PR Newswire | Oct 26, 2020 04:06PM EDT

Update

10/26 15:06 CDT

AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update NEW YORK, Oct. 26, 2020

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 2.47%Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35

2) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1 2.23%/01/29

3) Central Plains Energy Project (Goldman Sachs Group, Inc. (The)) 2.02%Series 2017A 5.00%, 9/01/42

4) Massachusetts School Building Authority Series 2011B 5.00%, 2.00%10/15/32 (Prerefunded/ETM)

5) Jefferson County Board of Education/AL Series 2018 5.00%, 2/ 1.74%01/46

6) Wisconsin Public Finance Authority(CHF - Wilmington LLC) AGM 1.69%5.00%, 7/01/58

7) Los Angeles Department of Water & Power Power System Revenue 1.65%Series 2013B 5.00%, 7/01/30

8) Detroit Downtown Development Authority AGM Series 2018A 5.00%, 1.63%7/01/48

9) Tobacco Settlement Financing Corp. Series 2018A 5.00%, 6/01/ 1.53%46

10) Miami Beach Health Facilities Authority (Mount Sinai Medical 1.49%Center of Florida, Inc.) Series 2014 5.00%, 11/15/39

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.

View original content: http://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-releases-monthly-portfolio-update-301159895.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.