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.

 

Cision View original content:http://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-releases-monthly-portfolio-update-301257817.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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