-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U5SHWD3IkVgkBG7mYPFpXNyY6XpW++9gqxblLFr+DLqG4WbOXWcNGAKiN5vSvKAm K1BRM49QBRSGxaNfE7PzBA== 0001133228-04-000515.txt : 20041130 0001133228-04-000515.hdr.sgml : 20041130 20041129183720 ACCESSION NUMBER: 0001133228-04-000515 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040930 FILED AS OF DATE: 20041130 DATE AS OF CHANGE: 20041129 EFFECTIVENESS DATE: 20041130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACM INCOME FUND INC CENTRAL INDEX KEY: 0000816754 IRS NUMBER: 133420585 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-05207 FILM NUMBER: 041172898 BUSINESS ADDRESS: STREET 1: ALLIANCE CAPITAL MGMT L P STREET 2: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 BUSINESS PHONE: 212-969-2127 MAIL ADDRESS: STREET 1: ALLIANCE CAPITAL MANAGEMENT L P STREET 2: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 FORMER COMPANY: FORMER CONFORMED NAME: ACM GOVERNMENT INCOME FUND INC DATE OF NAME CHANGE: 19920703 N-Q 1 a140990.txt SCHEDULE OF PORTFOLIO HOLDINGS 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: 811-05207 ACM Income 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) Mark R. Manley Alliance Capital Management 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, 2003 Date of reporting period: September 30, 2004 ITEM 1. SCHEDULE OF INVESTMENTS.
PORTFOLIO OF INVESTMENTS September 30, 2004 (unaudited) ACM Income Fund ==================================================================================================== Principal Amount (000) U.S. $ Value - ---------------------------------------------------------------------------------------------------- U.S. GOVERNMENT AND SPONSORED AGENCY OBLIGATIONS-100.7% U.S. Treasury Bonds- 42.1% 5.375%, 2/15/31(a) ......................... U.S.$ 2,214 $ 2,371,747 6.25%, 5/15/30(b) .......................... 84,000 99,697,500 11.25%, 2/15/15(a)(b) ...................... 160,000 254,581,280 12.00%, 8/15/13(a) ......................... 82,000 108,268,864 12.50%, 8/15/14(a) ......................... 70,300 98,763,275 13.25%, 5/15/14(a) ......................... 150,000 213,234,300 ----------------- 776,916,966 ----------------- U.S. Treasury Notes-14.9% 2.375%, 8/15/06(b) ......................... 34,000 33,891,098 2.625%, 5/15/08(b) ......................... 40,000 39,414,080 2.75%, 6/30/06(b) .......................... 40,000 40,165,640 3.00%, 2/15/09(b) .......................... 35,000 34,648,635 3.25%,8/15/08(b) ........................... 50,000 50,236,350 3.875%, 2/15/13(a) ......................... 3,030 3,011,063 4.00%, 11/15/12(a) ......................... 4,664 4,686,592 4.25%, 11/15/13-8/15/13(a) ................. 4,814 4,885,306 4.375%, 8/15/12(a) ......................... 700 721,657 4.75%, 5/15/14(b) .......................... 58,900 61,826,623 4.875%, 2/15/12(a) ......................... 250 266,426 ----------------- 273,753,470 ----------------- U.S. Treasury Strips-14.3% Zero coupon, 5/15/17(a) .................... 260,000 143,758,420 Zero coupon, 11/15/21(a) ................... 285,350 119,272,876 ----------------- 263,031,296 ----------------- Federal National Mortgage Association-17.3% 4.00%, 11/25/16(a) ......................... 27,531 27,440,922 4.23%, 4/01/33(c) .......................... 3,882 3,929,827 4.62%, 2/01/34(c) .......................... 10,243 10,421,610 5.00%, 4/25/13 IO(c) ....................... 12,736 971,146 5.00%, 12/25/26-10/25/33(c) ................ 41,803 41,849,603 5.50%, TBA ................................. 38,520 39,795,975 5.50%, TBA ................................. 18,955 19,203,784 6.00%, 5/25/30(c) .......................... 12,219 12,509,650 6.50%, 9/25/42-11/25/44(a) ................. 12,425 13,109,511 6.50%, TBA ................................. 78,215 82,027,981 7.00%, 11/01/18(a) ......................... 64,206 68,145,055 ----------------- 319,405,064 ----------------- Federal Home Loan Mortgage Corporation-6.4% 4.50%, 9/15/13-10/15/26(a)(c) .............. 34,561 34,811,830 5.00%, 6/15/14-3/15/28(a) .................. 73,244 74,715,525 5.00%, 1/15/17-7/15/26 IO(c) ............... 33,954 3,474,642 6.50%, 3/15/28(a) .......................... 5,336 5,596,642 ----------------- 118,598,639 ----------------- Resolution Funding Corp.-3.5% Zero coupon, 10/15/20 ...................... 150,000 65,277,450 ----------------- Government National Mortgage Association-2.2% 5.00%, 4/16/18(a) .......................... 32,082 32,683,554 7.00%, 12/15/26(a) ......................... 6,949 7,448,881 ----------------- 40,132,435 ----------------- Total U.S. Government and Sponsored Agency Obligations (cost $1,741,273,052) ...................... 1,857,115,320 ----------------- SOVEREIGN DEBT OBLIGATIONS-30.2% Argentina-0.8% Republic of Argentina 1.98%, 8/03/12 FRN(c) ...................... U.S.$ 5,451 4,033,740 6.00%,3/31/23 FRN(c) ....................... 6,006 3,153,150 7.00%,12/19/08(c) .......................... 15,157 4,547,100 11.375%,1/30/17(c) ......................... 1,875 571,875 11.750%,12/31/49(c) ........................ 3,675 1,102,500 12.250%,6/19/18(c) ......................... 2,711 772,776 ----------------- 14,181,141 ----------------- Brazil-4.9% Brazilian Real Structured Note Zero coupon, 9/20/07(d) .................... BRL 120,551 24,687,098 Republic of Brazil 7.31%, 6/29/09(c) .......................... U.S.$ 4,891 5,350,754 8.25%,1/20/34(c) ........................... 300 267,450 10.125%,5/15/27(c) ......................... 1,650 1,749,000 10.50%,7/14/14(c) .......................... 2,125 2,367,250 11.00%, 8/17/40 ............................ 5,189 5,814,274 12.00%, 4/15/10(c) ......................... 15,225 18,117,750 12.750%,1/15/20(c) ......................... 975 1,235,813 Republic of Brazil C-Bonds 8.00%, 4/15/14 ............................ 27,331 27,025,328 Republic of Brazil DCB FRN 2.125%, 4/15/12(c) ......................... 3,737 3,464,085 ----------------- 90,078,802 -----------------
Bulgaria-0.0% Republic of Bulgaria 8.25%, 1/15/15(d) .......................... U.S.$ 528 $ 651,910 ----------------- Colombia-1.2% Republic of Colombia 8.25%,12/22/14(c) .......................... 1,152 1,137,600 10.75%, 1/15/13(c) ......................... 1,514 1,735,801 11.75%, 2/25/20(c) ......................... 15,365 18,822,125 ----------------- 21,695,526 ----------------- Ecuador-0.6% Republic of Ecuador 8.00%, 8/15/30(d)(e) ....................... 13,669 11,140,235 ----------------- El Salvador-0.0% Republic of El Salvador 7.625%,9/21/34(d) .......................... 527 540,175 ----------------- Germany-2.5% Federal Republic of Germany 3.50%, 10/10/08(c) ......................... EUR 30,000 37,785,326 4.25%, 2/15/08(c) .......................... 5,989 7,740,428 ----------------- 45,525,754 ----------------- Indonesia-0.1% Republic of Indonesia 6.75%, 3/10/14(d) .......................... U.S.$ 965 942,081 ----------------- Jamaica-0.0% Government of Jamaica 11.75%, 5/15/11(c) ......................... 50 58,250 12.75%, 9/01/07(c) ......................... 200 233,000 ----------------- 291,250 ----------------- Mexico-3.4% Mexican Bonos 8.00%, 12/19/13-12/07/23(c) ................ MXP 43,479 3,309,322 9.00%, 12/20/12(c) ......................... 117,939 9,756,441 9.50%, 3/08/07(c) .......................... 328,855 29,803,748 United Mexican States 6.375%,1/16/13(c) .......................... U.S.$ 426 448,578 8.00%,9/24/22(c) ........................... 3,726 4,201,065 8.125%, 12/30/19(c) ........................ 1,050 1,207,500 9.875%,2/01/10(c) .......................... 6,730 8,298,090 11.375%, 9/15/16(c) ........................ 4,256 6,256,320 ----------------- 63,281,064 ----------------- Panama-0.2% Republic of Panama 8.875%, 9/30/27(c) ......................... 1,350 1,413,450 9.375%, 4/01/29(c) ......................... 169 189,196 9.63%, 2/08/11(c) .......................... 815 936,435 10.75%, 5/15/20(c) ......................... 1,300 1,545,700 ----------------- 4,084,781 ----------------- Peru-0.5% Republic of Peru 8.375%, 5/03/16(c) ......................... 4,013 4,173,520 8.750%,11/21/33(c) ......................... 145 143,913 9.125%, 2/21/12(c) ......................... 3,432 3,818,100 9.875%, 2/06/15(c) ......................... 1,406 1,616,900 ----------------- 9,752,433 ----------------- Philippines-0.5% Republic of Philippines 8.25%, 1/15/14(c) .......................... 750 736,875 9.00%, 2/15/13(c) .......................... 625 643,750 9.875%, 1/15/19(c) ......................... 750 775,500 10.625%, 3/16/25(c) ........................ 6,085 6,510,950 ----------------- 8,667,075 ----------------- Romania-0.3% Romania Structured Note Zero coupon, 12/20/04(d) ................... ROL 172,301,000 5,066,500 ----------------- Russia-7.0% Russian Federation 5.00%, 3/31/30 FRN(d)(e) ................... U.S.$ 8,305 7,983,181 5.00%, 3/31/30(d)(e) ....................... 115,230 110,764,838 Russian Ministry of Finance 3.00%, 5/14/08-5/14/11(c) .................. 12,075 10,664,145 ----------------- 129,412,164 ----------------- South Africa-0.0% Republic of South Africa 7.375%, 4/25/12(c) ......................... 725 817,438 ----------------- Turkey-5.6% Republic of Turkey 9.875%, 3/19/08(c) ......................... 300 336,750 11.00%, 1/14/13(c) ......................... 1,260 1,545,390 11.50%, 1/23/12(c) ......................... 500 622,500 11.75%, 6/15/10(c) ......................... 475 589,713 12.375%, 6/15/09(c) ........................ 1,975 2,458,875 Turkish Lira Structured Notes Zero coupon, 8/25/05(d) .................... TRL 71,284,104,123 38,686,680 Zero coupon, 12/8/05(d) .................... 63,936,550,000 32,437,769 Zero coupon, 2/23/06(c)(d) ................. 54,705,297,816 27,095,228 ----------------- 103,772,905 ----------------- Ukraine-0.8% Government of Ukraine 6.875%, 3/04/11(d) ......................... U.S.$ 5,500 5,390,000 7.65%, 6/11/13(d) .......................... 6,922 6,922,000 11.00%, 3/15/07(d) ......................... 1,605 1,749,863 ----------------- 14,061,863 ----------------- Uruguay-0.3% Republic of Uruguay 3.00%, 1/15/33 PIK(f) ...................... 1,044 843,383 7.25%, 2/15/11(c) .......................... 500 470,000 7.50%, 3/15/15(c) .......................... 4,360 3,858,600 ----------------- 5,171,983 -----------------
Venezuela-1.5% Republic of Venezuela 2.632%,4/20/11(d) .......................... U.S.$ 3,100 $ 2,658,250 5.375%, 8/07/10(d) ......................... 3,800 3,425,700 9.25%, 9/15/27(c) .......................... 21,331 21,021,701 ----------------- 27,105,651 ----------------- Total Sovereign Debt Obligations (cost $487,141,546) ........................ 556,240,731 ----------------- CORPORATE DEBT OBLIGATIONS-13.9% Australia-0.0% WMC Finance USA 5.125%, 5/15/13(c) ......................... 500 503,642 ----------------- Canada-0.7% Fairfax Financial Holdings Ltd. 7.375%, 4/15/18(c) ......................... 4,500 3,645,000 8.30%, 4/15/26(c) .......................... 5,000 4,125,000 Ispat Inland ULC 9.75%, 4/01/14(c) .......................... 5,000 5,512,500 Rogers Cable Inc. 5.50%, 3/15/14(c) .......................... 360 331,200 ----------------- 13,613,700 ----------------- Germany-0.0% Salomon Bros. AG 11.00%, 11/06/07(d) ........................ 10 11,225 ----------------- Japan-0.2% Mizuho Finance 5.79%, 4/15/14(d) .......................... 200 206,346 8.375%, 12/29/49(c) ........................ 2,410 2,607,333 ----------------- 2,813,679 ----------------- Kazakhstan-0.0% Hurricane Finance BV 9.625%, 2/12/10(d) ......................... 200 216,000 Kazkommerts International BV 8.50%, 4/16/13(d) .......................... 125 126,875 ----------------- 342,875 ----------------- Romania-0.3% Mobifon Holdings BV 12.50%, 7/31/10(c) ......................... 5,205 6,089,850 ----------------- Russia-0.1% Gazprom OAO 9.625%, 3/01/13(c) ......................... 160 178,000 9.625%, 3/01/13(d) ......................... 210 233,100 Mobile Telesystems Finance S.A. 9.75%, 1/30/08(d) .......................... 1,185 1,259,063 Tyumen Oil Co. 11.00%, 11/06/07(c) ........................ 80 89,904 ----------------- 1,760,067 ----------------- United Kingdom-0.1% British Telecommunications PLC 7.125%, 2/15/11(c)(e) ...................... EUR 1,500 2,158,073 ----------------- United States -12.6% Amerada Hess Corp. 7.125%, 3/15/33(c) ......................... U.S.$ 500 536,847 American Cellular Corp. 10.00%, 8/01/11(c) ......................... 5,000 4,050,000 Amkor Technologies Inc. 7.75%, 5/15/13(c) .......................... 10,000 8,200,000 Associated Materials Inc. 11.25%, 3/01/14(d)(e) ...................... 12,545 9,126,488 ATA Holdings Corp. 12.125%, 6/15/10(c)(e) ..................... 2,255 800,525 13.00%, 2/01/09(c)(e) ...................... 7,212 2,560,260 Berkley W R Corp 6.15%, 8/15/19(c) .......................... 100 101,274 Berry Plastics Corp. 10.75%, 7/15/12(c) ......................... 6,820 7,706,600 Calpine Corp. 8.50%, 7/15/10(d) .......................... 6,700 5,125,500 Capital One Financial Corp. 6.25%, 11/15/13(c) ......................... 1,005 1,079,137 CBA Capital Trust I 5.805%, 12/31/49(d) ........................ 274 283,604 Charter Communications Holdings 10.75%, 10/01/09(c) ........................ 4,655 3,817,100 11.75%, 5/15/11(c)(g) ...................... 10,000 6,200,000 Clear Channel Communications, Inc. 5.75%, 1/15/13(c) .......................... 220 225,966 Columbia/HCA HealthCare Corp. 6.25%, 2/15/13(c) .......................... 175 180,378 7.58%, 9/15/25(c) .......................... 630 657,046 7.69%, 6/15/25(c) .......................... 355 376,284 Comerica Bank 8.375%, 7/15/24 ............................ 2,000 2,421,052 Continental Airlines, Inc. 6.703%, 12/15/22(c) ........................ 1,944 1,811,440 6.748%, 3/15/17(c) ......................... 62 47,657 7.033%, 6/15/11(c) ......................... 489 377,827 7.875%, 7/02/18(c) ......................... 175 164,725 Cox Communications Inc. 4.625%, 6/01/13(c) ......................... 100 92,213
Delhaize America, Inc. 8.125%, 4/15/11(c) ......................... U.S.$ 110 125,623 Dex Media, Inc. 9.00%, 11/15/13(c)(g) ...................... 7,000 5,127,500 Dominion Resources Capital Trust III 8.40%, 1/15/31(c) .......................... 500 612,180 Dow Jones CDX NA HY 3 7.750%, 12/29/09(d) ........................ 10,000 10,125,000 DPL Inc. 6.875%, 9/01/11(c) ......................... 500 530,000 Duke Capital Corp. 5.50%, 3/01/14(c) .......................... 500 506,903 6.25%, 2/15/13(c) .......................... 1,500 1,613,980 Dura Operating Corp. 9.00%, 5/01/09(c) .......................... 3,000 2,670,000 Farmers Exchange Capital 7.05%, 7/15/28(d) .......................... 200 203,237 First American Capital Trust I 8.50%, 4/15/12(c) .......................... 100 113,500 First Energy Corp. 7.375%, 11/15/31(c) ........................ 1,600 1,796,943 Ford Motor Co. 6.375%, 2/01/29(c) ......................... 473 415,728 7.45%, 7/16/31(c) .......................... 1,277 1,252,137 Freeport-McMoran Copper & Gold, Inc. 10.125%, 2/01/10(c) ........................ 500 565,625 General Motors Corp. 8.375%, 7/15/33(c) ......................... 1,217 1,292,177 Hilcorp Energy I LP 10.50%, 9/01/10(d) ......................... 4,250 4,706,875 HSBC Bank USA 4.625%, 4/01/14(c) ......................... 1,000 980,435 Huntsman ICI Chemicals LLC 10.125%, 7/01/09(c) ........................ 7,500 7,875,000 Huntsman LLC 11.50%, 7/15/12(d) ......................... 5,000 5,518,750 Insight Communications Inc. 1.00%, 2/15/11(c)(e) ....................... 7,000 6,545,000 International Lease Finance Corp. 3.50%, 4/01/09(c) .......................... 496 485,491 Ipalco Enterprises Inc. 8.375%,11/14/08(c) ......................... 100 111,500 J.P. Morgan Chase & Co. 6.625%, 3/15/12 ............................ 1,400 1,571,409 5.125%, 9/15/14(c) ......................... 250 251,340 Kyivstar 10.375%,8/17/09(d) ......................... 200 213,000 Liberty Mutual Group Inc. 5.750%,3/15/14(d) .......................... 170 168,894 Merrill Lynch & Co. 6.00%, 2/17/09(c) .......................... 100 108,268 Milacron Escrow Corp. 11.50%, 5/15/11(d) ......................... 5,000 5,300,000 NCL Corp. LTD 10.625%, 7/15/14(d) ........................ 4,845 5,075,138 Nextel Partners, Inc. 12.50%, 11/15/09(c) ........................ 8,084 9,337,020 Panamsat Holding Corp. 10.375%,11/01/14(d)(g) ..................... 2,755 1,638,123 Paxson Communications Corp. 12.25%, 1/15/09(c)(g) ...................... 10,000 8,575,000 Pemex Project 9.125%, 10/13/10(c) ........................ 500 595,000 Pliant Corp. 13.00%, 6/01/10(c) ......................... 7,625 6,557,500 PSEG Power LLC 5.00%, 4/01/14(c) .......................... 1,000 975,011 Qwest Services Corp. 10.375%,9/01/14(d) ......................... 10,000 10,475,000 Rail America 1.00%,9/29/11(c) ........................... 3,000 3,000,000 Rainbow National Services LLC 14.00%, 12/15/14(d) ........................ 14,907 18,037,470 Rite Aid Corp. 11.25%, 7/01/08(c) ......................... 5,220 5,676,750 Rural Cellular Corp. 9.75%, 1/15/10(c) .......................... 13,000 11,310,000 SBC Communications Inc. 5.875%,8/15/12(c) .......................... 120 131,491 Six Flags, Inc. 9.75%, 4/15/13(c) .......................... 11,005 10,399,725 Sprint Capital Corp. 8.75%, 3/15/32(c) .......................... 6,800 8,630,499 Time Warner Entertainment Co. LP 8.38%, 3/15/23(c) .......................... 145 173,418 Triton PCS Inc. 9.375%,2/01/11(c) .......................... 5,000 3,587,500 TXU Gas Capital I 2.95%, 7/01/28(c) .......................... 230 225,550 Valor Communications 1.00%, 7/01/09(c) .......................... 2,000 2,022,500 Venetian Resort 1.00%, 7/25/11(c) .......................... 340 345,597 Verizon Global Funding Corp. 7.375%, 9/01/12(c) ......................... 741 865,306 7.75%, 6/15/32 1,215 1,458,713
Vitro Envases 10.75%, 7/23/11(d) ......................... U.S.$ 700 686,000 Williams Cos Inc. Series A 7.50%, 1/15/31(c) .......................... 4,025 4,045,125 Woolworth Corp. 8.50%,1/15/22(c) ........................... 300 319,500 WPP Finance 5.875%, 6/15/14(d) ......................... 180 184,462 Zurich Capital Trust 8.376%, 6/01/37(d) ......................... 261 297,860 ----------------- 231,353,676 ----------------- Total Corporate Debt Obligations (cost $254,293,474) ........................ 258,646,787 ----------------- Bank Loans-4.4% Advanced Medical Optics 3.96% ,6/26/09(c) .......................... 1,230 1,245,375 Alderwoods Group Inc. 4.930%,9/17/09(c) .......................... 2,239 2,269,270 Allied Waste 3.64%, 1/15/10 FRN(c) ...................... 1,000 1,012,857 American Safety Razor Co. 4.695%, 4/28/11(c) ......................... 2,993 3,022,425 Belden & Blake Inc 6.00%, 6/30/11(c) .......................... 1,000 1,010,000 Celanese AG 5.73%, 11/01/11(c) ......................... 1,500 1,525,625 Cognis 6.311%, 11/10/13(c) ........................ 1,000 1,015,000 Coinstar Inc. 3.84%, 7/01/11(c) .......................... 1,000 1,015,000 Consolidated Communictions 3.955%, 09/18/11(c) ........................ 1,000 1,010,000 Freedom Communications Inc. 3.77%, 4/04/12(c) .......................... 3,000 3,042,657 Hagemeyer NV 1.00%, 1/15/08(c) .......................... EUR 2,744 3,270,805 Holmes Group Inc. 4.977%, 4/14/11(c) ......................... U.S.$ 1,000 995,000 Huntsman ICI Chemicals LLC 5.062%, 12/31/10(c) ........................ 2,000 2,025,000 Key Automotive 4.86%, 6/01/10(c) .......................... 2,000 2,015,000 Kranson Industries 4.350%, 7/31/11(c) ......................... 1,000 1,005,000 Maax Corp. 4.45%, 6/01/11(c) .......................... 2,000 2,007,500 Medcath Inc. 4.581%, 6/30/11(c) ......................... 1,000 1,011,250 MGM Studios 4.14%, 4/30/11(c) .......................... 4,000 4,009,000 Midwest Generation 4.77%, 4/05/11(c) .......................... 998 1,011,216 Mueller Group 4.350%, 3/24/11(c) ......................... 2,780 2,793,716 Nextel Partners, Inc. 4.31%, 5/18/11(c) .......................... 4,000 4,050,000 Owens Illinois General Inc 4.66%, 4/01/08(c) .......................... 3,000 3,036,249 Panamsat Corp. 4.35%, 7/01/11(c) .......................... 3,000 2,985,000 Prestige Brands 5.19%, 4/15/11(c) .......................... 3,491 3,505,798 Rainbow National Services LLC 4.50%, 3/3/12(c) ........................... 3,000 3,036,000 Refco Group Ltd. 4.461%, 8/31/11(c) ......................... 1,000 998,333 Resolution Specialty 4.437%, 8/01/10(c) ......................... 2,000 2,013,750 Riddell Bell Holdings 1.00%, 9/22/11(c) .......................... 1,000 1,014,583 Riverside 6.02%, 6/22/11(c) .......................... 1,671 1,679,558 Rockwood Specialties 3.98%, 7/30/12(c) .......................... 1,000 1,005,625 Rocky Mountain Energy Center 6.025, 6/22/11(c) .......................... 1,328 1,335,442 Sealy Mattress 4.243%, 3/31/12(c) ......................... 2,299 2,322,098 Simmons Company 4.359%, 12/19/11(c) ........................ 2,500 2,519,533 United Industries Corp. 3.97%, 3/31/11(c) .......................... 995 1,006,193 6.175%, 10/31/11(c) ........................ 1,000 1,015,000 Venetian Resort 6.25%, 7/25/11(c) .......................... 2,159 2,188,778 Verifone Inc. 4.18%, 6/09/11(c) .......................... 1,000 1,010,000 VWR International 4.34%, 4/05/11(c) .......................... 3,204 3,251,055 Warner Music Group 4.23%, 3/22/11(c) .......................... 3,480 3,524,749 Western Wireless Term B1 4.66%, 5/30/11(c) .......................... 3,500 3,546,249 ----------------- Total Bank Loans (cost $80,700,386) ......................... 81,355,689 -----------------
Contracts (j), Shares or Principal Amount (000) U.S. $ Value -------------- ----------------- NON-CONVERTIBLE PREFERRED STOCK-0.1% Banco Santander 6.41%(d) ................................... 4,000 99,000 Duquesne Light Co. 6.50%(c) ................................... 14,950 773,663 EIX Trust II, Series B 8.60%(c) ................................... 9,150 232,136 Zurich Funding Trust 1.71%(d) ................................... 500 486,250 ----------------- Total Non-Convertible Preferred Stocks (cost $1,566,038) .......................... 1,591,049 ----------------- CALL OPTIONS PURCHASED(h)-0.0% Brazil-0.0% Republic of Brazil 11.00%, 8/17/40 Expiring October'04@112.5 .................. 2,950 44,250 Expiring October'04@113.0 .................. 2,950 38,350 Expiring October'04@111.5 .................. 1,750 33,250 ----------------- Total Call Options Purchased (cost $149,155) ............................ 115,850 ----------------- WARRANTS(h)-0.0% Central Bank of Nigeria expiring 11/15/20 .......................... 4,500 0 Republic of Venezuela expiring 4/15/20 ........................... 1,785 0 ----------------- Total Warrants (cost $0) .................................. 0 ----------------- SHORT-TERM INVESTMENTS-4.5% Repurchase Agreement-4.0% Deutsche Bank Repo 1.70%, 09/30/04, due 10/01/04 in the amount of $74,103,499 (collateralized by $72,770,000 FNMA, 1.70% due 6/15/06; value - $74,100,000) (cost $74,100,000) ......................... U.S.$ 74,100 74,100,000 ----------------- U.S. Treasury Obligation-0.5% U.S. Treasury Bill Zero Coupon, 11/12/04 (amortized cost $8,985,195)(i) ............. 9,000 8,985,195 ----------------- Total Short-Term Investments (cost $83,085,195) ......................... 83,085,195 ----------------- Total Investments Before Security Lending Collateral-153.9% (cost $2,648,208,846) ...................... 2,838,150,621 ----------------- Investment of Cash Collateral for Securities Loaned-5.1% Short-Term Investment UBS Private Money Market Fund LLC 1.64% (cost $94,789,780) ......................... 94,789,780 ----------------- Total Investments-159.0% (cost $2,742,998,626) ...................... 2,932,940,401 Other assets less liabilities-(59.0%) ................. (1,089,555,713) ----------------- NET ASSETS-100% ....................................... $ 1,843,384,688 =================
FORWARD EXCHANGE CURRENCY CONTRACTS
U.S. $ Value on Contract Origination U.S. $ Current Unrealized Amount (000) Date Value (Depreciation) =========================================================================================================================== Sale Contracts Euro, settling 10/26/04 ............ 41,936 $ 51,568,681 $ 52,064,061 $ (495,380) Mexican Peso, settling 10/13/04 ............ 480,184 41,526,894 42,079,255 (552,361)
FINANCIAL FUTURES CONTRACTS SOLD
Unrealized Number of Expiration Original Value at Appreciation/ Type Contracts Month Value September 30, 2004 (Depreciation) ================================================================================================================================= U.S. Treasury Note December 10 Year Futures 605 2004 $ 67,976,410 $ 68,138,125 $ (161,715) U.S. Treasury Note December 5 Year Futures 6,778 2004 743,321,288 750,663,500 (7,342,212) U.S. Treasury Note December 2 Year Futures 1,526 2004 322,566,399 322,343,658 222,741 10 Year Swap December Futures 975 2004 107,586,629 107,981,250 (394,621) ----------- $(7,675,807) -----------
CREDIT DEFAULT SWAP CONTRACTS
Notional Interest Unrealized Swap Counterparty & Amount Rate Termination Appreciation Referenced Obligation (000) (%) Date (Depreciation) ========================================================================================================================== Buy Contracts: Citigroup Global Markets, Inc. Republic of Hungary 4.50%, 2/06/13 10,250 0.50% 11/26/13 $(181,741) Citigroup Global Markets, Inc. Republic of Philippines 10.625%, 3/16/25 3,360 5.60 3/20/14 (79,001) JP Morgan Chase Republic of Ecuador 7.00%, 8/15/30 650 3.70 4/30/05 (16,647) Sale Contracts: Citigroup Global Markets, Inc. Republic of Brazil 12.25%, 3/06/30 3,000 6.35 8/20/05 175,042 Citigroup Global Markets, Inc. Republic of Brazil 12.25%, 3/06/30 6,275 4.40 5/20/06 408,642 Citigroup Global Markets, Inc. Republic of Philippines 10.625%, 3/16/25 3,360 4.95 3/20/09 86,842 Citigroup Global Markets, Inc. Republic of Venezuela 9.25%, 9/15/27 4,000 6.00 5/20/06 384,667 Citigroup Global Markets, Inc. United Mexican States 8.30%, 8/15/31 500 2.40 5/20/14 37,750 Citigroup Global Markets, Inc. United Mexican States 8.30%, 8/15/31 1,450 2.05 5/20/09 77,492 Credit Suisse First Bostion Republic of Brazil 12.25%, 3/06/30 600 6.90 6/20/07 74,100 Morgan Stanley Capital Services Inc. Republic of Brazil 12.25%, 3/06/30 4,800 3.80 8/20/06 175,307
REVERSE REPURCHASE AGREEMENTS Interest Broker Rate Maturity Amount ================================================================================ Citigroup 0.75 % 12/30/05 $ 17,419,703 Citigroup 1.53 10/06/04 49,463,027 Citigroup 1.65 10/06/04 98,569,341 Citigroup 1.65 10/06/04 98,766,197 Citigroup 1.65 10/06/04 39,675,134 Lehman Brothers 1.55 10/06/04 61,338,727 Merrill Lynch 1.40 10/01/04 12,147,369 Merrill Lynch 1.50 10/06/04 34,080,010 Merrill Lynch 1.60 10/06/04 39,042,156 State Street 1.53 10/06/04 33,365,404 ------------ $483,867,068 ============ (a) Positions, or portion thereof, with an aggregate market value of $1,112,663,132 have been segregated to collateralize the loan outstanding. (b) Positions, or portion thereof, with an aggregate market value of $460,121,305 have been segregated to collateralize reverse repurchase agreements. (c) Positions, or portion thereof, with an aggregate market value of $577,624,407 have been segregated to collateralize open forward exchange currency contracts. (d) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2004, the aggregate market value of these securities amounted to $359,944,765 or 19.53% of net assets. (e) Coupon increases periodically based upon a predetermined schedule. Stated interest rate in effect at September 30, 2004. (f) PIK (Paid in Kind) preferred quarterly stock payable. (g) Indicates a security that has a zero coupon that remains in effect until a predetermined date at which time the stated coupon rate becomes effective until final maturity. (h) Non-income producing security. (i) Position, or a portion thereof, with an aggregate market value of $8,985,195 has been segregated as collateral for the futures transactions outstanding at September 30, 2004. (j) One contract relates to principal amount of $1.00 Currency Abbreviations: BRL - Brazilian Real EUR - Euro MXP - Mexican Peso ROL - Romania Leu TRL - Turkish Lira U.S.$ - United States Dollar Glossary of Terms: DCB - Debt Conversion Bond FNMA - Federal National Mortgage Association FRN - Floating Rate Note IO - Interest Only Securities TBA - (To Be Assigned) - Securities are purchased on a forward commitment with an approximate principal amount (generally +/- 1.0%) and no definite maturity date. The actual principal amount and maturity date will be determined upon settlement when the specific mortgage pools are assigned. 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-2(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 controls 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): ACM Income Fund, Inc. By: /s/ Marc O. Mayer Marc O. Mayer President Date: November 29, 2004 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/ Marc O. Mayer Marc O. Mayer President Date: November 29, 2004 By: /s/ Mark D. Gersten Mark D. Gersten Treasurer and Chief Financial Officer Date: November 29, 2004 EX-99.11(A)(1) 2 ex9911a1.txt CERTIFICATION CERTIFICATIONS I, Marc O. Mayer, certify that: 1. I have reviewed this report on Form N-Q of ACM Income Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 29, 2004 /s/ Marc O. Mayer Marc O. Mayer President EX-99.11(A)(2) 3 ex9911a2.txt CERTIFICATION CERTIFICATIONS I, Mark D. Gersten, certify that: 1. I have reviewed this report on Form N-Q of ACM Income Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 29, 2004 /s/ Mark D. Gersten Mark D. Gersten Treasurer and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----