AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, July 27, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of June 30,2020.

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	2.48%
2) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29	2.25%
3) Massachusetts School Building Authority    Series 2011B  5.00%, 10/15/32 (Prerefunded/ETM)	2.03%
4) Central Plains Energy Project  (Goldman Sachs Group, Inc. (The))  Series 2017A  5.00%, 9/01/42	1.99%
5) Jefferson County Board of Education/AL    Series 2018  5.00%, 2/01/46	1.74%
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	1.67%
8) Detroit Downtown Development Authority  AGM  Series 2018A  5.00%, 7/01/48	1.65%
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	1.48%
Sector/Industry Breakdown	Portfolio %
Revenue
Health Care - Not-for-Profit	19.83%
Airport	8.89%
Toll Roads/Transit	6.99%
Electric Utility	4.90%
Revenue - Miscellaneous	4.69%
Water & Sewer	3.04%
Prepay Energy	2.67%
Tobacco Securitization	1.52%
Higher Education - Public	1.08%
Higher Education - Private	0.74%
Port	0.71%
Industrial Development - Utility	0.47%
Primary/Secondary Ed. - Public	0.27%
Senior Living	0.24%
Industrial Development - Industry	0.18%
SUBTOTAL	56.22%
Tax Supported
Special Tax	18.41%
State G.O.	7.65%
Local G.O.	3.32%
Tax-Supported State Lease	2.33%
Assessment District	2.15%
Tax-Supported Local Lease	0.57%
SUBTOTAL	34.43%
Prerefunded/ETM	7.57%
Insured/Guaranteed
Guaranteed	0.79%
SUBTOTAL	0.79%
Cash Equivalents
Investment Companies	0.68%
SUBTOTAL	0.68%
Collateralized Mortgage Obligations	0.31%
Total	100.00%
State Breakdown	Portfolio %
New York	11.58%
California	10.82%
Illinois	9.85%
Pennsylvania	7.83%
New Jersey	7.70%
Connecticut	5.62%
Florida	5.48%
Texas	4.69%
Michigan	3.94%
South Carolina	3.13%
Alabama	2.46%
Massachusetts	2.43%
Nebraska	1.99%
Colorado	1.86%
Oklahoma	1.79%
Wisconsin	1.69%
North Carolina	1.58%
Minnesota	1.50%
Tennessee	1.31%
Utah	1.21%
Hawaii	1.15%
Georgia	1.10%
Maryland	1.08%
Ohio	1.02%
District of Columbia	1.00%
Guam	0.87%
Kansas	0.86%
Kentucky	0.82%
Arizona	0.68%
West Virginia	0.66%
Puerto Rico	0.50%
Arkansas	0.33%
Indiana	0.20%
Iowa	0.18%
Louisiana	0.17%
New Hampshire	0.13%
Oregon	0.11%
Other	0.68%
Total Investments	100.00%
Credit Quality Breakdown	Portfolio %
AAA	6.08%
AA	28.82%
A	37.08%
BBB	17.08%
BB	1.69%
D	0.27%
Not Rated	0.73%
Pre-refunded Bonds	7.57%
Short-Term Investments	0.68%
Total Investments	100.00%
Bonds By Maturity	Portfolio %
Less than 1 year	0.68%
1 to 5 years	1.06%
5 to 10 years	18.39%
10 to 20 years	41.36%
20 to 30 years	33.98%
More Than 30 years	4.53%
Other	0.00%
Total Investments	100.00%
Portfolio Statistics:
AMT Percent:	10.30%
Average Coupon:	5.12%
Percentage of Leverage:
Bank Borrowing:	0.00%
Investment Operations:	0.00%
Auction Preferred Shares (APS):	0.00%
Tender Option Bonds:	4.03%
Variable Rate MuniFund Term Preferred Shares (VMTPs):	35.70%
Total Fund Leverage:	39.73%*
Average Effective Maturity:	5.40  Years
Effective Duration:	4.76  Years
Total Net Assets:	$428.26 Million**
Common Stock Net Asset Value:	$14.52
Number of Holdings:	169
Portfolio Turnover:	14%
* The total percentage of leverage constitutes 4.03% through the use of tender option bonds, 35.70%  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.