AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Sept. 21, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of August 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		2.45%
2) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29		2.22%
3) Central Plains Energy Project  (Goldman Sachs Group, Inc.(The))  Series 2017A  5.00%, 9/01/42		2.02%
4) Massachusetts School Building Authority    Series 2011B  5.00%, 10/15/32 (Prerefunded/ETM)		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		1.68%
7) Los Angeles Department of Water & Power Power System Revenue    Series 2013B  5.00%, 7/01/30		1.64%
8) Detroit Downtown Development Authority  AGM  Series 2018A  5.00%, 7/01/48		1.63%
9) Tobacco Settlement Financing Corp.    Series 2018A  5.00%, 6/01/46		1.53%
10) Miami Beach Health Facilities Authority  (Mount Sinai Medical Center of Florida, Inc.)  Series 2014  5.00%, 11/15/39		1.49%
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		20.89%
Airport		8.08%
Toll Roads/Transit		6.97%
Electric Utility		4.86%
Revenue - Miscellaneous		4.74%
Water & Sewer		3.00%
Prepay Energy		2.70%
Tobacco Securitization		1.53%
Higher Education - Public		1.07%
Primary/Secondary Ed. - Public		0.93%
Higher Education - Private		0.74%
Port		0.71%
Industrial Development - Utility		0.47%
Senior Living		0.24%
Industrial Development - Industry		0.18%
SUBTOTAL		57.11%
Tax Supported
Special Tax		17.91%
State G.O.		7.68%
Local G.O.		3.31%
Tax-Supported State Lease		2.37%
Assessment District		2.12%
Tax-Supported Local Lease		0.56%
SUBTOTAL		33.95%
Prerefunded/ETM		7.32%
Insured/Guaranteed
Guaranteed		0.78%
SUBTOTAL		0.78%
Cash Equivalents
Investment Companies		0.53%
SUBTOTAL		0.53%
Asset-Backed
Housing - Multi-Family		0.31%
SUBTOTAL		0.31%
Total		100.00%
State Breakdown		Portfolio %
New York		12.54%
California		10.68%
Illinois		9.98%
New Jersey		7.72%
Pennsylvania		7.32%
Connecticut		5.55%
Florida		5.45%
Texas		4.66%
Michigan		3.89%
South Carolina		3.13%
Alabama		2.44%
Massachusetts		2.39%
Nebraska		2.02%
Colorado		1.85%
Oklahoma		1.77%
Wisconsin		1.68%
North Carolina		1.60%
Minnesota		1.49%
Tennessee		1.37%
Arizona		1.33%
Utah		1.19%
Georgia		1.09%
Maryland		1.09%
Ohio		1.03%
District of Columbia		0.99%
Guam		0.86%
Kansas		0.86%
Kentucky		0.83%
West Virginia		0.67%
Puerto Rico		0.50%
Hawaii		0.41%
Arkansas		0.32%
Indiana		0.19%
Iowa		0.18%
Louisiana		0.17%
New Hampshire		0.13%
Oregon		0.10%
Other		0.53%
Total Investments		100.00%
Credit Quality Breakdown		Portfolio %
AAA		5.61%
AA		28.84%
A		37.61%
BBB		17.38%
BB		1.70%
D		0.27%
Not Rated		0.74%
Pre-refunded Bonds		7.32%
Short-Term Investments		0.53%
Total Investments		100.00%
Bonds By Maturity		Portfolio %
Less than 1 year		0.53%
1 to 5 years		1.05%
5 to 10 years		22.10%
10 to 20 years		36.26%
20 to 30 years		35.05%
More Than 30 years		5.01%
Other		0.00%
Total Investments		100.00%
Portfolio Statistics:
AMT Percent:		10.20%
Average Coupon:		5.05%
Percentage of Leverage:
Bank Borrowing:		0.00%
Investment Operations:		0.00%
Auction Preferred Shares (APS):		0.00%
Tender Option Bonds:		3.98%
Variable Rate MuniFund Term Preferred Shares (VMTPs):		35.22%
Total Fund Leverage:		39.20%*
Average Effective Maturity:		5.30  Years
Effective Duration:		4.71  Years
Total Net Assets:		$435.61 Million**
Common Stock Net Asset Value:		$15.15
Number of Holdings:		171
Portfolio Turnover:		14%
* The total percentage of leverage constitutes 3.98% through the use of tender option bonds, 35.22%  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.