AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Jan. 25, 2022 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of December 31, 2021.

AllianceBernstein National Municipal Income Fund, Inc.
Top 10 Fixed-Income Holdings		Portfolio %
1) Metropolitan Transportation Authority  (Metropolitan Transportation Authority Dedicated Tax Fund)  Series 2016-A  5.25%, 11/15/35		2.48%
2) Central Plains Energy Project  (Goldman Sachs Group, Inc. (The))  Series 2017-A  5.00%, 9/01/42		2.11%
3) State of Connecticut Special Tax Revenue    Series 2012-A  5.00%, 1/01/29		2.09%
4) Jefferson County Board of Education/AL    Series 2018  5.00%, 2/01/46		1.75%
5) Wisconsin Public Finance Authority(CHF - Wilmington LLC)  AGM  Series 2018  5.00%, 7/01/58		1.71%
6) Detroit Downtown Development Authority  AGM  Series 2018-A  5.00%, 7/01/48		1.58%
7) Los Angeles Department of Water & Power Power System Revenue    Series 2013-B  5.00%, 7/01/30		1.54%
8) Tobacco Settlement Financing Corp./NJ    Series 2018-A  5.00%, 6/01/46		1.52%
9) Metropolitan Pier & Exposition Authority    Series 2020  5.00%, 6/15/50		1.52%
10) California Statewide Communities Development Authority  (CHF-Irvine LLC)  Series 2021  3.00%, 5/15/54		1.50%
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		22.12%
Airport		7.75%
Revenue - Miscellaneous		6.02%
Toll Roads/Transit		5.73%
Electric Utility		5.23%
Prepay Energy		2.75%
Tobacco Securitization		2.51%
Water & Sewer		2.11%
Higher Education - Private		1.71%
Primary/Secondary Ed. - Public		1.10%
Higher Education - Public		1.00%
Port		0.69%
Industrial Development - Utility		0.46%
Senior Living		0.26%
Industrial Development - Industry		0.19%
SUBTOTAL		59.63%
Tax Supported
Special Tax		16.68%
State G.O.		7.71%
Local G.O.		2.46%
Tax-Supported State Lease		2.44%
Assessment District		2.06%
SUBTOTAL		31.35%
Prerefunded/ETM		8.26%
Asset-Backed
Housing - Multi-Family		0.49%
SUBTOTAL		0.49%
Commercial Mortgage-Backed Securities		0.17%
Cash Equivalents
Investment Companies		0.10%
SUBTOTAL		0.10%
Total		100.00%
State Breakdown		Portfolio %
California		12.09%
New York		11.28%
Illinois		11.09%
New Jersey		8.30%
Pennsylvania		7.72%
Florida		4.81%
Connecticut		4.59%
Michigan		3.77%
Texas		3.51%
South Carolina		3.09%
Wisconsin		2.92%
Alabama		2.45%
Nebraska		2.11%
Ohio		2.06%
Colorado		1.82%
Oklahoma		1.80%
Georgia		1.63%
North Carolina		1.60%
Minnesota		1.52%
Tennessee		1.39%
Arizona		1.29%
Utah		1.21%
Maryland		1.08%
District of Columbia		0.94%
Kansas		0.87%
Guam		0.83%
Kentucky		0.80%
West Virginia		0.67%
Puerto Rico		0.54%
Massachusetts		0.53%
Hawaii		0.41%
Arkansas		0.32%
Indiana		0.19%
Iowa		0.19%
Louisiana		0.18%
Washington		0.17%
New Hampshire		0.13%
Other		0.10%
Total Investments		100.00%
Credit Quality Breakdown		Portfolio %
AAA		4.49%
AA		30.56%
A		33.09%
BBB		20.19%
BB		2.23%
D		0.28%
Not Rated		0.80%
Pre-refunded Bonds		8.26%
Short-Term Investments		0.10%
Total Investments		100.00%
Bonds By Maturity		Portfolio %
Less than 1 year		0.32%
1 to 5 years		1.43%
5 to 10 years		22.33%
10 to 20 years		32.03%
20 to 30 years		37.28%
More Than 30 years		6.61%
Other		0.00%
Total Investments		100.00%
Portfolio Statistics:
AMT Percent:		9.89%
Average Coupon:		4.97%
Percentage of Leverage:
Bank Borrowing:		0.00%
Investment Operations:		0.34%
Auction Preferred Shares (APS):		0.00%
Tender Option Bonds:		3.96%
Variable Rate MuniFund Term Preferred Shares (VMTPs):		35.02%
Total Fund Leverage:		39.32%*
Average Effective Maturity:		4.67  Years
Effective Duration:		4.21  Years
Total Net Assets:		$440.71 Million**
Common Stock Net Asset Value:		$15.26
Number of Holdings:		181
Portfolio Turnover:		5%
* The total percentage of leverage constitutes 3.96% through the use of tender option bonds, 35.02%  in issued and outstanding VMTPs and 0.340% 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.