AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, March 23, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. AFB (the "Fund") today released its monthly portfolio update as of February 29, 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

2.52%

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

2.14%

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

2.06%

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

1.93%

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

1.70%

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

1.66%

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

1.58%

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

1.56%

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

1.52%

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

1.49%







Sector/Industry Breakdown



Portfolio %

Revenue





Health Care - Not-for-Profit



19.74%

Airport



8.68%

Toll Roads/Transit



6.92%

Revenue - Miscellaneous



4.71%

Electric Utility



4.70%

Water & Sewer



2.89%

Prepay Energy



2.70%

Tobacco Securitization



1.52%

Higher Education - Public



1.03%

Industrial Development - Utility



0.98%

Higher Education - Private



0.76%

Port



0.68%

Senior Living



0.26%

Primary/Secondary Ed. - Public



0.26%

Industrial Development - Industry



0.19%

SUBTOTAL



56.02%

Tax Supported





Special Tax



18.04%

State G.O.



7.72%

Local G.O.



3.25%

Tax-Supported State Lease



2.40%

Assessment District



2.04%

Tax-Supported Local Lease



0.57%

SUBTOTAL



34.02%

Prerefunded/ETM



7.79%

Cash Equivalents





Investment Companies



1.08%

SUBTOTAL



1.08%

Insured/Guaranteed





Guaranteed



0.76%

SUBTOTAL



0.76%

Asset-Backed





Housing - Multi-Family



0.33%

SUBTOTAL



0.33%

Total



100.00%







State Breakdown



Portfolio %

New York



11.38%

California



10.35%

Illinois



10.20%

Pennsylvania



7.77%

New Jersey



7.67%

Connecticut



5.40%

Florida



5.35%

Texas



4.54%

Michigan



4.28%

South Carolina



3.05%

Alabama



2.38%

Massachusetts



2.31%

Nebraska



2.06%

Colorado



1.81%

Oklahoma



1.76%

Wisconsin



1.66%

North Carolina



1.59%

Minnesota



1.51%

Tennessee



1.38%

Utah



1.18%

Hawaii



1.11%

Georgia



1.08%

Maryland



1.08%

Ohio



1.03%

District of Columbia



0.95%

Guam



0.84%

Kansas



0.84%

Kentucky



0.81%

Oregon



0.73%

Arizona



0.65%

West Virginia



0.65%

Puerto Rico



0.51%

Arkansas



0.32%

Indiana



0.19%

Iowa



0.19%

Louisiana



0.17%

New Hampshire



0.14%

Other



1.08%

Total Investments



100.00%







Credit Quality Breakdown



Portfolio %

AAA



5.81%

AA



29.37%

A



36.98%

BBB



15.70%

BB



1.72%

D



0.26%

Not Rated



1.29%

Pre-refunded Bonds



7.79%

Short-Term Investments



1.08%

Total Investments



100.00%







Bonds By Maturity



Portfolio %

Less than 1 year



1.08%

1 to 5 years



0.91%

5 to 10 years



16.41%

10 to 20 years



43.30%

20 to 30 years



32.27%

More Than 30 years



6.03%

Other



0.00%

Total Investments



100.00%







Portfolio Statistics:





AMT Percent:



10.46%

Average Coupon:



5.18%

Percentage of Leverage:





Bank Borrowing:



0.00%

Investment Operations:



1.58%

Auction Preferred Shares (APS):



0.00%

Tender Option Bonds:



3.84%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

33.97%

Total Fund Leverage:



39.39%*

Average Effective Maturity:



5.64  Years

Effective Duration:



5.02  Years

Total Net Assets:



$457.77 Million**

Common Stock Net Asset Value:



$15.62

Number of Holdings:



172

Portfolio Turnover:



14%

 

* The total percentage of leverage constitutes 3.84% through the use of tender option bonds, 33.97%  in issued and outstanding VMTPs and 1.580% 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-301028517.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

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