AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Oct. 29, 2013 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of September 30, 2013.
AllianceBernstein National Municipal Income Fund, Inc. |
|
Top 10 Fixed-Income Holdings |
|
Portfolio % |
|
1) Texas Trnsp Comm 5.00%, 4/01/23 |
3.42% |
2) Wayne State Univ MI Series 2009A 5.00%, 11/15/29 |
2.56% |
3) Washington Fed Hwy Grant Series 2012F 5.00%, 9/01/24 |
2.18% |
4) Univ of Illinois AGM 5.25%, 10/01/26 |
1.75% |
5) Triborough Brdg & Tunl Auth NY Series 2011A 5.00%, 1/01/26 |
1.66% |
6) Los Angeles CA Dept W&P Pwr Series 2013B 5.00%, 7/01/30 |
1.62% |
7) New York NY GO Series 2012I 5.00%, 8/01/28 |
1.43% |
8) Texas GO Series 2002A 5.50%, 8/01/41 |
1.41% |
9) Washington St COP (Washington St Go) Series 2012R 5.00%, 7/01/26 |
1.39% |
10) Coast CA CCD GO AGM 5.00%, 8/01/24 |
1.35% |
Sector/Industry Breakdown |
|
Portfolio % |
|
Revenue |
|
Water & Sewer |
9.34% |
Toll Roads/Transit |
8.89% |
Revenue - Miscellaneous |
7.74% |
Higher Education - Public |
4.79% |
Airport |
4.71% |
Electric Utility |
4.63% |
Health Care - Not-for-Profit |
3.13% |
Higher Education - Private |
2.02% |
Industrial Development - Utility |
1.79% |
Primary/Secondary Ed. - Private |
0.87% |
Prepay Energy |
0.67% |
Senior Living |
0.65% |
Primary/Secondary Ed. - Public |
0.41% |
SUBTOTAL |
49.64% |
Tax Supported |
|
Special Tax |
15.23% |
Local G.O. |
10.28% |
State G.O. |
7.34% |
Assessment District |
2.65% |
Tax-Supported Local Lease |
1.84% |
State Lease |
1.75% |
Tax-Supported State Lease |
1.43% |
SUBTOTAL |
40.52% |
Insured/Guaranteed |
|
Insured |
2.25% |
Guaranteed |
1.50% |
SUBTOTAL |
3.75% |
Prerefunded/ETM |
3.37% |
Asset-Backed |
|
Housing - Multi-Family |
2.34% |
SUBTOTAL |
2.34% |
Cash Equivalents |
|
Investment Companies |
0.38% |
SUBTOTAL |
0.38% |
Total |
100.00% |
State Breakdown |
|
Portfolio % |
|
Texas |
18.42% |
New York |
15.01% |
California |
13.45% |
Florida |
5.99% |
Washington |
5.90% |
Illinois |
5.48% |
Michigan |
5.06% |
Colorado |
3.78% |
Connecticut |
2.80% |
Louisiana |
2.60% |
South Carolina |
2.32% |
Massachusetts |
1.79% |
Ohio |
1.78% |
New Jersey |
1.64% |
Oregon |
1.58% |
Hawaii |
1.43% |
Pennsylvania |
1.41% |
Alabama |
1.22% |
Puerto Rico |
1.09% |
Wisconsin |
0.88% |
Rhode Island |
0.87% |
Arizona |
0.86% |
Kentucky |
0.81% |
Alaska |
0.67% |
North Carolina |
0.62% |
Mississippi |
0.60% |
Tennessee |
0.38% |
Missouri |
0.33% |
Indiana |
0.33% |
Georgia |
0.22% |
Minnesota |
0.18% |
New Hampshire |
0.12% |
Other |
0.38% |
Total Investments |
100.00% |
Credit Quality Breakdown |
|
Portfolio % |
|
AAA |
21.13% |
AA |
48.88% |
A |
15.98% |
BBB |
6.32% |
BB |
0.28% |
B |
0.46% |
Not Rated |
3.20% |
Pre-refunded Bonds |
3.37% |
Short Term Investments |
0.38% |
Total Investments |
100.00% |
Bonds By Maturity |
|
Portfolio % |
|
Less than 1 year |
2.22% |
1 to 5 years |
2.29% |
5 to 10 years |
14.30% |
10 to 20 years |
73.68% |
20 to 30 years |
7.51% |
More than 30 years |
0.00% |
Other |
0.00% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percentage: |
8.42% |
Average Coupon: |
5.60% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
0.30% |
Preferred Stock: |
38.05% |
Tender Option Bonds: |
6.72% |
Term Asset-Backed Loans Facility (TALF): |
0.00% |
Total Fund Leverage: |
45.07%* |
Average Effective Maturity: |
6.28 Years |
Effective Duration: |
5.64 Years |
Total Net Assets: |
$636.58 Million** |
Common Stock Net Asset Value: |
$13.72 |
Number of Holdings: |
176 |
Portfolio Turnover: |
28% |
* The total percentage of leverage constitutes 6.72% through the use of tender option bonds, 38.05% in issued and outstanding preferred stock and 0.30% 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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