AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, June 29, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of May 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	2.46%
2) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29	2.26%
3) Massachusetts School Building Authority    Series 2011B  5.00%, 10/15/32 (Prerefunded/ETM)	2.08%
4) Central Plains Energy Project  (Goldman Sachs Group, Inc. (The))  Series 2017A  5.00%, 9/01/42	1.96%
5) Jefferson County Board of Education/AL    Series 2018  5.00%, 2/01/46	1.78%
6) Los Angeles Department of Water & Power Power System Revenue    Series 2013B  5.00%, 7/01/30	1.70%
7) Wisconsin Public Finance Authority(CHF - Wilmington LLC)  AGM    5.00%, 7/01/58	1.70%
8) Detroit Downtown Development Authority  AGM  Series 2018A  5.00%, 7/01/48	1.70%
9) Miami Beach Health Facilities Authority  (Mount Sinai Medical Center of Florida, Inc.)  Series 2014  5.00%, 11/15/39	1.50%
10) Tobacco Settlement Financing Corp.    Series 2018A  5.00%, 6/01/46	1.48%
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		19.65%
Airport		8.87%
Toll Roads/Transit		7.05%
Electric Utility		4.94%
Revenue - Miscellaneous		4.68%
Water & Sewer		3.10%
Prepay Energy		2.65%
Tobacco Securitization		1.48%
Higher Education - Public		1.11%
Higher Education - Private		0.73%
Port		0.72%
Industrial Development - Utility		0.47%
Primary/Secondary Ed. - Public		0.27%
Senior Living		0.23%
Industrial Development - Industry		0.18%
SUBTOTAL		56.13%
Tax Supported
Special Tax		18.51%
State G.O.		7.57%
Local G.O.		3.35%
Tax-Supported State Lease		2.24%
Assessment District		2.21%
Tax-Supported Local Lease		0.56%
SUBTOTAL		34.44%
Prerefunded/ETM		7.74%
Insured/Guaranteed
Guaranteed		0.81%
SUBTOTAL		0.81%
Cash Equivalents
Investment Companies		0.58%
SUBTOTAL		0.58%
Collateralized Mortgage Obligations		0.30%
Total		100.00%
State Breakdown		Portfolio %
New York		11.71%
California		11.01%
Illinois		9.56%
Pennsylvania		7.82%
New Jersey		7.59%
Connecticut		5.64%
Florida		5.52%
Texas		4.77%
Michigan		4.03%
South Carolina		3.08%
Alabama		2.50%
Massachusetts		2.48%
Nebraska		1.96%
Colorado		1.85%
Oklahoma		1.79%
Wisconsin		1.70%
North Carolina		1.56%
Minnesota		1.49%
Tennessee		1.31%
Utah		1.18%
Hawaii		1.17%
Georgia		1.10%
Maryland		1.09%
District of Columbia		1.02%
Ohio		1.00%
Guam		0.87%
Kansas		0.86%
Kentucky		0.83%
Arizona		0.70%
West Virginia		0.65%
Puerto Rico		0.48%
Arkansas		0.33%
Indiana		0.20%
Iowa		0.18%
Louisiana		0.16%
New Hampshire		0.12%
Oregon		0.11%
Other		0.58%
Total Investments		100.00%
Credit Quality Breakdown		Portfolio %
AAA		6.20%
AA		29.23%
A		36.97%
BBB		16.64%
BB		1.66%
D		0.27%
Not Rated		0.71%
Pre-refunded Bonds		7.74%
Short-Term Investments		0.58%
Total Investments		100.00%
Bonds By Maturity		Portfolio %
Less than 1 year		0.58%
1 to 5 years		1.08%
5 to 10 years		17.67%
10 to 20 years		42.49%
20 to 30 years		32.42%
More Than 30 years		5.76%
Other		0.00%
Total Investments		100.00%
Portfolio Statistics:
Average Coupon:		5.07%
Percentage of Leverage:
Bank Borrowing:		0.00%
Investment Operations:		0.00%
Auction Preferred Shares (APS):		0.00%
Tender Option Bonds:		4.11%
Variable Rate MuniFund Term Preferred Shares (VMTPs):		36.34%
Total Fund Leverage:		40.45%*
Average Effective Maturity:		5.86  Years
Effective Duration:		4.98  Years
Total Net Assets:		$417.27 Million**
Common Stock Net Asset Value:		$14.52
Number of Holdings:		169
Portfolio Turnover:		14%
* The total percentage of leverage constitutes 4.11% through the use of tender option bonds, 36.34%  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, Inc.