AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Oct 29, 2013, 16:06 ET from AllianceBernstein National Municipal Income Fund, Inc.

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.