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

2.26%

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

2.15%

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

1.72%

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

1.68%

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

1.48%

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

1.47%

8) City of Orlando FL    Series 2014A  5.00%, 11/01/44 (Prerefunded/ETM)

1.35%

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

1.34%

10) Port Authority of New York & New Jersey    Series 2014-186  5.00%, 10/15/44

1.33%




Sector/Industry Breakdown


Portfolio %

Revenue



Airport


9.95%

Health Care - Not-for-Profit


9.77%

Toll Roads/Transit


9.09%

Electric Utility


5.10%

Higher Education - Public


4.00%

Revenue - Miscellaneous


3.87%

Water & Sewer


3.66%

Port


1.51%

Higher Education - Private


1.31%

Prepay Energy


0.70%

Primary/Secondary Ed. - Public


0.56%

Senior Living


0.31%

SUBTOTAL


49.83%

Tax Supported



Special Tax


18.11%

State G.O.


8.05%

Local G.O.


6.84%

Tax-Supported State Lease


3.08%

Tax-Supported Local Lease


1.16%

SUBTOTAL


37.24%

Prerefunded/ETM


11.51%

Insured/Guaranteed



Guaranteed


0.80%

SUBTOTAL


0.80%

Cash Equivalents



Investment Companies


0.35%

SUBTOTAL


0.35%

Asset-Backed



Housing - Multi-Family


0.27%

SUBTOTAL


0.27%

Total


100.00%




State Breakdown


Portfolio %

New York


15.87%

California


13.83%

Texas


8.59%

Illinois


8.07%

Pennsylvania


7.18%

Connecticut


6.99%

Florida


6.03%

New Jersey


5.60%

Michigan


5.43%

Massachusetts


2.57%

Alabama


2.36%

South Carolina


1.88%

Hawaii


1.78%

Washington


1.59%

Kentucky


1.42%

North Carolina


1.28%

Tennessee


1.21%

Colorado


1.14%

Maryland


1.08%

District of Columbia


1.02%

Oregon


0.83%

Georgia


0.80%

Utah


0.75%

Arizona


0.70%

Minnesota


0.46%

Arkansas


0.33%

Ohio


0.30%

Oklahoma


0.27%

Indiana


0.20%

Wisconsin


0.09%

Other


0.35%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


7.81%

AA


39.83%

A


27.18%

BBB


11.88%

BB


0.36%

B


0.27%

D


0.00%

Not Rated


0.81%

Pre-refunded Bonds


11.51%

Short-Term Investments


0.35%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.35%

1 to 5 years


1.08%

5 to 10 years


8.63%

10 to 20 years


65.12%

20 to 30 years


24.25%

More Than 30 years


0.52%

Other


0.05%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


9.79%

Average Coupon:


5.16%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.00%

Auction Preferred Shares (APS):


14.44%

Tender Option Bonds:


4.11%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

22.12%

Total Fund Leverage:


40.67%*

Average Effective Maturity:


5.93  Years

Effective Duration:


5.17  Years

Total Net Assets:


$505.30 Million**

Common Stock Net Asset Value:


$14.37

Number of Holdings:


171

Portfolio Turnover:


11%

 

* The total percentage of leverage constitutes 4.11% through the use of tender option bonds, 14.44% in issued and outstanding APS,22.12% 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-300634755.html

SOURCE AllianceBernstein L.P.