AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, June 24, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of May 31, 2016.

AllianceBernstein National Municipal Income Fund, Inc.




Top 10 Fixed-Income Holdings

Portfolio %

1) Texas Transportation Commission State Highway Fund 5.00%, 4/01/23

2.95%

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

2.53%

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

2.11%

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

1.45%

8) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.)  Series 2014 5.00%, 11/15/39

1.44%

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

1.26%







Sector/Industry Breakdown

Portfolio %

Revenue


Toll Roads/Transit

10.89%

Health Care - Not-for-Profit

10.03%

Airport

6.29%

Higher Education - Public

5.83%

Water & Sewer

5.62%

Electric Utility

3.98%

Revenue - Miscellaneous

3.68%

Industrial Development - Utility

0.93%

Port

0.80%

Prepay Energy

0.68%

Higher Education - Private

0.57%

Senior Living

0.41%

Primary/Secondary Ed. - Public

0.28%

SUBTOTAL

49.99%

Tax Supported


Special Tax

19.58%

State G.O.

7.26%

Local G.O.

6.63%

Tax-Supported Local Lease

2.95%

Tax-Supported State Lease

2.53%

SUBTOTAL

38.95%

Prerefunded/ETM

7.19%

Note/VRDBs


Money Market

2.95%

SUBTOTAL

2.95%

Insured/Guaranteed


Guaranteed

0.92%

SUBTOTAL

0.92%

Total

100.00%



State Breakdown

Portfolio %

New York

17.64%

California

14.97%

Texas

12.79%

Florida

6.95%

Connecticut

5.90%

New Jersey

5.04%

Illinois

4.91%

Pennsylvania

4.90%

Michigan

4.82%

Massachusetts

2.53%

Hawaii

1.73%

Washington

1.56%

North Carolina

1.40%

Colorado

1.28%

Louisiana

1.28%

Tennessee

1.26%

Kentucky

1.23%

Maryland

1.05%

South Carolina

1.02%

Ohio

0.93%

Alabama

0.90%

District of Columbia

0.83%

Oregon

0.82%

Indiana

0.78%

Georgia

0.77%

Arizona

0.68%

Mississippi

0.55%

Minnesota

0.44%

Arkansas

0.32%

Missouri

0.30%

Oklahoma

0.26%

Wisconsin

0.16%

Total Investments

100.00%



Credit Quality Breakdown

Portfolio %

AAA

12.17%

AA

50.66%

A

18.33%

BBB

10.61%

B

0.28%

Not Rated

0.76%

Pre-refunded Bonds

7.19%

Total Investments

100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

0.00%

1 to 5 years

0.89%

5 to 10 years

10.67%

10 to 20 years

69.35%

20 to 30 years

19.09%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percentage:

9.55%

Average Coupon:

5.35%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.60%

Auction Preferred Shares (APS):

13.78%

Tender Option Bonds:

6.82%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

21.10%

Total Fund Leverage:

42.30%*

Average Effective Maturity:

6.45 Years

Effective Duration:

5.75 Years

Total Net Assets:

$540.21 Million**

Common Stock Net Asset Value:

$15.59

Number of Holdings:

168

Portfolio Turnover:

24%



* The total percentage of leverage constitutes 6.82% through the use of tender option bonds, 13.78% in issued and outstanding APS, 21.10% in issued and outstanding VMTPs and 0.60% 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-300290028.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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