AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Jan. 23, 2017 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of December 31,2016.

 

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

2.35%

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

2.18%

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

1.73%

5) City of New York NY    Series 2012I  5.00%, 8/01/28

1.48%

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

1.44%

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

1.40%

8) City of Orlando FL    Series 2014A  5.00%, 11/01/44 (Prerefunded/ETM)

1.37%

9) Chicago O'Hare International Airport    Series 2016C  5.00%, 1/01/36

1.32%

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

1.30%




Sector/Industry Breakdown


Portfolio %

Revenue



Toll Roads/Transit


11.03%

Health Care - Not-for-Profit


9.25%

Airport


8.77%

Water & Sewer


5.80%

Higher Education - Public


4.78%

Electric Utility


4.07%

Revenue - Miscellaneous


3.96%

Port


0.80%

Prepay Energy


0.71%

Higher Education - Private


0.58%

Primary/Secondary Ed. - Public


0.57%

Senior Living


0.42%

SUBTOTAL


50.74%

Tax Supported



Special Tax


17.43%

State G.O.


7.25%

Local G.O.


6.43%

Tax-Supported Local Lease


2.82%

Tax-Supported State Lease


2.76%

SUBTOTAL


36.69%

Prerefunded/ETM


11.68%

Insured/Guaranteed



Guaranteed


0.80%

SUBTOTAL


0.80%

Cash Equivalents



Investment Companies


0.09%

SUBTOTAL


0.09%

Total


100.00%




State Breakdown


Portfolio %

New York


17.84%

California


15.30%

Texas


10.26%

Florida


7.19%

Illinois


6.31%

Connecticut


6.04%

Pennsylvania


5.66%

Michigan


5.52%

New Jersey


5.27%

Massachusetts


2.60%

Hawaii


1.77%

Washington


1.63%

Kentucky


1.41%

North Carolina


1.41%

Colorado


1.26%

Louisiana


1.18%

Tennessee


1.16%

Maryland


1.04%

District of Columbia


1.03%

Alabama


0.95%

Oregon


0.85%

Georgia


0.80%

South Carolina


0.80%

Arizona


0.71%

Minnesota


0.46%

Indiana


0.45%

Arkansas


0.32%

Missouri


0.31%

Oklahoma


0.27%

Wisconsin


0.11%

Ohio


0.00%

Other


0.09%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


9.33%

AA


45.76%

A


20.41%

BBB


11.32%

BB


0.26%

B


0.30%

Not Rated


0.85%

Pre-refunded Bonds


11.68%

Short-Term Investments


0.09%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.27%

1 to 5 years


1.09%

5 to 10 years


9.33%

10 to 20 years


70.16%

20 to 30 years


19.15%

More Than 30 years


0.00%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


4.87%

Average Coupon:


5.18%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.00%

Auction Preferred Shares (APS):


14.48%

Tender Option Bonds:


4.89%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

22.17%

Total Fund Leverage:


41.54%*

Average Effective Maturity:


7.32  Years

Effective Duration:


5.58  Years

Total Net Assets:


$505.24 Million**

Common Stock Net Asset Value:


$14.37

Number of Holdings:


173

Portfolio Turnover:


14%




* The total percentage of leverage constitutes 4.89% through the use of tender option bonds, 14.48% in issued and outstanding APS,22.17%  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 $141,000,000 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-300395070.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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