AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

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

NEW YORK, Nov. 25, 2013 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of October 31, 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) Massachusetts Sch Bldg Auth (Massachusetts Sch Sales Tax)  Series 2011B 5.00%, 10/15/32

2.06%

4) Connecticut Spl Tax Obl (Connecticut Trnsp Prog Spl Tax) 5.00%, 1/01/29

1.84%

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

1.74%

6) Triborough Brdg & Tunl Auth NY Series 2011A 5.00%, 1/01/26

1.67%

7) Los Angeles CA Dept W&P Pwr Series 2013B

1.63%

8) New York NY GO Series 2012I 5.00%, 8/01/28

1.43%

9) Washington St COP (Washington St GO)  Series 2012R 5.00%, 7/01/26

1.40%

10) Texas GO Series 2002A 5.50%, 8/01/41

1.40%



Sector/Industry Breakdown



Portfolio %

Revenue


Water & Sewer

8.20%

Toll Roads/Transit

7.72%

Higher Education - Public

5.91%

Revenue - Miscellaneous

5.46%

Airport

4.70%

Electric Utility

4.44%

Health Care - Not-for-Profit

3.12%

Higher Education - Private

2.02%

Industrial Development - Utility

1.11%

Primary/Secondary Ed. - Private

0.87%

Prepay Energy

0.67%

Senior Living

0.65%

Primary/Secondary Ed. - Public

0.41%



SUBTOTAL

45.28%

Tax Supported


Special Tax

19.14%

Local G.O.

8.49%

State G.O.

8.22%

Assessment District

2.44%

Tax-Supported State Lease

2.32%

Tax-Supported Local Lease

1.84%

State Lease

1.74%

SUBTOTAL

44.19%

Insured/Guaranteed


Insured

2.64%

Guaranteed

1.49%

SUBTOTAL

4.13%

Prerefunded/ETM

3.35%

Asset-Backed


Housing - Multi-Family

2.33%

SUBTOTAL

2.33%

Cash Equivalents


Investment Companies

0.72%

SUBTOTAL

0.72%

Total

100.00%



State Breakdown



Portfolio %

Texas

15.86%

New York

14.98%

California

14.73%

Florida

5.92%

Illinois

5.46%

Michigan

5.06%

Connecticut

4.64%

Massachusetts

3.86%

Colorado

3.77%

Washington

3.74%

Louisiana

2.59%

South Carolina

2.31%

New Jersey

1.64%

Oregon

1.57%

Pennsylvania

1.41%

Alabama

1.22%

Puerto Rico

1.05%

Ohio

0.97%

Wisconsin

0.88%

Virginia

0.88%

Rhode Island

0.87%

Arizona

0.86%

Kentucky

0.81%

Hawaii

0.76%

Alaska

0.67%

North Carolina

0.62%

Mississippi

0.59%

Tennessee

0.38%

Missouri

0.33%

Indiana

0.33%

Georgia

0.22%

Minnesota

0.18%

New Hampshire

0.12%

Other

0.72%

Total Investments

100.00%



Credit Quality Breakdown



Portfolio %

AAA

20.87%

AA

49.09%

A

16.67%

BBB

5.57%

BB

0.28%

B

0.46%

Not Rated

2.99%

Pre-refunded Bonds

3.35%

Short Term Investments

0.72%

Total Investments

100.00%



Bonds By Maturity



Portfolio %

Less than 1 year

2.55%

1 to 5 years

2.28%

5 to 10 years

13.99%

10 to 20 years

73.72%

20 to 30 years

7.46%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

8.46%

Average Coupon:

5.57%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.19%

Preferred Stock:

38.03%

Tender Option Bonds:

6.71%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

44.93%*

Average Effective Maturity:

6.21 Years

Effective Duration:

5.63 Years



Total Net Assets:

$637.00 Million**

Common Stock Net Asset Value:

$13.73

Number of Holdings:

172

Portfolio Turnover:

28%

* The total percentage of leverage constitutes 6.71% through the use of tender option bonds, 38.03% in issued and outstanding preferred stock and 0.19% 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.