AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Sept. 25, 2012 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of August 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 |
3.36% |
2) Wayne State Univ MI Series 2009 5.00%, 11/15/29 |
2.61% |
3) Washington Fed Hwy Grant Series 2012F 5.00%, 9/01/24 |
2.59% |
4) Metro Atlanta Rapid Tran Auth GA 5.00%, 7/01/27 |
2.18% |
5) Chicago IL O'Hare Intl Arpt (O'hare Intl Arpt) NPFGC Series A 5.375%, 1/01/32 |
2.10% |
6) Triborough Brdg & Tunl Auth NY 5.00%, 1/01/26 |
1.69% |
7) New York NY Trnsl Fin Auth Series 2011B 5.00%, 2/01/26 |
1.68% |
8) Univ of Illinois AGM Series 07A 5.25%, 10/01/26 |
1.67% |
9) San Francisco City/Cnty CA Pub Util Commn Wtr 5.00%, 11/01/27 |
1.36% |
10) Los Angeles CA Regl Arpts Impt Corp. (Laxfuel Corp.) AMBAC Series 01 5.50%, 1/01/32 |
1.33% |
Sector/Industry Breakdown |
Portfolio % |
Revenue |
|
Water & Sewer |
10.16% |
Airport |
6.71% |
Revenue - Miscellaneous |
5.43% |
Health Care - Not-for-Profit |
4.74% |
Higher Education - Public |
3.94% |
Electric Utility |
3.53% |
Industrial Development - Utility |
2.44% |
Toll Roads/Transit |
2.33% |
Higher Education - Private |
1.57% |
Industrial Development - Airline |
1.33% |
Primary/Secondary Ed. - Private |
0.84% |
Senior Living |
0.83% |
Prepay Energy |
0.64% |
Primary/Secondary Ed. - Public |
0.50% |
SUBTOTAL |
44.99% |
Tax Supported |
|
Special Tax |
15.62% |
Local G.O. |
11.65% |
State G.O. |
5.36% |
Tax-Supported Local Lease |
3.47% |
Assessment District |
2.93% |
State Lease |
1.67% |
Tax-Supported State Lease |
1.50% |
SUBTOTAL |
42.20% |
Prerefunded/ETM |
5.70% |
Insured/Guaranteed |
|
Insured |
2.55% |
Guaranteed |
1.49% |
SUBTOTAL |
4.04% |
Asset-Backed |
|
Housing - Multi-Family |
1.65% |
Housing - Single Family |
0.69% |
SUBTOTAL |
2.34% |
Cash Equivalents |
|
Investment Companies |
0.73% |
SUBTOTAL |
0.73% |
Total |
100.00% |
State Breakdown |
Portfolio % |
Texas |
16.95% |
New York |
12.90% |
California |
12.89% |
Illinois |
6.42% |
Florida |
6.30% |
Michigan |
5.31% |
Washington |
4.92% |
Louisiana |
4.34% |
South Carolina |
3.60% |
Colorado |
2.78% |
Georgia |
2.18% |
Pennsylvania |
1.76% |
Ohio |
1.76% |
Virginia |
1.72% |
Oregon |
1.55% |
Alaska |
1.43% |
Hawaii |
1.41% |
Puerto Rico |
1.38% |
Alabama |
1.17% |
Nevada |
1.08% |
Wisconsin |
1.04% |
Rhode Island |
0.84% |
Arizona |
0.83% |
New Jersey |
0.81% |
Massachusetts |
0.79% |
North Carolina |
0.61% |
Mississippi |
0.56% |
Missouri |
0.40% |
Tennessee |
0.37% |
Maine |
0.35% |
Indiana |
0.33% |
Kansas |
0.20% |
Minnesota |
0.17% |
New Hampshire |
0.12% |
Other |
0.73% |
Total Investments |
100.00% |
Credit Quality Breakdown |
Portfolio % |
AAA |
21.30% |
AA |
43.11% |
A |
15.54% |
BBB |
9.94% |
B |
0.43% |
Not Rated |
3.25% |
Pre-refunded Bonds |
5.70% |
Short Term Investments |
0.73% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percentage: |
17.42% |
Average Coupon: |
5.60% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
0.00% |
Preferred Stock: |
35.64% |
Tender Option Bonds: |
6.29% |
Term Asset-Backed Loans Facility (TALF): |
0.00% |
Total Fund Leverage: |
41.93%* |
Average Effective Maturity: |
5.37 Years |
Effective Duration: |
4.85 Years |
Total Net Assets: |
$679.56 Million** |
Common Stock Net Asset Value: |
$15.23 |
Number of Holdings: |
198 |
Portfolio Turnover: |
10% |
* The total percentage of leverage constitutes 6.29% through the use of tender option bonds, 35.64% in issued and outstanding preferred stock and 0.00% 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.
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