AllianceBernstein National Municipal Income Fund, Inc. Releases Monthly Portfolio Update
July 26, 2022 at 04:07 pm EDT
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NEW YORK, July 26, 2022 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of June 30, 2022.
AllianceBernstein National Municipal Income Fund, Inc.
Top 10 Fixed-Income Holdings
Portfolio %
1) Metropolitan Transportation Authority Series 2016-2 5.25%, 11/15/35
2.45 %
2) State of Connecticut Special Tax Revenue Series 2012-A 5.00%, 01/01/29
2.25 %
3) Jefferson County Board of Education/AL Series 2018 5.00%, 02/01/46
1.73 %
4) Central Plains Energy Project Series 2017-A 5.00%, 09/01/42
1.70 %
5) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48
1.67 %
6) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58
1.66 %
7) Los Angeles Department of Water & Power Power System Revenue Series 2013-B 5.00%, 07/01/30
1.65 %
8) Wisconsin Public Finance Authority Series 2022 5.00%, 02/01/62
1.61 %
9) Miami Beach Health Facilities Authority Series 2014 5.00%, 11/15/39
1.51 %
10) Virginia Small Business Financing Authority Series 2022 3.00%, 01/01/41
1.49 %
Sector/Industry Breakdown
Portfolio %
Revenue
Health Care - Not-for-Profit
21.76 %
Toll Roads/Transit
8.38 %
Airport
7.70 %
Revenue - Miscellaneous
5.68 %
Electric Utility
5.25 %
Higher Education - Private
2.84 %
Tobacco Securitization
2.70 %
Industrial Development - Industry
2.55 %
Prepay Energy
2.54 %
Water & Sewer
2.25 %
Primary/Secondary Ed. - Public
1.34 %
Port
0.69 %
Industrial Development - Utility
0.49 %
Higher Education - Public
0.47 %
Senior Living
0.22 %
SUBTOTAL
64.86 %
Tax Supported
Special Tax
15.91 %
State G.O.
7.89 %
Local G.O.
1.83 %
State Lease
1.11 %
SUBTOTAL
26.74 %
Prerefunded/ETM
7.04 %
Asset-Backed
Housing - Multi-Family
0.61 %
SUBTOTAL
0.61 %
Commercial Mortgage-Backed Securities
0.45 %
Cash & Cash Equivalents
Funds and Investment Trusts
0.30 %
SUBTOTAL
0.30 %
Total
100.00 %
State Breakdown
Portfolio %
California
11.24 %
Illinois
11.01 %
New York
8.41 %
Pennsylvania
7.61 %
New Jersey
6.10 %
Wisconsin
5.92 %
Florida
5.24 %
Connecticut
4.82 %
Texas
3.95 %
South Carolina
2.98 %
Michigan
2.96 %
Alabama
2.42 %
Virginia
2.20 %
Ohio
2.10 %
North Carolina
1.95 %
Colorado
1.81 %
Georgia
1.73 %
Oklahoma
1.71 %
Nebraska
1.70 %
Minnesota
1.45 %
Tennessee
1.43 %
Arizona
1.38 %
Utah
1.16 %
Maryland
1.09 %
District of Columbia
0.99 %
Iowa
0.95 %
Kentucky
0.85 %
Kansas
0.83 %
Indiana
0.66 %
West Virginia
0.64 %
New Hampshire
0.58 %
Puerto Rico
0.51 %
Hawaii
0.41 %
Arkansas
0.33 %
Louisiana
0.18 %
Washington
0.14 %
Massachusetts
0.13 %
South Dakota
0.13 %
Other
0.30 %
Total Investments
100.00 %
Credit Quality Breakdown
Portfolio %
AAA
4.70 %
AA
28.11 %
A
33.80 %
BBB
22.35 %
BB
2.76 %
D
0.21 %
Not Rated
0.73 %
Pre-refunded Bonds
7.04 %
Short Term Investments
0.30 %
Total
100.00 %
Bonds by Maturity
Portfolio %
Less than 1 Year
2.21 %
1 To 5 Years
6.03 %
5 To 10 Years
15.79 %
10 To 20 Years
30.51 %
20 To 30 Years
37.31 %
More than 30 Years
8.15 %
Other
0.00 %
Total Net Assets
100.00 %
Portfolio Statistics:
AMT Percent:
11.62 %
Average Coupon:
4.81 %
Percentage of Leverage:
Bank Borrowing:
0.00 %
Investment Operations:
1.86 %
Auction Preferred Shares (APS):
0.00 %
Tender Option Bonds:
4.47 %
VMTP Shares:
39.61 %
Total Fund Leverage:
45.94%*
Average Maturity:
7.24 Years
Effective Duration:
5.69 Years
Total Net Assets:
$362.58 Million**
Common Stock Net Asset Value:
$12.61
Total Number of Holdings:
190
Portfolio Turnover:
5.00 %
* The total percentage of leverage constitutes 4.47% through the use of tender option bonds, 39.61% in issued and outstanding VMTPs and 1.86% 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.
AllianceBernstein National Municipal Income Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide high current income exempt from regular federal income tax. The Fund is focused on investing approximately 80%, and normally substantially all, of its net assets in municipal securities paying interest that is exempt from regular federal income tax. The Fund also normally invest at least 75% of its assets in investment-grade municipal securities or unrated municipal securities. The Fund may invest up to 25% of its net assets in municipal bonds rated below investment-grade and unrated municipal bonds. The Fund also invests in securities of other open- or closed-end investment companies that invest primarily in municipal bonds of the types in which the Fund invests directly. The Fund's investment adviser is AllianceBernstein L.P.