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: 811-01716

ALLIANCEBERNSTEIN CAP FUND, INC.

(Exact name of registrant as specified in charter)

1345 Avenue of the Americas, New York, New York 10105

(Address of principal executive offices) (Zip code)

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: March 31, 2014

Date of reporting period: December 31, 2013

ITEM 1. SCHEDULE OF INVESTMENTS.

AllianceBernstein - Emerging Markets Multi-Asset Portfolio

Portfolio of Investments

December 31, 2013 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 52.0%
Financials - 13.1%
Commercial Banks - 6.8%
Banco do Brasil SA		37,900	$	392,754
Bangkok Bank PCL (NVDR)		17,400		94,779
Bank of China Ltd. - Class H		212,000		97,864
BS Financial Group, Inc. (a)		5,890		89,486
China Construction Bank Corp. - Class H		594,000		449,724
China Minsheng Banking Corp. Ltd.		85,500		95,183
DGB Financial Group, Inc. (a)		5,120		80,212
Industrial & Commercial Bank of China Ltd. - Class H		802,000		543,845
Komercni Banka AS		1,660		370,263
RHB Capital Bhd		21,000		50,702
State Bank of India		2,270		64,784
Union Bank of India		54,320		115,104
				2,444,700
Consumer Finance - 0.3%
Aeon Thana Sinsap Thailand PCL (NVDR)		13,400		38,419
Compartamos SAB de CV		27,310		51,016
				89,435
Diversified Financial Services - 1.1%
Cielo SA		5,300		146,801
Intergroup Financial Services, Inc. (b)		6,080		188,480
Remgro Ltd.		2,590		51,375
				386,656
Real Estate Investment Trusts (REITs) - 2.7%
CapitaCommercial Trust		180,000		207,296
Capital Property Fund		104,400		105,992
Fibra Uno Administracion SA de CV		63,360		204,350
Hyprop Investments Ltd.		13,700		99,736
Mapletree Logistics Trust		119,000		99,602
Mexico Real Estate Management SA de CV (a)		117,100		232,917
				949,893
Real Estate Management & Development - 2.2%
Country Garden Holdings Co., Ltd.		321,000		194,174
KWG Property Holding Ltd.		270,500		151,119
LPN Development PCL (NVDR)		175,300		82,897
Supalai PCL (NVDR)		176,200		78,657
Wing Tai Holdings Ltd.		188,000		293,668
				800,515
				4,671,199
Consumer Discretionary - 8.1%
Auto Components - 0.9%
Sumitomo Rubber Industries Ltd.		21,800		310,317
Automobiles - 1.6%
Hyundai Motor Co.		950		213,244
Kia Motors Corp.		3,840		204,486
Tofas Turk Otomobil Fabrikasi AS		25,620		159,936
				577,666

Company	Shares		U.S. $ Value
Hotels, Restaurants & Leisure - 1.1%
MGM China Holdings Ltd.		83,600	$	358,337
Yum! Brands, Inc.		680		51,415
				409,752
Household Durables - 0.1%
Ez Tec Empreendimentos e Participacoes SA		3,600		44,323
Internet & Catalog Retail - 0.5%
CJ O Shopping Co., Ltd. (a)		160		62,943
GS Home Shopping, Inc.		410		119,308
				182,251
Specialty Retail - 0.2%
Mr. Price Group Ltd.		3,640		56,892
Textiles, Apparel & Luxury Goods - 3.7%
Eclat Textile Co., Ltd.		28,700		324,069
Feng TAY Enterprise Co., Ltd.		17,000		40,828
Grendene SA		16,200		124,217
Makalot Industrial Co., Ltd.		9,000		48,698
NIKE, Inc. - Class B		2,770		217,833
Pacific Textiles Holdings Ltd.		145,000		221,025
Shenzhou International Group Holdings Ltd.		64,000		242,324
Yue Yuen Industrial Holdings Ltd.		29,000		96,968
				1,315,962
				2,897,163
Information Technology - 7.3%
Computers & Peripherals - 2.5%
Asustek Computer, Inc.		39,000		351,237
Casetek Holdings Ltd.		10,000		52,425
Catcher Technology Co., Ltd.		34,000		221,398
Lite-On Technology Corp.		95,000		152,671
Wistron Corp.		140,990		118,731
				896,462
Electronic Equipment, Instruments & Components - 0.3%
Ju Teng International Holdings Ltd.		118,000		78,066
Largan Precision Co., Ltd.		1,000		40,873
				118,939
Internet Software & Services - 0.6%
NetEase, Inc. (ADR)		1,340		105,324
Tencent Holdings Ltd.		1,400		89,530
				194,854
Semiconductors & Semiconductor Equipment - 3.9%
Advanced Semiconductor Engineering, Inc.		93,000		86,880
Advanced Semiconductor Engineering, Inc. (ADR) (c)		5,340		25,632
Hermes Microvision, Inc.		3,000		97,693
King Yuan Electronics Co., Ltd.		423,000		291,168

Company	Shares		U.S. $ Value
Samsung Electronics Co., Ltd.		330	$	430,006
Taiwan Semiconductor Manufacturing Co., Ltd.		117,000		413,122
Taiwan Semiconductor Manufacturing Co., Ltd. (Sponsored ADR)		2,280		39,763
				1,384,264
				2,594,519
Energy - 5.5%
Energy Equipment & Services - 1.8%
Seadrill Ltd.		16,180		663,129
Oil, Gas & Consumable Fuels - 3.7%
Cairn India Ltd.		9,240		48,322
China Petroleum & Chemical Corp. - Class H		85,400		70,073
ENI SpA		12,900		311,711
Gazprom OAO (Sponsored ADR)		10,790		93,334
KazMunaiGas Exploration Production JSC (GDR) (b)		7,820		122,774
LUKOIL OAO (Sponsored ADR)		8,920		563,030
Total SA		1,750		107,414
				1,316,658
				1,979,787
Consumer Staples - 5.5%
Food Products - 2.5%
AVI Ltd.		82,030		448,702
Gruma SAB de CV - Class B (a)		31,370		237,140
M Dias Branco SA		1,900		80,534
Unilever PLC		2,130		87,640
Universal Robina Corp.		17,250		44,065
				898,081
Household Products - 0.5%
Colgate-Palmolive Co.		2,790		181,936
Personal Products - 1.1%
Nu Skin Enterprises, Inc. - Class A		2,900		400,838
Tobacco - 1.4%
British American Tobacco PLC		6,520		349,955
Philip Morris International, Inc.		1,450		126,339
				476,294
				1,957,149
Telecommunication Services - 4.0%
Diversified Telecommunication Services - 0.7%
Telefonica Brasil SA (Preference Shares)		5,500		104,325
Telenor ASA		6,470		154,591
				258,916
Wireless Telecommunication Services - 3.3%
Advanced Info Service PCL		9,600		58,284
China Mobile Ltd.		41,500		431,471

Company	Shares		U.S. $ Value
SK Telecom Co., Ltd.		3,110	$	680,590
				1,170,345
				1,429,261
Industrials - 3.3%
Airlines - 0.6%
Copa Holdings SA		650		104,071
Turk Hava Yollari		42,180		126,460
				230,531
Construction & Engineering - 0.2%
Grana y Montero SA		13,260		56,422
Industrial Conglomerates - 0.9%
Alfa SAB de CV - Class A		39,470		111,247
Bidvest Group Ltd.		4,890		125,274
Jardine Strategic Holdings Ltd.		2,500		80,109
				316,630
Transportation Infrastructure - 1.6%
CCR SA		5,700		43,049
Jiangsu Expressway Co., Ltd. - Class H		418,000		515,337
				558,386
				1,161,969
Utilities - 2.9%
Electric Utilities - 1.3%
Cia Energetica de Minas Gerais (Preference Shares)		31,775		188,604
Light SA		30,300		285,016
				473,620
Gas Utilities - 0.5%
Aygaz AS		46,370		176,716
Independent Power Producers & Energy Traders - 1.1%
AES Tiete SA (Preference Shares)		23,400		189,343
China Resources Power Holdings Co., Ltd.		38,000		90,191
Tractebel Energia SA		6,100		92,971
				372,505
				1,022,841
Health Care - 1.7%
Health Care Equipment & Supplies - 0.2%
St Shine Optical Co., Ltd.		2,000		57,227
Health Care Providers & Services - 0.8%
Life Healthcare Group Holdings Ltd.		45,160		180,367
Shanghai Pharmaceuticals Holding Co., Ltd. - Class H		48,300		118,245
				298,612

Company	Shares		U.S. $ Value
Pharmaceuticals - 0.7%
Dr Reddy’s Laboratories Ltd.		740	$	30,291
Richter Gedeon Nyrt		11,800		239,879
				270,170
				626,009
Materials - 0.6%
Chemicals - 0.3%
United Phosphorus Ltd.		31,720		101,526
Metals & Mining - 0.3%
KGHM Polska Miedz SA		2,820		109,917
				211,443
Total Common Stocks (cost $17,419,057)				18,551,340
	Principal Amount (000)
EMERGING MARKETS - CORPORATE BONDS - 10.0%
Industrial - 10.0%
Basic - 0.5%
Gold Fields Orogen Holding BVI Ltd.
4.875%, 10/07/20 (b)	U.S.$	200		161,734
Capital Goods - 0.7%
Cemex SAB de CV
6.50%, 12/10/19 (b)		230		237,954
Communications - Telecommunications - 1.2%
Vimpel Communications Via VIP Finance Ireland Ltd. OJSC
7.748%, 2/02/21 (b)		400		434,500
Consumer Cyclical - Other - 1.0%
Longfor Properties Co., Ltd.
6.75%, 1/29/23 (b)		402		369,558
Consumer Cyclical - Retailers - 0.7%
Office Depot de Mexico SA de CV
6.875%, 9/20/20 (b)		248		251,720
Consumer Non-Cyclical - 3.7%
Arcelik AS
5.00%, 4/03/23 (b)		260		221,978
Marfrig Holding Europe BV
8.375%, 5/09/18 (b)		400		372,000
11.25%, 9/20/21 (b)		200		190,100
Tonon Bioenergia SA
9.25%, 1/24/20 (b)		275		230,892
Virgolino de Oliveira Finance
11.75%, 2/09/22 (b)		472		320,960
				1,335,930

	Principal Amount (000)		U.S. $ Value
Energy - 1.2%
Anton Oilfield Services Group
7.50%, 11/06/18 (b)	U.S.$	200	$	208,000
Pacific Rubiales Energy Corp.
5.125%, 3/28/23 (b)		236		211,615
				419,615
Other Industrial - 0.5%
Shimao Property Holdings Ltd.
6.625%, 1/14/20 (b)		200		194,250
Transportation - Services - 0.5%
Inversiones Alsacia SA
8.00%, 8/18/18 (b)		227		164,527
Total Emerging Markets - Corporate Bonds (cost $3,814,318)				3,569,788
GOVERNMENTS - SOVEREIGN BONDS - 8.1%
Colombia - 1.8%
Colombia Government International Bond
2.625%, 3/15/23		747		655,866
Croatia - 1.5%
Croatia Government International Bond
6.25%, 4/27/17 (b)		501		533,315
Hungary - 1.0%
Hungary Government International Bond
5.75%, 11/22/23		90		88,625
6.375%, 3/29/21		250		268,125
				356,750
Indonesia - 1.6%
Indonesia Government International Bond
3.375%, 4/15/23 (b)		444		378,510
4.875%, 5/05/21 (b)		200		198,000
				576,510
Mexico - 0.7%
Mexico Government International Bond
4.00%, 10/02/23		238		235,620
Peru - 0.3%
Peruvian Government International Bond
7.125%, 3/30/19		96		116,040
South Africa - 0.6%
South Africa Government International Bond
5.875%, 9/16/25		200		207,500
Turkey - 0.6%
Turkey Government International Bond
7.00%, 6/05/20		200		218,300
Total Governments - Sovereign Bonds (cost $2,880,765)				2,899,901

	Principal Amount (000)		U.S. $ Value
EMERGING MARKETS - SOVEREIGNS - 7.3%
Angola - 1.5%
Republic of Angola Via Northern Lights III BV
7.00%, 8/16/19 (b)	U.S.$	500	$	541,287
Argentina - 0.9%
Argentina Bonar Bonds
Series X
7.00%, 4/17/17		360		317,750
Ivory Coast - 1.6%
Ivory Coast Government International Bond
5.75%, 12/31/32 (b)		623		556,028
Nigeria - 0.6%
Citigroup, Inc.
Zero Coupon, 2/10/14 (b)	NGN	37,000		228,766
Rwanda - 1.1%
Rwanda International Government Bond
6.625%, 5/02/23 (b)	U.S.$	400		377,000
United Republic of Tanzania - 1.2%
Tanzania Government International Bond
6.392%, 3/09/20 (b)(d)		400		416,911
Venezuela - 0.4%
Venezuela Government International Bond
7.65%, 4/21/25		230		155,250
Total Emerging Markets - Sovereigns (cost $2,482,539)				2,592,992
QUASI-SOVEREIGNS - 4.7%
Quasi-Sovereign Bonds - 4.7%
Azerbaijan - 1.1%
State Oil Co. of the Azerbaijan Republic
Series E
4.75%, 3/13/23 (b)		400		376,568
Indonesia - 0.4%
Perusahaan Listrik Negara PT
5.25%, 10/24/42 (b)		200		150,000
Mexico - 0.9%
Petroleos Mexicanos
3.50%, 1/30/23		145		132,856
5.50%, 1/21/21		160		172,000
				304,856
Turkey - 1.2%
Export Credit Bank of Turkey
5.375%, 11/04/16 (b)		424		435,575

Company	Shares		U.S. $ Value
Venezuela - 1.1%
Petroleos de Venezuela SA
8.50%, 11/02/17 (b)		481	$	400,433
Total Quasi-Sovereigns (cost $1,751,532)				1,667,432
WARRANTS - 4.0%
Financials - 3.4%
Commercial Banks - 2.3%
Commercial Bank of Qatar QSC (The), Deutsche Bank, expiring 5/26/17 (a)		15,210		295,745
First Gulf Bank PJSC, Merrill Lynch, expiring 8/21/15 (a)		101,110		517,539
				813,284
Real Estate Management & Development - 1.1%
Aldar Properties PJSC, Deutsche Bank, expiring 5/15/17 (a)		151,930		114,168
Emaar Properties PJSC, Merrill Lynch, expiring 10/01/15 (a)		144,640		300,866
				415,034
				1,228,318
Industrials - 0.6%
Airlines - 0.6%
Air Arabia PJSC, Deutsche Bank, expiring 7/31/17 (a)		503,460		212,465
Total Warrants (cost $1,247,112)				1,440,783
	Principal Amount (000)
CORPORATES - INVESTMENT GRADES - 3.0%
Industrial - 1.5%
Basic - 0.2%
Vale Overseas Ltd.
6.875%, 11/21/36	U.S.$	72		74,358
Communications - Media - 0.6%
Myriad International Holdings BV
6.00%, 7/18/20 (b)		200		217,917
Communications - Telecommunications - 0.7%
Oi SA
5.75%, 2/10/22 (b)		285		260,543
				552,818
Non Corporate Sectors - 1.5%
Agencies - Not Government Guaranteed - 1.5%
Ecopetrol SA
4.25%, 9/18/18 (c)		180		189,900
Gazprom OAO Via Gaz Capital SA
8.625%, 4/28/34 (b)		290		342,200
				532,100
Total Corporates - Investment Grades (cost $1,068,237)				1,084,918

	Principal Amount (000)		U.S. $ Value
GOVERNMENTS - TREASURIES - 2.1%
Australia - 1.0%
Australia Government Bond
Series 132
5.50%, 1/21/18	AUD	352	$	341,384
Mexico - 1.1%
Mexican Bonos
Series M 10
8.50%, 12/13/18	MXN	4,560		394,838
Total Governments - Treasuries (cost $769,869)				736,222
EMERGING MARKETS - TREASURIES - 0.5%
Dominican Republic - 0.5%
Dominican Republic International Bond 16.00%, 7/10/20 (e) (cost $211,552)	DOP	7,100		194,128
LOCAL GOVERNMENTS - REGIONAL BONDS - 0.4%
Argentina - 0.4%
Provincia de Buenos Aires 10.875%, 1/26/21 (b) (cost $142,952)	U.S.$	152		132,620
	Contracts
OPTIONS PURCHASED - PUTS - 0.3%
Funds and Investment Trusts - 0.3%
iShares MSCI EAFE ETF
Expiration: Mar 2014, Exercise Price: $65.00 (a)(f)		109		10,410
iShares MSCI Emerging Markets ETF
Expiration: Mar 2014, Exercise Price: $41.00 (a)(f)		561		64,234
iShares MSCI Emerging Markets ETF
Expiration: Mar 2014, Exercise Price: $42.00 (a)(f)		257		40,349
Total Options Purchased - Puts (premiums paid $209,125)				114,993
	Shares
SHORT-TERM INVESTMENTS - 6.5%
Investment Companies - 6.4%
AllianceBernstein Fixed-Income Shares, Inc. - Government STIF Portfolio, 0.08% (g) (Cost $2,279,459)		2,279,459		2,279,459

	Principal Amount (000)		U.S. $ Value
Time Deposits - 0.1%
BBH Grand Cayman
0.005%, 1/02/14	HKD	111	$	14,375
0.005%, 1/02/14	SGD	1		979
0.005%, 1/06/14	JPY	219		2,087
0.051%, 1/02/14	GBP	3		4,770
0.082%, 1/02/14	EUR	0		625
0.207%, 1/02/14	CAD	1		757
0.35%, 1/02/14	NOK	94		15,533
1.386%, 1/02/14	AUD	0		2
3.50%, 1/02/14	ZAR	23		2,218
Total Time Deposits (cost $41,346)				41,346
Total Investments Before Security Lending Collateral for Securities Loaned -  98.9% (cost $34,317,863)				35,305,922
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED - 0.6%
Investment Companies - 0.6%
AllianceBernstein Exchange Reserves - Class I, 0.07% (g) (Cost $219,753)		219,753		219,753
Total Investments - 99.5% (cost $34,537,616) (h)				35,525,675
Other assets less liabilities - 0.5%				169,801
Net Assets - 100.0%			$	35,695,476

FUTURES

Type	Number of Contracts		Expiration Month		Original Value		Value at December 31, 2013		Unrealized Appreciation/ (Depreciation)
Purchased Contracts
Mini MSCI Emerging Markets Index Futures		7		March 2014	$	349,776	$	356,683	$	6,907

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC	JPY	20,869	USD	202		3/18/14	$	4,013
Barclays Bank PLC	NOK	1,875	USD	304		3/18/14		(4,071	)
Barclays Bank PLC	USD	2,702	KRW	2,852,680		3/18/14		(11,630	)
Barclays Bank PLC	USD	826	KRW	884,947		3/18/14		9,138
Barclays Bank PLC	USD	274	PHP	11,770		3/18/14		(6,820	)
BNP Paribas SA	AUD	390	USD	352		3/18/14		5,663
BNP Paribas SA	USD	345	PEN	976		3/18/14		528

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Goldman Sachs	TWD	7,829	USD	266		3/18/14	$	3,613
Royal Bank of Scotland	GBP	139	USD	228		3/18/14		(2,136	)
Royal Bank of Scotland	USD	364	MXN	4,713		3/18/14		(5,520	)
Royal Bank of Scotland	USD	354	RUB	11,781		3/18/14		68
Standard Chartered Bank	SGD	389	USD	311		3/18/14		3,119
Standard Chartered Bank	USD	4,097	CNY	25,018		3/18/14		(2,794	)
							$	(6,829	)

CREDIT DEFAULT SWAPS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Implied Credit Spread at December 31, 2013			Notional Amount (000)		Market Value		Upfront Premiums Paid (Received)		Unrealized Appreciation/ (Depreciation)
Buy Contracts
Citibank, NA:
Venezuela Government International Bond, 9.25% 9/15/27, 9/20/16*		(5.00	)%		11.86	%	$	400	$	60,617	$	56,231	$	4,386

* Termination date

(a) Non-income producing security.

(b) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2013, the aggregate market value of these securities amounted to $9,426,715 or 26.4% of net assets.

(c) Represents entire or partial securities out on loan.

(d) Floating Rate Security. Stated interest rate was in effect at December 31, 2013.

(e) Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security, which represents 0.54% of net assets as of December 31, 2013, is considered illiquid and restricted.

Restricted Securities	Acquisition Date		Cost		Market Value		Percentage of Net Assets
Dominican Republic International Bond
16.00%, 7/10/20		9/11/12	$	211,552	$	194,128		0.54	%

(f) One contract relates to 100 shares.

(g) Investment in affiliated money market mutual fund. The rate shown represents the 7-day yield as of period end.

(h) As of December 31, 2013, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $2,105,531 and gross unrealized depreciation of investments was $(1,117,472), resulting in net unrealized appreciation of $988,059.

Currency Abbreviation:

AUD	-	Australian Dollar
CAD	-	Canadian Dollar
CNY	-	Chinese Yuan Renminbi
DOP	-	Dominican Peso
EUR	-	Euro

GBP	-	Great British Pound
JPY	-	Japanese Yen
KRW	-	South Korean Won
MXN	-	Mexican Peso
NGN	-	Nigerian Naira
NOK	-	Norwegian Krone
PEN	-	Peruvian Nuevo Sol
PHP	-	Philippine Peso
RUB	-	Russian Ruble
SGD	-	Singapore Dollar
TWD	-	New Taiwan Dollar
USD	-	United States Dollar
ZAR	-	South African Rand
Glossary:
ADR	-	American Depositary Receipt
EAFE	-	Europe, Australia, and Far East
ETF	-	Exchange Traded Fund
GDR	-	Global Depositary Receipt
JSC	-	Joint Stock Company
MSCI	-	Morgan Stanley Capital International
NVDR	-	Non Voting Depositary Receipt
OJSC	-	Open Joint Stock Company
PJSC	-	Public Joint Stock Company

COUNTRY BREAKDOWN *

December 31, 2013 (unaudited)

12.1%	China
8.9%	Brazil
6.7%	Taiwan
6.4%	Mexico
5.3%	South Korea
4.7%	South Africa
4.1%	Russia
3.8%	Turkey
3.1%	United States
3.0%	Colombia
2.6%	United Arab Emirates
2.3%	Norway
2.0%	Indonesia
28.4%	Other
6.6%	Short-Term
100.0%	Total Investments

* All data are as of December 31, 2013. The Fund’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. “Other” country weightings represent 1.7% or less in the following countries: Angola, Argentina, Australia, Azerbaijan, Chile, Croatia, Czech Republic, Dominican Republic, France, Hong Kong, Hungary, India, Italy, Ivory Coast, Japan, Kazakhstan, Malaysia, Nigeria, Panama, Peru, Philippines, Poland, Qatar, Rwanda, Singapore, Thailand, United Republic of Tanzania and Venezuela.

AllianceBernstein Emerging Markets Multi Asset Fund

December 31, 2013 (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. U.S. GAAP establishes 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 (including those valued based on their market values). 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 fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rates, coupon rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, by pricing vendors, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

Options and warrants are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option or a warrant depends upon the contractual terms of, and specific risks inherent in, the option or warrant as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options will be classified as Level 2. For options or warrants that do not trade on exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options and warrants are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of December 31, 2013:

Investments in Securities

Level 1

Level 2

Level 3

Total

Common Stocks:

Financials

$

782,755

$

3,888,444

$

– 0

–

$

4,671,199

Consumer Discretionary

733,798

2,163,365

– 0

–

2,897,163

Information Technology

170,719

2,423,800

– 0

–

2,594,519

Energy

779,138

1,200,649

– 0

–

1,979,787

Consumer Staples

1,475,489

481,660

– 0

–

1,957,149

Telecommunication Services

– 0

–

1,429,261

– 0

–

1,429,261

Industrials

787,077

374,892

– 0

–

1,161,969

Utilities

189,343

833,498

– 0

–

1,022,841

Health Care

– 0

–

626,009

– 0

–

626,009

Materials

– 0

–

211,443

– 0

–

211,443

Emerging Markets - Corporate Bonds

– 0

–

3,569,788

– 0

–

3,569,788

Governments - Sovereign Bonds

– 0

–

2,899,901

– 0

–

2,899,901

Emerging Markets - Sovereigns

– 0

–

2,592,992

– 0

–

2,592,992

Quasi-Sovereigns

– 0

–

1,667,432

– 0

–

1,667,432

Warrants

– 0

–

1,440,783

– 0

–

1,440,783

Corporates - Investment Grades

– 0

–

1,084,918

– 0

–

1,084,918

Governments - Treasuries

– 0

–

736,222

– 0

–

736,222

Emerging Markets - Treasuries

– 0

–

– 0

–

194,128

194,128

Local Governments - Regional Bonds

– 0

–

132,620

– 0

–

132,620

Options Purchased - Puts

– 0

–

114,993

– 0

–

114,993

Short-Term Investments:

Investment Companies

2,279,459

– 0

–

– 0

–

2,279,459

Time Deposits

– 0

–

41,346

– 0

–

41,346

Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund

219,753

– 0

–

– 0

–

219,753

Total Investments in Securities

7,417,531

27,914,016

194,128

35,525,675

Other Financial Instruments*:

Assets

Credit Default Swaps

– 0

–

4,386

– 0

–

4,386

Futures

6,907

– 0

–

– 0

–

6,907

Forward Currency Exchange Contracts

– 0

–

26,142

– 0

–

26,142

Liabilities

Forward Currency Exchange Contracts

– 0

–

(32,971

)

– 0

–

(32,971

)

Total (a)

$

7,424,438

$

27,911,573

$

194,128

$

35,530,139

* Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation/depreciation on the instrument.

(a) An amount of $677,770 was transferred from Level 1 to Level 2 due to an increase in trading volume during the reporting period.

The Fund recognizes all transfers between levels of the fair value hierarchy assuming the financial instrument was transferred at the beginning of the reporting period.

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.

Emerging Markets - Sovereigns

Government - Sovereign Bonds

Warrants

Emerging Markets - Treasuries

Balance as of 3/31/13

$

– 0

–

$

226,311

$

954,416

$

210,732

Accrued discounts/(premiums)

(2,298

)

– 0

–

– 0

–

(2,076

)

Realized gain (loss)

(9,829

)

– 0

–

10,405

– 0

–

Change in unrealized appreciation/depreciation

(2,480

)

– 0

–

55,133

(14,528

)

Purchases

– 0

–

– 0

–

– 0

–

– 0

–

Sales

(211,704

)

– 0

–

(720,173

)

– 0

–

Reclassification

226,311

(226,311

)

– 0

–

– 0

–

Transfers into Level 3

– 0

–

– 0

–

– 0

–

– 0

–

Transfers out of Level 3

– 0

–

– 0

–

(299,781

)

– 0

–

Balance as of 12/31/13

$

– 0

–

$

– 0

–

$

– 0

–

$

194,128

Net change in unrealized appreciation/depreciation from investments held as of 12/31/13

$

– 0

–

$

– 0

–

$

– 0

–

$

(14,528

)

Totals

Balance as of 3/31/13

$

1,391,459

Accrued discounts/(premiums)

(4,374

)

Realized gain (loss)

576

Change in unrealized appreciation/depreciation

38,125

Purchases

– 0

–

Sales

(931,877

)

Reclassification

– 0

–

Transfers into Level 3

– 0

–

Transfers out of Level 3

(299,781

)

Balance as of 12/31/13

$

194,128

+

Net change in unrealized appreciation/depreciation from investments held as of 12/31/13

$

(14,528

)

+ There were de minimis transfers under 1% of net assets during the reporting period.

The Adviser has established a Valuation Committee (the “Committee”) which is responsible for overseeing the pricing and valuation of all securities held in the Fund. The Committee operates under pricing and valuation policies and procedures established by the Adviser and approved by the Board, including pricing policies which set forth the mechanisms and processes to be employed on a daily basis to implement these policies and procedures. In particular, the pricing policies describe how to determine market quotations for securities and other instruments. The Committee’s responsibilities include: 1) fair value and liquidity determinations (and oversight of any third parties to whom any responsibility for fair value and liquidity determinations is delegated), and 2) regular monitoring of the Adviser’s pricing and valuation policies and procedures and modification or enhancement of these policies and procedures (or recommendation of the modification of these policies and procedures) as the Committee believes appropriate.

The Committee is also responsible for monitoring the implementation of the pricing policies by the Adviser’s Pricing Group (the “Pricing Group”) and a third party which performs certain pricing functions in accordance with the pricing policies. The Pricing Group is responsible for the oversight of the third party on a day-to-day basis. The Committee and the Pricing Group perform a series of activities to provide reasonable assurance of the accuracy of prices including: 1) periodic vendor due diligence meetings, review of methodologies, new developments, and process at vendors, 2) daily comparisons of security valuation versus prior day for all securities that exceeded established thresholds, and 3) daily review of unpriced, stale, and variance reports with exceptions reviewed by senior management and the Committee.

In addition, several processes outside of the pricing process are used to monitor valuation issues including: 1) performance and performance attribution reports are monitored for anomalous impacts based upon benchmark performance, and 2) portfolio managers review all portfolios for performance and analytics (which are generated using the Adviser’s prices).

ITEM 2. CONTROLS AND PROCEDURES.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no changes in the registrant’s internal controls over financial reporting that occurred during the second fiscal quarter of the period that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 3. EXHIBITS.

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

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
3 (a) (1)	Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
3 (a) (2)	Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant): AllianceBernstein Cap Fund, Inc.

By:	/s/    Robert M. Keith
	Robert M. Keith
	President
Date:	February 24, 2014

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:	February 24, 2014

By:	/s/    Joseph J. Mantineo
	Joseph J. Mantineo
	Treasurer and Chief Financial Officer
Date:	February 24, 2014