AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Nov. 23, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of October 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		2.47%
2) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29		2.23%
3) Central Plains Energy Project  Goldman Sachs Group, Inc. (The)  Series 2017A  5.00%, 9/01/42		2.00%
4) Massachusetts School Building Authority    Series 2011B  5.00%, 10/15/32 (Prerefunded/ETM)		2.00%
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		1.65%
8) Detroit Downtown Development Authority  AGM  Series 2018A  5.00%, 7/01/48		1.64%
9) Tobacco Settlement Financing Corp./NJ    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		20.97%
Airport		8.08%
Toll Roads/Transit		7.00%
Electric Utility		4.89%
Revenue - Miscellaneous		4.77%
Water & Sewer		3.01%
Prepay Energy		2.68%
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		0.19%
SUBTOTAL		57.28%
Tax Supported
Special Tax		17.98%
State G.O.		7.61%
Local G.O.		3.32%
Tax-Supported State Lease		2.36%
Assessment District		2.13%
Tax-Supported Local Lease		0.56%
SUBTOTAL		33.96%
Prerefunded/ETM		7.36%
Insured/Guaranteed
Guaranteed		0.79%
SUBTOTAL		0.79%
Asset-Backed
Housing - Multi-Family		0.32%
SUBTOTAL		0.32%
Cash Equivalents
Investment Companies		0.29%
SUBTOTAL		0.29%
Total		100.00%
State Breakdown		Portfolio %
New York		12.55%
California		10.73%
Illinois		9.86%
New Jersey		7.73%
Pennsylvania		7.34%
Connecticut		5.58%
Florida		5.49%
Texas		4.68%
Michigan		3.93%
South Carolina		3.15%
Alabama		2.44%
Massachusetts		2.40%
Nebraska		2.00%
Colorado		1.85%
Minnesota		1.79%
Oklahoma		1.78%
Wisconsin		1.69%
North Carolina		1.62%
Tennessee		1.37%
Arizona		1.33%
Utah		1.18%
Georgia		1.10%
Maryland		1.10%
Ohio		1.05%
District of Columbia		0.99%
Guam		0.87%
Kansas		0.86%
Kentucky		0.83%
West Virginia		0.67%
Puerto Rico		0.50%
Hawaii		0.42%
Arkansas		0.33%
Indiana		0.20%
Iowa		0.19%
Louisiana		0.17%
New Hampshire		0.13%
Oregon		0.10%
Total Investments		100.00%
Credit Quality Breakdown		Portfolio %
AAA		5.65%
AA		28.54%
A		38.13%
BBB		17.30%
BB		1.70%
D		0.28%
Not Rated		0.75%
Pre-refunded Bonds		7.36%
Short-Term Investments		0.29%
Total Investments		100.00%
Bonds By Maturity		Portfolio %
Less than 1 year		0.29%
1 to 5 years		1.21%
5 to 10 years		21.99%
10 to 20 years		36.40%
20 to 30 years		35.06%
More Than 30 years		5.05%
Other		0.00%
Total Investments		100.00%
Portfolio Statistics:
AMT Percent:		10.13%
Average Coupon:		5.06%
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):		35.69%
Total Fund Leverage:		39.72%*
Average Effective Maturity:		5.27  Years
Effective Duration:		4.67  Years
Total Net Assets:		$429.46 Million**
Common Stock Net Asset Value:		$14.94
Number of Holdings:		171
Portfolio Turnover:		14%
* The total percentage of leverage constitutes 4.03% through the use of tender option bonds, 35.69%  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.