AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Montag, 28.11.2016 22:10 von

PR Newswire

NEW YORK, Nov. 28, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of October 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

2.50%



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

2.31%



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

2.16%



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

1.73%



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

1.48%



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

1.47%



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

1.35%



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

1.32%



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

1.26%



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

1.26%







Sector/Industry Breakdown

Portfolio %



Revenue




Toll Roads/Transit

11.06%



Health Care - Not-for-Profit

9.38%



Airport

7.53%



Water & Sewer

5.74%



Higher Education - Public

4.73%



Revenue - Miscellaneous

4.08%



Electric Utility

4.06%



Port

0.80%



Prepay Energy

0.70%



Higher Education - Private

0.58%



Primary/Secondary Ed. - Public

0.57%



Senior Living

0.42%



SUBTOTAL

49.65%



Tax Supported




Special Tax

19.45%



State G.O.

7.33%



Local G.O.

6.64%



Tax-Supported Local Lease

3.00%



Tax-Supported State Lease

2.59%



SUBTOTAL

39.01%



Prerefunded/ETM

8.96%



Cash Equivalents




Investment Companies

0.81%



SUBTOTAL

0.81%



Insured/Guaranteed




Guaranteed

0.79%



SUBTOTAL

0.79%



Note/VRDBs




Money Market

0.78%



SUBTOTAL

0.78%



Total

100.00%







State Breakdown

Portfolio %



New York

17.70%



California

16.11%



Texas

10.26%



Florida

7.63%



Connecticut

6.00%



Pennsylvania

5.66%



Michigan

5.42%



New Jersey

5.32%



Illinois

4.96%



Massachusetts

2.58%



Hawaii

1.75%



Washington

1.58%



North Carolina

1.41%



Kentucky

1.25%



Colorado

1.23%



Tennessee

1.19%



Louisiana

1.13%



Maryland

1.06%



District of Columbia

1.01%



Alabama

0.91%



Oregon

0.83%



South Carolina

0.80%



Georgia

0.78%



Arizona

0.70%



Indiana

0.47%



Minnesota

0.45%



Arkansas

0.32%



Missouri

0.30%



Oklahoma

0.27%



Wisconsin

0.10%



Ohio

0.01%



Other

0.81%



Total Investments

100.00%







Credit Quality Breakdown

Portfolio %



AAA

9.19%



AA

48.21%



A

19.20%



BBB

11.44%



BB

0.27%



B

0.29%



Not Rated

0.84%



Pre-refunded Bonds

8.96%



Short Term Investments

1.60%



Total Investments

100.00%







Bonds By Maturity

Portfolio %



Less than 1 year

1.77%



1 to 5 years

1.34%



5 to 10 years

7.99%



10 to 20 years

69.32%



20 to 30 years

19.58%



More than 30 years

0.00%



Other

0.00%



Total Investments

100.00%







Portfolio Statistics:




AMT Percentage:

8.80%



Average Coupon:

5.19%



Percentage of Leverage:




Bank Borrowing:

0.00%



Investment Operations:

0.83%



Auction Preferred Shares (APS):

13.86%



Tender Option Bonds:

4.68%



Variable Rate MuniFund Term Preferred Shares (VMTPs):

21.23%



Total Fund Leverage:

40.60%*



Average Effective Maturity:

7.04 Years



Effective Duration:

5.43 Years



Total Net Assets:

$533.64 Million**



Common Stock Net Asset Value:

$15.36



Number of Holdings:

172



Portfolio Turnover:

24%







* The total percentage of leverage constitutes 4.68% through the use




of tender option bonds, 13.86% in issued and outstanding APS,




21.23% in issued and outstanding VMTPs and 0.83% 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.




 

 

 

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SOURCE AllianceBernstein National Municipal Income Fund