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AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

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AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

PR Newswire

NEW YORK, July 23, 2018 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) (the "Fund") today released its monthly portfolio update as of June 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

2.52%







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

2.13%







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

1.81%







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

1.71%







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

1.68%







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

1.49%







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

1.48%







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

1.46%







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

1.33%
















Sector/Industry Breakdown


Portfolio %







Revenue









Health Care - Not-for-Profit


12.82%







Airport


9.52%







Toll Roads/Transit


6.63%







Electric Utility


6.00%







Revenue - Miscellaneous


4.12%







Water & Sewer


3.64%







Higher Education - Public


2.60%







Prepay Energy


2.51%







Port


1.51%







Tobacco Securitization


1.49%







Higher Education - Private


0.59%







Senior Living


0.27%







Primary/Secondary Ed. - Public


0.27%







Industrial Development - Industry


0.16%







SUBTOTAL


52.13%







Tax Supported









Special Tax


18.02%







State G.O.


7.86%







Local G.O.


6.82%







Tax-Supported State Lease


3.06%







Tax-Supported Local Lease


1.16%







SUBTOTAL


36.92%







Prerefunded/ETM


10.11%







Insured/Guaranteed









Guaranteed


0.80%







SUBTOTAL


0.80%







Cash Equivalents









Investment Companies


0.04%







SUBTOTAL


0.04%







Total


100.00%
















State Breakdown


Portfolio %







New York


15.63%







California


13.91%







Pennsylvania


8.98%







New Jersey


7.07%







Texas


6.96%







Illinois


6.28%







Connecticut


6.27%







Florida


5.43%







Michigan


5.39%







Massachusetts


2.54%







Alabama


2.36%







South Carolina


2.03%







Nebraska


1.81%







Washington


1.57%







Hawaii


1.53%







Kentucky


1.41%







Tennessee


1.21%







Colorado


1.14%







Maryland


1.08%







District of Columbia


1.02%







Kansas


0.84%







Oregon


0.82%







Georgia


0.80%







Utah


0.76%







North Carolina


0.73%







Arizona


0.70%







Minnesota


0.34%







Arkansas


0.33%







Ohio


0.30%







Oklahoma


0.27%







Indiana


0.20%







Iowa


0.16%







Wisconsin


0.09%







Other


0.04%







Total Investments


100.00%
















Credit Quality Breakdown


Portfolio %







AAA


7.78%







AA


36.01%







A


32.74%







BBB


11.60%







BB


0.49%







B


0.43%







D


0.00%







Not Rated


0.80%







Pre-refunded Bonds


10.11%







Short-Term Investments


0.04%







Total Investments


100.00%
















Bonds By Maturity


Portfolio %







Less than 1 year


0.04%







1 to 5 years


1.07%







5 to 10 years


9.38%







10 to 20 years


59.75%







20 to 30 years


27.02%







More Than 30 years


2.74%







Other


0.00%







Total Investments


100.00%
















Portfolio Statistics:









AMT Percent:


9.73%







Average Coupon:


5.17%







Percentage of Leverage:









Bank Borrowing:


0.00%







Investment Operations:


0.00%







Auction Preferred Shares (APS):


14.42%







Tender Option Bonds:


4.10%







Variable Rate MuniFund Term Preferred Shares (VMTPs):

22.09%







Total Fund Leverage:


40.61%*







Average Effective Maturity:


6.11  Years







Effective Duration:


5.27  Years







Total Net Assets:


$505.44 Million**







Common Stock Net Asset Value:


$14.38







Number of Holdings:


164







Portfolio Turnover:


11%
















* The total percentage of leverage constitutes 4.10% through the use of tender option bonds, 14.42% in issued and outstanding APS,22.09%  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.

 

 

Cision View original content:http://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-releases-monthly-portfolio-update-300684972.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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