AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
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.
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