AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, March 28, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of February 29, 2016.
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 2.63% 3) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 2.31% 4) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 2.19% 5) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 1.70% 6) City of New York NY Series 2012I 5.00%, 8/01/28 1.48% 7) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 1.44% 8) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 1.27% 9) New York State Dormitory Authority (State of New York Pers Income Tax) Series 2012B 5.00%, 3/15/32 1.27% 10) Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP) Series 2015 5.00%, 12/31/38 1.26% Sector/Industry Breakdown Portfolio % Revenue Toll Roads/Transit 10.40% Health Care - Not-for-Profit 10.07% Higher Education - Public 7.06% Airport 6.65% Water & Sewer 5.75% Electric Utility 4.01% Revenue - Miscellaneous 3.74% Industrial Development - Utility 0.96% Port 0.84% Prepay Energy 0.70% Senior Living 0.42% Higher Education - Private 0.32% Primary/Secondary Ed. - Public 0.23% SUBTOTAL 51.15% Tax Supported Special Tax 18.43% State G.O. 7.37% Local G.O. 6.79% Tax-Supported Local Lease 3.27% Tax-Supported State Lease 2.58% SUBTOTAL 38.44% Prerefunded/ETM 6.42% Note/VRDBs Money Market 3.05% SUBTOTAL 3.05% Insured/Guaranteed Guaranteed 0.92% SUBTOTAL 0.92% Cash Equivalents Investment Companies 0.02% SUBTOTAL 0.02% Total 100.00% State Breakdown Portfolio % New York 16.47% California 15.20% Texas 12.57% Florida 6.64% Connecticut 6.02% New Jersey 5.04% Illinois 4.93% Pennsylvania 4.93% Michigan 4.91% Massachusetts 2.61% Hawaii 1.74% Washington 1.61% Tennessee 1.55% Colorado 1.47% North Carolina 1.40% Louisiana 1.32% Kentucky 1.25% Maryland 1.06% Ohio 1.02% South Carolina 1.02% Alabama 0.92% Oregon 0.85% District of Columbia 0.84% Indiana 0.79% Georgia 0.78% Arizona 0.70% Mississippi 0.57% Minnesota 0.44% Arkansas 0.32% Missouri 0.31% Alaska 0.28% Oklahoma 0.26% Wisconsin 0.16% Other 0.02% Total Investments 100.00% Credit Quality Breakdown Portfolio % AAA 14.54% AA 49.60% A 18.62% BBB 9.73% B 0.23% Not Rated 0.84% Pre-refunded Bonds 6.42% Short Term Investments 0.02% Total Investments 100.00% Bonds By Maturity Portfolio % Less than 1 year 0.02% 1 to 5 years 0.92% 5 to 10 years 10.55% 10 to 20 years 69.38% 20 to 30 years 19.13% More than 30 years 0.00% Other 0.00% Total Investments 100.00% Portfolio Statistics: AMT Percentage: 9.47% Average Coupon: 5.39% Percentage of Leverage: Bank Borrowing: 0.00% Investment Operations: 0.00% Auction Preferred Shares (APS): 13.82% Tender Option Bonds: 5.97% Variable Rate MuniFund Term Preferred Shares (VMTPs): 21.17% Total Fund Leverage: 40.96%* Average Effective Maturity: 6.39 Years Effective Duration: 5.64 Years Total Net Assets: $533.18 Million** Common Stock Net Asset Value: $15.34 Number of Holdings: 169 Portfolio Turnover: 24% * The total percentage of leverage constitutes 5.97% through the use of tender option bonds, 13.82% in issued and outstanding APS, 21.17% 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 $92,125,000 of APS at liquidation value. The Fund also had outstanding $141,100,000 of VMTPs at liquidation 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.
value, which is not included in Total Net Assets because it is treated as a liability for
financial reporting purposes.
SOURCE AllianceBernstein National Municipal Income Fund
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