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: 811-05398

ALLIANCEBERNSTEIN VARIABLE PRODUCTS

SERIES 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: December 31, 2012

Date of reporting period: September 30, 2012

ITEM 1. SCHEDULE OF INVESTMENTS.

AllianceBernstein Variable Products Series Fund

Balanced Wealth Strategy Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 64.2%
Financials - 18.0%
Capital Markets - 1.2%
Affiliated Managers Group, Inc. (a)		9,190	$	1,130,370
Blackstone Group LP		41,647		594,719
Credit Suisse Group AG (a)		22,780		481,666
Deutsche Bank AG (REG)		11,270		446,398
Macquarie Group Ltd.		22,587		662,310
Morgan Stanley		59,000		987,660
State Street Corp.		20,500		860,180
UBS AG (a)		103,762		1,263,485
				6,426,788
Commercial Banks - 2.9%
Banco Bilbao Vizcaya Argentaria SA		64,841		510,160
Banco do Brasil SA		36,400		445,293
Banco Santander Brasil SA/Brazil (ADR) (b)		14,400		106,128
Banco Santander SA (a)		71,746		535,541
BB&T Corp.		34,300		1,137,388
BNP Paribas SA		9,032		428,217
CIT Group, Inc. (a)		43,800		1,725,282
HSBC Holdings PLC		220,500		2,048,390
Intesa Sanpaolo SpA		233,640		356,264
Itau Unibanco Holding SA (ADR)		13,650		208,572
KB Financial Group, Inc.		12,715		450,688
KeyCorp		15,100		131,974
Lloyds Banking Group PLC (a)		565,260		355,919
Mitsubishi UFJ Financial Group, Inc. (b)		144,800		677,599
National Australia Bank Ltd.		26,400		694,104
PNC Financial Services Group, Inc.		7,100		448,010
Regions Financial Corp.		20,700		149,247
Societe Generale SA (a)		18,699		529,891
Sumitomo Mitsui Financial Group, Inc. (b)		17,100		532,805
Turkiye Vakiflar Bankasi Tao-Class D		96,100		207,755
US Bancorp		16,100		552,230
Wells Fargo & Co.		104,900		3,622,197
Westpac Banking Corp.		11,607		297,613
				16,151,267
Consumer Finance - 0.2%
Discover Financial Services		28,700		1,140,251
Shriram Transport Finance Co., Ltd.		21,625		253,589
				1,393,840
Diversified Financial Services - 1.9%
Bank of America Corp.		134,900		1,191,167
Citigroup, Inc.		94,000		3,075,680
IG Group Holdings PLC		102,632		740,294
ING Groep NV(a)		79,480		629,497
IntercontinentalExchange, Inc. (a)		16,923		2,257,698
JPMorgan Chase & Co.		55,900		2,262,832
Leucadia National Corp.		14,400		327,600
ORIX Corp.		3,580		358,571
				10,843,339

Company	Shares		U.S. $ Value
Insurance - 1.7%
Admiral Group PLC		61,550	$	1,048,990
Aegon NV		66,749		347,014
AIA Group Ltd.		430,000		1,585,065
Allianz SE		3,790		452,008
Aviva PLC		87,760		453,486
Berkshire Hathaway, Inc. (a)		7,600		670,320
Chubb Corp. (The)		6,400		488,192
Fidelity National Financial, Inc.-Class A		30,600		654,534
Lancashire Holdings Ltd.		8,720		116,171
Prudential PLC		88,310		1,146,729
Reinsurance Group of America, Inc.-Class A		10,900		630,783
Suncorp Group Ltd.		35,860		342,049
Torchmark Corp.		11,400		585,390
Travelers Cos., Inc. (The)		6,300		430,038
Validus Holdings Ltd.		9,300		315,363
				9,266,132
Real Estate Investment Trusts (REITs) - 7.3%
Allied Properties Real Estate Investment Trust		9,976		324,415
American Realty Capital Trust, Inc.		59,510		698,052
Artis Real Estate Investment Trust		4,688		78,109
Ascott Residence Trust		251,000		256,336
Associated Estates Realty Corp.		30,610		464,048
AvalonBay Communities, Inc.		3,930		534,441
BioMed Realty Trust, Inc.		7,480		140,026
Boardwalk Real Estate Investment Trust		3,280		216,832
Boston Properties, Inc.		6,414		709,453
Brandywine Realty Trust		17,450		212,716
British Land Co. PLC		90,091		760,923
Canadian Real Estate Investment Trust		6,698		286,288
CBL & Associates Properties, Inc. (b)		9,200		196,328
Chartwell Seniors Housing Real Estate Investment Trust		26,140		270,946
Cofinimmo		2,110		234,351
Cominar Real Estate Investment Trust		19,643		481,934
Commonwealth Property Office Fund		188,430		201,869
Corio NV		11,277		479,465
Corporate Office Properties Trust		15,991		383,304
CubeSmart		12,480		160,618
Digital Realty Trust, Inc. (b)		3,220		224,917
Douglas Emmett, Inc.		17,866		412,169
Duke Realty Corp.		14,220		209,034
Dundee International Real Estate Investment Trust		13,723		153,548
Dundee Real Estate Investment Trust		12,646		484,435
Entertainment Properties Trust		8,850		393,205
Equity Residential		10,600		609,818
Eurocommercial Properties NV		11,100		420,538
Extra Space Storage, Inc.		22,200		738,150
Far East Hospitality Trust (a)(b)		220,000		185,544
FelCor Lodging Trust, Inc. (a)(b)		114,525		542,848
General Growth Properties, Inc.		55,130		1,073,932
Glimcher Realty Trust		34,819		368,037
Goodman Group		137,686		562,755
GPT Group		32,670		114,847
HCP, Inc.		22,600		1,005,248
Health Care REIT, Inc.		17,360		1,002,540
Healthcare Realty Trust, Inc.		9,460		218,053
Host Hotels & Resorts, Inc.		11,200		179,760

Company	Shares		U.S. $ Value
Inland Real Estate Corp. (b)		23,533	$	194,147
Japan Excellent, Inc.		46		253,669
Japan Real Estate Investment Corp. (b)		32		322,029
Japan Retail Fund Investment Corp. (b)		232		414,244
Kenedix Realty Investment Corp.-Class A		13		46,747
Kilroy Realty Corp.		4,186		187,449
Kimco Realty Corp.		24,760		501,885
Klepierre		14,833		519,699
Land Securities Group PLC		27,978		344,807
LaSalle Hotel Properties		5,320		141,991
Lexington Realty Trust (b)		30,310		292,795
Liberty Property Trust (b)		7,220		261,653
Link REIT (The)		73,268		346,550
LTC Properties, Inc.		9,530		303,531
Mack-Cali Realty Corp.		15,730		418,418
Mapletree Commercial Trust		246,000		234,342
Mapletree Logistics Trust		396,000		362,124
Medical Properties Trust, Inc.		34,620		361,779
Mercialys SA		16,810		346,703
Mirvac Group		397,183		587,404
Morguard Real Estate Investment Trust		1,384		25,171
Nippon Building Fund, Inc.		31		334,151
Northern Property Real Estate Investment Trust		4,468		142,616
Omega Healthcare Investors, Inc.		19,220		436,871
Orix JREIT, Inc.		77		376,101
Parkway Properties, Inc./MD		11,541		154,303
Pebblebrook Hotel Trust		20,060		469,203
Piedmont Office Realty Trust, Inc.		7,920		137,333
ProLogis, Inc.		11,903		416,962
Public Storage		3,720		517,712
Regency Centers Corp.		14,040		684,169
RioCan Real Estate Investment Trust (Toronto)		7,083		199,356
RLJ Lodging Trust		35,580		672,818
Segro PLC		83,460		306,570
Senior Housing Properties Trust		10,780		234,788
Simon Property Group, Inc.		18,216		2,765,371
SL Green Realty Corp.		5,533		443,027
Sovran Self Storage, Inc.		7,222		417,793
Spirit Realty Capital, Inc. (a)		33,688		522,164
Stockland		296,139		1,021,596
Strategic Hotels & Resorts, Inc. (a)		81,390		489,154
Suntec Real Estate Investment Trust		205,000		247,407
Tanger Factory Outlet Centers		14,240		460,379
Unibail-Rodamco SE		7,159		1,426,541
Ventas, Inc.		17,630		1,097,467
Vornado Realty Trust		4,270		346,083
Weingarten Realty Investors		22,360		628,540
Westfield Group		147,870		1,553,877
Westfield Retail Trust		233,370		696,823
Weyerhaeuser Co.		23,760		621,086
				40,277,230
Real Estate Management & Development - 2.7%
Aeon Mall Co., Ltd.		16,900		412,664
CapitaLand Ltd.		78,000		200,914
Castellum AB		22,274		301,708
China Overseas Land & Investment Ltd.		108,000		273,011
China Vanke Co., Ltd.-Class B		220,350		276,159

Company	Shares		U.S. $ Value
Citycon OYJ (b)		58,590	$	175,896
Daito Trust Construction Co., Ltd. (b)		4,700		471,806
Evergrande Real Estate Group Ltd. (b)		1,405,000		552,159
Global Logistic Properties Ltd.		264,000		538,140
Great Eagle Holdings Ltd.		103,000		312,070
GSW Immobilien AG		10,534		391,139
Hang Lung Group Ltd.		8,000		50,571
Hang Lung Properties Ltd.		509,000		1,733,083
Henderson Land Development Co., Ltd.		31,000		221,209
Hongkong Land Holdings Ltd.		57,000		341,595
Hufvudstaden AB-Class A		32,931		408,782
Kerry Properties Ltd.		33,000		166,624
KWG Property Holding Ltd.		613,500		336,477
LPN Development PCL (NVDR)		310,900		189,867
Mitsubishi Estate Co., Ltd.		63,000		1,204,567
Mitsui Fudosan Co., Ltd.		67,100		1,340,834
New World Development Co., Ltd.		567,958		873,766
Soho China Ltd.		163,000		99,697
Sumitomo Realty & Development Co., Ltd.		28,000		741,956
Sun Hung Kai Properties Ltd.		95,708		1,392,594
Supalai PCL		280,700		182,391
Swire Properties Ltd.		130,600		403,137
Tokyu Land Corp. (b)		14,000		74,816
UOL Group Ltd.		101,516		472,551
Wharf Holdings Ltd.		126,000		866,411
Wheelock & Co., Ltd.		22,000		94,516
				15,101,110
Thrifts & Mortgage Finance - 0.1%
Housing Development Finance Corp.		36,320		529,577
				99,989,283
Information Technology - 9.5%
Communications Equipment - 1.0%
Cisco Systems, Inc.		115,700		2,208,713
F5 Networks, Inc. (a)		16,540		1,731,738
Harris Corp.		6,600		338,052
QUALCOMM, Inc.		20,105		1,256,361
				5,534,864
Computers & Peripherals - 2.4%
Apple, Inc.		14,350		9,575,181
Dell, Inc.		22,400		220,864
EMC Corp./MA (a)		33,599		916,245
Fujitsu Ltd.		105,000		394,193
Hewlett-Packard Co.		122,700		2,093,262
Wistron Corp.		127,882		153,124
				13,352,869
Electronic Equipment, Instruments & Components - 0.1%
Hon Hai Precision Industry Co., Ltd.		29,000		90,801
LG Display Co., Ltd. (a)		15,010		379,839
				470,640
Internet Software & Services - 1.7%
Baidu, Inc. (Sponsored ADR) (a)(b)		4,310		503,494

Company	Shares		U.S. $ Value
eBay, Inc. (a)		37,693	$	1,824,718
Google, Inc.-Class A (a)		6,010		4,534,545
LinkedIn Corp. (a)		5,580		671,832
Rackspace Hosting, Inc. (a)		12,100		799,689
Telecity Group PLC		68,817		996,538
				9,330,816
IT Services - 1.0%
Cognizant Technology Solutions Corp.-Class A (a)		44,230		3,092,562
Tata Consultancy Services Ltd.		19,500		477,639
Visa, Inc.-Class A		15,130		2,031,656
				5,601,857
Office Electronics - 0.1%
Konica Minolta Holdings, Inc.		46,500		357,710
Semiconductors & Semiconductor Equipment - 1.2%
Advanced Semiconductor Engineering, Inc.		332,486		254,415
Applied Materials, Inc.		112,700		1,258,295
Broadcom Corp.-Class A (a)		21,482		742,848
GCL-Poly Energy Holdings Ltd. (b)		639,000		97,087
Intel Corp.		76,200		1,728,216
Micron Technology, Inc. (a)		143,100		856,453
Samsung Electronics Co., Ltd. (Preference Shares)		820		579,602
SK Hynix, Inc. (a)		11,680		237,372
Sumco Corp. (a)		15,900		107,038
Tokyo Electron Ltd.		6,500		276,900
Xilinx, Inc.		18,180		607,394
				6,745,620
Software - 2.0%
ANSYS, Inc. (a)		23,435		1,720,129
Aveva Group PLC		6,940		220,817
CA, Inc.		6,100		157,167
Citrix Systems, Inc. (a)		32,190		2,464,788
Intuit, Inc.		24,540		1,444,915
Microsoft Corp.		14,800		440,744
Nintendo Co., Ltd.		1,400		177,832
Oracle Corp.		59,440		1,871,766
Red Hat, Inc. (a)		23,460		1,335,812
TIBCO Software, Inc. (a)		53,576		1,619,602
				11,453,572
				52,847,948
Consumer Discretionary - 9.5%
Auto Components - 0.7%
Cie Generale des Etablissements Michelin-Class B		6,970		545,763
GKN PLC		94,750		329,447
Lear Corp.		21,200		801,148
Magna International, Inc. (New York)-Class A		12,200		527,772
Magna International, Inc. (Toronto)-Class A		7,540		326,035
NGK Spark Plug Co., Ltd.		13,000		136,769

Company	Shares		U.S. $ Value
TRW Automotive Holdings Corp. (a)		13,900	$	607,569
Valeo SA		7,140		330,057
				3,604,560
Automobiles - 1.1%
Bayerische Motoren Werke AG		6,430		471,510
Ford Motor Co.		81,100		799,646
General Motors Co. (a)		53,160		1,209,390
Harley-Davidson, Inc.		16,321		691,521
Honda Motor Co., Ltd.		16,100		497,576
Kia Motors Corp.		3,100		192,613
Mazda Motor Corp. (a)		267,000		311,635
Nissan Motor Co., Ltd.		75,200		640,004
Renault SA		6,800		318,621
Volkswagen AG (Preference Shares)		3,920		716,754
				5,849,270
Distributors - 0.3%
Imperial Holdings Ltd.		6,780		152,536
Jardine Cycle & Carriage Ltd.		2,000		78,067
Li & Fung Ltd.		754,000		1,162,708
				1,393,311
Diversified Consumer Services - 0.2%
Anhanguera Educacional Participacoes SA		15,800		262,651
Apollo Group, Inc.-Class A (a)		23,400		679,770
Estacio Participacoes SA		13,400		224,738
				1,167,159
Hotels, Restaurants & Leisure - 1.2%
Chipotle Mexican Grill, Inc.-Class A (a)		4,400		1,397,176
Intercontinental Hotels Group PLC		16,930		444,576
Las Vegas Sands Corp.		19,190		889,840
MGM Resorts International (a)		112,000		1,204,000
Sands China Ltd.		308,000		1,138,361
Shangri-La Asia Ltd.		77,333		150,159
Sodexo		8,700		655,042
Starbucks Corp.		20,190		1,024,643
				6,903,797
Household Durables - 0.3%
Berkeley Group Holdings PLC (a)		12,320		280,017
Brookfield Incorporacoes SA		78,500		152,954
MRV Engenharia e Participacoes SA		32,600		195,061
PulteGroup, Inc. (a)		62,700		971,850
Rossi Residencial SA		56,000		138,947
Sony Corp. (b)		14,800		173,059
				1,911,888
Internet & Catalog Retail - 0.3%
priceline.com, Inc. (a)		2,230		1,379,768
Leisure Equipment & Products - 0.0%
Namco Bandai Holdings, Inc.		11,900		201,599

Company	Shares		U.S. $ Value
Media - 2.8%
CBS Corp.-Class B		26,900	$	977,277
Comcast Corp.-Class A		94,760		3,389,565
DIRECTV (a)		16,100		844,606
Discovery Communications, Inc.-Class A (a)		14,651		873,639
Focus Media Holding Ltd. (ADR) (b)		19,330		452,322
Gannett Co., Inc.		38,800		688,700
Informa PLC		30,090		196,026
McGraw-Hill Cos., Inc. (The)		21,200		1,157,308
News Corp.-Class A		37,400		917,422
Time Warner Cable, Inc.-Class A		12,200		1,159,732
Viacom, Inc.-Class B		21,500		1,152,185
Walt Disney Co. (The)		68,002		3,555,145
				15,363,927
Multiline Retail - 0.6%
Dollar General Corp. (a)		30,343		1,563,878
Don Quijote Co., Ltd. (b)		12,800		492,994
Golden Eagle Retail Group Ltd. (b)		115,000		224,438
Macy’s, Inc.		28,900		1,087,218
				3,368,528
Specialty Retail - 1.1%
Belle International Holdings Ltd.-Class A		203,000		365,805
GameStop Corp.-Class A (b)		13,400		281,400
Home Depot, Inc. (The)		10,300		621,811
L’Occitane International SA		15,000		39,549
Lowe’s Cos., Inc.		21,100		638,064
Nitori Holdings Co., Ltd.		10,300		955,985
O’Reilly Automotive, Inc. (a)		9,060		757,597
Shimamura Co., Ltd.		1,000		116,418
Staples, Inc. (b)		11,700		134,784
TJX Cos., Inc.		24,000		1,074,960
Yamada Denki Co., Ltd. (b)		30,150		1,322,593
				6,308,966
Textiles, Apparel & Luxury Goods - 0.9%
Burberry Group PLC		7,070		114,478
Cie Financiere Richemont SA		18,030		1,082,579
Coach, Inc.		30,590		1,713,652
LVMH Moet Hennessy Louis Vuitton SA		2,776		416,728
Samsonite International SA		300		572
Trinity Ltd.		224,000		149,208
VF Corp.		10,590		1,687,622
Yue Yuen Industrial Holdings Ltd.		9,000		30,182
				5,195,021
				52,647,794
Health Care - 6.6%
Biotechnology - 1.0%
Actelion Ltd. (a)		1,336		66,968
Biogen Idec, Inc. (a)		11,538		1,721,816
Celgene Corp. (a)		17,830		1,362,212
Gilead Sciences, Inc. (a)		30,445		2,019,417

Company	Shares		U.S. $ Value
Vertex Pharmaceuticals, Inc. (a)		4,700	$	262,965
				5,433,378
Health Care Equipment & Supplies - 0.5%
IDEXX Laboratories, Inc. (a)		18,250		1,813,137
Intuitive Surgical, Inc. (a)		1,550		768,227
				2,581,364
Health Care Providers & Services - 1.6%
Aetna, Inc.		6,900		273,240
Health Net, Inc. (a)		15,100		339,901
McKesson Corp.		14,170		1,219,045
UnitedHealth Group, Inc.		98,766		5,472,624
WellPoint, Inc.		32,200		1,867,922
				9,172,732
Life Sciences Tools & Services - 0.2%
Eurofins Scientific		4,398		623,843
Illumina, Inc. (a)(b)		8,852		426,666
				1,050,509
Pharmaceuticals - 3.3%
Abbott Laboratories		1,700		116,552
Allergan, Inc./United States		21,363		1,956,424
AstraZeneca PLC		28,459		1,358,773
AstraZeneca PLC (Sponsored ADR)		33,200		1,588,952
GlaxoSmithKline PLC		25,430		586,991
Johnson & Johnson		33,900		2,336,049
Merck & Co., Inc.		64,800		2,922,480
Novartis AG		13,994		856,481
Perrigo Co.		3,650		424,020
Pfizer, Inc.		177,000		4,398,450
Roche Holding AG		5,290		989,477
Roche Holding AG (Sponsored ADR)		12,800		601,472
				18,136,121
				36,374,104
Energy - 6.5%
Energy Equipment & Services - 2.2%
AMEC PLC		32,438		601,968
FMC Technologies, Inc. (a)		16,200		750,060
Helmerich & Payne, Inc.		21,200		1,009,332
Nabors Industries Ltd. (a)		34,800		488,244
National Oilwell Varco, Inc.		19,620		1,571,758
Oceaneering International, Inc.		26,072		1,440,478
Saipem SpA		4,910		236,614
Schlumberger Ltd.		51,205		3,703,658
Seadrill Ltd.		10,460		410,917
Technip SA		9,430		1,047,783
Transocean Ltd.		20,300		911,267
				12,172,079
Oil, Gas & Consumable Fuels - 4.3%
Afren PLC (a)		69,590		158,120
BG Group PLC		48,090		973,087

Company	Shares		U.S. $ Value
BP PLC		250,200	$	1,763,879
BP PLC (Sponsored ADR)		37,200		1,575,792
Chevron Corp.		22,900		2,669,224
China Petroleum & Chemical Corp.-Class H		258,000		239,317
ENI SpA		26,750		586,453
EOG Resources, Inc.		6,895		772,585
Exxon Mobil Corp.		72,293		6,611,195
Gazprom OAO (Sponsored ADR)		36,290		366,166
JX Holdings, Inc.		82,000		447,931
LUKOIL OAO (London) (Sponsored ADR)		4,040		248,622
Marathon Oil Corp.		31,500		931,455
Noble Energy, Inc.		13,631		1,263,730
NovaTek OAO (Sponsored GDR) (c)		1,950		231,028
Petroleo Brasileiro SA (Sponsored ADR)		26,000		573,820
Royal Dutch Shell PLC (ADR)		11,400		791,274
Royal Dutch Shell PLC (Euronext Amsterdam)-Class A		35,795		1,239,380
Suncor Energy, Inc. (New York)		34,890		1,146,136
Total SA		16,540		822,863
Valero Energy Corp.		9,600		304,128
				23,716,185
				35,888,264
Industrials - 5.5%
Aerospace & Defense - 1.0%
Boeing Co. (The)		25,790		1,795,500
General Dynamics Corp.		5,800		383,496
Northrop Grumman Corp.		4,100		272,363
Precision Castparts Corp.		15,025		2,454,183
Safran SA		15,950		573,715
				5,479,257
Air Freight & Logistics - 0.2%
Kuehne & Nagel International AG		10,270		1,162,190
Airlines - 0.1%
Cathay Pacific Airways Ltd.		52,000		84,153
Delta Air Lines, Inc. (a)		75,900		695,244
				779,397
Building Products - 0.2%
Asahi Glass Co., Ltd.		76,000		505,585
Fortune Brands Home & Security, Inc. (a)		17,300		467,273
				972,858
Commercial Services & Supplies - 0.2%
Downer EDI Ltd. (a)		28,210		104,434
Edenred		7,299		204,953
Serco Group PLC		108,725		1,019,647
				1,329,034
Construction & Engineering - 0.1%
Bouygues SA		19,525		474,794
Electrical Equipment - 0.7%
AMETEK, Inc.		23,652		838,463
Emerson Electric Co.		29,180		1,408,519

Company	Shares		U.S. $ Value
Rockwell Automation, Inc.		8,639	$	600,843
Roper Industries, Inc.		7,280		799,999
Sumitomo Electric Industries Ltd.		42,000		444,177
				4,092,001
Industrial Conglomerates - 1.4%
Danaher Corp.		43,379		2,392,352
General Electric Co.		165,600		3,760,776
Hopewell Holdings Ltd.		38,500		132,418
Jardine Matheson Holdings Ltd.		4,400		249,777
Jardine Strategic Holdings Ltd.		4,000		135,412
Keppel Corp., Ltd.		110,500		1,021,659
				7,692,394
Machinery - 0.5%
Cummins, Inc.		8,600		793,006
Dover Corp.		13,070		777,534
Flowserve Corp.		5,709		729,268
IHI Corp.		32,000		71,270
Parker Hannifin Corp.		1,900		158,802
				2,529,880
Professional Services - 0.9%
Bureau Veritas SA		10,963		1,125,422
Capita PLC		165,373		2,071,145
Hays PLC		57,154		71,348
Intertek Group PLC		34,452		1,527,424
SGS SA		100		205,643
				5,000,982
Road & Rail - 0.1%
DSV A/S		9,495		213,160
East Japan Railway Co.		1,700		112,481
				325,641
Trading Companies & Distributors - 0.1%
Mitsubishi Corp. (b)		18,000		326,031
Mitsui & Co., Ltd. (b)		13,400		187,998
				514,029
				30,352,457
Consumer Staples - 4.7%
Beverages - 0.1%
Asahi Group Holdings Ltd.		14,500		357,587
Food & Staples Retailing - 1.0%
CVS Caremark Corp.		18,000		871,560
Delhaize Group SA		4,637		179,088
Jeronimo Martins SGPS SA		51,271		855,945
Koninklijke Ahold NV		40,230		503,863
Kroger Co. (The)		72,800		1,713,712
Olam International Ltd. (b)		790,412		1,311,177
Sugi Holdings Co., Ltd. (b)		6,900		242,248
				5,677,593

Company	Shares		U.S. $ Value
Food Products - 0.8%
Archer-Daniels-Midland Co.		11,100	$	301,698
Bunge Ltd.		5,000		335,250
Hershey Co. (The)		21,620		1,532,642
Nestle SA		7,690		485,218
Tyson Foods, Inc.-Class A		53,600		858,672
Unilever PLC		20,400		744,843
				4,258,323
Household Products - 0.6%
Henkel AG & Co. KGaA		6,581		429,526
Procter & Gamble Co. (The)		30,800		2,136,288
Reckitt Benckiser Group PLC		15,210		876,316
				3,442,130
Personal Products - 0.3%
Estee Lauder Cos., Inc. (The)-Class A		24,930		1,534,940
Tobacco - 1.9%
Altria Group, Inc.		42,300		1,412,397
British American Tobacco PLC		48,682		2,501,445
Imperial Tobacco Group PLC		13,820		511,983
Japan Tobacco, Inc.		24,700		739,363
Lorillard, Inc.		12,700		1,478,915
Philip Morris International, Inc.		46,235		4,158,376
				10,802,479
				26,073,052
Materials - 1.5%
Chemicals - 1.0%
Agrium, Inc. (Toronto)		3,460		358,987
Air Water, Inc.		14,000		171,340
Arkema SA		313		29,297
Denki Kagaku Kogyo KK (a)		30,000		92,971
DIC Corp.		65,000		105,416
Filtrona PLC		62,297		519,059
Incitec Pivot Ltd.		6,901		21,190
Koninklijke DSM NV		13,018		649,393
LyondellBasell Industries NV		21,500		1,110,690
Monsanto Co.		16,508		1,502,558
OCI Co., Ltd.		750		120,356
PPG Industries, Inc.		5,000		574,200
Teijin Ltd. (b)		35,000		85,526
Ube Industries Ltd./Japan		41,000		88,043
				5,429,026
Construction Materials - 0.1%
Taiheiyo Cement Corp.		87,000		187,286
Metals & Mining - 0.4%
Anglo American PLC		18,810		553,733
Dowa Holdings Co., Ltd.		19,000		131,552
Goldcorp, Inc.		4,010		184,123
KGHM Polska Miedz SA		5,110		243,788
Rio Tinto PLC		15,190		710,272

Company	Shares		U.S. $ Value
Vale SA (Sponsored ADR) (Local Preference Shares)		31,740	$	551,006
				2,374,474
				7,990,786
Telecommunication Services - 1.2%
Diversified Telecommunication Services - 1.0%
AT&T, Inc.		64,700		2,439,190
CenturyLink, Inc.		22,100		892,840
Nippon Telegraph & Telephone Corp.		20,500		975,391
Telecom Italia SpA (ordinary shares)		463,414		465,524
Telecom Italia SpA (savings shares)		148,800		130,346
Vivendi SA		20,934		407,941
				5,311,232
Wireless Telecommunication Services - 0.2%
America Movil SAB de CV Series L (ADR)		5,400		137,376
NTT DoCoMo, Inc. (b)		147		237,504
Vodafone Group PLC		343,503		976,109
				1,350,989
				6,662,221
Utilities - 1.1%
Electric Utilities - 0.7%
American Electric Power Co., Inc.		14,100		619,554
Edison International		17,200		785,868
EDP-Energias de Portugal SA		137,480		377,707
Electricite de France SA		17,570		367,386
Great Plains Energy, Inc.		28,900		643,314
NV Energy, Inc.		56,200		1,012,162
				3,805,991
Gas Utilities - 0.1%
Atmos Energy Corp.		17,100		612,009
Independent Power Producers & Energy Traders - 0.1%
APR Energy PLC		31,534		425,446
Multi-Utilities - 0.2%
DTE Energy Co.		2,500		149,850
E.ON AG		23,166		550,492
National Grid PLC		35,730		394,132
Veolia Environnement SA		27,980		301,038
				1,395,512
				6,238,958
Other Instruments - 0.1%
Other Instruments - 0.1%
Retail Opportunity Investments Corp. (b)		47,021		605,160
Total Common Stocks (cost $315,066,914)				355,670,027

	Principal Amount (000)		U.S. $ Value
CORPORATES - INVESTMENT GRADES - 9.6%
Industrial - 4.7%
Basic - 0.6%
Alcoa, Inc.
5.40%, 4/15/21	U.S.$	285	$	299,152
AngloGold Ashanti Holdings PLC
5.375%, 4/15/20		290		304,500
ArcelorMittal
6.125%, 6/01/18 (b)		279		277,173
ArcelorMittal USA LLC
6.50%, 4/15/14		105		109,310
BHP Billiton Finance USA Ltd.
7.25%, 3/01/16		203		243,909
Dow Chemical Co. (The)
4.125%, 11/15/21		165		179,532
5.25%, 11/15/41		160		181,551
8.55%, 5/15/19		253		339,263
Eastman Chemical Co.
2.40%, 6/01/17		66		68,931
3.60%, 8/15/22		137		144,316
International Paper Co.
4.75%, 2/15/22		135		153,296
7.95%, 6/15/18		190		244,542
PPG Industries, Inc.
5.75%, 3/15/13		129		131,995
Teck Resources Ltd.
2.50%, 2/01/18		75		75,327
4.75%, 1/15/22 (b)		204		218,420
Vale SA
5.625%, 9/11/42		480		488,314
				3,459,531
Capital Goods - 0.2%
ADT Corp. (The)
3.50%, 7/15/22 (c)		110		114,278
Embraer SA
5.15%, 6/15/22		130		139,529
Owens Corning
6.50%, 12/01/16		178		199,879
Republic Services, Inc.
3.80%, 5/15/18		17		18,903
5.25%, 11/15/21		165		195,325
5.50%, 9/15/19		233		275,918
				943,832
Communications - Media - 0.9%
CBS Corp.
5.75%, 4/15/20		250		301,972
8.875%, 5/15/19		190		254,675
Comcast Corp.
5.15%, 3/01/20		740		880,328
DirecTV Holdings LLC/DirecTV Financing Co., Inc.
3.80%, 3/15/22		215		221,249
4.60%, 2/15/21		255		279,113
4.75%, 10/01/14		155		166,226

	Principal Amount (000)		U.S. $ Value
Globo Comunicacao e Participacoes SA
5.307%, 5/11/22 (c)(d)	U.S.$	221	$	240,337
News America, Inc.
6.15%, 3/01/37-2/15/41		352		427,873
9.25%, 2/01/13		144		147,751
Omnicom Group, Inc.
3.625%, 5/01/22		165		174,273
Reed Elsevier Capital, Inc.
8.625%, 1/15/19		435		558,684
Time Warner Cable, Inc.
5.00%, 2/01/20		157		182,021
7.50%, 4/01/14		145		159,197
Time Warner Entertainment Co. LP
8.375%, 3/15/23		311		438,143
Virgin Media Secured Finance PLC
5.25%, 1/15/21		200		232,031
WPP Finance 2010
4.75%, 11/21/21		77		84,359
WPP Finance UK
8.00%, 9/15/14		350		392,904
				5,141,136
Communications - Telecommunications - 0.6%
American Tower Corp.
5.05%, 9/01/20		380		424,082
AT&T Corp.
8.00%, 11/15/31		15		23,055
AT&T, Inc.
4.45%, 5/15/21		251		295,383
5.35%, 9/01/40		328		394,784
BellSouth Corp.
5.20%, 9/15/14		94		102,101
British Telecommunications PLC
2.00%, 6/22/15		200		205,634
5.95%, 1/15/18		121		144,900
Deutsche Telekom International Finance BV
4.875%, 3/06/42 (c)		490		526,828
Telecom Italia Capital SA
6.00%, 9/30/34		65		57,525
6.375%, 11/15/33		60		54,750
7.175%, 6/18/19		170		187,425
Telefonica Emisiones SAU
5.462%, 2/16/21		185		181,300
United States Cellular Corp.
6.70%, 12/15/33		135		138,443
Vodafone Group PLC
6.15%, 2/27/37		375		504,428
7.875%, 2/15/30		100		147,912
				3,388,550
Consumer Cyclical-Automotive - 0.2%
Ford Motor Credit Co. LLC
5.00%, 5/15/18		725		791,499

	Principal Amount (000)		U.S. $ Value
Harley-Davidson Funding Corp.
5.75%, 12/15/14 (c)		U.S.$        341	$	371,696
				1,163,195
Consumer Cyclical - Entertainment - 0.1%
Time Warner, Inc.
4.70%, 1/15/21		123		141,273
7.625%, 4/15/31		275		384,152
Turner Broadcasting System, Inc.
8.375%, 7/01/13		225		237,848
Viacom, Inc.
5.625%, 9/15/19		83		99,822
				863,095
Consumer Cyclical - Other - 0.1%
Marriott International, Inc./DE
3.00%, 3/01/19		242		248,216
Series J
5.625%, 2/15/13		216		219,652
				467,868
Consumer Cyclical - Retailers - 0.2%
CVS Caremark Corp.
6.125%, 8/15/16		100		118,502
6.60%, 3/15/19		195		249,201
Macy’s Retail Holdings, Inc.
3.875%, 1/15/22 (b)		475		512,079
				879,782
Consumer Non-Cyclical - 0.4%
Ahold Finance USA LLC
6.875%, 5/01/29		420		524,583
Bunge Ltd. Finance Corp.
5.10%, 7/15/15		69		74,123
5.875%, 5/15/13		180		185,686
8.50%, 6/15/19		153		193,853
Cadbury Schweppes US Finance LLC
5.125%, 10/01/13 (c)		260		270,427
Delhaize Group SA
5.875%, 2/01/14		105		110,316
Kroger Co. (The)
3.40%, 4/15/22		340		354,121
Laboratory Corp. of America Holdings
2.20%, 8/23/17		115		117,457
3.75%, 8/23/22		60		62,785
Tyson Foods, Inc.
4.50%, 6/15/22		216		226,260
Watson Pharmaceuticals, Inc.
3.25%, 10/01/22		171		169,572
				2,289,183
Energy - 0.7%
Anadarko Petroleum Corp.
6.45%, 9/15/36		109		135,045

	Principal Amount (000)		U.S. $ Value
Canadian Natural Resources Ltd.
5.15%, 2/01/13	U.S.$	100	$	101,535
ConocoPhillips Holding Co.
6.95%, 4/15/29		66		93,408
Encana Corp.
3.90%, 11/15/21 (b)		580		612,950
Marathon Petroleum Corp.
3.50%, 3/01/16		67		71,044
5.125%, 3/01/21		318		366,951
Nabors Industries, Inc.
9.25%, 1/15/19		269		352,046
Noble Energy, Inc.
8.25%, 3/01/19		303		392,328
Noble Holding International Ltd.
4.90%, 8/01/20		36		40,215
Phillips 66
4.30%, 4/01/22 (c)		490		536,625
Southwestern Energy Co.
4.10%, 3/15/22 (c)		135		143,288
Transocean, Inc.
2.50%, 10/15/17		212		213,139
Valero Energy Corp.
6.125%, 2/01/20		275		334,027
Weatherford International Ltd./Bermuda
5.125%, 9/15/20		175		191,318
9.625%, 3/01/19		285		370,963
				3,954,882
Technology - 0.3%
Agilent Technologies, Inc.
5.00%, 7/15/20		71		81,388
Hewlett-Packard Co.
4.65%, 12/09/21		214		223,137
Intel Corp.
4.80%, 10/01/41		265		309,979
Motorola Solutions, Inc.
7.50%, 5/15/25		35		43,610
Telefonaktiebolaget LM Ericsson
4.125%, 5/15/22		495		510,378
Xerox Corp.
2.95%, 3/15/17		91		94,026
8.25%, 5/15/14		280		310,594
				1,573,112
Transportation - Airlines - 0.1%
Southwest Airlines Co.
5.25%, 10/01/14		307		329,600
5.75%, 12/15/16		155		177,209
				506,809
Transportation - Railroads - 0.1%
CSX Corp.
4.75%, 5/30/42		465		505,599
5.50%, 8/01/13		35		36,420
				542,019

	Principal Amount (000)		U.S. $ Value
Transportation - Services - 0.2%
Asciano Finance Ltd.
3.125%, 9/23/15 (c)	U.S.$	470	$	476,904
Con-way, Inc.
6.70%, 5/01/34		291		314,121
Ryder System, Inc.
5.85%, 11/01/16		127		145,452
7.20%, 9/01/15		127		147,313
				1,083,790
				26,256,784
Financial Institutions - 3.6%
Banking - 2.2%
Bank of America Corp.
5.875%, 1/05/21-2/07/42		414		481,568
7.375%, 5/15/14		340		372,181
Series L
5.65%, 5/01/18		90		102,616
Barclays Bank PLC
6.625%, 3/30/22 (c)	EUR	300		404,404
Bear Stearns Cos. LLC (The)
5.55%, 1/22/17	U.S.$	290		329,768
5.70%, 11/15/14		190		208,066
Citigroup, Inc.
4.50%, 1/14/22		640		702,709
5.375%, 8/09/20		419		484,413
8.50%, 5/22/19		190		251,276
Compass Bank
5.50%, 4/01/20		314		307,649
Countrywide Financial Corp.
6.25%, 5/15/16		92		100,318
DNB Bank ASA
3.20%, 4/03/17 (c)		485		506,534
Fifth Third Bancorp
3.50%, 3/15/22		188		200,423
Goldman Sachs Group, Inc. (The)
5.75%, 1/24/22		290		334,044
6.00%, 6/15/20		440		507,337
7.50%, 2/15/19		335		415,464
HSBC Holdings PLC
4.00%, 3/30/22		515		552,552
5.10%, 4/05/21		320		369,676
ING Bank NV
2.00%, 9/25/15 (c)		480		479,193
JPMorgan Chase & Co.
4.40%, 7/22/20		390		429,229
4.50%, 1/24/22		165		183,026
4.625%, 5/10/21		233		260,447
Macquarie Bank Ltd.
5.00%, 2/22/17 (c)		90		96,129
Macquarie Group Ltd.
4.875%, 8/10/17 (b)(c)		194		204,069
Morgan Stanley
5.50%, 7/24/20		350		377,897
6.625%, 4/01/18		345		396,384
Series G

	Principal Amount (000)		U.S. $ Value
5.50%, 7/28/21	U.S.$	326	$	356,770
National Capital Trust II
5.486%, 3/23/15 (c)		91		92,031
Nationwide Building Society
6.25%, 2/25/20 (c)		465		533,398
Santander US Debt SAU
2.991%, 10/07/13 (c)		500		499,205
Societe Generale SA
2.50%, 1/15/14 (c)		245		245,539
SouthTrust Corp.
5.80%, 6/15/14		225		242,281
UBS AG/Stamford CT
7.625%, 8/17/22		380		392,212
Unicredit Luxembourg Finance SA
6.00%, 10/31/17 (c)		230		218,591
Vesey Street Investment Trust I
4.404%, 9/01/16		158		168,498
Wachovia Corp.
5.50%, 5/01/13		320		329,447
				12,135,344
Finance - 0.3%
General Electric Capital Corp.
4.65%, 10/17/21		193		216,309
5.625%, 5/01/18		480		566,064
SLM Corp.
7.25%, 1/25/22		340		380,800
Series A
5.375%, 5/15/14		270		284,384
				1,447,557
Insurance - 0.8%
Allied World Assurance Co., Ltd.
7.50%, 8/01/16		160		186,083
Allstate Corp. (The)
6.125%, 5/15/37		209		215,270
American International Group, Inc.
4.875%, 6/01/22		195		219,757
6.40%, 12/15/20		300		365,428
Coventry Health Care, Inc.
5.95%, 3/15/17		90		105,097
6.125%, 1/15/15		40		44,005
6.30%, 8/15/14		275		300,432
Guardian Life Insurance Co. of America
7.375%, 9/30/39 (c)		163		215,105
Hartford Financial Services Group, Inc.
4.00%, 3/30/15		95		100,170
5.125%, 4/15/22		180		202,184
5.50%, 3/30/20		242		273,874
Humana, Inc.
6.45%, 6/01/16		40		45,853
7.20%, 6/15/18		285		345,405
Lincoln National Corp.
8.75%, 7/01/19		98		128,407
Markel Corp.
7.125%, 9/30/19		151		181,707

	Principal Amount (000)		U.S. $ Value
Massachusetts Mutual Life Insurance Co.
8.875%, 6/01/39 (c)	U.S.$	90	$	132,790
MetLife, Inc.
7.717%, 2/15/19		112		145,905
10.75%, 8/01/39		140		207,900
Nationwide Mutual Insurance Co.
9.375%, 8/15/39 (c)		335		458,398
WellPoint, Inc.
3.30%, 1/15/23		170		171,943
XL Group PLC
5.25%, 9/15/14		135		144,179
6.375%, 11/15/24		157		186,573
				4,376,465
Other Finance - 0.1%
ORIX Corp.
4.71%, 4/27/15		336		357,292
REITS - 0.2%
ERP Operating LP
5.25%, 9/15/14		105		113,298
HCP, Inc.
5.375%, 2/01/21		505		576,115
Health Care REIT, Inc.
5.25%, 1/15/22		505		568,662
Healthcare Realty Trust, Inc.
5.125%, 4/01/14		131		137,812
				1,395,887
				19,712,545
Utility - 1.2%
Electric - 0.5%
Allegheny Energy Supply Co. LLC
5.75%, 10/15/19 (c)		205		225,654
Constellation Energy Group, Inc.
5.15%, 12/01/20		89		104,609
FirstEnergy Corp.
Series C
7.375%, 11/15/31		275		360,213
MidAmerican Energy Holdings Co.
6.125%, 4/01/36		395		505,354
Nisource Finance Corp.
6.80%, 1/15/19		502		606,096
Pacific Gas & Electric Co.
4.50%, 12/15/41		190		209,899
6.05%, 3/01/34		38		49,943
SPI Electricity & Gas Australia Holdings Pty Ltd.
6.15%, 11/15/13 (c)		348		360,364
TECO Finance, Inc.
4.00%, 3/15/16		100		108,157
5.15%, 3/15/20		125		145,660
Union Electric Co.
6.70%, 2/01/19		45		57,551
				2,733,500

	Principal Amount (000)		U.S. $ Value
Natural Gas - 0.7%
DCP Midstream LLC
5.35%, 3/15/20 (c)	U.S.$	137	$	150,318
Energy Transfer Partners LP
6.70%, 7/01/18		127		150,793
7.50%, 7/01/38		410		486,056
Enterprise Products Operating LLC
5.20%, 9/01/20		305		359,290
EQT Corp.
8.125%, 6/01/19		234		283,277
Kinder Morgan Energy Partners LP
3.95%, 9/01/22		424		455,469
4.15%, 3/01/22		220		237,662
ONEOK, Inc.
4.25%, 2/01/22		480		520,875
Talent Yield Investments Ltd.
4.50%, 4/25/22 (c)		490		530,054
TransCanada PipeLines Ltd.
6.35%, 5/15/67		120		128,319
Williams Partners LP
5.25%, 3/15/20		298		345,328
				3,647,441
				6,380,941
Non Corporate Sectors - 0.1%
Agencies - Not Government Guaranteed - 0.1%
Gazprom OAO Via Gaz Capital SA
6.212%, 11/22/16 (c)		290		322,277
Petrobras International Finance Co. - Pifco
5.75%, 1/20/20		345		393,230
				715,507
Total Corporates - Investment Grades (cost $48,191,601)				53,065,777
MORTGAGE PASS-THROUGHS - 7.2%
Agency Fixed Rate 30-Year - 5.8%
Federal Home Loan Mortgage Corp. Gold
4.50%, 10/01/39		2,991		3,217,883
5.50%, 4/01/38		2,207		2,407,000
Series 2005
5.50%, 1/01/35		779		854,934
Series 2007
5.50%, 7/01/35		83		90,778
Federal National Mortgage Association
3.50%, TBA		2,305		2,465,990
4.00%, 1/01/41-12/01/41		6,161		6,647,882
4.50%, TBA		2,750		2,976,446
4.50%, 8/01/40		896		972,643
5.00%, 12/01/39		448		488,909
5.50%, 5/01/38-6/01/38		1,536		1,685,510
6.00%, 8/01/37-7/01/39		2,762		3,056,429
Series 2003
5.00%, 11/01/33		220		241,277
Series 2004
5.50%, 2/01/34-11/01/34		313		346,301

	Principal Amount (000)		U.S. $ Value
6.00%, 9/01/34-11/01/34	U.S.$	282	$	316,869
Series 2005
4.50%, 8/01/35		228		247,163
Series 2006
5.00%, 2/01/36		799		874,757
6.00%, 3/01/36		113		126,337
Series 2007
4.50%, 9/01/35		199		216,546
5.00%, 11/01/35-7/01/36		244		266,759
5.50%, 1/01/37-8/01/37		1,192		1,320,220
Series 2008
5.50%, 8/01/37		552		609,172
6.00%, 3/01/37-5/01/38		1,659		1,843,937
Series 2010
6.00%, 2/01/40-4/01/40		791		874,301
				32,148,043
Agency Fixed Rate 15-Year - 1.1%
Federal National Mortgage Association
3.00%, TBA		1,890		2,003,400
4.50%, TBA		790		852,336
4.50%, 6/01/26		2,752		2,980,081
				5,835,817
Agency ARMs - 0.3%
Federal Home Loan Mortgage Corp.
2.362%, 4/01/35 (e)		888		947,571
Series 2008
2.866%, 11/01/37 (f)		78		83,516
Federal National Mortgage Association
2.425%, 8/01/37 (e)		411		439,442
Series 2007
2.336%, 3/01/34 (f)		243		256,930
				1,727,459
Total Mortgage Pass-Throughs (cost $38,356,173)				39,711,319
GOVERNMENTS - TREASURIES - 6.3%
United States - 6.3%
U.S. Treasury Bonds
2.75%, 8/15/42		280		275,363
3.00%, 5/15/42		900		933,188
4.50%, 2/15/36		1,490		1,987,752
4.625%, 2/15/40		3,835		5,263,538
5.375%, 2/15/31		5		7,232
U.S. Treasury Notes
0.50%, 7/31/17		1,155		1,149,315
0.625%, 8/31/17		775		775,484
0.75%, 6/30/17		775		780,873
0.875%, 11/30/16		7,325		7,443,460
1.00%, 8/31/16-3/31/17		10,490		10,709,425
1.625%, 8/15/22		1,615		1,613,233
1.75%, 5/15/22		1,890		1,916,577
2.00%, 11/15/21		2,070		2,161,047

	Principal Amount (000)		U.S. $ Value
Total Governments - Treasuries (cost $32,969,689)			$	35,016,487
ASSET-BACKED SECURITIES - 3.7%
Autos - Fixed Rate - 2.0%
AmeriCredit Automobile Receivables Trust
Series 2011-5, Class A2
1.19%, 8/08/15	U.S.$	160		160,587
Series 2012-4, Class A2
0.49%, 4/08/16		710		710,022
Series 2011-3, Class A2
0.84%, 11/10/14		297		297,415
Series 2011-4, Class A2
0.92%, 3/09/15		184		184,356
Avis Budget Rental Car Funding AESOP LLC
Series 2012-3A, Class A
2.10%, 3/20/19 (c)		345		351,914
Bank of America Auto Trust
Series 2012-1, Class A4
1.03%, 12/15/16		395		400,444
Exeter Automobile Receivables Trust
Series 2012-1A, Class A
2.02%, 8/15/16 (c)		274		274,658
Series 2012-2A, Class A
1.30%, 6/15/17 (c)		460		459,954
Ford Auto Securitization Trust
Series 2011-R3A, Class A2
1.96%, 7/15/15 (c)	CAD	655		668,425
Ford Credit Auto Lease Trust
Series 2011-B, Class A2
0.82%, 1/15/14	U.S.$	225		225,152
Series 2012-B, Class A2
0.54%, 11/15/14		511		511,042
Series 2011-A, Class A2
0.74%, 9/15/13		311		311,405
Ford Credit Floorplan Master Owner Trust
Series 2012-4, Class A1
0.74%, 9/15/16		1,080		1,079,834
Huntington Auto Trust
Series 2011-1A, Class A3
1.01%, 1/15/16 (c)		297		298,730
Hyundai Auto Lease Securitization Trust
Series 2011-A, Class A2
0.69%, 11/15/13 (c)		109		108,751
Hyundai Auto Receivables Trust
Series 2012-B, Class C
1.95%, 10/15/18		140		140,761
Mercedes-Benz Auto Lease Trust
Series 2012-A, Class A2
0.66%, 4/15/14		605		605,730
Navistar Financial Corp. Owner Trust
Series 2012-A, Class A2
0.85%, 3/18/15 (c)		570		570,719

	Principal Amount (000)		U.S. $ Value
Nissan Auto Lease Trust
Series 2012-A, Class A2A
0.68%, 7/15/14	U.S.$	440	$	441,303
Santander Drive Auto Receivables Trust
Series 2012-3, Class A3
1.08%, 4/15/16		530		533,456
Series 2012-4, Class A2
0.79%, 8/17/15		353		354,093
SMART Trust/Australia
Series 2011-2USA, Class A2A
1.22%, 11/14/13 (c)		279		279,346
Volkswagen Auto Loan Enhanced Trust
Series 2011-1, Class A3
1.22%, 6/22/15		1,040		1,046,697
World Omni Automobile Lease Securitization Trust
Series 2012-A, Class A3
0.93%, 11/16/15		572		576,088
Series 2011-A, Class A2
0.81%, 10/15/13		416		416,479
				11,007,361
Credit Cards - Fixed Rate - 0.5%
American Express Credit Account Master Trust
Series 2012-2, Class A
0.68%, 3/15/18		1,010		1,013,421
Discover Card Master Trust
Series 2012-A1, Class A1
0.81%, 8/15/17 (e)		304		306,603
Series 2012-A3, Class A3
0.86%, 11/15/17		260		262,385
GE Capital Credit Card Master Note Trust
Series 2012-6, Class A
1.36%, 8/17/20		950		958,466
World Financial Network Credit Card Master Trust
Series 2012-B, Class A
1.76%, 5/17/21		310		311,916
				2,852,791
Autos - Floating Rate - 0.4%
BMW Floorplan Master Owner Trust
Series 2012-1A, Class A
0.619%, 9/15/17 (c)(e)		616		616,013
Ford Credit Floorplan Master Owner Trust
Series 2012-1, Class A
0.691%, 1/15/16 (e)		187		187,786
GE Dealer Floorplan Master Note Trust
Series 2009-2A, Class A
1.771%, 10/20/14 (c)(e)		794		794,762
Hyundai Floorplan Master Owner Trust
Series 2009-1A, Class A
1.471%, 11/17/14 (c)(e)		595		595,841
				2,194,402

	Principal Amount (000)		U.S. $ Value
Credit Cards - Floating Rate - 0.4%
American Express Credit Account Master Trust
Series 2011-1, Class A
0.391%, 4/17/17 (e)	U.S.$	460	$	461,011
Gracechurch Card Funding PLC
Series 2012-1A, Class A1
0.921%, 2/15/17 (c)(e)		490		491,168
Penarth Master Issuer PLC
Series 2012-1A, Class A1
0.79%, 3/18/14 (c)(e)		545		545,559
Series 2010-2A, Class A2
0.97%, 12/18/14 (c)(e)		420		420,331
				1,918,069
Other ABS - Fixed Rate - 0.3%
CIT Canada Equipment Receivables Trust
Series 2012-1A, Class A1
1.705%, 7/22/13 (c)	CAD	186		188,775
CIT Equipment Collateral
Series 2012-VT1, Class A3
1.10%, 8/22/16 (c)	U.S.$	268		268,392
CNH Equipment Trust
Series 2012-A, Class A3
0.94%, 5/15/17		375		377,828
Series 2010-C, Class A3
1.17%, 5/15/15		199		199,654
GE Equipment Midticket LLC
Series 2011-1, Class A3
1.00%, 8/24/15		195		195,889
GE Equipment Small Ticket LLC
Series 2011-2A, Class A2
1.14%, 6/23/14 (c)		275		275,256
John Deere Owner Trust
Series 2011-A, Class A2
0.64%, 6/16/14		80		80,330
				1,586,124
Other ABS - Floating Rate - 0.1%
GE Dealer Floorplan Master Note Trust
Series 2012-3, Class A
0.709%, 6/20/17 (e)		790		793,909
Home Equity Loans - Fixed Rate - 0.0%
Credit-Based Asset Servicing and Securitization LLC
Series 2003-CB1, Class AF
3.95%, 1/25/33		118		115,481
Home Equity Loans - Floating Rate - 0.0%
Bear Stearns Asset Backed Securities Trust
Series 2007-HE3, Class M1
0.667%, 4/25/37 (e)(g)		100		2,330

	Principal Amount (000)		U.S. $ Value
Option One Mortgage Loan Trust
Series 2007-2, Class M1
0.577%, 3/25/37 (e)(g)	U.S.$	76	$	207
RASC Trust
Series 2003-KS3, Class A2
0.817%, 5/25/33 (e)		1		998
				3,535
Total Asset-Backed Securities (cost $20,553,252)				20,471,672
AGENCIES - 2.9%
Agency Debentures - 2.5%
Federal Farm Credit Bank
0.237%, 11/13/12 (e)		900		900,129
0.248%, 10/12/12 (e)		1,200		1,200,055
0.277%, 6/26/13 (e)		2,500		2,502,005
Federal National Mortgage Association
0.25%, 10/18/12 (e)		500		500,020
6.25%, 5/15/29		740		1,084,383
6.625%, 11/15/30		2,277		3,494,079
Residual Funding Corp. Principal Strip Zero Coupon, 7/15/20		4,770		4,213,394
				13,894,065
Agency Subordinated - 0.4%
Federal Home Loan Mortgage Corp.
2.375%, 1/13/22		2,198		2,305,790
Total Agencies (cost $14,432,675)				16,199,855
COMMERCIAL MORTGAGE-BACKED SECURITIES - 2.1%
Non-Agency Fixed Rate CMBS - 1.9%
Citigroup Commercial Mortgage Trust
Series 2004-C1, Class A4
5.534%, 4/15/40		110		116,974
Credit Suisse First Boston Mortgage Securities Corp.
Series 2004-C1, Class A4
4.75%, 1/15/37		69		71,281
Series 2005-C1, Class A4
5.014%, 2/15/38		260		282,728
Credit Suisse Mortgage Capital Certificates
Series 2006-C3, Class A3
6.00%, 6/15/38		620		714,381
CW Capital Cobalt Ltd.
Series 2007-C3, Class A4
5.998%, 5/15/46		535		623,794
Greenwich Capital Commercial Funding Corp.
Series 2005-GG5, Class AJ
5.427%, 4/10/37		215		161,154
Series 2007-GG9, Class A4
5.444%, 3/10/39		885		1,010,512
GS Mortgage Securities Corp. II

	Principal Amount (000)		U.S. $ Value
Series 2004-GG2, Class A6
5.396%, 8/10/38	U.S.$	80	$	85,654
Series 2012-GCJ7, Class A4
3.377%, 5/10/45		960		1,036,406
JP Morgan Chase Commercial Mortgage Securities Corp.
Series 2005-CB11, Class A4
5.335%, 8/12/37		170		187,452
Series 2006-CB14, Class A4
5.481%, 12/12/44		315		355,077
Series 2006-CB16, Class A4
5.552%, 5/12/45		335		385,360
Series 2007-LD11, Class A4
6.003%, 6/15/49		895		1,035,941
Series 2007-LD12, Class AM
6.247%, 2/15/51		280		297,471
Series 2010-C2, Class A1
2.749%, 11/15/43 (c)		402		421,169
LB-UBS Commercial Mortgage Trust
Series 2004-C4, Class A4
5.446%, 6/15/29		40		42,740
Series 2006-C1, Class A4
5.156%, 2/15/31		1,095		1,227,894
Series 2006-C3, Class A4
5.661%, 3/15/39		285		325,348
Series 2006-C4, Class A4
6.064%, 6/15/38		275		317,785
Merrill Lynch Mortgage Trust
Series 2005-CIP1, Class A2
4.96%, 7/12/38		374		382,273
Merrill Lynch/Countrywide Commercial Mortgage Trust
Series 2006-2, Class A4
6.091%, 6/12/46		110		127,375
Series 2006-3, Class A2
5.291%, 7/12/46		851		873,099
Series 2006-3, Class A4
5.414%, 7/12/46		480		552,141
				10,634,009
Agency CMBS - 0.2%
FHLMC Multifamily Structured Pass Through Certificates
Series K008, Class A2
3.531%, 6/25/20		634		708,123
Non-Agency Floating Rate CMBS - 0.0%
GS Mortgage Securities Corp. II
Series 2007-EOP, Class E
2.476%, 3/06/20 (c)(e)		75		74,997
Total Commercial Mortgage-Backed Securities (cost $10,567,113)				11,417,129

	Principal Amount (000)		U.S. $ Value
CORPORATES - NON-INVESTMENT GRADES - 0.5%
Industrial - 0.4%
Basic - 0.1%
LyondellBasell Industries NV
5.75%, 4/15/24	U.S.$	435	$	494,812
Capital Goods - 0.2%
B/E Aerospace, Inc.
5.25%, 4/01/22		295		306,800
Ball Corp.
5.00%, 3/15/22		290		303,775
Hanson Australia Funding Ltd.
5.25%, 3/15/13		120		122,104
				732,679
Consumer Cyclical - Other - 0.1%
Host Hotels & Resorts LP
5.25%, 3/15/22 (b)(c)		195		210,600
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.375%, 3/15/22 (b)(c)		295		303,850
				514,450
Consumer Cyclical - Retailers - 0.0%
Dollar General Corp.
4.125%, 7/15/17		79		82,555
Energy - 0.0%
Cimarex Energy Co.
5.875%, 5/01/22		145		152,975
				1,977,471
Financial Institutions - 0.1%
Banking - 0.1%
ABN Amro Bank NV
4.31%, 3/10/16	EUR	90		86,162
LBG Capital No.1 PLC
8.00%, 6/15/20 (c)	U.S.$	235		224,870
				311,032
Other Finance - 0.0%
Aviation Capital Group Corp.
7.125%, 10/15/20 (c)		173		182,068
				493,100
Utility - 0.0%
Electric - 0.0%
CMS Energy Corp.
5.05%, 3/15/22		155		170,725
Total Corporates - Non-Investment Grades (cost $2,301,850)				2,641,296

	Principal Amount (000)		U.S. $ Value
QUASI-SOVEREIGNS - 0.4%
Quasi-Sovereign Bonds - 0.4%
Indonesia - 0.0%
Perusahaan Listrik Negara PT
5.50%, 11/22/21 (c)	U.S.$	250	$	279,688
Kazakhstan - 0.1%
KazMunayGas National Co.
7.00%, 5/05/20 (c)		251		308,102
Malaysia - 0.1%
Petronas Capital Ltd.
5.25%, 8/12/19 (c)		460		544,445
South Korea - 0.1%
Korea National Oil Corp.
3.125%, 4/03/17 (c)		485		509,609
United Arab Emirates - 0.1%
IPIC GMTN Ltd.
3.75%, 3/01/17 (c)		465		489,180
Total Quasi-Sovereigns (cost $1,906,354)				2,131,024
GOVERNMENTS - SOVEREIGN BONDS - 0.2%
Indonesia - 0.1%
Republic of Indonesia
5.25%, 1/17/42 (c)		475		540,906
Qatar - 0.1%
State of Qatar
4.50%, 1/20/22 (c)		270		305,100
Russia - 0.0%
Russian Foreign Bond - Eurobond
7.50%, 3/31/30 (c)		240		303,316
Total Governments - Sovereign Bonds (cost $999,751)				1,149,322
LOCAL GOVERNMENTS - MUNICIPAL BONDS - 0.1%
United States - 0.1%
California GO
7.625%, 3/01/40 (cost $464,423)		455		619,055
COLLATERALIZED MORTGAGE OBLIGATIONS - 0.0%
Non-Agency Fixed Rate - 0.0%
Citigroup Mortgage Loan Trust, Inc.
Series 2005-2, Class 1A4
2.745%, 5/25/35		45		43,986
Merrill Lynch Mortgage Investors, Inc.
Series 2005-A8, Class A1C1
5.25%, 8/25/36		23		22,891
				66,877

	Principal Amount (000)		U.S. $ Value
Non-Agency Floating Rate - 0.0%
Countrywide Alternative Loan Trust
Series 2005-62, Class 2A1
1.148%, 12/25/35 (e)	U.S.$	30	$	20,941
Total Collateralized Mortgage Obligations (cost $97,216)				87,818
	Contracts
OPTIONS PURCHASED - PUTS - 0.0%
Options on Equity Indices - 0.0%
STOXX Europe Mid 200 Index
Expiration: Dec 2012, Exercise Price: EUR 225.00 (a)(h) (cost $292,224)		14,270		16,504
	Shares
RIGHTS - 0.0%
Consumer Discretionary - 0.0%
Household Durables - 0.0%
Brookfield Incorporacoes SA (a) (cost $0)		23,362		9,911
	Principal Amount (000)
SHORT-TERM INVESTMENTS - 3.9%
Time Deposit - 2.1%
State Street Time Deposit 0.01%, 10/01/12 (cost $11,699,060)	U.S.$	11,699		11,699,060
U.S. Treasury Bill - 0.8%
U.S. Treasury Bill Zero Coupon 10/11/12-12/13/12 (cost $4,604,688)		4,605		4,604,688
Governments - Treasuries - 1.0%
Japan Treasury Discount Bill Series 292 Zero Coupon, 10/09/12 (cost $5,750,308)	JPY	450,000		5,766,149
Total Short-Term Investments (cost $22,054,056)				22,069,897

	Shares		U.S. $ Value
Total Investments Before Security Lending Collateral for Securities Loaned - 101.1% (cost $508,253,291)			$	560,277,093
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 2.1%
Investment Companies - 2.1%
AllianceBernstein Exchange Reserves-Class I,
0.17% (i) (cost $11,691,540)		11,691,540		11,691,540
Total Investments - 103.2% (cost $519,944,831) (j)				571,968,633
Other assets less liabilities - (3.2)% (k)				(17,645,946	)
Net Assets - 100.0%			$	554,322,687

FUTURES CONTRACTS

Type	Number of Contracts		Expiration Month		Original Value		Value at September 30, 2012		Unrealized Appreciation/ (Depreciation)
Purchased Contracts
Euro STOXX 50 Index Futures		7		December 2012	$	229,303	$	220,836	$	(8,467	)
TOPIX Index Futures		1		December 2012		92,910		94,182		1,272
									$	(7,195	)

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to       Deliver (000)		In Exchange     For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC Wholesale	GBP	2,304	USD	3,609		11/15/12	$	(111,330	)
Barclays Bank PLC Wholesale	USD	982	EUR	787		11/15/12		29,415
Barclays Bank PLC Wholesale	USD	3,460	GBP	2,209		11/15/12		106,740
Barclays Bank PLC Wholesale	USD	477	JPY	37,836		11/15/12		8,099
Barclays Bank PLC Wholesale	USD	1,728	SEK	11,481		12/14/12		15,923
BNP Paribas SA	EUR	3,954	USD	4,888		11/15/12		(195,707	)
Citibank NA	CAD	864	USD	885		11/09/12		6,295
Citibank NA	GBP	269	USD	437		11/15/12		2,639
Citibank NA	JPY	171,962	USD	2,172		11/15/12		(31,810	)
Credit Suisse London Branch (GFX)	JPY	450,000	USD	5,748		10/09/12		(18,524	)
Credit Suisse London Branch (GFX)	EUR	440	USD	574		10/24/12		9,056
Credit Suisse London Branch (GFX)	JPY	84,636	USD	1,073		11/15/12		(11,994	)
Credit Suisse London Branch (GFX)	USD	638	CHF	624		11/15/12		26,226
Credit Suisse London Branch (GFX)	USD	4,214	EUR	3,231		11/15/12		(60,217	)

Counterparty	Contracts  to Deliver (000)		In Exchange For (000)		Settlement Date	Unrealized Appreciation/ (Depreciation)
Credit Suisse London Branch (GFX)	USD	3,132	JPY	246,325	11/15/12	$	25,090
Credit Suisse London Branch (GFX)	USD	681	NOK	4,173	11/15/12		45,956
Credit Suisse London Branch (GFX)	USD	1,311	EUR	1,005	12/14/12		(18,683	)
Deutsche Bank AG London	USD	2,665	JPY	208,694	11/15/12		10,617
Deutsche Bank AG London	USD	757	AUD	733	12/14/12		(1,297	)
Goldman Sachs Capital Markets LP	GBP	1,428	USD	2,278	11/15/12		(27,031	)
Goldman Sachs Capital Markets LP	USD	386	NZD	469	12/14/12		594
HSBC BankUSA	HKD	33,071	USD	4,265	11/15/12		(293	)
HSBC BankUSA	USD	570	GBP	357	12/14/12		6,713
HSBC BankUSA	USD	1,491	NOK	8,679	12/14/12		19,258
JPMorgan Chase Bank NA	USD	788	SGD	984	11/15/12		13,903
JPMorgan Chase Bank NA	JPY	37,998	USD	484	12/14/12		(3,138	)
Royal Bank of Canada	CAD	3,182	USD	3,194	11/15/12		(39,741	)
Royal Bank of Canada	JPY	92,411	USD	1,177	11/15/12		(7,203	)
Royal Bank of Canada	CAD	611	USD	624	12/14/12		3,518
Royal Bank of Scotland PLC	EUR	299	USD	372	11/15/12		(12,808	)
Royal Bank of Scotland PLC	USD	3,854	AUD	3,714	11/15/12		(16,716	)
Royal Bank of Scotland PLC	EUR	2,470	USD	3,164	12/14/12		(12,024	)
Standard Chartered Bank	BRL	844	USD	416	10/02/12		(687	)
Standard Chartered Bank	USD	415	BRL	844	10/02/12		1,484
State Street Bank & Trust Co.	BRL	844	USD	412	10/02/12		(3,896	)
State Street Bank & Trust Co.	CHF	353	USD	367	11/15/12		(8,382	)
State Street Bank & Trust Co.	INR	23,374	USD	416	11/15/12		(23,598	)
State Street Bank & Trust Co.	USD	159	CAD	158	11/15/12		1,733
State Street Bank & Trust Co.	USD	549	EUR	440	11/15/12		16,904
State Street Bank & Trust Co.	USD	127	SEK	884	11/15/12		7,584
State Street Bank & Trust Co.	AUD	193	USD	200	12/14/12		1,445
State Street Bank & Trust Co.	GBP	197	USD	319	12/14/12		1,452
State Street Bank & Trust Co.	JPY	16,606	USD	212	12/14/12		(1,058	)
State Street Bank & Trust Co.	SEK	1,053	USD	161	12/14/12		975
UBS AG	AUD	1,081	USD	1,124	11/15/12		7,238
UBS AG	CHF	688	USD	742	11/15/12		9,599
UBS AG	EUR	383	USD	495	11/15/12		2,368
UBS AG	USD	844	EUR	678	11/15/12		27,321
UBS AG	USD	2,008	NOK	11,853	11/15/12		57,781
UBS AG	USD	2,136	SEK	14,348	11/15/12		45,240
Westpac Banking Corp.	AUD	413	USD	433	11/15/12		5,715
						$	(89,256	)

PUT OPTIONS WRITTEN

Description	Contracts		Exercise Price		Expiration Month	U.S. $ Value
STOXX Europe Mid 200 Index (h) (premium received $117,034)		14,270	$	190.00	December 2012	$	(1,834	)

INTEREST RATE SWAP CONTRACTS

					Rate Type
Swap Counterparty	Notional Amount (000)		Termination Date		Payments made  by the Fund			Payments received by the Fund	Unrealized Appreciation/ (Depreciation)
JPMorgan Chase Bank, NA	$	1,970		1/30/17		1.059	%	3 Month LIBOR	$	(37,546	)
JPMorgan Chase Bank, NA		2,200		2/7/22		2.043	%	3 Month LIBOR		(90,861	)
									$	(128,407	)

CREDIT DEFAULT SWAP CONTRACTS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Implied Credit Spread at September 30, 2012			Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
Barclays Bank PLC.:
Bank of America Corp., 5.65% 5/01/18, 9/20/17*		1.00	%		1.69	%	$	360	$	(11,678	)	$	(24,833	)	$	13,155
BNP Paribas SA:
Anadarko Petroleum Corp. 5.95%, 9/15/16, 9/20/17*		1.00			1.66			530		(16,521	)		(17,836	)		1,315
									$	(28,199	)	$	(42,669	)	$	14,470

* Termination date

(a) Non-income producing security.

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

(c) 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 September 30, 2012, the aggregate market value of these securities amounted to $20,491,958 or 3.7% of net assets.

(d) Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at September 30, 2012.

(e) Floating Rate Security. Stated interest rate was in effect at September 30, 2012.

(f) Variable rate coupon, rate shown as of September 30, 2012.

(g) Illiquid security.

(h) One contract relates to 1 share.

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

(j) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $65,028,165 and gross unrealized depreciation of investments was $(13,004,363), resulting in net unrealized appreciation of $52,023,802.

(k) An amount of U.S. $19,583 has been segregated to collateralize margin requirements for the open futures contracts at September 30, 2012.

Currency Abbreviation:

AUD	-	Australian Dollar
BRL	-	Brazilian Real
CAD	-	Canadian Dollar
CHF	-	Swiss Franc
EUR	-	Euro
GBP	-	Great British Pound
HKD	-	Hong Kong Dollar
INR	-	Indian Rupee
JPY	-	Japanese Yen
NOK	-	Norwegian Krone
NZD	-	New Zealand Dollar
SEK	-	Swedish Krona
SGD	-	Singapore Dollar
USD	-	United States Dollar

Glossary:

ABS	-	Asset-Backed Securities
ADR	-	American Depositary Receipt
ARMs	-	Adjustable Rate Mortgages
CMBS	-	Commercial Mortgage-Backed Securities
FHLMC	-	Federal Home Loan Mortgage Corporation
GDR	-	Global Depositary Receipt
GO	-	General Obligation
LIBOR	-	London Interbank Offered Rates
NVDR	-	Non Voting Depositary Receipt
REG	-	Registered Shares
TBA	-	To Be Announced

AllianceBernstein Variable Products Series Fund

Balanced Wealth Strategy Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks:

Financials

$

53,659,639

$

46,329,644

$

– 0

–

$

99,989,283

Information Technology

48,047,041

4,800,907

– 0

–

52,847,948

Consumer Discretionary

38,213,366

14,434,428

– 0

–

52,647,794

Health Care

31,290,099

5,084,005

– 0

–

36,374,104

Energy

26,073,995

9,814,269

– 0

–

35,888,264

Industrials

18,327,621

12,024,836

– 0

–

30,352,457

Consumer Staples

16,334,450

9,738,602

– 0

–

26,073,052

Materials

3,730,558

4,260,228

– 0

–

7,990,786

Telecommunication Services

3,469,406

3,192,815

– 0

–

6,662,221

Utilities

4,248,203

1,990,755

– 0

–

6,238,958

Other Instruments

605,160

– 0

–

– 0

–

605,160

Corporates - Investment Grades

169,572

52,896,205

– 0

–

53,065,777

Mortgage Pass-Throughs

– 0

–

39,711,319

– 0

–

39,711,319

Governments - Treasuries

– 0

–

35,016,487

– 0

–

35,016,487

Asset-Backed Securities

– 0

–

17,972,623

2,499,049

20,471,672

Agencies

– 0

–

16,199,855

– 0

–

16,199,855

Commercial Mortgage-Backed Securities

– 0

–

9,847,566

1,569,563

11,417,129

Corporates - Non-Investment Grades

– 0

–

2,641,296

– 0

–

2,641,296

Quasi-Sovereigns

– 0

–

2,131,024

– 0

–

2,131,024

Governments - Sovereign Bonds

– 0

–

1,149,322

– 0

–

1,149,322

Local Governments - Municipal Bonds

– 0

–

619,055

– 0

–

619,055

Collateralized Mortgage Obligations

– 0

–

– 0

–

87,818

87,818

Options Purchased - Puts

– 0

–

16,504

– 0

–

16,504

Rights

9,911

– 0

–

– 0

–

9,911

Short-Term Investments:

Time Deposit

– 0

–

11,699,060

– 0

–

11,699,060

U.S. Treasury Bill

– 0

–

4,604,688

– 0

–

4,604,688

Governments - Treasuries

– 0

–

5,766,149

– 0

–

5,766,149

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

11,691,540

– 0

–

– 0

–

11,691,540

Total Investments in Securities

255,870,561

311,941,642+

4,156,430

571,968,633

Other Financial Instruments* :

Assets:

Futures Contracts

– 0

–

1,272

– 0

–

1,272

Forward Currency Exchange Contracts

– 0

–

516,881

– 0

–

516,881

Credit Default Swap Contracts

– 0

–

14,470

– 0

–

14,470

Liabilities:

Futures Contracts

(8,467

)

– 0

–

– 0

–

(8,467

)

Forward Currency Exchange Contracts

– 0

–

(606,137

)

– 0

–

(606,137

)

Put Options Written

– 0

–

(1,834

)

– 0

–

(1,834

)

Interest Rate Swap Contracts

– 0

–

(128,407

)

– 0

–

(128,407

)

Total^

$

255,862,094

$

311,737,887

$

4,156,430

$

571,756,411

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

^ There were de minimis transfers under 1% of net assets between Level 1 and Level 2 during the reporting period.

+ 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 the third party vendor modeling tools to the extent available.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

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

	Asset-Backed Securities			Commercial Mortgage-Backed Securities			Collateralized Mortgage Obligations
Balance as of 12/31/11	$	1,850,013		$	453,065		$	311,631
Accrued discounts/(premiums)		868			11,457			27
Realized gain (loss)		(109,961	)		66,661			(271,732	)
Change in unrealized appreciation/depreciation		177,627			38,534			315,658
Purchases		1,674,396			1,275,491			– 0	–
Sales		(1,093,894	)		(275,645	)		(267,766	)
Transfers in to Level 3		– 0	–		– 0	–		– 0	–
Transfers out of Level 3		– 0	–		– 0	–		– 0	–
Balance as of 9/30/12	$	2,499,049		$	1,569,563		$	87,818
Net change in unrealized appreciation/depreciation from Investments held as of 9/30/12	$	74,446		$	86,911		$	12,169
	Total
Balance as of 12/31/11	$	2,614,709
Accrued discounts/(premiums)		12,352
Realized gain (loss)		(315,032	)
Change in unrealized appreciation/depreciation		531,819
Purchases		2,949,887
Sales		(1,637,305	)
Transfers in to Level 3		– 0	–
Transfers out of Level 3		– 0	–
Balance as of 9/30/12	$	4,156,430
Net change in unrealized appreciation/depreciation from Investments held as of 9/30/12	$	173,526

AllianceBernstein Variable Products Series Fund

Dynamic Asset Allocation Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 31.3%
Financials - 5.8%
Capital Markets - 0.5%
Aberdeen Asset Management PLC		3,678	$	18,506
Ameriprise Financial, Inc.		495		28,061
Bank of New York Mellon Corp. (The)		2,815		63,675
BlackRock, Inc.-Class A		327		58,304
Charles Schwab Corp. (The)		2,640		33,766
Credit Suisse Group AG (a)		3,127		66,118
Daiwa Securities Group, Inc. (b)		4,000		15,193
Deutsche Bank AG (REG)		2,499		98,984
E*Trade Financial Corp. (a)		620		5,462
Federated Investors, Inc.-Class B (b)		210		4,345
Franklin Resources, Inc.		340		42,524
Goldman Sachs Group, Inc. (The)		1,088		123,684
Invesco Ltd.		1,030		25,740
Julius Baer Group Ltd. (a)		1,220		42,555
Legg Mason, Inc.		260		6,417
Macquarie Group Ltd.		890		26,097
Morgan Stanley		3,320		55,577
Nomura Holdings, Inc.		9,800		34,997
Northern Trust Corp.		510		23,672
Partners Group Holding AG		133		27,689
Schroders PLC		729		17,914
State Street Corp.		1,135		47,624
T Rowe Price Group, Inc.		625		39,562
UBS AG (a)		9,783		119,125
				1,025,591
Commercial Banks - 2.2%
Aozora Bank Ltd. (b)		6,000		18,348
Australia & New Zealand Banking Group Ltd.		7,203		184,077
Banco Bilbao Vizcaya Argentaria SA		12,732		100,174
Banco de Sabadell SA		5,579		14,991
Banco Espirito Santo SA (a)		5,403		3,917
Banco Popular Espanol SA (b)		2,820		6,174
Banco Santander SA (a)		25,164		187,834
Bank Leumi Le-Israel BM (a)		6,125		17,166
Bank of Yokohama Ltd. (The)		3,000		14,266
Barclays PLC		31,160		108,206
BB&T Corp.		1,700		56,372
BOC Hong Kong Holdings Ltd.		10,000		31,626
CaixaBank		2,117		7,973
Chiba Bank Ltd. (The)		2,000		11,626
Comerica, Inc.		450		13,973
Commerzbank AG (a)		11,674		20,884
Commonwealth Bank of Australia		4,251		244,764
Credit Agricole SA (a)		5,455		37,521
Danske Bank A/S (a)		1,753		31,592
DBS Group Holdings Ltd.		5,000		58,401
DnB ASA		2,627		32,181
Erste Group Bank AG (a)		578		12,918
Fifth Third Bancorp		2,190		33,967
First Horizon National Corp.		585		5,634
Fukuoka Financial Group, Inc.		4,000		16,241
Hang Seng Bank Ltd.		2,100		32,103

Company	Shares		U.S. $ Value
HSBC Holdings PLC		48,399	$	449,615
Huntington Bancshares, Inc./OH		2,065		14,248
Intesa Sanpaolo SpA		27,085		41,300
Joyo Bank Ltd. (The) (b)		3,000		14,672
KBC Groep NV		433		10,399
KeyCorp		2,275		19,883
Lloyds Banking Group PLC (a)		111,087		69,947
M&T Bank Corp.		315		29,975
Mitsubishi UFJ Financial Group, Inc. (b)		34,200		160,041
Mizrahi Tefahot Bank Ltd. (a)		973		8,639
Mizuho Financial Group, Inc. (b)		61,400		99,654
National Australia Bank Ltd.		6,018		158,224
Natixis		9,006		28,272
Nordea Bank AB		7,072		69,999
Oversea-Chinese Banking Corp., Ltd.		7,000		53,089
PNC Financial Services Group, Inc.		1,280		80,768
Raiffeisen Bank International AG (b)		176		6,382
Regions Financial Corp.		3,375		24,334
Resona Holdings, Inc.		5,100		20,882
Royal Bank of Scotland Group PLC (a)		5,577		23,171
Seven Bank Ltd.		5,324		16,245
Shinsei Bank Ltd.		12,000		15,501
Shizuoka Bank Ltd. (The)		1,000		10,233
Skandinaviska Enskilda Banken AB		4,967		41,620
Societe Generale SA (a)		1,878		53,219
Standard Chartered PLC		6,409		145,221
Sumitomo Mitsui Financial Group, Inc. (b)		3,600		112,169
Sumitomo Mitsui Trust Holdings, Inc. (b)		8,000		23,751
SunTrust Banks, Inc.		1,290		36,468
Svenska Handelsbanken AB		1,317		49,426
Swedbank AB		2,205		41,474
UniCredit SpA (a)		10,889		45,313
United Overseas Bank Ltd.		3,000		47,841
US Bancorp		4,565		156,579
Wells Fargo & Co.		11,875		410,044
Westpac Banking Corp.		8,210		210,511
Zions Bancorporation		430		8,882
				4,110,920
Consumer Finance - 0.2%
American Express Co.		2,410		137,032
Capital One Financial Corp.		1,413		80,555
Credit Saison Co., Ltd.		700		16,912
Discover Financial Services		1,260		50,060
SLM Corp.		1,100		17,292
				301,851
Diversified Financial Services - 0.7%
ASX Ltd.		744		22,733
Bank of America Corp.		26,095		230,419
Citigroup, Inc.		7,078		231,592
CME Group, Inc.-Class A		750		42,975
Deutsche Boerse AG		524		28,997
Eurazeo		427		19,544
Exor SpA		1,279		32,228
Groupe Bruxelles Lambert SA		217		16,117
Hong Kong Exchanges and Clearing Ltd.		2,800		42,031

Company	Shares		U.S. $ Value
ING Groep NV (a)		10,296	$	81,546
IntercontinentalExchange, Inc. (a)		200		26,682
Investor AB		1,705		37,573
JPMorgan Chase & Co.		9,215		373,023
Leucadia National Corp.		455		10,351
London Stock Exchange Group PLC		969		14,782
Mitsubishi UFJ Lease & Finance Co., Ltd.		350		14,735
Moody’s Corp.		445		19,656
NASDAQ OMX Group, Inc. (The)		260		6,057
NYSE Euronext		585		14,420
ORIX Corp.		280		28,045
Pohjola Bank PLC		371		4,891
Resolution Ltd.		3,866		13,566
Singapore Exchange Ltd.		3,000		17,051
Wendel SA		322		27,175
				1,356,189
Insurance - 1.3%
ACE Ltd.		835		63,126
Admiral Group PLC		819		13,958
Aegon NV		7,148		37,161
Aflac, Inc.		1,105		52,907
Ageas		627		15,063
AIA Group Ltd.		27,520		101,444
Allianz SE		1,224		145,978
Allstate Corp. (The)		1,150		45,551
American International Group, Inc. (a)		2,792		91,550
AON PLC		765		40,002
Assicurazioni Generali SpA		3,139		45,253
Assurant, Inc.		160		5,968
Aviva PLC		7,812		40,367
Berkshire Hathaway, Inc. (a)		4,430		390,726
Chubb Corp. (The)		660		50,345
Cincinnati Financial Corp.		360		13,640
CNP Assurances		2,026		26,441
Dai-ichi Life Insurance Co., Ltd. (The)		23		26,015
Genworth Financial, Inc.-Class A (a)		1,185		6,198
Hannover Rueckversicherung AG		173		11,071
Hartford Financial Services Group, Inc.		1,025		19,926
Insurance Australia Group Ltd.		6,220		28,053
Legal & General Group PLC		15,786		33,702
Lincoln National Corp.		640		15,482
Loews Corp.		740		30,532
Mapfre SA		3,353		9,194
Marsh & McLennan Cos., Inc.		1,290		43,770
MetLife, Inc.		2,570		88,562
MS&AD Insurance Group Holdings (b)		1,400		24,167
Muenchener Rueckversicherungs AG		482		75,367
NKSJ Holdings, Inc. (b)		1,000		19,502
Old Mutual PLC		13,083		35,993
Principal Financial Group, Inc.		640		17,242
Progressive Corp. (The)		1,345		27,895
Prudential Financial, Inc.		1,115		60,779
Prudential PLC		6,850		88,949
QBE Insurance Group Ltd.		3,112		41,562
RSA Insurance Group PLC (b)		9,493		16,971
Sampo Oyj		1,127		35,118
SCOR SE		935		24,101

Company	Shares		U.S. $ Value
Sony Financial Holdings, Inc.		875	$	14,919
Standard Life PLC		6,327		27,929
Suncorp Group Ltd.		3,459		32,993
Swiss Re AG (a)		947		60,934
T&D Holdings, Inc. (b)		1,550		16,736
Tokio Marine Holdings, Inc. (b)		1,900		48,348
Torchmark Corp.		235		12,067
Travelers Cos., Inc. (The)		930		63,482
Tryg AS		78		5,058
Unum Group		670		12,877
Vienna Insurance Group AG Wiener Versicherung Gruppe		71		3,015
XL Group PLC		710		17,061
Zurich Financial Services AG (a)		396		98,726
				2,373,776
Real Estate Investment Trusts (REITs) - 0.6%
American Tower Corp.		955		68,177
Apartment Investment & Management Co.-Class A		305		7,927
AvalonBay Communities, Inc.		225		30,598
Boston Properties, Inc.		390		43,138
British Land Co. PLC		2,299		19,418
Capital Shopping Centres Group PLC		2,951		15,631
CFS Retail Property Trust Group		11,279		22,505
Dexus Property Group		23,282		22,889
Equity Residential		730		41,997
Fonciere Des Regions		329		24,725
Gecina SA		253		25,891
Goodman Group		5,915		24,176
GPT Group		6,698		23,546
Hammerson PLC		2,197		16,036
HCP, Inc.		1,030		45,814
Health Care REIT, Inc.		565		32,629
Host Hotels & Resorts, Inc.		1,710		27,445
ICADE		296		24,109
Japan Real Estate Investment Corp.		2		20,127
Japan Retail Fund Investment Corp.		8		14,284
Kimco Realty Corp.		970		19,662
Klepierre		695		24,351
Land Securities Group PLC		2,095		25,819
Link REIT (The)		6,000		28,379
Mirvac Group		12,834		18,981
Nippon Building Fund, Inc.		2		21,558
Plum Creek Timber Co., Inc.		360		15,782
ProLogis, Inc.		1,090		38,183
Public Storage		340		47,318
Simon Property Group, Inc.		736		111,732
Stockland		6,911		23,841
Unibail-Rodamco SE		247		49,219
Ventas, Inc.		721		44,882
Vornado Realty Trust		395		32,015
Westfield Group		5,897		61,968
Westfield Retail Trust		7,800		23,290
Weyerhaeuser Co.		1,290		33,721
				1,171,763
Real Estate Management & Development - 0.3%
Aeon Mall Co., Ltd.		700		17,093

Company	Shares		U.S. $ Value
CapitaLand Ltd.		11,000	$	28,334
CBRE Group, Inc. (a)		715		13,163
Cheung Kong Holdings Ltd.		4,000		58,384
City Developments Ltd.		3,000		28,554
Daito Trust Construction Co., Ltd. (b)		200		20,077
Daiwa House Industry Co., Ltd.		1,000		14,490
Global Logistic Properties Ltd.		14,661		29,885
Hang Lung Group Ltd.		4,000		25,286
Hang Lung Properties Ltd.		7,000		23,834
Henderson Land Development Co., Ltd.		4,000		28,543
IMMOFINANZ AG (a)		2,501		9,083
Mitsubishi Estate Co., Ltd.		3,000		57,360
Mitsui Fudosan Co., Ltd.		2,000		39,965
Nomura Real Estate Holdings, Inc.		800		14,028
Sino Land Co., Ltd.		16,000		29,796
Sumitomo Realty & Development Co., Ltd.		1,000		26,498
Sun Hung Kai Properties Ltd.		4,000		58,202
Swire Pacific Ltd.		2,000		24,405
Wharf Holdings Ltd.		4,000		27,505
Wheelock & Co., Ltd.		6,000		25,777
				600,262
Thrifts & Mortgage Finance - 0.0%
Hudson City Bancorp, Inc.		1,130		8,995
People’s United Financial, Inc.		815		9,894
				18,889
				10,959,241
Information Technology - 4.0%
Communications Equipment - 0.4%
Cisco Systems, Inc.		12,810		244,543
F5 Networks, Inc. (a)		190		19,893
Harris Corp.		275		14,085
JDS Uniphase Corp. (a)		560		6,936
Juniper Networks, Inc. (a)		1,270		21,730
Motorola Solutions, Inc.		695		35,132
Nokia Oyj (b)		10,067		26,126
QUALCOMM, Inc.		4,130		258,084
Telefonaktiebolaget LM Ericsson-Class B		8,096		73,844
				700,373
Computers & Peripherals - 1.0%
Apple, Inc.		2,273		1,516,682
Dell, Inc.		3,530		34,806
EMC Corp./MA (a)		5,075		138,395
Fujitsu Ltd.		5,000		18,771
Gemalto NV		323		28,408
Hewlett-Packard Co.		4,760		81,206
NEC Corp. (a)(b)		9,000		14,282
NetApp, Inc. (a)		880		28,934
SanDisk Corp. (a)		580		25,189
Seagate Technology PLC		850		26,350
Toshiba Corp.		11,000		35,255
Western Digital Corp.		540		20,914
				1,969,192

Company	Shares		U.S. $ Value
Electronic Equipment, Instruments & Components - 0.2%
Amphenol Corp.-Class A		395	$	23,258
Corning, Inc.		3,605		47,406
FLIR Systems, Inc.		360		7,191
Fujifilm Holdings Corp.		1,200		20,098
Hexagon AB		938		20,172
Hirose Electric Co., Ltd.		100		11,195
Hitachi High-Technologies Corp.		600		14,485
Hitachi Ltd. (b)		12,000		66,637
Hoya Corp. (b)		1,200		26,326
Jabil Circuit, Inc.		445		8,330
Keyence Corp.		100		25,608
Kyocera Corp.		400		34,660
Molex, Inc. (b)		325		8,541
Murata Manufacturing Co., Ltd.		500		26,618
Omron Corp.		700		13,452
TDK Corp. (b)		300		11,156
TE Connectivity Ltd.		1,030		35,030
				400,163
Internet Software & Services - 0.4%
Akamai Technologies, Inc. (a)(b)		425		16,261
Dena Co., Ltd. (b)		529		17,548
eBay, Inc. (a)		2,805		135,790
Google, Inc.-Class A (a)		647		488,162
VeriSign, Inc. (a)		375		18,259
Yahoo! Japan Corp.		43		16,359
Yahoo!, Inc. (a)		2,525		40,337
				732,716
IT Services - 0.7%
Accenture PLC		1,535		107,496
Amadeus IT Holding SA		842		19,630
Automatic Data Processing, Inc.		1,170		68,632
Cap Gemini SA		638		26,961
Cognizant Technology Solutions Corp.-Class A (a)		725		50,692
Computer Sciences Corp.		370		11,918
Computershare Ltd.		1,449		12,432
Fidelity National Information Services, Inc.		600		18,732
Fiserv, Inc. (a)		330		24,430
International Business Machines Corp.		2,605		540,407
Mastercard, Inc.-Class A		265		119,642
Nomura Research Institute Ltd. (b)		600		12,365
NTT Data Corp.		5		15,699
Paychex, Inc.		775		25,800
SAIC, Inc.		685		8,248
Teradata Corp. (a)		405		30,541
Total System Services, Inc.		390		9,243
Visa, Inc.-Class A		1,265		169,864
Western Union Co. (The)-Class W		1,450		26,419
				1,299,151
Office Electronics - 0.1%
Canon, Inc.		3,000		96,293
Konica Minolta Holdings, Inc.		2,000		15,385

Company	Shares		U.S. $ Value
Ricoh Co., Ltd. (b)		2,000	$	16,890
Xerox Corp.		3,165		23,231
				151,799
Semiconductors & Semiconductor Equipment - 0.4%
Advanced Micro Devices, Inc. (a)		1,455		4,903
Altera Corp.		760		25,829
Analog Devices, Inc.		730		28,609
Applied Materials, Inc.		2,985		33,327
ARM Holdings PLC		3,698		34,516
ASM Pacific Technology Ltd. (b)		900		10,636
ASML Holding NV		1,129		60,388
Broadcom Corp.-Class A (a)		1,220		42,188
Infineon Technologies AG		3,026		19,234
Intel Corp.		12,090		274,201
KLA-Tencor Corp.		410		19,559
Lam Research Corp. (a)		429		13,636
Linear Technology Corp.		540		17,199
LSI Corp. (a)		1,320		9,121
Mellanox Technologies Ltd. (a)		100		10,371
Microchip Technology, Inc. (b)		445		14,569
Micron Technology, Inc. (a)		2,420		14,484
NVIDIA Corp. (a)		1,485		19,810
Rohm Co., Ltd. (b)		400		13,470
Teradyne, Inc. (a)		430		6,115
Texas Instruments, Inc.		2,725		75,074
Tokyo Electron Ltd.		500		21,300
Xilinx, Inc.		635		21,215
				789,754
Software - 0.8%
Adobe Systems, Inc. (a)		1,190		38,627
Autodesk, Inc. (a)		545		18,187
BMC Software, Inc. (a)		355		14,729
CA, Inc.		825		21,256
Citrix Systems, Inc. (a)		450		34,456
Dassault Systemes SA		243		25,530
Electronic Arts, Inc. (a)		765		9,708
Intuit, Inc.		670		39,450
Microsoft Corp.		18,280		544,378
Nexon Co., Ltd. (a)		735		10,148
NICE Systems Ltd. (a)		208		6,915
Nintendo Co., Ltd.		300		38,107
Oracle Corp.		9,220		290,338
Oracle Corp. Japan (b)		300		15,450
Red Hat, Inc. (a)		470		26,762
Sage Group PLC (The)		3,508		17,775
Salesforce.com, Inc. (a)		311		47,487
SAP AG		2,473		175,987
Symantec Corp. (a)		1,695		30,510

Company	Shares		U.S. $ Value
Trend Micro, Inc.		500	$	13,941
				1,419,741
				7,462,889
Consumer Staples - 3.6%
Beverages - 0.8%
Anheuser-Busch InBev NV		2,159		184,700
Asahi Group Holdings Ltd.		1,000		24,661
Beam, Inc.		400		23,016
Brown-Forman Corp.-Class B		352		22,968
Carlsberg A/S		288		25,514
Coca Cola Hellenic Bottling Co. SA (a)		542		10,113
Coca-Cola Amatil Ltd.		1,634		22,940
Coca-Cola Co. (The)		9,380		355,783
Coca-Cola Enterprises, Inc.		650		20,325
Constellation Brands, Inc.-Class A (a)		320		10,352
Diageo PLC		6,728		189,448
Dr Pepper Snapple Group, Inc.		520		23,156
Heineken NV		784		46,734
Kirin Holdings Co., Ltd. (b)		2,000		26,743
Molson Coors Brewing Co.-Class B		350		15,768
Monster Beverage Corp. (a)		360		19,498
PepsiCo, Inc.		3,775		267,157
Pernod-Ricard SA		569		63,825
SABMiller PLC		2,567		112,948
				1,465,649
Food & Staples Retailing - 0.7%
Aeon Co., Ltd.		1,600		18,067
Carrefour SA		1,552		32,194
Casino Guichard Perrachon SA		225		19,903
Colruyt SA		204		8,888
Costco Wholesale Corp.		1,065		106,633
CVS Caremark Corp.		3,080		149,134
Delhaize Group SA		274		10,582
Distribuidora Internacional de Alimentacion SA		1,644		9,079
FamilyMart Co., Ltd.		300		14,739
J Sainsbury PLC		3,281		18,439
Jeronimo Martins SGPS SA		592		9,883
Kesko Oyj		171		4,847
Kroger Co. (The)		1,315		30,955
Lawson, Inc.		200		15,353
Metro AG		441		13,212
Safeway, Inc. (b)		545		8,769
Seven & I Holdings Co., Ltd.		2,000		61,287
Sysco Corp. (b)		1,405		43,934
Tesco PLC		21,592		115,949
Wal-Mart Stores, Inc.		4,063		299,849
Walgreen Co.		2,045		74,520
Wesfarmers Ltd.		2,706		95,772
Whole Foods Market, Inc.		410		39,934
WM Morrison Supermarkets PLC		6,401		29,513
Woolworths Ltd.		3,298		98,204
				1,329,639
Food Products - 0.9%
Ajinomoto Co., Inc.		2,000		31,327

Company	Shares		U.S. $ Value
Archer-Daniels-Midland Co.		1,565	$	42,537
Associated British Foods PLC		958		19,962
Campbell Soup Co.		425		14,798
ConAgra Foods, Inc.		935		25,797
Danone SA		1,554		95,616
DE Master Blenders 1753 NV (a)		1,580		19,053
Dean Foods Co. (a)		430		7,030
General Mills, Inc.		1,585		63,162
Hershey Co. (The)		350		24,811
HJ Heinz Co.		765		42,802
Hormel Foods Corp.		325		9,503
JM Smucker Co. (The)		295		25,467
Kellogg Co.		615		31,771
Kerry Group PLC		401		20,535
Kraft Foods, Inc.-Class A		4,285		177,185
Lindt & Spruengli AG (a)		1		36,113
McCormick & Co., Inc./MD		325		20,163
Mead Johnson Nutrition Co.-Class A		510		37,373
MEIJI Holdings Co., Ltd.		300		14,888
Nestle SA		8,871		559,736
Nissin Foods Holdings Co., Ltd. (b)		400		15,669
Tate & Lyle PLC		1,256		13,509
Tyson Foods, Inc.-Class A		675		10,813
Unilever NV		4,379		155,306
Unilever PLC		3,450		125,966
Wilmar International Ltd.		9,000		23,764
Yakult Honsha Co., Ltd. (b)		400		18,967
				1,683,623
Household Products - 0.5%
Clorox Co. (The)		320		23,056
Colgate-Palmolive Co.		1,075		115,262
Henkel AG & Co. KGaA		366		23,888
Henkel AG & Co. KGaA (Preference Shares)		479		38,156
Kimberly-Clark Corp.		965		82,778
Procter & Gamble Co. (The)		6,665		462,284
Reckitt Benckiser Group PLC		1,773		102,150
Svenska Cellulosa AB-Class B		2,115		39,322
Unicharm Corp. (b)		300		17,201
				904,097
Personal Products - 0.1%
Avon Products, Inc.		1,005		16,030
Beiersdorf AG		310		22,768
Estee Lauder Cos., Inc. (The)-Class A		590		36,326
Kao Corp. (b)		1,400		41,162
L’Oreal SA		646		79,872
Shiseido Co., Ltd. (b)		1,000		13,707
				209,865
Tobacco - 0.6%
Altria Group, Inc.		4,910		163,945
British American Tobacco PLC		5,292		271,921
Imperial Tobacco Group PLC		2,690		99,655
Japan Tobacco, Inc.		2,419		72,410
Lorillard, Inc.		330		38,428
Philip Morris International, Inc.		4,100		368,754

Company	Shares		U.S. $ Value
Reynolds American, Inc.		785	$	34,022
Swedish Match AB		573		23,196
				1,072,331
				6,665,204
Health Care - 3.5%
Biotechnology - 0.3%
Alexion Pharmaceuticals, Inc. (a)		460		52,624
Amgen, Inc.		1,873		157,931
Biogen Idec, Inc. (a)		565		84,315
Celgene Corp. (a)		1,030		78,692
CSL Ltd.		1,396		66,399
Gilead Sciences, Inc. (a)		1,825		121,052
Grifols S.A. (a)		401		13,255
				574,268
Health Care Equipment & Supplies - 0.4%
Baxter International, Inc.		1,330		80,146
Becton Dickinson and Co.		480		37,709
Boston Scientific Corp. (a)		3,410		19,573
CareFusion Corp. (a)		490		13,911
Cie Generale d’Optique Essilor International SA		547		51,186
Coloplast A/S		61		12,711
Covidien PLC		1,175		69,819
CR Bard, Inc.		215		22,500
DENTSPLY International, Inc.		330		12,586
Edwards Lifesciences Corp. (a)		295		31,674
Fresenius SE & Co. KGaA		333		38,667
Getinge AB		997		30,098
Intuitive Surgical, Inc. (a)		105		52,041
Medtronic, Inc.		2,460		106,075
Olympus Corp. (a)(b)		900		17,571
Smith & Nephew PLC		2,408		26,564
Sonova Holding AG (a)		351		35,514
St. Jude Medical, Inc.		765		32,229
Stryker Corp.		675		37,571
Sysmex Corp.		200		9,617
Terumo Corp.		400		17,198
Varian Medical Systems, Inc. (a)		245		14,778
William Demant Holding AS (a)		70		6,272
Zimmer Holdings, Inc.		435		29,415
				805,425
Health Care Providers & Services - 0.4%
Aetna, Inc.		820		32,472
AmerisourceBergen Corp.-Class A		585		22,645
Cardinal Health, Inc.		795		30,981
CIGNA Corp.		715		33,727
Coventry Health Care, Inc.		330		13,758
DaVita, Inc. (a)		225		23,312
Express Scripts Holding Co. (a)		1,989		124,651
Fresenius Medical Care AG & Co. KGaA		564		41,370
Humana, Inc.		415		29,112
Laboratory Corp. of America Holdings (a)		225		20,806

Company	Shares		U.S. $ Value
McKesson Corp.		565	$	48,607
Patterson Cos., Inc.		210		7,190
Quest Diagnostics, Inc.		400		25,372
Ramsay Health Care Ltd.		490		12,181
Sonic Healthcare Ltd.		1,715		24,024
Tenet Healthcare Corp. (a)		975		6,113
UnitedHealth Group, Inc.		2,485		137,694
WellPoint, Inc.		800		46,408
				680,423
Health Care Technology - 0.0%
Cerner Corp. (a)		340		26,319
Life Sciences Tools & Services - 0.1%
Agilent Technologies, Inc.		845		32,490
Life Technologies Corp. (a)		425		20,774
PerkinElmer, Inc.		245		7,220
QIAGEN NV (a)		667		12,298
Thermo Fisher Scientific, Inc.		885		52,065
Waters Corp. (a)		215		17,916
				142,763
Pharmaceuticals - 2.3%
Abbott Laboratories		3,815		261,556
Allergan, Inc./United States		750		68,685
Astellas Pharma, Inc. (b)		1,200		60,816
AstraZeneca PLC		3,432		163,861
Bayer AG		2,223		191,155
Bristol-Myers Squibb Co.		4,045		136,519
Chugai Pharmaceutical Co., Ltd.		700		14,672
Daiichi Sankyo Co., Ltd. (b)		1,800		29,650
Dainippon Sumitomo Pharma Co., Ltd.		1,400		15,382
Eisai Co., Ltd. (b)		700		31,534
Elan Corp. PLC (a)		1,351		14,514
Eli Lilly & Co.		2,465		116,866
Forest Laboratories, Inc. (a)		545		19,408
GlaxoSmithKline PLC		13,572		313,277
Hisamitsu Pharmaceutical Co., Inc.		300		16,604
Hospira, Inc. (a)		360		11,815
Johnson & Johnson		6,685		460,663
Kyowa Hakko Kirin Co., Ltd.		1,000		12,076
Merck & Co., Inc.		7,395		333,515
Merck KGaA		204		25,182
Mitsubishi Tanabe Pharma Corp.		1,000		15,176
Mylan, Inc./PA (a)		945		23,058
Novartis AG		6,183		378,421
Novo Nordisk A/S-Class B		1,095		172,324
Ono Pharmaceutical Co., Ltd.		200		12,306
Orion Oyj		259		5,544
Otsuka Holdings Co., Ltd. (b)		975		30,216
Perrigo Co.		220		25,557
Pfizer, Inc.		18,050		448,543
Roche Holding AG		1,889		353,331
Sanofi		3,244		277,610
Shionogi & Co., Ltd.		1,000		15,239
Shire PLC		1,512		44,602
Taisho Pharmaceutical Holdings Co., Ltd. (b)		172		13,990

Company	Shares		U.S. $ Value
Takeda Pharmaceutical Co., Ltd. (b)		2,100	$	96,616
Teva Pharmaceutical Industries Ltd.		2,533		104,559
UCB SA		296		16,289
Watson Pharmaceuticals, Inc. (a)		315		26,825
				4,357,956
				6,587,154
Industrials - 3.5%
Aerospace & Defense - 0.5%
BAE Systems PLC		8,702		45,753
Boeing Co. (The)		1,660		115,569
Cobham PLC		3,228		11,579
European Aeronautic Defence and Space Co. NV		1,104		34,991
General Dynamics Corp.		810		53,557
Honeywell International, Inc.		1,905		113,824
L-3 Communications Holdings, Inc.		225		16,135
Lockheed Martin Corp.		650		60,697
Meggitt PLC		2,537		16,191
Northrop Grumman Corp.		590		39,194
Precision Castparts Corp.		390		63,703
Raytheon Co.		800		45,728
Rockwell Collins, Inc.		350		18,774
Rolls-Royce Holdings PLC (a)		5,033		68,659
Safran SA		629		22,625
Singapore Technologies Engineering Ltd.		6,000		17,264
Textron, Inc.		655		17,141
Thales SA		694		23,823
United Technologies Corp.		2,025		158,537
Zodiac Aerospace		227		22,162
				965,906
Air Freight & Logistics - 0.2%
CH Robinson Worldwide, Inc.		415		24,298
Deutsche Post AG		2,275		44,444
Expeditors International of Washington, Inc.		520		18,907
FedEx Corp.		715		60,503
Kuehne & Nagel International AG		432		48,887
United Parcel Service, Inc.-Class B		1,755		125,605
Yamato Holdings Co., Ltd.		1,000		15,816
				338,460
Airlines - 0.1%
All Nippon Airways Co., Ltd. (b)		5,000		10,510
Deutsche Lufthansa (REG)		1,092		14,819
International Consolidated Airlines Group SA (a)		2,643		6,364
Singapore Airlines Ltd.		3,000		26,101
Southwest Airlines Co.		1,755		15,391
				73,185
Building Products - 0.1%
Asahi Glass Co., Ltd.		3,000		19,957
Assa Abloy AB		1,164		37,792
Cie de St-Gobain		1,080		37,802
Daikin Industries Ltd. (b)		600		15,519
LIXIL Group Corp.		700		16,681

Company	Shares		U.S. $ Value
Masco Corp.		855	$	12,868
				140,619
Commercial Services & Supplies - 0.2%
Aggreko PLC		718		26,878
Avery Dennison Corp.		235		7,478
Babcock International Group PLC		1,121		16,808
Brambles Ltd.		4,179		30,282
Cintas Corp.		235		9,741
Dai Nippon Printing Co., Ltd.		2,000		13,946
Edenred		818		22,969
G4S PLC		3,792		16,288
Iron Mountain, Inc.		335		11,427
Pitney Bowes, Inc. (b)		455		6,288
Republic Services, Inc.-Class A		700		19,257
RR Donnelley & Sons Co. (b)		435		4,611
Secom Co., Ltd.		600		31,273
Serco Group PLC		1,802		16,899
Societe BIC SA		221		26,693
Stericycle, Inc. (a)		210		19,009
Toppan Printing Co., Ltd. (b)		2,000		11,600
Waste Management, Inc.		1,045		33,524
				324,971
Construction & Engineering - 0.1%
ACS Actividades de Construccion y Servicios SA		381		7,853
Bouygues SA		871		21,180
Chiyoda Corp.		1,000		15,536
Ferrovial SA		1,084		14,122
Fluor Corp.		415		23,356
Jacobs Engineering Group, Inc. (a)		315		12,735
JGC Corp.		1,000		33,304
Leighton Holdings Ltd.		1,344		22,996
Obayashi Corp.		3,000		13,672
Quanta Services, Inc. (a)		515		12,721
Taisei Corp. (b)		5,000		14,327
Vinci SA		1,219		51,866
				243,668
Electrical Equipment - 0.2%
ABB Ltd. (REG) (a)		5,911		110,909
Alstom SA		729		25,521
Cooper Industries PLC		400		30,024
Emerson Electric Co.		1,750		84,473
First Solar, Inc. (a)(b)		120		2,657
Legrand SA		689		25,971
Mitsubishi Electric Corp.		5,000		36,854
Nidec Corp.		300		21,914
Rockwell Automation, Inc.		330		22,952
Roper Industries, Inc.		225		24,725
Sumitomo Electric Industries Ltd.		2,000		21,151
				407,151
Industrial Conglomerates - 0.7%
3M Co.		1,555		143,713
Danaher Corp.		1,390		76,658

Company	Shares		U.S. $ Value
Fraser and Neave Ltd.		4,000	$	28,828
General Electric Co.		25,570		580,695
Hutchison Whampoa Ltd.		6,000		57,747
Keppel Corp., Ltd.		4,000		36,983
Koninklijke Philips Electronics NV		3,341		78,004
Orkla ASA		2,074		15,802
Siemens AG		2,212		221,245
Smiths Group PLC		1,055		17,722
Tyco International Ltd.		1,095		61,605
				1,319,002
Machinery - 0.7%
Alfa Laval AB		1,184		21,514
Andritz AG		196		11,113
Atlas Copco AB		1,715		35,949
Atlas Copco AB-Class A		1,805		42,176
Caterpillar, Inc.		1,585		136,373
Cummins, Inc.		450		41,495
Deere & Co.		935		77,128
Dover Corp.		435		25,878
Eaton Corp. (b)		835		39,462
FANUC Corp.		500		80,479
Fiat Industrial SpA		2,876		28,165
Flowserve Corp.		120		15,329
Hino Motors Ltd. (b)		2,000		13,093
Hitachi Construction Machinery Co., Ltd. (b)		700		11,305
IHI Corp.		6,000		13,363
Illinois Tool Works, Inc.		1,025		60,957
IMI PLC		1,172		17,073
Ingersoll-Rand PLC		705		31,598
Joy Global, Inc.		235		13,174
JTEKT Corp.		1,400		11,066
Kawasaki Heavy Industries Ltd. (b)		5,000		9,917
Komatsu Ltd.		2,500		49,000
Kone Oyj		419		29,040
Kubota Corp.		3,000		30,277
Makita Corp.		400		15,484
MAN SE		201		18,436
Metso Oyj (a)		344		12,322
Mitsubishi Heavy Industries Ltd.		8,000		34,597
NGK Insulators Ltd.		1,000		11,965
NSK Ltd.		2,000		11,616
PACCAR, Inc.		860		34,422
Pall Corp.		295		18,730
Parker Hannifin Corp.		395		33,014
Pentair, Inc.		248		11,038
Sandvik AB		2,698		36,695
SembCorp Marine Ltd.		7,000		28,156
SKF AB		1,658		35,829
SMC Corp./Japan		100		16,093
Snap-On, Inc.		170		12,218
Stanley Black & Decker, Inc.		415		31,644
Volvo AB-Class B		3,741		52,559
Wartsila Oyj Abp		451		15,650
Weir Group PLC (The)		651		18,636
Xylem, Inc./NY		435		10,940
Zardoya Otis SA		378		4,447
				1,309,415

Company	Shares		U.S. $ Value
Marine - 0.0%
AP Moeller - Maersk A/S		4	$	28,597
AP Moeller - Maersk A/S (Line of “A” Shares)		1		6,761
Mitsui OSK Lines Ltd. (b)		4,000		9,306
Nippon Yusen KK		5,000		8,832
				53,496
Professional Services - 0.1%
Adecco SA (a)		507		24,201
Bureau Veritas SA		256		26,280
Capita PLC		1,758		22,018
Dun & Bradstreet Corp. (The)		115		9,156
Equifax, Inc.		305		14,207
Experian PLC		2,702		44,990
Intertek Group PLC		431		19,108
Robert Half International, Inc.		335		8,921
SGS SA		24		49,355
				218,236
Road & Rail - 0.3%
Central Japan Railway Co.		400		35,111
CSX Corp.		2,510		52,083
DSV A/S		511		11,472
East Japan Railway Co.		900		59,549
Hankyu Hanshin Holdings, Inc. (b)		3,000		16,202
Keikyu Corp. (b)		2,000		18,841
Keio Corp. (b)		2,000		15,070
Kintetsu Corp. (b)		4,000		15,664
MTR Corp., Ltd		7,000		26,463
Nippon Express Co., Ltd. (b)		3,000		11,363
Norfolk Southern Corp.		790		50,268
Odakyu Electric Railway Co., Ltd. (b)		2,000		21,019
QR National Ltd.		6,403		22,542
Ryder System, Inc.		115		4,492
Tobu Railway Co., Ltd. (b)		3,000		16,142
Tokyu Corp. (b)		3,000		14,330
Union Pacific Corp.		1,175		139,472
West Japan Railway Co.		457		19,516
				549,599
Trading Companies & Distributors - 0.2%
Brenntag AG		189		24,218
Bunzl PLC		916		16,427
Fastenal Co.		630		27,084
ITOCHU Corp. (b)		4,000		40,381
Marubeni Corp. (b)		4,000		25,430
Mitsubishi Corp. (b)		3,800		68,829
Mitsui & Co., Ltd. (b)		4,700		65,939
Sumitomo Corp. (b)		3,000		40,358
Toyota Tsusho Corp. (b)		700		14,953
Wolseley PLC		766		32,766
WW Grainger, Inc.		180		37,507
				393,892

Company	Shares		U.S. $ Value
Transportation Infrastructure - 0.1%
Abertis Infraestructuras SA		986	$	14,532
Aeroports de Paris		305		24,320
Atlantia SpA		1,440		22,399
Auckland International Airport Ltd.		2,491		5,405
Koninklijke Vopak NV		502		35,224
Sydney Airport		3,846		12,588
Transurban Group		3,826		23,722
				138,190
				6,475,790
Consumer Discretionary - 3.3%
Auto Components - 0.2%
Aisin Seiki Co., Ltd.		500		14,240
BorgWarner, Inc. (a)		290		20,042
Bridgestone Corp.		1,700		39,427
Cie Generale des Etablissements Michelin-Class B		484		37,898
Continental AG		255		25,009
Denso Corp.		1,300		40,847
GKN PLC		4,227		14,697
Goodyear Tire & Rubber Co. (The) (a)		560		6,826
Johnson Controls, Inc.		1,630		44,662
NOK Corp.		700		11,221
Nokian Renkaat OYJ		298		12,165
Toyota Industries Corp. (b)		500		13,996
				281,030
Automobiles - 0.5%
Bayerische Motoren Werke AG		890		65,263
Daihatsu Motor Co., Ltd.		1,000		16,662
Daimler AG		2,436		118,233
Fiat SpA (a)		1,624		8,686
Ford Motor Co.		9,220		90,909
Fuji Heavy Industries Ltd. (b)		2,000		16,663
Harley-Davidson, Inc.		550		23,304
Honda Motor Co., Ltd.		4,400		135,983
Isuzu Motors Ltd.		3,000		14,456
Mazda Motor Corp. (a)		11,000		12,839
Mitsubishi Motors Corp. (a)		14,000		12,913
Nissan Motor Co., Ltd.		6,700		57,022
Porsche Automobil Holding SE (Preference Shares)		412		24,689
Renault SA		588		27,551
Suzuki Motor Corp.		1,000		19,423
Toyota Motor Corp.		7,400		290,149
Volkswagen AG		140		23,467
Volkswagen AG (Preference Shares)		389		71,127
				1,029,339
Distributors - 0.0%
Genuine Parts Co.		380		23,191
Li & Fung Ltd.		16,000		24,673
				47,864

Company	Shares		U.S. $ Value
Diversified Consumer Services - 0.0%
Apollo Group, Inc.-Class A (a)		245	$	7,117
Benesse Holdings, Inc.		300		14,517
Gree, Inc. (b)		682		12,451
H&R Block, Inc.		620		10,745
				44,830
Hotels, Restaurants & Leisure - 0.5%
Accor SA		750		24,969
Carnival Corp.		1,085		39,538
Carnival PLC		487		17,939
Chipotle Mexican Grill, Inc.-Class A (a)		94		29,849
Compass Group PLC		5,090		56,266
Crown Ltd.		2,537		23,858
Darden Restaurants, Inc.		320		17,840
Galaxy Entertainment Group Ltd. (a)(b)		8,911		29,720
Genting Singapore PLC (b)		22,000		24,459
Intercontinental Hotels Group PLC		782		20,535
International Game Technology		630		8,247
Marriott International, Inc./DE-Class A		595		23,265
McDonald’s Corp.		2,430		222,953
McDonald’s Holdings Co. Japan Ltd. (b)		500		14,244
OPAP SA		600		3,079
Oriental Land Co., Ltd./Japan		100		13,167
Sands China Ltd.		7,700		28,459
Sky City Entertainment Group Ltd.		1,551		4,853
Sodexo		292		21,985
Starbucks Corp.		1,860		94,395
Starwood Hotels & Resorts Worldwide, Inc.		495		28,690
Tatts Group Ltd.		6,512		18,233
Whitbread PLC		478		17,532
Wyndham Worldwide Corp.		350		18,368
Wynn Macau Ltd.		10,107		27,161
Wynn Resorts Ltd.		210		24,242
Yum! Brands, Inc.		1,095		72,642
				926,488
Household Durables - 0.1%
DR Horton, Inc.		655		13,519
Electrolux AB		1,181		29,182
Harman International Industries, Inc.		140		6,462
Leggett & Platt, Inc.		325		8,141
Lennar Corp.-Class A		400		13,908
Newell Rubbermaid, Inc.		675		12,886
Panasonic Corp. (b)		5,900		39,037
PulteGroup Inc (a)		785		12,168
Rinnai Corp. (b)		200		14,927
Sekisui Chemical Co., Ltd.		2,000		16,108
Sekisui House Ltd.		2,000		19,855
Sharp Corp./Japan (b)		3,000		7,419
Sony Corp. (b)		2,700		31,572
Whirlpool Corp.		200		16,582
				241,766
Internet & Catalog Retail - 0.2%
Amazon.com, Inc. (a)		880		223,801

Company	Shares		U.S. $ Value
Expedia, Inc.		232	$	13,419
NetFlix, Inc. (a)(b)		136		7,404
priceline.com, Inc. (a)		127		78,579
Rakuten, Inc.		1,951		19,838
TripAdvisor, Inc. (a)		262		8,627
				351,668
Leisure Equipment & Products - 0.1%
Hasbro, Inc.		250		9,542
Mattel, Inc.		835		29,626
Nikon Corp. (b)		900		24,748
Sankyo Co., Ltd. (b)		300		13,957
Sega Sammy Holdings, Inc.		700		13,209
Shimano, Inc.		200		14,521
				105,603
Media - 0.7%
British Sky Broadcasting Group PLC		3,006		36,080
Cablevision Systems Corp.		480		7,608
CBS Corp.-Class B		1,440		52,315
Comcast Corp.-Class A		6,470		231,432
Dentsu, Inc. (b)		500		12,664
DIRECTV (a)		1,515		79,477
Discovery Communications, Inc.-Class A (a)		595		35,480
Gannett Co., Inc.		550		9,763
Interpublic Group of Cos., Inc. (The)		1,045		11,620
ITV PLC		12,555		17,948
Jupiter Telecommunications Co., Ltd. (b)		13		13,193
Kabel Deutschland Holding AG (a)		164		11,707
McGraw-Hill Cos., Inc. (The)		660		36,029
News Corp.-Class A		4,885		119,829
Omnicom Group, Inc.		660		34,030
Pearson PLC		2,193		42,870
Publicis Groupe SA		494		27,631
Reed Elsevier NV		2,970		39,613
Reed Elsevier PLC		3,272		31,324
Scripps Networks Interactive, Inc.-Class A		220		13,471
SES SA (FDR)		971		26,405
Time Warner Cable, Inc.-Class A		765		72,721
Time Warner, Inc.		2,295		104,032
Viacom, Inc.-Class B		1,160		62,164
Walt Disney Co. (The)		4,325		226,111
Washington Post Co. (The)-Class B (b)		11		3,993
WPP PLC		3,388		46,147
				1,405,657
Multiline Retail - 0.2%
Big Lots, Inc. (a)		140		4,141
Dollar Tree, Inc. (a)		560		27,034
Family Dollar Stores, Inc.		235		15,581
Isetan Mitsukoshi Holdings Ltd.		1,300		13,545
JC Penney Co., Inc. (b)		340		8,259
Kohl’s Corp.		520		26,634
Macy’s, Inc.		975		36,679
Marks & Spencer Group PLC		4,312		24,885
Next PLC		452		25,217

Company	Shares		U.S. $ Value
Nordstrom, Inc.		370	$	20,417
PPR		205		31,463
Target Corp.		1,585		100,600
				334,455
Specialty Retail - 0.5%
Abercrombie & Fitch Co.-Class A		200		6,784
AutoNation, Inc. (a)		95		4,149
AutoZone, Inc. (a)		95		35,119
Bed Bath & Beyond, Inc. (a)		565		35,595
Best Buy Co., Inc.		640		11,002
CarMax, Inc. (a)		550		15,565
Fast Retailing Co., Ltd.		100		23,224
GameStop Corp.-Class A (b)		295		6,195
Gap, Inc. (The)		715		25,583
Hennes & Mauritz AB-Class B		2,552		88,818
Home Depot, Inc. (The)		3,650		220,350
Inditex SA		586		72,812
Kingfisher PLC		6,368		27,223
Limited Brands, Inc.		575		28,324
Lowe’s Cos., Inc.		2,760		83,462
Nitori Holdings Co., Ltd.		150		13,922
O’Reilly Automotive, Inc. (a)		290		24,250
Ross Stores, Inc.		540		34,884
Shimamura Co., Ltd.		100		11,642
Staples, Inc. (b)		1,645		18,950
Tiffany & Co.		285		17,636
TJX Cos., Inc.		1,780		79,726
Urban Outfitters, Inc. (a)		265		9,953
USS Co., Ltd.		100		10,561
Yamada Denki Co., Ltd.		270		11,844
				917,573
Textiles, Apparel & Luxury Goods - 0.3%
Adidas AG		562		46,118
Burberry Group PLC		1,179		19,090
Christian Dior SA		166		22,236
Cie Financiere Richemont SA		1,403		84,241
Coach, Inc.		680		38,094
Fossil, Inc. (a)		119		10,079
Hugo Boss AG		198		17,439
Luxottica Group SpA		759		26,773
LVMH Moet Hennessy Louis Vuitton SA		683		102,531
NIKE, Inc.-Class B		880		83,521
Ralph Lauren Corp.		140		21,172
Swatch Group AG (The) (SWX Exchange)		103		41,134
VF Corp.		215		34,262
				546,690
				6,232,963
Energy - 3.1%
Energy Equipment & Services - 0.5%
AMEC PLC		891		16,535
Baker Hughes, Inc.		1,060		47,944
Cameron International Corp. (a)		620		34,763
Cie Generale de Geophysique-Veritas (a)		470		15,094

Company	Shares		U.S. $ Value
Diamond Offshore Drilling, Inc.		190	$	12,504
Ensco PLC		550		30,008
FMC Technologies, Inc. (a)		560		25,928
Fugro NV		538		36,565
Halliburton Co.		2,240		75,466
Helmerich & Payne, Inc.		235		11,188
Nabors Industries Ltd. (a)		665		9,330
National Oilwell Varco, Inc.		1,055		84,516
Noble Corp. (a)		575		20,573
Petrofac Ltd.		697		18,008
Rowan Cos. PLC (a)		305		10,300
Saipem SpA		712		34,311
Schlumberger Ltd.		3,235		233,988
Seadrill Ltd.		946		37,163
Subsea 7 SA		1,066		24,624
Technip SA		267		29,667
Tenaris SA		1,269		25,969
Transocean Ltd.		942		42,173
WorleyParsons Ltd.		885		25,823
				902,440
Oil, Gas & Consumable Fuels - 2.6%
Alpha Natural Resources, Inc. (a)		532		3,495
Anadarko Petroleum Corp.		1,195		83,554
Apache Corp.		945		81,714
BG Group PLC		9,129		184,723
BP PLC		51,018		359,670
Cabot Oil & Gas Corp.		520		23,348
Chesapeake Energy Corp. (b)		1,245		23,493
Chevron Corp.		4,780		557,157
ConocoPhillips		2,920		166,966
Consol Energy, Inc.		540		16,227
Denbury Resources, Inc. (a)		910		14,706
Devon Energy Corp.		920		55,660
ENI SpA		6,460		141,626
EOG Resources, Inc.		655		73,393
EQT Corp.		340		20,060
Exxon Mobil Corp.		11,169		1,021,405
Galp Energia SGPS SA		622		10,077
Hess Corp.		740		39,753
Inpex Corp.		6		35,668
JX Holdings, Inc.		6,000		32,775
Kinder Morgan, Inc./Delaware		1,375		48,840
Lundin Petroleum AB (a)		856		20,905
Marathon Oil Corp.		1,705		50,417
Marathon Petroleum Corp.		812		44,327
Murphy Oil Corp.		455		24,429
Neste Oil Oyj		339		4,454
Newfield Exploration Co. (a)		320		10,022
Noble Energy, Inc.		425		39,402
Occidental Petroleum Corp.		1,950		167,817
OMV AG		396		13,872
Origin Energy Ltd.		2,920		34,214
Peabody Energy Corp.		645		14,377
Phillips 66		1,510		70,019
Pioneer Natural Resources Co.		315		32,886
QEP Resources, Inc.		425		13,455
Range Resources Corp.		400		27,948

Company	Shares		U.S. $ Value
Repsol YPF SA		2,133	$	41,453
Royal Dutch Shell PLC-Class A		9,862		341,777
Royal Dutch Shell PLC-Class B		7,154		254,581
Santos Ltd.		2,539		29,789
Southwestern Energy Co. (a)		845		29,389
Spectra Energy Corp.		1,535		45,068
Statoil ASA		3,000		77,420
Sunoco, Inc.		235		11,005
Tesoro Corp.		325		13,617
TonenGeneral Sekiyu KK		2,000		17,347
Total SA		5,706		283,873
Tullow Oil PLC		2,433		53,974
Valero Energy Corp.		1,325		41,976
Williams Cos., Inc. (The)		1,505		52,630
Woodside Petroleum Ltd.		1,733		59,283
WPX Energy, Inc. (a)		445		7,383
				4,923,419
				5,825,859
Materials - 2.0%
Chemicals - 0.9%
Air Liquide SA		839		103,995
Air Products & Chemicals, Inc.		520		43,004
Airgas, Inc.		190		15,637
Akzo Nobel NV		704		39,753
Arkema SA		218		20,405
Asahi Kasei Corp. (b)		3,000		15,464
BASF SE		2,469		208,621
CF Industries Holdings, Inc.		190		42,226
Dow Chemical Co. (The)		2,875		83,260
Eastman Chemical Co.		380		21,664
Ecolab, Inc.		640		41,478
EI du Pont de Nemours & Co.		2,245		112,856
FMC Corp.		330		18,275
Givaudan SA (a)		23		21,836
Hitachi Chemical Co., Ltd.		900		12,139
Incitec Pivot Ltd.		7,611		23,370
International Flavors & Fragrances, Inc.		200		11,916
Israel Chemicals Ltd.		1,432		17,393
Johnson Matthey PLC		550		21,483
JSR Corp. (b)		800		13,092
K&S AG		463		22,810
Kansai Paint Co., Ltd.		1,000		11,083
Kuraray Co., Ltd. (b)		1,000		11,356
Lanxess AG		227		18,856
Linde AG		460		79,285
LyondellBasell Industries NV		800		41,328
Mitsubishi Chemical Holdings Corp.		3,500		13,368
Mitsubishi Gas Chemical Co., Inc.		2,000		10,031
Monsanto Co.		1,290		117,416
Mosaic Co. (The)		680		39,175
Nitto Denko Corp.		400		19,040
Novozymes A/S		656		18,093
Orica Ltd.		981		25,227
PPG Industries, Inc.		400		45,936
Praxair, Inc.		740		76,871
Sherwin-Williams Co. (The)		215		32,016
Shin-Etsu Chemical Co., Ltd.		1,100		61,819

Company	Shares		U.S. $ Value
Showa Denko KK		7,000	$	11,107
Sigma-Aldrich Corp.		305		21,951
Solvay SA		159		18,426
Sumitomo Chemical Co., Ltd.		4,000		10,190
Syngenta AG		254		95,017
Teijin Ltd. (b)		5,000		12,218
Toray Industries, Inc. (b)		4,000		23,664
Yara International ASA		541		27,166
				1,751,316
Construction Materials - 0.1%
CRH PLC		1,933		37,124
Fletcher Building Ltd.		1,830		10,534
HeidelbergCement AG		440		23,110
Holcim Ltd. (a)		816		51,972
James Hardie Industries SE		1,640		14,729
Lafarge SA		533		28,637
Taiheiyo Cement Corp.		4,000		8,611
Vulcan Materials Co.		315		14,899
				189,616
Containers & Packaging - 0.0%
Amcor Ltd./Australia		3,244		26,029
Ball Corp.		360		15,232
Bemis Co., Inc.		230		7,238
Owens-Illinois, Inc. (a)		360		6,754
Rexam PLC		2,358		16,591
Sealed Air Corp.		390		6,029
				77,873
Metals & Mining - 0.9%
Acerinox SA		318		3,572
Alcoa, Inc.		2,570		22,745
Allegheny Technologies, Inc.		235		7,497
Anglo American PLC		3,567		105,006
Antofagasta PLC		1,060		21,679
ArcelorMittal (Euronext Amsterdam)		4,360		62,760
BHP Billiton Ltd.		8,668		296,175
BHP Billiton PLC		5,678		177,313
Cliffs Natural Resources, Inc.		330		12,913
Eurasian Natural Resources Corp. PLC		2,391		11,954
Fortescue Metals Group Ltd. (b)		4,488		16,090
Freeport-McMoRan Copper & Gold, Inc.		2,275		90,044
Fresnillo PLC		667		20,020
Glencore International PLC (b)		9,412		52,279
Hitachi Metals Ltd.		1,000		8,909
Iluka Resources Ltd.		2,008		20,526
JFE Holdings, Inc. (b)		1,200		15,808
Kazakhmys PLC		1,371		15,382
Kobe Steel Ltd. (a)(b)		12,000		9,507
Mitsubishi Materials Corp. (b)		5,000		15,731
Newcrest Mining Ltd.		2,055		61,776
Newmont Mining Corp.		1,195		66,932
Nippon Steel Sumitomo Metal Corp.		14,000		28,668
Norsk Hydro ASA		2,654		12,472
Nucor Corp.		760		29,078
Randgold Resources Ltd.		234		28,785

Company	Shares		U.S. $ Value
Rio Tinto Ltd.		1,171	$	64,320
Rio Tinto PLC		3,620		169,268
Sumitomo Metal Industries Ltd. (a)		9,000		13,562
Sumitomo Metal Mining Co., Ltd.		1,000		12,581
ThyssenKrupp AG		1,305		27,800
Titanium Metals Corp. (b)		150		1,925
Umicore SA		306		16,019
United States Steel Corp. (b)		330		6,293
Voestalpine AG		295		8,843
Xstrata PLC		5,579		86,547
				1,620,779
Paper & Forest Products - 0.1%
International Paper Co.		1,065		38,681
MeadWestvaco Corp.		420		12,852
OJI Holdings Corp. (b)		4,000		12,173
Stora Enso Oyj		1,482		9,233
UPM-Kymmene Oyj		1,411		16,001
				88,940
				3,728,524
Telecommunication Services - 1.3%
Diversified Telecommunication Services - 0.9%
AT&T, Inc.		13,970		526,669
Belgacom SA		409		12,480
Bezeq The Israeli Telecommunication Corp., Ltd.		7,158		8,362
BT Group PLC		20,918		77,977
CenturyLink, Inc.		1,500		60,600
Deutsche Telekom AG		7,551		92,860
Elisa Oyj		381		8,622
France Telecom SA		4,984		60,354
Frontier Communications Corp. (b)		2,380		11,662
Iliad SA		80		13,019
Inmarsat PLC		1,202		11,476
Koninklijke KPN NV		2,757		20,987
Nippon Telegraph & Telephone Corp.		1,200		57,096
Portugal Telecom SGPS SA		1,687		8,336
Singapore Telecommunications Ltd.		21,000		54,673
Swisscom AG		62		24,960
TDC A/S		1,331		9,711
Telecom Corp. of New Zealand Ltd.		5,176		10,191
Telecom Italia SpA (ordinary shares)		28,057		28,185
Telecom Italia SpA (savings shares)		16,898		14,802
Telefonica SA		11,042		147,583
Telekom Austria AG		893		6,315
Telenet Group Holding NV		194		8,673
Telenor ASA		1,945		37,962
TeliaSonera AB		5,820		41,879
Telstra Corp., Ltd.		11,707		47,460
Verizon Communications, Inc.		6,915		315,117
Vivendi SA		3,465		67,523
Windstream Corp. (b)		1,395		14,103
				1,799,637
Wireless Telecommunication Services - 0.4%
Crown Castle International Corp. (a)		720		46,152

Company	Shares		U.S. $ Value
KDDI Corp. (b)		700	$	54,294
MetroPCS Communications, Inc. (a)		725		8,490
Millicom International Cellular SA		313		29,042
NTT DoCoMo, Inc. (b)		41		66,243
Softbank Corp. (b)		2,400		97,036
Sprint Nextel Corp. (a)		7,230		39,909
StarHub Ltd.		4,000		12,105
Vodafone Group PLC		133,955		380,650
				733,921
				2,533,558
Utilities - 1.2%
Electric Utilities - 0.6%
Acciona SA		60		3,418
American Electric Power Co., Inc.		1,175		51,629
Cheung Kong Infrastructure Holdings Ltd.		2,000		12,108
Chubu Electric Power Co., Inc. (b)		1,700		22,074
Chugoku Electric Power Co., Inc. (The) (b)		900		11,963
CLP Holdings Ltd.		5,000		42,504
Contact Energy Ltd. (a)		971		4,248
Duke Energy Corp.		1,732		112,234
Edison International		765		34,953
EDP - Energias de Portugal SA		5,130		14,094
Electricite de France SA		1,042		21,788
Enel SpA		17,694		62,684
Entergy Corp.		425		29,453
Exelon Corp.		2,047		72,832
FirstEnergy Corp.		985		43,438
Fortum Oyj		1,194		22,000
Iberdrola SA		10,436		47,317
Kansai Electric Power Co., Inc. (The)		2,000		15,600
Kyushu Electric Power Co., Inc. (b)		1,200		9,896
NextEra Energy, Inc.		1,045		73,495
Northeast Utilities		760		29,055
Pepco Holdings, Inc.		540		10,206
Pinnacle West Capital Corp.		285		15,048
Power Assets Holdings Ltd.		3,500		29,696
PPL Corp.		1,395		40,525
Red Electrica Corp. SA		291		13,792
Scottish & Southern Energy PLC		2,523		56,774
Shikoku Electric Power Co., Inc. (b)		700		7,891
Southern Co. (The)		2,110		97,250
SP AusNet		12,753		13,826
Tohoku Electric Power Co., Inc. (a)(b)		1,400		11,252
Verbund AG		183		3,791
Xcel Energy, Inc.		1,170		32,421
				1,069,255
Gas Utilities - 0.1%
AGL Resources, Inc.		298		12,191
Enagas SA		481		9,485
Gas Natural SDG SA		933		13,203
Hong Kong & China Gas Co., Ltd.		14,000		35,173
Oneok, Inc.		470		22,706
Osaka Gas Co., Ltd. (b)		5,000		21,999
Snam SpA		6,059		26,876

Company	Shares		U.S. $ Value
Toho Gas Co., Ltd. (b)		2,000	$	13,271
Tokyo Gas Co., Ltd.		7,000		38,493
				193,397
Independent Power Producers & Energy Traders - 0.0%
AES Corp. (The) (a)		1,485		16,290
Electric Power Development Co., Ltd.		500		13,165
Enel Green Power SpA		8,772		14,858
NRG Energy, Inc.		540		11,551
				55,864
Multi-Utilities - 0.5%
AGL Energy Ltd.		1,463		22,666
Ameren Corp.		560		18,295
CenterPoint Energy, Inc.		995		21,193
Centrica PLC		13,908		73,596
CMS Energy Corp.		620		14,601
Consolidated Edison, Inc.		730		43,720
Dominion Resources, Inc./VA		1,385		73,322
DTE Energy Co.		420		25,175
E.ON AG		4,841		115,036
GDF Suez		3,330		74,232
Integrys Energy Group, Inc.		200		10,440
National Grid PLC		9,585		105,731
NiSource, Inc.		655		16,689
PG&E Corp.		1,025		43,737
Public Service Enterprise Group, Inc.		1,205		38,777
RWE AG		1,316		58,888
SCANA Corp.		295		14,240
Sempra Energy		560		36,114
TECO Energy, Inc.		475		8,427
United Utilities Group PLC		1,833		21,192
Veolia Environnement SA		932		10,027
Wisconsin Energy Corp.		550		20,719
				866,817
Water Utilities - 0.0%
Severn Trent PLC		639		17,328
				2,202,661
Total Common Stocks (cost $53,519,152)				58,673,843
	Principal Amount (000)
GOVERNMENTS - TREASURIES - 20.9%
United States - 20.9%
U.S. Treasury Bonds
1.25%, 2/15/14	$	490		496,890
3.125%, 11/15/41-2/15/42		1,360		1,447,770
3.50%, 2/15/39		152		174,491
3.75%, 8/15/41		220		263,038
3.875%, 8/15/40		280		342,081
4.25%, 5/15/39		240		310,987
4.375%, 11/15/39-5/15/41		593		784,694
4.50%, 8/15/39		220		296,106

	Principal Amount (000)		U.S. $ Value
4.75%, 2/15/37-2/15/41	$	266	$	370,866
5.375%, 2/15/31		650		940,164
6.00%, 2/15/26		134		196,122
6.25%, 8/15/23-5/15/30		314		477,672
7.25%, 5/15/16		108		134,553
7.50%, 11/15/16		92		118,328
7.625%, 2/15/25		55		89,822
8.00%, 11/15/21		123		192,658
U.S. Treasury Notes
0.125%, 9/30/13-12/31/13		980		979,119
0.25%, 11/30/13-2/15/15		4,395		4,395,692
0.375%, 11/15/14		165		165,400
0.50%, 10/15/13-10/15/14		883		886,648
0.625%, 1/31/13		320		320,525
0.75%, 3/31/13-6/15/14		1,574		1,583,576
0.875%, 11/30/16-4/30/17		2,315		2,350,441
1.00%, 1/15/14-10/31/16		1,655		1,682,417
1.125%, 12/15/12-6/15/13		809		813,635
1.25%, 3/15/14-4/30/19		1,980		2,014,858
1.375%, 11/30/15-2/28/19		902		929,087
1.75%, 7/31/15		660		686,813
1.875%, 10/31/17		1,100		1,167,375
2.00%, 11/30/13-2/15/22		2,749		2,863,742
2.125%, 12/31/15-8/15/21		825		872,403
2.25%, 1/31/15-11/30/17		739		793,205
2.375%, 8/31/14-7/31/17		2,504		2,627,760
2.50%, 3/31/15		148		156,198
2.625%, 1/31/18-11/15/20		1,505		1,661,650
2.75%, 5/31/17-2/15/19		1,330		1,468,162
3.00%, 2/28/17		889		984,568
3.125%, 10/31/16-5/15/21		1,111		1,245,248
3.25%, 7/31/16		232		256,849
3.375%, 11/15/19		380		440,563
3.625%, 2/15/21		295		349,229
3.75%, 11/15/18		615		721,856
4.00%, 11/15/12		57		57,269
Total Governments - Treasuries (cost $38,145,820)				39,110,530
	Shares
INVESTMENT COMPANIES - 6.9%
Funds and Investment Trusts - 6.9%
Vanguard MSCI Emerging Markets ETF (cost $12,588,940)		309,950		12,940,413
	Contracts
OPTIONS PURCHASED - PUTS - 0.2%
Option on Equity Indices - 0.2%
S&P 500 Index
Expiration: Dec 2012, Exercise Price: $ 1,450.00 (a)(c) (cost $258,396)		63		322,245

Company	Shares		U.S. $ Value
RIGHTS - 0.0%
Energy - 0.0%
Energy Equipment & Services - 0.0%
Cie Generale De Geophysi-rts (a) (cost $0)		470	$	759
SHORT-TERM INVESTMENTS - 39.6%
Investment Companies - 39.6%
AllianceBernstein Fixed-Income Shares, Inc. - Government STIF Portfolio, 0.14% (d) (cost $74,373,691)		74,373,691		74,373,691
Total Investments Before Security Lending Collateral for Securities Loaned - 98.9% (cost $178,885,999)				185,421,481
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 1.3%
INVESTMENT COMPANIES - 1.3%
AllianceBernstein Exchange Reserves-Class I, 0.17% (d) (cost $2,462,142)		2,462,142		2,462,142
Total Investments - 100.2% (cost $181,348,141) (e)				187,883,623
Other assets less liabilities - (0.2)% (f)				(294,578	)
Net Assets - 100.0%			$	187,589,045

FUTURES CONTRACTS

Type	Number of Contracts		Expiration Month		Original Value		Value at September 30, 2012		Unrealized Appreciation/ (Depreciation)
Purchased Contracts
10 Yr JGB Mini Futures		16		December 2012	$	2,951,694	$	2,957,253	$	5,559
ASX SPI 200 Index Futures		18		December 2012		2,052,324		2,046,386		(5,938	)
Australian T-Bond 10 Yr Futures		1		December 2012		128,976		131,625		2,649
Euro STOXX 50 Index Futures		73		December 2012		2,393,862		2,303,002		(90,860	)
FTSE 100 Index Futures		53		December 2012		4,988,238		4,889,435		(98,803	)
German Euro Bobl Futures		3		December 2012		484,263		484,554		291
German Euro Bund Futures		4		December 2012		726,393		728,726		2,333
German Euro Buxl Futures		2		December 2012		339,559		342,286		2,727
Govt of Canada Bond 10 Yr Futures		1		December 2012		138,371		139,640		1,269
Hang Seng Index Futures		6		October 2012		796,890		807,642		10,752

Type	Number of Contracts		Expiration Month	Original Value		Value at September 30, 2012		Unrealized Appreciation/ (Depreciation)
MSCI Emerging Market Mini Futures		9	December 2012	$	463,592	$	447,300	$	(16,292	)
Russell 2000 Mini Index Futures		23	December 2012		1,959,583		1,919,120		(40,463	)
S&P 500 E Mini Index Futures		176	December 2012		12,721,114		12,620,960		(100,154	)
S&P Mid Cap 400 E Mini Index Futures		44	December 2012		4,451,630		4,340,600		(111,030	)
TOPIX Index Futures		45	December 2012		4,213,720		4,238,211		24,491
U.S. T-Note 10 Yr Futures		76	December 2012		10,043,186		10,144,813		101,627
U.S. T-Note 5 Yr Futures		2	December 2012		248,238		249,266		1,028
UK Long Gilt Bond Futures		4	December 2012		777,984		779,108		1,124
Ultra Long U.S. T-Bond Futures		20	December 2012		3,303,250		3,304,375		1,125
								$	(308,565	)

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts  to Deliver (000)		In  Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Brown Brothers Harriman & Co.	USD	204	GBP	129		12/14/12	$	4,428
Brown Brothers Harriman & Co.	USD	477	JPY	37,352		12/14/12		2,289
Citibank NA	CAD	302	USD	309		12/14/12		2,090
Credit Suisse London Branch (GFX)	USD	1,828	JPY	143,027		12/14/12		5,745
Deutsche Bank AG London	USD	190	GBP	121		12/14/12		5,455
HSBC Bank USA	USD	289	GBP	181		12/14/12		3,403
Royal Bank of Scotland PLC	EUR	332	USD	419		12/14/12		(8,450	)
State Street Bank & Trust Co.	USD	144	GBP	91		12/14/12		2,509
State Street Bank & Trust Co.	USD	213	JPY	16,870		12/14/12		3,576
State Street Bank & Trust Co.	USD	133	SEK	884		12/14/12		1,201
UBS AG	USD	191	JPY	14,978		12/14/12		818
Westpac Banking Corp.	AUD	989	USD	1,016		12/14/12		(3,898	)
							$	19,166

TOTAL RETURN SWAP CONTRACTS

Receive/Pay Total Return on Reference Index

Index

# of Shares or Units

Rate Paid by the Fund

Notional Amount (000)

Maturity Date

Counterparty

Unrealized Appreciation/ (Depreciation)

Receive Total Return on Reference Index

Receive

FTSE EPRA/NAREIT Developed Real Estate Index

20

0.50

%

$

68

8/15/13

Deutsche Bank AG

$

(1,584

)

Receive/Pay Total Return on Reference Index	Index	# of Shares or Units		Rate Paid by the Fund			Notional Amount (000)		Maturity Date	Counterparty	Unrealized Appreciation/ (Depreciation)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		79		0.50	%	$	269	8/15/13	Deutsche Bank AG	$	(6,255	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		73		0.50	%		249	9/16/13	Deutsche Bank AG		(5,780	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		18		0.50	%		61	10/15/13	Deutsche Bank AG		(1,444	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		10		0.47	%		34	10/15/12	JPMorgan Chase Bank, NA		(791	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		13		0.47	%		44	10/15/12	JPMorgan Chase Bank, NA		(1,029	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		15		0.47	%		51	10/15/12	JPMorgan Chase Bank, NA		(1,187	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		16		0.47	%		55	10/15/12	JPMorgan Chase Bank, NA		(1,266	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		16		0.47	%		55	10/15/12	JPMorgan Chase Bank, NA		(1,266	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		29		0.47	%		99	10/15/12	JPMorgan Chase Bank, NA		(2,295	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		21		0.47	%		72	11/15/12	JPMorgan Chase Bank, NA		(1,662	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		35		0.47	%		119	11/15/12	JPMorgan Chase Bank, NA		(2,770	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		18		0.47	%		61	12/17/12	JPMorgan Chase Bank, NA		(1,425	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		19		0.47	%		65	12/17/12	JPMorgan Chase Bank, NA		(1,504	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		22		0.47	%		75	12/17/12	JPMorgan Chase Bank, NA		(1,741	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		23		0.47	%		78	12/17/12	JPMorgan Chase Bank, NA		(1,820	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		31		0.47	%		106	12/17/12	JPMorgan Chase Bank, NA		(2,454	)

Receive/Pay Total Return on Reference Index	Index	# of Shares or Units		Rate Paid by the Fund			Notional Amount (000)		Maturity Date	Counterparty	Unrealized Appreciation/ (Depreciation)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		38		0.47	%	$	129	12/17/12	JPMorgan Chase Bank, NA	$	(3,008	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		21		0.54	%		72	3/15/13	JPMorgan Chase Bank, NA		(1,664	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		38		0.54	%		129	3/15/13	JPMorgan Chase Bank, NA		(3,010	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		42		0.54	%		143	3/15/13	JPMorgan Chase Bank, NA		(3,327	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		48		0.54	%		164	3/15/13	JPMorgan Chase Bank, NA		(3,802	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		89		0.54	%		303	3/15/13	JPMorgan Chase Bank, NA		(7,050	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		12		0.56	%		41	4/15/13	JPMorgan Chase Bank, NA		(951	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		32		0.56	%		109	4/15/13	JPMorgan Chase Bank, NA		(2,536	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		56		0.56	%		191	4/15/13	JPMorgan Chase Bank, NA		(4,437	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		69		0.56	%		235	4/15/13	JPMorgan Chase Bank, NA		(5,467	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		70		0.56	%		239	4/15/13	JPMorgan Chase Bank, NA		(5,547	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		72		0.56	%		245	4/15/13	JPMorgan Chase Bank, NA		(5,705	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		19		0.45	%		65	6/17/13	JPMorgan Chase Bank, NA		(1,503	)
Receive	Russell 2000 Total Return Index		30		0.22	%		118	3/15/13	JPMorgan Chase Bank, NA		(2,828	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		19		0.22	%		65	4/15/13	Morgan Stanley Capital Services Inc.		(1,499	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		33		0.42	%		112	10/15/12	UBS AG		(2,610	)

Receive/Pay Total Return on Reference Index	Index	# of Shares or Units		Rate Paid by the Fund			Notional Amount (000)		Maturity Date	Counterparty	Unrealized Appreciation/ (Depreciation)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		233		0.42	%	$	794	5/15/13	UBS AG	$	(18,429	)
Receive	FTSE EPRA/NAREIT Developed Real Estate Index		19		0.45	%		65	6/17/13	UBS AG		(1,503	)
Receive	Russell 2000 Total Return Index		11		0.22	%		43	2/15/13	UBS AG		(1,037	)
Receive	Russell 2000 Total Return Index		476		0.22	%		1,869	2/15/13	UBS AG		(44,781	)
Receive	Russell 2000 Total Return Index		109		0.22	%		428	9/16/13	UBS AG		(10,257	)
											$	(167,224	)

(a) Non-income producing security.

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

(c) One contract relates to 100 shares.

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

(e) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $7,155,645 and gross unrealized depreciation of investments was $(620,163), resulting in net unrealized appreciation of $6,535,482.

(f) An amount of U.S. $1,917,042 has been segregated to collateralize margin requirements for the open futures contracts at September 30, 2012.

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.

Currency Abbreviation:

AUD	-	Australian Dollar
CAD	-	Canadian Dollar
EUR	-	Euro
GBP	-	Great British Pound
HKD	-	Hong Kong Dollar
JPY	-	Japanese Yen
SEK	-	Swedish Krona
USD	-	United States Dollar

Glossary:

EPRA	-	European Public Real Estate Association
FDR	-	Fiduciary Depositary Receipt
FTSE	-	Financial Times Stock Exchange
NAREIT	-	National Association of Real Estate Investment Trusts
REG	-	Registered Shares
REIT	-	Real Estate Investment Trust

AllianceBernstein Variable Products Series Fund

Dynamic Asset Allocation Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:	Level 1			Level 2			Level 3			Total
Assets:
Common Stocks:
Financials	$	4,532,414		$	6,426,827		$	– 0	–	$	10,959,241
Information Technology		6,272,466			1,190,423			– 0	–		7,462,889
Consumer Staples		3,416,496			3,248,708			– 0	–		6,665,204
Health Care		3,747,283			2,839,871			– 0	–		6,587,154
Industrials		3,084,670			3,391,120			– 0	–		6,475,790
Consumer Discretionary		3,458,757			2,774,206			– 0	–		6,232,963
Energy		3,522,446			2,303,413			– 0	–		5,825,859
Materials		1,104,121			2,610,841			13,562			3,728,524
Telecommunication Services		1,022,702			1,510,856			– 0	–		2,533,558
Utilities		1,090,726			1,111,935			– 0	–		2,202,661
Governments - Treasuries		– 0	–		39,110,530			– 0	–		39,110,530
Investment Companies		12,940,413			– 0	–		– 0	–		12,940,413
Options Purchased - Puts		– 0	–		322,245			– 0	–		322,245
Rights		759			– 0	–		– 0	–		759
Short-Term Investments		74,373,691			– 0	–		– 0	–		74,373,691
Investments of Cash Collateral for Security Loaned in Affiliated Money Market Fund		2,462,142			– 0	–		– 0	–		2,462,142
Total Investments in Securities		121,029,086			66,840,975+			13,562			187,883,623
Other Financial Instruments* :
Assets:
Futures Contracts		119,732			35,243			– 0	–		154,975
Forward Currency Exchange Contracts		– 0	–		31,514			– 0	–		31,514
Liabilities:
Futures Contracts		(358,799	)		(104,741	)		– 0	–		(463,540	)
Forward Currency Exchange Contracts		– 0	–		(12,348	)		– 0	–		(12,348	)
Total Return Swap Contracts		– 0	–		(167,224	)		– 0	–		(167,224	)
Total^	$	120,790,019		$	66,623,419		$	13,562		$	187,427,000

* 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 the third party vendor modeling tools to the extent available.

^ An amount of $17,781,015 was transferred from Level 2 to Level 1 due to increase in observable inputs during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

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

	Materials			Total
Balance as of 12/31/11	$	– 0	–	$	– 0	–
Accrued discounts/(premiums)		– 0	–		– 0	–
Realized gain (loss)		– 0	–		– 0	–
Change in unrealized appreciation/depreciation		(993	)		(993	)
Purchases		14,555			14,555
Sales		– 0	–		– 0	–
Transfers in to Level 3		– 0	–		– 0	–
Transfers out of Level 3		– 0	–		– 0	–
Balance as of 9/30/12	$	13,562		$	13,562
Net change in unrealized appreciation/depreciation from Investments held as of 9/30/12	$	(993	)	$	(993	)

AllianceBernstein Variable Products Series Fund

Global Thematic Growth Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 99.3%
Information Technology - 30.6%
Communications Equipment - 1.3%
QUALCOMM, Inc.		29,570	$	1,847,829
Computers & Peripherals - 6.6%
Apple, Inc.		2,890		1,928,381
Fusion-io, Inc. (a)(b)		91,387		2,766,285
Silicon Graphics International Corp. (a)(b)		311,597		2,835,533
Stratasys, Inc. (a)(b)		25,640		1,394,816
				8,925,015
Internet Software & Services - 10.3%
Cornerstone OnDemand, Inc. (b)		43,759		1,341,651
eBay, Inc. (b)		26,830		1,298,840
Equinix, Inc. (b)		6,820		1,405,261
Facebook, Inc. (a)(b)		86,512		1,872,985
Google, Inc.-Class A (b)		1,960		1,478,820
LinkedIn Corp. (b)		11,316		1,362,446
MercadoLibre, Inc.		17,190		1,419,035
Rackspace Hosting, Inc. (b)		30,972		2,046,939
Yelp, Inc. (a)(b)		64,280		1,738,774
				13,964,751
Semiconductors & Semiconductor Equipment - 4.4%
Mellanox Technologies Ltd. (a)(b)		8,384		851,228
NVIDIA Corp. (b)		253,528		3,382,063
Samsung Electronics Co., Ltd.		1,405		1,693,163
				5,926,454
Software - 8.0%
Intuit, Inc.		23,860		1,404,877
NetSuite, Inc. (b)		18,860		1,203,268
Red Hat, Inc. (b)		52,320		2,979,101
Salesforce.com, Inc. (b)		15,940		2,433,878
ServiceNow, Inc. (a)(b)		27,903		1,079,288
Splunk, Inc. (b)		47,830		1,756,318
				10,856,730
				41,520,779
Consumer Discretionary - 15.2%
Automobiles - 1.7%
Tesla Motors, Inc. (a)(b)		76,909		2,251,896
Hotels, Restaurants & Leisure - 3.5%
Bloomberry Resorts Corp. (b)		3,334,000		895,141
Ctrip.com International Ltd. (ADR) (a)(b)		123,360		2,082,317
Galaxy Entertainment Group Ltd. (a)(b)		542,000		1,807,660
				4,785,118
Household Durables - 1.5%
iRobot Corp. (a)(b)		29,640		674,606

Company	Shares		U.S. $ Value
Rinnai Corp. (a)		18,400	$	1,373,257
				2,047,863
Internet & Catalog Retail - 1.8%
Amazon.com, Inc. (b)		9,848		2,504,543
Multiline Retail - 1.0%
Golden Eagle Retail Group Ltd. (a)		696,000		1,358,335
Specialty Retail - 2.8%
L’Occitane International SA		521,750		1,375,631
Zhongsheng Group Holdings Ltd. (a)		1,908,000		2,372,219
				3,747,850
Textiles, Apparel & Luxury Goods - 2.9%
Burberry Group PLC		166,880		2,702,128
Samsonite International SA		686,100		1,309,047
				4,011,175
				20,706,780
Financials - 13.3%
Capital Markets - 2.9%
Blackstone Group LP		93,360		1,333,181
CITIC Securities Co., Ltd. (a)		1,518,300		2,658,883
				3,992,064
Commercial Banks - 2.6%
BOC Hong Kong Holdings Ltd.		587,500		1,858,025
Sberbank of Russia (Sponsored ADR)		137,311		1,599,673
				3,457,698
Insurance - 1.8%
AIA Group Ltd.		650,800		2,398,978
Real Estate Investment Trusts (REITs) - 1.0%
Weyerhaeuser Co.		51,317		1,341,426
Real Estate Management & Development - 5.0%
Ciputra Development Tbk PT		19,480,500		1,440,101
Guangzhou R&F Properties Co., Ltd. (a)		1,154,800		1,327,615
Hang Lung Properties Ltd.		527,000		1,794,371
Sun Hung Kai Properties Ltd.		109,000		1,585,999
Zillow, Inc. (a)(b)		16,486		695,380
				6,843,466
				18,033,632
Energy - 10.6%
Energy Equipment & Services - 4.8%
Halliburton Co.		58,300		1,964,127
National Oilwell Varco, Inc.		19,510		1,562,946
Saipem SpA		28,310		1,364,268
Schlumberger Ltd.		22,720		1,643,338
				6,534,679

Company	Shares		U.S. $ Value
Oil, Gas & Consumable Fuels - 5.8%
Cameco Corp. (a)		68,683	$	1,337,890
Denbury Resources, Inc. (b)		148,890		2,406,062
Kinder Morgan, Inc./Delaware		34,436		1,223,167
Occidental Petroleum Corp.		17,300		1,488,838
Santos Ltd.		125,170		1,468,549
				7,924,506
				14,459,185
Health Care - 10.6%
Biotechnology - 1.9%
Cepheid, Inc. (b)		56,679		1,955,993
Genomic Health, Inc. (b)		17,754		615,886
				2,571,879
Health Care Equipment & Supplies - 3.3%
Given Imaging Ltd. (b)		102,238		1,489,608
IDEXX Laboratories, Inc. (b)		13,850		1,375,997
Intuitive Surgical, Inc. (b)		3,360		1,665,317
				4,530,922
Health Care Providers & Services - 0.5%
IHH Healthcare Bhd (b)		571,900		598,750
Health Care Technology - 1.2%
athenahealth, Inc. (a)(b)		18,312		1,680,492
Life Sciences Tools & Services - 3.7%
Illumina, Inc. (a)(b)		102,785		4,954,237
				14,336,280
Materials - 9.3%
Chemicals - 1.0%
Monsanto Co.		14,780		1,345,276
Metals & Mining - 8.3%
Freeport-McMoRan Copper & Gold, Inc.		73,068		2,892,031
Goldcorp, Inc.		66,150		3,037,342
Mongolian Mining Corp. (a)(b)		3,280,500		1,493,551
Turquoise Hill Resources Ltd. (b)		254,364		2,165,626
Umicore SA		32,110		1,680,918
				11,269,468
				12,614,744
Industrials - 5.9%
Construction & Engineering - 1.0%
Larsen & Toubro Ltd.		45,670		1,377,687
Electrical Equipment - 1.0%
Babcock & Wilcox Co. (The) (b)		53,355		1,358,952
Machinery - 3.9%
Cummins, Inc.		16,430		1,515,010
FANUC Corp.		15,200		2,446,565

Company	Shares		U.S. $ Value
Proto Labs, Inc. (a)(b)		41,023	$	1,387,398
				5,348,973
				8,085,612
Consumer Staples - 2.0%
Beverages - 1.7%
Heckmann Corp. (a)(b)		545,609		2,291,558
Food Products - 0.3%
Besunyen Holdings Co., Ltd. (b)		5,698,000		397,781
				2,689,339
Telecommunication Services - 1.8%
Wireless Telecommunication Services - 1.8%
America Movil SAB de CV Series L (ADR)		60,970		1,551,077
Tower Bersama Infrastructure Tbk PT (b)		1,838,500		853,789
				2,404,866
Total Common Stocks (cost $126,083,556)				134,851,217
	Contracts
OPTIONS PURCHASED - CALLS - 0.2%
Options on Equity Indices - 0.2%
Russian Depositary Index
Expiration: Dec 2012, Exercise Price: $ 1,600.00 (b)(c)		1,825		232,596
Options on Funds and Investment Trusts - 0.0%
Market Vectors JR Gold Miners
Expiration: Jan 2013, Exercise Price: $ 44.63 (b)(d)		2,000		15,000
Total Options Purchased - Calls (cost $1,813,108)				247,596
OPTIONS PURCHASED - PUTS - 0.1%
Options on Equity Indices - 0.1%
Consumer Staples Select SPDR
Expiration: Dec 2012, Exercise Price: $ 34.00 (b)(d)		1,740		51,330
Options on Equities - 0.0%
Oracle Corp.
Expiration: Dec 2012, Exercise Price: $ 28.00 (b)(d)		1,100		45,100
Total Options Purchased - Puts (cost $334,737)				96,430

	Principal Amount (000)		U.S. $ Value
SHORT-TERM INVESTMENTS - 0.4%
Time Deposit - 0.4%
State Street Time Deposit
0.01%, 10/01/12 (cost $539,347)	$	539	$	539,347
Total Investments Before Security Lending Collateral for Securities Loaned - 100.0% (cost $128,770,748)				135,734,590
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 23.7%
Investment Companies - 23.7%
AllianceBernstein Exchange Reserves - Class I,
0.17% (e) (cost $32,184,189)		32,184,189		32,184,189
Total Investments - 123.7% (cost $160,954,937) (f)				167,918,779
Other assets less liabilities - (23.7)%				(32,204,743	)
Net Assets - 100.0%			$	135,714,036

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts  to Deliver (000)		In  Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
HSBC BankUSA	USD	11,447	GBP	7,174		12/14/12	$	134,890
Royal Bank of Canada	USD	4,338	CAD	4,248		12/14/12		(24,461	)
Royal Bank of Scotland PLC	USD	7,627	EUR	5,953		12/14/12		28,980
UBS AG	USD	6,060	JPY	473,693		12/14/12		13,605
Westpac Banking Corp.	USD	3,815	AUD	3,715		12/14/12		14,642
							$	167,656

PUT OPTIONS WRITTEN

Description	Contracts		Exercise Price		Expiration Month	U.S. $ Value
Consumer Staples Select SPDR (d)		1,740	$	28.00	December 2012	$	(6,090	)
Oracle Corp. (d)		1,100		23.00	December 2012		(7,700	)
(premium received $82,013)						$	(13,790	)

CALL OPTIONS WRITTEN

Description	Contracts		Exercise Price		Expiration Month	U.S. $ Value
Russian Depositary Index (c) (premium received $45,625)		1,825	$	1,850.00	December 2012	$	(46,720	)

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

(b) Non-income producing security.

(c) One contract relates to 10 shares.

(d) One contract relates to 100 shares.

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

(f) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $15,626,660 and gross unrealized depreciation of investments was $(8,662,818), resulting in net unrealized appreciation of $6,963,842.

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.

Currency Abbreviations:

AUD	-	Australian Dollar
CAD	-	Canadian Dollar
EUR	-	Euro
GBP	-	Great British Pound
JPY	-	Japanese Yen
USD	-	United States Dollar

Glossary:

ADR - American Depositary Receipt

AllianceBernstein Variable Products Series Fund

Global Thematic Growth Portfolio

COUNTRY BREAKDOWN *

September 30, 2012 (unaudited)

59.0%	United States
7.9%	Hong Kong
7.5%	China
4.8%	Canada
2.8%	Japan
2.0%	United Kingdom
1.7%	Israel
1.7%	Indonesia
1.3%	South Korea
1.2%	Belgium
1.2%	Russia
1.1%	Mexico
1.1%	Mongolia
6.3%	Other
0.4%	Short-Term
100.0%	Total Investments

* All data are as of September 30, 2012. The Portfolio’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. “Other” country weightings represent 1.1% or less in the following countries: Argentina, Australia, India, Italy, Luxembourg, Malaysia and Philippines.

AllianceBernstein Variable Products Series Fund

Global Thematic Growth Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:	Level 1			Level 2			Level 3			Total
Assets:
Common Stocks:
Information Technology	$	39,827,616		$	1,693,163		$	– 0	–	$	41,520,779
Consumer Discretionary		8,408,503			12,298,277			– 0	–		20,706,780
Financials		3,369,987			14,663,645			– 0	–		18,033,632
Energy		11,626,368			2,832,817			– 0	–		14,459,185
Health Care		14,336,280			– 0	–		– 0	–		14,336,280
Materials		9,440,275			3,174,469			– 0	–		12,614,744
Industrials		4,261,360			3,824,252			– 0	–		8,085,612
Consumer Staples		2,291,558			397,781			– 0	–		2,689,339
Telecommunication Services		1,551,077			853,789			– 0	–		2,404,866
Options Purchased - Calls		– 0	–		247,596			– 0	–		247,596
Options Purchased - Puts		– 0	–		96,430			– 0	–		96,430
Short-Term Investments		– 0	–		539,347			– 0	–		539,347
Investments of Cash Collateral for Security Loaned in Affiliated Money Market Fund		32,184,189			– 0	–		– 0	–		32,184,189
Total Investments in Securities		127,297,213			40,621,566	+		– 0	–		167,918,779
Other Financial Instruments* :
Assets:
Forward Currency Exchange Contracts		– 0	–		192,117			– 0	–		192,117
Liabilities:
Forward Currency Exchange Contracts		– 0	–		(24,461	)		– 0	–		(24,461	)
Put Options Written		– 0	–		(13,790	)		– 0	–		(13,790	)
Call Options Written		– 0	–		(46,720	)		– 0	–		(46,720	)
Total^	$	127,297,213		$	40,728,712		$	– 0	–	$	168,025,925

* 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.

^ An amount of $2,097,693 was transferred from Level 1 to Level 2 due to insufficient observable inputs during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

AllianceBernstein Variable Products Series Fund

Growth Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 99.0%
Information Technology - 33.9%
Communications Equipment - 3.9%
Cisco Systems, Inc.		18,940	$	361,564
F5 Networks, Inc. (a)		4,510		472,197
QUALCOMM, Inc.		34,530		2,157,780
				2,991,541
Computers & Peripherals - 10.7%
Apple, Inc.		12,340		8,233,988
Internet Software & Services - 6.2%
eBay, Inc. (a)		29,090		1,408,247
Google, Inc.-Class A (a)		4,432		3,343,944
				4,752,191
IT Services - 3.9%
Cognizant Technology Solutions Corp.-Class A (a)		22,240		1,555,021
Visa, Inc.-Class A		10,630		1,427,396
				2,982,417
Semiconductors & Semiconductor Equipment - 1.6%
Broadcom Corp.-Class A (a)		15,850		548,093
Xilinx, Inc.		20,970		700,608
				1,248,701
Software - 7.6%
Informatica Corp. (a)		16,470		573,321
Intuit, Inc.		17,850		1,051,008
Oracle Corp.		70,150		2,209,023
Red Hat, Inc. (a)		14,050		800,007
TIBCO Software, Inc. (a)		39,820		1,203,759
				5,837,118
				26,045,956
Health Care - 16.6%
Biotechnology - 3.4%
Biogen Idec, Inc. (a)		6,750		1,007,303
Gilead Sciences, Inc. (a)		19,770		1,311,344
Synageva BioPharma Corp. (a)		6,010		321,114
				2,639,761
Health Care Equipment & Supplies - 4.9%
Covidien PLC		9,880		587,070
HeartWare International, Inc. (a)(b)		7,970		753,085
IDEXX Laboratories, Inc. (a)		6,430		638,820
Intuitive Surgical, Inc. (a)		1,000		495,630
OraSure Technologies, Inc. (a)		32,810		364,847
Stryker Corp.		5,700		317,262
Volcano Corp. (a)		20,750		592,828
				3,749,542

Company	Shares		U.S. $ Value
Health Care Providers & Services - 3.7%
AmerisourceBergen Corp.-Class A		17,380	$	672,780
McKesson Corp.		12,330		1,060,750
UnitedHealth Group, Inc.		19,880		1,101,550
				2,835,080
Pharmaceuticals - 4.6%
Allergan, Inc./United States		13,100		1,199,698
Bristol-Myers Squibb Co.		40,190		1,356,413
Watson Pharmaceuticals, Inc. (a)		11,540		982,746
				3,538,857
				12,763,240
Consumer Discretionary - 14.9%
Automobiles - 0.6%
Harley-Davidson, Inc.		11,470		485,984
Hotels, Restaurants & Leisure - 3.7%
Las Vegas Sands Corp.		10,600		491,522
Marriott Vacations Worldwide Corp. (a)		14,040		505,721
McDonald’s Corp.		13,315		1,221,651
Starbucks Corp.		11,430		580,073
				2,798,967
Internet & Catalog Retail - 2.5%
Amazon.com, Inc. (a)		4,100		1,042,712
HSN, Inc.		5,710		280,076
priceline.com, Inc. (a)		980		606,355
				1,929,143
Media - 2.6%
CBS Corp.-Class B		16,870		612,887
Viacom, Inc.-Class B		15,220		815,640
Walt Disney Co. (The)		11,380		594,946
				2,023,473
Multiline Retail - 0.8%
Dollar General Corp. (a)		11,910		613,841
Specialty Retail - 2.2%
Bed Bath & Beyond, Inc. (a)		10,890		686,070
Francesca’s Holdings Corp. (a)		10,360		318,363
O’Reilly Automotive, Inc. (a)		4,780		399,703
Tractor Supply Co.		2,820		278,870
				1,683,006
Textiles, Apparel & Luxury Goods - 2.5%
Coach, Inc.		10,725		600,815
PVH Corp.		3,858		361,572
VF Corp.		5,940		946,598
				1,908,985
				11,443,399

Company	Shares		U.S. $ Value
Industrials - 10.3%
Aerospace & Defense - 2.7%
Boeing Co. (The)		18,200	$	1,267,084
Precision Castparts Corp.		5,040		823,234
				2,090,318
Electrical Equipment - 2.3%
AMETEK, Inc.		21,560		764,302
Emerson Electric Co.		21,130		1,019,945
				1,784,247
Industrial Conglomerates - 2.1%
Danaher Corp.		29,170		1,608,725
Machinery - 2.5%
Dover Corp.		14,940		888,780
Joy Global, Inc.		9,800		549,388
Parker Hannifin Corp.		5,420		453,004
				1,891,172
Road & Rail - 0.7%
JB Hunt Transport Services, Inc.		11,090		577,124
				7,951,586
Energy - 10.1%
Energy Equipment & Services - 5.2%
Halliburton Co.		17,200		579,468
National Oilwell Varco, Inc.		11,905		953,710
Schlumberger Ltd.		24,765		1,791,252
Technip SA		6,145		682,781
				4,007,211
Oil, Gas & Consumable Fuels - 4.9%
Anadarko Petroleum Corp.		7,780		543,978
Concho Resources, Inc. (a)		7,250		686,937
EOG Resources, Inc.		9,045		1,013,492
Noble Energy, Inc.		11,105		1,029,545
Occidental Petroleum Corp.		5,250		451,815
				3,725,767
				7,732,978
Consumer Staples - 8.8%
Beverages - 0.6%
Monster Beverage Corp. (a)		8,480		459,277
Food & Staples Retailing - 0.9%
CVS Caremark Corp.		14,180		686,596
Food Products - 1.8%
Kraft Foods, Inc.-Class A		20,700		855,945
Mead Johnson Nutrition Co.-Class A		7,320		536,409
				1,392,354
Tobacco - 5.5%
Altria Group, Inc.		45,480		1,518,577

Company	Shares		U.S. $ Value
Philip Morris International, Inc.		29,800	$	2,680,212
				4,198,789
				6,737,016
Financials - 4.4%
Capital Markets - 2.1%
Affiliated Managers Group, Inc. (a)		5,230		643,290
Goldman Sachs Group, Inc. (The)		5,720		650,250
State Street Corp.		8,150		341,974
				1,635,514
Commercial Banks - 0.9%
Wells Fargo & Co.		19,500		673,335
Diversified Financial Services - 1.4%
IntercontinentalExchange, Inc. (a)		5,480		731,087
JPMorgan Chase & Co.		8,240		333,555
				1,064,642
				3,373,491
Total Common Stocks (cost $60,679,773)				76,047,666
	Principal Amount (000)
SHORT-TERM INVESTMENTS - 1.1%
Time Deposit - 1.1%
State Street Time Deposit 0.01%, 10/01/12 (cost $870,321)	$	870		870,321
Total Investments Before Security Lending Collateral for Securities Loaned - 100.1% (cost $61,550,094)				76,917,987
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 0.8%
Investment Companies - 0.8%
AllianceBernstein Exchange Reserves - Class I,
0.17% (c) (cost $591,360)		591,360		591,360
Total Investments - 100.9% (cost $62,141,454) (d)				77,509,347
Other assets less liabilities - (0.9)%				(653,605	)
Net Assets - 100.0%			$	76,855,742

(a) Non-income producing security.

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

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

(d) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $16,086,401 and gross unrealized depreciation of investments was $(718,508), resulting in net unrealized appreciation of $15,367,893.

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.

AllianceBernstein Variable Products Series Fund

Growth Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks:

Information Technology

$

26,045,956

$

– 0

–

$

– 0

–

$

26,045,956

Health Care

12,763,240

– 0

–

– 0

–

12,763,240

Consumer Discretionary

11,443,399

– 0

–

– 0

–

11,443,399

Industrials

7,951,586

– 0

–

– 0

–

7,951,586

Energy

7,050,197

682,781

– 0

–

7,732,978

Consumer Staples

6,737,016

– 0

–

– 0

–

6,737,016

Financials

3,373,491

– 0

–

– 0

–

3,373,491

Short-Term Investments

– 0

–

870,321

– 0

–

870,321

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

591,360

– 0

–

– 0

–

591,360

Total Investments in Securities

75,956,245

1,553,102

– 0

–

77,509,347

Other Financial Instruments*

– 0

–

– 0

–

– 0

–

– 0

–

Total^

$

75,956,245

$

1,553,102

$

– 0

–

$

77,509,347

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

^ There were no transfers between Level 1 and Level 2 during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

AllianceBernstein Variable Products Series Fund

Growth & Income Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 94.1%
Financials - 20.6%
Capital Markets - 5.7%
BlackRock, Inc.-Class A		110,050	$	19,621,915
Goldman Sachs Group, Inc. (The)		188,370		21,413,901
State Street Corp.		254,410		10,675,044
				51,710,860
Commercial Banks - 4.9%
Fifth Third Bancorp		943,400		14,632,134
PNC Financial Services Group, Inc.		53,410		3,370,171
Wells Fargo & Co.		760,820		26,271,115
				44,273,420
Consumer Finance - 1.6%
Capital One Financial Corp.		258,140		14,716,561
Diversified Financial Services - 3.1%
JPMorgan Chase & Co.		709,670		28,727,442
Insurance - 5.3%
ACE Ltd.		199,020		15,045,912
Hartford Financial Services Group, Inc.		592,030		11,509,063
MetLife, Inc.		415,732		14,326,125
Travelers Cos., Inc. (The)		112,290		7,664,915
				48,546,015
				187,974,298
Health Care - 18.0%
Biotechnology - 2.4%
Amgen, Inc.		197,542		16,656,741
Gilead Sciences, Inc. (a)		79,060		5,244,050
				21,900,791
Health Care Equipment & Supplies - 2.5%
St Jude Medical, Inc.		405,039		17,064,293
Zimmer Holdings, Inc.		79,970		5,407,571
				22,471,864
Health Care Providers & Services - 6.2%
AmerisourceBergen Corp.-Class A		306,100		11,849,131
McKesson Corp.		148,830		12,803,845
UnitedHealth Group, Inc.		579,170		32,091,810
				56,744,786
Pharmaceuticals - 6.9%
Abbott Laboratories		106,900		7,329,064
Bristol-Myers Squibb Co.		456,290		15,399,788
Forest Laboratories, Inc. (a)		155,070		5,522,043
Merck & Co., Inc.		320,229		14,442,328
Pfizer, Inc.		813,010		20,203,298
				62,896,521
				164,013,962

Company	Shares		U.S. $ Value
Industrials - 12.7%
Aerospace & Defense - 5.5%
Boeing Co. (The)		419,660	$	29,216,729
Raytheon Co.		370,290		21,165,776
				50,382,505
Construction & Engineering - 1.1%
URS Corp.		290,054		10,241,807
Electrical Equipment - 0.7%
Hubbell, Inc.-Class B		78,950		6,374,423
Industrial Conglomerates - 3.0%
General Electric Co.		1,180,920		26,818,693
Machinery - 2.1%
Actuant Corp.-Class A		182,425		5,221,004
Dover Corp.		178,590		10,624,319
Gardner Denver, Inc.		54,476		3,290,895
				19,136,218
Road & Rail - 0.3%
Norfolk Southern Corp.		44,852		2,853,933
				115,807,579
Energy - 12.5%
Energy Equipment & Services - 3.6%
Diamond Offshore Drilling, Inc. (b)		240,789		15,846,324
National Oilwell Varco, Inc.		209,777		16,805,236
				32,651,560
Oil, Gas & Consumable Fuels - 8.9%
Chevron Corp.		254,160		29,624,890
Devon Energy Corp.		56,610		3,424,905
Exxon Mobil Corp.		263,950		24,138,227
Marathon Petroleum Corp.		106,290		5,802,371
Occidental Petroleum Corp.		215,280		18,526,997
				81,517,390
				114,168,950
Information Technology - 10.5%
Communications Equipment - 1.4%
Cisco Systems, Inc.		675,790		12,900,831
Computers & Peripherals - 1.9%
Apple, Inc.		25,490		17,008,457
IT Services - 0.5%
Amdocs Ltd.		143,944		4,748,713
Semiconductors & Semiconductor Equipment - 1.4%
Marvell Technology Group Ltd.		1,434,928		13,129,591
Software - 5.3%
Activision Blizzard, Inc.		604,123		6,814,507
Adobe Systems, Inc. (a)		154,590		5,017,991
Cadence Design Systems, Inc. (a)		429,440		5,524,746
Microsoft Corp.		564,800		16,819,744

Company	Shares		U.S. $ Value
Oracle Corp.		441,430	$	13,900,631
				48,077,619
				95,865,211
Consumer Discretionary - 9.7%
Internet & Catalog Retail - 3.2%
Liberty Interactive Corp. (a)		1,430,049		26,455,907
Liberty Ventures (a)		63,371		3,145,736
				29,601,643
Media - 4.9%
Comcast Corp.-Class A		459,680		16,442,754
Scripps Networks Interactive, Inc.-Class A		180,210		11,034,258
Viacom, Inc.-Class B		317,670		17,023,935
				44,500,947
Specialty Retail - 1.6%
Bed Bath & Beyond, Inc. (a)		126,050		7,941,150
O’Reilly Automotive, Inc. (a)		76,050		6,359,301
				14,300,451
				88,403,041
Consumer Staples - 4.3%
Beverages - 0.6%
Molson Coors Brewing Co.-Class B		117,500		5,293,375
Food & Staples Retailing - 2.2%
CVS Caremark Corp.		420,227		20,347,391
Food Products - 0.6%
Smithfield Foods, Inc. (a)		259,830		5,105,660
Tobacco - 0.9%
Lorillard, Inc.		74,121		8,631,390
				39,377,816
Telecommunication Services - 2.8%
Diversified Telecommunication Services - 2.8%
AT&T, Inc.		529,050		19,945,185
Verizon Communications, Inc.		114,270		5,207,284
				25,152,469
Materials - 2.2%
Chemicals - 0.8%
CF Industries Holdings, Inc.		32,760		7,280,582
Paper & Forest Products - 1.4%
Domtar Corp.		159,360		12,476,295
				19,756,877
Utilities - 0.8%
Multi-Utilities - 0.8%
Ameren Corp.		212,060		6,928,000
Total Common Stocks (cost $715,488,453)				857,448,203

Company	Shares		U.S. $ Value
RIGHTS - 0.0%
Consumer Discretionary - 0.0%
Internet & Catalog Retail - 0.0%
Liberty Ventures (a) (cost $232,654)		21,124	$	286,019
	Principal Amount (000)
SHORT-TERM INVESTMENTS - 7.7%
Time Deposit - 7.7%
State Street Time Deposit 0.01%, 10/01/12 (cost $70,517,841)	$	70,518		70,517,841
Total Investments Before Security Lending Collateral for Securities Loaned - 101.8% (cost $786,238,948)				928,252,063
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 0.2%
Investment Companies - 0.2%
AllianceBernstein Exchange Reserves-Class I,
0.17% (c) (cost $1,728,506)		1,728,506		1,728,506
Total Investments - 102.0% (cost $787,967,454) (d)				929,980,569
Other assets less liabilities - (2.0)%				(18,170,081	)
Net Assets - 100.0%			$	911,810,488

(a) Non-income producing security.

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

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

(d) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $151,008,567 and gross unrealized depreciation of investments was $(8,995,452), resulting in net unrealized appreciation of $142,013,115.

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.

AllianceBernstein Variable Products Series Fund

Growth & Income Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks*

$

857,448,203

$

– 0

–

$

– 0

–

$

857,448,203

Rights

286,019

– 0

–

– 0

–

286,019

Short-Term Investments

– 0

–

70,517,841

– 0

–

70,517,841

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

1,728,506

– 0

–

– 0

–

1,728,506

Total Investments in Securities

859,462,728

70,517,841

– 0

–

929,980,569

Other Financial Instruments**

– 0

–

– 0

–

– 0

–

– 0

–

Total^

$

859,462,728

$

70,517,841

$

– 0

–

$

929,980,569

* See Portfolio of Investments for sector classifications.

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

^ There were no transfers between Level 1 and Level 2 during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

AllianceBernstein Variable Products Series Fund

Intermediate Bond Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

	Principal Amount (000)		U.S. $ Value
CORPORATES - INVESTMENT GRADES - 28.8%
Industrial - 14.0%
Basic - 1.8%
Alcoa, Inc.
5.40%, 4/15/21	U.S.$	180	$	188,938
AngloGold Ashanti Holdings PLC
5.375%, 4/15/20		250		262,500
ArcelorMittal
6.125%, 6/01/18		280		278,166
Dow Chemical Co. (The)
4.125%, 11/15/21		85		92,486
5.25%, 11/15/41		80		90,776
7.60%, 5/15/14		81		89,495
8.55%, 5/15/19		143		191,758
Eastman Chemical Co.
2.40%, 6/01/17		41		42,821
3.60%, 8/15/22		86		90,593
International Paper Co.
7.95%, 6/15/18		196		252,264
Teck Resources Ltd.
2.50%, 2/01/18		44		44,192
4.75%, 1/15/22		134		143,472
Vale SA
5.625%, 9/11/42		285		289,936
				2,057,397
Capital Goods - 0.6%
ADT Corp. (The)
3.50%, 7/15/22 (a)		68		70,645
Embraer SA
5.15%, 6/15/22		82		88,011
Owens Corning
6.50%, 12/01/16		160		179,667
Republic Services, Inc.
5.25%, 11/15/21		150		177,568
5.50%, 9/15/19		160		189,471
				705,362
Communications - Media - 2.9%
CBS Corp.
3.375%, 3/01/22		226		236,121
5.75%, 4/15/20		83		100,255
Comcast Cable Communications Holdings, Inc.
9.455%, 11/15/22		280		418,050
DirecTV Holdings LLC/DirecTV Financing Co., Inc.
3.50%, 3/01/16		95		101,092
3.80%, 3/15/22		165		169,796
4.75%, 10/01/14		160		171,588
Globo Comunicacao e Participacoes SA
5.307%, 5/11/22 (a)(b)		305		331,687
News America, Inc.
4.50%, 2/15/21		300		338,584
Omnicom Group, Inc.
3.625%, 5/01/22		103		108,789

	Principal Amount (000)		U.S. $ Value
Reed Elsevier Capital, Inc.
8.625%, 1/15/19	U.S.$	250	$	321,083
TCI Communications, Inc.
7.875%, 2/15/26		115		165,613
Time Warner Entertainment Co. LP
8.375%, 3/15/23		326		459,275
WPP Finance UK
8.00%, 9/15/14		315		353,614
				3,275,547
Communications - Telecommunications - 1.2%
American Tower Corp.
5.05%, 9/01/20		260		290,162
AT&T Corp.
8.00%, 11/15/31		20		30,739
AT&T, Inc.
4.45%, 5/15/21		177		208,298
British Telecommunications PLC
2.00%, 6/22/15		215		221,057
Deutsche Telekom International Finance BV
4.875%, 3/06/42 (a)		320		344,051
Telecom Italia Capital SA
6.375%, 11/15/33		40		36,500
Telefonica Emisiones SAU
5.462%, 2/16/21		120		117,600
United States Cellular Corp.
6.70%, 12/15/33		80		82,040
				1,330,447
Consumer Cyclical - Automotive - 0.5%
Ford Motor Credit Co. LLC
5.00%, 5/15/18		250		272,931
Harley-Davidson Funding Corp.
5.75%, 12/15/14 (a)		300		327,005
				599,936
Consumer Cyclical - Entertainment - 0.5%
Time Warner, Inc.
7.625%, 4/15/31		325		453,998
Viacom, Inc.
5.625%, 9/15/19		60		72,160
				526,158
Consumer Cyclical - Other - 0.3%
Marriott International, Inc./DE
Series J
5.625%, 2/15/13		372		378,289
Consumer Cyclical - Retailers - 0.5%
CVS Caremark Corp.
6.60%, 3/15/19		180		230,032
Macy’s Retail Holdings, Inc.
3.875%, 1/15/22		290		312,637
				542,669

	Principal Amount (000)		U.S. $ Value
Consumer Non-Cyclical - 1.5%
Ahold Finance USA LLC
6.875%, 5/01/29	U.S.$	290	$	362,212
Bunge Ltd. Finance Corp.
5.10%, 7/15/15		206		221,296
Cadbury Schweppes US Finance LLC
5.125%, 10/01/13 (a)		350		364,037
Delhaize Group SA
5.875%, 2/01/14		105		110,316
Kroger Co. (The)
3.40%, 4/15/22		206		214,555
Laboratory Corp. of America Holdings
2.20%, 8/23/17		71		72,517
3.75%, 8/23/22		36		37,671
Tyson Foods, Inc.
4.50%, 6/15/22		134		140,365
Watson Pharmaceuticals, Inc.
3.25%, 10/01/22		100		99,165
				1,622,134
Energy - 2.5%
Anadarko Petroleum Corp.
6.45%, 9/15/36		124		153,629
Encana Corp.
3.90%, 11/15/21		375		396,304
Marathon Petroleum Corp.
3.50%, 3/01/16		50		53,018
5.125%, 3/01/21		209		241,172
Nabors Industries, Inc.
9.25%, 1/15/19		254		332,415
Noble Energy, Inc.
8.25%, 3/01/19		316		409,160
Noble Holding International Ltd.
4.90%, 8/01/20		32		35,746
Phillips 66
4.30%, 4/01/22 (a)		320		350,449
Southwestern Energy Co.
4.10%, 3/15/22 (a)		88		93,402
Transocean, Inc.
2.50%, 10/15/17		126		126,677
Valero Energy Corp.
6.125%, 2/01/20		177		214,992
Weatherford International Ltd./Bermuda
5.125%, 9/15/20		95		103,859
6.00%, 3/15/18		12		13,744
9.625%, 3/01/19		190		247,309
				2,771,876
Technology - 0.8%
Agilent Technologies, Inc.
5.00%, 7/15/20		64		73,364
Hewlett-Packard Co.
4.65%, 12/09/21		162		168,916
Motorola Solutions, Inc.
7.50%, 5/15/25		25		31,150
Telefonaktiebolaget LM Ericsson
4.125%, 5/15/22		300		309,320

	Principal Amount (000)		U.S. $ Value
Xerox Corp.
8.25%, 5/15/14	U.S.$	295	$	327,233
				909,983
Transportation - Airlines - 0.3%
Southwest Airlines Co.
5.25%, 10/01/14		210		225,460
5.75%, 12/15/16		75		85,746
				311,206
Transportation - Services - 0.6%
Asciano Finance Ltd.
3.125%, 9/23/15 (a)		310		314,554
Con-way, Inc.
6.70%, 5/01/34		138		148,964
Ryder System, Inc.
5.85%, 11/01/16		116		132,854
7.20%, 9/01/15		108		125,274
				721,646
				15,752,650
Financial Institutions - 10.7%
Banking - 6.7%
Bank of America Corp.
5.875%, 2/07/42		298		348,335
Series L
5.65%, 5/01/18		400		456,070
Barclays Bank PLC
6.625%, 3/30/22 (a)	EUR	180		242,643
Bear Stearns Cos. LLC (The)
5.70%, 11/15/14	U.S.$	450		492,787
Citigroup, Inc.
4.50%, 1/14/22		85		93,329
8.50%, 5/22/19		340		449,652
Compass Bank
5.50%, 4/01/20		250		244,943
DNB Bank ASA
3.20%, 4/03/17 (a)		310		323,764
Fifth Third Bancorp
3.50%, 3/15/22		121		128,995
Goldman Sachs Group, Inc. (The)
5.75%, 1/24/22		165		190,060
6.00%, 6/15/20		395		455,450
7.50%, 2/15/19		95		117,818
HSBC Holdings PLC
4.00%, 3/30/22		320		343,334
5.10%, 4/05/21		194		224,116
ING Bank NV
2.00%, 9/25/15 (a)		280		279,529
JPMorgan Chase & Co.
4.40%, 7/22/20		305		335,679
4.50%, 1/24/22		25		27,731
Macquarie Bank Ltd.
5.00%, 2/22/17 (a)		82		87,584

	Principal Amount (000)		U.S. $ Value
Macquarie Group Ltd.
4.875%, 8/10/17 (a)	U.S.$	232	$	244,041
Morgan Stanley
5.50%, 7/24/20		240		259,130
6.625%, 4/01/18		295		338,937
Series G
5.50%, 7/28/21		133		145,554
National Capital Trust II
5.486%, 3/23/15 (a)		122		123,382
National Westminster Bank PLC
6.50%, 9/07/21	GBP	50		81,302
Nationwide Building Society
6.25%, 2/25/20 (a)	U.S.$	330		378,541
Santander US Debt SAU
2.991%, 10/07/13 (a)		400		399,364
Societe Generale SA
2.50%, 1/15/14 (a)		205		205,451
UBS AG/Stamford CT
7.625%, 8/17/22		250		258,034
Unicredit Luxembourg Finance SA
6.00%, 10/31/17 (a)		190		180,575
Vesey Street Investment Trust I
4.404%, 9/01/16		98		104,511
				7,560,641
Finance - 0.5%
General Electric Capital Corp.
4.65%, 10/17/21		127		142,338
SLM Corp.
7.25%, 1/25/22		145		162,400
Series A
5.375%, 5/15/14		248		261,212
				565,950
Insurance - 2.5%
Allstate Corp. (The)
6.125%, 5/15/37		237		244,110
American International Group, Inc.
4.875%, 6/01/22		75		84,522
6.40%, 12/15/20		215		261,890
Coventry Health Care, Inc.
6.30%, 8/15/14		280		305,894
Guardian Life Insurance Co. of America
7.375%, 9/30/39 (a)		164		216,425
Hartford Financial Services Group, Inc.
4.00%, 3/30/15		85		89,626
5.50%, 3/30/20		200		226,342
Humana, Inc.
6.30%, 8/01/18		50		58,433
7.20%, 6/15/18		85		103,016
Lincoln National Corp.
8.75%, 7/01/19		113		148,061
Markel Corp.
7.125%, 9/30/19		131		157,640
Massachusetts Mutual Life Insurance Co.
8.875%, 6/01/39 (a)		110		162,299

	Principal Amount (000)		U.S. $ Value
MetLife, Inc.
7.717%, 2/15/19	U.S.$	109	$	141,997
10.75%, 8/01/39		85		126,225
Nationwide Mutual Insurance Co.
9.375%, 8/15/39 (a)		225		307,879
WellPoint, Inc.
3.30%, 1/15/23		101		102,154
XL Group PLC
5.25%, 9/15/14		110		117,480
				2,853,993
Other Finance - 0.3%
ORIX Corp.
4.71%, 4/27/15		283		300,934
REITS - 0.7%
HCP, Inc.
5.375%, 2/01/21		327		373,049
Health Care REIT, Inc.
5.25%, 1/15/22		325		365,970
				739,019
				12,020,537
Utility - 3.6%
Electric - 1.5%
Constellation Energy Group, Inc.
5.15%, 12/01/20		64		75,224
FirstEnergy Corp.
Series C
7.375%, 11/15/31		220		288,170
MidAmerican Energy Holdings Co.
6.125%, 4/01/36		260		332,638
Nisource Finance Corp.
6.80%, 1/15/19		240		289,767
Pacific Gas & Electric Co.
4.50%, 12/15/41		125		138,092
SPI Electricity & Gas Australia Holdings Pty Ltd.
6.15%, 11/15/13 (a)		235		243,350
TECO Finance, Inc.
4.00%, 3/15/16		95		102,749
5.15%, 3/15/20		120		139,833
Union Electric Co.
6.70%, 2/01/19		45		57,551
				1,667,374
Natural Gas - 2.1%
DCP Midstream LLC
5.35%, 3/15/20 (a)		108		118,499
Energy Transfer Partners LP
7.50%, 7/01/38		336		398,328
Enterprise Products Operating LLC
5.20%, 9/01/20		55		64,790
EQT Corp.
8.125%, 6/01/19		205		248,170
Kinder Morgan Energy Partners LP

	Principal Amount (000)		U.S. $ Value
3.95%, 9/01/22	U.S.$	321	$	344,825
4.15%, 3/01/22		89		96,145
ONEOK, Inc.
4.25%, 2/01/22		310		336,398
Talent Yield Investments Ltd.
4.50%, 4/25/22 (a)		305		329,932
TransCanada PipeLines Ltd.
6.35%, 5/15/67		235		251,291
Williams Partners LP
5.25%, 3/15/20		173		200,476
				2,388,854
				4,056,228
Non Corporate Sectors - 0.5%
Agencies-Not Government Guaranteed - 0.5%
Gazprom OAO Via Gaz Capital SA
6.212%, 11/22/16 (a)		215		238,930
Petrobras International Finance Co.-Pifco
5.75%, 1/20/20		275		313,444
				552,374
Total Corporates - Investment Grades (cost $29,067,543)				32,381,789
MORTGAGE PASS-THROUGHS - 24.4%
Agency Fixed Rate 30-Year - 19.9%
Federal Home Loan Mortgage Corp. Gold
4.50%, 10/01/39		2,533		2,724,252
Series 2005
5.50%, 1/01/35		2,853		3,130,837
Series 2007
5.50%, 7/01/35		111		121,851
Federal National Mortgage Association
3.50%, TBA		1,530		1,636,861
4.00%, 1/01/41-12/01/41		4,256		4,591,590
4.50%, TBA		1,105		1,195,990
5.50%, 5/01/38-6/01/38		1,367		1,500,589
6.00%, 5/01/31-7/01/39		1,498		1,657,585
Series 2002
7.00%, 3/01/32		18		21,547
Series 2003
5.00%, 11/01/33		108		118,899
5.50%, 4/01/33-7/01/33		381		422,820
Series 2004
5.50%, 4/01/34-11/01/34		347		383,900
6.00%, 9/01/34		195		219,207
Series 2005
4.50%, 8/01/35		319		345,450
5.00%, 10/01/35		854		930,886
5.50%, 2/01/35		422		468,663
Series 2006
5.00%, 2/01/36		172		188,471
Series 2007
4.50%, 9/01/35-8/01/37		435		472,596
5.00%, 7/01/36		133		145,546
Series 2008

	Principal Amount (000)		U.S. $ Value
6.00%, 3/01/37	U.S.$	1,393	$	1,551,427
Series 2010
6.00%, 2/01/40-4/01/40		481		531,208
Government National Mortgage Association Series 1994
9.00%, 9/15/24		2		1,662
				22,361,837
Agency Fixed Rate 15-Year - 3.9%
Federal National Mortgage Association
3.00%, TBA		1,240		1,314,400
4.50%, TBA		915		987,199
4.50%, 6/01/26		1,907		2,064,881
				4,366,480
Agency ARMs - 0.6%
Federal Home Loan Mortgage Corp.
4.432%, 11/01/35 (c)		239		254,753
Federal National Mortgage Association Series 2003
2.78%, 12/01/33 (d)		163		174,822
Series 2007
2.336%, 3/01/34 (d)		292		308,568
				738,143
Total Mortgage Pass-Throughs (cost $26,237,326)				27,466,460
GOVERNMENTS-TREASURIES - 15.5%
United States - 15.5%
U.S. Treasury Bonds
2.75%, 8/15/42		165		162,267
3.00%, 5/15/42		680		705,075
4.50%, 2/15/36		1,160		1,547,512
4.625%, 2/15/40		2,935		4,028,288
U.S. Treasury Notes
0.625%, 8/31/17		695		695,434
0.75%, 6/30/17		480		483,637
1.00%, 8/31/16		8,505		8,685,731
1.625%, 8/15/22		1,080		1,078,819
Total Governments-Treasuries (cost $16,119,849)				17,386,763
ASSET-BACKED SECURITIES - 10.3%
Autos-Fixed Rate - 5.4%
Ally Auto Receivables Trust
Series 2012-1, Class A2
0.71%, 9/15/14		315		315,497
Ally Master Owner Trust
Series 2010-3, Class A
2.88%, 4/15/15 (a)		340		342,937
AmeriCredit Automobile Receivables Trust
Series 2011-5, Class A2
1.19%, 8/08/15		124		124,901

	Principal Amount (000)		U.S. $ Value
Series 2012-3, Class A3
0.96%, 1/09/17	U.S.$	355	$	357,254
Series 2012-4, Class A2
0.49%, 4/08/16		420		420,013
Avis Budget Rental Car Funding AESOP LLC
Series 2012-3A, Class A
2.10%, 3/20/19 (a)		210		214,208
Bank of America Auto Trust
Series 2012-1, Class A4
1.03%, 12/15/16		245		248,377
CarMax Auto Owner Trust
Series 2011-3, Class A3
1.07%, 6/15/16		176		176,939
Series 2012-1, Class A3
0.89%, 9/15/16		160		161,186
Exeter Automobile Receivables Trust
Series 2012-1A, Class A
2.02%, 8/15/16 (a)		185		185,394
Series 2012-2A, Class A
1.30%, 6/15/17 (a)		270		269,973
Ford Auto Securitization Trust
Series 2011-R3A, Class A2
1.96%, 7/15/15 (a)	CAD	521		531,679
Ford Credit Auto Lease Trust
Series 2012-B, Class A2
0.54%, 11/15/14	U.S.$	289		289,024
Ford Credit Floorplan Master Owner Trust
Series 2012-4, Class A1
0.74%, 9/15/16		640		639,902
Harley-Davidson Motorcycle Trust
Series 2012-1, Class A3
0.68%, 4/15/17		195		195,764
Navistar Financial Corp. Owner Trust
Series 2012-A, Class A2
0.85%, 3/18/15 (a)		356		356,449
Nissan Auto Lease Trust
Series 2012-A, Class A2A
0.68%, 7/15/14		285		285,844
Porsche Innovative Lease Owner Trust
Series 2011-1, Class A3
1.09%, 9/22/14 (a)		455		456,271
Santander Drive Auto Receivables Trust
Series 2012-3, Class A3
1.08%, 4/15/16		325		327,119
Series 2012-4, Class A2
0.79%, 8/17/15		221		221,684
				6,120,415
Credit Cards-Fixed Rate - 1.7%
American Express Credit Account Master Trust
Series 2012-2, Class A
0.68%, 3/15/18		620		622,100
Discover Card Master Trust
Series 2012-A1, Class A1
0.81%, 8/15/17		224		225,918

	Principal Amount (000)		U.S. $ Value
Series 2012-A3, Class A3
0.86%, 11/15/17	U.S.$	300	$	302,752
GE Capital Credit Card Master Note Trust
Series 2012-6, Class A
1.36%, 8/17/20		570		575,079
World Financial Network Credit Card Master Trust
Series 2012-B, Class A
1.76%, 5/17/21		190		191,175
				1,917,024
Credit Cards - Floating Rate - 1.0%
American Express Credit Account Master Trust
Series 2011-1, Class A
0.391%, 4/17/17 (c)		455		455,999
Gracechurch Card Funding PLC
Series 2012-1A, Class A1
0.921%, 2/15/17 (a)(c)		320		320,763
Penarth Master Issuer PLC
Series 2012-1A, Class A1
0.79%, 3/18/14 (a)(c)		335		335,344
				1,112,106
Autos - Floating Rate - 0.8%
BMW Floorplan Master Owner Trust
Series 2012-1A, Class A
0.619%, 9/15/17 (a)(c)		303		303,006
Ford Credit Floorplan Master Owner Trust
Series 2010-3, Class A2
1.921%, 2/15/17 (a)(c)		430		442,597
Series 2012-1, Class A
0.691%, 1/15/16 (c)		130		130,547
				876,150
Other ABS - Fixed Rate - 0.7%
CNH Equipment Trust
Series 2010-C, Class A3
1.17%, 5/15/15		170		171,085
Series 2012-A, Class A3
0.94%, 5/15/17		241		243,250
GE Equipment Midticket LLC
Series 2011-1, Class A3
1.00%, 8/24/15		155		155,902
GE Equipment Small Ticket LLC
Series 2011-2A, Class A2
1.14%, 6/23/14 (a)		202		202,057
				772,294
Other ABS - Floating Rate - 0.4%
GE Dealer Floorplan Master Note Trust
Series 2012-3, Class A
0.709%, 6/20/17 (c)		485		487,400

	Principal Amount (000)		U.S. $ Value
Home Equity Loans - Fixed Rate - 0.2%
Citifinancial Mortgage Securities, Inc.
Series 2003-1, Class AFPT
3.86%, 1/25/33	U.S.$	59	$	60,226
Credit-Based Asset Servicing and Securitization LLC
Series 2003-CB1, Class AF
3.95%, 1/25/33		136		132,814
				193,040
Home Equity Loans - Floating Rate - 0.1%
Asset Backed Funding Certificates
Series 2003-WF1, Class A2
1.342%, 12/25/32 (c)		65		59,811
HSBC Home Equity Loan Trust
Series 2005-3, Class A1
0.479%, 1/20/35 (c)		84		80,791
Option One Mortgage Loan Trust
Series 2007-2, Class M1
0.577%, 3/25/37 (c)(e)		98		265
				140,867
Total Asset-Backed Securities (cost $11,678,695)				11,619,296
COMMERCIAL MORTGAGE-BACKED SECURITIES - 7.3%
Non-Agency Fixed Rate CMBS - 7.3%
Banc of America Merrill Lynch Commercial Mortgage, Inc.
Series 2006-5, Class A4
5.414%, 9/10/47		455		516,742
CW Capital Cobalt Ltd.
Series 2007-C3, Class A4
5.998%, 5/15/46		330		384,770
Greenwich Capital Commercial Funding Corp.
Series 2005-GG5, Class AJ
5.427%, 4/10/37		235		176,146
Series 2007-GG9, Class A4
5.444%, 3/10/39		585		667,966
GS Mortgage Securities Corp. II
Series 2004-GG2, Class A6
5.396%, 8/10/38		300		321,203
JP Morgan Chase Commercial Mortgage Securities Corp.
Series 2006-CB14, Class A4
5.481%, 12/12/44		545		614,339
Series 2007-LD11, Class A4
6.003%, 6/15/49		550		636,612
Series 2007-LD12, Class AM
6.247%, 2/15/51		165		175,296
Series 2010-C2, Class A1
2.749%, 11/15/43 (a)		260		272,894
LB-UBS Commercial Mortgage Trust
Series 2004-C4, Class A4
5.446%, 6/15/29		830		886,849
Series 2006-C1, Class A4
5.156%, 2/15/31		1,240		1,390,491

	Principal Amount (000)		U.S. $ Value
Merrill Lynch Mortgage Trust
Series 2005-CIP1, Class A2
4.96%, 7/12/38	U.S.$	289	$	294,609
Merrill Lynch/Countrywide Commercial Mortgage Trust
Series 2006-3, Class A2
5.291%, 7/12/46		648		664,314
Series 2007-9, Class A4
5.70%, 9/12/49		1,105		1,254,019
Total Commercial Mortgage-Backed Securities (cost $7,492,058)				8,256,250
AGENCIES - 6.4%
Agency Debentures - 4.9%
Federal National Mortgage Association
6.25%, 5/15/29		1,670		2,447,190
6.625%, 11/15/30		80		122,761
Residual Funding Corp. Principal Strip Zero Coupon, 7/15/20		3,365		2,972,341
				5,542,292
Agency Subordinated - 1.5%
Federal Home Loan Mortgage Corp.
2.375%, 1/13/22		1,606		1,684,758
Total Agencies (cost $6,393,662)				7,227,050
QUASI-SOVEREIGNS - 1.7%
Quasi-Sovereign Bonds - 1.7%
Indonesia - 0.4%
Perusahaan Listrik Negara PT
5.50%, 11/22/21 (a)		360		402,750
Kazakhstan - 0.2%
KazMunayGas National Co.
7.00%, 5/05/20 (a)		212		260,230
Malaysia - 0.5%
Petronas Capital Ltd.
5.25%, 8/12/19 (a)		420		497,102
South Korea - 0.3%
Korea National Oil Corp.
3.125%, 4/03/17 (a)		310		325,730
United Arab Emirates - 0.3%
IPIC GMTN Ltd.
3.75%, 3/01/17 (a)		360		378,720
Total Quasi-Sovereigns (cost $1,656,344)				1,864,532

	Principal Amount (000)		U.S. $ Value
CORPORATES - NON-INVESTMENT GRADES - 1.5%
Industrial - 1.0%
Basic - 0.2%
LyondellBasell Industries NV
5.75%, 4/15/24	U.S.$	200	$	227,500
Capital Goods - 0.4%
B/E Aerospace, Inc.
5.25%, 4/01/22		190		197,600
Ball Corp.
5.00%, 3/15/22		195		204,262
				401,862
Consumer Cyclical - Entertainment - 0.0%
Greektown Holdings LLC
10.75%, 12/01/13 (e)(f)(g)		55		0
Consumer Cyclical - Other - 0.3%
Host Hotels & Resorts LP
5.25%, 3/15/22 (a)		125		135,000
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.375%, 3/15/22 (a)		190		195,700
				330,700
Consumer Cyclical - Retailers - 0.0%
Dollar General Corp.
4.125%, 7/15/17		50		52,250
Energy - 0.1%
Cimarex Energy Co.
5.875%, 5/01/22		93		98,115
				1,110,427
Financial Institutions - 0.4%
Banking - 0.3%
ABN Amro Bank NV
4.31%, 3/10/16	EUR	125		119,670
LBG Capital No.1 PLC
8.00%, 6/15/20 (a)	U.S.$	175		167,457
				287,127
Other Finance - 0.1%
Aviation Capital Group Corp.
7.125%, 10/15/20 (a)		155		163,124
				450,251
Utility - 0.1%
Electric - 0.1%
CMS Energy Corp.
5.05%, 3/15/22		98		107,942
Total Corporates - Non-Investment Grades (cost $1,400,292)				1,668,620

	Principal Amount (000)		U.S. $ Value
COLLATERALIZED MORTGAGE OBLIGATIONS - 0.5%
Non-Agency Fixed Rate - 0.3%
Citigroup Mortgage Loan Trust, Inc.
Series 2005-2, Class 1A4
2.745%, 5/25/35	U.S.$	162	$	157,092
JP Morgan Alternative Loan Trust
Series 2006-A3, Class 2A1
2.93%, 7/25/36		298		180,507
				337,599
Non-Agency Floating Rate - 0.2%
Countrywide Alternative Loan Trust
Series 2005-62, Class 2A1
1.148%, 12/25/35 (c)		80		56,121
WaMu Mortgage Pass Through Certificates
Series 2007-OA1, Class A1A
0.848%, 2/25/47 (c)		249		172,162
				228,283
Agency Fixed Rate - 0.0%
Fannie Mae Grantor Trust
Series 2004-T5, Class AB4
0.865%, 5/28/35		50		43,390
Total Collateralized Mortgage Obligations (cost $839,788)				609,272
LOCAL GOVERNMENTS-MUNICIPAL BONDS - 0.5%
United States - 0.5%
California GO
7.625%, 3/01/40 (cost $413,383)		405		551,027
GOVERNMENTS - SOVEREIGN BONDS - 0.4%
Qatar - 0.4%
State of Qatar
4.50%, 1/20/22 (a) (cost $356,470)		360		406,800
	Shares
PREFERRED STOCKS - 0.1%
Financial Institutions - 0.1%
REITS - 0.1%
Sovereign Real Estate Investment Trust
12.00% (a) (cost $87,659)		93		112,244

	Principal Amount (000)		U.S. $ Value
GOVERNMENTS - SOVEREIGN AGENCIES - 0.1%
Germany - 0.1%
Landwirtschaftliche Rentenbank
5.125%, 2/01/17 (cost $71,245)	U.S.$	70	$	82,642
	Shares
COMMON STOCKS - 0.0%
Greektown Superholdings, Inc. (e)(f)(g)		41		2,460
Voyager Learning Exchange (e)(f)(h)		70,000		0
Total Common Stocks (cost $4)				2,460
WARRANTS - 0.0%
Talon Equity Co., expiring 11/15/24 (e)(f)(g) (cost $0)		47		0
	Principal Amount (000)
SHORT-TERM INVESTMENTS - 6.4%
Time Deposit - 3.3%
State Street Time Deposit
0.01%, 10/01/12 (cost $3,763,076)	U.S.$	3,763		3,763,076
Treasury Bill - 3.1%
Japan Treasury Discount Bill
Series 292
Zero Coupon, 10/09/12 (cost $3,450,185)	JPY	270,000		3,459,690
Total Short-Term Investments (cost $7,213,261)				7,222,766
Total Investments - 103.9% (cost $109,027,579) (i)				116,857,971
Other assets less liabilities - (3.9)% (j)				(4,345,886	)
Net Assets - 100.0%			$	112,512,085

FUTURES CONTRACTS

Type	Number of Contracts		Expiration Month		Original Value		Value at September 30, 2012		Unrealized Appreciation/ (Depreciation)
Sold Contracts
U.S. T-Note 2 Yr Futures		11		December 2012	$	2,424,794	$	2,425,844	$	(1,050	)

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts  to Deliver (000)		In  Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Citibank NA		CAD 520		USD 532		11/09/12	$	3,789
Credit Suisse London Branch (GFX)		JPY 270,000		USD 3,449		10/09/12		(11,115	)
Credit Suisse London Branch (GFX)		USD 573		MXN 7,327		10/18/12		(4,509	)
Credit Suisse London Branch (GFX)		EUR 1,198		USD 1,564		10/24/12		24,665
Royal Bank of Canada		CAD 555		USD 565		11/09/12		1,439
State Street Bank & Trust Co.		GBP 59		USD 95		10/24/12		535
							$	14,804

INTEREST RATE SWAP CONTRACTS

					Rate Type
Swap Counterparty	Notional Amount (000)		Termination Date		Payments made by the Fund			Payments received by the Fund		Unrealized Appreciation/ (Depreciation)
JPMorgan Chase Bank, NA	$	1,390		1/30/17		1.059	%		3 Month LIBOR	$	(26,492	)
JPMorgan Chase Bank, NA		1,520		2/7/22		2.043	%		3 Month LIBOR		(62,777	)
										$	(89,269	)

CREDIT DEFAULT SWAP CONTRACTS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Implied Credit Spread at September 30, 2012			Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
Barclays Bank PLC.: Bank of America Corp., 5.65% 5/01/18, 9/20/17*		1.00	%		1.69	%	$	80	$	(2,595	)	$	(5,518	)	$	2,923
Credit Suisse International: Anadarko Petroleum Corp., 5.95% 9/15/16, 9/20/17*		1.00			1.78			270		(9,972	)		(9,445	)		(527	)
									$	(12,567	)	$	(14,963	)	$	2,396

(a) 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 September 30, 2012, the aggregate market value of these securities amounted to $13,556,447 or 12.0% of net assets.

(b) Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at September 30, 2012.

(c) Floating Rate Security. Stated interest rate was in effect at September 30, 2012.

(d) Variable rate coupon, rate shown as of September 30, 2012.

(e) Illiquid security.

(f) Fair valued.

(g) Non-income producing security.

(h) Security is in default and is non-income producing.

(i) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $8,238,909 and gross unrealized depreciation of investments was $(408,517), resulting in net unrealized appreciation of $7,830,392.

(j) An amount of U.S. $3,025 has been segregated to collateralize margin requirements for the open futures contracts at September 30, 2012.

Currency Abbreviations:

CAD	-	Canadian Dollar
EUR	-	Euro
GBP	-	Great British Pound
JPY	-	Japanese Yen
MXN	-	Mexican Peso
USD	-	United States Dollar

Glossary:

ABS	-	Asset-Backed Securities
ARMs	-	Adjustable Rate Mortgages
CMBS	-	Commercial Mortgage-Backed Securities
GO	-	General Obligation
LIBOR	-	London Interbank Offered Rates
REIT	-	Real Estate Investment Trust
TBA	-	To Be Announced

AllianceBernstein Variable Products Series Fund

Intermediate Bond Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Corporates - Investment Grades

$

99,165

$

32,282,624

$

– 0

–

$

32,381,789

Mortgage Pass-Throughs

– 0

–

27,466,460

– 0

–

27,466,460

Governments - Treasuries

– 0

–

17,386,763

– 0

–

17,386,763

Asset-Backed Securities

– 0

–

10,025,695

1,593,601

11,619,296

Commercial Mortgage-Backed Securities

– 0

–

7,268,196

988,054

8,256,250

Agencies

– 0

–

7,227,050

– 0

–

7,227,050

Quasi-Sovereigns

– 0

–

1,864,532

– 0

–

1,864,532

Corporates - Non-Investment Grades

– 0

–

1,668,620

– 0

–^

1,668,620

Collateralized Mortgage Obligations

– 0

–

– 0

–

609,272

609,272

Local Governments - Municipal Bonds

– 0

–

551,027

– 0

–

551,027

Governments - Sovereign Bonds

– 0

–

406,800

– 0

–

406,800

Preferred Stocks

– 0

–

112,244

– 0

–

112,244

Governments - Sovereign Agencies

– 0

–

82,642

– 0

–^

82,642

Common Stocks

– 0

–

– 0

–

2,460

2,460

Warrants

– 0

–

– 0

–

– 0

–

– 0

–

Short-Term Investments:

Time Deposit

– 0

–

3,763,076

– 0

–

3,763,076

Treasury Bill

– 0

–

3,459,690

– 0

–

3,459,690

Total Investments in Securities

99,165

113,565,419

3,193,387

116,857,971

Other Financial Instruments* :

Assets:

Forward Currency Exchange Contracts

– 0

–

30,428

– 0

–

30,428

Credit Default Swap Contracts

– 0

–

2,923

– 0

–

2,923

Liabilities:

Futures Contracts

(1,050

)

– 0

–

– 0

–

(1,050

)

Forward Currency Exchange Contracts

– 0

–

(15,624

)

– 0

–

(15,624

)

Interest Rate Swap Contracts

– 0

–

(89,269

)

– 0

–

(89,269

)

Credit Default Swap Contracts

– 0

–

(527

)

– 0

–

(527

)

Total

$

98,115

$

113,493,350

$

3,193,387

$

116,784,852

^ The Portfolio held securities with zero market value at period end.

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

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

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

	Asset-Backed Securities			Commercial Mortgage- Backed Securities			Corporates - Non- Investment Grades^
Balance as of 12/31/11	$	1,028,906		$	1,587,514		$	– 0	–
Accrued discounts/(premiums)		107			15,461			– 0	–
Realized gain (loss)		(57,748	)		71,682			– 0	–
Change in unrealized appreciation/depreciation		108,851			9,418			– 0	–
Purchases		726,114			776,499			– 0	–
Sales		(212,629	)		(296,441	)		– 0	–
Transfers in to Level 3		– 0	–		– 0	–		– 0	–
Transfers out of Level 3		– 0	–		(1,176,079	)		– 0	–
Balance as of 9/30/12	$	1,593,601		$	988,054		$	– 0	–
Net change in unrealized appreciation/depreciation from Investments held as of 9/30/12	$	108,851		$	61,446		$	– 0	–
	Collateralized Mortgage Obligations			Common Stocks			Warrants^
Balance as of 12/31/11	$	776,784		$	2,870		$	– 0	–
Accrued discounts/(premiums)		5			– 0	–		– 0	–
Realized gain (loss)		(247,748	)		– 0	–		– 0	–
Change in unrealized appreciation/depreciation		410,709			(410	)		– 0	–
Purchases		– 0	–		– 0	–		– 0	–
Sales		(365,902	)		– 0	–		– 0	–
Transfers in to Level 3		35,424			– 0	–		– 0	–
Transfers out of Level 3		– 0	–		– 0	–		– 0	–
Balance as of 9/30/12	$	609,272		$	2,460		$	– 0	–
Net change in unrealized appreciation/depreciation from Investments held as of 9/30/12	$	137,158		$	(410	)	$	– 0	–
	Total
Balance as of 12/31/11	$	3,396,074
Accrued discounts/(premiums)		15,573
Realized gain (loss)		(233,814	)
Change in unrealized appreciation/depreciation		528,568
Purchases		1,502,613
Sales		(874,972	)
Transfers in to Level 3*		35,424
Transfers out of Level 3+		(1,176,079	)
Balance as of 9/30/12	$	3,193,387
Net change in unrealized appreciation/depreciation from Investments held as of 9/30/12	$	307,045

^ The Portfolio held securities with zero market value at period end.

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

+ Transferred out of Level 3 into Level 2 due to increase in observable inputs.

AllianceBernstein Variable Products Series Fund

International Growth Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 97.5%
Financials - 18.4%
Capital Markets - 4.5%
Aberdeen Asset Management PLC		405,820	$	2,041,888
Azimut Holding SpA		67,615		781,951
Partners Group Holding AG		19,973		4,158,151
				6,981,990
Commercial Banks - 6.4%
Bangkok Bank PCL (NVDR)		299,300		1,881,567
Bank Mandiri Persero TBK PT		1,179,500		1,006,479
Bank Rakyat Indonesia Persero Tbk PT		900,000		697,562
HDFC Bank Ltd.		69,280		823,522
HSBC Holdings PLC		213,871		1,986,808
Itausa - Investimentos Itau SA (Preference Shares)		153,355		683,091
Sberbank of Russia (Sponsored ADR)		103,518		1,205,985
United Overseas Bank Ltd.		103,000		1,642,539
				9,927,553
Consumer Finance - 0.3%
Muthoot Finance Ltd.		148,990		507,383
Diversified Financial Services - 2.1%
Deutsche Boerse AG		19,630		1,086,279
FirstRand Ltd.		246,320		825,590
IG Group Holdings PLC		173,898		1,254,343
				3,166,212
Insurance - 4.2%
AIA Group Ltd.		858,200		3,163,495
Prudential PLC		249,600		3,241,121
				6,404,616
Real Estate Management & Development - 0.4%
BR Malls Participacoes SA		47,800		663,742
Thrifts & Mortgage Finance - 0.5%
Housing Development Finance Corp.		53,770		784,014
				28,435,510
Consumer Staples - 14.7%
Beverages - 4.4%
Anheuser-Busch InBev NV		54,492		4,661,717
Cia de Bebidas das Americas (Preference Shares)		23,048		883,265
Pernod-Ricard SA		11,930		1,338,195
				6,883,177
Food & Staples Retailing - 1.1%
Brazil Pharma SA		107,400		643,685
Olam International Ltd. (a)		319,262		529,608
Raia Drogasil SA		44,000		505,493
				1,678,786
Food Products - 4.3%
Danone		32,076		1,973,604

Company	Shares		U.S. $ Value
Nestle SA		73,822	$	4,657,972
				6,631,576
Household Products - 1.5%
Reckitt Benckiser Group PLC		41,030		2,363,921
Tobacco - 3.4%
British American Tobacco PLC		102,277		5,255,336
				22,812,796
Consumer Discretionary - 13.8%
Automobiles - 2.4%
Nissan Motor Co., Ltd.		238,100		2,026,397
Volkswagen AG (Preference Shares)		8,849		1,617,998
				3,644,395
Distributors - 0.6%
Li & Fung Ltd.		594,000		915,980
Diversified Consumer Services - 0.3%
Estacio Participacoes SA		33,000		553,459
Hotels, Restaurants & Leisure - 0.8%
Ajisen China Holdings Ltd. (a)		365,500		241,219
Sands China Ltd.		258,000		953,562
				1,194,781
Internet & Catalog Retail - 0.7%
Rakuten, Inc. (a)		103,000		1,047,309
Media - 2.1%
Eutelsat Communications		14,304		459,581
Informa PLC		120,013		781,845
Naspers Ltd.		15,560		965,061
SES SA (FDR)		36,264		986,147
				3,192,634
Specialty Retail - 3.3%
Belle International Holdings Ltd.		485,000		873,968
Fast Retailing Co., Ltd.		5,900		1,370,205
Hennes & Mauritz AB-Class B		36,940		1,285,629
Yamada Denki Co., Ltd.		16,040		703,629
Zhongsheng Group Holdings Ltd. (a)		738,500		918,178
				5,151,609
Textiles, Apparel & Luxury Goods - 3.6%
Brunello Cucinelli SpA (b)		46,693		809,134
Cie Financiere Richemont SA		33,922		2,036,785
LVMH Moet Hennessy Louis Vuitton SA		13,070		1,962,043
Samsonite International SA		409,600		781,498
				5,589,460
				21,289,627
Information Technology - 12.0%
Electronic Equipment, Instruments & Components - 1.1%
Hon Hai Precision Industry Co., Ltd.		257,400		805,931

Company	Shares		U.S. $ Value
Murata Manufacturing Co., Ltd. (a)		17,100	$	910,344
				1,716,275
Internet Software & Services - 3.9%
Baidu, Inc. (Sponsored ADR) (b)		21,010		2,454,388
Mail.ru Group Ltd. (GDR) (c)		26,050		872,308
Tencent Holdings Ltd.		79,000		2,682,698
				6,009,394
IT Services - 0.8%
Tata Consultancy Services Ltd.		52,750		1,292,074
Semiconductors & Semiconductor Equipment - 4.6%
ARM Holdings PLC		141,735		1,322,904
ASML Holding NV		28,827		1,541,910
Samsung Electronics Co., Ltd.		3,450		4,157,589
				7,022,403
Software - 1.6%
SAP AG		34,627		2,464,173
				18,504,319
Industrials - 10.2%
Aerospace & Defense - 0.6%
Safran SA		28,260		1,016,501
Commercial Services & Supplies - 0.7%
Aggreko PLC		28,710		1,074,747
Construction & Engineering - 0.7%
Samsung Engineering Co., Ltd.		6,370		1,092,996
Electrical Equipment - 0.9%
Schneider Electric SA		23,150		1,368,706
Industrial Conglomerates - 1.0%
Bidvest Group Ltd.		60,728		1,502,316
Machinery - 2.8%
FANUC Corp.		17,800		2,865,056
Komatsu Ltd. (a)		73,800		1,446,473
				4,311,529
Professional Services - 2.2%
Experian PLC		152,118		2,532,871
Intertek Group PLC		21,370		947,435
				3,480,306
Trading Companies & Distributors - 1.3%
Wolseley PLC		45,930		1,964,698
				15,811,799
Energy - 10.2%
Energy Equipment & Services - 3.7%
Saipem SpA		39,355		1,896,531
Schlumberger Ltd.		27,370		1,979,672
Technip SA		16,100		1,788,897
				5,665,100

Company	Shares		U.S. $ Value
Oil, Gas & Consumable Fuels - 6.5%
Afren PLC (b)		260,723	$	592,405
Africa Oil Corp. (a)(b)		40,630		402,627
BG Group PLC		166,824		3,375,635
China Shenhua Energy Co., Ltd.-Class H		325,500		1,253,585
Genel Energy PLC (b)		34,080		425,125
NovaTek OAO (Sponsored GDR) (c)		8,503		1,009,224
Ophir Energy PLC (b)		56,590		555,977
Tullow Oil PLC		50,798		1,126,909
Ultrapar Participacoes SA		59,000		1,327,409
				10,068,896
				15,733,996
Materials - 8.4%
Chemicals - 5.0%
Croda International PLC		46,280		1,816,795
Israel Chemicals Ltd.		157,570		1,913,799
Lanxess AG		13,180		1,094,807
Linde AG		10,700		1,844,249
Potash Corp. of Saskatchewan, Inc.		24,130		1,048,800
				7,718,450
Containers & Packaging - 1.0%
Klabin SA (Preference Shares)		279,700		1,462,483
Metals & Mining - 2.4%
First Quantum Minerals Ltd.		83,130		1,771,512
Franco-Nevada Corp.		10,060		592,999
Kenmare Resources PLC (b)		1,211,986		770,827
Umicore SA		12,130		634,990
				3,770,328
				12,951,261
Health Care - 8.2%
Health Care Equipment & Supplies - 1.2%
Cie Generale d’Optique Essilor International SA		13,020		1,218,358
Elekta AB (a)		46,520		614,167
				1,832,525
Health Care Providers & Services - 0.6%
Fresenius Medical Care AG & Co. KGaA		12,955		950,253
Pharmaceuticals - 6.4%
Aspen Pharmacare Holdings Ltd. (b)		46,141		793,996
Bayer AG		15,797		1,358,378
Mitsubishi Tanabe Pharma Corp. (a)		47,000		713,289
Novo Nordisk A/S-Class B		10,691		1,682,484
Pharmstandard OJSC (GDR) (b)(c)		29,380		417,196
Roche Holding AG		12,860		2,405,420
Shire PLC		86,061		2,538,691
				9,909,454
				12,692,232

Company	Shares		U.S. $ Value
Utilities - 1.6%
Multi-Utilities - 1.6%
National Grid PLC		220,510	$	2,432,414
Total Common Stocks (cost $130,162,054)				150,663,954
WARRANTS - 0.5%
Information Technology - 0.5%
Electronic Equipment, Instruments & Components - 0.5%
Hon Hai Precision Industry Co., Ltd., JPMorgan Chase Bank NA, expiring 9/29/14 (b)(c) (cost $823,486)		247,180		771,202
	Principal Amount (000)
SHORT-TERM INVESTMENTS - 2.1%
Time Deposit - 2.1%
State Street Time Deposit 0.01%, 10/01/12 (cost $3,227,261)	U.S.$	3,227		3,227,261
Total Investments Before Security Lending Collateral for Securities Loaned - 100.1% (cost $134,212,801)				154,662,417
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 1.7%
Investment Companies - 1.7%
AllianceBernstein Exchange Reserves-Class I, 0.17% (d) (cost $2,698,611)		2,698,611		2,698,611
Total Investments - 101.8% (cost $136,911,412) (e)				157,361,028
Other assets less liabilities - (1.8)%				(2,841,902	)
Net Assets - 100.0%			$	154,519,126

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts  to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC Wholesale	GBP	2,877	USD	4,506		11/15/12	$	(139,018	)
Barclays Bank PLC Wholesale	USD	16,334	EUR	12,616		11/15/12		(114,379	)
BNP Paribas SA	CHF	8,417	USD	9,018		11/15/12		61,903
Citibank NA	CHF	3,521	USD	3,634		11/15/12		(112,924	)
Credit Suisse London Branch (GFX)	USD	1,179	AUD	1,135		11/15/12		(6,445	)
Deutsche Bank AG London	USD	9,404	JPY	736,567		11/15/12		37,474
Goldman Sachs Capital Markets LP	GBP	494	USD	784		11/15/12		(13,731	)

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Goldman Sachs International	GBP	1,296	USD	2,020		11/15/12	$	(72,105	)
HSBC BankUSA	USD	2,064	EUR	1,644		11/15/12		49,658
Royal Bank of Canada	CAD	2,758	USD	2,779		11/15/12		(23,919	)
Royal Bank of Canada	USD	7,136	CAD	7,092		11/15/12		70,723
Royal Bank of Scotland PLC	GBP	3,031	USD	4,908		11/15/12		14,348
Royal Bank of Scotland PLC	JPY	594,594	USD	7,586		11/15/12		(36,212	)
Royal Bank of Scotland PLC	USD	422	NOK	2,425		11/15/12		768
Royal Bank of Scotland PLC	USD	446	SEK	2,920		11/15/12		(2,388	)
State Street Bank & Trust Co.	EUR	19,179	USD	23,713		11/15/12		(944,198	)
State Street Bank & Trust Co.	USD	363	NOK	2,124		11/15/12		7,001
UBS AG	USD	6,847	NOK	40,421		11/15/12		197,041
UBS AG	USD	7,199	SEK	48,353		11/15/12		152,459
Westpac Banking Corp.	USD	11,376	AUD	11,010		11/15/12		1,217
							$	(872,727	)

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

(b) Non-income producing security.

(c) 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 September 30, 2012, the aggregate market value of these securities amounted to $3,069,930 or 2.0% of net assets.

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

(e) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $25,371,826 and gross unrealized depreciation of investments was $(4,922,210), resulting in net unrealized appreciation of $20,449,616.

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.

Currency Abbreviations:

AUD	-	Australian Dollar
CAD	-	Canadian Dollar
CHF	-	Swiss Franc
EUR	-	Euro
GBP	-	Great British Pound
JPY	-	Japanese Yen
NOK	-	Norwegian Krone
SEK	-	Swedish Krona
USD	-	United States Dollar

Glossary:

ADR	-	American Depositary Receipt
FDR	-	Fiduciary Depositary Receipt
GDR	-	Global Depositary Receipt
NVDR	-	Non Voting Depositary Receipt
OJSC	-	Open Joint Stock Company

AllianceBernstein Variable Products Series Fund

International Growth Portfolio

COUNTRY BREAKDOWN *

September 30, 2012 (unaudited)

24.3%	United Kingdom
8.6%	Switzerland
7.8%	France
7.2%	Japan
6.7%	Germany
4.9%	China
4.4%	Brazil
4.3%	Hong Kong
3.4%	Belgium
3.4%	South Korea
2.6%	South Africa
2.5%	Canada
2.3%	Russia
15.5%	Other
2.1%	Short-Term
100.0%	Total Investments

* All data are as of September 30, 2012. The Portfolio’s country breakdowns are expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. “Other” country weightings represent 2.3% or less in the following countries: Denmark, India, Indonesia, Ireland, Israel, Italy, Netherlands, Singapore, Sweden, Taiwan, Thailand and United States.

AllianceBernstein Variable Products Series Fund

International Growth Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:	Level 1			Level 2			Level 3			Total
Assets:
Common Stocks:
Financials	$	1,346,833		$	27,088,677		$	– 0	–	$	28,435,510
Consumer Staples		2,032,443			20,780,353			– 0	–		22,812,796
Consumer Discretionary		553,459			20,736,168			– 0	–		21,289,627
Information Technology		2,514,490			15,989,829			– 0	–		18,504,319
Industrials		– 0	–		15,811,799			– 0	–		15,811,799
Energy		3,799,637			11,934,359			– 0	–		15,733,996
Materials		4,875,794			8,075,467			– 0	–		12,951,261
Health Care		417,196			12,275,036			– 0	–		12,692,232
Utilities		– 0	–		2,432,414			– 0	–		2,432,414
Warrants		– 0	–		– 0	–		771,202			771,202
Short-Term Investments		– 0	–		3,227,261			– 0	–		3,227,261
Investments of Cash Collateral for Security Loaned in Affiliated Money Market Fund		2,698,611			– 0	–		– 0	–		2,698,611
Total Investments in Securities		18,238,463			138,351,363+			771,202			157,361,028
Other Financial Instruments* :
Assets:
Forward Currency Exchange Contracts		– 0	–		592,592			– 0	–		592,592
Liabilities:
Forward Currency Exchange Contracts		– 0	–		(1,465,319	)		– 0	–		(1,465,319	)
Total^	$	18,238,463		$	137,478,636		$	771,202		$	156,488,301

* 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.

^ There were no transfers between Level 1 and Level 2 during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

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

	Warrants			Total
Balance as of 12/31/11	$	765,226		$	765,226
Accrued discounts/(premiums)		– 0	–		– 0	–
Realized gain (loss)		(7,523	)		(7,523	)
Change in unrealized appreciation/depreciation		124,757			124,757
Purchases		– 0	–		– 0	–
Sales		(111,258	)		(111,258	)
Transfers into Level 3		– 0	–		– 0	–
Transfers out of Level 3		– 0	–		– 0	–
Balance as of 9/30/12	$	771,202		$	771,202
Net change in unrealized appreciation/depreciation from Investments held as of 9/30/12	$	124,757		$	124,757

AllianceBernstein Variable Products Series Fund

International Value Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 98.6%
Financials - 21.4%
Capital Markets - 3.6%
Credit Suisse Group AG (a)		530,770	$	11,222,726
Deutsche Bank AG (REG)		282,060		11,172,229
Macquarie Group Ltd.		548,240		16,075,849
				38,470,804
Commercial Banks - 11.3%
Banco do Brasil SA		835,400		10,219,716
Banco Santander Brasil SA/Brazil (ADR) (b)		347,170		2,558,643
HSBC Holdings PLC		2,286,196		21,238,189
KB Financial Group, Inc.		236,461		8,381,455
Lloyds Banking Group PLC (a)		13,229,940		8,330,304
Mitsubishi UFJ Financial Group, Inc. (b)		3,581,100		16,757,944
National Australia Bank Ltd.		642,960		16,904,586
Societe Generale SA (a)		446,224		12,645,057
Sumitomo Mitsui Financial Group, Inc. (b)		412,200		12,843,402
Turkiye Vakiflar Bankasi Tao-Class D		1,855,812		4,012,011
Westpac Banking Corp.		284,026		7,282,664
				121,173,971
Diversified Financial Services - 2.2%
ING Groep NV (a)		1,896,730		15,022,476
ORIX Corp.		87,130		8,726,907
				23,749,383
Insurance - 3.4%
Aegon NV		1,508,273		7,841,186
Allianz SE		80,640		9,617,403
Aviva PLC		2,145,780		11,087,989
Suncorp Group Ltd.		850,146		8,109,072
				36,655,650
Real Estate Management & Development - 0.9%
Evergrande Real Estate Group Ltd. (b)		9,557,000		3,755,860
New World Development Co., Ltd.		4,248,000		6,535,266
				10,291,126
				230,340,934
Consumer Discretionary - 14.0%
Auto Components - 3.7%
Cie Generale des Etablissements Michelin-Class B		163,240		12,781,969
GKN PLC		2,276,600		7,915,761
Magna International, Inc. (Toronto)-Class A		168,100		7,268,773
NGK Spark Plug Co., Ltd.		323,000		3,398,172
Valeo SA		170,050		7,860,815
				39,225,490
Automobiles - 6.8%
Bayerische Motoren Werke AG		150,230		11,016,311
Honda Motor Co., Ltd.		404,000		12,485,753
Kia Motors Corp.		40,200		2,497,760

Company	Shares		U.S. $ Value
Mazda Motor Corp. (a)		6,176,000	$	7,208,453
Nissan Motor Co., Ltd. (b)		1,915,200		16,299,685
Renault SA		163,120		7,643,167
Volkswagen AG (Preference Shares)		87,570		16,011,764
				73,162,893
Distributors - 0.6%
Imperial Holdings Ltd.		190,660		4,289,443
Jardine Cycle & Carriage Ltd.		58,000		2,263,953
				6,553,396
Household Durables - 0.4%
Sony Corp. (b)		404,500		4,729,891
Leisure Equipment & Products - 0.4%
Namco Bandai Holdings, Inc.		276,300		4,680,821
Media - 0.3%
Informa PLC		508,000		3,309,449
Specialty Retail - 1.3%
Shimamura Co., Ltd.		25,100		2,922,093
Yamada Denki Co., Ltd. (b)		247,540		10,858,867
				13,780,960
Textiles, Apparel & Luxury Goods - 0.5%
Yue Yuen Industrial Holdings Ltd.		1,459,000		4,892,892
				150,335,792
Energy - 13.3%
Energy Equipment & Services - 0.9%
Seadrill Ltd.		242,570		9,529,260
Oil, Gas & Consumable Fuels - 12.4%
BP PLC		5,911,380		41,674,488
China Petroleum & Chemical Corp.-Class H		5,186,000		4,810,462
ENI SpA		637,800		13,982,789
Gazprom OAO (Sponsored ADR)		828,610		8,360,675
JX Holdings, Inc.		1,818,800		9,935,330
LUKOIL OAO (London) (Sponsored ADR)		104,530		6,432,776
Petroleo Brasileiro SA (Sponsored ADR)		739,920		16,330,034
Royal Dutch Shell PLC (Euronext Amsterdam)-Class A		930,739		32,226,270
				133,752,824
				143,282,084
Materials - 9.4%
Chemicals - 3.5%
Agrium, Inc. (Toronto)		81,040		8,408,178
Air Water, Inc.		136,000		1,664,443
Arkema SA		10,056		941,265
Denki Kagaku Kogyo KK		773,000		2,395,552
DIC Corp.		1,449,000		2,349,963
Koninklijke DSM NV		324,425		16,183,701
OCI Co., Ltd. (b)		18,170		2,915,815
Ube Industries Ltd./Japan		1,168,000		2,508,145
				37,367,062

Company	Shares		U.S. $ Value
Construction Materials - 0.5%
Taiheiyo Cement Corp. (b)		2,229,000	$	4,798,395
Metals & Mining - 5.4%
Anglo American PLC		377,810		11,122,056
Dowa Holdings Co., Ltd.		494,000		3,420,341
Goldcorp, Inc.		101,970		4,682,053
KGHM Polska Miedz SA		142,420		6,794,561
Rio Tinto PLC		334,840		15,656,848
Vale SA (Sponsored ADR) (Local Preference Shares)		962,570		16,710,215
				58,386,074
				100,551,531
Health Care - 8.7%
Biotechnology - 0.2%
Actelion Ltd. (a)		42,106		2,110,597
Pharmaceuticals - 8.5%
AstraZeneca PLC		684,380		32,675,687
GlaxoSmithKline PLC		617,220		14,247,049
Novartis AG		340,060		20,812,849
Roche Holding AG		126,730		23,704,417
				91,440,002
				93,550,599
Telecommunication Services - 7.7%
Diversified Telecommunication Services - 4.7%
Nippon Telegraph & Telephone Corp.		496,500		23,623,499
Telecom Italia SpA (ordinary shares)		11,258,700		11,309,960
Telecom Italia SpA (savings shares)		7,794,800		6,828,118
Vivendi SA		430,616		8,391,413
				50,152,990
Wireless Telecommunication Services - 3.0%
America Movil SAB de CV Series L (ADR)		128,340		3,264,970
NTT DoCoMo, Inc. (b)		3,584		5,790,579
Vodafone Group PLC		8,319,405		23,640,672
				32,696,221
				82,849,211
Consumer Staples - 7.0%
Beverages - 0.7%
Asahi Group Holdings Ltd.		317,900		7,839,771
Food & Staples Retailing - 1.6%
Delhaize Group SA		135,534		5,234,519
Koninklijke Ahold NV		908,200		11,374,810
				16,609,329
Food Products - 0.5%
Nestle SA		92,020		5,806,217
Tobacco - 4.2%
British American Tobacco PLC		297,090		15,265,483
Imperial Tobacco Group PLC		328,360		12,164,604

Company	Shares		U.S. $ Value
Japan Tobacco, Inc.		589,600	$	17,648,924
				45,079,011
				75,334,328
Industrials - 6.9%
Aerospace & Defense - 1.3%
Safran SA		397,800		14,308,705
Airlines - 0.2%
Cathay Pacific Airways Ltd.		1,427,000		2,309,356
Building Products - 1.1%
Asahi Glass Co., Ltd.		1,829,000		12,167,292
Commercial Services & Supplies - 0.2%
Downer EDI Ltd. (a)		677,480		2,508,054
Construction & Engineering - 1.2%
Bouygues SA		505,785		12,299,291
Electrical Equipment - 0.9%
Sumitomo Electric Industries Ltd.		922,600		9,757,091
Industrial Conglomerates - 0.4%
Jardine Matheson Holdings Ltd.		73,600		4,178,086
Machinery - 0.3%
IHI Corp.		1,157,000		2,576,852
Road & Rail - 0.3%
East Japan Railway Co. (b)		44,600		2,950,962
Trading Companies & Distributors - 1.0%
Mitsubishi Corp. (b)		398,900		7,225,216
Mitsui & Co., Ltd. (b)		252,200		3,538,282
				10,763,498
				73,819,187
Information Technology - 5.9%
Computers & Peripherals - 1.3%
Fujitsu Ltd.		2,530,000		9,498,182
Wistron Corp.		3,742,788		4,481,562
				13,979,744
Electronic Equipment, Instruments & Components - 1.2%
Hon Hai Precision Industry Co., Ltd.		906,000		2,836,726
LG Display Co., Ltd. (a)		398,560		10,085,858
				12,922,584
Office Electronics - 0.8%
Konica Minolta Holdings, Inc.		1,134,000		8,723,506
Semiconductors & Semiconductor Equipment - 2.2%
Advanced Semiconductor Engineering, Inc.		6,862,043		5,250,775
GCL-Poly Energy Holdings Ltd. (b)		15,868,000		2,410,909
SK Hynix, Inc. (a)		279,050		5,671,118
Sumco Corp. (a)		404,400		2,722,409

Company	Shares		U.S. $ Value
Tokyo Electron Ltd.		158,500	$	6,752,101
				22,807,312
Software - 0.4%
Nintendo Co., Ltd.		34,600		4,394,992
				62,828,138
Utilities - 4.3%
Electric Utilities - 1.6%
EDP - Energias de Portugal SA		3,202,830		8,799,324
Electricite de France SA		420,410		8,790,708
				17,590,032
Multi-Utilities - 2.7%
E.ON AG		532,810		12,661,121
National Grid PLC		804,450		8,873,771
Veolia Environnement SA		668,030		7,187,365
				28,722,257
				46,312,289
Total Common Stocks (cost $1,095,982,872)				1,059,204,093
	Principal Amount (000)
SHORT-TERM INVESTMENTS - 0.0%
Time Deposit - 0.0%
State Street Time Deposit
0.01%, 10/01/12 (cost $315,214)	$	315		315,214
Total Investments Before Security Lending Collateral for Securities Loaned - 98.6% (cost $1,096,298,086)				1,059,519,307
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 6.6%
Investment Companies - 6.6%
AllianceBernstein Exchange Reserves-Class I, 0.17% (c) (cost $71,501,838)		71,501,838		71,501,838

	U.S. $ Value
Total Investments - 105.2%
(cost $1,167,799,924) (d)	$	1,131,021,145
Other assets less liabilities - (5.2)% (e)		(56,117,275	)
Net Assets - 100.0%	$	1,074,903,870

FUTURES CONTRACTS

Type	Number of Contracts		Expiration Month		Original Value		Value at September 30, 2012		Unrealized Appreciation/ (Depreciation)
Purchased Contracts
Euro STOXX 50 Index Futures		346		December 2012		11,334,130	$	10,915,598		(418,532	)

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC
Wholesale	USD	4,169	JPY	329,140		10/15/12	$	48,989
BNP Paribas SA	USD	49,507	SEK	348,586		10/15/12		3,540,154
BNP Paribas SA	USD	3,169	SEK	20,691		1/15/13		(29,152	)
Citibank NA	GBP	1,982	USD	3,158		10/15/12		(42,324	)
Citibank NA	JPY	4,024,859	USD	50,832		10/15/12		(747,790	)
Credit Suisse London
Branch (GFX)	JPY	3,949,883	USD	50,054		10/15/12		(565,455	)
Credit Suisse London
Branch (GFX)	USD	97,080	EUR	74,455		10/15/12		(1,389,460	)
Credit Suisse London
Branch (GFX)	USD	13,774	NOK	84,289		10/15/12		931,742
Deutsche Bank AG London	EUR	23,873	USD	29,858		10/15/12		(823,935	)
Deutsche Bank AG London	USD	4,080	CAD	4,113		10/15/12		102,284
Deutsche Bank AG London	USD	38,548	NOK	235,762		10/15/12		2,585,672
Goldman Sachs Capital
Markets LP	GBP	39,840	USD	63,693		10/15/12		(637,734	)
HSBC BankUSA	USD	5,268	GBP	3,356		10/15/12		150,672
HSBC BankUSA	USD	5,995	JPY	475,844		10/15/12		102,598
JPMorgan Chase Bank, NA	EUR	68,800	USD	84,806		10/15/12		(3,617,040	)
JPMorgan Chase Bank, NA	NOK	15,302	USD	2,612		10/15/12		(57,388	)
Royal Bank of Canada	CAD	26,743	USD	26,123		10/15/12		(1,071,377	)
Royal Bank of Canada	USD	4,837	CAD	4,864		10/15/12		108,718
Royal Bank of Canada	JPY	2,919,232	USD	37,218		1/15/13		(230,455	)
Royal Bank of Scotland PLC	EUR	10,120	USD	12,752		10/15/12		(254,450	)
Royal Bank of Scotland PLC	GBP	11,206	USD	17,498		10/15/12		(596,679	)
Royal Bank of Scotland PLC	USD	58,890	AUD	56,737		10/15/12		(98,719	)
Royal Bank of Scotland PLC	USD	99,020	GBP	63,896		10/15/12		4,155,566
Royal Bank of Scotland PLC	USD	2,917	NOK	16,720		1/15/13		(9,558	)
Standard Chartered Bank	AUD	44,479	USD	44,866		10/15/12		(1,223,175	)
State Street Bank & Trust Co.	EUR	12,663	USD	15,597		10/15/12		(678,105	)
State Street Bank & Trust Co.	USD	6,305	EUR	5,001		10/15/12		122,791
UBS AG	AUD	30,372	USD	31,555		10/15/12		83,514
UBS AG	USD	30,087	EUR	24,170		10/15/12		976,547

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
UBS AG	CHF	14,732	USD	15,897		1/15/13	$	203,431
Westpac Banking Corp.	USD	34,522	AUD	33,605		10/15/12		299,154
Westpac Banking Corp.	USD	21,277	JPY	1,681,261		10/15/12		268,672
							$	1,607,708

(a) Non-income producing security.

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

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

(d) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $89,501,941 and gross unrealized depreciation of investments was $(126,280,720), resulting in net unrealized depreciation of $(36,778,779).

(e) An amount of U.S. $834,390 has been segregated to collateralize margin requirements for the open futures contracts at September 30, 2012.

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.

Currency Abbreviations:

AUD	-	Australian Dollar
CAD	-	Canadian Dollar
CHF	-	Swiss Franc
EUR	-	Euro
GBP	-	Great British Pound
JPY	-	Japanese Yen
NOK	-	Norwegian Krone
SEK	-	Swedish Krona
USD	-	United States Dollar

Glossary:

ADR	-	American Depositary Receipt
REG	-	Registered Shares

AllianceBernstein Variable Products Series Fund

International Value Portfolio

COUNTRY BREAKDOWN *

September 30, 2012 (unaudited)

24.5%	United Kingdom
23.9%	Japan
8.8%	France
6.0%	Switzerland
5.7%	Germany
4.8%	Australia
4.8%	Netherlands
4.3%	Brazil
3.0%	Italy
2.8%	South Korea
1.9%	Canada
1.7%	Hong Kong
1.4%	Russia
6.4%	Other
0.0%	Short-Term
100.0%	Total Investments

* All data are as of September 30, 2012. The Portfolio’s country breakdowns are expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. “Other” country weightings represent 1.2% or less in the following countries: Belgium, China, Mexico, Norway, Poland, Portugal, Singapore, South Africa, Taiwan and Turkey.

AllianceBernstein Variable Products Series Fund

International Value Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks:

Financials

$

12,778,359

$

217,562,575

$

– 0

–

$

230,340,934

Consumer Discretionary

7,268,773

143,067,019

– 0

–

150,335,792

Energy

– 0

–

143,282,084

– 0

–

143,282,084

Materials

13,090,231

87,461,300

– 0

–

100,551,531

Health Care

– 0

–

93,550,599

– 0

–

93,550,599

Telecommunication Services

3,264,970

79,584,241

– 0

–

82,849,211

Consumer Staples

– 0

–

75,334,328

– 0

–

75,334,328

Industrials

– 0

–

73,819,187

– 0

–

73,819,187

Information Technology

– 0

–

62,828,138

– 0

–

62,828,138

Utilities

– 0

–

46,312,289

– 0

–

46,312,289

Short-Term Investments

– 0

–

315,214

– 0

–

315,214

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

71,501,838

– 0

–

– 0

–

71,501,838

Total Investments in Securities

107,904,171

1,023,116,974+

– 0

–

1,131,021,145

Other Financial Instruments* :

Assets:

Forward Currency Exchange Contracts

– 0

–

13,680,504

– 0

–

13,680,504

Liabilities:

Futures Contracts

(418,532

)

– 0

–

– 0

–

(418,532

)

Forward Currency Exchange Contracts

– 0

–

(12,072,796

)

– 0

–

(12,072,796

)

Total^

$

107,485,639

$

1,024,724,682

$

– 0

–

$

1,132,210,321

* 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.

^ There were de minimis transfers under 1% of net assets between Level 1 and Level 2 during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

AllianceBernstein Variable Products Series Fund

Large Cap Growth Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 96.3%
Technology - 31.9%
Communications Technology - 1.2%
QUALCOMM, Inc.		69,130	$	4,319,934
Computer Services, Software & Systems - 19.7%
ANSYS, Inc. (a)		81,112		5,953,621
Citrix Systems, Inc. (a)		111,320		8,523,772
Cognizant Technology Solutions Corp.-Class A (a)		151,060		10,562,115
F5 Networks, Inc. (a)		57,260		5,995,122
Google, Inc.-Class A (a)		20,760		15,663,420
Intuit, Inc.		83,770		4,932,378
LinkedIn Corp. (a)		19,100		2,299,640
Oracle Corp.		204,410		6,436,871
Rackspace Hosting, Inc. (a)		41,830		2,764,545
Red Hat, Inc. (a)		80,370		4,576,268
TIBCO Software, Inc. (a)		185,432		5,605,609
				73,313,361
Computer Technology - 9.8%
Apple, Inc.		49,805		33,232,884
EMC Corp./MA (a)		115,463		3,148,676
				36,381,560
Semiconductors & Component - 1.2%
Broadcom Corp.-Class A (a)		74,394		2,572,545
Xilinx, Inc.		62,850		2,099,818
				4,672,363
				118,687,218
Consumer Discretionary - 19.4%
Cable Television Services - 1.9%
Comcast Corp.-Class A		193,880		6,935,088
Casinos & Gambling - 0.8%
Las Vegas Sands Corp.		66,040		3,062,275
Consumer Services: Misc. - 1.7%
eBay, Inc. (a)		130,010		6,293,784
Cosmetics - 1.4%
Estee Lauder Cos., Inc. (The)-Class A		86,020		5,296,251
Diversified Media - 0.8%
Discovery Communications, Inc.-Class A (a)		50,518		3,012,388
Diversified Retail - 1.4%
Dollar General Corp. (a)		104,702		5,396,341
Entertainment - 3.3%
Walt Disney Co. (The)		232,330		12,146,212
Leisure Time - 1.3%
priceline.com, Inc. (a)		7,620		4,714,723
Recreational Vehicles & Boats - 0.6%
Harley-Davidson, Inc.		56,230		2,382,465

Company	Shares		U.S. $ Value
Restaurants - 2.3%
Chipotle Mexican Grill, Inc.-Class A (a)		15,220	$	4,832,959
Starbucks Corp.		69,775		3,541,081
				8,374,040
Specialty Retail - 0.7%
O’Reilly Automotive, Inc. (a)		31,330		2,619,815
Textiles, Apparel & Shoes - 3.2%
Coach, Inc.		105,740		5,923,555
VF Corp.		36,540		5,823,014
				11,746,569
				71,979,951
Health Care - 13.7%
Biotechnology - 2.8%
Biogen Idec, Inc. (a)		39,804		5,939,951
Celgene Corp. (a)		61,310		4,684,084
				10,624,035
Health Care Management Services - 3.4%
UnitedHealth Group, Inc.		226,582		12,554,909
Health Care Services - 1.1%
McKesson Corp.		48,340		4,158,690
Medical Equipment - 2.8%
IDEXX Laboratories, Inc. (a)		62,280		6,187,518
Illumina, Inc. (a)(b)		30,595		1,474,679
Intuitive Surgical, Inc. (a)		5,370		2,661,533
				10,323,730
Pharmaceuticals - 3.6%
Allergan, Inc./United States		73,876		6,765,564
Gilead Sciences, Inc. (a)		76,860		5,098,124
Perrigo Co.		12,650		1,469,550
				13,333,238
				50,994,602
Energy - 8.8%
Oil Well Equipment & Services - 6.9%
FMC Technologies, Inc. (a)		55,235		2,557,381
National Oilwell Varco, Inc.		67,780		5,429,856
Oceaneering International, Inc.		90,066		4,976,146
Schlumberger Ltd.		174,905		12,650,879
				25,614,262
Oil: Crude Producers - 1.9%
EOG Resources, Inc.		23,825		2,669,591
Noble Energy, Inc.		47,127		4,369,144
				7,038,735
				32,652,997

Company	Shares		U.S. $ Value
Producer Durables - 8.6%
Aerospace - 1.6%
Boeing Co. (The)		88,710	$	6,175,990
Diversified Manufacturing Operations - 2.9%
Danaher Corp.		149,172		8,226,836
Dover Corp.		45,170		2,687,163
				10,913,999
Scientific Instruments: Control & Filter - 2.0%
Flowserve Corp.		19,491		2,489,780
Rockwell Automation, Inc.		29,915		2,080,588
Roper Industries, Inc.		25,240		2,773,624
				7,343,992
Scientific Instruments: Electrical - 2.1%
AMETEK, Inc.		81,746		2,897,896
Emerson Electric Co.		99,570		4,806,244
				7,704,140
				32,138,121
Financial Services - 5.2%
Asset Management & Custodian - 1.0%
Affiliated Managers Group, Inc. (a)		31,320		3,852,360
Diversified Financial Services - 0.6%
Blackstone Group LP		144,054		2,057,091
Financial Data & Systems - 1.5%
Visa, Inc.-Class A		42,110		5,654,531
Securities Brokerage & Services - 2.1%
IntercontinentalExchange, Inc. (a)		58,371		7,787,275
				19,351,257
Consumer Staples - 5.0%
Foods - 1.4%
Hershey Co. (The)		74,600		5,288,394
Tobacco - 3.6%
Philip Morris International, Inc.		149,981		13,489,291
				18,777,685
Materials & Processing - 3.7%
Fertilizers - 1.4%
Monsanto Co.		56,294		5,123,880
Metal Fabricating - 2.3%
Precision Castparts Corp.		51,950		8,485,513
				13,609,393
Total Common Stocks (cost $314,207,674)				358,191,224

	Principal Amount (000)		U.S. $ Value
SHORT-TERM INVESTMENTS - 4.6%
Time Deposit - 4.6%
State Street Time Deposit, 0.01%, 10/01/12 (cost $16,967,567)	$	16,968	$	16,967,567
Total Investments Before Security Lending Collateral for Securities Loaned - 100.9% (cost $331,175,241)				375,158,791
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 0.4%
Investment Companies - 0.4%
AllianceBernstein Exchange Reserves-Class I,
0.17%(c) (cost $1,468,560)		1,468,560		1,468,560
Total Investments - 101.3% (cost $332,643,801) (d)				376,627,351
Other assets less liabilities - (1.3)%				(4,677,686	)
Net Assets - 100.0%			$	371,949,665

(a) Non-income producing security.

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

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

(d) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $47,543,998 and gross unrealized depreciation of investments was $(3,560,448), resulting in net unrealized appreciation of $43,983,550.

Please note: The sector classifications presented herein are based on the Russell sector classification scheme which was developed by Russell Investments. Russell classifies index members into industries that most closely describe the nature of its business and its primary economic orientation.

AllianceBernstein Variable Products Series Fund

Large Cap Growth Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks*

$

358,191,224

$

– 0

–

$

– 0

–

$

358,191,224

Short-Term Investments

– 0

–

16,967,567

– 0

–

16,967,567

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

1,468,560

– 0

–

– 0

–

1,468,560

Total Investments in Securities

359,659,784

16,967,567

– 0

–

376,627,351

Other Financial Instruments**

– 0

–

– 0

–

– 0

–

– 0

–

Total^

$

359,659,784

$

16,967,567

$

– 0

–

$

376,627,351

* See Portfolio of Investments for sector classifications.

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

^ There were no transfers between Level 1 and Level 2 during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

AllianceBernstein Variable Products Series Fund

Real Estate Investment Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 99.4%
Equity: Other - 34.1%
Diversified/Specialty - 19.9%
American Tower Corp.		65,310	$	4,662,481
Digital Realty Trust, Inc.		8,370		584,645
Duke Realty Corp.		75,380		1,108,086
Lexington Realty Trust (a)		95,900		926,394
Plum Creek Timber Co., Inc.		26,980		1,182,803
Rayonier, Inc.		21,850		1,070,869
Select Income REIT		34,310		844,712
Spirit Realty Capital, Inc. (b)		74,674		1,157,447
Vornado Realty Trust		20,860		1,690,703
Weyerhaeuser Co.		117,560		3,073,018
				16,301,158
Health Care - 11.3%
HCP, Inc.		52,460		2,333,421
Health Care REIT, Inc.		34,841		2,012,068
LTC Properties, Inc.		16,900		538,265
Medical Properties Trust, Inc.		21,810		227,914
Omega Healthcare Investors, Inc.		18,520		420,960
Senior Housing Properties Trust		28,700		625,086
Ventas, Inc.		48,890		3,043,402
				9,201,116
Triple Net - 2.9%
Entertainment Properties Trust		16,890		750,423
National Retail Properties, Inc.		29,350		895,175
Realty Income Corp. (a)		18,200		744,198
				2,389,796
				27,892,070
Retail - 23.8%
Regional Mall - 14.5%
CBL & Associates Properties, Inc.		26,932		574,729
General Growth Properties, Inc.		118,170		2,301,951
Glimcher Realty Trust		61,898		654,262
Macerich Co. (The)		7,890		451,545
Pennsylvania Real Estate Investment Trust		12,940		205,228
Simon Property Group, Inc.		50,490		7,664,887
				11,852,602
Shopping Center/Other Retail - 9.3%
American Realty Capital Trust, Inc.		100,660		1,180,742
DDR Corp. (a)		33,903		520,750
Federal Realty Investment Trust		3,050		321,165
Inland Real Estate Corp.		28,210		232,733
Kimco Realty Corp.		46,020		932,825
Regency Centers Corp.		27,470		1,338,613
Retail Opportunity Investments Corp. (a)		75,466		971,247
Tanger Factory Outlet Centers		28,650		926,255
Weingarten Realty Investors		42,130		1,184,274
				7,608,604
				19,461,206

Company	Shares		U.S. $ Value
Residential - 17.3%
Multi-Family - 10.4%
Associated Estates Realty Corp.		49,380	$	748,601
AvalonBay Communities, Inc.		10,670		1,451,013
BRE Properties, Inc.		13,590		637,235
Camden Property Trust		7,645		493,026
Equity Residential		35,490		2,041,740
Essex Property Trust, Inc.		6,050		896,852
Home Properties, Inc.		6,200		379,874
Mid-America Apartment Communities, Inc.		16,160		1,055,410
Post Properties, Inc.		9,690		464,732
UDR, Inc.		11,820		293,372
				8,461,855
Self Storage - 6.2%
CubeSmart		33,000		424,710
Extra Space Storage, Inc.		41,291		1,372,926
Public Storage		15,590		2,169,660
Sovran Self Storage, Inc.		19,241		1,113,092
				5,080,388
Student Housing - 0.7%
Education Realty Trust, Inc.		53,980		588,382
				14,130,625
Lodging - 10.8%
Lodging - 10.8%
Chesapeake Lodging Trust		40,730		809,305
DiamondRock Hospitality Co.		61,370		590,993
FelCor Lodging Trust, Inc. (b)		180,281		854,532
Host Hotels & Resorts, Inc.		39,690		637,024
Intercontinental Hotels Group PLC		25,300		664,370
LaSalle Hotel Properties		45,297		1,208,977
Pebblebrook Hotel Trust		45,120		1,055,357
RLJ Lodging Trust		60,280		1,139,895
Strategic Hotels & Resorts, Inc. (b)		200,800		1,206,808
Sunstone Hotel Investors, Inc. (b)		58,970		648,670
				8,815,931
Office - 9.7%
Office - 9.7%
Boston Properties, Inc.		17,729		1,961,005
Brandywine Realty Trust		25,310		308,529
Corporate Office Properties Trust		29,080		697,047
Douglas Emmett, Inc.		54,340		1,253,624
Kilroy Realty Corp.		11,674		522,762
Liberty Property Trust (a)		19,860		719,726
Mack-Cali Realty Corp.		29,940		796,404
Parkway Properties, Inc./MD		18,216		243,548
PS Business Parks, Inc.		3,140		209,815
SL Green Realty Corp.		15,240		1,220,267
				7,932,727
Industrials - 3.7%
Industrial Warehouse Distribution - 3.7%
EastGroup Properties, Inc.		11,060		588,392
ProLogis, Inc.		61,842		2,166,325

Company	Shares		U.S. $ Value
STAG Industrial, Inc.		18,140	$	294,957
				3,049,674
Total Common Stocks (cost $67,658,796)				81,282,233
	Principal Amount (000)
SHORT-TERM INVESTMENTS - 1.6%
Time Deposit - 1.6%
State street Time Deposit
0.01%, 10/01/12 (cost $1,282,940)	$	1,283		1,282,940
Total Investments Before Security Lending Collateral for Securities Loaned - 101.0% (cost $68,941,736)				82,565,173
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 4.2%
Investment Companies - 4.2%
AllianceBernstein Exchange Reserves-Class I,
0.17% (c) (cost $3,435,417)		3,435,417		3,435,417
Total Investments - 105.2%
(cost $72,377,153) (d)				86,000,590
Other assets less liabilities - (5.2)%				(4,268,749	)
Net Assets - 100.0%			$	81,731,841

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

(b) Non-income producing security.

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

(d) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $13,829,165 and gross unrealized depreciation of investments was $(205,728), resulting in net unrealized appreciation of $13,623,437.

Please note: The sector classifications presented herein are based on the sector categorization methodology of the Adviser.

Glossary:

REIT - Real Estate Investment Trust

AllianceBernstein Variable Products Series Fund

Real Estate Investment Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks:

Equity: Other

$

27,892,070

$

– 0

–

$

– 0

–

$

27,892,070

Retail

19,461,206

– 0

–

– 0

–

19,461,206

Residential

14,130,625

– 0

–

– 0

–

14,130,625

Lodging

8,151,561

664,370

– 0

–

8,815,931

Office

7,932,727

– 0

–

– 0

–

7,932,727

Industrials

3,049,674

– 0

–

– 0

–

3,049,674

Short-Term Investments

– 0

–

1,282,940

– 0

–

1,282,940

Investments of Cash Collateral for Security

Loaned in Affiliated Money Market Fund

3,435,417

– 0

–

– 0

–

3,435,417

Total Investments in Securities

84,053,280

1,947,310

– 0

–

86,000,590

Other Financial Instruments*

– 0

–

– 0

–

– 0

–

– 0

–

Total^

$

84,053,280

$

1,947,310

$

– 0

–

$

86,000,590

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

^ There were no transfers between Level 1 and Level 2 during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

AllianceBernstein Variable Products Series Fund

Small Cap Growth Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 98.1%
Industrials - 22.6%
Aerospace & Defense - 2.3%
Hexcel Corp. (a)		32,090	$	770,802
Keyw Holding Corp. (The) (a)(b)		48,521		606,512
				1,377,314
Building Products - 0.7%
Simpson Manufacturing Co., Inc.		14,024		401,367
Commercial Services & Supplies - 1.1%
Interface, Inc.		49,970		660,104
Construction & Engineering - 1.0%
Dycom Industries, Inc. (a)		39,381		566,299
Electrical Equipment - 1.2%
AMETEK, Inc.		6,520		231,134
Thermon Group Holdings, Inc. (a)		20,258		506,247
				737,381
Industrial Conglomerates - 0.9%
Carlisle Cos., Inc.		10,230		531,142
Machinery - 8.3%
Actuant Corp.-Class A		21,080		603,310
Chart Industries, Inc. (a)		9,430		696,406
IDEX Corp.		18,585		776,295
Lincoln Electric Holdings, Inc.		14,150		552,558
Middleby Corp. (a)		6,780		784,039
RBC Bearings, Inc. (a)		13,369		643,049
Robbins & Myers, Inc.		2,055		122,478
Valmont Industries, Inc.		6,021		791,761
				4,969,896
Marine - 1.2%
Kirby Corp. (a)		13,374		739,315
Professional Services - 3.0%
Advisory Board Co. (The) (a)		16,431		785,895
RPX Corp. (a)		11,211		125,675
TrueBlue, Inc. (a)		53,713		844,368
				1,755,938
Road & Rail - 1.5%
Genesee & Wyoming, Inc.-Class A (a)		13,544		905,552
Trading Companies & Distributors - 1.4%
United Rentals, Inc. (a)		25,460		832,796
				13,477,104
Consumer Discretionary - 22.4%
Distributors - 1.0%
LKQ Corp. (a)		32,070		593,295

Company	Shares		U.S. $ Value
Diversified Consumer Services - 1.4%
Grand Canyon Education, Inc. (a)		36,593	$	861,033
Hotels, Restaurants & Leisure - 4.7%
BJ’s Restaurants, Inc. (a)		10,725		486,379
Life Time Fitness, Inc. (a)		20,280		927,607
Orient-Express Hotels Ltd.-Class A (a)		58,850		523,765
Panera Bread Co.-Class A (a)		5,090		869,830
				2,807,581
Household Durables - 0.9%
Skullcandy, Inc. (a)(b)		38,042		523,078
Media - 2.0%
National CineMedia, Inc.		41,280		675,754
Pandora Media, Inc. (a)(b)		47,380		518,811
				1,194,565
Specialty Retail - 12.4%
Cabela’s, Inc. (a)		15,395		841,798
Dick’s Sporting Goods, Inc.		14,480		750,788
Five Below, Inc. (a)(b)		5,340		208,687
Francesca’s Holdings Corp. (a)		25,518		784,168
Hibbett Sports, Inc. (a)		14,975		890,264
Lumber Liquidators Holdings, Inc. (a)(b)		16,210		821,523
Select Comfort Corp. (a)		28,485		898,702
Ulta Salon Cosmetics & Fragrance, Inc.		7,720		743,475
Vitamin Shoppe, Inc. (a)		13,600		793,152
Zumiez, Inc. (a)(b)		24,210		671,343
				7,403,900
				13,383,452
Information Technology - 22.0%
Communications Equipment - 2.1%
Ciena Corp. (a)		47,792		649,971
Netgear, Inc. (a)		15,290		583,161
				1,233,132
Internet Software & Services - 5.4%
Bazaarvoice, Inc. (a)(b)		36,163		547,870
CoStar Group, Inc. (a)		11,446		933,307
DealerTrack Holdings, Inc. (a)		29,811		830,236
Demandware, Inc. (a)(b)		16,220		514,985
ExactTarget, Inc. (a)(b)		15,324		371,147
				3,197,545
Semiconductors & Semiconductor Equipment - 5.8%
Cirrus Logic, Inc. (a)		6,970		267,578
Fairchild Semiconductor International, Inc. (a)		43,979		577,005
Mellanox Technologies Ltd. (a)(b)		5,318		539,937
Semtech Corp. (a)		29,900		751,985

Company	Shares		U.S. $ Value
Teradyne, Inc. (a)		46,020	$	654,404
Veeco Instruments, Inc. (a)(b)		22,565		677,401
				3,468,310
Software - 8.7%
Aspen Technology, Inc. (a)		38,465		994,320
BroadSoft, Inc. (a)(b)		17,480		717,030
Cadence Design Systems, Inc. (a)		70,510		907,111
Fortinet, Inc. (a)		20,313		490,356
Guidewire Software, Inc. (a)		21,010		652,360
MICROS Systems, Inc. (a)		8,784		431,470
SolarWinds, Inc. (a)		12,794		713,138
TIBCO Software, Inc. (a)		10,110		305,625
				5,211,410
				13,110,397
Health Care - 18.5%
Biotechnology - 3.6%
Achillion Pharmaceuticals, Inc. (a)		27,670		288,045
Amarin Corp. PLC (ADR) (a)(b)		16,958		213,671
Ariad Pharmaceuticals, Inc. (a)		11,760		284,886
Cepheid, Inc. (a)		6,592		227,490
Onyx Pharmaceuticals, Inc. (a)		6,310		533,195
Pharmacyclics, Inc. (a)		2,560		165,120
Synageva BioPharma Corp. (a)		4,695		250,854
TESARO, Inc. (a)		13,410		190,824
				2,154,085
Health Care Equipment & Supplies - 3.7%
HeartWare International, Inc. (a)(b)		7,280		687,887
Sirona Dental Systems, Inc. (a)		13,114		746,973
Volcano Corp. (a)		26,124		746,363
				2,181,223
Health Care Providers & Services - 7.3%
AMERIGROUP Corp. (a)		7,617		696,422
Catamaran Corp. (a)		5,111		500,725
HMS Holdings Corp. (a)		22,565		754,348
IPC The Hospitalist Co., Inc. (a)		11,238		513,577
Mednax, Inc. (a)		8,117		604,311
Team Health Holdings, Inc. (a)		23,439		635,900
WellCare Health Plans, Inc. (a)		11,750		664,462
				4,369,745
Health Care Technology - 0.5%
Vocera Communications, Inc. (a)		9,659		298,560
Pharmaceuticals - 3.4%
Akorn, Inc. (a)		47,545		628,545
Impax Laboratories, Inc. (a)		15,850		411,466

Company	Shares		U.S. $ Value
Jazz Pharmaceuticals PLC (a)		6,840	$	389,948
MAP Pharmaceuticals, Inc. (a)		18,610		289,758
Optimer Pharmaceuticals, Inc. (a)(b)		20,246		285,873
				2,005,590
				11,009,203
Energy - 6.1%
Energy Equipment & Services - 3.5%
Dril-Quip, Inc.(a)		3,250		233,610
Forum Energy Technologies, Inc. (a)(b)		11,460		278,707
Oceaneering International, Inc.		13,105		724,052
Oil States International, Inc. (a)		8,707		691,858
Superior Energy Services, Inc. (a)		8,187		167,997
				2,096,224
Oil, Gas & Consumable Fuels - 2.6%
Laredo Petroleum Holdings, Inc. (a)(b)		17,350		381,353
Matador Resources Co. (a)		41,320		429,315
Oasis Petroleum, Inc. (a)		19,805		583,653
SM Energy Co.		2,388		129,215
				1,523,536
				3,619,760
Financials - 4.5%
Capital Markets - 2.3%
Affiliated Managers Group, Inc. (a)		6,230		766,290
Stifel Financial Corp. (a)		19,136		642,970
				1,409,260
Commercial Banks - 2.2%
Iberiabank Corp.		12,629		578,408
Signature Bank/New York NY (a)		10,776		722,854
				1,301,262
				2,710,522
Materials - 1.2%
Chemicals - 1.2%
PolyOne Corp.		42,130		698,094
Consumer Staples - 0.8%
Food & Staples Retailing - 0.8%
Chefs’ Warehouse, Inc. (The) (a)		30,946		506,895
Total Common Stocks (cost $49,076,658)				58,515,427

	Principal Amount (000)		U.S. $ Value
SHORT-TERM INVESTMENTS - 1.9%
Time Deposit - 1.9%
State Street Time Deposit 0.01%, 10/01/12 (cost $1,162,204)	$	1,162	$	1,162,204
Total Investments Before Security Lending Collateral for Securities Loaned - 100.0% (cost $50,238,862)				59,677,631
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 7.6%
Investment Companies - 7.6%
AllianceBernstein Exchange Reserves-Class I, 0.17% (c) (cost $4,522,014)		4,522,014		4,522,014
Total Investments - 107.6%
(cost $54,760,876) (d)				64,199,645
Other assets less liabilities - (7.6)%				(4,528,412	)
Net Assets - 100.0%			$	59,671,233

(a) Non-income producing security.

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

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

(d) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $10,168,746 and gross unrealized depreciation of investments was $(729,977), resulting in net unrealized appreciation of $9,438,769.

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 Variable Products Series Fund

Small Cap Growth Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks*

$

58,515,427

$

– 0

–

$

– 0

–

$

58,515,427

Short-Term Investments

– 0

–

1,162,204

– 0

–

1,162,204

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

4,522,014

– 0

–

– 0

–

4,522,014

Total Investments in Securities

63,037,441

1,162,204

– 0

–

64,199,645

Other Financial Instruments**

– 0

–

– 0

–

– 0

–

– 0

–

Total^

$

63,037,441

$

1,162,204

$

– 0

–

$

64,199,645

* See Portfolio of Investments for sector classifications.

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

^ There were no transfers between Level 1 and Level 2 during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

AllianceBernstein Variable Products Series Fund

Small/Mid Cap Value Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 99.6%
Financials - 30.5%
Capital Markets - 1.2%
Legg Mason, Inc.		248,550	$	6,134,214
Commercial Banks - 10.4%
Associated Banc - Corp		420,960		5,544,043
CapitalSource, Inc.		967,970		7,337,213
Comerica, Inc.		208,610		6,477,340
First Niagara Financial Group, Inc.		661,510		5,351,616
Huntington Bancshares, Inc./OH		991,590		6,841,971
Popular, Inc. (a)		218,260		3,804,272
Susquehanna Bancshares, Inc.		521,554		5,455,455
Webster Financial Corp.		142,040		3,366,348
Zions Bancorporation		334,990		6,919,218
				51,097,476
Insurance - 9.2%
Amtrust Financial Services, Inc. (b)		97,004		2,485,242
Aspen Insurance Holdings Ltd.		227,910		6,948,976
Fidelity National Financial, Inc.-Class A		338,140		7,232,815
Platinum Underwriters Holdings Ltd.		151,670		6,198,753
Reinsurance Group of America, Inc.-Class A		112,830		6,529,472
Torchmark Corp.		123,650		6,349,428
Unum Group		248,420		4,774,632
Validus Holdings Ltd.		134,270		4,553,096
				45,072,414
Real Estate Investment Trusts (REITs) - 8.9%
BioMed Realty Trust, Inc.		341,800		6,398,496
BRE Properties, Inc.		46,780		2,193,514
Camden Property Trust		78,860		5,085,681
DiamondRock Hospitality Co.		417,820		4,023,607
Entertainment Properties Trust		138,950		6,173,549
Glimcher Realty Trust		531,010		5,612,776
Home Properties, Inc.		56,212		3,444,109
Mid-America Apartment Communities, Inc.		82,400		5,381,544
Plum Creek Timber Co., Inc.		119,460		5,237,126
RLJ Lodging Trust		26,220		495,820
				44,046,222
Thrifts & Mortgage Finance - 0.8%
Washington Federal, Inc.		237,530		3,962,001
				150,312,327
Consumer Discretionary - 18.3%
Auto Components - 2.9%
Dana Holding Corp.		269,820		3,318,786
Lear Corp.		161,920		6,118,957
TRW Automotive Holdings Corp. (a)		114,230		4,992,993
				14,430,736
Hotels, Restaurants & Leisure - 2.6%
MGM Resorts International (a)		584,100		6,279,075
Royal Caribbean Cruises Ltd.		210,800		6,368,268
				12,647,343

Company	Shares		U.S. $ Value
Household Durables - 4.6%
Meritage Homes Corp. (a)		132,910	$	5,054,567
Newell Rubbermaid, Inc.		357,680		6,828,111
NVR, Inc. (a)		6,735		5,687,708
PulteGroup, Inc. (a)		342,570		5,309,835
				22,880,221
Media - 1.2%
Gannett Co., Inc.		342,140		6,072,985
Specialty Retail - 5.8%
ANN, Inc. (a)		159,731		6,026,651
Childrens Place Retail Stores, Inc. (The) (a)		102,020		6,121,200
Express, Inc. (a)		286,850		4,251,117
GameStop Corp.-Class A (b)		156,350		3,283,350
Men’s Wearhouse, Inc. (The)		157,280		5,415,150
Office Depot, Inc. (a)		1,360,860		3,483,802
				28,581,270
Textiles, Apparel & Luxury Goods - 1.2%
Jones Group, Inc. (The)		441,710		5,684,808
				90,297,363
Information Technology - 15.9%
Communications Equipment - 0.7%
Harris Corp.		62,650		3,208,933
Electronic Equipment, Instruments & Components - 8.4%
Anixter International, Inc.		50,620		2,908,625
Arrow Electronics, Inc. (a)		167,690		5,652,830
AU Optronics Corp. (Sponsored ADR) (a)		1,039,032		3,615,831
Avnet, Inc. (a)		183,620		5,341,506
Flextronics International Ltd. (a)		671,360		4,028,160
Ingram Micro, Inc. - Class A (a)		241,530		3,678,502
Insight Enterprises, Inc. (a)		306,654		5,360,312
TTM Technologies, Inc. (a)		532,092		5,017,628
Vishay Intertechnology, Inc. (a)		569,950		5,602,608
				41,206,002
IT Services - 2.3%
Amdocs Ltd.		203,140		6,701,588
Convergys Corp.		308,770		4,838,426
				11,540,014
Semiconductors & Semiconductor Equipment - 4.5%
Amkor Technology, Inc. (a)(b)		625,070		2,750,308
Entegris, Inc. (a)		611,200		4,969,056
Lam Research Corp. (a)		165,900		5,273,132
Micron Technology, Inc. (a)		827,710		4,953,844
MKS Instruments, Inc.		165,708		4,223,897
				22,170,237
				78,125,186

Company	Shares		U.S. $ Value
Industrials - 11.1%
Building Products - 1.4%
Fortune Brands Home & Security, Inc. (a)		262,020	$	7,077,160
Commercial Services & Supplies - 1.0%
Avery Dennison Corp.		155,880		4,960,102
Construction & Engineering - 0.6%
Tutor Perini Corp. (a)		249,460		2,853,822
Electrical Equipment - 2.0%
EnerSys, Inc. (a)		87,670		3,093,875
General Cable Corp. (a)		229,340		6,738,009
				9,831,884
Machinery - 2.5%
Kennametal, Inc.		105,790		3,922,693
Sauer-Danfoss, Inc.		66,848		2,687,958
Timken Co.		154,330		5,734,903
				12,345,554
Road & Rail - 2.5%
Avis Budget Group, Inc. (a)		287,910		4,428,056
Con-way, Inc.		144,800		3,963,176
Hertz Global Holdings, Inc. (a)		280,250		3,847,832
				12,239,064
Trading Companies & Distributors - 1.1%
Aircastle Ltd.		463,290		5,249,076
				54,556,662
Utilities - 7.8%
Electric Utilities - 5.0%
Great Plains Energy, Inc.		273,420		6,086,329
NV Energy, Inc.		341,190		6,144,832
PNM Resources, Inc.		302,690		6,365,571
Portland General Electric Co.		214,960		5,812,518
				24,409,250
Gas Utilities - 2.8%
Atmos Energy Corp.		187,850		6,723,152
UGI Corp.		220,870		7,012,622
				13,735,774
				38,145,024
Energy - 6.5%
Energy Equipment & Services - 2.6%
Bristow Group, Inc.		132,540		6,699,897
Helmerich & Payne, Inc.		133,720		6,366,409
				13,066,306
Oil, Gas & Consumable Fuels - 3.9%
Cimarex Energy Co.		99,090		5,801,720
Plains Exploration & Production Co. (a)		115,530		4,328,909
Stone Energy Corp. (a)		170,810		4,290,747

Company	Shares		U.S. $ Value
Teekay Corp.		147,090	$	4,589,208
				19,010,584
				32,076,890
Consumer Staples - 3.9%
Beverages - 1.4%
Constellation Brands, Inc.-Class A (a)		205,545		6,649,381
Food Products - 2.5%
Dole Food Co., Inc. (a)(b)		432,570		6,068,957
Tyson Foods, Inc.-Class A		390,920		6,262,538
				12,331,495
				18,980,876
Materials - 3.3%
Chemicals - 0.5%
Ferro Corp. (a)		689,230		2,364,059
Metals & Mining - 2.8%
Commercial Metals Co.		339,090		4,475,988
Reliance Steel & Aluminum Co.		101,985		5,338,915
Steel Dynamics, Inc. (b)		354,680		3,983,056
				13,797,959
				16,162,018
Health Care - 2.3%
Health Care Providers & Services - 2.3%
Health Net, Inc. (a)		176,210		3,966,487
LifePoint Hospitals, Inc. (a)		175,805		7,520,938
				11,487,425
Total Common Stocks (cost $465,154,282)				490,143,771
	Principal Amount (000)
SHORT-TERM INVESTMENTS - 0.2%
Time Deposit - 0.2%
State Street Time Deposit 0.01%, 10/01/12 (cost $769,211)	$	769		769,211

Company	Shares		U.S. $ Value
Total Investments Before Security Lending Collateral for Securities Loaned - 99.8%
(cost $465,923,493)			$	490,912,982
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 2.8%
Investment Companies - 2.8%
AllianceBernstein Exchange Reserves-Class I, 0.17% (c)
(cost $13,826,841)		13,826,841		13,826,841
Total Investments - 102.6%
(cost $479,750,334) (d)				504,739,823
Other assets less liabilities - (2.6)%				(12,717,038	)
Net Assets - 100.0%			$	492,022,785

(a) Non-income producing security.

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

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

(d) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $58,649,932 and gross unrealized depreciation of investments was $(33,660,443), resulting in net unrealized appreciation of $24,989,489.

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 Variable Products Series Fund

Small/Mid Cap Value Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks*

$

490,143,771

$

– 0

–

$

– 0

–

$

490,143,771

Short-Term Investments

– 0

–

769,211

– 0

–

769,211

Investments of Cash Collateral for Security

Loaned in Affiliated Money Market Fund

13,826,841

– 0

–

– 0

–

13,826,841

Total Investments in Securities

503,970,612

769,211

– 0

–

504,739,823

Other Financial Instruments**

– 0

–

– 0

–

– 0

–

– 0

–

Total^

$

503,970,612

$

769,211

$

– 0

–

$

504,739,823

* See Portfolio of Investments for sector classifications.

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

^ There were no transfers between Level 1 and Level 2 during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

AllianceBernstein Variable Products Series Fund

Value Portfolio

Portfolio of Investments

September 30, 2012 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 99.6%
Financials - 19.4%
Capital Markets - 1.7%
Morgan Stanley		95,100	$	1,591,974
State Street Corp.		31,900		1,338,524
				2,930,498
Commercial Banks - 6.3%
BB&T Corp.		32,000		1,061,120
CIT Group, Inc. (a)		66,900		2,635,191
KeyCorp		24,700		215,878
PNC Financial Services Group, Inc.		10,200		643,620
Regions Financial Corp.		36,700		264,607
Wells Fargo & Co.		163,700		5,652,561
				10,472,977
Consumer Finance - 1.1%
Discover Financial Services		44,800		1,779,904
Diversified Financial Services - 6.5%
Bank of America Corp.		239,100		2,111,253
Citigroup, Inc.		145,300		4,754,216
JPMorgan Chase & Co.		87,500		3,542,000
Leucadia National Corp.		20,400		464,100
				10,871,569
Insurance - 3.8%
Berkshire Hathaway, Inc. (a)		11,900		1,049,580
Chubb Corp. (The)		15,500		1,182,340
Fidelity National Financial, Inc.-Class A		45,900		981,801
Reinsurance Group of America, Inc.-Class A		17,600		1,018,512
Torchmark Corp.		18,100		929,435
Travelers Cos., Inc. (The)		10,300		703,078
Validus Holdings Ltd.		15,300		518,823
				6,383,569
				32,438,517
Consumer Discretionary - 18.2%
Auto Components - 1.8%
Lear Corp.		32,600		1,231,954
Magna International, Inc. (New York)-Class A		19,400		839,244
TRW Automotive Holdings Corp. (a)		22,200		970,362
				3,041,560
Automobiles - 1.8%
Ford Motor Co.		121,900		1,201,934
General Motors Co. (a)		82,025		1,866,069
				3,068,003
Diversified Consumer Services - 0.7%
Apollo Group, Inc.-Class A (a)		39,200		1,138,760
Hotels, Restaurants & Leisure - 1.1%
MGM Resorts International (a)		176,200		1,894,150

Company	Shares		U.S. $ Value
Household Durables - 0.9%
PulteGroup Inc. (a)		95,700	$	1,483,350
Media - 8.1%
CBS Corp.-Class B		49,000		1,780,170
Comcast Corp.-Class A		62,300		2,228,471
DIRECTV (a)		26,100		1,369,206
Gannett Co., Inc.		61,000		1,082,750
McGraw-Hill Cos., Inc. (The)		33,200		1,812,388
News Corp.-Class A		64,400		1,579,732
Time Warner Cable, Inc.-Class A		19,400		1,844,164
Viacom, Inc.-Class B		34,300		1,838,137
				13,535,018
Multiline Retail - 1.2%
Macy’s, Inc.		52,000		1,956,240
Specialty Retail - 2.6%
GameStop Corp.-Class A (b)		24,700		518,700
Home Depot, Inc. (The)		15,900		959,883
Lowe’s Cos., Inc.		34,500		1,043,280
Staples, Inc. (b)		16,400		188,928
TJX Cos., Inc.		36,900		1,652,751
				4,363,542
				30,480,623
Health Care - 16.1%
Biotechnology - 0.8%
Gilead Sciences, Inc. (a)		12,600		835,758
Vertex Pharmaceuticals, Inc. (a)		7,400		414,030
				1,249,788
Health Care Providers & Services - 4.2%
Aetna, Inc.		12,200		483,120
Health Net, Inc. (a)		28,800		648,288
UnitedHealth Group, Inc.		52,500		2,909,025
WellPoint, Inc.		51,700		2,999,117
				7,039,550
Pharmaceuticals - 11.1%
AstraZeneca PLC (Sponsored ADR)		55,200		2,641,872
Johnson & Johnson		50,700		3,493,737
Merck & Co., Inc.		104,300		4,703,930
Pfizer, Inc.		273,700		6,801,445
Roche Holding AG (Sponsored ADR)		20,500		963,295
				18,604,279
				26,893,617
Energy - 13.3%
Energy Equipment & Services - 1.8%
Helmerich & Payne, Inc.		31,000		1,475,910
Transocean Ltd.		32,500		1,458,925
				2,934,835

Company	Shares		U.S. $ Value
Oil, Gas & Consumable Fuels - 11.5%
BP PLC (Sponsored ADR)		61,400	$	2,600,904
Chevron Corp.		37,500		4,371,000
Exxon Mobil Corp.		112,900		10,324,705
Marathon Oil Corp.		49,500		1,463,715
Valero Energy Corp.		17,200		544,896
				19,305,220
				22,240,055
Information Technology - 9.4%
Communications Equipment - 2.7%
Cisco Systems, Inc.		183,200		3,497,288
Harris Corp.		10,300		527,566
Motorola Solutions, Inc.		8,100		409,455
				4,434,309
Computers & Peripherals - 2.1%
Dell, Inc.		34,600		341,156
Hewlett-Packard Co.		183,300		3,127,098
				3,468,254
IT Services - 0.7%
Visa, Inc.-Class A		8,500		1,141,380
Semiconductors & Semiconductor Equipment - 3.8%
Applied Materials, Inc.		185,900		2,075,573
Intel Corp.		128,500		2,914,380
Micron Technology, Inc. (a)		230,000		1,376,550
				6,366,503
Software - 0.1%
CA, Inc.		9,600		247,344
				15,657,790
Consumer Staples - 8.8%
Food & Staples Retailing - 2.3%
CVS Caremark Corp.		25,700		1,244,394
Kroger Co. (The)		109,200		2,570,568
				3,814,962
Food Products - 1.1%
Archer-Daniels-Midland Co.		18,100		491,958
Tyson Foods, Inc.-Class A		87,900		1,408,158
				1,900,116
Household Products - 2.4%
Procter & Gamble Co. (The)		57,900		4,015,944
Tobacco - 3.0%
Altria Group, Inc.		66,000		2,203,740
Lorillard, Inc.		19,900		2,317,355
Philip Morris International, Inc.		4,700		422,718
				4,943,813
				14,674,835

Company	Shares		U.S. $ Value
Industrials - 6.1%
Aerospace & Defense - 0.6%
General Dynamics Corp.		9,600	$	634,752
Northrop Grumman Corp.		6,700		445,081
				1,079,833
Airlines - 0.7%
Delta Air Lines, Inc. (a)		120,675		1,105,383
Building Products - 0.4%
Fortune Brands Home & Security, Inc. (a)		25,058		676,817
Industrial Conglomerates - 3.6%
General Electric Co.		266,500		6,052,215
Machinery - 0.8%
Cummins, Inc.		14,000		1,290,940
				10,205,188
Utilities - 3.9%
Electric Utilities - 2.9%
American Electric Power Co., Inc.		19,000		834,860
Edison International		31,100		1,420,959
Great Plains Energy, Inc.		47,600		1,059,576
NV Energy, Inc.		89,400		1,610,094
				4,925,489
Gas Utilities - 0.7%
Atmos Energy Corp.		32,000		1,145,280
Multi-Utilities - 0.3%
CenterPoint Energy, Inc.		9,500		202,350
DTE Energy Co.		4,000		239,760
				442,110
				6,512,879
Telecommunication Services - 3.0%
Diversified Telecommunication Services - 3.0%
AT&T, Inc.		93,800		3,536,260
CenturyLink, Inc.		34,300		1,385,720
				4,921,980
Materials - 1.4%
Chemicals - 1.4%
LyondellBasell Industries NV		38,800		2,004,408
PPG Industries, Inc.		3,500		401,940
				2,406,348
Total Common Stocks (cost $150,228,902)				166,431,832

Company	Shares		U.S. $ Value
Total Investments Before Security Lending Collateral for Securities Loaned - 99.6% (cost $150,228,902)			$	166,431,832
INVESTMENTS OF CASH COLLATERAL FOR SECURITY LOANED - 0.4%
Investment Companies - 0.4%
AllianceBernstein Exchange Reserves-Class I, 0.17% (c) (cost $727,850)		727,850		727,850
Total Investments - 100.0% (cost $150,956,752) (d)				167,159,682
Other assets less liabilities - 0.0%				4,187
Net Assets - 100.0%			$	167,163,869

(a) Non-income producing security.

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

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

(d) As of September 30, 2012, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $23,951,887 and gross unrealized depreciation of investments was $(7,748,957), resulting in net unrealized appreciation of $16,202,930.

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 Variable Products Series Fund

Value Portfolio

September 30, 2012 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2012:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks:

Financials

$

32,438,517

$

– 0

–

$

– 0

–

$

32,438,517

Consumer Discretionary

30,480,623

– 0

–

– 0

–

30,480,623

Health Care

25,930,322

963,295

– 0

–

26,893,617

Energy

22,240,055

– 0

–

– 0

–

22,240,055

Information Technology

15,657,790

– 0

–

– 0

–

15,657,790

Consumer Staples

14,674,835

– 0

–

– 0

–

14,674,835

Industrials

10,205,188

– 0

–

– 0

–

10,205,188

Utilities

6,512,879

– 0

–

– 0

–

6,512,879

Telecommunication Services

4,921,980

– 0

–

– 0

–

4,921,980

Materials

2,406,348

– 0

–

– 0

–

2,406,348

Investments of Cash Collateral for Security

Loaned in Affiliated Money Market Fund

727,850

– 0

–

– 0

–

727,850

Total Investments in Securities

166,196,387

963,295

– 0

–

167,159,682

Other Financial Instruments*

– 0

–

– 0

–

– 0

–

– 0

–

Total^

$

166,196,387

$

963,295

$

– 0

–

$

167,159,682

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

^ There were no transfers between Level 1 and Level 2 during the reporting period.

The Portfolio recognizes all transfers between levels of the fair value hierarchy and assumes the financial instruments were transferred at the beginning of the reporting period.

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 Variable Products Series Fund, Inc.

By:	/s/    Robert M. Keith
	Robert M. Keith President
Date:	November 21, 2012

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:	November 21, 2012
By:	/s/    Joseph J. Mantineo
	Joseph J. Mantineo
	Treasurer and Chief Financial Officer
Date:	November 21, 2012