AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, March 24, 2014 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of February 28, 2014.
AllianceBernstein National Municipal Income Fund, Inc. |
|
Top 10 Fixed-Income Holdings |
Portfolio % |
1) Texas Trnsp Comm 5.00%, 4/01/23 |
3.41% |
2) Wayne State Univ MI Series 2009A 5.00%, 11/15/29 |
2.57% |
3) Connecticut Spl Tax Obl (Connecticut Trnsp Prog Spl Tax) 5.00%, 1/01/29 |
2.29% |
4) Massachusetts Sch Bldg Auth (Massachusetts Sch Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.11% |
5) Univ of Illinois AGM 5.25%, 10/01/26 |
1.76% |
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 5.00%, 7/01/30 |
1.65% |
8) Salt River Proj Agric Impt & Pwr Dist AZ Series 2012A 5.00%, 12/01/29 |
1.56% |
9) New York NY GO Series 2012I 5.00%, 8/01/28 |
1.44% |
10) Coast CA CCD GO AGM 5.00%, 8/01/24 |
1.32% |
Sector/Industry Breakdown |
Portfolio % |
Revenue |
|
Toll Roads/Transit |
9.22% |
Water & Sewer |
8.21% |
Higher Education - Public |
6.69% |
Electric Utility |
6.03% |
Airport |
5.14% |
Revenue - Miscellaneous |
4.21% |
Health Care - Not-for-Profit |
3.10% |
Higher Education - Private |
2.05% |
Industrial Development - Utility |
1.10% |
Primary/Secondary Ed. - Private |
0.86% |
Prepay Energy |
0.68% |
Senior Living |
0.66% |
Primary/Secondary Ed. - Public |
0.42% |
SUBTOTAL |
48.37% |
Tax Supported |
|
Special Tax |
19.60% |
Local G.O. |
8.17% |
State G.O. |
6.25% |
Tax-Supported State Lease |
2.33% |
Assessment District |
2.13% |
Tax-Supported Local Lease |
1.82% |
State Lease |
1.76% |
SUBTOTAL |
42.06% |
Insured/Guaranteed |
|
Insured |
2.61% |
Guaranteed |
1.49% |
SUBTOTAL |
4.10% |
Prerefunded/ETM |
3.54% |
Asset-Backed |
|
Housing - Multi-Family |
1.87% |
SUBTOTAL |
1.87% |
Cash Equivalents |
|
Investment Companies |
0.06% |
SUBTOTAL |
0.06% |
Total |
100.00% |
State Breakdown |
Portfolio % |
New York |
16.72% |
California |
15.83% |
Texas |
14.16% |
Illinois |
5.51% |
Connecticut |
5.13% |
Michigan |
5.09% |
Massachusetts |
3.94% |
Colorado |
3.76% |
Florida |
3.07% |
New Jersey |
2.70% |
Louisiana |
2.57% |
Arizona |
2.43% |
Washington |
2.34% |
South Carolina |
2.30% |
Oregon |
1.57% |
Pennsylvania |
1.43% |
Alabama |
1.21% |
Puerto Rico |
1.08% |
Virginia |
0.89% |
Rhode Island |
0.86% |
Wisconsin |
0.84% |
Kentucky |
0.83% |
District of Columbia |
0.83% |
Hawaii |
0.77% |
Ohio |
0.67% |
Alaska |
0.66% |
North Carolina |
0.61% |
Mississippi |
0.59% |
Tennessee |
0.38% |
Missouri |
0.33% |
Indiana |
0.32% |
Georgia |
0.22% |
Minnesota |
0.18% |
New Hampshire |
0.12% |
Other |
0.06% |
Total Investments |
100.00% |
Credit Quality Breakdown |
Portfolio % |
AAA |
20.23% |
AA |
49.05% |
A |
17.76% |
BBB |
5.29% |
BB |
1.36% |
Not Rated |
2.71% |
Pre-refunded Bonds |
3.54% |
Short Term Investments |
0.06% |
Total Investments |
100.00% |
Bonds By Maturity |
Portfolio % |
Less than 1 year |
1.85% |
1 to 5 years |
2.49% |
5 to 10 years |
14.63% |
10 to 20 years |
75.51% |
20 to 30 years |
5.33% |
More than 30 years |
0.19% |
Other |
0.00% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percentage: |
7.22% |
Average Coupon: |
5.70% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
0.00% |
Preferred Stock: |
37.50% |
Tender Option Bonds: |
6.62% |
Term Asset-Backed Loans Facility (TALF): |
0.00% |
Total Fund Leverage: |
44.12%* |
Average Effective Maturity: |
6.20 Years |
Effective Duration: |
5.31 Years |
Total Net Assets: |
$645.86 Million** |
Common Stock Net Asset Value: |
$14.04 |
Number of Holdings: |
174 |
Portfolio Turnover: |
41% |
* The total percentage of leverage constitutes 6.62% through the use |
|
of tender option bonds, 37.50% in issued and outstanding preferred |
|
stock and 0.00% 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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