N-Q 1 dnq.htm ALLIANCEBERNSTEIN BLENDED STYLE SERIES, INC AllianceBernstein Blended Style Series, 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: 811-21081

ALLIANCEBERNSTEIN BLENDED STYLE SERIES, 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: August 31, 2010

Date of reporting period: November 30, 2009

 

 

 


ITEM 1. SCHEDULE OF INVESTMENTS.


AllianceBernstein Blended Style Series-U.S. Large Cap Portfolio

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.4%

       

The AllianceBernstein Pooling Portfolios - Equity - 100.4%

       

U.S. Large Cap Growth Portfolio

   2,871,917      $ 28,805,329   

U.S. Value Portfolio

   3,765,147        28,765,723   
             

Total Investments - 100.4%
(cost $55,946,033) (a)

          57,571,052   

Other assets less liabilities - (0.4)%

          (209,335
             

Net Assets - 100.0%

        $ 57,361,717   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $2,948,059 and gross unrealized depreciation of investments was $(1,323,040), resulting in net unrealized appreciation of $1,625,019.


AllianceBernstein Blended Style Series – U.S. Large Cap Portfolio

November 30, 2009 (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. The disclosure requirements also establish 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. 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 developed 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 following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     57,571,052    $     —      $     —      $     57,571,052
                           


AllianceBernstein Retirement Strategies

2000 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.2%

       

The AllianceBernstein Pooling Portfolios - Fixed Income - 54.8%

       

High Yield Portfolio

   74,954      $ 690,327   

Inflation Protected Securities Portfolio

   382,997        4,006,151   

Intermediate Duration Bond Portfolio

   503,421        5,165,104   

Short Duration Bond Portfolio

   496,717        4,669,144   
             
          14,530,726   
             

The AllianceBernstein Pooling Portfolios - Equity - 45.4%

       

Global Real Estate Investment Portfolio

   326,098        2,667,478   

International Growth Portfolio

   156,823        1,401,998   

International Value Portfolio

   177,310        1,398,976   

Small-Mid Cap Growth Portfolio

   52,008        545,561   

Small-Mid Cap Value Portfolio

   62,716        540,608   

U.S. Large Cap Growth Portfolio

   273,833        2,746,545   

U.S. Value Portfolio

   359,391        2,745,748   
             
          12,046,914   
             

Total Investments - 100.2%
(cost $24,612,005) (a)

          26,577,640   

Other assets less liabilities - (0.2)%

          (49,107
             

Net Assets - 100.0%

        $ 26,528,533   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $2,012,007 and gross unrealized depreciation of investments was $(46,372), resulting in net unrealized appreciation of $1,965,635.

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.88% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2000 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     26,577,640    $     —      $     —      $     26,577,640
                           


AllianceBernstein Retirement Strategies

2005 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.1%

       

The AllianceBernstein Pooling Portfolios - Equity - 56.6%

       

Global Real Estate Investment Portfolio

   568,616      $ 4,651,276   

International Growth Portfolio

   362,110        3,237,267   

International Value Portfolio

   411,931        3,250,139   

Small-Mid Cap Growth Portfolio

   130,839        1,372,501   

Small-Mid Cap Value Portfolio

   159,071        1,371,188   

U.S. Large Cap Growth Portfolio

   615,138        6,169,836   

U.S. Value Portfolio

   806,459        6,161,347   
             
          26,213,554   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 43.5%

       

High Yield Portfolio

   263,714        2,428,806   

Inflation Protected Securities Portfolio

   648,224        6,780,423   

Intermediate Duration Bond Portfolio

   704,149        7,224,565   

Short Duration Bond Portfolio

   397,143        3,733,145   
             
          20,166,939   
             

Total Investments - 100.1%
(cost $46,075,861) (a)

          46,380,493   

Other assets less liabilities - (0.1)%

          (68,846
             

Net Assets - 100.0%

        $ 46,311,647   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $1,347,998 and gross unrealized depreciation of investments was $(1,043,366), resulting in net unrealized appreciation of $304,632.

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.47% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2005 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     46,380,493    $     —      $     —      $     46,380,493
                           


AllianceBernstein Retirement Strategies

2010 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.9%

       

The AllianceBernstein Pooling Portfolios - Equity - 66.0%

       

Global Real Estate Investment Portfolio

   2,214,580      $ 18,115,262   

International Growth Portfolio

   1,660,338        14,843,422   

International Value Portfolio

   1,886,972        14,888,206   

Small-Mid Cap Growth Portfolio

   650,239        6,821,011   

Small-Mid Cap Value Portfolio

   790,536        6,814,418   

U.S. Large Cap Growth Portfolio

   2,789,123        27,974,904   

U.S. Value Portfolio

   3,654,273        27,918,646   
             
          117,375,869   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 34.9%

       

High Yield Portfolio

   1,357,699        12,504,409   

Inflation Protected Securities Portfolio

   2,353,427        24,616,851   

Intermediate Duration Bond Portfolio

   2,423,097        24,860,975   
             
          61,982,235   
             

Total Investments - 100.9%
(cost $193,536,127) (a)

          179,358,104   

Other assets less liabilities - (0.9)%

          (1,608,510
             

Net Assets - 100.0%

        $ 177,749,594   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $2,319,947 and gross unrealized depreciation of investments was $(16.497,970), resulting in net unrealized depreciation of $(14,178,023).

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.13% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2010 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     179,358,104    $     —      $     —      $     179,358,104
                           


AllianceBernstein Retirement Strategies

2015 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.3%

       

The AllianceBernstein Pooling Portfolios - Equity - 72.2%

       

Global Real Estate Investment Portfolio

   3,828,204      $ 31,314,706   

International Growth Portfolio

   3,261,381        29,156,749   

International Value Portfolio

   3,651,468        28,810,083   

Small-Mid Cap Growth Portfolio

   1,420,073        14,896,566   

Small-Mid Cap Value Portfolio

   1,708,957        14,731,213   

U.S. Large Cap Growth Portfolio

   5,317,741        53,336,946   

U.S. Value Portfolio

   6,993,976        53,433,977   
             
          225,680,240   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 28.1%

       

High Yield Portfolio

   2,393,228        22,041,628   

Inflation Protected Securities Portfolio

   2,652,323        27,743,298   

Intermediate Duration Bond Portfolio

   3,687,224        37,830,914   
             
          87,615,840   
             

Total Investments - 100.3%
(cost $350,351,225) (a)

          313,296,080   

Other assets less liabilities - (0.3)%

          (808,257
             

Net Assets - 100.0%

        $ 312,487,823   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially indential for both book and tax purposes. Gross unrealized appreciation of investments was $4,232,747 and gross unrealized depreciation of investments was $(41,287,892, resulting in net unrealized depreciation of $(37,055,145).

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.11% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2015 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     313,296,080    $     —      $     —      $     313,296,080
                           


AllianceBernstein Retirement Strategies

2020 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.4%

       

The AllianceBernstein Pooling Portfolios - Equity - 79.7%

       

Global Real Estate Investment Portfolio

   4,566,016      $ 37,350,009   

International Growth Portfolio

   4,356,882        38,950,526   

International Value Portfolio

   4,912,629        38,760,646   

Small-Mid Cap Growth Portfolio

   1,943,377        20,386,026   

Small-Mid Cap Value Portfolio

   2,343,798        20,203,540   

U.S. Large Cap Growth Portfolio

   6,858,707        68,792,834   

U.S. Value Portfolio

   8,987,132        68,661,688   
             
          293,105,269   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 20.7%

       

High Yield Portfolio

   2,800,402        25,791,699   

Inflation Protected Securities Portfolio

   1,347,270        14,092,442   

Intermediate Duration Bond Portfolio

   3,541,134        36,332,036   
             
          76,216,177   
             

Total Investments - 100.4%
(cost $425,388,127) (a)

          369,321,446   

Other assets less liabilities - (0.4)%

          (1,288,997
             

Net Assets - 100.0%

        $ 368,032,449   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $2,678,293 and gross unrealized depreciation of investments was $(58,744,974), resulting in net unrealized depreciation $(56,066,681).

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.09% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2020 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     369,321,446    $     —      $     —      $     369,321,446
                           


AllianceBernstein Retirement Strategies

2025 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.3%

       

The AllianceBernstein Pooling Portfolios - Equity - 86.3%

       

Global Real Estate Investment Portfolio

   3,811,477      $ 31,177,881   

International Growth Portfolio

   4,033,621        36,060,569   

International Value Portfolio

   4,562,005        35,994,221   

Small-Mid Cap Growth Portfolio

   1,801,115        18,893,693   

Small-Mid Cap Value Portfolio

   2,169,802        18,703,696   

U.S. Large Cap Growth Portfolio

   6,449,521        64,688,693   

U.S. Value Portfolio

   8,467,842        64,694,311   
             
          270,213,064   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 14.0%

       

High Yield Portfolio

   2,375,669        21,879,915   

Intermediate Duration Bond Portfolio

   2,145,458        22,012,400   
             
          43,892,315   
             

Total Investments - 100.3%
(cost $365,404,574) (a)

          314,105,379   

Other assets less liabilities - (0.3)%

          (879,241
             

Net Assets - 100.0%

        $ 313,226,138   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both and tax purposes. Gross unrealized appreciation of investments was $1,771,528 and gross unrealized depreciation of investments was $(53,070,723), resulting in net unrealized depreciation of $(51,299,195).

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.07% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2025 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     314,105,379    $     —      $     —      $     314,105,379
                           


AllianceBernstein Retirement Strategies

2030 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.5%

       

The AllianceBernstein Pooling Portfolios - Equity - 90.5%

       

Global Real Estate Investment Portfolio

   2,274,736      $ 18,607,341   

International Growth Portfolio

   3,726,923        33,318,689   

International Value Portfolio

   4,228,525        33,363,064   

Small-Mid Cap Growth Portfolio

   1,728,610        18,133,123   

Small-Mid Cap Value Portfolio

   2,095,633        18,064,353   

U.S. Large Cap Growth Portfolio

   5,969,078        59,869,853   

U.S. Value Portfolio

   7,815,794        59,712,666   
             
          241,069,089   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 10.0%

       

High Yield Portfolio

   1,400,453        12,898,173   

Intermediate Duration Bond Portfolio

   1,332,815        13,674,679   
             
          26,572,852   
             

Total Investments - 100.5%
(cost $305,173,247) (a)

          267,641,941   

Other assets less liabilities - (0.5)%

          (1,259,083
             

Net Assets - 100.0%

        $ 266,382,858   
             

 

(a) As of November 30, 2009, the cost basis of investment securities ownded was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $1,269,319 and gross unrealized depreciation of investments was $(38,800,625), resulting in net unrealized depreciation of $(37,531,306).

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.05% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2030 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     267,641,941    $     —      $     —      $     267,641,941
                           


AllianceBernstein Retirement Strategies

2035 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.2%

       

The AllianceBernstein Pooling Portfolios - Equity - 95.0%

       

Global Real Estate Investment Portfolio

   1,136,138      $ 9,293,609   

International Growth Portfolio

   2,769,373        24,758,192   

International Value Portfolio

   3,150,303        24,855,892   

Small-Mid Cap Growth Portfolio

   1,315,794        13,802,682   

Small-Mid Cap Value Portfolio

   1,589,295        13,699,727   

U.S. Large Cap Growth Portfolio

   4,417,866        44,311,200   

U.S. Value Portfolio

   5,819,233        44,458,943   
             
          175,180,245   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 5.2%

       

Intermediate Duration Bond Portfolio

   925,805        9,498,764   
             

Total Investments - 100.2%
(cost $211,295,074) (a)

          184,679,009   

Other assets less liabilities - (0.2)%

          (283,759
             

Net Assets - 100.0%

        $ 184,395,250   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreication of investments was $453,880 and gross unrealized depreciation of investments was $(27,069,945), resulting in net unrealized depreciation of $(26,616,065).

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.05% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2035 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     184,679,009    $     —      $     —      $     184,679,009
                           


AllianceBernstein Retirement Strategies

2040 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.2%

       

The AllianceBernstein Pooling Portfolios - Equity - 95.2%

       

Global Real Estate Investment Portfolio

   970,711      $ 7,940,413   

International Growth Portfolio

   2,347,980        20,990,944   

International Value Portfolio

   2,671,046        21,074,553   

Small-Mid Cap Growth Portfolio

   1,111,506        11,659,700   

Small-Mid Cap Value Portfolio

   1,351,325        11,648,420   

U.S. Large Cap Growth Portfolio

   3,731,451        37,426,452   

U.S. Value Portfolio

   4,891,971        37,374,660   
             
          148,115,142   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 5.0%

       

Intermediate Duration Bond Portfolio

   756,882        7,765,614   
             

Total Investments - 100.2%
(cost $169,111,292) (a)

          155,880,756   

Other assets less liabilities - (0.2)%

          (376,801
             

Net Assets - 100.0%

        $ 155,503,955   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $423,736 and gross unrealized depreciation of investments was $(13,654,272), resulting in net unrealized depreciation of $(13,230,536).

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.05% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2040 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     155,880,756    $     —      $     —      $     155,880,756
                           


AllianceBernstein Retirement Strategies

2045 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.3%

       

The AllianceBernstein Pooling Portfolios - Equity - 95.2%

       

Global Real Estate Investment Portfolio

   615,955      $ 5,038,510   

International Growth Portfolio

   1,499,444        13,405,033   

International Value Portfolio

   1,705,700        13,457,975   

Small-Mid Cap Growth Portfolio

   713,972        7,489,570   

Small-Mid Cap Value Portfolio

   862,285        7,432,899   

U.S. Large Cap Growth Portfolio

   2,392,611        23,997,884   

U.S. Value Portfolio

   3,139,171        23,983,269   
             
          94,805,140   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 5.1%

       

Intermediate Duration Bond Portfolio

   498,205        5,111,580   
             

Total Investments - 100.3%
(cost $107,492,708) (a)

          99,916,720   

Other assets less liabilities - (0.3)%

          (315,141
             

Net Assets - 100.0%

        $ 99,601,579   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $269,768 and gross unrealized depreciation of investments was $(7,845,756), resulting in net unrealized depreciation of $(7,575,988).

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.05% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2045 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     99,916,720    $     —      $     —      $     99,916,720
                           


AllianceBernstein Retirement Strategies

2050 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.6%

       

The AllianceBernstein Pooling Portfolios - Equity - 95.5%

       

Global Real Estate Investment Portfolio

   75,620      $ 618,573   

International Growth Portfolio

   182,087        1,627,854   

International Value Portfolio

   206,906        1,632,487   

Small-Mid Cap Growth Portfolio

   87,638        919,326   

Small-Mid Cap Value Portfolio

   105,844        912,371   

U.S. Large Cap Growth Portfolio

   292,787        2,936,653   

U.S. Value Portfolio

   384,238        2,935,580   
             
          11,582,844   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 5.1%

       

Intermediate Duration Bond Portfolio

   60,469        620,408   
             

Total Investments - 100.6%
(cost $9,416,538) (a)

          12,203,252   

Other assets less liabilities - (0.6)%

          (72,911
             

Net Assets - 100.0%

        $ 12,130,341   
             

 

(a) As of November 30, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $2,786,714 and gross unrealized depreciation of investments was $0, resulting in net unrealized appreciation of $2,786,714.

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.05% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2050 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     12,203,252    $     —      $     —      $     12,203,252
                           


AllianceBernstein Retirement Strategies

2055 Retirement Strategy

Portfolio of Investments

November 30, 2009 (unaudited)

 

Company

   Shares      U.S. $ Value  

MUTUAL FUNDS - 100.5%

       

The AllianceBernstein Pooling Portfolios - Equity - 95.4%

       

Global Real Estate Investment Portfolio

   18,081      $ 147,901   

International Growth Portfolio

   43,845        391,977   

International Value Portfolio

   49,875        393,515   

Small-Mid Cap Growth Portfolio

   20,868        218,909   

Small-Mid Cap Value Portfolio

   25,206        217,272   

U.S. Large Cap Growth Portfolio

   69,722        699,307   

U.S. Value Portfolio

   91,407        698,347   
             
          2,767,228   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 5.1%

       

Intermediate Duration Bond Portfolio

   14,403        147,775   
             

Total Investments - 100.5%
(cost $2,357,957) (a)

          2,915,003   

Other assets less liabilities - (0.5)%

          (13,914
             

Net Assets - 100.0%

        $ 2,901,089   
             

 

(a) As of November 30, 2009, the cost of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $557,046 and gross unrealized depreciation of investments was $0, resulting in net unrealized appreciation of $557,046.

Through its investments in the Underlying Portfolios, the Strategy currently has exposure to investments collateralized by subprime mortgage loans. Subprime loans are offered to homeowners who do not have a history of debt or who have had problems meeting their debt obligations. Because repayment is less certain, subprime borrowers pay a higher rate of interest than prime borrowers. As of November 30, 2009, the Strategy’s total exposure to subprime investments was 0.05% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein Retirement Strategies

2055 Retirement Strategy

November 30, 2009 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Strategy would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure requirements also establish 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. 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 Strategy. Unobservable inputs reflect the Strategy’s own assumptions about the assumptions that market participants would use in pricing the asset or liability developed 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 Strategy’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Strategy’s investments by the above fair value hierarchy levels as of November 30, 2009:

 

Investments in Securities

   Level 1    Level 2    Level 3    Total

Mutual Funds

   $     2,915,003    $     —      $     —      $     2,915,003
                           


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 significant changes in the registrant’s internal control over financial reporting that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

 

ITEM 3. EXHIBITS.

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

 

EXHIBIT NO.

 

DESCRIPTION OF EXHIBIT

11 (a) (1)   Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
11 (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 Blended Style Series, Inc.

 

By:   /s/    Robert M. Keith
  Robert M. Keith
  President
Date:   January 22, 2010

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:   January 22, 2010
By:   /s/    Joseph J. Mantineo
  Joseph J. Mantineo
  Treasurer and Chief Financial Officer
Date:   January 22, 2010