AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, May 20, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of April 30, 2016.

AllianceBernstein National Municipal Income Fund, Inc.






Top 10 Fixed-Income Holdings

Portfolio %

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

2.98%

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

2.56%

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

2.49%

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)  Series 2011B 5.00%, 10/15/32

2.14%

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

1.70%

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

1.45%

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

1.27%

10) New York State Dormitory Authority (State of New York Pers Income Tax)  Series 2012B 5.00%, 3/15/32

1.25%







Sector/Industry Breakdown

Portfolio %

Revenue


Toll Roads/Transit

10.33%

Health Care - Not-for-Profit

10.05%

Airport

6.32%

Higher Education - Public

5.89%

Water & Sewer

5.67%

Electric Utility

4.01%

Revenue - Miscellaneous

3.69%

Industrial Development - Utility

0.95%

Port

0.80%

Prepay Energy

0.69%

Higher Education - Private

0.66%

Senior Living

0.41%

Primary/Secondary Ed. - Public

0.28%

SUBTOTAL

49.75%

Tax Supported


Special Tax

19.65%

State G.O.

7.31%

Local G.O.

6.69%

Tax-Supported Local Lease

2.94%

Tax-Supported State Lease

2.55%

SUBTOTAL

39.14%

Prerefunded/ETM

7.18%

Note/VRDBs


Money Market

2.98%

SUBTOTAL

2.98%

Insured/Guaranteed


Guaranteed

0.92%

SUBTOTAL

0.92%

Cash Equivalents


Investment Companies

0.03%

SUBTOTAL

0.03%

Total

100.00%



State Breakdown

Portfolio %

New York

17.69%

California

15.09%

Texas

12.33%

Florida

6.96%

Connecticut

5.94%

New Jersey

5.03%

Illinois

4.91%

Pennsylvania

4.89%

Michigan

4.88%

Massachusetts

2.56%

Hawaii

1.73%

Washington

1.57%

North Carolina

1.39%

Colorado

1.29%

Louisiana

1.29%

Tennessee

1.27%

Kentucky

1.24%

Maryland

1.06%

South Carolina

1.02%

Ohio

0.96%

Alabama

0.90%

District of Columbia

0.84%

Oregon

0.83%

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

0.03%

Total Investments

100.00%



Credit Quality Breakdown

Portfolio %

AAA

12.23%

AA

50.97%

A

18.89%

BBB

9.64%

B

0.28%

Not Rated

0.78%

Pre-refunded Bonds

7.18%

Short Term Investments

0.03%

Total Investments

100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

0.03%

1 to 5 years

0.90%

5 to 10 years

9.97%

10 to 20 years

70.03%

20 to 30 years

19.07%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

9.52%

Average Coupon:

5.39%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.37%

Auction Preferred Shares (APS):

13.80%

Tender Option Bonds:

6.84%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

21.14%

Total Fund Leverage:

42.15%*

Average Effective Maturity:

6.49 Years

Effective Duration:

5.77 Years

Total Net Assets:

$539.56 Million**

Common Stock Net Asset Value:

$15.57

Number of Holdings:

167

Portfolio Turnover:

24%

 

* The total percentage of leverage constitutes 6.84% through the use of tender option bonds, 13.80% in issued and outstanding APS, 21.14% in issued and outstanding VMTPs and 0.37% 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-300272545.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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