AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Mar 25, 2013, 16:06 ET from AllianceBernstein National Municipal Income Fund, Inc.

NEW YORK, March 25, 2013 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of February 28, 2013.

AllianceBernstein National Municipal Income Fund, Inc.


Top 10 Fixed-Income Holdings 

Portfolio %

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

3.36%

2) Metropolitan Trnsp Auth NY (Metro Trnsp Auth

2.86%

Ny Ded Tax)  Series 2012A  5.00%,  11/15/28


3) Wayne State Univ MI   Series 2009  5.00%, 11/15/29

2.59%

4) Washington Fed Hwy Grant   Series 2012F 5.00%, 9/01/24

2.57%

5) Metro Atlanta Rapid Tran Auth GA     5.00%, 7/01/27

2.20%

6) Harris City TX Toll Road (Harris Cnty Tx Toll Road)

2.03%

      Series 2012 5.00%, 8/15/30


7) Univ of Illinois   AGM  5.25%,  10/01/26

1.77%

8) Triborough Brdg & Tunl Auth NY     5.00%, 1/01/26

1.69%

9) San Francisco City/Cnty CA Pub Util Wtr 5.00%, 11/01/27

1.37%

10) Texas GO   Series 02A  5.50%,  8/01/41

1.33%



Sector/Industry Breakdown

Portfolio %



  Revenue


    Water & Sewer

10.14%

    Revenue - Miscellaneous

8.24%

    Toll Roads/Transit

7.42%

    Higher Education - Public

3.93%

    Airport

3.43%

    Electric Utility

3.37%

    Health Care - Not-for-Profit

3.36%

    Industrial Development - Utility

1.73%

    Higher Education - Private

1.59%

    Primary/Secondary Ed. - Private

0.84%

    Senior Living

0.83%

    Prepay Energy

0.69%

    Primary/Secondary Ed. - Public

0.42%

SUBTOTAL

45.99%

Tax Supported


    Special Tax

17.46%

    Local G.O.

11.53%

    State G.O.

5.23%

    Tax-Supported Local Lease

3.40%

    Assessment District

2.59%

    State Lease

1.77%

    Tax-Supported State Lease

1.43%

SUBTOTAL

43.41%

Prerefunded/ETM

4.26%

Insured/Guaranteed


    Insured

2.55%

    Guaranteed

1.49%

SUBTOTAL

4.04%

Asset-Backed


    Housing - Multi-Family

1.65%

    Housing - Single Family

0.63%

SUBTOTAL

2.28%

Cash Equivalents


    Investment Companies

0.02%

SUBTOTAL

0.02%

Total

100.00%



State Breakdown

Portfolio %

Texas

19.31%

New York

15.05%

California

13.00%

Florida

6.85%

Washington

4.90%

Michigan

4.64%

Louisiana

4.25%

Illinois

4.17%

South Carolina

3.58%

Colorado

2.67%

Georgia

2.20%

Ohio

1.76%

New Jersey

1.73%

Oregon

1.56%

Pennsylvania

1.44%

Hawaii

1.43%

Alaska

1.41%

Puerto Rico

1.28%

Alabama

1.17%

Nevada

1.07%

Wisconsin

0.96%

Arizona

0.87%

Rhode Island

0.84%

North Carolina

0.61%

Mississippi

0.56%

Virginia

0.51%

Tennessee

0.38%

Maine

0.35%

Indiana

0.32%

Missouri

0.32%

Massachusetts

0.30%

Kansas

0.20%

Minnesota

0.17%

New Hampshire

0.12%

Other

0.02%

Total Investments

100.00%



      Credit Quality Breakdown

Portfolio %

          AAA

19.59%

          AA

51.85%

          A

12.24%

          BBB

8.54%

          BB

0.29%

          B

0.43%

          Not Rated

2.78%

          Pre-refunded Bonds

4.26%

          Short Term Investments

0.02%

          Total Investments

100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

2.32%

1 to 5 years

2.41%

5 to 10 years

9.69%

10 to 20 years

78.10%

20 to 30 years

7.48%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


    AMT Percentage:

8.32%

    Average Coupon:

5.57%



    Percentage of Leverage:


        Bank Borrowing:

0.00%

        Investment Operations:

0.00%

        Preferred Stock:

35.83%

        Tender Option Bonds:

6.33%

        Term Asset-Backed Loans Facility (TALF):

0.00%

        Total Fund Leverage:

42.16%*

    Average Effective Maturity:

5.85 Years

    Effective Duration:

5.25 Years

    Total Net Assets:

$675.97 Million**

    Common Stock Net Asset Value:

$15.09

    Number of Holdings:

192

    Portfolio Turnover:

28%

* The total percentage of leverage constitutes 6.33% through the use of tender option bonds, 35.83% 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.