AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, May 21, 2021 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of April 30,2021.

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	2.50%
2) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29	2.14%
3) Central Plains Energy Project  (Goldman Sachs Group, Inc. (The))  Series 2017A  5.00%, 9/01/42	2.06%
4) Jefferson County Board of Education/AL    Series 2018  5.00%, 2/01/46	1.77%
5) Wisconsin Public Finance Authority(CHF - Wilmington LLC)  AGM    5.00%, 7/01/58	1.68%
6) Detroit Downtown Development Authority  AGM  Series 2018A  5.00%, 7/01/48	1.61%
7) Los Angeles Department of Water & Power Power System Revenue    Series 2013B  5.00%, 7/01/30	1.58%
8) Tobacco Settlement Financing Corp./NJ    Series 2018A  5.00%, 6/01/46	1.53%
9) Metropolitan Pier & Exposition Authority      5.00%, 6/15/50	1.51%
10) Miami Beach Health Facilities Authority  (Mount Sinai Medical Center of Florida, Inc.)  Series 2014  5.00%, 11/15/39	1.46%
Sector/Industry Breakdown	Portfolio %
Revenue
Health Care - Not-for-Profit	21.99%
Airport	8.09%
Toll Roads/Transit	6.40%
Electric Utility	4.75%
Revenue - Miscellaneous	4.68%
Prepay Energy	2.71%
Water & Sewer	2.60%
Tobacco Securitization	1.53%
Higher Education - Public	1.03%
Primary/Secondary Ed. - Public	0.93%
Higher Education - Private	0.77%
Port	0.69%
Industrial Development - Utility	0.47%
Senior Living	0.25%
Industrial Development - Industry	0.19%
SUBTOTAL	57.08%
Tax Supported
Special Tax	17.95%
State G.O.	7.76%
Local G.O.	2.49%
Tax-Supported State Lease	2.45%
Assessment District	2.10%
Tax-Supported Local Lease	0.55%
SUBTOTAL	33.30%
Prerefunded/ETM	8.24%
Insured/Guaranteed
Guaranteed	0.77%
SUBTOTAL	0.77%
Asset-Backed
Housing - Multi-Family	0.49%
SUBTOTAL	0.49%
Cash Equivalents
Investment Companies	0.12%
SUBTOTAL	0.12%
Total	100.00%
State Breakdown	Portfolio %
New York	12.02%
California	10.82%
Illinois	10.31%
New Jersey	8.24%
Pennsylvania	7.74%
Connecticut	5.41%
Florida	5.41%
Texas	4.40%
Michigan	3.84%
South Carolina	3.12%
Wisconsin	2.87%
Alabama	2.45%
Nebraska	2.06%
Colorado	1.84%
Oklahoma	1.80%
North Carolina	1.59%
Minnesota	1.51%
Tennessee	1.37%
Arizona	1.31%
Massachusetts	1.26%
Utah	1.20%
Maryland	1.09%
Georgia	1.08%
Ohio	1.05%
District of Columbia	0.96%
Kansas	0.86%
Guam	0.85%
Kentucky	0.81%
West Virginia	0.66%
Puerto Rico	0.52%
Hawaii	0.41%
Arkansas	0.32%
Indiana	0.20%
Iowa	0.19%
Louisiana	0.18%
New Hampshire	0.13%
Other	0.12%
Total Investments	100.00%
Credit Quality Breakdown	Portfolio %
AAA	5.36%
AA	31.66%
A	33.16%
BBB	18.34%
BB	2.07%
D	0.28%
Not Rated	0.77%
Pre-refunded Bonds	8.24%
Short-Term Investments	0.12%
Total Investments	100.00%
Bonds By Maturity	Portfolio %
Less than 1 year	0.12%
1 to 5 years	1.08%
5 to 10 years	23.14%
10 to 20 years	35.63%
20 to 30 years	34.60%
More Than 30 years	5.43%
Other	0.00%
Total Investments	100.00%
Portfolio Statistics:
AMT Percent:	9.82%
Average Coupon:	5.05%
Percentage of Leverage:
Bank Borrowing:	0.00%
Investment Operations:	0.33%
Auction Preferred Shares (APS):	0.00%
Tender Option Bonds:	3.94%
Variable Rate MuniFund Term Preferred Shares (VMTPs):	34.83%
Total Fund Leverage:	39.10%*
Average Effective Maturity:	4.85  Years
Effective Duration:	4.13  Years
Total Net Assets:	$445.45 Million**
Common Stock Net Asset Value:	$15.29
Number of Holdings:	178
Portfolio Turnover:	6%

 

 

* The total percentage of leverage constitutes 3.94% through the use of tender option bonds, 34.83%  in issued and outstanding VMTPs and 0.330% 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.