NEW YORK, Sept. 24, 2018 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE:AKP) (the "Fund") today released its monthly portfolio update as of August 31,2018.
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Alliance California Municipal Income Fund, Inc.
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Top 10 Fixed-Income Holdings
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Portfolio %
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1) Los Angeles Department of Water Series 2013B 5.00%, 7/01/32
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3.44%
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2) Los Angeles County Metropolitan Transportation Authority (Los Angeles County Metropolitan Transportation Authority Sales Tax) Series 2009 5.00%, 7/01/25
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3.41%
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3) San Diego Public Facilities Financing Authority 5.00%, 5/15/36
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2.87%
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4) San Diego Unified School District/CA Series 2013C 5.00%, 7/01/32
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2.86%
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5) Port of Los Angeles Series 2009C 5.00%, 8/01/26
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2.83%
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6) Bay Area Toll Authority Series 2013S 5.00%, 4/01/33 (Prerefunded/ETM)
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2.82%
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7) City of San Francisco CA Public Utilities Commission Wastewater Revenue Series 2013B 5.00%, 10/01/32
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2.61%
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8) University of California Series 2012G 5.00%, 5/15/31
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2.39%
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9) San Diego County Water Authority Financing Corp. Series 2013 5.00%, 5/01/31
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2.38%
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10) California Statewide Communities Development Authority(Buck Institute for Research on Aging) AGM Series 2014 5.00%, 11/15/44
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2.18%
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Sector/Industry Breakdown
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Portfolio %
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Revenue
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Health Care - Not-for-Profit
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10.20%
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Water & Sewer
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9.58%
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Revenue - Miscellaneous
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8.51%
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Electric Utility
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4.37%
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Primary/Secondary Ed. - Public
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4.16%
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Toll Roads/Transit
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3.79%
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Port
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3.71%
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Airport
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3.01%
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Tobacco Securitization
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2.46%
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Higher Education - Public
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2.39%
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Higher Education - Private
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1.65%
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Senior Living
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1.64%
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Primary/Secondary Ed. - Private
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1.40%
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SUBTOTAL
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56.87%
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Tax Supported
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Local G.O.
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9.94%
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Special Tax
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9.29%
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Tax-Supported Local Lease
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7.97%
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Assessment District
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3.54%
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State G.O.
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1.12%
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SUBTOTAL
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31.86%
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Prerefunded/ETM
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9.98%
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Asset-Backed
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Housing - Multi-Family
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1.28%
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SUBTOTAL
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1.28%
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Cash Equivalents
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Investment Companies
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0.01%
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SUBTOTAL
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0.01%
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Total
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100.00%
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State Breakdown
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Portfolio %
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California
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91.89%
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New York
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1.70%
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Guam
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1.46%
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Florida
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1.44%
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New Jersey
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1.28%
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Minnesota
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0.61%
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Illinois
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0.55%
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Missouri
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0.53%
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Pennsylvania
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0.53%
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Other
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0.01%
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Total Investments
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100.00%
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Credit Quality Breakdown
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Portfolio %
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AAA
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10.31%
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AA
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47.09%
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A
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14.06%
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BBB
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13.77%
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BB
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0.86%
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B
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1.28%
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Not Rated
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2.64%
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Pre-refunded Bonds
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9.98%
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Short-Term Investments
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0.01%
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Total Investments
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100.00%
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Bonds By Maturity
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Portfolio %
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Less than 1 year
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0.01%
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1 to 5 years
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0.00%
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5 to 10 years
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13.27%
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10 to 20 years
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62.06%
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20 to 30 years
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24.66%
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More Than 30 years
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0.00%
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Other
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0.00%
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Total Investments
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100.00%
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Portfolio Statistics:
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AMT Percent:
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3.31%
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Average Coupon:
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5.12%
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Percentage of Leverage:
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Bank Borrowing:
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0.00%
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Investment Operations:
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0.00%
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Auction Preferred Shares (APS):
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15.36%
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Tender Option Bonds:
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4.11%
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Variable Rate MuniFund Term Preferred Shares (VMTPs):
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20.63%
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Total Fund Leverage:
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40.10%*
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Average Effective Maturity:
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5.15 Years
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Effective Duration:
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4.60 Years
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Total Net Assets:
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$156.71 Million**
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Common Stock Net Asset Value:
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$14.83
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Number of Holdings:
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87
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Portfolio Turnover:
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18%
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* The total percentage of leverage constitutes 4.11% through the use of tender option bonds, 15.36% in issued and outstanding APS,20.63% in issued and outstanding VMTPs 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 $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.
