AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, July 22, 2019 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of June 30,2019.
AllianceBernstein National Municipal Income Fund, Inc. |
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Top 10 Fixed-Income Holdings |
Portfolio % |
|
1) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35 |
2.55% |
|
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 |
2.05% |
|
4) Central Plains Energy Project (Goldman Sachs Group Inc/The) Series 2017A 5.00%, 9/01/42 |
1.93% |
|
5) Jefferson County Board of Education/AL Series 2018 5.00%, 2/01/46 |
1.71% |
|
6) Los Angeles Department of Water & Power Power System Revenue Series 2013B 5.00%, 7/01/30 |
1.67% |
|
7) Wisconsin Public Finance Authority(CHF - Wilmington LLC) AGM 5.00%, 7/01/58 |
1.64% |
|
8) Detroit Downtown Development Authority AGM Series 2018A 5.00%, 7/01/48 |
1.61% |
|
9) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.51% |
|
10) Tobacco Settlement Financing Corp./NJ Series 2018A 5.00%, 6/01/46 |
1.47% |
|
Sector/Industry Breakdown |
Portfolio % |
|
Revenue |
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Health Care - Not-for-Profit |
17.42% |
|
Airport |
8.87% |
|
Toll Roads/Transit |
7.40% |
|
Electric Utility |
4.70% |
|
Revenue - Miscellaneous |
4.60% |
|
Water & Sewer |
3.05% |
|
Prepay Energy |
2.62% |
|
Higher Education - Public |
1.77% |
|
Port |
1.51% |
|
Tobacco Securitization |
1.47% |
|
Industrial Development - Utility |
1.04% |
|
Higher Education - Private |
0.60% |
|
Primary/Secondary Ed. - Public |
0.27% |
|
Senior Living |
0.27% |
|
Industrial Development - Industry |
0.19% |
|
SUBTOTAL |
55.78% |
|
Tax Supported |
||
Special Tax |
18.21% |
|
State G.O. |
6.69% |
|
Local G.O. |
3.37% |
|
Assessment District |
2.09% |
|
Tax-Supported State Lease |
1.69% |
|
Tax-Supported Local Lease |
0.80% |
|
SUBTOTAL |
32.85% |
|
Prerefunded/ETM |
8.71% |
|
Cash Equivalents |
||
Investment Companies |
1.87% |
|
SUBTOTAL |
1.87% |
|
Insured/Guaranteed |
||
Guaranteed |
0.79% |
|
SUBTOTAL |
0.79% |
|
Total |
100.00% |
|
State Breakdown |
Portfolio % |
|
New York |
11.87% |
|
California |
11.64% |
|
Pennsylvania |
7.89% |
|
Illinois |
7.47% |
|
New Jersey |
7.08% |
|
Michigan |
6.90% |
|
Texas |
6.10% |
|
Connecticut |
5.41% |
|
Florida |
4.28% |
|
South Carolina |
3.07% |
|
Massachusetts |
2.45% |
|
Alabama |
2.39% |
|
Nebraska |
1.93% |
|
Wisconsin |
1.64% |
|
North Carolina |
1.58% |
|
Minnesota |
1.48% |
|
Oklahoma |
1.47% |
|
Tennessee |
1.20% |
|
Utah |
1.19% |
|
Hawaii |
1.17% |
|
Colorado |
1.12% |
|
Maryland |
1.10% |
|
District of Columbia |
1.00% |
|
Georgia |
0.92% |
|
Ohio |
0.91% |
|
Kansas |
0.85% |
|
Kentucky |
0.82% |
|
Oregon |
0.78% |
|
Arizona |
0.68% |
|
West Virginia |
0.65% |
|
Puerto Rico |
0.38% |
|
Arkansas |
0.32% |
|
Indiana |
0.20% |
|
Iowa |
0.19% |
|
Other |
1.87% |
|
Total Investments |
100.00% |
|
Credit Quality Breakdown |
Portfolio % |
|
AAA |
8.10% |
|
AA |
30.41% |
|
A |
35.98% |
|
BBB |
12.77% |
|
BB |
0.49% |
|
B |
0.46% |
|
D |
0.00% |
|
Not Rated |
1.21% |
|
Pre-refunded Bonds |
8.71% |
|
Short-Term Investments |
1.87% |
|
Total Investments |
100.00% |
|
Bonds By Maturity |
Portfolio % |
|
Less than 1 year |
1.87% |
|
1 to 5 years |
1.71% |
|
5 to 10 years |
14.94% |
|
10 to 20 years |
41.08% |
|
20 to 30 years |
35.16% |
|
More Than 30 years |
4.57% |
|
Other |
0.67% |
|
Total Investments |
100.00% |
|
Portfolio Statistics: |
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AMT Percent: |
10.30% |
|
Average Coupon: |
5.04% |
|
Percentage of Leverage: |
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Bank Borrowing: |
0.00% |
|
Investment Operations: |
0.00% |
|
Auction Preferred Shares (APS): |
0.42% |
|
Tender Option Bonds: |
3.99% |
|
Variable Rate MuniFund Term Preferred Shares (VMTPs): |
34.91% |
|
Total Fund Leverage: |
39.32%* |
|
Average Effective Maturity: |
5.64 Years |
|
Effective Duration: |
4.88 Years |
|
Total Net Assets: |
$436.41 Million** |
|
Common Stock Net Asset Value: |
$15.09 |
|
Number of Holdings: |
157 |
|
Portfolio Turnover: |
22% |
|
* The total percentage of leverage constitutes 3.99% through the use of tender option bonds, 0.420% in issued and outstanding APS,34.91% 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. |
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** 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. |
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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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