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, 2011

Date of reporting period: November 30, 2010

 

 

 


ITEM 1. SCHEDULE OF INVESTMENTS.


AllianceBernstein Blended Style-U.S. Large Cap Portfolio

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS – 100.2%

       

The AllianceBernstein Pooling Portfolios - Equity – 100.2%

       

U.S. Large Cap Growth Portfolio

     2,109,302         $ 22,232,040   

U.S. Value Portfolio

     2,791,514           22,304,196   
             
          44,536,236   
             

Total Investments – 100.2%
(cost $41,028,288)
(a)

          44,536,236   

Other assets less liabilities – (0.2)%

          (77,300
             

Net Assets – 100.0%

        $ 44,458,936   
             

 

(a) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $3,507,948 and gross unrealized depreciation of investments was $(0), resulting in net unrealized appreciation of $3,507,948.


AllianceBernstein Blended Style-U.S. Large Cap Portfolio

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $   44,536,236       $ —         $ —         $   44,536,236   
                                   


AllianceBernstein Retirement Strategies

2000 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 99.0%

       

The AllianceBernstein Pooling Portfolios - Fixed Income - 72.7%

       

High-Yield Portfolio

     66,891         $ 666,905   

Inflation Protected Securities Portfolio

     428,965           4,705,742   

Intermediate Duration Bond Portfolio

     586,061           6,264,993   

Short Duration Bond Portfolio

     638,811           6,113,424   

Volatility Management Portfolio (a)

     507,589           5,218,017   
             
          22,969,081   
             

The AllianceBernstein Pooling Portfolios-Equity - 26.3%

       

Global Real Estate Investment Portfolio

     231,995           2,150,593   

International Growth Portfolio

     100,672           887,923   

International Value Portfolio

     116,569           881,264   

Small-Mid Cap Growth Portfolio

     25,417           383,799   

Small-Mid Cap Value Portfolio

     35,495           381,214   

U.S. Large Cap Growth Portfolio

     172,620           1,819,419   

U.S. Value Portfolio

     227,663           1,819,024   
             
          8,323,236   
             

Total Investments - 99.0%
(cost $27,777,504) (b)

          31,292,317   

Other assets less liabilities - 1.0%

          323,450   
             

Net Assets - 100.0%

          $31,615,767   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $3,514,813 and gross unrealized depreciation of investments was $(0), resulting in net unrealized appreciation of $3,514,813.

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, 2010, the Strategy’s total exposure to subprime investments was 0.63% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein 2000 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     31,292,317       $     —         $     —         $     31,292,317   
                                   


AllianceBernstein Retirement Strategies

2005 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.7%

       

The AllianceBernstein Pooling Portfolios - Fixed Income - 66.8%

       

High-Yield Portfolio

     181,620         $ 1,810,755   

Inflation Protected Securities Portfolio

     536,608           5,886,584   

Intermediate Duration Bond Portfolio

     607,254           6,491,550   

Short Duration Bond Portfolio

     425,735           4,074,287   

Volatility Management Portfolio (a)

     745,307           7,661,756   
             
          25,924,932   
             

The AllianceBernstein Pooling Portfolios - Equity - 33.9%

       

Global Real Estate Investment Portfolio

     290,665           2,694,465   

International Growth Portfolio

     175,645           1,549,189   

International Value Portfolio

     203,320           1,537,102   

Small-Mid Cap Growth Portfolio

     44,602           673,481   

Small-Mid Cap Value Portfolio

     62,257           668,643   

U.S. Large Cap Growth Portfolio

     285,026           3,004,175   

U.S. Value Portfolio

     376,277           3,006,449   
             
          13,133,504   
             

Total Investments - 100.7%
(cost $33,818,765) (b)

          39,058,436   

Other assets less liabilities - (0.7)%

          (279,058
             

Net Assets - 100.0%

        $ 38,779,378   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $5,239,671 and gross unrealized depreciation of investments was $(0), resulting in net unrealized appreciation of $5,239,671.

 

   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, 2010, the Strategy’s total exposure to subprime investments was 0.42% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein 2005 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     39,058,436       $     —         $     —         $     39,058,436   
                                   


AllianceBernstein Retirement Strategies

2010 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.9%

       

The AllianceBernstein Pooling Portfolios - Fixed Income - 57.1%

       

High-Yield Portfolio

     1,164,425         $ 11,609,319   

Inflation Protected Securities Portfolio

     2,255,156           24,739,057   

Intermediate Duration Bond Portfolio

     2,340,507           25,020,022   

Short Duration Bond Portfolio

     244,276           2,337,720   

Volatility Management Portfolio (a)

     3,357,871           34,518,917   
             
          98,225,035   
             

The AllianceBernstein Pooling Portfolios - Equity - 43.8%

       

Global Real Estate Investment Portfolio

     1,298,301           12,035,251   

International Growth Portfolio

     1,059,299           9,343,014   

International Value Portfolio

     1,225,068           9,261,514   

Small-Mid Cap Growth Portfolio

     289,653           4,373,755   

Small-Mid Cap Value Portfolio

     401,242           4,309,340   

U.S. Large Cap Growth Portfolio

     1,711,568           18,039,932   

U.S. Value Portfolio

     2,237,249           17,875,621   
             
          75,238,427   
             

Total Investments - 100.9%
(cost $156,405,315) (b)

          173,463,462   

Other assets less liabilities - (0.9)%

          (1,576,099
             

Net Assets - 100.0%

        $ 171,887,363   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $17,576,429 and gross unrealized depreciation of investments was $(518,282), resulting in net unrealized appreciation of $17,058,147.

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, 2010, the Strategy’s total exposure to subprime investments was 0.21% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein 2010 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     173,463,462       $     —         $     —         $     173,463,462   
                                   


AllianceBernstein Retirement Strategies

2015 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.3%

       

The AllianceBernstein Pooling Portfolios - Equity - 50.9%

       

Global Real Estate Investment Portfolio

     2,382,193         $ 22,082,925   

International Growth Portfolio

     2,343,750           20,671,874   

International Value Portfolio

     2,720,473           20,566,776   

Small-Mid Cap Growth Portfolio

     731,940           11,052,300   

Small-Mid Cap Value Portfolio

     1,022,863           10,985,550   

U.S. Large Cap Growth Portfolio

     3,669,947           38,681,244   

U.S. Value Portfolio

     4,852,803           38,773,891   
             
          162,814,560   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 49.4%

       

High-Yield Portfolio

     2,253,623           22,468,621   

Inflation Protected Securities Portfolio

     2,878,708           31,579,429   

Intermediate Duration Bond Portfolio

     3,725,032           39,820,588   

Volatility Management Portfolio (a)

     6,250,822           64,258,456   
             
          158,127,094   
             

Total Investments - 100.3%
(cost $293,589,353) (b)

          320,941,654   

Other assets less liabilities - (0.3)%

          (855,858
             

Net Assets - 100.0%

        $ 320,085,796   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $28,721,900 and gross unrealized depreciation of investments was $(1,369,599), resulting in net unrealized appreciation of $27,352,301.

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, 2010, the Strategy’s total exposure to subprime investments was 0.16% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein 2015 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     320,941,654       $     —         $     —         $     320,941,654   
                                   


AllianceBernstein Retirement Strategies

2020 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.4%

       

The AllianceBernstein Pooling Portfolios - Equity - 58.1%

       

Global Real Estate Investment Portfolio

     3,059,005         $ 28,356,976   

International Growth Portfolio

     3,477,505           30,671,596   

International Value Portfolio

     4,030,138           30,467,844   

Small-Mid Cap Growth Portfolio

     1,177,385           17,778,506   

Small-Mid Cap Value Portfolio

     1,640,631           17,620,373   

U.S. Large Cap Growth Portfolio

     5,414,988           57,073,976   

U.S. Value Portfolio

     7,097,689           56,710,537   
             
          238,679,808   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 42.3%

       

High-Yield Portfolio

     2,886,475           28,778,158   

Inflation Protected Securities Portfolio

     1,799,914           19,745,059   

Intermediate Duration Bond Portfolio

     3,997,233           42,730,424   

Volatility Management Portfolio (a)

     8,006,565           82,307,484   
             
          173,561,125   
             

Total Investments - 100.4%
(cost $386,364,546) (b)

          412,240,933   

Other assets less liabilities - (0.4)%

          (1,454,490
             

Net Assets - 100.0%

        $ 410,786,443   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $31,706,805 and gross unrealized depreciation of investments was $(5,830,418), resulting in net unrealized appreciation of $25,876,387.

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, 2010, the Strategy’s total exposure to subprime investments was 0.14% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein 2020 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     412,240,933       $     —         $     —         $     412,240,933   
                                   


AllianceBernstein Retirement Strategies

2025 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.4%

       

The AllianceBernstein Pooling Portfolios - Equity - 67.2%

       

Global Real Estate Investment Portfolio

     2,537,503         $ 23,522,653   

International Growth Portfolio

     3,387,495           29,877,706   

International Value Portfolio

     3,915,778           29,603,283   

Small - Mid Cap Growth Portfolio

     1,133,924           17,122,251   

Small - Mid Cap Value Portfolio

     1,576,684           16,933,589   

U.S. Large Cap Growth Portfolio

     5,198,360           54,790,714   

U.S. Value Portfolio

     6,819,961           54,491,487   
             
          226,341,683   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 33.2%

       

High - Yield Portfolio

     2,378,535           23,713,992   

Inflation Protected Securities Portfolio

     185,392           2,033,748   

Intermediate Duration Bond Portfolio

     2,378,909           25,430,540   

Volatility Management Portfolio (a)

     5,880,857           60,455,213   
             
          111,633,493   
             

Total Investments - 100.4%
(cost $320,251,817) (b)

          337,975,176   

Other assets less liabilities - (0.4)%

          (1,452,025
             

Net Assets - 100.0%

        $ 336,523,151   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $25,026,962 and gross unrealized depreciation of investments was $(7,303,603), resulting in net unrealized appreciation of $17,723,359.

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, 2010, 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 2025 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     337,975,176       $     —         $     —         $     337,975,176   
                                   


AllianceBernstein Retirement Strategies

2030 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.4%

       

The AllianceBernstein Pooling Portfolios - Equity - 76.4%

       

Global Real Estate Investment Portfolio

     1,692,407         $ 15,688,612   

International Growth Portfolio

     3,562,802           31,423,914   

International Value Portfolio

     4,108,583           31,060,888   

Small-Mid Cap Growth Portfolio

     1,203,376           18,170,980   

Small-Mid Cap Value Portfolio

     1,674,021           17,978,989   

U.S. Large Cap Growth Portfolio

     5,390,887           56,819,946   

U.S. Value Portfolio

     7,049,183           56,322,975   
             
          227,466,304   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 24.0%

       

High-Yield Portfolio

     1,586,331           15,815,723   

Intermediate Duration Bond Portfolio

     1,491,434           15,943,423   

Volatility Management Portfolio (a)

     3,860,312           39,684,008   
             
          71,443,154   
             

Total Investments - 100.4%
(cost $283,041,823) (b)

          298,909,458   

Other assets less liabilities - (0.4)%

          (1,116,264
             

Net Assets - 100.0%

        $ 297,793,194   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $21,748,061 and gross unrealized depreciation of investments was $(5,880,426), resulting in net unrealized appreciation of $15,867,635.

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, 2010, the Strategy’s total exposure to subprime investments was 0.08% of net assets. These investments are valued in accordance with the Underlying Portfolio’s Valuation Policies.


AllianceBernstein 2030 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     298,909,458       $     —         $     —            $     298,909,458   
                                            


AllianceBernstein Retirement Strategies

2035 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.4%

       

The AllianceBernstein Pooling Portfolios - Equity - 84.1%

       

Global Real Estate Investment Portfolio

     1,068,427         $ 9,904,316   

International Growth Portfolio

     2,632,114           23,215,242   

International Value Portfolio

     3,040,620           22,987,091   

Small-Mid Cap Growth Portfolio

     916,808           13,843,799   

Small-Mid Cap Value Portfolio

     1,271,756           13,658,660   

U.S. Large Cap Growth Portfolio

     4,009,672           42,261,942   

U.S. Value Portfolio

     5,246,272           41,917,715   
             
          167,788,765   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 16.3%

       

High-Yield Portfolio

     150,658           1,502,056   

Intermediate Duration Bond Portfolio

     949,329           10,148,328   

Volatility Management Portfolio (a)

     2,024,021           20,806,940   
             
          32,457,324   
             

Total Investments - 100.4%
(cost $190,492,425) (b)

          200,246,089   

Other assets less liabilities - (0.4)%

          (749,628
             

Net Assets - 100.0%

        $ 199,496,461   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $12,673,430 and gross unrealized depreciation of investments was $(2,919,766), resulting in net unrealized appreciation of $9,753,664.

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, 2010, 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 2035 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     200,246,089       $     —         $     —         $     200,246,089   
                                   


AllianceBernstein Retirement Strategies

2040 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.3%

       

The AllianceBernstein Pooling Portfolios - Equity - 89.5%

       

Global Real Estate Investment Portfolio

     943,106         $ 8,742,589   

International Growth Portfolio

     2,492,276           21,981,876   

International Value Portfolio

     2,888,397           21,836,279   

Small-Mid Cap Growth Portfolio

     854,199           12,898,412   

Small-Mid Cap Value Portfolio

     1,182,889           12,704,231   

U.S. Large Cap Growth Portfolio

     3,826,813           40,334,613   

U.S. Value Portfolio

     5,002,459           39,969,645   
             
          158,467,645   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 10.8%

       

Intermediate Duration Bond Portfolio

     834,422           8,919,970   

Volatility Management Portfolio (a)

     995,687           10,235,662   
             
          19,155,632   
             

Total Investments - 100.3%
(cost $166,719,485) (b)

          177,623,277   

Other assets less liabilities - (0.3)%

          (519,271
             

Net Assets - 100.0%

        $ 177,104,006   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $12,684,097 and gross unrealized depreciation of investments was $(1,780,305), resulting in net unrealized appreciation of $10,903,792.

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, 2010, 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 2040 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     177,623,277       $     —         $     —         $     177,623,277   
                                   


AllianceBernstein Retirement Strategies

2045 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.4%

       

The AllianceBernstein Pooling Portfolios - Equity - 94.6%

       

Global Real Estate Investment Portfolio

     622,005         $ 5,765,987   

International Growth Portfolio

     1,731,831           15,274,748   

International Value Portfolio

     2,007,094           15,173,633   

Small-Mid Cap Growth Portfolio

     596,744           9,010,830   

Small-Mid Cap Value Portfolio

     825,611           8,867,063   

U.S. Large Cap Growth Portfolio

     2,652,327           27,955,529   

U.S. Value Portfolio

     3,473,795           27,755,617   
             
          109,803,407   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 5.8%

       

Intermediate Duration Bond Portfolio

     552,668           5,908,026   

Volatility Management Portfolio (a)

     84,870           872,458   
             
          6,780,484   
             

Total Investments - 100.4%
(cost $109,289,432) (b)

          116,583,891   

Other assets less liabilities - (0.4)%

          (440,531
             

Net Assets - 100.0%

        $ 116,143,360   
             

 

(a) Non-income producing security.
(b) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $8,205,291 and gross unrealized depreciation of investments was $(910,832), resulting in net unrealized appreciation of $7,294,459.

 

  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, 2010, 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 2045 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     116,583,891       $     —         $     —         $     116,583,891   
                                   


AllianceBernstein Retirement Strategies

2050 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.1%

       

The AllianceBernstein Pooling Portfolios - Equity - 95.0%

       

Global Real Estate Investment Portfolio

     103,564         $ 960,039   

International Growth Portfolio

     290,448           2,561,751   

International Value Portfolio

     335,544           2,536,717   

Small-Mid Cap Growth Portfolio

     99,094           1,496,329   

Small-Mid Cap Value Portfolio

     137,886           1,480,892   

U.S. Large Cap Growth Portfolio

     442,172           4,660,491   

U.S. Value Portfolio

     581,862           4,649,075   
             
          18,345,294   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 5.1%

       

Intermediate Duration Bond Portfolio

     91,130           974,176   
             

Total Investments - 100.1%
(cost $15,775,156) (a)

          19,319,470   

Other assets less liabilities - (0.1)%

          (13,755
             

Net Assets - 100.0%

        $ 19,305,715   
             

 

(a) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $3,544,314 and gross unrealized depreciation of investments was $(0), resulting in net unrealized appreciation of $3,544,314.

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, 2010, 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 2050 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     19,319,470       $     —         $     —         $     19,319,470   
                                   


AllianceBernstein Retirement Strategies

2055 Retirement Strategy

Portfolio of Investments

November 30, 2010 (unaudited)

 

Company

   Shares        U.S. $ Value  

MUTUAL FUNDS - 100.3%

       

The AllianceBernstein Pooling Portfolios - Equity - 95.2%

       

Global Real Estate Investment Portfolio

     22,968         $ 212,912   

International Growth Portfolio

     64,411           568,101   

International Value Portfolio

     74,642           564,297   

Small-Mid Cap Growth Portfolio

     21,392           323,019   

Small-Mid Cap Value Portfolio

     29,823           320,295   

U.S. Large Cap Growth Portfolio

     96,868           1,020,991   

U.S. Value Portfolio

     128,048           1,023,108   
             
          4,032,723   
             

The AllianceBernstein Pooling Portfolios - Fixed Income - 5.1%

       

Intermediate Duration Bond Portfolio

     20,298           216,982   
             

Total Investments - 100.3%
(cost $3,727,114) (a)

          4,249,705   

Other assets less liabilities - (0.3)%

          (12,986
             

Net Assets - 100.0%

        $ 4,236,719   
             

 

(a) As of November 30, 2010, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $522,591 and gross unrealized depreciation of investments was $(0), resulting in net unrealized appreciation of $522,591.

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, 2010, 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 2055 Retirement Strategy

November 30, 2010 (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 U.S. GAAP disclosure requirements 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 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, 2010:

 

Investments in Securities

   Level 1      Level 2      Level 3      Total  

Mutual Funds

   $     4,249,705       $     —         $     —         $     4,249,705   
                                   


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 21, 2011

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 21, 2011
By:  

 /s/    Joseph J. Mantineo

 

 Joseph J. Mantineo

 Treasurer and Chief Financial Officer

Date:   January 21, 2011