AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Sep 25, 2012, 16:06 ET from AllianceBernstein National Municipal Income Fund, Inc.

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.