ALLIANCE CALIFORNIA MUNICIPAL INCMFNDINC NEW YORK, Oct. 24, 2016 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of September 30, 2016.
Alliance California Municipal Income Fund, Inc.
Top 10 Fixed-Income Holdings Portfolio %
1) University of California Series 2012G 5.00%, 5/15/31 4.46%
2) Los Angeles Department of Water & Power WTR Series 2013B 5.00%, 7/01/32 3.52%
3) Los Angeles County Metropolitan Transportation Authority (Los Angeles County Metropolitan Transportation Authority Sales Tax) Series 2009 5.00%, 7/01/25 3.45%
4) Los Angeles Community Redevelopment Agency (Los Angeles Community Redevelopment Agency Sales Tax) AMBAC Series 2002A 5.375%, 12/01/26 3.09%
5) San Diego Unified School District/CA Series 2013C 5.00%, 7/01/32 2.89%
6) San Diego Public Facilities Financing Authority 5.00%, 5/15/36 2.87%
7) Port of Los Angeles Series 2009C 5.00%, 8/01/26 2.86%
8) Bay Area Toll Authority Series 2013S 5.00%, 4/01/33 2.80%
9) Metropolitan Transportation Authority Series 2014C 5.00%, 11/15/32 2.69%
10) City of San Francisco CA Public Utilities Commission Wastewater Revenue Series 2013B 5.00%, 10/01/32 2.62%
Sector/Industry Breakdown Portfolio %
Revenue
Revenue - Miscellaneous 9.69%
Water & Sewer 9.35%
Toll Roads/Transit 7.58%
Electric Utility 4.93%
Higher Education - Public 4.46%
Health Care - Not-for-Profit 3.13%
Port 2.86%
Primary/Secondary Ed. - Public 2.59%
Higher Education - Private 1.65%
Senior Living 1.65%
Airport 1.64%
Primary/Secondary Ed. - Private 1.43%
SUBTOTAL 50.96%
Tax Supported
Special Tax 14.42%
Local G.O. 13.60%
Tax-Supported Local Lease 8.11%
Assessment District 3.11%
State G.O. 1.14%
SUBTOTAL 40.38%
Prerefunded/ETM 5.42%
Asset-Backed
Housing - Multi-Family 2.54%
SUBTOTAL 2.54%
Cash Equivalents
Investment Companies 0.70%
SUBTOTAL 0.70%
Total 100.00%
State Breakdown Portfolio %
California 91.02%
New York 2.69%
Florida 2.01%
Guam 1.04%
Nevada 0.85%
Minnesota 0.61%
Pennsylvania 0.54%
Missouri 0.53%
Ohio 0.01%
Other 0.70%
Total Investments 100.00%
Credit Quality Breakdown Portfolio %
AAA 12.24%
AA 57.61%
A 10.51%
BBB 10.45%
B 1.27%
Not Rated 1.80%
Pre-refunded Bonds 5.42%
Short Term Investments 0.70%
Total Investments 100.00%
Bonds By Maturity Portfolio %
Less than 1 year 0.70%
1 to 5 years 2.10%
5 to 10 years 6.96%
10 to 20 years 72.29%
20 to 30 years 17.95%
More than 30 years 0.00%
Other 0.00%
Total Investments 100.00%
Portfolio Statistics:
AMT Percentage: 8.57%
Average Coupon: 5.24%
Percentage of Leverage:
Bank Borrowing: 0.00%
Investment Operations: 1.21%
Auction Preferred Shares (APS): 14.56%
Tender Option Bonds: 3.90%
Variable Rate MuniFund Term Preferred Shares (VMTPs): 19.56%
Total Fund Leverage: 39.23%*
Average Effective Maturity: 6.53 Years
Effective Duration: 5.13 Years
Total Net Assets: $167.69 Million**
Common Stock Net Asset Value: $16.11
Number of Holdings: 75
Portfolio Turnover: 18%
* The total percentage of leverage constitutes 3.90% through the use of tender option bonds, 14.56% in issued and outstanding APS, 19.56% in issued and outstanding VMTPs and 1.21% 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 $29,875,000 of APS at liquidation value.
The Fund also had outstanding $40,125,000 of VMTPs at liquidation value, which is not included in Total Net Assets because it is treated as a liability for financial reporting purposes.
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.
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SOURCE Alliance California Municipal Income Fund, Inc.
