AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, May 20, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of April 30, 2016.
| AllianceBernstein National Municipal Income Fund, Inc. |
|
| Top 10 Fixed-Income Holdings |
Portfolio % |
| 1) Texas Trnsp Comm 5.00%, 4/01/23 |
2.98% |
| 2) Wayne State University Series 2009A 5.00%, 11/15/29 |
2.56% |
| 3) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35 |
2.49% |
| 4) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.29% |
| 5) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.14% |
| 6) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.70% |
| 7) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.46% |
| 8) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.45% |
| 9) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 |
1.27% |
| 10) New York State Dormitory Authority (State of New York Pers Income Tax) Series 2012B 5.00%, 3/15/32 |
1.25% |
| Sector/Industry Breakdown |
Portfolio % |
| Revenue |
|
| Toll Roads/Transit |
10.33% |
| Health Care - Not-for-Profit |
10.05% |
| Airport |
6.32% |
| Higher Education - Public |
5.89% |
| Water & Sewer |
5.67% |
| Electric Utility |
4.01% |
| Revenue - Miscellaneous |
3.69% |
| Industrial Development - Utility |
0.95% |
| Port |
0.80% |
| Prepay Energy |
0.69% |
| Higher Education - Private |
0.66% |
| Senior Living |
0.41% |
| Primary/Secondary Ed. - Public |
0.28% |
| SUBTOTAL |
49.75% |
| Tax Supported |
|
| Special Tax |
19.65% |
| State G.O. |
7.31% |
| Local G.O. |
6.69% |
| Tax-Supported Local Lease |
2.94% |
| Tax-Supported State Lease |
2.55% |
| SUBTOTAL |
39.14% |
| Prerefunded/ETM |
7.18% |
| Note/VRDBs |
|
| Money Market |
2.98% |
| SUBTOTAL |
2.98% |
| Insured/Guaranteed |
|
| Guaranteed |
0.92% |
| SUBTOTAL |
0.92% |
| Cash Equivalents |
|
| Investment Companies |
0.03% |
| SUBTOTAL |
0.03% |
| Total |
100.00% |
| State Breakdown |
Portfolio % |
| New York |
17.69% |
| California |
15.09% |
| Texas |
12.33% |
| Florida |
6.96% |
| Connecticut |
5.94% |
| New Jersey |
5.03% |
| Illinois |
4.91% |
| Pennsylvania |
4.89% |
| Michigan |
4.88% |
| Massachusetts |
2.56% |
| Hawaii |
1.73% |
| Washington |
1.57% |
| North Carolina |
1.39% |
| Colorado |
1.29% |
| Louisiana |
1.29% |
| Tennessee |
1.27% |
| Kentucky |
1.24% |
| Maryland |
1.06% |
| South Carolina |
1.02% |
| Ohio |
0.96% |
| Alabama |
0.90% |
| District of Columbia |
0.84% |
| Oregon |
0.83% |
| Indiana |
0.79% |
| Georgia |
0.78% |
| Arizona |
0.69% |
| Mississippi |
0.56% |
| Minnesota |
0.44% |
| Arkansas |
0.32% |
| Missouri |
0.30% |
| Oklahoma |
0.26% |
| Wisconsin |
0.16% |
| Other |
0.03% |
| Total Investments |
100.00% |
| Credit Quality Breakdown |
Portfolio % |
| AAA |
12.23% |
| AA |
50.97% |
| A |
18.89% |
| BBB |
9.64% |
| B |
0.28% |
| Not Rated |
0.78% |
| Pre-refunded Bonds |
7.18% |
| Short Term Investments |
0.03% |
| Total Investments |
100.00% |
| Bonds By Maturity |
Portfolio % |
| Less than 1 year |
0.03% |
| 1 to 5 years |
0.90% |
| 5 to 10 years |
9.97% |
| 10 to 20 years |
70.03% |
| 20 to 30 years |
19.07% |
| More than 30 years |
0.00% |
| Other |
0.00% |
| Total Investments |
100.00% |
| Portfolio Statistics: |
|
| AMT Percentage: |
9.52% |
| Average Coupon: |
5.39% |
| Percentage of Leverage: |
|
| Bank Borrowing: |
0.00% |
| Investment Operations: |
0.37% |
| Auction Preferred Shares (APS): |
13.80% |
| Tender Option Bonds: |
6.84% |
| Variable Rate MuniFund Term Preferred Shares (VMTPs): |
21.14% |
| Total Fund Leverage: |
42.15%* |
| Average Effective Maturity: |
6.49 Years |
| Effective Duration: |
5.77 Years |
| Total Net Assets: |
$539.56 Million** |
| Common Stock Net Asset Value: |
$15.57 |
| Number of Holdings: |
167 |
| Portfolio Turnover: |
24% |
* The total percentage of leverage constitutes 6.84% through the use of tender option bonds, 13.80% in issued and outstanding APS, 21.14% in issued and outstanding VMTPs and 0.37% 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, Inc.
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