AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, May 20, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of April 30, 2016.
AllianceBernstein National Municipal Income Fund, Inc. |
|
Top 10 Fixed-Income Holdings |
Portfolio % |
1) Texas Trnsp Comm 5.00%, 4/01/23 |
2.98% |
2) Wayne State University Series 2009A 5.00%, 11/15/29 |
2.56% |
3) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35 |
2.49% |
4) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.29% |
5) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.14% |
6) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.70% |
7) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.46% |
8) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.45% |
9) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 |
1.27% |
10) New York State Dormitory Authority (State of New York Pers Income Tax) Series 2012B 5.00%, 3/15/32 |
1.25% |
Sector/Industry Breakdown |
Portfolio % |
Revenue |
|
Toll Roads/Transit |
10.33% |
Health Care - Not-for-Profit |
10.05% |
Airport |
6.32% |
Higher Education - Public |
5.89% |
Water & Sewer |
5.67% |
Electric Utility |
4.01% |
Revenue - Miscellaneous |
3.69% |
Industrial Development - Utility |
0.95% |
Port |
0.80% |
Prepay Energy |
0.69% |
Higher Education - Private |
0.66% |
Senior Living |
0.41% |
Primary/Secondary Ed. - Public |
0.28% |
SUBTOTAL |
49.75% |
Tax Supported |
|
Special Tax |
19.65% |
State G.O. |
7.31% |
Local G.O. |
6.69% |
Tax-Supported Local Lease |
2.94% |
Tax-Supported State Lease |
2.55% |
SUBTOTAL |
39.14% |
Prerefunded/ETM |
7.18% |
Note/VRDBs |
|
Money Market |
2.98% |
SUBTOTAL |
2.98% |
Insured/Guaranteed |
|
Guaranteed |
0.92% |
SUBTOTAL |
0.92% |
Cash Equivalents |
|
Investment Companies |
0.03% |
SUBTOTAL |
0.03% |
Total |
100.00% |
State Breakdown |
Portfolio % |
New York |
17.69% |
California |
15.09% |
Texas |
12.33% |
Florida |
6.96% |
Connecticut |
5.94% |
New Jersey |
5.03% |
Illinois |
4.91% |
Pennsylvania |
4.89% |
Michigan |
4.88% |
Massachusetts |
2.56% |
Hawaii |
1.73% |
Washington |
1.57% |
North Carolina |
1.39% |
Colorado |
1.29% |
Louisiana |
1.29% |
Tennessee |
1.27% |
Kentucky |
1.24% |
Maryland |
1.06% |
South Carolina |
1.02% |
Ohio |
0.96% |
Alabama |
0.90% |
District of Columbia |
0.84% |
Oregon |
0.83% |
Indiana |
0.79% |
Georgia |
0.78% |
Arizona |
0.69% |
Mississippi |
0.56% |
Minnesota |
0.44% |
Arkansas |
0.32% |
Missouri |
0.30% |
Oklahoma |
0.26% |
Wisconsin |
0.16% |
Other |
0.03% |
Total Investments |
100.00% |
Credit Quality Breakdown |
Portfolio % |
AAA |
12.23% |
AA |
50.97% |
A |
18.89% |
BBB |
9.64% |
B |
0.28% |
Not Rated |
0.78% |
Pre-refunded Bonds |
7.18% |
Short Term Investments |
0.03% |
Total Investments |
100.00% |
Bonds By Maturity |
Portfolio % |
Less than 1 year |
0.03% |
1 to 5 years |
0.90% |
5 to 10 years |
9.97% |
10 to 20 years |
70.03% |
20 to 30 years |
19.07% |
More than 30 years |
0.00% |
Other |
0.00% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percentage: |
9.52% |
Average Coupon: |
5.39% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
0.37% |
Auction Preferred Shares (APS): |
13.80% |
Tender Option Bonds: |
6.84% |
Variable Rate MuniFund Term Preferred Shares (VMTPs): |
21.14% |
Total Fund Leverage: |
42.15%* |
Average Effective Maturity: |
6.49 Years |
Effective Duration: |
5.77 Years |
Total Net Assets: |
$539.56 Million** |
Common Stock Net Asset Value: |
$15.57 |
Number of Holdings: |
167 |
Portfolio Turnover: |
24% |
* The total percentage of leverage constitutes 6.84% through the use of tender option bonds, 13.80% in issued and outstanding APS, 21.14% in issued and outstanding VMTPs and 0.37% 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 $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.
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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