AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update
NEW YORK, Oct. 26, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of September 30,2020.
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 |
2.47% |
2) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.23% |
3) Central Plains Energy Project (Goldman Sachs Group, Inc. (The)) Series 2017A 5.00%, 9/01/42 |
2.02% |
4) Massachusetts School Building Authority Series 2011B 5.00%, 10/15/32 (Prerefunded/ETM) |
2.00% |
5) Jefferson County Board of Education/AL Series 2018 5.00%, 2/01/46 |
1.74% |
6) Wisconsin Public Finance Authority(CHF - Wilmington LLC) AGM 5.00%, 7/01/58 |
1.69% |
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 |
1.63% |
9) Tobacco Settlement Financing Corp. Series 2018A 5.00%, 6/01/46 |
1.53% |
10) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.49% |
Sector/Industry Breakdown |
Portfolio % |
Revenue |
|
Health Care - Not-for-Profit |
20.96% |
Airport |
8.09% |
Toll Roads/Transit |
6.98% |
Electric Utility |
4.88% |
Revenue - Miscellaneous |
4.76% |
Water & Sewer |
3.01% |
Prepay Energy |
2.70% |
Tobacco Securitization |
1.53% |
Higher Education - Public |
1.07% |
Primary/Secondary Ed. - Public |
0.93% |
Higher Education - Private |
0.74% |
Port |
0.71% |
Industrial Development - Utility |
0.47% |
Senior Living |
0.24% |
Industrial Development - Industry |
0.19% |
SUBTOTAL |
57.26% |
Tax Supported |
|
Special Tax |
17.94% |
State G.O. |
7.56% |
Local G.O. |
3.32% |
Tax-Supported State Lease |
2.36% |
Assessment District |
2.13% |
Tax-Supported Local Lease |
0.57% |
SUBTOTAL |
33.88% |
Prerefunded/ETM |
7.35% |
Insured/Guaranteed |
|
Guaranteed |
0.79% |
SUBTOTAL |
0.79% |
Cash Equivalents |
|
Investment Companies |
0.41% |
SUBTOTAL |
0.41% |
Asset-Backed |
|
Housing - Multi-Family |
0.31% |
SUBTOTAL |
0.31% |
Total |
100.00% |
State Breakdown |
Portfolio % |
New York |
12.51% |
California |
10.73% |
Illinois |
9.83% |
New Jersey |
7.74% |
Pennsylvania |
7.32% |
Connecticut |
5.57% |
Florida |
5.48% |
Texas |
4.68% |
Michigan |
3.91% |
South Carolina |
3.14% |
Alabama |
2.45% |
Massachusetts |
2.40% |
Nebraska |
2.02% |
Minnesota |
1.91% |
Colorado |
1.86% |
Oklahoma |
1.78% |
Wisconsin |
1.69% |
North Carolina |
1.62% |
Tennessee |
1.37% |
Arizona |
1.33% |
Utah |
1.18% |
Georgia |
1.10% |
Maryland |
1.10% |
Ohio |
1.04% |
District of Columbia |
0.99% |
Kansas |
0.87% |
Guam |
0.86% |
Kentucky |
0.83% |
West Virginia |
0.67% |
Puerto Rico |
0.50% |
Hawaii |
0.42% |
Arkansas |
0.32% |
Indiana |
0.19% |
Iowa |
0.19% |
Louisiana |
0.17% |
New Hampshire |
0.13% |
Oregon |
0.10% |
Total Investments |
100.00% |
Credit Quality Breakdown |
Portfolio % |
AAA |
5.63% |
AA |
28.53% |
A |
38.11% |
BBB |
17.26% |
BB |
1.70% |
D |
0.27% |
Not Rated |
0.74% |
Pre-refunded Bonds |
7.35% |
Short-Term Investments |
0.41% |
Total Investments |
100.00% |
Bonds By Maturity |
Portfolio % |
Less than 1 year |
0.41% |
1 to 5 years |
1.06% |
5 to 10 years |
22.10% |
10 to 20 years |
36.29% |
20 to 30 years |
35.09% |
More Than 30 years |
5.05% |
Other |
0.00% |
Total Investments |
100.00% |
Portfolio Statistics: |
|
AMT Percent: |
10.16% |
Average Coupon: |
5.09% |
Percentage of Leverage: |
|
Bank Borrowing: |
0.00% |
Investment Operations: |
0.62% |
Auction Preferred Shares (APS): |
0.00% |
Tender Option Bonds: |
4.03% |
Variable Rate MuniFund Term Preferred Shares (VMTPs): |
35.67% |
Total Fund Leverage: |
40.32%* |
Average Effective Maturity: |
5.29 Years |
Effective Duration: |
4.67 Years |
Total Net Assets: |
$432.56 Million** |
Common Stock Net Asset Value: |
$15.05 |
Number of Holdings: |
171 |
Portfolio Turnover: |
14% |
* The total percentage of leverage constitutes 4.03% through the use of tender option bonds, 35.67% in issued and outstanding VMTPs and 0.620% 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.
SOURCE AllianceBernstein National Municipal Income Fund, Inc.
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