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AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Nov. 22, 2019 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of October 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

2.56%

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

2.00%

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

1.72%

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

1.68%

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

1.65%

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

1.61%

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

1.51%

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

1.49%




Sector/Industry Breakdown


Portfolio %

Revenue



Health Care - Not-for-Profit


19.02%

Airport


8.88%

Toll Roads/Transit


7.37%

Electric Utility


4.85%

Revenue - Miscellaneous


4.77%

Water & Sewer


3.02%

Prepay Energy


2.68%

Higher Education - Public


1.74%

Port


1.52%

Tobacco Securitization


1.49%

Industrial Development - Utility


1.03%

Higher Education - Private


0.71%

Senior Living


0.27%

Primary/Secondary Ed. - Public


0.27%

Industrial Development - Industry


0.19%

SUBTOTAL


57.81%

Tax Supported



Special Tax


19.06%

State G.O.


6.64%

Local G.O.


3.32%

Tax-Supported State Lease


2.39%

Assessment District


2.10%

Tax-Supported Local Lease


0.58%

SUBTOTAL


34.09%

Prerefunded/ETM


7.02%

Insured/Guaranteed



Guaranteed


0.79%

SUBTOTAL


0.79%

Cash Equivalents



Investment Companies


0.29%

SUBTOTAL


0.29%

Total


100.00%




State Breakdown


Portfolio %

New York


11.75%

California


10.60%

Pennsylvania


7.85%

New Jersey


7.77%

Illinois


7.69%

Michigan


6.85%

Florida


5.44%

Connecticut


5.37%

Texas


4.95%

South Carolina


3.07%

Massachusetts


2.42%

Alabama


2.40%

Nebraska


2.00%

Wisconsin


1.68%

North Carolina


1.61%

Minnesota


1.50%

Oklahoma


1.48%

Tennessee


1.39%

Colorado


1.25%

Utah


1.19%

Hawaii


1.16%

Maryland


1.11%

Georgia


1.10%

Ohio


1.04%

District of Columbia


0.99%

Guam


0.88%

Kansas


0.86%

Kentucky


0.84%

Oregon


0.77%

Arizona


0.68%

West Virginia


0.66%

Puerto Rico


0.48%

Arkansas


0.32%

Indiana


0.20%

Iowa


0.19%

Louisiana


0.17%

Other


0.29%

Total Investments


100.00%




Credit Quality Breakdown


Portfolio %

AAA


8.04%

AA


30.96%

A


37.99%

BBB


12.28%

BB


1.55%

B


0.19%

CC


0.27%

D


0.00%

Not Rated


1.41%

Pre-refunded Bonds


7.02%

Short-Term Investments


0.29%

Total Investments


100.00%




Bonds By Maturity


Portfolio %

Less than 1 year


0.29%

1 to 5 years


0.95%

5 to 10 years


15.05%

10 to 20 years


42.95%

20 to 30 years


35.97%

More Than 30 years


4.79%

Other


0.00%

Total Investments


100.00%




Portfolio Statistics:



AMT Percent:


10.33%

Average Coupon:


5.13%

Percentage of Leverage:



Bank Borrowing:


0.00%

Investment Operations:


0.12%

Auction Preferred Shares (APS):


0.00%

Tender Option Bonds:


3.97%

Variable Rate MuniFund Term Preferred Shares (VMTPs):

35.13%

Total Fund Leverage:


39.22%*

Average Effective Maturity:


5.68  Years

Effective Duration:


4.98  Years

Total Net Assets:


$437.84 Million**

Common Stock Net Asset Value:


$15.23

Number of Holdings:


169

Portfolio Turnover:


22%





* The total percentage of leverage constitutes 3.97% through the use of tender option bonds, 35.13%  in issued and outstanding VMTPs and 0.120% 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