AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update - wistv.com - Columbia, South Carolina

AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

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SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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

 

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

2.49%

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

2.33%

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

2.19%

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

1.49%

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

1.39%

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

1.37%

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

1.30%

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

1.28%




Sector/Industry Breakdown


Portfolio %

Revenue



Toll Roads/Transit


10.98%

Health Care - Not-for-Profit


9.15%

Airport


8.71%

Water & Sewer


5.81%

Higher Education - Public


4.79%

Revenue - Miscellaneous


4.22%

Electric Utility


4.07%

Port


0.80%

Prepay Energy


0.70%

Higher Education - Private


0.58%

Primary/Secondary Ed. - Public


0.57%

Senior Living


0.42%

SUBTOTAL


50.80%

Tax Supported



Special Tax


17.38%

State G.O.


7.27%

Local G.O.


6.42%

Tax-Supported Local Lease


2.82%

Tax-Supported State Lease


2.58%

SUBTOTAL


36.47%

Prerefunded/ETM


11.62%

Insured/Guaranteed



Guaranteed


0.80%

SUBTOTAL


0.80%

Cash Equivalents



Investment Companies


0.31%

SUBTOTAL


0.31%

Total


100.00%




State Breakdown


Portfolio %

New York


17.82%

California


15.37%

Texas


10.23%

Florida


7.17%

Illinois


6.28%

Connecticut


6.02%

Pennsylvania


5.64%

Michigan


5.47%

New Jersey


5.23%

Massachusetts


2.61%

Hawaii


1.75%

Washington


1.62%

Kentucky


1.41%

North Carolina


1.41%

Colorado


1.25%

Louisiana


1.17%

Tennessee


1.15%

Maryland


1.07%

District of Columbia


1.02%

Alabama


0.94%

Oregon


0.85%

South Carolina


0.80%

Georgia


0.79%

Arizona


0.70%

Indiana


0.46%

Minnesota


0.45%

Arkansas


0.32%

Missouri


0.31%

Oklahoma


0.27%

Wisconsin


0.11%

Ohio


0.00%

Other


0.31%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


9.30%

AA


45.93%

A


20.06%

BBB


11.39%

BB


0.27%

B


0.30%

Not Rated


0.82%

Pre-refunded Bonds


11.62%

Short-Term Investments


0.31%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.69%

1 to 5 years


0.90%

5 to 10 years


9.27%

10 to 20 years


68.66%

20 to 30 years


20.48%

More Than 30 years


0.00%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


9.93%

Average Coupon:


5.17%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.00%

Auction Preferred Shares (APS):


14.37%

Tender Option Bonds:


4.86%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

22.01%

Total Fund Leverage:


41.24%*

Average Effective Maturity:


7.14  Years

Effective Duration:


5.46  Years

Total Net Assets:


$508.67 Million**

Common Stock Net Asset Value:


$14.49

Number of Holdings:


174

Portfolio Turnover:


14%




* The total percentage of leverage constitutes 4.86% through the use of tender option bonds, 14.37% in issued and outstanding APS,22.01%  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.

 

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