AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Feb. 22, 2021 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of January 31, 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

2.50%

2) Central Plains Energy Project  (Goldman Sachs Group, Inc. (The))  Series 2017A  5.00%, 9/01/42

2.16%

3) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29

2.15%

4) Jefferson County Board of Education/AL    Series 2018  5.00%, 2/01/46

1.74%

5) Wisconsin Public Finance Authority(CHF - Wilmington LLC)  AGM    5.00%, 7/01/58

1.66%

6) Massachusetts School Building Authority    Series 2011B  5.00%, 10/15/32 (Prerefunded/ETM)

1.62%

7) Detroit Downtown Development Authority  AGM  Series 2018A  5.00%, 7/01/48

1.62%

8) Los Angeles Department of Water & Power Power System Revenue    Series 2013B  5.00%, 7/01/30

1.59%

9) Tobacco Settlement Financing Corp./NJ    Series 2018A  5.00%, 6/01/46

1.56%

10) Metropolitan Pier & Exposition Authority      5.00%, 6/15/50

1.49%




Sector/Industry Breakdown


Portfolio %

Revenue



Health Care - Not-for-Profit


20.91%

Airport


8.05%

Toll Roads/Transit


6.17%

Electric Utility


4.78%

Revenue - Miscellaneous


4.75%

Water & Sewer


2.90%

Prepay Energy


2.81%

Tobacco Securitization


1.56%

Higher Education - Public


1.03%

Primary/Secondary Ed. - Public


0.93%

Higher Education - Private


0.76%

Port


0.69%

Industrial Development - Utility


0.47%

Senior Living


0.25%

Industrial Development - Industry


0.19%

SUBTOTAL


56.25%

Tax Supported



Special Tax


18.55%

State G.O.


7.72%

Local G.O.


2.51%

Tax-Supported State Lease


2.44%

Assessment District


2.11%

Tax-Supported Local Lease


0.56%

SUBTOTAL


33.89%

Prerefunded/ETM


8.55%

Insured/Guaranteed



Guaranteed


0.77%

SUBTOTAL


0.77%

Asset-Backed



Housing - Multi-Family


0.32%

SUBTOTAL


0.32%

Cash Equivalents



Investment Companies


0.22%

SUBTOTAL


0.22%

Total


100.00%




State Breakdown


Portfolio %

New York


12.35%

California


10.38%

Illinois


10.22%

New Jersey


8.04%

Pennsylvania


7.34%

Connecticut


5.42%

Florida


5.41%

Texas


4.55%

Michigan


3.85%

South Carolina


3.13%

Wisconsin


2.50%

Alabama


2.44%

Nebraska


2.16%

Massachusetts


2.00%

Colorado


1.84%

Oklahoma


1.77%

North Carolina


1.61%

Minnesota


1.51%

Tennessee


1.36%

Arizona


1.31%

Utah


1.20%

Maryland


1.09%

Georgia


1.08%

Ohio


1.04%

District of Columbia


0.96%

Kansas


0.86%

Guam


0.84%

Kentucky


0.81%

West Virginia


0.67%

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


0.22%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


5.46%

AA


28.09%

A


37.17%

BBB


17.73%

BB


1.73%

D


0.27%

Not Rated


0.78%

Pre-refunded Bonds


8.55%

Short-Term Investments


0.22%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.22%

1 to 5 years


1.18%

5 to 10 years


23.41%

10 to 20 years


36.17%

20 to 30 years


34.64%

More Than 30 years


4.38%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


9.84%

Average Coupon:


5.04%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.00%

Auction Preferred Shares (APS):


0.00%

Tender Option Bonds:


3.89%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

34.51%

Total Fund Leverage:


38.40%*

Average Effective Maturity:


4.98  Years

Effective Duration:


4.49  Years

Total Net Assets:


$448.54 Million**

Common Stock Net Asset Value:


$15.24

Number of Holdings:


175

Portfolio Turnover:


6%




* The total percentage of leverage constitutes 3.89% through the use of tender option bonds, 34.51% 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.

 

Cision View original content:http://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-releases-monthly-portfolio-update-301232770.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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