AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Wed Jan 25, 2012 4:08pm EST

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AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

PR Newswire

NEW YORK, Jan. 25, 2012 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.(NYSE: AFB) (the "Fund") today released its monthly portfolio update as of December 31, 2011.

AllianceBernstein National Municipal Income Fund, Inc.

 

Top 10 Fixed-Income Holdings

 

 

Portfolio %

1) Texas Trnsp Comm   Series 07  5.00%,  4/01/23         

3.37%

2) Wayne State Univ MI   Series 2009  5.00%,        

2.51%

11/15/29

 

3) Chicago IL O'Hare Intl Arpt (O'hare Intl Arpt)     

2.14%

NPFGC Series A  5.375%,  1/01/32

 

4) Wisconsin Hlth & Ed Fac Auth (Ministry Health      

1.95%

Care, Inc.) NPFGC Series 02A  5.25%,  2/15/32

 

5) Bexar Cnty TX HFC MFHR (Doral Club & Sutton         

1.71%

House Apts) NPFGC Series 01A  5.55%,  10/01/36

 

6) Triborough Brdg & Tunl Auth NY     5.00%,         

1.67%

1/01/26

 

7) New York NY Trnsl Fin Auth   Series 2011B         

1.65%

5.00%,  2/01/26

 

8) Univ of Illinois     AGM Series 07A     5.25%,       

1.64%

10/01/26

 

9) Indianapolis IN Loc Bond Bank     NPFGC Series 2A     

1.46%

5.25%,  7/01/33 (Prerefunded/ETM)

 

10) Twenty Fifth Ave Pptys WA (Univ of WA Dorm          

1.39%

25th Ave) NPFGC Series 02  5.25%,  6/01/33

 

 

 

Sector/Industry Breakdown

 

 

Portfolio %

Revenue

 

    Health Care - Not-for-Profit                  

7.89%

    Airport                                          

7.87%

    Water & Sewer                                  

6.47%

    Higher Education - Public                     

4.58%

    Revenue - Miscellaneous                      

3.82%

    Industrial Development - Utility                

2.49%

    Toll Roads/Transit                                

1.94%

    Higher Education - Private                     

1.74%

    Industrial Development - Industry             

1.64%

    Industrial Development - Airline                

1.35%

    Electric Utility                              

1.13%

    Primary/Secondary Ed. - Private           

0.84%

    Health Care - Municipal                     

0.79%

    Senior Living                                 

0.79%

    Prepay Energy                              

0.60%

    Primary/Secondary Ed. - Public      

0.47%

SUBTOTAL                                      

44.41%

Tax Supported

 

    Special Tax                           

12.36%

    Local G.O.                                      

5.84%

    State G.O.                                     

4.84%

    Assessment District                              

4.66%

    Tax-Supported Local Lease                   

3.35%

    Tax-Supported State Lease                   

2.36%

    State Lease                                      

1.64%

SUBTOTAL                                    

35.05%

Prerefunded/ETM                                 

10.56%

Asset-Backed

 

    Housing - Multi-Family                          

3.61%

    Housing - Single Family                   

1.27%

    Student Loan                                

1.10%

SUBTOTAL                                         

5.98%

Insured/Guaranteed

 

    Insured                                         

2.52%

    Guaranteed                                  

1.48%

SUBTOTAL                                  

4.00%

Total                                           

100.00%

 

 

State Breakdown

 

 

Portfolio %

Texas                                    

20.48%

California                                    

11.72%

New York                                       

9.33%

Illinois                                          

7.58%

Florida                                           

6.39%

Michigan                                        

4.26%

Washington                                      

4.13%

Alabama                                          

3.42%

Wisconsin                                        

3.11%

Colorado                                          

2.71%

Louisiana                                          

2.58%

Indiana                                             

1.90%

Nevada                                             

1.75%

Pennsylvania                                    

1.70%

Oregon                                              

1.52%

Alaska                                                 

1.48%

Tennessee                                         

1.46%

Puerto Rico                                       

1.40%

Hawaii                                              

1.39%

South Carolina                                

1.35%

Virginia                                           

1.22%

Massachusetts                                     

1.10%

Arizona                                             

1.02%

Ohio                                                 

0.93%

Rhode Island                                      

0.84%

New Jersey                                         

0.80%

New Hampshire                                     

0.73%

North Carolina                                       

0.61%

Mississippi                                         

0.57%

District of Columbia                             

0.51%

Missouri                                            

0.48%

North Dakota                                      

0.38%

Georgia                                              

0.36%

Utah                                               

0.21%

Arkansas                                            

0.18%

Kansas                                             

0.18%

Minnesota                                         

0.17%

Iowa                                                

0.05%

Total Investments                               

100.00%

 

 

Credit Quality Breakdown

 

 

Portfolio %

    AAA                              

21.10%

    AA                                

27.09%

    A                                   

23.29%

    BBB                              

13.50%

    B                                   

0.41%

    Not Rated                       

4.05%

    Pre-refunded Bonds              

10.56%

    Total Investments                 

100.00%

 

 

Portfolio Statistics:

 

    AMT Percentage:                  

18.72%

    Average Coupon:                       

5.67

    Percentage of Leverage:

 

        Bank Borrowing:                       

0.00%

        Investment Operations:                

1.13%

        Preferred Stock:                         

36.69%

        Tender Option Bonds:                

6.48%

        Term Asset-Backed Loans Facility (TALF):     

0.00%

        Total Fund Leverage:                      

         44.30%*

    Average Maturity:                          

        4.77 Years

    Effective Duration:                      

          4.73 Years

    Total Net Assets:                     

      $660.14 Million**

    Common Stock Net Asset Value:          

$14.56

    Number of Holdings:                           

204

 

* The total percentage of leverage constitutes 6.48% through the use of tender option bonds, 36.69% in issued and outstanding preferred
stock and 1.13% 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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