AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Nov. 27, 2017 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.(NYSE: AFB) (the "Fund") today released its monthly portfolio update as of October 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 |
2.51% |
|
2) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.25% |
|
3) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.14% |
|
4) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.71% |
|
5) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.46% |
|
6) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.45% |
|
7) City of Orlando FL Series 2014A 5.00%, 11/01/44 (Prerefunded/ETM) |
1.35% |
|
8) Wayne State University Series 2009A 5.00%, 11/15/29 |
1.35% |
|
9) Chicago O'Hare International Airport Series 2016B 5.00%, 1/01/41 |
1.32% |
|
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 |
10.53% |
|
Airport |
9.84% |
|
Health Care - Not-for-Profit |
9.53% |
|
Higher Education - Public |
5.57% |
|
Revenue - Miscellaneous |
4.56% |
|
Electric Utility |
4.03% |
|
Water & Sewer |
3.65% |
|
Port |
1.47% |
|
Prepay Energy |
0.70% |
|
Primary/Secondary Ed. - Public |
0.55% |
|
Senior Living |
0.29% |
|
Higher Education - Private |
0.18% |
|
SUBTOTAL |
50.90% |
|
Tax Supported |
||
Special Tax |
16.77% |
|
State G.O. |
8.07% |
|
Local G.O. |
7.21% |
|
Tax-Supported State Lease |
2.64% |
|
Tax-Supported Local Lease |
1.16% |
|
SUBTOTAL |
35.85% |
|
Prerefunded/ETM |
12.05% |
|
Insured/Guaranteed |
||
Guaranteed |
0.96% |
|
SUBTOTAL |
0.96% |
|
Cash Equivalents |
||
Investment Companies |
0.24% |
|
SUBTOTAL |
0.24% |
|
Total |
100.00% |
|
State Breakdown |
Portfolio % |
|
New York |
16.44% |
|
California |
14.61% |
|
Texas |
10.35% |
|
Pennsylvania |
7.36% |
|
Illinois |
6.87% |
|
Florida |
5.98% |
|
New Jersey |
5.95% |
|
Connecticut |
5.85% |
|
Michigan |
5.40% |
|
Massachusetts |
2.56% |
|
Hawaii |
1.75% |
|
Washington |
1.57% |
|
North Carolina |
1.41% |
|
Kentucky |
1.40% |
|
Tennessee |
1.18% |
|
Alabama |
1.13% |
|
Colorado |
1.13% |
|
Maryland |
1.06% |
|
District of Columbia |
1.02% |
|
Louisiana |
0.94% |
|
Oregon |
0.82% |
|
South Carolina |
0.80% |
|
Georgia |
0.78% |
|
Utah |
0.75% |
|
Arizona |
0.70% |
|
Minnesota |
0.45% |
|
Arkansas |
0.32% |
|
Missouri |
0.30% |
|
Ohio |
0.30% |
|
Oklahoma |
0.27% |
|
Indiana |
0.20% |
|
Wisconsin |
0.11% |
|
Other |
0.24% |
|
Total Investments |
100.00% |
|
Credit Quality Breakdown |
Portfolio % |
|
AAA |
7.97% |
|
AA |
40.81% |
|
A |
26.43% |
|
BBB |
11.40% |
|
B |
0.27% |
|
Not Rated |
0.83% |
|
Pre-refunded Bonds |
12.05% |
|
Short-Term Investments |
0.24% |
|
Total Investments |
100.00% |
|
Bonds By Maturity |
Portfolio % |
|
Less than 1 year |
0.24% |
|
1 to 5 years |
2.00% |
|
5 to 10 years |
9.78% |
|
10 to 20 years |
67.39% |
|
20 to 30 years |
20.59% |
|
More Than 30 years |
0.00% |
|
Other |
0.00% |
|
Total Investments |
100.00% |
|
Portfolio Statistics: |
||
AMT Percent: |
10.32% |
|
Average Coupon: |
5.23% |
|
Percentage of Leverage: |
||
Bank Borrowing: |
0.00% |
|
Investment Operations: |
1.27% |
|
Auction Preferred Shares (APS): |
14.10% |
|
Tender Option Bonds: |
4.01% |
|
Variable Rate MuniFund Term Preferred Shares (VMTPs): |
21.59% |
|
Total Fund Leverage: |
40.97%* |
|
Average Effective Maturity: |
5.91 Years |
|
Effective Duration: |
4.59 Years |
|
Total Net Assets: |
$521.57 Million** |
|
Common Stock Net Asset Value: |
$14.94 |
|
Number of Holdings: |
166 |
|
Portfolio Turnover: |
14% |
|
* The total percentage of leverage constitutes 4.01% through the use of tender option bonds, 14.10% in issued and outstanding APS,21.59% in issued and outstanding VMTPs and 1.270% 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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