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AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, June 29, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of May 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

2.46%

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

2.26%

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

2.08%

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

1.96%

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

1.78%

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

1.70%

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

1.70%

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

1.70%

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.    Series 2018A  5.00%, 6/01/46

1.48%




Sector/Industry Breakdown


Portfolio %

Revenue



Health Care - Not-for-Profit


19.65%

Airport


8.87%

Toll Roads/Transit


7.05%

Electric Utility


4.94%

Revenue - Miscellaneous


4.68%

Water & Sewer


3.10%

Prepay Energy


2.65%

Tobacco Securitization


1.48%

Higher Education - Public


1.11%

Higher Education - Private


0.73%

Port


0.72%

Industrial Development - Utility


0.47%

Primary/Secondary Ed. - Public


0.27%

Senior Living


0.23%

Industrial Development - Industry


0.18%

SUBTOTAL


56.13%

Tax Supported



Special Tax


18.51%

State G.O.


7.57%

Local G.O.


3.35%

Tax-Supported State Lease


2.24%

Assessment District


2.21%

Tax-Supported Local Lease


0.56%

SUBTOTAL


34.44%

Prerefunded/ETM


7.74%

Insured/Guaranteed



Guaranteed


0.81%

SUBTOTAL


0.81%

Cash Equivalents



Investment Companies


0.58%

SUBTOTAL


0.58%

Collateralized Mortgage Obligations


0.30%

Total


100.00%




State Breakdown


Portfolio %

New York


11.71%

California


11.01%

Illinois


9.56%

Pennsylvania


7.82%

New Jersey


7.59%

Connecticut


5.64%

Florida


5.52%

Texas


4.77%

Michigan


4.03%

South Carolina


3.08%

Alabama


2.50%

Massachusetts


2.48%

Nebraska


1.96%

Colorado


1.85%

Oklahoma


1.79%

Wisconsin


1.70%

North Carolina


1.56%

Minnesota


1.49%

Tennessee


1.31%

Utah


1.18%

Hawaii


1.17%

Georgia


1.10%

Maryland


1.09%

District of Columbia


1.02%

Ohio


1.00%

Guam


0.87%

Kansas


0.86%

Kentucky


0.83%

Arizona


0.70%

West Virginia


0.65%

Puerto Rico


0.48%

Arkansas


0.33%

Indiana


0.20%

Iowa


0.18%

Louisiana


0.16%

New Hampshire


0.12%

Oregon


0.11%

Other


0.58%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


6.20%

AA


29.23%

A


36.97%

BBB


16.64%

BB


1.66%

D


0.27%

Not Rated


0.71%

Pre-refunded Bonds


7.74%

Short-Term Investments


0.58%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.58%

1 to 5 years


1.08%

5 to 10 years


17.67%

10 to 20 years


42.49%

20 to 30 years


32.42%

More Than 30 years


5.76%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



Average Coupon:


5.07%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.00%

Auction Preferred Shares (APS):


0.00%

Tender Option Bonds:


4.11%

Variable Rate MuniFund Term Preferred Shares (VMTPs):


36.34%

Total Fund Leverage:


40.45%*

Average Effective Maturity:


5.86  Years

Effective Duration:


4.98  Years

Total Net Assets:


$417.27 Million**

Common Stock Net Asset Value:


$14.52

Number of Holdings:


169

Portfolio Turnover:


14%


* The total percentage of leverage constitutes 4.11% through the use of tender option bonds, 36.34%  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

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SOURCE AllianceBernstein National Municipal Income Fund, Inc.