AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Sept. 21, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of August 31,2020.

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

2.45%

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

2.22%

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

2.02%

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

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

1.68%

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

1.64%

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

1.63%

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

1.53%

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

1.49%




Sector/Industry Breakdown


Portfolio %

Revenue



Health Care - Not-for-Profit


20.89%

Airport


8.08%

Toll Roads/Transit


6.97%

Electric Utility


4.86%

Revenue - Miscellaneous


4.74%

Water & Sewer


3.00%

Prepay Energy


2.70%

Tobacco Securitization


1.53%

Higher Education - Public


1.07%

Primary/Secondary Ed. - Public


0.93%

Higher Education - Private


0.74%

Port


0.71%

Industrial Development - Utility


0.47%

Senior Living


0.24%

Industrial Development - Industry


0.18%

SUBTOTAL


57.11%

Tax Supported



Special Tax


17.91%

State G.O.


7.68%

Local G.O.


3.31%

Tax-Supported State Lease


2.37%

Assessment District


2.12%

Tax-Supported Local Lease


0.56%

SUBTOTAL


33.95%

Prerefunded/ETM


7.32%

Insured/Guaranteed



Guaranteed


0.78%

SUBTOTAL


0.78%

Cash Equivalents



Investment Companies


0.53%

SUBTOTAL


0.53%

Asset-Backed



Housing - Multi-Family


0.31%

SUBTOTAL


0.31%

Total


100.00%




State Breakdown


Portfolio %

New York


12.54%

California


10.68%

Illinois


9.98%

New Jersey


7.72%

Pennsylvania


7.32%

Connecticut


5.55%

Florida


5.45%

Texas


4.66%

Michigan


3.89%

South Carolina


3.13%

Alabama


2.44%

Massachusetts


2.39%

Nebraska


2.02%

Colorado


1.85%

Oklahoma


1.77%

Wisconsin


1.68%

North Carolina


1.60%

Minnesota


1.49%

Tennessee


1.37%

Arizona


1.33%

Utah


1.19%

Georgia


1.09%

Maryland


1.09%

Ohio


1.03%

District of Columbia


0.99%

Guam


0.86%

Kansas


0.86%

Kentucky


0.83%

West Virginia


0.67%

Puerto Rico


0.50%

Hawaii


0.41%

Arkansas


0.32%

Indiana


0.19%

Iowa


0.18%

Louisiana


0.17%

New Hampshire


0.13%

Oregon


0.10%

Other


0.53%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


5.61%

AA


28.84%

A


37.61%

BBB


17.38%

BB


1.70%

D


0.27%

Not Rated


0.74%

Pre-refunded Bonds


7.32%

Short-Term Investments


0.53%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.53%

1 to 5 years


1.05%

5 to 10 years


22.10%

10 to 20 years


36.26%

20 to 30 years


35.05%

More Than 30 years


5.01%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


10.20%

Average Coupon:


5.05%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.00%

Auction Preferred Shares (APS):


0.00%

Tender Option Bonds:


3.98%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

35.22%

Total Fund Leverage:


39.20%*

Average Effective Maturity:


5.30  Years

Effective Duration:


4.71  Years

Total Net Assets:


$435.61 Million**

Common Stock Net Asset Value:


$15.15

Number of Holdings:


171

Portfolio Turnover:


14%




* The total percentage of leverage constitutes 3.98% through the use of tender option bonds, 35.22%  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-301134930.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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