NEW YORK, Nov. 23, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of October 31, 2020.
AllianceBernstein National Municipal Income Fund, Inc.
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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 | 2.00% |
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 | 1.64% |
9) Tobacco Settlement Financing Corp./NJ 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% |
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Sector/Industry Breakdown |
| Portfolio % |
Revenue |
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Health Care - Not-for-Profit |
| 20.97% |
Airport |
| 8.08% |
Toll Roads/Transit |
| 7.00% |
Electric Utility |
| 4.89% |
Revenue - Miscellaneous |
| 4.77% |
Water & Sewer |
| 3.01% |
Prepay Energy |
| 2.68% |
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 |
| 57.28% |
Tax Supported |
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Special Tax |
| 17.98% |
State G.O. |
| 7.61% |
Local G.O. |
| 3.32% |
Tax-Supported State Lease |
| 2.36% |
Assessment District |
| 2.13% |
Tax-Supported Local Lease |
| 0.56% |
SUBTOTAL |
| 33.96% |
Prerefunded/ETM |
| 7.36% |
Insured/Guaranteed |
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Guaranteed |
| 0.79% |
SUBTOTAL |
| 0.79% |
Asset-Backed |
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Housing - Multi-Family |
| 0.32% |
SUBTOTAL |
| 0.32% |
Cash Equivalents |
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Investment Companies |
| 0.29% |
SUBTOTAL |
| 0.29% |
Total |
| 100.00% |
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State Breakdown |
| Portfolio % |
New York |
| 12.55% |
California |
| 10.73% |
Illinois |
| 9.86% |
New Jersey |
| 7.73% |
Pennsylvania |
| 7.34% |
Connecticut |
| 5.58% |
Florida |
| 5.49% |
Texas |
| 4.68% |
Michigan |
| 3.93% |
South Carolina |
| 3.15% |
Alabama |
| 2.44% |
Massachusetts |
| 2.40% |
Nebraska |
| 2.00% |
Colorado |
| 1.85% |
Minnesota |
| 1.79% |
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 |
| 1.05% |
District of Columbia |
| 0.99% |
Guam |
| 0.87% |
Kansas |
| 0.86% |
Kentucky |
| 0.83% |
West Virginia |
| 0.67% |
Puerto Rico |
| 0.50% |
Hawaii |
| 0.42% |
Arkansas |
| 0.33% |
Indiana |
| 0.20% |
Iowa |
| 0.19% |
Louisiana |
| 0.17% |
New Hampshire |
| 0.13% |
Oregon |
| 0.10% |
Total Investments |
| 100.00% |
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Credit Quality Breakdown |
| Portfolio % |
AAA |
| 5.65% |
AA |
| 28.54% |
A |
| 38.13% |
BBB |
| 17.30% |
BB |
| 1.70% |
D |
| 0.28% |
Not Rated |
| 0.75% |
Pre-refunded Bonds |
| 7.36% |
Short-Term Investments |
| 0.29% |
Total Investments |
| 100.00% |
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Bonds By Maturity |
| Portfolio % |
Less than 1 year |
| 0.29% |
1 to 5 years |
| 1.21% |
5 to 10 years |
| 21.99% |
10 to 20 years |
| 36.40% |
20 to 30 years |
| 35.06% |
More Than 30 years |
| 5.05% |
Other |
| 0.00% |
Total Investments |
| 100.00% |
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Portfolio Statistics: |
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AMT Percent: |
| 10.13% |
Average Coupon: |
| 5.06% |
Percentage of Leverage: |
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Bank Borrowing: |
| 0.00% |
Investment Operations: |
| 0.00% |
Auction Preferred Shares (APS): |
| 0.00% |
Tender Option Bonds: |
| 4.03% |
Variable Rate MuniFund Term Preferred Shares (VMTPs): | 35.69% |
Total Fund Leverage: |
| 39.72%* |
Average Effective Maturity: |
| 5.27 Years |
Effective Duration: |
| 4.67 Years |
Total Net Assets: |
| $429.46 Million** |
Common Stock Net Asset Value: |
| $14.94 |
Number of Holdings: |
| 171 |
Portfolio Turnover: |
| 14% |
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* The total percentage of leverage constitutes 4.03% through the use of tender option bonds, 35.69% 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. |
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** 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. |
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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.