AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Jan. 27, 2014 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of December 31, 2013.
AllianceBernstein National Municipal Income Fund, Inc. |
|
Top 10 Fixed-Income Holdings |
|
Portfolio % |
|
1) Texas Trnsp Comm 5.00%, 4/01/23 |
3.46% |
2) Wayne State Univ MI Series 2009A 5.00%, 11/15/29 |
2.58% |
3) Connecticut Spl Tax Obl (Connecticut Trnsp Prog Spl Tax) 5.00%, 1/01/29 |
2.28% |
4) Massachusetts Sch Bldg Auth (Massachusetts Sch Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.09% |
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 |
1.66% |
7) Los Angeles CA Dept W&P Pwr Series 2013B 5.00%, 7/01/30 |
1.63% |
8) Texas GO Series 2002A 5.50%, 8/01/41 |
1.43% |
9) New York NY GO Series 2012I 5.00%, 8/01/28 |
1.43% |
10) Coast CA CCD GO AGM 5.00%, 8/01/24 |
1.36% |
Sector/Industry Breakdown |
|
Portfolio % |
|
Revenue |
|
Toll Roads/Transit |
9.10% |
Water & Sewer |
8.19% |
Higher Education - Public |
5.95% |
Airport |
5.15% |
Electric Utility |
4.43% |
Revenue - Miscellaneous |
4.07% |
Health Care - Not-for-Profit |
3.17% |
Higher Education - Private |
2.04% |
Industrial Development - Utility |
1.13% |
Primary/Secondary Ed. - Private |
0.89% |
Prepay Energy |
0.68% |
Senior Living |
0.66% |
Primary/Secondary Ed. - Public |
0.42% |
SUBTOTAL |
45.88% |
Tax Supported |
|
Special Tax |
19.70% |
Local G.O. |
8.42% |
State G.O. |
7.65% |
Tax-Supported State Lease |
2.33% |
Assessment District |
2.17% |
Tax-Supported Local Lease |
1.85% |
State Lease |
1.76% |
SUBTOTAL |
43.88% |
Insured/Guaranteed |
|
Insured |
2.68% |
Guaranteed |
1.51% |
SUBTOTAL |
4.19% |
Prerefunded/ETM |
3.49% |
Asset-Backed |
|
Housing - Multi-Family |
1.92% |
SUBTOTAL |
1.92% |
Cash Equivalents |
|
Investment Companies |
0.64% |
SUBTOTAL |
0.64% |
Total |
100.00% |
State Breakdown |
|
Portfolio % |
|
New York |
16.83% |
Texas |
15.72% |
California |
14.91% |
Illinois |
5.52% |
Connecticut |
5.08% |
Michigan |
5.08% |
Massachusetts |
3.90% |
Colorado |
3.81% |
Florida |
3.13% |
New Jersey |
2.70% |
Louisiana |
2.61% |
Washington |
2.35% |
South Carolina |
2.33% |
Oregon |
1.59% |
Pennsylvania |
1.43% |
Alabama |
1.23% |
Puerto Rico |
1.04% |
Wisconsin |
0.90% |
Rhode Island |
0.89% |
Virginia |
0.88% |
Arizona |
0.87% |
District of Columbia |
0.82% |
Kentucky |
0.82% |
Hawaii |
0.77% |
Ohio |
0.68% |
Alaska |
0.68% |
North Carolina |
0.62% |
Mississippi |
0.60% |
Tennessee |
0.38% |
Missouri |
0.33% |
Indiana |
0.33% |
Georgia |
0.22% |
Minnesota |
0.18% |
New Hampshire |
0.13% |
Other |
0.64% |
Total Investments |
100.00% |
Credit Quality Breakdown |
|
Portfolio % |
|
AAA |
21.88% |
AA |
46.89% |
A |
17.83% |
BBB |
6.24% |
BB |
0.29% |
Not Rated |
2.74% |
Pre-refunded Bonds |
3.49% |
Short Term Investments |
0.64% |
Total Investments |
100.00% |
Bonds By Maturity |
|
Portfolio % |
|
Less than 1 year |
2.49% |
1 to 5 years |
2.40% |
5 to 10 years |
14.83% |
10 to 20 years |
72.74% |
20 to 30 years |
7.38% |
More than 30 years |
0.16% |
Other |
0.00% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percentage: |
8.32% |
Average Coupon: |
5.46% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
0.00% |
Preferred Stock: |
38.53% |
Tender Option Bonds: |
6.80% |
Term Asset-Backed Loans Facility (TALF): |
0.00% |
Total Fund Leverage: |
45.33%* |
Average Effective Maturity: |
6.19 Years |
Effective Duration: |
5.60 Years |
Total Net Assets: |
$628.59 Million** |
Common Stock Net Asset Value: |
$13.44 |
Number of Holdings: |
173 |
Portfolio Turnover: |
41% |
* The total percentage of leverage constitutes 6.80% through the use of tender option bonds, 38.53% 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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