AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Sept. 24, 2013 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of August 31, 2013.
| AllianceBernstein National Municipal Income Fund, Inc. |
|
| Top 10 Fixed-Income Holdings |
|
| Portfolio % |
|
| 1) Texas Trnsp Comm 5.00%, 4/01/23 |
3.48% |
| 2) Wayne State Univ MI Series 2009A 5.00%, |
2.60% |
| 11/15/29 |
|
| 3) Washington Fed Hwy Grant Series 2012F |
2.51% |
| 5.00%, 9/01/24 |
|
| 4) Metro Atlanta Rapid Tran Auth GA Series |
2.14% |
| 2012A 5.00%, 7/01/27 |
|
| 5) Univ of Illinois AGM 5.25%, 10/01/26 |
1.76% |
| 6) Triborough Brdg & Tunl Auth NY Series 2011A |
1.64% |
| 5.00%, 1/01/26 |
|
| 7) Los Angeles CA Dept W&P Pwr Series 2013B |
1.59% |
| 5.00%, 7/01/30 |
|
| 8) Texas GO Series 2002A 5.50%, 8/01/41 |
1.44% |
| 9) New York NY GO Series 2012I 5.00%, 8/01/28 |
1.41% |
| 10) Coast CA CCD GO AGM 5.00%, 8/01/24 |
1.38% |
| Sector/Industry Breakdown |
|
| Portfolio % |
|
| Revenue |
|
| Water & Sewer |
9.32% |
| Revenue - Miscellaneous |
8.51% |
| Toll Roads/Transit |
7.69% |
| Higher Education - Public |
4.83% |
| Airport |
4.73% |
| Electric Utility |
4.63% |
| Health Care - Not-for-Profit |
3.18% |
| Higher Education - Private |
2.03% |
| Industrial Development - Utility |
1.82% |
| Primary/Secondary Ed. - Private |
0.89% |
| Prepay Energy |
0.67% |
| Senior Living |
0.66% |
| Primary/Secondary Ed. - Public |
0.41% |
| SUBTOTAL |
49.37% |
| Tax Supported |
|
| Special Tax |
14.41% |
| Local G.O. |
11.38% |
| State G.O. |
5.83% |
| Assessment District |
2.70% |
| Tax-Supported Local Lease |
2.01% |
| State Lease |
1.76% |
| Tax-Supported State Lease |
1.43% |
| SUBTOTAL |
39.52% |
| Insured/Guaranteed |
|
| Insured |
2.69% |
| Guaranteed |
1.51% |
| SUBTOTAL |
4.20% |
| Prerefunded/ETM |
3.57% |
| Asset-Backed |
|
| Housing - Multi-Family |
1.78% |
| Housing - Single Family |
0.60% |
| SUBTOTAL |
2.38% |
| Cash Equivalents |
|
| Investment Companies |
0.96% |
| SUBTOTAL |
0.96% |
| Total |
100.00% |
| State Breakdown |
|
| Portfolio % |
|
| Texas |
18.93% |
| California |
14.91% |
| New York |
13.24% |
| Florida |
6.81% |
| Illinois |
5.50% |
| Michigan |
5.09% |
| Washington |
4.83% |
| Colorado |
3.81% |
| Louisiana |
3.23% |
| Georgia |
2.36% |
| South Carolina |
2.33% |
| Ohio |
1.79% |
| New Jersey |
1.76% |
| Oregon |
1.58% |
| Hawaii |
1.44% |
| Pennsylvania |
1.42% |
| Alabama |
1.22% |
| Puerto Rico |
1.18% |
| Wisconsin |
0.93% |
| Rhode Island |
0.89% |
| Virginia |
0.88% |
| Arizona |
0.87% |
| Massachusetts |
0.74% |
| Alaska |
0.69% |
| North Carolina |
0.63% |
| Mississippi |
0.61% |
| Tennessee |
0.39% |
| Indiana |
0.34% |
| Missouri |
0.33% |
| Minnesota |
0.18% |
| New Hampshire |
0.13% |
| Other |
0.96% |
| Total Investments |
100.00% |
| Credit Quality Breakdown |
|
| Portfolio % |
|
| AAA |
21.20% |
| AA |
47.80% |
| A |
16.12% |
| BBB |
6.37% |
| BB |
0.28% |
| B |
0.46% |
| Not Rated |
3.24% |
| Pre-refunded Bonds |
3.57% |
| Short Term Investments |
0.96% |
| Total Investments |
100.00% |
| Bonds By Maturity |
|
| Portfolio % |
|
| Less than 1 year |
2.49% |
| 1 to 5 years |
2.82% |
| 5 to 10 years |
14.93% |
| 10 to 20 years |
72.88% |
| 20 to 30 years |
6.88% |
| More than 30 years |
0.00% |
| Other |
0.00% |
| Total Investments |
100.00% |
| Portfolio Statistics: |
|
| AMT Percentage: |
8.34% |
| Average Coupon: |
5.43% |
| Percentage of Leverage: |
|
| Bank Borrowing: |
0.00% |
| Investment Operations: |
0.00% |
| Preferred Stock: |
38.84% |
| Tender Option Bonds: |
6.86% |
| Term Asset-Backed Loans Facility (TALF): |
0.00% |
| Total Fund Leverage: |
45.70%* |
| Average Effective Maturity: |
6.89 Years |
| Effective Duration: |
5.90 Years |
| Total Net Assets: |
$623.59 Million** |
| Common Stock Net Asset Value: |
$13.27 |
| Number of Holdings: |
178 |
| Portfolio Turnover: |
28% |
* The total percentage of leverage constitutes 6.86% through the use of tender option bonds, 38.84% 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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