AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, July 27, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of June 30,2020.

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

2.48%

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

2.25%

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

2.03%

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

1.99%

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

1.74%

6) Wisconsin Public Finance Authority(CHF - Wilmington LLC)  AGM    5.00%, 7/01/58

1.69%

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

1.67%

8) Detroit Downtown Development Authority  AGM  Series 2018A  5.00%, 7/01/48

1.65%

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

1.52%

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

1.48%



Sector/Industry Breakdown

Portfolio %

Revenue


Health Care - Not-for-Profit

19.83%

Airport

8.89%

Toll Roads/Transit

6.99%

Electric Utility

4.90%

Revenue - Miscellaneous

4.69%

Water & Sewer

3.04%

Prepay Energy

2.67%

Tobacco Securitization

1.52%

Higher Education - Public

1.08%

Higher Education - Private

0.74%

Port

0.71%

Industrial Development - Utility

0.47%

Primary/Secondary Ed. - Public

0.27%

Senior Living

0.24%

Industrial Development - Industry

0.18%

SUBTOTAL

56.22%

Tax Supported


Special Tax

18.41%

State G.O.

7.65%

Local G.O.

3.32%

Tax-Supported State Lease

2.33%

Assessment District

2.15%

Tax-Supported Local Lease

0.57%

SUBTOTAL

34.43%

Prerefunded/ETM

7.57%

Insured/Guaranteed


Guaranteed

0.79%

SUBTOTAL

0.79%

Cash Equivalents


Investment Companies

0.68%

SUBTOTAL

0.68%

Collateralized Mortgage Obligations

0.31%

Total

100.00%



State Breakdown

Portfolio %

New York

11.58%

California

10.82%

Illinois

9.85%

Pennsylvania

7.83%

New Jersey

7.70%

Connecticut

5.62%

Florida

5.48%

Texas

4.69%

Michigan

3.94%

South Carolina

3.13%

Alabama

2.46%

Massachusetts

2.43%

Nebraska

1.99%

Colorado

1.86%

Oklahoma

1.79%

Wisconsin

1.69%

North Carolina

1.58%

Minnesota

1.50%

Tennessee

1.31%

Utah

1.21%

Hawaii

1.15%

Georgia

1.10%

Maryland

1.08%

Ohio

1.02%

District of Columbia

1.00%

Guam

0.87%

Kansas

0.86%

Kentucky

0.82%

Arizona

0.68%

West Virginia

0.66%

Puerto Rico

0.50%

Arkansas

0.33%

Indiana

0.20%

Iowa

0.18%

Louisiana

0.17%

New Hampshire

0.13%

Oregon

0.11%

Other

0.68%

Total Investments

100.00%



Credit Quality Breakdown

Portfolio %

AAA

6.08%

AA

28.82%

A

37.08%

BBB

17.08%

BB

1.69%

D

0.27%

Not Rated

0.73%

Pre-refunded Bonds

7.57%

Short-Term Investments

0.68%

Total Investments

100.00%



Bonds By Maturity

Portfolio %

Less than 1 year

0.68%

1 to 5 years

1.06%

5 to 10 years

18.39%

10 to 20 years

41.36%

20 to 30 years

33.98%

More Than 30 years

4.53%

Other

0.00%

Total Investments

100.00%



Portfolio Statistics:


AMT Percent:

10.30%

Average Coupon:

5.12%

Percentage of Leverage:


Bank Borrowing:

0.00%

Investment Operations:

0.00%

Auction Preferred Shares (APS):

0.00%

Tender Option Bonds:

4.03%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

35.70%

Total Fund Leverage:

39.73%*

Average Effective Maturity:

5.40  Years

Effective Duration:

4.76  Years

Total Net Assets:

$428.26 Million**

Common Stock Net Asset Value:

$14.52

Number of Holdings:

169

Portfolio Turnover:

14%



* The total percentage of leverage constitutes 4.03% through the use of tender option bonds, 35.70%  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.


** The Fund also had outstanding $232,125,000 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-301100373.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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