AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Aug 29, 2012, 16:06 ET from AllianceBernstein National Municipal Income Fund, Inc.

NEW YORK, Aug. 29, 2012 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of July 31, 2012.

 

AllianceBernstein National Municipal Income Fund, Inc.





Top 10 Fixed-Income Holdings



Portfolio %

1) Texas Trnsp Comm   Series 07  5.00%,  4/01/23       

3.29%

2) Wayne State Univ MI   Series 2009  5.00%,           

2.57%

11/15/29


3) Washington Fed Hwy Grant   Series 2012F     

2.57%

5.00%,  9/01/24


4) Metro Atlanta Rapid Tran Auth GA     5.00%,    

2.16%

7/01/27


5) Chicago IL O'Hare Intl Arpt (O'hare Intl Arpt)     

2.07%

NPFGC Series A  5.375%,  1/01/32


6) New York NY Trnsl Fin Auth   Series 2011B      

1.66%

5.00%,  2/01/26


7) Triborough Brdg & Tunl Auth NY     5.00%,    

1.66%

1/01/26


8) Univ of Illinois   AGM Series 07A 5.25%,          

1.65%

10/01/26


9) City of San Francisco CA Public Utilities          

1.34%

Commission Water Revenue      5.00%,  11/01/27


10) Los Angeles CA Regl Arpts Impt Corp. (Laxfuel      

1.31%

Corp.) AMBAC Series 01  5.50%,  1/01/32




Sector/Industry Breakdown



Portfolio %

Revenue


    Water & Sewer                    

10.02%

    Airport                                

6.62%

    Revenue - Miscellaneous           

5.36%

    Health Care - Not-for-Profit        

5.32%

    Higher Education - Public         

3.89%

    Electric Utility                      

3.49%

    Industrial Development - Utility       

2.40%

    Toll Roads/Transit                      

2.28%

    Higher Education - Private       

1.55%

    Industrial Development - Airline         

1.31%

    Primary/Secondary Ed. - Private      

0.83%

    Senior Living                               

0.82%

    Prepay Energy                           

0.63%

    Primary/Secondary Ed. - Public         

0.49%

SUBTOTAL

45.01%

Tax Supported


    Special Tax

15.40%

    Local G.O.

11.46%

    State G.O.

5.28%

    Tax-Supported Local Lease

3.41%

    Assessment District

3.10%

    State Lease

1.65%

    Tax-Supported State Lease

1.48%

SUBTOTAL

41.78%

Prerefunded/ETM

6.91%

Insured/Guaranteed


    Insured

2.51%

    Guaranteed

1.48%

SUBTOTAL

3.99%

Asset-Backed


    Housing - Multi-Family

1.63%

    Housing - Single Family

0.68%

SUBTOTAL

2.31%

Total

100.00%



State Breakdown



Portfolio %

Texas                           

17.69%

California                       

13.35%

New York                     

12.71%

Illinois                          

6.33%

Florida                       

6.18%

Michigan                      

5.25%

Washington                 

4.87%

Louisiana                   

4.24%

South Carolina           

3.53%

Colorado                   

2.73%

Georgia                   

2.16%

Ohio                         

1.74%

Pennsylvania             

1.74%

Alabama                       

1.71%

Virginia                         

1.70%

Oregon                         

1.53%

Alaska                          

1.41%

Hawaii                            

1.40%

Puerto Rico                   

1.38%

Nevada                           

1.04%

Wisconsin                        

1.02%

Rhode Island                   

0.83%

Arizona                      

0.81%

New Jersey                 

0.80%

Massachusetts                

0.78%

North Carolina                  

0.60%

Mississippi                 

0.55%

Missouri                    

0.39%

Tennessee                  

0.37%

Maine              

0.34%

Indiana       

0.33%

Kansas           

0.20%

Minnesota           

0.17%

New Hampshire        

0.12%

Total Investments      

100.00%



     Credit Quality Breakdown



Portfolio %

         AAA                       

20.99%

         AA                       

42.51%

         A                           

15.07%

         BBB                     

10.69%

         B                         

0.42%

         Not Rated                

3.41%

         Pre-refunded Bonds           

6.91%

         Total Investments             

100.00%



Portfolio Statistics:

  AMT Percentage:        

17.75%

  Average Coupon:          

5.60

  Percentage of Leverage: 


       Bank Borrowing:                 

0.00%

       Investment Operations:       

0.84%

       Preferred Stock:                   

35.63%

       Tender Option Bonds:          

6.29%

       Term Asset-Backed Loans Facility (TALF):     

0.00%

       Total Fund Leverage:          

                                   42.76%*

  Average Effective Maturity:      

                              5.49 Years

  Effective Duration:                 

                              4.85 Years

  Total Net Assets:         

                      $679.76 Million**

  Common Stock Net Asset Value:          

$15.23

  Number of Holdings:                   

200

  Portfolio Turnover:                   

10

 

* The total percentage of leverage constitutes 6.29% through the use of tender option bonds, 35.63% in issued and outstanding preferred stock and 0.84% in investment operations, which 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.

** Includes 242,225,000 of preferred stock at liquidation value.

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.

SOURCE AllianceBernstein National Municipal Income Fund, Inc.