AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Sept. 26, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of August 31, 2016.
AllianceBernstein National Municipal Income Fund, Inc. |
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Top 10 Fixed-Income Holdings |
Portfolio % |
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1) Texas Trnsp Comm 5.00%, 4/01/23 |
2.91% |
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2) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35 |
2.52% |
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3) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.29% |
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4) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.12% |
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5) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.70% |
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6) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.46% |
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7) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.46% |
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8) Wayne State University Series 2009A 5.00%, 11/15/29 |
1.33% |
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9) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 |
1.30% |
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10) Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP) Series 2015 5.00%, 12/31/38 |
1.29% |
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Sector/Industry Breakdown |
Portfolio % |
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Revenue |
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Toll Roads/Transit |
11.00% |
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Health Care - Not-for-Profit |
9.66% |
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Airport |
7.06% |
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Water & Sewer |
5.62% |
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Higher Education - Public |
4.70% |
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Electric Utility |
4.01% |
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Revenue - Miscellaneous |
3.84% |
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Port |
0.80% |
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Prepay Energy |
0.68% |
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Higher Education - Private |
0.57% |
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Primary/Secondary Ed. - Public |
0.56% |
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Industrial Development - Utility |
0.42% |
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Senior Living |
0.40% |
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SUBTOTAL |
49.32% |
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Tax Supported |
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Special Tax |
19.67% |
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State G.O. |
7.27% |
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Local G.O. |
6.64% |
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Tax-Supported Local Lease |
2.96% |
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Tax-Supported State Lease |
2.55% |
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SUBTOTAL |
39.09% |
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Prerefunded/ETM |
7.89% |
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Note/VRDBs |
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Money Market |
2.91% |
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SUBTOTAL |
2.91% |
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Insured/Guaranteed |
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Guaranteed |
0.79% |
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SUBTOTAL |
0.79% |
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Total |
100.00% |
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State Breakdown |
Portfolio % |
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New York |
17.54% |
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California |
15.08% |
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Texas |
13.00% |
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Florida |
7.59% |
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Connecticut |
5.93% |
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New Jersey |
5.11% |
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Illinois |
4.96% |
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Michigan |
4.90% |
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Pennsylvania |
4.88% |
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Massachusetts |
2.53% |
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Hawaii |
1.73% |
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Washington |
1.55% |
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North Carolina |
1.41% |
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Tennessee |
1.29% |
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Kentucky |
1.24% |
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Colorado |
1.22% |
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Louisiana |
1.10% |
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Maryland |
1.09% |
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Indiana |
1.03% |
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District of Columbia |
1.00% |
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Alabama |
0.89% |
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Oregon |
0.82% |
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South Carolina |
0.80% |
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Georgia |
0.78% |
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Arizona |
0.68% |
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Minnesota |
0.44% |
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Ohio |
0.43% |
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Arkansas |
0.32% |
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Missouri |
0.29% |
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Oklahoma |
0.27% |
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Wisconsin |
0.10% |
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Total Investments |
100.00% |
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Credit Quality Breakdown |
Portfolio % |
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AAA |
12.01% |
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AA |
48.55% |
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A |
18.31% |
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BBB |
11.51% |
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BB |
0.65% |
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B |
0.28% |
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Not Rated |
0.80% |
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Pre-refunded Bonds |
7.89% |
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Total Investments |
100.00% |
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Bonds By Maturity |
Portfolio % |
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Less than 1 year |
0.00% |
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1 to 5 years |
1.41% |
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5 to 10 years |
10.56% |
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10 to 20 years |
68.34% |
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20 to 30 years |
19.69% |
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More than 30 years |
0.00% |
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Other |
0.00% |
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Total Investments |
100.00% |
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Portfolio Statistics: |
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AMT Percentage: |
9.63% |
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Average Coupon: |
5.26% |
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Percentage of Leverage: |
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Bank Borrowing: |
0.00% |
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Investment Operations: |
0.00% |
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Auction Preferred Shares (APS): |
13.56% |
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Tender Option Bonds: |
6.71% |
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Variable Rate MuniFund Term Preferred Shares (VMTPs): |
20.77% |
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Total Fund Leverage: |
41.04%* |
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Average Effective Maturity: |
6.96 Years |
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Effective Duration: |
5.50 Years |
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Total Net Assets: |
$548.82 Million** |
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Common Stock Net Asset Value: |
$15.89 |
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Number of Holdings: |
169 |
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Portfolio Turnover: |
24% |
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* The total percentage of leverage constitutes 6.71% through the use |
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of tender option bonds, 13.56% in issued and outstanding APS, |
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20.77% in issued and outstanding VMTPs and 0.00% in investment operations, |
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which may include the use of certain portfolio management |
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techniques such as credit default swaps, dollar rolls, negative cash, |
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reverse repurchase agreements and when - issued securities. |
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** Includes $92,125,000 of APS at liquidation value. |
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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. |
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The foregoing portfolio characteristics are as of the date indicated |
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and can be expected to change. The Fund is a closed-end U.S.- |
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registered management investment company advised by AllianceBernstein |
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L. P. |
SOURCE AllianceBernstein National Municipal Income Fund, Inc.
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