AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Jan. 23, 2017 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of December 31,2016.
AllianceBernstein National Municipal Income Fund, Inc. |
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Top 10 Fixed-Income Holdings |
Portfolio % |
|
1) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35 |
2.51% |
|
2) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.35% |
|
3) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.18% |
|
4) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.73% |
|
5) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.48% |
|
6) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.44% |
|
7) Wayne State University Series 2009A 5.00%, 11/15/29 |
1.40% |
|
8) City of Orlando FL Series 2014A 5.00%, 11/01/44 (Prerefunded/ETM) |
1.37% |
|
9) Chicago O'Hare International Airport Series 2016C 5.00%, 1/01/36 |
1.32% |
|
10) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 |
1.30% |
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Sector/Industry Breakdown |
Portfolio % |
|
Revenue |
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Toll Roads/Transit |
11.03% |
|
Health Care - Not-for-Profit |
9.25% |
|
Airport |
8.77% |
|
Water & Sewer |
5.80% |
|
Higher Education - Public |
4.78% |
|
Electric Utility |
4.07% |
|
Revenue - Miscellaneous |
3.96% |
|
Port |
0.80% |
|
Prepay Energy |
0.71% |
|
Higher Education - Private |
0.58% |
|
Primary/Secondary Ed. - Public |
0.57% |
|
Senior Living |
0.42% |
|
SUBTOTAL |
50.74% |
|
Tax Supported |
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Special Tax |
17.43% |
|
State G.O. |
7.25% |
|
Local G.O. |
6.43% |
|
Tax-Supported Local Lease |
2.82% |
|
Tax-Supported State Lease |
2.76% |
|
SUBTOTAL |
36.69% |
|
Prerefunded/ETM |
11.68% |
|
Insured/Guaranteed |
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Guaranteed |
0.80% |
|
SUBTOTAL |
0.80% |
|
Cash Equivalents |
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Investment Companies |
0.09% |
|
SUBTOTAL |
0.09% |
|
Total |
100.00% |
|
State Breakdown |
Portfolio % |
|
New York |
17.84% |
|
California |
15.30% |
|
Texas |
10.26% |
|
Florida |
7.19% |
|
Illinois |
6.31% |
|
Connecticut |
6.04% |
|
Pennsylvania |
5.66% |
|
Michigan |
5.52% |
|
New Jersey |
5.27% |
|
Massachusetts |
2.60% |
|
Hawaii |
1.77% |
|
Washington |
1.63% |
|
Kentucky |
1.41% |
|
North Carolina |
1.41% |
|
Colorado |
1.26% |
|
Louisiana |
1.18% |
|
Tennessee |
1.16% |
|
Maryland |
1.04% |
|
District of Columbia |
1.03% |
|
Alabama |
0.95% |
|
Oregon |
0.85% |
|
Georgia |
0.80% |
|
South Carolina |
0.80% |
|
Arizona |
0.71% |
|
Minnesota |
0.46% |
|
Indiana |
0.45% |
|
Arkansas |
0.32% |
|
Missouri |
0.31% |
|
Oklahoma |
0.27% |
|
Wisconsin |
0.11% |
|
Ohio |
0.00% |
|
Other |
0.09% |
|
Total Investments |
100.00% |
|
Credit Quality Breakdown |
Portfolio % |
|
AAA |
9.33% |
|
AA |
45.76% |
|
A |
20.41% |
|
BBB |
11.32% |
|
BB |
0.26% |
|
B |
0.30% |
|
Not Rated |
0.85% |
|
Pre-refunded Bonds |
11.68% |
|
Short-Term Investments |
0.09% |
|
Total Investments |
100.00% |
|
Bonds By Maturity |
Portfolio % |
|
Less than 1 year |
0.27% |
|
1 to 5 years |
1.09% |
|
5 to 10 years |
9.33% |
|
10 to 20 years |
70.16% |
|
20 to 30 years |
19.15% |
|
More Than 30 years |
0.00% |
|
Other |
0.00% |
|
Total Investments |
100.00% |
|
Portfolio Statistics: |
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AMT Percent: |
4.87% |
|
Average Coupon: |
5.18% |
|
Percentage of Leverage: |
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Bank Borrowing: |
0.00% |
|
Investment Operations: |
0.00% |
|
Auction Preferred Shares (APS): |
14.48% |
|
Tender Option Bonds: |
4.89% |
|
Variable Rate MuniFund Term Preferred Shares (VMTPs): |
22.17% |
|
Total Fund Leverage: |
41.54%* |
|
Average Effective Maturity: |
7.32 Years |
|
Effective Duration: |
5.58 Years |
|
Total Net Assets: |
$505.24 Million** |
|
Common Stock Net Asset Value: |
$14.37 |
|
Number of Holdings: |
173 |
|
Portfolio Turnover: |
14% |
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* The total percentage of leverage constitutes 4.89% through the use of tender option bonds, 14.48% in issued and outstanding APS,22.17% 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. |
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** Includes $92,125,000 of APS at liquidation value. The Fund also had outstanding $141,000,000 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 and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P. |
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SOURCE AllianceBernstein National Municipal Income Fund, Inc.
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