AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Aug. 23, 2019 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. AFB (the "Fund") today released its monthly portfolio update as of July 31, 2019.

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

2.55%

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

2.22%

3) Massachusetts School Building Authority  (Massachusetts School Building Authority Sales Tax)  Series 2011B  5.00%, 10/15/32

2.03%

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

1.93%

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

1.69%

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

1.66%

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

1.63%

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

1.59%

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

1.50%

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

1.45%







Sector/Industry Breakdown



Portfolio %

Revenue





Health Care - Not-for-Profit



17.32%

Airport



8.81%

Toll Roads/Transit



7.34%

Electric Utility



4.67%

Revenue - Miscellaneous



4.57%

Water & Sewer



3.03%

Prepay Energy



2.61%

Higher Education - Public



1.75%

Port



1.50%

Tobacco Securitization



1.45%

Industrial Development - Utility



1.02%

Higher Education - Private



0.59%

Senior Living



0.27%

Primary/Secondary Ed. - Public



0.26%

Industrial Development - Industry



0.19%

SUBTOTAL



55.38%

Tax Supported





Special Tax



18.08%

State G.O.



6.60%

Local G.O.



3.72%

Assessment District



2.07%

Tax-Supported State Lease



1.68%

Tax-Supported Local Lease



0.79%

SUBTOTAL



32.94%

Prerefunded/ETM



7.91%

Cash Equivalents





Investment Companies



2.99%

SUBTOTAL



2.99%

Insured/Guaranteed





Guaranteed



0.78%

SUBTOTAL



0.78%

Total



100.00%







State Breakdown



Portfolio %

New York



11.74%

California



10.85%

Pennsylvania



8.21%

Illinois



7.38%

New Jersey



7.03%

Michigan



6.82%

Texas



6.04%

Connecticut



5.36%

Florida



4.25%

South Carolina



3.04%

Massachusetts



2.43%

Alabama



2.38%

Nebraska



1.93%

Wisconsin



1.63%

North Carolina



1.58%

Minnesota



1.47%

Oklahoma



1.46%

Tennessee



1.19%

Utah



1.18%

Hawaii



1.16%

Colorado



1.11%

Maryland



1.09%

District of Columbia



0.99%

Georgia



0.92%

Ohio



0.91%

Kansas



0.85%

Kentucky



0.82%

Oregon



0.77%

Arizona



0.68%

West Virginia



0.65%

Puerto Rico



0.38%

Arkansas



0.32%

Indiana



0.20%

Iowa



0.19%

Other



2.99%

Total Investments



100.00%







Credit Quality Breakdown



Portfolio %

AAA



8.05%

AA



30.17%

A



36.13%

BBB



12.62%

BB



0.49%

B



0.19%

CC



0.26%

D



0.00%

Not Rated



1.19%

Pre-refunded Bonds



7.91%

Short-Term Investments



2.99%

Total Investments



100.00%







Bonds By Maturity



Portfolio %

Less than 1 year



2.99%

1 to 5 years



0.99%

5 to 10 years



15.59%

10 to 20 years



40.58%

20 to 30 years



34.64%

More Than 30 years



4.54%

Other



0.67%

Total Investments



100.00%







Portfolio Statistics:





AMT Percent:



10.30%

Average Coupon:



4.97%

Percentage of Leverage:





Bank Borrowing:



0.00%

Investment Operations:



0.00%

Auction Preferred Shares (APS):



0.42%

Tender Option Bonds:



3.96%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

34.63%

Total Fund Leverage:



39.01%*

Average Effective Maturity:



5.57  Years

Effective Duration:



4.86  Years

Total Net Assets:



$438.96 Million**

Common Stock Net Asset Value:



$15.18

Number of Holdings:



156

Portfolio Turnover:



22%









* The total percentage of leverage constitutes 3.96% through the use of tender option bonds, 0.420% in issued and outstanding APS,34.63%  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.













** Includes $2,750,000 of APS at liquidation value.The Fund also had outstanding $229,375,000 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-300906457.html

SOURCE AllianceBernstein National Municipal Income Fund

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