AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
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.
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