AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, July 24, 2017 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of June 30, 2017.
AllianceBernstein National Municipal Income Fund, Inc. |
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Top 10 Fixed-Income Holdings |
Portfolio % |
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1) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35 |
2.53% |
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2) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.31% |
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3) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.18% |
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4) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.74% |
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5) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.49% |
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6) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.48% |
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7) City of Orlando FL Series 2014A 5.00%, 11/01/44 (Prerefunded/ETM) |
1.38% |
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8) Wayne State University Series 2009A 5.00%, 11/15/29 |
1.37% |
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9) Chicago O'Hare International Airport Series 2016B 5.00%, 1/01/41 |
1.33% |
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10) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 |
1.32% |
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Sector/Industry Breakdown |
Portfolio % |
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Revenue |
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Toll Roads/Transit |
10.74% |
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Health Care - Not-for-Profit |
9.62% |
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Airport |
9.59% |
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Revenue - Miscellaneous |
5.85% |
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Higher Education - Public |
5.64% |
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Electric Utility |
4.08% |
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Water & Sewer |
3.70% |
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Port |
1.50% |
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Prepay Energy |
0.72% |
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Primary/Secondary Ed. - Public |
0.57% |
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Senior Living |
0.41% |
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Higher Education - Private |
0.18% |
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SUBTOTAL |
52.60% |
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Tax Supported |
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Special Tax |
17.06% |
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State G.O. |
7.26% |
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Local G.O. |
6.44% |
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Tax-Supported State Lease |
2.62% |
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Tax-Supported Local Lease |
1.17% |
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SUBTOTAL |
34.55% |
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Prerefunded/ETM |
11.36% |
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Insured/Guaranteed |
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Guaranteed |
0.80% |
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SUBTOTAL |
0.80% |
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Cash Equivalents |
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Investment Companies |
0.69% |
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SUBTOTAL |
0.69% |
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Total |
100.00% |
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State Breakdown |
Portfolio % |
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New York |
16.71% |
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California |
15.43% |
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Texas |
9.53% |
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Florida |
6.08% |
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Illinois |
6.02% |
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Connecticut |
5.95% |
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New Jersey |
5.92% |
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Pennsylvania |
5.70% |
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Michigan |
5.49% |
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Massachusetts |
2.61% |
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Hawaii |
1.77% |
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Alabama |
1.60% |
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Washington |
1.60% |
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North Carolina |
1.43% |
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Kentucky |
1.42% |
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Colorado |
1.27% |
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Tennessee |
1.16% |
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Louisiana |
1.14% |
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Maryland |
1.08% |
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District of Columbia |
1.03% |
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Oregon |
0.84% |
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South Carolina |
0.82% |
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Georgia |
0.80% |
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Utah |
0.76% |
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Arizona |
0.72% |
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Indiana |
0.65% |
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Minnesota |
0.46% |
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Arkansas |
0.33% |
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Ohio |
0.31% |
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Missouri |
0.30% |
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Oklahoma |
0.27% |
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Wisconsin |
0.11% |
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Other |
0.69% |
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Total Investments |
100.00% |
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Credit Quality Breakdown |
Portfolio % |
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AAA |
7.91% |
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AA |
41.95% |
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A |
25.11% |
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BBB |
11.36% |
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B |
0.29% |
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CCC |
0.46% |
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Not Rated |
0.87% |
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Pre-refunded Bonds |
11.36% |
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Short-Term Investments |
0.69% |
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Total Investments |
100.00% |
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Bonds By Maturity |
Portfolio % |
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Less than 1 year |
1.06% |
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1 to 5 years |
1.05% |
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5 to 10 years |
9.62% |
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10 to 20 years |
65.62% |
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20 to 30 years |
21.89% |
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More Than 30 years |
0.76% |
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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 Percent: |
10.27% |
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Average Coupon: |
5.15% |
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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): |
14.13% |
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Tender Option Bonds: |
4.02% |
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Variable Rate MuniFund Term Preferred Shares (VMTPs): |
21.64% |
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Total Fund Leverage: |
39.79%* |
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Average Effective Maturity: |
6.82 Years |
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Effective Duration: |
5.28 Years |
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Total Net Assets: |
$518.88 Million** |
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Common Stock Net Asset Value: |
$14.84 |
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Number of Holdings: |
170 |
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Portfolio Turnover: |
14% |
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* The total percentage of leverage constitutes 4.02% through the use of tender option bonds, 14.13% in issued and outstanding APS,21.64% 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 $141,100,000 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 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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