AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Aug. 26, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.(NYSE: AFB) (the "Fund") today released its monthly portfolio update as of July 31, 2016.
AllianceBernstein National Municipal Income Fund, Inc. |
|
Top 10 Fixed-Income Holdings |
Portfolio % |
1) Texas Transportation Commission State Highway Fund 5.00%, 4/01/23 |
2.91% |
2) Wayne State University Series 2009A 5.00%, 11/15/29 |
2.54% |
3) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) |
2.50% |
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) |
2.12% |
6) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.68% |
7) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) |
1.45% |
8) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.45% |
9) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 |
1.30% |
10) Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP) |
1.29% |
Sector/Industry Breakdown |
Portfolio % |
Revenue |
|
Toll Roads/Transit |
10.95% |
Health Care - Not-for-Profit |
9.63% |
Airport |
6.50% |
Higher Education - Public |
5.87% |
Water & Sewer |
5.62% |
Revenue - Miscellaneous |
4.01% |
Electric Utility |
3.98% |
Industrial Development - Utility |
0.91% |
Port |
0.81% |
Prepay Energy |
0.68% |
Higher Education - Private |
0.57% |
Primary/Secondary Ed. - Public |
0.56% |
Senior Living |
0.40% |
SUBTOTAL |
50.49% |
Tax Supported |
|
Special Tax |
19.66% |
State G.O. |
7.24% |
Local G.O. |
6.64% |
Tax-Supported Local Lease |
2.97% |
Tax-Supported State Lease |
2.54% |
SUBTOTAL |
39.05% |
Prerefunded/ETM |
6.55% |
Note/VRDBs |
|
Money Market |
2.91% |
SUBTOTAL |
2.91% |
Insured/Guaranteed |
|
Guaranteed |
0.93% |
SUBTOTAL |
0.93% |
Cash Equivalents |
|
Investment Companies |
0.07% |
SUBTOTAL |
0.07% |
Total |
100.00% |
State Breakdown |
Portfolio % |
New York |
17.51% |
California |
15.00% |
Texas |
13.02% |
Florida |
7.02% |
Connecticut |
5.93% |
New Jersey |
5.08% |
Illinois |
4.94% |
Michigan |
4.89% |
Pennsylvania |
4.88% |
Massachusetts |
2.53% |
Hawaii |
1.74% |
Washington |
1.55% |
North Carolina |
1.41% |
Tennessee |
1.29% |
Louisiana |
1.26% |
Kentucky |
1.24% |
Colorado |
1.22% |
Maryland |
1.08% |
Indiana |
1.04% |
District of Columbia |
1.00% |
Ohio |
0.92% |
Alabama |
0.89% |
Oregon |
0.82% |
South Carolina |
0.80% |
Georgia |
0.78% |
Arizona |
0.68% |
Minnesota |
0.44% |
Arkansas |
0.32% |
Missouri |
0.29% |
Oklahoma |
0.26% |
Wisconsin |
0.10% |
Other |
0.07% |
Total Investments |
100.00% |
Credit Quality Breakdown |
Portfolio % |
AAA |
12.16% |
AA |
50.98% |
A |
16.54% |
BBB |
12.62% |
B |
0.28% |
Not Rated |
0.80% |
Pre-refunded Bonds |
6.55% |
Short Term Investments |
0.07% |
Total Investments |
100.00% |
Bonds By Maturity |
Portfolio % |
Less than 1 year |
0.07% |
1 to 5 years |
1.57% |
5 to 10 years |
10.35% |
10 to 20 years |
68.36% |
20 to 30 years |
19.65% |
More than 30 years |
0.00% |
Other |
0.00% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percentage: |
9.56% |
Average Coupon: |
5.29% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
0.00% |
Auction Preferred Shares (APS): |
13.49% |
Tender Option Bonds: |
6.68% |
Variable Rate MuniFund Term Preferred Shares (VMTPs): |
20.66% |
Total Fund Leverage: |
40.83%* |
Average Effective Maturity: |
6.34 Years |
Effective Duration: |
5.67 Years |
Total Net Assets: |
$549.31 Million** |
Common Stock Net Asset Value: |
$15.90 |
Number of Holdings: |
168 |
Portfolio Turnover: |
24% |
* The total percentage of leverage constitutes 6.68% through the use |
|
20.66% in issued and outstanding VMTPs and 0.00% in investment operations, |
|
techniques such as credit default swaps, dollar rolls, negative cash, |
|
** 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
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