AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Dec 24, 2015, 13:06 ET from AllianceBernstein National Municipal Income Fund, Inc.

NEW YORK, Dec. 24, 2015 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released  its monthly portfolio update as of November 30, 2015.

 



AllianceBernstein National Municipal Income Fund, Inc.






Top 10 Fixed-Income Holdings

Portfolio %

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

3.05%

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

2.59%

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

2.23%

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

2.12%

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

1.65%

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

1.44%

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

1.41%

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

1.24%

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

1.22%

10) City of Orlando FL Series 2014A 5.00%, 11/01/44

1.21%





Sector/Industry Breakdown

Portfolio %

Revenue


Health Care - Not-for-Profit

9.76%

Toll Roads/Transit

8.95%

Higher Education - Public

6.92%

Airport

6.47%

Water & Sewer

5.89%

Electric Utility

3.90%

Revenue - Miscellaneous

3.69%

Industrial Development - Utility

0.95%

Port

0.77%

Prepay Energy

0.68%

Senior Living

0.41%

Primary/Secondary Ed. - Public

0.34%

Higher Education - Private

0.32%

SUBTOTAL

49.05%

Tax Supported


Special Tax

17.91%

Local G.O.

7.71%

State G.O.

7.20%

Tax-Supported State Lease

2.52%

Tax-Supported Local Lease

2.37%

Assessment District

0.97%

SUBTOTAL

38.68%

Prerefunded/ETM

7.05%

Note/VRDBs


Money Market

3.05%

SUBTOTAL

3.05%

Insured/Guaranteed


Guaranteed

0.90%

Insured

0.69%

SUBTOTAL

1.59%

Cash Equivalents


Investment Companies

0.58%

SUBTOTAL

0.58%

Total

100.00%



State Breakdown

Portfolio %

New York

16.22%

California

15.48%

Texas

12.84%

Connecticut

5.81%

Florida

5.64%

Pennsylvania

4.89%

Michigan

4.83%

Illinois

4.48%

New Jersey

4.06%

Colorado

3.36%

Massachusetts

2.53%

Louisiana

1.83%

Hawaii

1.68%

Washington

1.58%

Tennessee

1.48%

North Carolina

1.36%

Kentucky

1.22%

Maryland

1.01%

Ohio

1.01%

South Carolina

1.00%

Alabama

0.91%

Oregon

0.84%

District of Columbia

0.82%

Indiana

0.77%

Georgia

0.76%

Arizona

0.68%

Mississippi

0.56%

Minnesota

0.43%

Arkansas

0.31%

Missouri

0.30%

Alaska

0.28%

Oklahoma

0.25%

Wisconsin

0.20%

Other

0.58%

Total Investments

100.00%



Credit Quality Breakdown

Portfolio %

AAA

14.98%

AA

48.73%

A

17.96%

BBB

9.26%

B

0.24%

Not Rated

1.20%

Pre-refunded Bonds

7.05%

Short Term Investments

0.58%

Total Investments

100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

0.58%

1 to 5 years

0.75%

5 to 10 years

12.47%

10 to 20 years

67.68%

20 to 30 years

18.52%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

7.78%

Average Coupon:

5.54%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

2.39%

Preferred Stock:

14.10%

Tender Option Bonds:

6.58%

VMTP Shares:

21.60%

Total Fund Leverage:

44.67%*

Average Effective Maturity:

6.44 Years

Effective Duration:

5.70 Years

Total Net Assets:

$523.05 Million**

Common Stock Net Asset Value:

$14.99

Number of Holdings:

178

Portfolio Turnover:

26%



* The total percentage of leverage constitutes 6.58% through the use


of tender option bonds, 14.10% in issued and outstanding APS,


 21.60% in issued and outstanding VMTPs and 2.39% 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 preferred stock 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, Inc.