AB Income Fund Releases Monthly Portfolio Update

AB Income Fund, Inc.

Top 10 Fixed Income Holdings

Portfolio %

1) U.S. Treasury Bonds 6.00%, 2/15/26

22.44%

2) U.S. Treasury Bonds 6.375%, 8/15/27

20.52%

3) U.S. Treasury Notes 3.625%, 2/15/21

17.91%

4) U.S. Treasury Bonds 6.50%, 11/15/26

14.39%

5) U.S. Treasury Notes 2.125%, 8/31/20 - 8/15/21

9.63%

6) U.S. Treasury Notes 3.125%, 5/15/21

5.63%

7) U.S. Treasury Bonds 3.125%, 8/15/44

4.40%

8) U.S. Treasury Bonds 8.75%, 8/15/20

2.95%

9) Residual Funding Corp. Principal Strip Zero Coupon, 7/15/20

2.10%

10) U.S. Treasury Bonds 8.00%, 11/15/21

2.04%

Investment Type

Portfolio %

Global Governments

107.51%

Corporates - Non-Investment Grade

Industrial

Energy

2.44%

Consumer Non-Cyclical

1.89%

Communications - Media

1.79%

Basic

0.93%

Communications - Telecommunications

0.80%

Consumer Cyclical - Retailers

0.73%

Capital Goods

0.66%

Consumer Cyclical - Other

0.45%

Technology

0.39%

Consumer Cyclical - Automotive

0.34%

Transportation - Services

0.25%

Services

0.21%

Other Industrial

0.19%

Consumer Cyclical - Entertainment

0.12%

SUBTOTAL

11.19%

Credit Default Swaps

2.10%

SUBTOTAL

2.10%

Financial Institutions

Banking

1.08%

Insurance

0.14%

Other Finance

0.12%

Finance

0.10%

REITS

0.06%

SUBTOTAL

1.50%

Utility

Electric

0.77%

SUBTOTAL

0.77%

SUBTOTAL

15.56%

Collateralized Mortgage Obligations

GSE Risk Share Floating Rate

2.39%

Non-Agency Fixed Rate

1.67%

Non-Agency Floating Rate

0.65%

Agency Fixed Rate

0.20%

SUBTOTAL

4.91%

Corporates - Investment Grade

Industrial

Communications - Telecommunications

0.73%

Basic

0.65%

Capital Goods

0.43%

Energy

0.37%

Transportation - Airlines

0.09%

SUBTOTAL

2.27%

Financial Institutions

Insurance

1.44%

Banking

0.53%

SUBTOTAL

1.97%

Credit Default Swaps

0.29%

SUBTOTAL

0.29%

Utility

Electric

0.20%

SUBTOTAL

0.20%

SUBTOTAL

4.73%

Agencies

Agency Debentures

3.92%

SUBTOTAL

3.92%

Commercial Mortgage-Backed Securities

Non-Agency Fixed Rate CMBS

3.16%

Credit Default Swaps

0.22%

SUBTOTAL

3.38%

Emerging Markets - Corporate Bonds

Industrial

Consumer Non-Cyclical

0.49%

Capital Goods

0.38%

Basic

0.24%

Consumer Cyclical - Retailers

0.24%

Communications - Telecommunications

0.22%

Transportation - Airlines

0.20%

SUBTOTAL

1.77%

SUBTOTAL

1.77%

Whole Loan Trusts

Performing Asset

1.42%

SUBTOTAL

1.42%

Quasi-Sovereigns

Quasi-Sovereign Bonds

1.24%

SUBTOTAL

1.24%

Common Stocks

1.15%

Local Governments - Municipal Bonds

0.87%

Emerging Markets - Sovereigns

0.85%

Bank Loans

Industrial

Consumer Non-Cyclical

0.12%

Energy

0.11%

Other Industrial

0.11%

Consumer Cyclical - Other

0.09%

Communications - Media

0.08%

Basic

0.05%

Technology

0.01%

SUBTOTAL

0.57%

SUBTOTAL

0.57%

Preferred Stocks

Financial Institutions

0.37%

Industrial

0.19%

SUBTOTAL

0.56%

Governments - Sovereign Agencies

0.35%

Investment Companies

Funds and Investment Trusts

0.15%

SUBTOTAL

0.15%

Currency Instruments

Forward Currency Exchange Contracts

0.11%

SUBTOTAL

0.11%

Interest Rate Swaps - SIFMA

-21.81%

Interest Rate Futures

-44.42%

Reverse Repurchase Agreements

-52.12%

Net Cash Equivalents

Cash

4.19%

Investment Companies

3.19%

Foreign Currency

-0.01%

SUBTOTAL

7.37%

Derivative Offsets

Futures Offsets

43.73%

Swaps Offsets

18.20%

SUBTOTAL

61.93%

100.00%

Country Breakdown

Portfolio %

United States

90.56%

Brazil

2.35%

Mexico

1.13%

Canada

0.90%

Bermuda

0.72%

United Kingdom

0.46%

Luxembourg

0.44%

Indonesia

0.31%

Peru

0.29%

France

0.29%

India

0.27%

Germany

0.26%

Spain

0.24%

Switzerland

0.24%

El Salvador

0.23%

Venezuela

0.15%

Barbados

0.15%

Dominican Republic

0.14%

Italy

0.11%

Netherlands

0.10%

Ivory Coast

0.09%

Guatemala

0.08%

Belgium

0.07%

Pakistan

0.07%

Jamaica

0.07%

Zambia

0.06%

Sri Lanka

0.05%

South Africa

0.04%

Norway

0.04%

Morocco

0.04%

Australia

0.03%

Sweden

0.02%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

103.21%

New Turkish Lira

1.43%

Indonesian Rupiah

0.62%

Brazilian Real

0.42%

Uruguayan Peso

0.22%

Mexican Peso

0.01%

Norwegian Krone

-0.01%

Singapore Dollar

-0.52%

New Zealand Dollar

-0.95%

Australian Dollar

-1.43%

Euro

-1.49%

Great British Pound

-1.51%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

59.03%

A

1.42%

BBB

9.86%

BB

7.35%

B

7.56%

CCC

3.12%

CC

0.28%

C

0.03%

D

0.42%

Not Rated

4.24%

Short Term Investments

3.19%

N/A

3.50%

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

-44.39%

1 to 5 years

15.40%

5 to 10 years

57.25%

10 to 20 years

61.51%

20 to 30 years

8.19%

More than 30 years

0.89%

Other

1.15%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.70%

Average Bond Price :

119.83

Percentage of Leverage:

Bank Borrowing:

0.00%

Investment Operations:

39.07%*

Preferred Stock:

0.00%

Tender Option Bonds:

0.00%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

39.07%

Average Maturity:

13.88 Years

Effective Duration:

4.76 Years

Total Net Assets:

$1,825.31 Million

Net Asset Value:

$8.46

Number of Holdings:

413

Portfolio Turnover:

32%

* Investment Operations may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.

The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.