AB National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, May 24, 2022 /PRNewswire/ -- AB National Municipal Income Fund [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of April 30, 2022.

AB National Municipal Income Fund
Top 10 Fixed-Income Holdings		Portfolio %
1) Metropolitan Transportation Authority Series 2016-2 5.25%, 11/15/35		2.42%
2) State of Connecticut Special Tax Revenue Series 2012-A 5.00%, 01/01/29		2.20%
3) Central Plains Energy Project Series 2017-A 5.00%, 09/01/42		1.71%
4) Jefferson County Board of Education/AL Series 2018 5.00%, 02/01/46		1.70%
5) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58		1.64%
6) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48		1.63%
7) Los Angeles Department of Water & Power Power System Revenue Series 2013-B 5.00%, 07/01/30		1.61%
8) Wisconsin Public Finance Authority Series 2022 5.00%, 02/01/62		1.57%
9) Miami Beach Health Facilities Authority Series 2014 5.00%, 11/15/39		1.50%
10) Tobacco Settlement Financing Corp./NJ Series 2018-A 5.00%, 06/01/46		1.48%
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		21.14%
Airport		7.61%
Toll Roads/Transit		7.56%
Revenue - Miscellaneous		5.56%
Electric Utility		5.19%
Industrial Development - Industry		2.70%
Prepay Energy		2.53%
Higher Education - Private		2.29%
Tobacco Securitization		2.25%
Water & Sewer		2.20%
Primary/Secondary Ed. - Public		1.37%
Higher Education - Public		1.06%
Port		0.68%
Industrial Development - Utility		0.49%
Senior Living		0.23%
SUBTOTAL		62.86%
Tax Supported
Special Tax		13.54%
State G.O.		7.73%
Assessment District		2.12%
Local G.O.		1.98%
State Lease		1.10%
SUBTOTAL		26.47%
Prerefunded/ETM		9.08%
Cash & Cash Equivalents
Funds and Investment Trusts		0.99%
SUBTOTAL		0.99%
Asset-Backed
Housing - Multi-Family		0.46%
SUBTOTAL		0.46%
Commercial Mortgage-Backed Securities		0.14%
Total		100.00%
State Breakdown		Portfolio %
California		11.69%
Illinois		10.93%
New York		9.14%
Pennsylvania		7.69%
New Jersey		7.51%
Florida		5.06%
Wisconsin		5.00%
Connecticut		4.74%
Texas		3.91%
Michigan		3.05%
South Carolina		2.98%
Alabama		2.38%
North Carolina		1.95%
Colorado		1.81%
Ohio		1.79%
Georgia		1.72%
Nebraska		1.71%
Oklahoma		1.71%
Minnesota		1.48%
Tennessee		1.41%
Arizona		1.40%
Utah		1.15%
Maryland		1.11%
Iowa		0.99%
Virginia		0.99%
District of Columbia		0.97%
Kansas		0.85%
Kentucky		0.83%
West Virginia		0.64%
Massachusetts		0.53%
Puerto Rico		0.52%
Hawaii		0.40%
Arkansas		0.33%
Indiana		0.20%
Louisiana		0.17%
Washington		0.14%
New Hampshire		0.13%
Other		0.99%
Total Investments		100.00%
Credit Quality Breakdown		Portfolio %
AAA		4.60%
AA		28.12%
A		32.43%
BBB		21.50%
BB		2.33%
D		0.20%
Not Rated		0.75%
Pre-refunded Bonds		9.08%
Short Term Investments		0.99%
Total		100.00%
Bonds by Maturity		Portfolio %
Less than 1 Year		4.39%
1 To 5 Years		6.55%
5 To 10 Years		16.66%
10 To 20 Years		29.13%
20 To 30 Years		35.45%
More than 30 Years		7.82%
Other		0.00%
Total Net Assets		100.00%
Portfolio Statistics:
AMT Percent:		9.23%
Average Coupon:		4.88%
Percentage of Leverage:
Bank Borrowing:		0.00%
Investment Operations:		2.87%
Auction Preferred Shares (APS):		0.00%
Tender Option Bonds:		4.40%
VMTP Shares:		38.98%
Total Fund Leverage:		46.25%*
Average Maturity:		6.74 Years
Effective Duration:		5.44 Years
Total Net Assets:		$373.22 Million**
Common Stock Net Asset Value:		$12.98
Total Number of Holdings:		189
Portfolio Turnover:		5.00%
* The total percentage of leverage constitutes 4.40% through the use of tender option bonds, 38.98%  in issued and outstanding VMTPs and 2.87% 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.

 

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SOURCE AllianceBernstein National Municipal Income Fund, Inc.