AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

PR Newswire

NEW YORK, Oct. 22, 2018 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. AFB (the "Fund") today released its monthly portfolio update as of September 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

2.50%































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

2.27%































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

2.12%































4) Central Plains Energy Project  (Goldman Sachs Group Inc/The)  Series 2017A  5.00%, 9/01/42

1.75%































5) Los Angeles Department of Water & Power Power System Revenue    Series 2013B  5.00%, 7/01/30

1.70%































6) Jefferson County Board of Education/AL    Series 2018  5.00%, 2/01/46

1.66%































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

1.47%































8) Tobacco Settlement Financing Corp./NJ    Series 2018A  5.00%, 6/01/46

1.46%































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

1.45%































10) Chicago O'Hare International Airport    Series 2016B  5.00%, 1/01/41

1.32%



































































Sector/Industry Breakdown



Portfolio %































Revenue



































Health Care - Not-for-Profit



13.97%































Airport



9.46%































Toll Roads/Transit



6.60%































Electric Utility



5.95%































Revenue - Miscellaneous



4.14%































Water & Sewer



3.63%































Prepay Energy



2.45%































Higher Education - Public



1.83%































Port



1.49%































Tobacco Securitization



1.46%































Higher Education - Private



0.59%































Senior Living



0.27%































Primary/Secondary Ed. - Public



0.27%































Industrial Development - Industry



0.19%































SUBTOTAL



52.30%































Tax Supported



































Special Tax



17.94%































State G.O.



7.85%































Local G.O.



6.78%































Tax-Supported State Lease



3.08%































Tax-Supported Local Lease



1.15%































SUBTOTAL



36.80%































Prerefunded/ETM



10.07%































Insured/Guaranteed



































Guaranteed



0.79%































SUBTOTAL



0.79%































Cash Equivalents



































Investment Companies



0.04%































SUBTOTAL



0.04%































Total



100.00%



































































State Breakdown



Portfolio %































New York



15.51%































California



13.08%































Pennsylvania



9.69%































New Jersey



7.07%































Texas



6.93%































Connecticut



6.26%































Illinois



6.26%































Michigan



5.43%































Florida



5.39%































Massachusetts



2.53%































Alabama



2.33%































South Carolina



2.01%































Nebraska



1.75%































Washington



1.57%































Hawaii



1.52%































Kentucky



1.41%































Tennessee



1.20%































Colorado



1.13%































Maryland



1.08%































District of Columbia



1.01%































Kansas



0.83%































Oregon



0.82%































Minnesota



0.80%































Georgia



0.79%































Utah



0.75%































North Carolina



0.73%































Arizona



0.70%































Arkansas



0.33%































Ohio



0.30%































Oklahoma



0.27%































Indiana



0.20%































Iowa



0.19%































Wisconsin



0.09%































Other



0.04%































Total Investments



100.00%



































































Credit Quality Breakdown



Portfolio %































AAA



11.11%































AA



33.36%































A



32.07%































BBB



11.54%































BB



0.48%































B



0.47%































D



0.00%































Not Rated



0.86%































Pre-refunded Bonds



10.07%































Short-Term Investments



0.04%































Total Investments



100.00%



































































Bonds By Maturity



Portfolio %































Less than 1 year



0.04%































1 to 5 years



1.05%































5 to 10 years



10.80%































10 to 20 years



57.46%































20 to 30 years



29.66%































More Than 30 years



0.99%































Other



0.00%































Total Investments



100.00%



































































Portfolio Statistics:



































AMT Percent:



9.70%































Average Coupon:



5.18%































Percentage of Leverage:



































Bank Borrowing:



0.00%































Investment Operations:



0.48%































Auction Preferred Shares (APS):



14.61%































Tender Option Bonds:



4.15%































Variable Rate MuniFund Term Preferred Shares (VMTPs):

22.38%































Total Fund Leverage:



41.62%*































Average Effective Maturity:



5.98  Years































Effective Duration:



5.16  Years































Total Net Assets:



$497.64 Million**































Common Stock Net Asset Value:



$14.11































Number of Holdings:



165































Portfolio Turnover:



11%



































































* The total percentage of leverage constitutes 4.15% through the use of tender option bonds, 14.61% in issued and outstanding APS,22.38%  in issued and outstanding VMTPs and 0.480% 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.























































 

Cision View original content:http://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-releases-monthly-portfolio-update-300735417.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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