AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, April 25, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of March 31, 2016.

 

AllianceBernstein National Municipal Income Fund, Inc.






Top 10 Fixed-Income Holdings

Portfolio %

1) Texas Trnsp Comm 5.00%, 4/01/23

3.02%

2) Wayne State University Series 2009A 5.00%, 11/15/29

2.59%

3) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35

2.48%

4) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29

2.30%

5) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax)  Series 2011B 5.00%, 10/15/32

2.15%

6) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30

1.68%

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

1.43%

9) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44

1.27%

10) Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP)  Series 2015 5.00%, 12/31/38

1.25%







Sector/Industry Breakdown

Portfolio %

Revenue


Toll Roads/Transit

10.35%

Health Care - Not-for-Profit

10.03%

Higher Education - Public

6.98%

Airport

6.33%

Water & Sewer

5.70%

Electric Utility

3.98%

Revenue - Miscellaneous

3.71%

Industrial Development - Utility

0.96%

Port

0.84%

Prepay Energy

0.69%

Senior Living

0.41%

Higher Education - Private

0.32%

Primary/Secondary Ed. - Public

0.29%

SUBTOTAL

50.59%

Tax Supported


Special Tax

19.68%

State G.O.

7.32%

Local G.O.

6.72%

Tax-Supported Local Lease

3.27%

Tax-Supported State Lease

2.56%

SUBTOTAL

39.55%

Prerefunded/ETM

5.90%

Note/VRDBs


Money Market

3.02%

SUBTOTAL

3.02%

Insured/Guaranteed


Guaranteed

0.92%

SUBTOTAL

0.92%

Cash Equivalents


Investment Companies

0.02%

SUBTOTAL

0.02%

Total

100.00%



State Breakdown

Portfolio %

New York

17.70%

California

15.11%

Texas

12.44%

Florida

6.62%

Connecticut

5.97%

New Jersey

5.02%

Michigan

4.92%

Illinois

4.92%

Pennsylvania

4.91%

Massachusetts

2.57%

Hawaii

1.73%

Washington

1.59%

North Carolina

1.39%

Louisiana

1.31%

Colorado

1.30%

Tennessee

1.27%

Kentucky

1.24%

Maryland

1.05%

South Carolina

1.02%

Ohio

1.01%

Alabama

0.91%

Oregon

0.84%

District of Columbia

0.84%

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

0.02%

Total Investments

100.00%



Credit Quality Breakdown

Portfolio %

AAA

13.33%

AA

51.41%

A

18.58%

BBB

9.65%

B

0.28%

Not Rated

0.83%

Pre-refunded Bonds

5.90%

Short Term Investments

0.02%

Total Investments

100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

0.02%

1 to 5 years

0.91%

5 to 10 years

10.05%

10 to 20 years

69.95%

20 to 30 years

19.07%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

9.50%

Average Coupon:

5.38%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.00%

Auction Preferred Shares (APS):

13.89%

Tender Option Bonds:

7.94%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

21.28%

Total Fund Leverage:

43.11%*

Average Effective Maturity:

6.52 Years

Effective Duration:

5.79 Years

Total Net Assets:

$534.68 Million**

Common Stock Net Asset Value:

$15.40

Number of Holdings:

166

Portfolio Turnover:

24%

 

* The total percentage of leverage constitutes 7.94% through the use of tender option bonds, 13.89% in issued and outstanding APS, 21.28% 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.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-releases-monthly-portfolio-update-300256937.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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