NEW YORK, June 27, 2023 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of May 31, 2023.
AllianceBernstein National Municipal Income Fund, Inc.
Top 10 Fixed-Income Holdings |
| Portfolio % |
1) Jefferson County Board of Education/AL Series 2018 5.00%, 02/01/46 |
| 1.81 % |
2) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58 |
| 1.78 % |
3) City of El Paso TX Series 2021-C 4.00%, 08/15/47 |
| 1.75 % |
4) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48 |
| 1.74 % |
5) Los Angeles Department of Water & Power Power System Revenue Series 2013-B 5.00%, 07/01/30 |
| 1.74 % |
6) Detroit City School District Series 2001-A 6.00%, 05/01/29 |
| 1.70 % |
7) Tobacco Settlement Financing Corp./NJ Series 2018-A 5.25%, 06/01/46 |
| 1.62 % |
8) Wisconsin Public Finance Authority Series 2022 5.00%, 02/01/62 |
| 1.62 % |
9) Virginia Small Business Financing Authority Series 2022 3.00%, 01/01/41 |
| 1.58 % |
10) Metropolitan Pier & Exposition Authority Series 2020 5.00%, 06/15/50 |
| 1.53 % |
|
|
|
Sector/Industry Breakdown |
| Portfolio % |
Revenue |
|
|
Health Care - Not-for-Profit |
| 19.32 % |
Airport |
| 10.00 % |
Revenue - Miscellaneous |
| 7.90 % |
Toll Roads/Transit |
| 6.29 % |
Higher Education - Private |
| 2.98 % |
Tobacco Securitization |
| 2.94 % |
Electric Utility |
| 2.74 % |
Industrial Development - Industry |
| 2.66 % |
Prepay Energy |
| 2.40 % |
Primary/Secondary Ed. - Public |
| 2.33 % |
Port |
| 0.87 % |
Industrial Development - Utility |
| 0.53 % |
Water & Sewer |
| 0.41 % |
Senior Living |
| 0.23 % |
SUBTOTAL |
| 61.60 % |
Tax Supported |
|
|
Special Tax |
| 9.79 % |
Local G.O. |
| 9.66 % |
State G.O. |
| 7.50 % |
State Lease |
| 1.22 % |
SUBTOTAL |
| 28.17 % |
Prerefunded/ETM |
| 6.90 % |
Commercial Mortgage-Backed Securities |
| 1.60 % |
Cash & Cash Equivalents |
|
|
Funds and Investment Trusts |
| 1.22 % |
SUBTOTAL |
| 1.22 % |
Insured/Guaranteed |
|
|
Guaranteed |
| 0.51 % |
SUBTOTAL |
| 0.51 % |
Total |
| 100.00 % |
|
|
|
State Breakdown |
| Portfolio % |
Illinois |
| 11.74 % |
New Jersey |
| 8.17 % |
California |
| 7.89 % |
Pennsylvania |
| 7.54 % |
Wisconsin |
| 6.08 % |
New York |
| 5.77 % |
Florida |
| 5.53 % |
Michigan |
| 5.19 % |
Texas |
| 5.07 % |
South Carolina |
| 3.14 % |
Connecticut |
| 2.71 % |
North Carolina |
| 2.42 % |
Virginia |
| 2.33 % |
Ohio |
| 2.25 % |
Alabama |
| 1.98 % |
Arizona |
| 1.95 % |
Georgia |
| 1.82 % |
Minnesota |
| 1.73 % |
Maryland |
| 1.56 % |
Oklahoma |
| 1.54 % |
New Hampshire |
| 1.46 % |
Nevada |
| 1.42 % |
Colorado |
| 1.29 % |
Utah |
| 1.24 % |
Iowa |
| 1.03 % |
Nebraska |
| 0.88 % |
Kansas |
| 0.87 % |
Hawaii |
| 0.81 % |
West Virginia |
| 0.67 % |
Washington |
| 0.52 % |
Louisiana |
| 0.50 % |
Indiana |
| 0.48 % |
Arkansas |
| 0.35 % |
Oregon |
| 0.21 % |
District of Columbia |
| 0.18 % |
Massachusetts |
| 0.13 % |
South Dakota |
| 0.13 % |
Puerto Rico |
| 0.10 % |
Tennessee |
| 0.07 % |
Kentucky |
| 0.03 % |
Other |
| 1.22 % |
Total Investments |
| 100.00 % |
|
|
|
Credit Quality Breakdown |
| Portfolio % |
AAA |
| 2.93 % |
AA |
| 30.43 % |
A |
| 34.18 % |
BBB |
| 19.66 % |
BB |
| 2.08 % |
B |
| 0.99 % |
D |
| 0.23 % |
Not Rated |
| 0.33 % |
Pre-refunded Bonds |
| 6.90 % |
Short Term Investments |
| 2.27 % |
Total |
| 100.00 % |
|
|
|
Bonds by Maturity |
| Portfolio % |
Less than 1 Year |
| 6.44 % |
1 To 5 Years |
| 7.26 % |
5 To 10 Years |
| 9.14 % |
10 To 20 Years |
| 23.82 % |
20 To 30 Years |
| 40.69 % |
More than 30 Years |
| 12.65 % |
Other |
| 0.00 % |
Total Net Assets |
| 100.00 % |
|
|
|
Portfolio Statistics: |
|
|
AMT Percent: |
| 15.61 % |
Average Coupon: |
| 4.42 % |
Percentage of Leverage: |
|
|
Bank Borrowing: |
| 0.00 % |
Investment Operations: |
| 0.00 % |
Auction Preferred Shares (APS): |
| 0.00 % |
Tender Option Bonds: |
| 0.00 % |
VMTP Shares: |
| 40.32 % |
Total Fund Leverage: |
| 40.32%* |
Average Maturity: |
| 9.64 Years |
Effective Duration: |
| 6.58 Years |
Total Net Assets: |
| $351.44 Million** |
Common Stock Net Asset Value: |
| $12.23 |
Total Number of Holdings: |
| 188 |
Portfolio Turnover: |
| 18.00 % |
* The total percentage of leverage constitutes 0.00% through the use of tender option bonds, 40.32% 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.
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SOURCE AllianceBernstein National Municipal Income Fund, Inc.