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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, Aug. 24, 2018 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.(NYSE:AFB) (the "Fund") today released its monthly portfolio update as of July 31, 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

2.51%

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

2.26%

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

1.78%

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

1.71%

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

1.67%

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

1.48%

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

1.47%

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

1.32%




Sector/Industry Breakdown


Portfolio %

Revenue



Health Care - Not-for-Profit


12.76%

Airport


9.49%

Toll Roads/Transit


6.61%

Electric Utility


5.98%

Revenue - Miscellaneous


4.12%

Water & Sewer


3.63%

Higher Education - Public


2.59%

Prepay Energy


2.48%

Port


1.50%

Tobacco Securitization


1.48%

Higher Education - Private


0.59%

Senior Living


0.27%

Primary/Secondary Ed. - Public


0.27%

Industrial Development - Industry


0.19%

SUBTOTAL


51.96%

Tax Supported



Special Tax


17.98%

State G.O.


7.88%

Local G.O.


6.79%

Tax-Supported State Lease


3.07%

Tax-Supported Local Lease


1.16%

SUBTOTAL


36.88%

Prerefunded/ETM


10.09%

Insured/Guaranteed



Guaranteed


0.80%

SUBTOTAL


0.80%

Cash Equivalents



Investment Companies


0.27%

SUBTOTAL


0.27%

Total


100.00%




State Breakdown


Portfolio %

New York


15.60%

California


13.88%

Pennsylvania


8.93%

New Jersey


7.09%

Texas


6.94%

Illinois


6.29%

Connecticut


6.26%

Florida


5.41%

Michigan


5.38%

Massachusetts


2.53%

Alabama


2.34%

South Carolina


2.02%

Nebraska


1.78%

Washington


1.57%

Hawaii


1.53%

Kentucky


1.41%

Tennessee


1.20%

Colorado


1.14%

Maryland


1.08%

District of Columbia


1.01%

Kansas


0.83%

Oregon


0.82%

Georgia


0.79%

Utah


0.75%

North Carolina


0.73%

Arizona


0.70%

Minnesota


0.34%

Arkansas


0.33%

Ohio


0.30%

Oklahoma


0.27%

Indiana


0.20%

Iowa


0.19%

Wisconsin


0.09%

Other


0.27%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


11.16%

AA


32.52%

A


32.60%

BBB


11.61%

BB


0.49%

B


0.46%

D


0.00%

Not Rated


0.80%

Pre-refunded Bonds


10.09%

Short-Term Investments


0.27%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.27%

1 to 5 years


1.07%

5 to 10 years


9.36%

10 to 20 years


59.75%

20 to 30 years


27.81%

More Than 30 years


1.74%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


9.77%

Average Coupon:


5.14%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.00%

Auction Preferred Shares (APS):


14.40%

Tender Option Bonds:


4.10%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

22.06%

Total Fund Leverage:


40.56%*

Average Effective Maturity:


6.02  Years

Effective Duration:


5.18  Years

Total Net Assets:


$505.03 Million**

Common Stock Net Asset Value:


$14.36

Number of Holdings:


164

Portfolio Turnover:


11%


* The total percentage of leverage constitutes 4.10% through the use of tender option bonds, 14.40% in issued and outstanding APS, 22.06% 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-300702198.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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