AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Jan. 25, 2021 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of December 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

2.54%

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

2.11%

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

1.73%

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

1.68%

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

1.65%

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

1.61%

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

1.60%

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

1.56%

10) Miami Beach Health Facilities Authority  (Mount Sinai Medical Center of Florida, Inc.)  Series 2014  5.00%, 11/15/39

1.48%




Sector/Industry Breakdown


Portfolio %

Revenue



Health Care - Not-for-Profit


21.07%

Airport


8.08%

Toll Roads/Transit


6.96%

Electric Utility


4.82%

Revenue - Miscellaneous


4.76%

Water & Sewer


2.93%

Prepay Energy


2.78%

Tobacco Securitization


1.56%

Higher Education - Public


1.05%

Primary/Secondary Ed. - Public


0.94%

Higher Education - Private


0.76%

Port


0.70%

Industrial Development - Utility


0.47%

Senior Living


0.25%

Industrial Development - Industry


0.19%

SUBTOTAL


57.32%

Tax Supported



Special Tax


18.68%

State G.O.


7.68%

Local G.O.


2.49%

Tax-Supported State Lease


2.42%

Assessment District


2.08%

Tax-Supported Local Lease


0.56%

SUBTOTAL


33.91%

Prerefunded/ETM


7.65%

Insured/Guaranteed



Guaranteed


0.77%

SUBTOTAL


0.77%

Asset-Backed



Housing - Multi-Family


0.32%

SUBTOTAL


0.32%

Cash Equivalents



Investment Companies


0.03%

SUBTOTAL


0.03%

Total


100.00%




State Breakdown


Portfolio %

New York


12.48%

California


10.49%

Illinois


10.08%

New Jersey


7.79%

Pennsylvania


7.37%

Connecticut


5.48%

Florida


5.46%

Texas


4.60%

Michigan


3.84%

South Carolina


3.15%

Wisconsin


2.52%

Alabama


2.43%

Nebraska


2.11%

Massachusetts


2.03%

Colorado


1.84%

Oklahoma


1.79%

North Carolina


1.62%

Minnesota


1.55%

Tennessee


1.37%

Arizona


1.33%

Utah


1.20%

Georgia


1.10%

Maryland


1.10%

Ohio


1.05%

District of Columbia


0.97%

Kansas


0.87%

Guam


0.85%

Kentucky


0.81%

West Virginia


0.68%

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%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


5.51%

AA


28.27%

A


38.16%

BBB


17.63%

BB


1.71%

D


0.27%

Not Rated


0.77%

Pre-refunded Bonds


7.65%

Short-Term Investments


0.03%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.03%

1 to 5 years


1.19%

5 to 10 years


22.56%

10 to 20 years


35.81%

20 to 30 years


36.00%

More Than 30 years


4.41%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


10.06%

Average Coupon:


5.05%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.00%

Auction Preferred Shares (APS):


0.00%

Tender Option Bonds:


3.95%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

34.91%

Total Fund Leverage:


38.86%*

Average Effective Maturity:


5.04  Years

Effective Duration:


4.54  Years

Total Net Assets:


$443.24 Million**

Common Stock Net Asset Value:


$15.24

Number of Holdings:


174

Portfolio Turnover:


6%




* The total percentage of leverage constitutes 3.95% through the use of tender option bonds, 34.91%  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-301214426.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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