AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Aug. 24, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of July 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  0.052%, 11/15/35	2.47%
2) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29	2.21%
3) Central Plains Energy Project  (Goldman Sachs Group, Inc.(The))  Series 2017A  5.00%, 9/01/42	2.07%
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	1.75%
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	1.64%
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	1.52%
10) Miami Beach Health Facilities Authority  (Mount Sinai Medical Center of Florida, Inc.)  Series 2014  5.00%, 11/15/39	1.47%
Sector/Industry Breakdown	Portfolio %
Revenue
Health Care - Not-for-Profit	19.75%
Airport	8.11%
Toll Roads/Transit	6.96%
Electric Utility	4.86%
Revenue - Miscellaneous	4.70%
Water & Sewer	2.99%
Prepay Energy	2.75%
Tobacco Securitization	1.52%
Higher Education - Public	1.07%
Higher Education - Private	0.75%
Port	0.71%
Industrial Development - Utility	0.47%
Primary/Secondary Ed. - Public	0.27%
Senior Living	0.24%
Industrial Development - Industry	0.18%
SUBTOTAL	55.33%
Tax Supported
Special Tax	17.90%
State G.O.	7.71%
Local G.O.	3.30%
Tax-Supported State Lease	2.37%
Assessment District	2.12%
Tax-Supported Local Lease	0.56%
SUBTOTAL	33.96%
Prerefunded/ETM	7.82%
Cash Equivalents
Investment Companies	1.80%
SUBTOTAL	1.80%
Insured/Guaranteed
Guaranteed	0.78%
SUBTOTAL	0.78%
Collateralized Mortgage Obligations	0.31%
Total	100.00%
State Breakdown	Portfolio %
New York	11.47%
California	10.66%
Illinois	10.00%
Pennsylvania	7.81%
New Jersey	7.71%
Connecticut	5.54%
Florida	5.44%
Texas	4.65%
Michigan	3.88%
South Carolina	3.12%
Alabama	2.46%
Massachusetts	2.39%
Nebraska	2.07%
Colorado	1.85%
Oklahoma	1.79%
Wisconsin	1.69%
North Carolina	1.60%
Minnesota	1.50%
Tennessee	1.30%
Utah	1.20%
Georgia	1.10%
Maryland	1.07%
Ohio	1.03%
District of Columbia	0.99%
Guam	0.86%
Kansas	0.86%
Kentucky	0.83%
Arizona	0.67%
West Virginia	0.66%
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	1.80%
Total Investments	100.00%
Credit Quality Breakdown	Portfolio %
AAA	5.60%
AA	27.83%
A	36.97%
BBB	17.28%
BB	1.69%
D	0.27%
Not Rated	0.74%
Pre-refunded Bonds	7.82%
Short-Term Investments	1.80%
Total Investments	100.00%
Bonds By Maturity	Portfolio %
Less than 1 year	1.80%
1 to 5 years	1.05%
5 to 10 years	20.87%
10 to 20 years	37.93%
20 to 30 years	33.81%
More Than 30 years	4.54%
Other	0.00%
Total Investments	100.00%
Portfolio Statistics:
AMT Percent:	10.23%
Average Coupon:	5.00%
Percentage of Leverage:
Bank Borrowing:	0.00%
Investment Operations:	0.00%
Auction Preferred Shares (APS):	0.00%
Tender Option Bonds:	3.96%
Variable Rate MuniFund Term Preferred Shares (VMTPs):	35.02%
Total Fund Leverage:	38.98%*
Average Effective Maturity:	5.22  Years
Effective Duration:	4.64  Years
Total Net Assets:	$438.63 Million**
Common Stock Net Asset Value:	$15.26
Number of Holdings:	168
Portfolio Turnover:	14%

* The total percentage of leverage constitutes 3.96% through the use of tender option bonds, 35.02%  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.

 

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SOURCE AllianceBernstein National Municipal Income Fund