AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, March 29, 2021 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of February 28,2021.

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		2.49%
2) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29		2.17%
3) Central Plains Energy Project  (Goldman Sachs Group, Inc. (The))  Series 2017A  5.00%, 9/01/42		2.04%
4) Jefferson County Board of Education/AL    Series 2018  5.00%, 2/01/46		1.72%
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		1.63%
7) Los Angeles Department of Water & Power Power System Revenue    Series 2013B  5.00%, 7/01/30		1.60%
8) Tobacco Settlement Financing Corp./NJ    Series 2018A  5.00%, 6/01/46		1.52%
9) Metropolitan Pier & Exposition Authority      5.00%, 6/15/50		1.50%
10) Massachusetts School Building Authority    Series 2011B  5.00%, 10/15/32 (Prerefunded/ETM)		1.49%
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		21.14%
Airport		8.03%
Toll Roads/Transit		6.42%
Electric Utility		4.79%
Revenue - Miscellaneous		4.77%
Water & Sewer		2.93%
Prepay Energy		2.70%
Tobacco Securitization		1.52%
Higher Education - Public		1.04%
Primary/Secondary Ed. - Public		0.92%
Higher Education - Private		0.75%
Port		0.69%
Industrial Development - Utility		0.47%
Senior Living		0.25%
Industrial Development - Industry		0.19%
SUBTOTAL		56.61%
Tax Supported
Special Tax		18.60%
State G.O.		7.71%
Local G.O.		2.51%
Tax-Supported State Lease		2.40%
Assessment District		2.12%
Tax-Supported Local Lease		0.56%
SUBTOTAL		33.90%
Prerefunded/ETM		8.34%
Insured/Guaranteed
Guaranteed		0.77%
SUBTOTAL		0.77%
Asset-Backed
Housing - Multi-Family		0.32%
SUBTOTAL		0.32%
Cash Equivalents
Investment Companies		0.06%
SUBTOTAL		0.06%
Total		100.00%
State Breakdown		Portfolio %
New York		12.38%
California		10.47%
Illinois		10.16%
New Jersey		8.21%
Pennsylvania		7.66%
Connecticut		5.47%
Florida		5.41%
Texas		4.44%
Michigan		3.88%
South Carolina		3.11%
Wisconsin		2.49%
Alabama		2.41%
Nebraska		2.04%
Massachusetts		1.88%
Colorado		1.85%
Oklahoma		1.76%
North Carolina		1.59%
Minnesota		1.50%
Tennessee		1.36%
Arizona		1.31%
Utah		1.18%
Maryland		1.08%
Georgia		1.07%
Ohio		1.04%
District of Columbia		0.97%
Guam		0.85%
Kansas		0.85%
Kentucky		0.82%
West Virginia		0.66%
Puerto Rico		0.52%
Hawaii		0.41%
Arkansas		0.32%
Indiana		0.19%
Iowa		0.19%
Louisiana		0.18%
New Hampshire		0.13%
Oregon		0.10%
Other		0.06%
Total Investments		100.00%
Credit Quality Breakdown		Portfolio %
AAA		5.50%
AA		28.13%
A		37.24%
BBB		17.61%
BB		2.07%
D		0.28%
Not Rated		0.77%
Pre-refunded Bonds		8.34%
Short-Term Investments		0.06%
Total Investments		100.00%
Bonds By Maturity		Portfolio %
Less than 1 year		0.06%
1 to 5 years		1.19%
5 to 10 years		23.66%
10 to 20 years		36.07%
20 to 30 years		34.30%
More Than 30 years		4.72%
Other		0.00%
Total Investments		100.00%
Portfolio Statistics:
AMT Percent:		9.80%
Average Coupon:		5.14%
Percentage of Leverage:
Bank Borrowing:		0.00%
Investment Operations:		0.36%
Auction Preferred Shares (APS):		0.00%
Tender Option Bonds:		3.98%
Variable Rate MuniFund Term Preferred Shares (VMTPs):		35.19%
Total Fund Leverage:		39.53%*
Average Effective Maturity:		4.91  Years
Effective Duration:		4.42  Years
Total Net Assets:		$437.15 Million**
Common Stock Net Asset Value:		$15.21
Number of Holdings:		176
Portfolio Turnover:		6%

* The total percentage of leverage constitutes 3.98% through the use of tender option bonds, 35.19% in issued and outstanding VMTPs and 0.36% 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.