ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. NEW YORK, June 24, 2016 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of May 31, 2016.
AllianceBernstein National Municipal Income Fund, Inc.
Top 10 Fixed-Income Holdings Portfolio %
1) Texas Transportation Commission
State Highway Fund 5.00%, 4/01/23 2.95%
2) Wayne State University Series 2009A
5.00%, 11/15/29 2.53%
3) Metropolitan Transportation
Authority (Metropolitan Transportation
Authority Ded Tax) Series 2016A 5.25%,
11/15/35 2.49%
4) State of Connecticut Special Tax
Revenue Series 2012 5.00%, 1/01/29 2.29%
5) Massachusetts School Building
Authority (Massachusetts School
Building Authority Sales Tax) Series
2011B 5.00%, 10/15/32 2.11%
6) Los Angeles Department of Water &
Power PWR Series 2013B 5.00%, 7/01/30 1.68%
7) City of New York NY Series 2012I
5.00%, 8/01/28 1.45%
8) Miami Beach Health Facilities
Authority (Mount Sinai Medical Center
of Florida, Inc.) Series 2014 5.00%,
11/15/39 1.44%
9) Port Authority of New York & New
Jersey Series 2014-186 5.00%, 10/15/44 1.27%
10) Pennsylvania Economic Development
Financing Authority (PA Bridges Finco
LP) Series 2015 5.00%, 12/31/38 1.26%
Sector/Industry Breakdown Portfolio %
Revenue
Toll Roads/Transit 10.89%
Health Care - Not-for-Profit 10.03%
Airport 6.29%
Higher Education - Public 5.83%
Water & Sewer 5.62%
Electric Utility 3.98%
Revenue - Miscellaneous 3.68%
Industrial Development - Utility 0.93%
Port 0.80%
Prepay Energy 0.68%
Higher Education - Private 0.57%
Senior Living 0.41%
Primary/Secondary Ed. - Public 0.28%
SUBTOTAL 49.99%
Tax Supported
Special Tax 19.58%
State G.O. 7.26%
Local G.O. 6.63%
Tax-Supported Local Lease 2.95%
Tax-Supported State Lease 2.53%
SUBTOTAL 38.95%
Prerefunded/ETM 7.19%
Note/VRDBs
Money Market 2.95%
SUBTOTAL 2.95%
Insured/Guaranteed
Guaranteed 0.92%
SUBTOTAL 0.92%
Total 100.00%
State Breakdown Portfolio %
New York 17.64%
California 14.97%
Texas 12.79%
Florida 6.95%
Connecticut 5.90%
New Jersey 5.04%
Illinois 4.91%
Pennsylvania 4.90%
Michigan 4.82%
Massachusetts 2.53%
Hawaii 1.73%
Washington 1.56%
North Carolina 1.40%
Colorado 1.28%
Louisiana 1.28%
Tennessee 1.26%
Kentucky 1.23%
Maryland 1.05%
South Carolina 1.02%
Ohio 0.93%
Alabama 0.90%
District of Columbia 0.83%
Oregon 0.82%
Indiana 0.78%
Georgia 0.77%
Arizona 0.68%
Mississippi 0.55%
Minnesota 0.44%
Arkansas 0.32%
Missouri 0.30%
Oklahoma 0.26%
Wisconsin 0.16%
Total Investments 100.00%
Credit Quality Breakdown Portfolio %
AAA 12.17%
AA 50.66%
A 18.33%
BBB 10.61%
B 0.28%
Not Rated 0.76%
Pre-refunded Bonds 7.19%
Total Investments 100.00%
Bonds By Maturity Portfolio %
Less than 1 year 0.00%
1 to 5 years 0.89%
5 to 10 years 10.67%
10 to 20 years 69.35%
20 to 30 years 19.09%
More than 30 years 0.00%
Other 0.00%
Total Investments 100.00%
Portfolio Statistics:
AMT Percentage: 9.55%
Average Coupon: 5.35%
Percentage of Leverage:
Bank Borrowing: 0.00%
Investment Operations: 0.60%
Auction Preferred Shares (APS): 13.78%
Tender Option Bonds: 6.82%
Variable Rate MuniFund Term Preferred
Shares (VMTPs): 21.10%
Total Fund Leverage: 42.30%*
Average Effective Maturity: 6.45 Years
Effective Duration: 5.75 Years
Total Net Assets: $540.21 Million**
Common Stock Net Asset Value: $15.59
Number of Holdings: 168
Portfolio Turnover: 24%
* The total percentage of leverage constitutes 6.82% through the
use of tender option bonds, 13.78% in issued and outstanding
APS, 21.10% in issued and outstanding VMTPs and 0.60% 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.
