ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. NEW YORK, Jan. 28, 2019 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of December 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 | 2.53% | |
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 | 1.72% | |
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 | 1.68% | |
7) Wisconsin Public Finance Authority(CHF - Wilmington LLC) AGM 5.00%, 7/01/58 | 1.61% | |
8) Detroit Downtown Development Authority AGM Series 2018A 5.00%, 7/01/48 | 1.60% | |
9) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 | 1.48% | |
10) Tobacco Settlement Financing Corp./NJ Series 2018A 5.00%, 6/01/46 | 1.42% | |
Sector/Industry Breakdown | Portfolio % | |
Revenue | ||
Health Care - Not-for-Profit | 16.96% | |
Airport | 9.71% | |
Toll Roads/Transit | 7.40% | |
Electric Utility | 4.68% | |
Revenue - Miscellaneous | 4.67% | |
Water & Sewer | 3.11% | |
Prepay Energy | 2.42% | |
Higher Education - Public | 1.82% | |
Port | 1.50% | |
Tobacco Securitization | 1.42% | |
Industrial Development - Utility | 1.06% | |
Higher Education - Private | 0.59% | |
Primary/Secondary Ed. - Public | 0.27% | |
Senior Living | 0.26% | |
Industrial Development - Industry | 0.19% | |
SUBTOTAL | 56.06% | |
Tax Supported | ||
Special Tax | 18.01% | |
State G.O. | 6.63% | |
Local G.O. | 3.39% | |
Tax-Supported State Lease | 3.06% | |
Assessment District | 2.08% | |
Tax-Supported Local Lease | 0.81% | |
SUBTOTAL | 33.98% | |
Prerefunded/ETM | 9.06% | |
Insured/Guaranteed | ||
Guaranteed | 0.79% | |
SUBTOTAL | 0.79% | |
Cash Equivalents | ||
Investment Companies | 0.11% | |
SUBTOTAL | 0.11% | |
Total | 100.00% | |
State Breakdown | Portfolio % | |
California | 12.74% | |
New York | 11.93% | |
Pennsylvania | 7.78% | |
Michigan | 7.47% | |
Illinois | 7.32% | |
New Jersey | 7.02% | |
Texas | 6.23% | |
Connecticut | 5.44% | |
Florida | 4.26% | |
South Carolina | 2.98% | |
Massachusetts | 2.53% | |
Alabama | 2.35% | |
Nebraska | 1.72% | |
Wisconsin | 1.61% | |
North Carolina | 1.55% | |
Oklahoma | 1.45% | |
Minnesota | 1.44% | |
Washington | 1.39% | |
Tennessee | 1.21% | |
Hawaii | 1.20% | |
Utah | 1.17% | |
Colorado | 1.13% | |
Maryland | 1.09% | |
District of Columbia | 1.01% | |
Kentucky | 0.97% | |
Georgia | 0.91% | |
Kansas | 0.84% | |
Oregon | 0.81% | |
Arizona | 0.70% | |
West Virginia | 0.63% | |
Arkansas | 0.33% | |
Ohio | 0.29% | |
Indiana | 0.20% | |
Iowa | 0.19% | |
Other | 0.11% | |
Total Investments | 100.00% | |
Credit Quality Breakdown | Portfolio % | |
AAA | 7.92% | |
AA | 32.15% | |
A | 36.54% | |
BBB | 12.44% | |
BB | 0.48% | |
B | 0.47% | |
D | 0.00% | |
Not Rated | 0.83% | |
Pre-refunded Bonds | 9.06% | |
Short-Term Investments | 0.11% | |
Total Investments | 100.00% | |
Bonds By Maturity | Portfolio % | |
Less than 1 year | 0.11% | |
1 to 5 years | 1.77% | |
5 to 10 years | 10.13% | |
10 to 20 years | 48.79% | |
20 to 30 years | 35.46% | |
More Than 30 years | 3.74% | |
Other | 0.00% | |
Total Investments | 100.00% | |
Portfolio Statistics: | ||
AMT Percent: | 10.95% | |
Average Coupon: | 5.10% | |
Percentage of Leverage: | ||
Bank Borrowing: | 0.00% | |
Investment Operations: | 0.00% | |
Auction Preferred Shares (APS): | 0.43% | |
Tender Option Bonds: | 4.13% | |
Variable Rate MuniFund Term Preferred Shares (VMTPs): | 36.18% | |
Total Fund Leverage: | 40.74%* | |
Average Effective Maturity: | 6.00 Years | |
Effective Duration: | 5.13 Years | |
Total Net Assets: | $411.71 Million** | |
Common Stock Net Asset Value: | $14.23 | |
Number of Holdings: | 159 | |
Portfolio Turnover: | 22% |
* The total percentage of leverage constitutes 4.13% through the use of tender option bonds, 0.430% in issued and outstanding APS,36.18% 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 $2,750,000 of APS at liquidation value.The Fund also had outstanding $229,375,000 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.
