AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Oct. 22, 2018 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of September 30, 2018.
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 |
2.50% |
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2) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.27% |
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3) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.12% |
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4) Central Plains Energy Project (Goldman Sachs Group Inc/The) Series 2017A 5.00%, 9/01/42 |
1.75% |
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5) Los Angeles Department of Water & Power Power System Revenue Series 2013B 5.00%, 7/01/30 |
1.70% |
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6) Jefferson County Board of Education/AL Series 2018 5.00%, 2/01/46 |
1.66% |
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7) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.47% |
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8) Tobacco Settlement Financing Corp./NJ Series 2018A 5.00%, 6/01/46 |
1.46% |
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9) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.45% |
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10) Chicago O'Hare International Airport Series 2016B 5.00%, 1/01/41 |
1.32% |
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Sector/Industry Breakdown |
Portfolio % |
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Revenue |
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Health Care - Not-for-Profit |
13.97% |
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Airport |
9.46% |
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Toll Roads/Transit |
6.60% |
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Electric Utility |
5.95% |
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Revenue - Miscellaneous |
4.14% |
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Water & Sewer |
3.63% |
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Prepay Energy |
2.45% |
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Higher Education - Public |
1.83% |
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Port |
1.49% |
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Tobacco Securitization |
1.46% |
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Higher Education - Private |
0.59% |
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Senior Living |
0.27% |
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Primary/Secondary Ed. - Public |
0.27% |
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Industrial Development - Industry |
0.19% |
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SUBTOTAL |
52.30% |
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Tax Supported |
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Special Tax |
17.94% |
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State G.O. |
7.85% |
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Local G.O. |
6.78% |
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Tax-Supported State Lease |
3.08% |
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Tax-Supported Local Lease |
1.15% |
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SUBTOTAL |
36.80% |
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Prerefunded/ETM |
10.07% |
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Insured/Guaranteed |
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Guaranteed |
0.79% |
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SUBTOTAL |
0.79% |
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Cash Equivalents |
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Investment Companies |
0.04% |
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SUBTOTAL |
0.04% |
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Total |
100.00% |
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State Breakdown |
Portfolio % |
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New York |
15.51% |
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California |
13.08% |
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Pennsylvania |
9.69% |
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New Jersey |
7.07% |
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Texas |
6.93% |
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Connecticut |
6.26% |
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Illinois |
6.26% |
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Michigan |
5.43% |
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Florida |
5.39% |
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Massachusetts |
2.53% |
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Alabama |
2.33% |
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South Carolina |
2.01% |
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Nebraska |
1.75% |
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Washington |
1.57% |
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Hawaii |
1.52% |
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Kentucky |
1.41% |
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Tennessee |
1.20% |
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Colorado |
1.13% |
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Maryland |
1.08% |
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District of Columbia |
1.01% |
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Kansas |
0.83% |
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Oregon |
0.82% |
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Minnesota |
0.80% |
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Georgia |
0.79% |
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Utah |
0.75% |
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North Carolina |
0.73% |
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Arizona |
0.70% |
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Arkansas |
0.33% |
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Ohio |
0.30% |
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Oklahoma |
0.27% |
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Indiana |
0.20% |
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Iowa |
0.19% |
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Wisconsin |
0.09% |
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Other |
0.04% |
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Total Investments |
100.00% |
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Credit Quality Breakdown |
Portfolio % |
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AAA |
11.11% |
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AA |
33.36% |
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A |
32.07% |
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BBB |
11.54% |
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BB |
0.48% |
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B |
0.47% |
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D |
0.00% |
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Not Rated |
0.86% |
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Pre-refunded Bonds |
10.07% |
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Short-Term Investments |
0.04% |
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Total Investments |
100.00% |
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Bonds By Maturity |
Portfolio % |
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Less than 1 year |
0.04% |
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1 to 5 years |
1.05% |
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5 to 10 years |
10.80% |
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10 to 20 years |
57.46% |
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20 to 30 years |
29.66% |
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More Than 30 years |
0.99% |
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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: |
9.70% |
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Average Coupon: |
5.18% |
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Percentage of Leverage: |
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Bank Borrowing: |
0.00% |
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Investment Operations: |
0.48% |
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Auction Preferred Shares (APS): |
14.61% |
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Tender Option Bonds: |
4.15% |
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Variable Rate MuniFund Term Preferred Shares (VMTPs): |
22.38% |
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Total Fund Leverage: |
41.62%* |
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Average Effective Maturity: |
5.98 Years |
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Effective Duration: |
5.16 Years |
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Total Net Assets: |
$497.64 Million** |
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Common Stock Net Asset Value: |
$14.11 |
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Number of Holdings: |
165 |
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Portfolio Turnover: |
11% |
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* The total percentage of leverage constitutes 4.15% through the use of tender option bonds, 14.61% in issued and outstanding APS,22.38% in issued and outstanding VMTPs and 0.480% 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. |
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SOURCE AllianceBernstein National Municipal Income Fund, Inc.
Related Links
http://www.alliancebernstein.com
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