N-Q 1 d249391dnq.htm ALLIANCEBERNSTEIN GROWTH FUND, INC. AllianceBernstein Growth Fund, Inc.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-05088

THE ALLIANCEBERNSTEIN PORTFOLIOS

(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: July 31, 2011

Date of reporting period: October 31, 2011

 

 

 


ITEM 1. SCHEDULE OF INVESTMENTS.


AllianceBernstein Growth Fund

Portfolio of Investments

October 31, 2011 (unaudited)

 

Company

   Shares        U.S. $ Value  

COMMON STOCKS - 98.3%

       

Information Technology - 31.7%

       

Communications Equipment - 5.1%

       

Cisco Systems, Inc.

     595,390         $ 11,032,576   

QUALCOMM, Inc.

     374,500           19,324,200   
       

 

 

 
          30,356,776   
       

 

 

 

Computers & Peripherals - 8.2%

       

Apple, Inc. (a)

     98,430           39,842,495   

EMC Corp./Massachusetts (a)

     354,780           8,695,658   
       

 

 

 
          48,538,153   
       

 

 

 

Internet Software & Services - 3.8%

       

Google, Inc.-Class A (a)

     37,950           22,490,688   
       

 

 

 

IT Services - 3.0%

       

Accenture PLC

     196,900           11,865,194   

Visa, Inc.-Class A

     63,080           5,882,841   
       

 

 

 
          17,748,035   
       

 

 

 

Semiconductors & Semiconductor Equipment - 3.2%

       

Broadcom Corp.-Class A (a)

     308,660           11,139,539   

Marvell Technology Group Ltd. (a)

     555,230           7,767,668   
       

 

 

 
          18,907,207   
       

 

 

 

Software - 8.4%

       

Citrix Systems, Inc. (a)

     102,880           7,492,751   

Intuit, Inc.

     142,630           7,654,952   

Oracle Corp.

     634,100           20,779,457   

Red Hat, Inc. (a)

     130,440           6,476,346   

TIBCO Software, Inc. (a)

     239,370           6,915,399   
       

 

 

 
          49,318,905   
       

 

 

 
          187,359,764   
       

 

 

 

Consumer Discretionary - 16.4%

       

Auto Components - 0.9%

       

Johnson Controls, Inc.

     156,370           5,149,264   
       

 

 

 

Automobiles - 1.0%

       

Harley-Davidson, Inc.

     154,500           6,010,050   
       

 

 

 

Hotels, Restaurants & Leisure - 4.6%

       

Las Vegas Sands Corp. (a)

     127,780           5,999,271   

McDonald’s Corp.

     129,770           12,049,144   

Starbucks Corp.

     152,870           6,472,516   

Starwood Hotels & Resorts Worldwide, Inc.

     54,450           2,728,490   
       

 

 

 
          27,249,421   
       

 

 

 

Internet & Catalog Retail - 1.7%

       

Amazon.com, Inc. (a)

     33,370           7,124,829   

priceline.com, Inc. (a)

     5,900           2,995,548   
       

 

 

 
          10,120,377   
       

 

 

 

Media - 1.1%

       

Walt Disney Co. (The)

     188,700           6,581,856   
       

 

 

 


Company

   Shares        U.S. $ Value  

Multiline Retail - 1.0%

       

Macy’s, Inc.

     188,830             5,764,980   
       

 

 

 

Specialty Retail - 3.4%

       

Bed Bath & Beyond, Inc. (a)

     76,920           4,756,733   

Home Depot, Inc.

     305,520           10,937,616   

Limited Brands, Inc.

     105,395           4,501,420   
       

 

 

 
          20,195,769   
       

 

 

 

Textiles, Apparel & Luxury Goods - 2.7%

       

NIKE, Inc.-Class B

     64,040           6,170,254   

PVH Corp.

     79,570           5,920,804   

VF Corp.

     28,410           3,926,830   
       

 

 

 
          16,017,888   
       

 

 

 
          97,089,605   
       

 

 

 

Energy - 13.0%

       

Energy Equipment & Services - 5.7%

       

Halliburton Co.

     177,680           6,638,125   

National Oilwell Varco, Inc.

     68,560           4,890,385   

Saipem SpA

     107,550           4,805,593   

Schlumberger Ltd.

     174,140           12,794,066   

Technip SA

     49,830           4,711,774   
       

 

 

 
          33,839,943   
       

 

 

 

Oil, Gas & Consumable Fuels - 7.3%

       

Anadarko Petroleum Corp.

     103,610           8,133,385   

Chevron Corp.

     138,040           14,501,102   

EOG Resources, Inc.

     81,930           7,327,000   

Noble Energy, Inc.

     88,240           7,883,362   

Occidental Petroleum Corp.

     54,980           5,109,841   
       

 

 

 
          42,954,690   
       

 

 

 
          76,794,633   
       

 

 

 

Health Care - 13.0%

       

Biotechnology - 2.2%

       

Amarin Corp. PLC (ADR) (a)

     207,100           1,946,740   

Gilead Sciences, Inc. (a)

     196,860           8,201,188   

Pharmasset, Inc. (a)

     42,330           2,980,032   
       

 

 

 
          13,127,960   
       

 

 

 

Health Care Equipment & Supplies - 3.5%

       

Baxter International, Inc.

     92,900           5,107,642   

Covidien PLC

     151,200           7,112,448   

Stryker Corp.

     143,250           6,863,108   

Volcano Corp. (a)

     69,400           1,730,142   
       

 

 

 
          20,813,340   
       

 

 

 

Health Care Providers & Services - 4.9%

       

Express Scripts, Inc.-Class A (a)

     109,200           4,993,716   

Healthspring, Inc. (a)

     96,800           5,221,392   

HMS Holdings Corp. (a)

     202,580           4,951,055   

McKesson Corp.

     103,270           8,421,668   

UnitedHealth Group, Inc.

     106,940           5,132,051   
       

 

 

 
          28,719,882   
       

 

 

 


Company

   Shares        U.S. $ Value  

Pharmaceuticals - 2.4%

       

Allergan, Inc./United States

     73,200           6,157,584   

Perrigo Co.

     44,390           4,007,529   

Watson Pharmaceuticals, Inc. (a)

     56,800           3,814,688   
       

 

 

 
          13,979,801   
       

 

 

 
          76,640,983   
       

 

 

 

Industrials - 9.9%

       

Aerospace & Defense - 3.4%

       

Boeing Co. (The)

     117,200           7,710,588   

United Technologies Corp.

     158,490           12,359,050   
       

 

 

 
          20,069,638   
       

 

 

 

Air Freight & Logistics - 2.2%

       

United Parcel Service, Inc.-Class B

     182,500           12,818,800   
       

 

 

 

Electrical Equipment - 1.7%

       

AMETEK, Inc.

     92,000           3,635,840   

Emerson Electric Co.

     138,770           6,677,613   
       

 

 

 
          10,313,453   
       

 

 

 

Industrial Conglomerates - 1.9%

       

Danaher Corp.

     237,340           11,475,389   
       

 

 

 

Machinery - 0.7%

       

Joy Global, Inc.

     46,000           4,011,200   
       

 

 

 
          58,688,480   
       

 

 

 

Consumer Staples - 8.0%

       

Beverages - 0.9%

       

Coca-Cola Enterprises, Inc.

     198,030           5,311,165   
       

 

 

 

Food Products - 3.1%

       

General Mills, Inc.

     146,090           5,628,847   

Kellogg Co.

     96,680           5,241,023   

Kraft Foods, Inc.-Class A

     199,750           7,027,205   
       

 

 

 
          17,897,075   
       

 

 

 

Tobacco - 4.0%

       

Altria Group, Inc.

     340,640           9,384,632   

Philip Morris International, Inc.

     205,600           14,365,272   
       

 

 

 
          23,749,904   
       

 

 

 
          46,958,144   
       

 

 

 

Financials - 4.1%

       

Commercial Banks - 0.8%

       

Wells Fargo & Co.

     186,460           4,831,179   
       

 

 

 

Diversified Financial Services - 2.0%

       

CME Group, Inc.-Class A

     11,460           3,157,917   

IntercontinentalExchange, Inc. (a)

     34,860           4,527,617   

JPMorgan Chase & Co.

     106,300           3,694,988   
       

 

 

 
          11,380,522   
       

 

 

 

Insurance - 1.3%

       

AON Corp.

     51,780           2,413,984   

MetLife, Inc.

     76,640           2,694,662   


Company

   Shares        U.S. $ Value  

Prudential Financial, Inc.

     48,100           2,607,020   
       

 

 

 
          7,715,666   
       

 

 

 
          23,927,367   
       

 

 

 

Materials - 2.2%

       

Chemicals - 2.2%

       

Monsanto Co.

     94,410           6,868,327   

Potash Corp. of Saskatchewan, Inc.

     127,500           6,034,575   
       

 

 

 
          12,902,902   
       

 

 

 

Total Common Stocks
(cost $594,833,627)

          580,361,878   
       

 

 

 

SHORT-TERM INVESTMENTS - 3.8%

       

Investment Companies - 3.8%

       

AllianceBernstein Fixed-Income Shares, Inc. - Government STIF Portfolio, 0.09% (b)
(cost $22,366,419)

     22,366,419           22,366,419   
       

 

 

 

Total Investments - 102.1%
(cost $617,200,046) (c)

          602,728,297   

Other assets less liabilities - (2.1)%

          (12,466,181
       

 

 

 

Net Assets - 100.0%

        $  590,262,116   
       

 

 

 

 

(a) Non-income producing security.
(b) Investment in affiliated money market mutual fund. The rate shown represents the 7-day yield as of period end.
(c) As of October 31, 2011, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $15,345,856 and gross unrealized depreciation of investments was $(29,817,605), resulting in net unrealized depreciation of $(14,471,749).

Please note: The sector classifications presented herein are based on the Global Industry Classification Standard (GICS) which was developed by Morgan Stanley Capital International and Standard & Poor’s. The components are divided into sector, industry group, and industry sub-indices as classified by the GICS for each of the market capitalization indices in the broad market.

Glossary:

 

ADR    -    American Depositary Receipt


AllianceBernstein Growth Fund

October 31, 2011 (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 October 31, 2011:

 

Investments in Securities:

   Level 1     Level 2     Level 3     Total  

Assets:

        

Common Stocks

        

Information Technology

   $ 187,359,764      $ – 0  –    $ – 0  –    $ 187,359,764   

Consumer Discretionary

     97,089,605        – 0  –      – 0  –      97,089,605   

Energy

     67,277,266        9,517,367        – 0  –      76,794,633   

Health Care

     76,640,983        – 0  –      – 0  –      76,640,983   

Industrials

     58,688,480        – 0  –      – 0  –      58,688,480   

Consumer Staples

     46,958,144        – 0  –      – 0  –      46,958,144   

Financials

     23,927,367        – 0  –      – 0  –      23,927,367   

Materials

     12,902,902        – 0  –      – 0  –      12,902,902   

Short-Term Investments

     22,366,419        – 0  –      – 0  –      22,366,419   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments in Securities

     593,210,930        9,517,367  +      – 0  –      602,728,297   

Other Financial Instruments*

     – 0  –      – 0  –      – 0  –      – 0  – 
  

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $     593,210,930      $     9,517,367      $             – 0  –    $     602,728,297   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

* Other financial instruments are derivative instruments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument.
+ A significant portion of the Portfolio’s foreign equity investments are categorized as Level 2 investments since they are valued using fair value prices based on third party vendor modeling tools to the extent available.


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): The AllianceBernstein Portfolios

 

By:   /s/    Robert M. Keith
  Robert M. Keith
  President
Date:   December 22, 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:   December 22, 2011
By:   /s/    Joseph J. Mantineo
  Joseph J. Mantineo
  Treasurer and Chief Financial Officer
Date:   December 22, 2011