AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

21 Dec, 2015, 15:18 ET from AllianceBernstein National Municipal Income Fund

NEW YORK, Dec. 21, 2015 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (AFB) (the "Fund") is rereleasing its monthly portfolio update as of October 31, 2015, previously released on November 23, 2015, to revise certain information relating to its leverage levels. The revised information may be found below under the heading "Percentage of Leverage".

AllianceBernstein National Municipal Income Fund, Inc.






Top 10 Fixed-Income Holdings

Portfolio %

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

3.13%

2) Wayne State University Series 2009A 5.00%, 11/15/29

2.66%

3) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29

2.27%

4) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax)  Series 2011B 5.00%, 10/15/32

2.16%

5) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30

1.68%

6) City of New York NY Series 2012I 5.00%, 8/01/28

1.46%

7) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.)  Series 2014 5.00%, 11/15/39

1.42%

8) Port Authority of New York & New Jersey Series 2014186 5.00%, 10/15/44

1.26%

9) New York State Dormitory Authority (State of New York Pers Income Tax)  Series 2012B 5.00%, 3/15/32

1.24%

10) Fort Bend Independent School District Series 2009 5.00%, 2/15/27

1.24%





Sector/Industry Breakdown

Portfolio %

Revenue


Health Care - Not-for-Profit

9.90%

Toll Roads/Transit

7.61%

Higher Education - Public

7.06%

Airport

7.00%

Water & Sewer

5.97%

Electric Utility

3.97%

Revenue - Miscellaneous

3.75%

Higher Education - Private

1.12%

Industrial Development - Utility

1.09%

Port

0.77%

Prepay Energy

0.69%

Senior Living

0.42%

Primary/Secondary Ed. - Public

0.34%

SUBTOTAL

49.69%

Tax Supported


Special Tax

17.81%

Local G.O.

7.86%

State G.O.

6.46%

Tax-Supported State Lease

2.57%

Tax-Supported Local Lease

2.41%

Assessment District

1.22%

SUBTOTAL

38.33%

Prerefunded/ETM

7.23%

Note/VRDBs


Money Market

3.13%

SUBTOTAL

3.13%

Insured/Guaranteed


Guaranteed

0.91%

Insured

0.71%

SUBTOTAL

1.62%

Total

100.00%



State Breakdown

Portfolio %

New York

16.51%

California

15.72%

Texas

13.11%

Florida

5.70%

Connecticut

5.09%

Pennsylvania

4.95%

Michigan

4.94%

New Jersey

4.13%

Illinois

3.78%

Colorado

3.38%

Massachusetts

3.37%

Louisiana

1.88%

Washington

1.63%

Tennessee

1.50%

North Carolina

1.38%

Hawaii

1.31%

Kentucky

1.24%

Ohio

1.09%

Maryland

1.03%

South Carolina

1.01%

Alabama

0.93%

Oregon

0.86%

District of Columbia

0.84%

Indiana

0.78%

Georgia

0.76%

Arizona

0.69%

Mississippi

0.57%

Minnesota

0.44%

Arkansas

0.31%

Missouri

0.31%

Alaska

0.29%

Oklahoma

0.26%

Wisconsin

0.21%

Total Investments

100.00%



Credit Quality Breakdown

Portfolio %

AAA

15.29%

AA

47.31%

A

19.04%

BBB

9.42%

B

0.24%

Not Rated

1.47%

Pre-refunded Bonds

7.23%

Total Investments

100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

0.00%

1 to 5 years

0.75%

5 to 10 years

12.81%

10 to 20 years

67.76%

20 to 30 years

17.83%

More than 30 years

0.85%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

7.98%

Average Coupon:

5.40%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.83%

Auction Preferred Shares (APS):

14.21%

Tender Option Bonds:

7.79%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

21.77%

Total Fund Leverage:

44.60%*

Average Effective Maturity:

6.32 Years

Effective Duration:

5.61 Years

Total Net Assets:

$519.65 Million**

Common Stock Net Asset Value:

$14.87

Number of Holdings:

175

Portfolio Turnover:

26%



* The total percentage of leverage constitutes 7.79% through the use


of tender option bonds, 14.21% in issued and outstanding APS,


 21.77% in issued and outstanding VMTPs and 0.83% 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 $92,125,000 of APS at liquidation value.


The Fund also had outstanding $141,100,000 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.


 

SOURCE AllianceBernstein National Municipal Income Fund



RELATED LINKS

http://www.alliancebernstein.com