AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Apr 23, 2013, 16:06 ET from AllianceBernstein National Municipal Income Fund, Inc.

NEW YORK, April 23, 2013 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of March 31, 2013.

AllianceBernstein National Municipal Income Fund, Inc.



Top 10 Fixed-Income Holdings 



Portfolio %

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

3.35%

2) Metropolitan Trnsp Auth NY (Metro Trnsp Auth 

2.81%

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


3) Wayne State Univ MI   Series 2009  5.00%,          

2.56%

    11/15/29


4) Washington Fed Hwy Grant   Series 2012F          

2.54%

    5.00%,  9/01/24


5) Metro Atlanta Rapid Tran Auth GA     5.00%,       

2.17%

    7/01/27


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

2.00%

    Road)  Series 2012  5.00%,  8/15/30


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

1.73%

8) Triborough Brdg & Tunl Auth NY     5.00%,        

1.67%

    1/01/26


9) San Francisco City/Cnty CA Pub Util Wtr              

1.34%

    5.00%,  11/01/27


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

1.33%



Sector/Industry Breakdown



Portfolio %

Revenue


     Water & Sewer                        

10.00%

     Revenue - Miscellaneous            

8.16%

     Toll Roads/Transit                       

7.32%

     Higher Education - Public         

3.89%

     Airport                                     

3.43%

     Health Care - Not-for-Profit         

3.35%

     Electric Utility                            

3.33%

     Industrial Development - Utility     

1.73%

     Higher Education - Private            

1.58%

     Primary/Secondary Ed. - Private    

0.84%

     Senior Living                                 

0.82%

     Prepay Energy                               

0.68%

     Primary/Secondary Ed. - Public              

0.42%

SUBTOTAL                                            

45.55%

Tax Supported 


     Special Tax        

17.31%

     Local G.O.          

11.39%

     State G.O.           

6.11%

     Tax-Supported Local Lease           

3.40%

     Assessment District                      

2.57%

     State Lease                                   

1.73%

     Tax-Supported State Lease              

1.41%

SUBTOTAL                                           

43.92%

Prerefunded/ETM                                    

4.24%

Insured/Guaranteed


     Insured                     

2.53%

     Guaranteed                 

1.48%

SUBTOTAL                      

4.01%

Asset-Backed


     Housing - Multi-Family

1.65%

     Housing - Single Family 

0.63%

SUBTOTAL                     

2.28%

Total                                 

100.00%



State Breakdown



Portfolio %

Texas                                

19.14%

New York                            

14.88%

California                                       

13.80%

Florida                                           

6.80%

Washington                                    

4.85%

Michigan                                         

4.58%

Louisiana                                         

4.22%

Illinois                                               

4.12%

South Carolina                                    

3.55%

Colorado                                             

2.66%

Georgia                                            

2.17%

Ohio                                                 

1.74%

New Jersey                             

1.70%

Oregon                                    

1.55%

Pennsylvania                            

1.43%

Hawaii                                      

1.42%

Alaska                                      

1.40%

Puerto Rico                                

1.27%

Alabama                   

1.17%

Nevada                      

1.07%

Wisconsin                  

0.96%

Arizona                       

0.87%

Rhode Island                

0.84%

North Carolina               

0.61%

Mississippi                      

0.56%

Virginia                            

0.50%

Tennessee                       

0.37%

Maine                               

0.34%

Indiana                              

0.32%

Missouri                             

0.32%

Massachusetts                    

0.30%

Kansas                                

0.20%

Minnesota                             

0.17%

New Hampshire                      

0.12%

Total Investments                    

100.00%


Credit Quality Breakdown




 Portfolio % 


AAA                

19.46%


AA                      

51.28%


A                       

13.06%


BBB                                    

8.30%


BB 

0.29%


B                            

0.43%


Not Rated      

2.94%


Pre-refunded Bonds             

4.24%


Total Investments                   

100.00%




Bonds By Maturity



Portfolio %

Less than 1 year          

2.30%

1 to 5 years                  

2.74%

5 to 10 years                 

9.31%

10 to 20 years                

78.21%

20 to 30 years                 

7.44%

More than 30 years           

0.00%

Other                                

0.00%

Total Investments                

100.00%


Portfolio Statistics:


     AMT Percentage:    

8.20%

     Average Coupon:      

5.62%

     Percentage of Leverage:


          Bank Borrowing:            

0.00%

          Investment Operations:   

0.99%

          Preferred Stock:              

36.14%

          Tender Option Bonds:       

6.38%

          Term Asset-Backed Loans Facility (TALF):         

0.00%

          Total Fund Leverage:             

43.51%*

     Average Effective Maturity:      

5.90 Years

     Effective Duration:                   

5.26 Years

     Total Net Assets:                     

$670.20 Million**

     Common Stock Net Asset Value:                

$14.89

     Number of Holdings:                     

192

     Portfolio Turnover:                         

28%

* The total percentage of leverage constitutes 6.38% through the use of tender option bonds, 36.14% in issued and outstanding preferred stock and 0.99% 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.