AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, March 25, 2019 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of February 28, 2019.
AllianceBernstein National Municipal Income Fund, Inc. |
Top 10 Fixed-Income Holdings |
Portfolio % |
1) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35 |
2.53% |
2) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.27% |
3) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.10% |
4) Central Plains Energy Project (Goldman Sachs Group, Inc.(The)) Series 2017A 5.00%, 9/01/42 |
1.73% |
5) Los Angeles Department of Water & Power Power System Revenue Series 2013B 5.00%, 7/01/30 |
1.70% |
6) Jefferson County Board of Education/AL Series 2018 5.00%, 2/01/46 |
1.67% |
7) Detroit Downtown Development Authority AGM Series 2018A 5.00%, 7/01/48 |
1.61% |
8) Wisconsin Public Finance Authority(CHF - Wilmington LLC) AGM 5.00%, 7/01/58 |
1.61% |
9) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.47% |
10) Tobacco Settlement Financing Corp./NJ Series 2018A 5.00%, 6/01/46 |
1.43% |
Sector/Industry Breakdown |
Portfolio % |
Revenue |
|
Health Care - Not-for-Profit |
16.76% |
Airport |
9.69% |
Toll Roads/Transit |
7.42% |
Electric Utility |
4.70% |
Revenue - Miscellaneous |
4.53% |
Water & Sewer |
3.11% |
Prepay Energy |
2.43% |
Higher Education - Public |
1.81% |
Port |
1.49% |
Tobacco Securitization |
1.43% |
Industrial Development - Utility |
1.06% |
Higher Education - Private |
0.59% |
Primary/Secondary Ed. - Public |
0.28% |
Senior Living |
0.26% |
Industrial Development - Industry |
0.19% |
SUBTOTAL |
55.75% |
Tax Supported |
|
Special Tax |
17.97% |
State G.O. |
6.64% |
Local G.O. |
3.39% |
Tax-Supported State Lease |
3.04% |
Assessment District |
2.10% |
Tax-Supported Local Lease |
0.81% |
SUBTOTAL |
33.95% |
Prerefunded/ETM |
8.99% |
Insured/Guaranteed |
|
Guaranteed |
0.80% |
SUBTOTAL |
0.80% |
Cash Equivalents |
|
Investment Companies |
0.51% |
SUBTOTAL |
0.51% |
Total |
100.00% |
State Breakdown |
Portfolio % |
California |
12.70% |
New York |
11.93% |
Pennsylvania |
7.77% |
Illinois |
7.32% |
Michigan |
7.05% |
New Jersey |
7.03% |
Texas |
6.22% |
Connecticut |
5.44% |
Florida |
4.24% |
South Carolina |
3.01% |
Massachusetts |
2.51% |
Alabama |
2.35% |
Nebraska |
1.73% |
Wisconsin |
1.61% |
North Carolina |
1.56% |
Oklahoma |
1.45% |
Minnesota |
1.44% |
Washington |
1.38% |
Tennessee |
1.20% |
Hawaii |
1.19% |
Utah |
1.17% |
Colorado |
1.13% |
Maryland |
1.08% |
District of Columbia |
1.01% |
Georgia |
0.91% |
Kentucky |
0.84% |
Kansas |
0.83% |
Oregon |
0.81% |
Arizona |
0.70% |
West Virginia |
0.63% |
Ohio |
0.53% |
Arkansas |
0.33% |
Indiana |
0.20% |
Iowa |
0.19% |
Other |
0.51% |
Total Investments |
100.00% |
Credit Quality Breakdown |
Portfolio % |
AAA |
8.21% |
AA |
32.86% |
A |
35.44% |
BBB |
12.21% |
BB |
0.48% |
B |
0.47% |
D |
0.00% |
Not Rated |
0.83% |
Pre-refunded Bonds |
8.99% |
Short-Term Investments |
0.51% |
Total Investments |
100.00% |
Bonds By Maturity |
Portfolio % |
Less than 1 year |
0.51% |
1 to 5 years |
1.76% |
5 to 10 years |
14.91% |
10 to 20 years |
44.05% |
20 to 30 years |
35.03% |
More Than 30 years |
3.74% |
Other |
0.00% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percent: |
10.30% |
Average Coupon: |
5.13% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
0.00% |
Auction Preferred Shares (APS): |
0.43% |
Tender Option Bonds: |
4.10% |
Variable Rate MuniFund Term Preferred Shares (VMTPs): |
35.93% |
Total Fund Leverage: |
40.46%* |
Average Effective Maturity: |
5.76 Years |
Effective Duration: |
4.99 Years |
Total Net Assets: |
$415.99 Million** |
Common Stock Net Asset Value: |
$14.38 |
Number of Holdings: |
158 |
Portfolio Turnover: |
22% |
* The total percentage of leverage constitutes 4.10% through the use of tender option bonds, 0.430% in issued and outstanding APS,35.93% 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. |
|
** Includes $2,750,000 of APS at liquidation value.The Fund also had outstanding $229,375,000 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, Inc.
Related Links
http://www.alliancebernstein.com
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