AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, June 23, 2017 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.(NYSE: AFB) (the "Fund") today released its monthly portfolio update as of May 31, 2017.
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 |
2.35% |
|
| 3) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.18% |
|
| 4) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.74% |
|
| 5) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.51% |
|
| 6) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.48% |
|
| 7) City of Orlando FL Series 2014A 5.00%, 11/01/44 (Prerefunded/ETM) |
1.39% |
|
| 8) Wayne State University Series 2009A 5.00%, 11/15/29 |
1.37% |
|
| 9) Chicago O'Hare International Airport Series 2016B 5.00%, 1/01/41 |
1.33% |
|
| 10) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 |
1.31% |
|
| Sector/Industry Breakdown |
Portfolio % |
|
| Revenue |
||
| Toll Roads/Transit |
10.79% |
|
| Airport |
9.58% |
|
| Health Care - Not-for-Profit |
9.30% |
|
| Revenue - Miscellaneous |
5.82% |
|
| Higher Education - Public |
5.64% |
|
| Electric Utility |
4.09% |
|
| Water & Sewer |
3.71% |
|
| Port |
1.48% |
|
| Prepay Energy |
0.72% |
|
| Primary/Secondary Ed. - Public |
0.56% |
|
| Senior Living |
0.41% |
|
| Higher Education - Private |
0.18% |
|
| SUBTOTAL |
52.28% |
|
| Tax Supported |
||
| Special Tax |
17.12% |
|
| State G.O. |
7.30% |
|
| Local G.O. |
6.47% |
|
| Tax-Supported State Lease |
2.61% |
|
| Tax-Supported Local Lease |
2.03% |
|
| SUBTOTAL |
35.53% |
|
| Prerefunded/ETM |
11.37% |
|
| Insured/Guaranteed |
||
| Guaranteed |
0.80% |
|
| SUBTOTAL |
0.80% |
|
| Cash Equivalents |
||
| Investment Companies |
0.02% |
|
| SUBTOTAL |
0.02% |
|
| Total |
100.00% |
|
| State Breakdown |
Portfolio % |
|
| New York |
16.70% |
|
| California |
15.45% |
|
| Texas |
9.52% |
|
| Florida |
6.95% |
|
| Illinois |
6.05% |
|
| Connecticut |
6.02% |
|
| New Jersey |
5.93% |
|
| Pennsylvania |
5.68% |
|
| Michigan |
5.49% |
|
| Massachusetts |
2.61% |
|
| Hawaii |
1.78% |
|
| Alabama |
1.60% |
|
| Washington |
1.60% |
|
| Kentucky |
1.43% |
|
| North Carolina |
1.42% |
|
| Colorado |
1.28% |
|
| Tennessee |
1.16% |
|
| Louisiana |
1.14% |
|
| Maryland |
1.07% |
|
| District of Columbia |
1.04% |
|
| Oregon |
0.84% |
|
| South Carolina |
0.81% |
|
| Georgia |
0.80% |
|
| Utah |
0.76% |
|
| Arizona |
0.72% |
|
| Indiana |
0.66% |
|
| Minnesota |
0.46% |
|
| Arkansas |
0.33% |
|
| Missouri |
0.30% |
|
| Oklahoma |
0.27% |
|
| Wisconsin |
0.11% |
|
| Ohio |
0.00% |
|
| Other |
0.02% |
|
| Total Investments |
100.00% |
|
| Credit Quality Breakdown |
Portfolio % |
|
| AAA |
7.90% |
|
| AA |
43.36% |
|
| A |
24.42% |
|
| BBB |
11.33% |
|
| B |
0.74% |
|
| Not Rated |
0.86% |
|
| Pre-refunded Bonds |
11.37% |
|
| Short-Term Investments |
0.02% |
|
| Total Investments |
100.00% |
|
| Bonds By Maturity |
Portfolio % |
|
| Less than 1 year |
0.39% |
|
| 1 to 5 years |
0.88% |
|
| 5 to 10 years |
9.16% |
|
| 10 to 20 years |
67.28% |
|
| 20 to 30 years |
21.53% |
|
| More Than 30 years |
0.76% |
|
| Other |
0.00% |
|
| Total Investments |
100.00% |
|
| Portfolio Statistics: |
||
| AMT Percent: |
10.19% |
|
| Average Coupon: |
5.16% |
|
| Percentage of Leverage: |
||
| Bank Borrowing: |
0.00% |
|
| Investment Operations: |
0.00% |
|
| Auction Preferred Shares (APS): |
14.05% |
|
| Tender Option Bonds: |
4.75% |
|
| Variable Rate MuniFund Term Preferred Shares (VMTPs): |
21.51% |
|
| Total Fund Leverage: |
40.31%* |
|
| Average Effective Maturity: |
6.89 Years |
|
| Effective Duration: |
5.34 Years |
|
| Total Net Assets: |
$522.81 Million** |
|
| Common Stock Net Asset Value: |
$14.98 |
|
| Number of Holdings: |
170 |
|
| Portfolio Turnover: |
14% |
|
* The total percentage of leverage constitutes 4.75% through the use of tender option bonds, 14.05% in issued and outstanding APS,21.51% 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 $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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