AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Aug. 26, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.(NYSE: AFB) (the "Fund") today released its monthly portfolio update as of July 31, 2016.
| AllianceBernstein National Municipal Income Fund, Inc. |
|
| Top 10 Fixed-Income Holdings |
Portfolio % |
| 1) Texas Transportation Commission State Highway Fund 5.00%, 4/01/23 |
2.91% |
| 2) Wayne State University Series 2009A 5.00%, 11/15/29 |
2.54% |
| 3) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) |
2.50% |
| 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) |
2.12% |
| 6) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.68% |
| 7) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) |
1.45% |
| 8) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.45% |
| 9) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 |
1.30% |
| 10) Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP) |
1.29% |
| Sector/Industry Breakdown |
Portfolio % |
| Revenue |
|
| Toll Roads/Transit |
10.95% |
| Health Care - Not-for-Profit |
9.63% |
| Airport |
6.50% |
| Higher Education - Public |
5.87% |
| Water & Sewer |
5.62% |
| Revenue - Miscellaneous |
4.01% |
| Electric Utility |
3.98% |
| Industrial Development - Utility |
0.91% |
| Port |
0.81% |
| Prepay Energy |
0.68% |
| Higher Education - Private |
0.57% |
| Primary/Secondary Ed. - Public |
0.56% |
| Senior Living |
0.40% |
| SUBTOTAL |
50.49% |
| Tax Supported |
|
| Special Tax |
19.66% |
| State G.O. |
7.24% |
| Local G.O. |
6.64% |
| Tax-Supported Local Lease |
2.97% |
| Tax-Supported State Lease |
2.54% |
| SUBTOTAL |
39.05% |
| Prerefunded/ETM |
6.55% |
| Note/VRDBs |
|
| Money Market |
2.91% |
| SUBTOTAL |
2.91% |
| Insured/Guaranteed |
|
| Guaranteed |
0.93% |
| SUBTOTAL |
0.93% |
| Cash Equivalents |
|
| Investment Companies |
0.07% |
| SUBTOTAL |
0.07% |
| Total |
100.00% |
| State Breakdown |
Portfolio % |
| New York |
17.51% |
| California |
15.00% |
| Texas |
13.02% |
| Florida |
7.02% |
| Connecticut |
5.93% |
| New Jersey |
5.08% |
| Illinois |
4.94% |
| Michigan |
4.89% |
| Pennsylvania |
4.88% |
| Massachusetts |
2.53% |
| Hawaii |
1.74% |
| Washington |
1.55% |
| North Carolina |
1.41% |
| Tennessee |
1.29% |
| Louisiana |
1.26% |
| Kentucky |
1.24% |
| Colorado |
1.22% |
| Maryland |
1.08% |
| Indiana |
1.04% |
| District of Columbia |
1.00% |
| Ohio |
0.92% |
| Alabama |
0.89% |
| Oregon |
0.82% |
| South Carolina |
0.80% |
| Georgia |
0.78% |
| Arizona |
0.68% |
| Minnesota |
0.44% |
| Arkansas |
0.32% |
| Missouri |
0.29% |
| Oklahoma |
0.26% |
| Wisconsin |
0.10% |
| Other |
0.07% |
| Total Investments |
100.00% |
| Credit Quality Breakdown |
Portfolio % |
| AAA |
12.16% |
| AA |
50.98% |
| A |
16.54% |
| BBB |
12.62% |
| B |
0.28% |
| Not Rated |
0.80% |
| Pre-refunded Bonds |
6.55% |
| Short Term Investments |
0.07% |
| Total Investments |
100.00% |
| Bonds By Maturity |
Portfolio % |
| Less than 1 year |
0.07% |
| 1 to 5 years |
1.57% |
| 5 to 10 years |
10.35% |
| 10 to 20 years |
68.36% |
| 20 to 30 years |
19.65% |
| More than 30 years |
0.00% |
| Other |
0.00% |
| Total Investments |
100.00% |
| Portfolio Statistics: |
|
| AMT Percentage: |
9.56% |
| Average Coupon: |
5.29% |
| Percentage of Leverage: |
|
| Bank Borrowing: |
0.00% |
| Investment Operations: |
0.00% |
| Auction Preferred Shares (APS): |
13.49% |
| Tender Option Bonds: |
6.68% |
| Variable Rate MuniFund Term Preferred Shares (VMTPs): |
20.66% |
| Total Fund Leverage: |
40.83%* |
| Average Effective Maturity: |
6.34 Years |
| Effective Duration: |
5.67 Years |
| Total Net Assets: |
$549.31 Million** |
| Common Stock Net Asset Value: |
$15.90 |
| Number of Holdings: |
168 |
| Portfolio Turnover: |
24% |
| * The total percentage of leverage constitutes 6.68% through the use |
|
| 20.66% in issued and outstanding VMTPs and 0.00% in investment operations, |
|
| techniques such as credit default swaps, dollar rolls, negative cash, |
|
| ** 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
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