AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, May 25, 2018 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of April 30,2018.
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 | 2.46% | |
2) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 | 2.20% | |
3) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 | 2.08% | |
4) Central Plains Energy Project (Goldman Sachs Group, Inc. (The)) Series 2017A 5.00%, 9/01/42 | 1.73% | |
5) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 | 1.67% | |
6) Jefferson County Board of Education/AL Series 2018 5.00%, 2/01/46 | 1.63% | |
7) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 | 1.44% | |
8) City of New York NY Series 2012I 5.00%, 8/01/28 | 1.43% | |
9) Chicago O'Hare International Airport Series 2016B 5.00%, 1/01/41 | 1.29% | |
10) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 | 1.28% | |
Sector/Industry Breakdown | Portfolio % | |
Revenue | ||
Health Care - Not-for-Profit | 11.64% | |
Airport | 9.66% | |
Toll Roads/Transit | 7.58% | |
Electric Utility | 5.86% | |
Higher Education - Public | 3.89% | |
Revenue - Miscellaneous | 3.76% | |
Water & Sewer | 3.56% | |
Prepay Energy | 2.42% | |
Port | 1.46% | |
Higher Education - Private | 1.13% | |
Primary/Secondary Ed. - Public | 0.54% | |
Senior Living | 0.26% | |
SUBTOTAL | 51.76% | |
Tax Supported | ||
Special Tax | 17.58% | |
State G.O. | 7.84% | |
Local G.O. | 6.65% | |
Tax-Supported State Lease | 3.00% | |
Tax-Supported Local Lease | 1.13% | |
SUBTOTAL | 36.20% | |
Prerefunded/ETM | 9.88% | |
Cash Equivalents | ||
Investment Companies | 1.12% | |
SUBTOTAL | 1.12% | |
Insured/Guaranteed | ||
Guaranteed | 0.78% | |
SUBTOTAL | 0.78% | |
Asset-Backed | ||
Housing - Multi-Family | 0.26% | |
SUBTOTAL | 0.26% | |
Total | 100.00% | |
State Breakdown | Portfolio % | |
New York | 15.41% | |
California | 13.45% | |
Pennsylvania | 8.72% | |
Texas | 8.30% | |
Illinois | 7.02% | |
Connecticut | 6.65% | |
New Jersey | 5.44% | |
Florida | 5.29% | |
Michigan | 5.29% | |
Massachusetts | 2.49% | |
Alabama | 2.29% | |
South Carolina | 1.99% | |
Hawaii | 1.73% | |
Nebraska | 1.73% | |
Washington | 1.54% | |
Kentucky | 1.37% | |
North Carolina | 1.24% | |
Tennessee | 1.18% | |
Colorado | 1.10% | |
Maryland | 1.05% | |
District of Columbia | 0.99% | |
Oregon | 0.80% | |
Georgia | 0.77% | |
Utah | 0.74% | |
Arizona | 0.68% | |
Minnesota | 0.45% | |
Arkansas | 0.32% | |
Ohio | 0.29% | |
Oklahoma | 0.27% | |
Indiana | 0.20% | |
Wisconsin | 0.09% | |
Other | 1.12% | |
Total Investments | 100.00% | |
Credit Quality Breakdown | Portfolio % | |
AAA | 7.60% | |
AA | 37.86% | |
A | 30.63% | |
BBB | 11.51% | |
BB | 0.35% | |
B | 0.26% | |
D | 0.00% | |
Not Rated | 0.79% | |
Pre-refunded Bonds | 9.88% | |
Short-Term Investments | 1.12% | |
Total Investments | 100.00% | |
Bonds By Maturity | Portfolio % | |
Less than 1 year | 1.12% | |
1 to 5 years | 1.05% | |
5 to 10 years | 8.38% | |
10 to 20 years | 62.74% | |
20 to 30 years | 25.02% | |
More Than 30 years | 1.69% | |
Other | 0.00% | |
Total Investments | 100.00% | |
Portfolio Statistics: | ||
AMT Percent: | 9.80% | |
Average Coupon: | 5.27% | |
Percentage of Leverage: | ||
Bank Borrowing: | 0.00% | |
Investment Operations: | 2.32% | |
Auction Preferred Shares (APS): | 14.45% | |
Tender Option Bonds: | 4.11% | |
Variable Rate MuniFund Term Preferred Shares (VMTPs): | 22.14% | |
Total Fund Leverage: | 43.02%* | |
Average Effective Maturity: | 6.37 Years | |
Effective Duration: | 5.46 Years | |
Total Net Assets: | $500.41 Million** | |
Common Stock Net Asset Value: | $14.20 | |
Number of Holdings: | 171 | |
Portfolio Turnover: | 11% | |
* The total percentage of leverage constitutes 4.11% through the use of tender option bonds, 14.45% in issued and outstanding APS,22.14% in issued and outstanding VMTPs and 2.320% 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, Inc.