federal Home Loan Mortgage Corp.
5.00%, 12/01/34–8/01/35(a)(b)	U.S.$	54,612		12,979,020
Federal National Mortgage Association
5.00%, 2/01/18–3/01/35(a)(b)		136,587		27,397,079

ALLIANCEBERNSTEIN INCOME FUND • 20


		Shares or Principal Amount (000)	U.S.$ Value
6.00%, 5/25/36(a)(b)	U.S.$	7,220	$	1,369,656

Total Mortgage CMOS
(cost $42,402,009)				41,745,755


GOVERNMENT-RELATED—NON-US ISSUERS–1.6%
SOVEREIGNS–1.6%
Bulgaria–0.0%
Republic of Bulgaria
8.25%, 1/15/15(a)(e)		346		409,145

Malaysia–0.1%
Government of Malaysia
7.50%, 7/15/11(a)		1,784		1,939,526

Mexico–0.7%
United Mexican States
5.625%, 1/15/17(a)		1,400		1,405,600
6.375%, 1/16/13(a)		2,626		2,763,865
6.75%, 9/27/34(a)		460		501,630
7.50%, 1/14/12(a)		775		847,850
8.00%, 9/24/22(a)		2,370		2,921,025
8.125%, 12/30/19(a)		976		1,198,040
9.875%, 2/01/10(a)		2,180		2,447,050
11.375%, 9/15/16(a)		1,201		1,726,437

				13,811,497

Russia–0.8%
Russian Federation
5.00%, 3/31/30(a)(e)		6,172		6,999,048
11.00%, 7/24/18(a)(e)		1,190		1,718,360
Russian Ministry of Finance
3.00%, 5/14/08–5/14/11(a)		7,090		6,841,017

				15,558,425

South Africa–0.0%
Republic of South Africa
7.375%, 4/25/12(a)		304		330,220

Total Government-Related—Non-US Issuers
(cost $31,050,983)				32,048,813


WARRANT(g)–0.1%
SOVEREIGNS–0.1%
Central Bank of Nigeria Warrants, expiring 11/15/20		4,500		1,147,500
Republic of Venezuela Warrants, expiring 4/15/20		1,785		0

21 • ALLIANCEBERNSTEIN INCOME FUND


		Principal Amount (000)	U.S.$ Value
Total WARRANT
(cost $0)				1,147,500


ASSET-BACKED SECURITIES–0.0%
OTHER—FIXED RATE–0.0%
Government National Mortgage Association 0.47%, 11/16/45(a)
(cost $927,776)	U.S.$	16,408	$	876,861


COMMERCIAL MORTGAGE BACKED SECURITIES–0.0%
NON-AGENCY ADJUSTABLE RATE CMBS–0.0%
Opera Financial
Series CSC3 Class B
5.883%, 4/25/17(a)(d)
(cost $196,496)	GBP	100		196,151


SHORT-TERM INVESTMENTS–11.2%
Investment Companies–1.8%
AllianceBernstein Fixed Income Shares, Inc. - Government STIF Portfolio (h)	U.S.$	37,006,276		37,006,276

Repurchase Agreement–4.1%
Deutsche Bank Repo 4.90%, dated 3/29/07, due 4/03/07 in the amount of $83,991,122 (collateralized by $69,230,000 U.S. Treasury Bond, 6.25%, due 5/15/30, value $83,934,000) 4.90%		83,934		83,934,000


U.S. TREASURIES–5.3%
United States Treasury Bills
Zero coupon, 4/12/07–5/10/07(i)(j)		111,000		110,561,588


Total Short-Term Investments
(cost $231,501,864)				231,501,864


Total Investments Before Security Lending Collateral – 157.7%
(cost $3,214,144,207)				3,244,690,263


INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED–1.7%
Short-Term Investment–1.7%
UBS Private Money Market Fund, LLC
(cost $34,390,632)		34,390,632		34,390,632

ALLIANCEBERNSTEIN INCOME FUND • 22


Total Investments – 159.4%
(cost $3,248,534,839)		3,279,080,895
Other assets less liabilities – (59.4)%		(1,222,060,827	)

Net Assets – 100%	$	2,057,020,068

FINANCIAL FUTURES CONTRACTS


Type	Number of Contracts	Expiration Month	Original Value		Value at March 31, 2007		Unrealized Appreciation/ (Depreciation)
Sold
U.S. T-Bond
10 Yr Futures	164	June 2007	$	18,502,755	$	18,245,000	$	257,755

U.S. T-Note
10 Yr Futures	2,576	June 2007		278,277,190		278,530,000		(252,810	)

							$	4,945

FORWARD CURRENCY EXCHANGE CONTRACTS


		Contract Amount (000)	U.S. $ Value on Origination Date	U.S. $ Current Value	Unrealized Appreciation/ (Depreciation)
Buy Contracts:

Australian Dollar,
settling	4/24/07	725	564,180	586,188	22,008
settling	4/24/07	51	40,000	41,241	1,241

Brazilian Real,
settling	4/24/07	130	61,292	62,889	1,597

British Pound,
settling	4/24/07	251	490,000	493,368	3,368
settling	4/24/07	518	1,000,000	1,019,973	19,973
settling	4/24/07	477	920,000	938,375	18,375
settling	4/24/07	518	1,000,000	1,019,973	19,973
settling	4/24/07	114	220,000	224,394	4,394
settling	4/24/07	285	550,000	560,985	10,985
settling	4/24/07	52	100,000	101,749	1,749
settling	4/24/07	392	760,000	772,333	12,333
settling	4/24/07	87	170,000	171,967	1,967

Euro,
settling	4/24/07	440	581,425	588,345	6,920

Japanese Yen,
settling	4/24/07	13,464	115,000	114,660	(340	)

Mexican Peso,
settling	4/24/07	1,346	120,000	121,762	1,762
settling	4/24/07	1,770	160,000	160,197	197

New Zealand Dollar,
settling	4/24/07	760	522,986	542,023	19,037

Peruvian Nouveau Sol,
settling	4/24/07	239	75000	75019	19

Polish Zloty,
settling	4/13/07	475	158,905	164,307	5,402
settling	4/13/07	3,041	1,045,819	1,051,193	5,374
settling	4/24/07	2,403	830,000	830,767	767

Swedish Krona,
settling	4/24/07	680	96,823	97,513	690

South African Rand,
settling	4/16/07	3,261	438,929	448,768	9,839

Sale Contracts:

Australian Dollar,
settling	4/24/07	965	760,000	779,845	(19,845	)
settling	5/22/07	1,428	1,124,478	1,153,469	(28,991	)

British Pound,
settling	4/24/07	20	40,000	40,275	(275	)
settling	4/24/07	52	100,000	101,997	(1,997	)
settling	4/24/07	306	590,000	601,784	(11,784	)
settling	4/24/07	275	530,000	540,586	(10,586	)
settling	4/24/07	59	115,000	116,866	(1,866	)
settling	4/24/07	39	75,000	76,217	(1,217	)
settling	4/24/07	483	950,000	951,181	(1,181	)
settling	5/17/07	21,869	42,277,942	43,028,396	(750,454	)

Canadian Dollar,
settling	4/13/07	4,231	3,570,633	3,666,626	(95,993	)
settling	4/24/07	118	100,000	101,872	(1,872	)

Euro,
settling	4/30/07	665	876,703	888,811	(12,108	)
settling	5/29/07	13,848	18,527,908	18,544,027	(16,120	)

Japanese Yen,
settling	4/24/07	64,900	560,885	552,700	8,185
settling	5/15/07	13,315	113,626	113,693	(68	)

Mexican Peso,
settling	4/24/07	3,766	340,000	340,809	(809	)
settling	4/24/07	5,389	490,000	487,602	2,398
settling	4/24/07	2,539	230,000	229,790	210
settling	4/24/07	63	5,735	5,717	18
settling	4/24/07	33,023	2,975,477	2,988,105	(12,629	)
settling	5/31/07	233,131	20,970,632	21,050,396	(79,764	)

New Zealand Dollar,
settling	4/19/07	2,390	1,657,741	1,705,310	(47,568	)

Norwegian Krone,
settling	4/24/07	6,220	1,013,549	1,024,033	(10,483	)

Polish Zloty,
settling	4/13/07	1,055	352,643	364,631	(11,988	)
settling	4/24/07	2,710	917,416	937,042	(19,627	)

Swedish Krona,
settling	5/23/07	1,116	160,347	160,343	4

Swiss Franc,
settling	4/24/07	270	222,449	222,657	(208	)

CREDIT DEFAULT SWAP CONTRACTS


Swap Counterparty & Referenced Obligation	Notional Amount (000)	Interest Rate		Termination Date	Unrealized Appreciation/ (Depreciation)
Buy Contracts:
Citigroup Global Markets, Inc.
Republic of Hungary
4.50%, 2/06/13	10,250	0.50	%	11/26/13	(146,442	)
Citigroup Global Markets, Inc.
Republic of Hungary
4.50%, 1/29/14	10,000	0.30		10/20/15	8,757
J P Morgan Chase
Republic of Hungary
4.75%, 2/03/15	1,280	0.30		10/20/15	2,102
Lehman Brothers
Qantas Airways Ltd.
5.125%,6/20/13	10,000	2.75		3/20/16	170,924
Lehman Brothers
Repubic of Venezuela
9.25%, 9/15/27	11,550	1.26		3/21/10	(45,610	)
Sale Contracts:
Citibank N.A.
Republic of Brazil
12.25%, 3/06/30	1,910	3.09		8/20/10	158,616
Citigroup Global Markets, Inc.
Gazprom OAO
5.875-10.50%, 4/25/07-4/28/34	10,000	1.04		10/20/10	183,250
Citigroup Global Markets, Inc.
Republic of Brazil
12.25%, 3/06/30	1,932	1.98		4/20/07	19,458
Citigroup Global Markets, Inc.
Republic of Philippines
10.625%, 3/16/25	3,360	4.95		3/20/09	287,552
Credit Suisse First Boston
Republic of Brazil
12.25%, 3/06/30	600	6.90		6/20/07	20,939
Deutsche Bank AG
Republic of Brazil
12.25%, 3/06/30	1,932	1.90		4/20/07	18,664
J P Morgan Chase
Gazprom OAO
5.875-10.50%, 4/25/07-4/28/34	1,380	1.04		10/20/10	25,289
Lehman Brothers
Repubic of Venezuela
9.25%, 9/15/27	21,090	0.69		3/21/08	19,930

REVERSE REPURCHASE AGREEMENTS


Broker	Interest Rate		Maturity	Amount
Barclays Capital Inc.	0.35	%	12/31/07	$	2,742,977
Barclays Capital Inc.	1.25		12/31/07		3,746,184
Deutsche Bank	5.02		4/3/07		83,651,868
Deutsche Bank	5.10		4/3/07		75,819,478
J.P Morgan Securities	5.16		4/3/07		239,425,299
J.P Morgan Securities	5.18		4/3/07		59,717,747
J.P Morgan Securities	5.18		4/3/07		82,228,776
Merrill Lynch Inc	4.90		4/3/07		16,314,136
Merrill Lynch Inc	4.97		4/3/07		62,199,831
Merrill Lynch Inc	5.05		4/3/07		6,101,106
Merrill Lynch Inc	5.15		4/3/07		15,789,309
Merrill Lynch Inc	5.15		4/3/07		12,743,656
Merrill Lynch Inc	5.15		4/3/07		10,164,368
Merrill Lynch Inc	5.21		4/3/07		102,275,057

				$	772,919,792

*	Represents entire or partial securities out on loan.

(a)

Positions, or portion thereof, with an aggregate market value of $2,862,608,909 have been segregated to collateralize open forward exchange currency contracts.

(b)

Positions, or portion thereof, with an aggregate market value of $1,304,661,018 have been pledged to collateralize the loan payable outstanding.

(c)

Positions, or portions thereof, with a market value of $680,886,373 have been segregated to collateralize reverse repurchase agreements.

(d)

Variable rate coupon, rate shown as of March 31, 2007.

(e)

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, 2007, the aggregate market value of these securities amounted to $174,848,402 or 8.5% of net assets.

(f)

Indicates a security that has a zero coupon that remains in effect until a predetermined date at which time the stated coupon rate becomes effective until final maturity.

(g)

Non-income producing security.

(h)

Investment in affiliated money market mutual fund.

(i)

Positions, or portions thereof, with a market value of $3,991,750 have been segregated to collateralize margin requirements for open futures contracts.

(j)

Represents entire or partial position segregated as collateral for swaps.

23 • ALLIANCEBERNSTEIN INCOME FUND

Currency Abbreviations:



ARS - Argentine Peso		JPY - Japanese Yen

AUD - Australian Dollar		MXN - Mexican Peso

BRL - Brazilian Real		PEN - Peruvian Nuevo Sol

COP - Colombian Peso		PLN - Polish Zloty

CRC - Costa Rican Colon		RUB - Russian Ruble

DOP - Dominican Peso		TRY - New Turkish Lira

EUR - Euro		U.S.$ - United States Dollar

GBP - British Pound		UYU - Uruguayan Peso

IDR - Indonesian Rupiah		ZAR - South African Rand

Glossary of Terms:

FRN – Floating Rate Note

PIK – Pay-In-Kind payments

TBA – To Be Announced

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/ Marc O. Mayer
		Marc O. Mayer
		President
Date:		March 23, 2007

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/ Marc O. Mayer
		Marc O. Mayer
		President
Date:		March 23, 2007

By:		/s/ Joseph J. Mantineo
		Joseph J. Mantineo
		Treasurer and Chief Financial Officer
Date:		March 23, 2007