AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, May 28, 2013 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of April 30, 2013.
AllianceBernstein National Municipal Income Fund, Inc. |
|
Top 10 Fixed-Income Holdings |
|
Portfolio % |
|
1) Texas Trnsp Comm 5.00%, 4/01/23 |
3.27% |
2) Metropolitan Trnsp Auth NY (Metro Trnsp Auth NY Ded Tax) Series 2012A 5.00%, 11/15/28 |
2.80% |
3) Wayne State Univ MI Series 2009 5.00%, 11/15/29 |
2.53% |
4) Washington Fed Hwy Grant Series 2012F 5.00%, 9/01/24 |
2.53% |
5) Metro Atlanta Rapid Tran Auth GA 5.00%, 7/01/27 |
2.16% |
6) Harris City TX Toll Road (Harris Cnty TX Toll Road) Series 2012 5.00%, 8/15/30 |
1.96% |
7) Univ of Illinois AGM 5.25%, 10/01/26 |
1.71% |
8) Triborough Brdg & Tunl Auth NY 5.00%, 1/01/26 |
1.66% |
9) San Francisco City/Cnty CA Pub Util Wtr Series 2012C 5.00%, 11/01/27 |
1.33% |
10) Texas GO Series 02A 5.50%, 8/01/41 |
1.31% |
Sector/Industry Breakdown |
|
Portfolio % |
|
Revenue |
|
Water & Sewer |
9.91% |
Toll Roads/Transit |
8.84% |
Revenue - Miscellaneous |
8.08% |
Higher Education - Public |
3.85% |
Airport |
3.37% |
Electric Utility |
3.30% |
Health Care - Not-for-Profit |
3.28% |
Higher Education - Private |
2.33% |
Industrial Development - Utility |
1.69% |
Primary/Secondary Ed. - Private |
0.82% |
Senior Living |
0.81% |
Prepay Energy |
0.67% |
Primary/Secondary Ed. - Public |
0.41% |
SUBTOTAL |
47.36% |
Tax Supported |
|
Special Tax |
17.09% |
Local G.O. |
10.80% |
State G.O. |
5.70% |
Tax-Supported Local Lease |
3.05% |
Assessment District |
2.52% |
State Lease |
1.71% |
Tax-Supported State Lease |
1.40% |
SUBTOTAL |
42.27% |
Prerefunded/ETM |
4.15% |
Insured/Guaranteed |
|
Insured |
2.48% |
Guaranteed |
1.46% |
SUBTOTAL |
3.94% |
Asset-Backed |
|
Housing - Multi-Family |
1.62% |
Housing - Single Family |
0.55% |
SUBTOTAL |
2.17% |
Cash Equivalents |
|
Investment Companies |
0.11% |
SUBTOTAL |
0.11% |
Total |
100.00% |
State Breakdown |
|
Portfolio % |
|
Texas |
18.70% |
New York |
14.76% |
California |
12.64% |
Florida |
6.70% |
Illinois |
5.66% |
Washington |
4.82% |
Michigan |
4.54% |
Louisiana |
4.16% |
South Carolina |
3.53% |
Colorado |
2.61% |
Georgia |
2.16% |
Ohio |
1.72% |
New Jersey |
1.68% |
Oregon |
1.53% |
Pennsylvania |
1.41% |
Hawaii |
1.40% |
Alaska |
1.37% |
Puerto Rico |
1.23% |
Alabama |
1.15% |
Massachusetts |
1.07% |
Nevada |
1.04% |
Wisconsin |
0.88% |
Arizona |
0.85% |
Rhode Island |
0.82% |
North Carolina |
0.59% |
Mississippi |
0.55% |
Virginia |
0.50% |
Tennessee |
0.37% |
Maine |
0.34% |
Missouri |
0.31% |
Indiana |
0.31% |
Kansas |
0.20% |
Minnesota |
0.17% |
New Hampshire |
0.12% |
Other |
0.11% |
Total Investments |
100.00% |
Credit Quality Breakdown |
|
Portfolio % |
|
AAA |
19.20% |
AA |
51.53% |
A |
13.28% |
BBB |
8.12% |
BB |
0.29% |
B |
0.43% |
Not Rated |
2.89% |
Pre-refunded Bonds |
4.15% |
Short Term Investments |
0.11% |
Total Investments |
100.00% |
Bonds By Maturity |
|
Portfolio % |
|
Less than 1 year |
1.48% |
1 to 5 years |
3.49% |
5 to 10 years |
11.91% |
10 to 20 years |
75.11% |
20 to 30 years |
8.01% |
More than 30 years |
0.00% |
Other |
0.00% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percentage: |
8.13% |
Average Coupon: |
5.66% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
2.43% |
Preferred Stock: |
35.81% |
Tender Option Bonds: |
6.32% |
Term Asset-Backed Loans Facility (TALF): |
0.00% |
Total Fund Leverage: |
44.56%* |
Average Effective Maturity: |
6.03 Years |
Effective Duration: |
5.42 Years |
Total Net Assets: |
$676.43 Million** |
Common Stock Net Asset Value: |
$15.11 |
Number of Holdings: |
195 |
Portfolio Turnover: |
28% |
* The total percentage of leverage constitutes 6.32% through the use of tender option bonds, 35.81% in issued and outstanding preferred stock and 2.43% 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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