PR Newswire
NEW YORK, Aug. 29, 2023
NEW YORK, Aug. 29, 2023 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of July 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 | 1.78 % | |
2) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58 | 1.76 % | |
3) City of El Paso TX Series 2021-C 4.00%, 08/15/47 | 1.76 % | |
4) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48 | 1.72 % | |
5) Detroit City School District Series 2001-A 6.00%, 05/01/29 | 1.68 % | |
6) Wisconsin Public Finance Authority Series 2022 5.00%, 02/01/62 | 1.68 % | |
7) Tobacco Settlement Financing Corp./NJ Series 2018-A 5.25%, 06/01/46 | 1.60 % | |
8) Virginia Small Business Financing Authority Series 2022 3.00%, 01/01/41 | 1.59 % | |
9) Metropolitan Pier & Exposition Authority Series 2020 5.00%, 06/15/50 | 1.52 % | |
10) Pennsylvania Economic Development Financing Authority Series 2022 5.75%, 12/31/62 | 1.43 % | |
Sector/Industry Breakdown | Portfolio % | |
Revenue | ||
Health Care - Not-for-Profit | 19.19 % | |
Airport | 9.90 % | |
Revenue - Miscellaneous | 7.85 % | |
Toll Roads/Transit | 6.29 % | |
Higher Education - Private | 2.96 % | |
Tobacco Securitization | 2.95 % | |
Electric Utility | 2.73 % | |
Industrial Development - Industry | 2.70 % | |
Prepay Energy | 2.41 % | |
Primary/Secondary Ed. - Public | 2.32 % | |
Port | 0.87 % | |
Industrial Development - Utility | 0.53 % | |
Water & Sewer | 0.40 % | |
Senior Living | 0.23 % | |
SUBTOTAL | 61.33 % | |
Tax Supported | ||
Special Tax | 9.71 % | |
Local G.O. | 9.61 % | |
State G.O. | 5.36 % | |
State Lease | 1.22 % | |
SUBTOTAL | 25.90 % | |
Cash & Cash Equivalents | ||
Funds and Investment Trusts | 5.84 % | |
SUBTOTAL | 5.84 % | |
Prerefunded/ETM | 4.34 % | |
Commercial Mortgage-Backed Securities | 1.61 % | |
Insured/Guaranteed | ||
Guaranteed | 0.50 % | |
SUBTOTAL | 0.50 % | |
Asset-Backed | ||
Housing - Multi-Family | 0.48 % | |
SUBTOTAL | 0.48 % | |
Total | 100.00 % | |
State Breakdown | Portfolio % | |
Illinois | 11.69 % | |
New Jersey | 8.07 % | |
Pennsylvania | 7.52 % | |
Wisconsin | 6.12 % | |
Florida | 5.50 % | |
California | 5.16 % | |
Michigan | 5.13 % | |
New York | 5.09 % | |
Texas | 5.03 % | |
South Carolina | 3.11 % | |
North Carolina | 2.38 % | |
Virginia | 2.35 % | |
Ohio | 2.26 % | |
Arizona | 1.96 % | |
Alabama | 1.94 % | |
Georgia | 1.80 % | |
Minnesota | 1.70 % | |
Maryland | 1.55 % | |
Oklahoma | 1.52 % | |
New Hampshire | 1.48 % | |
Connecticut | 1.44 % | |
Nevada | 1.43 % | |
Colorado | 1.28 % | |
Utah | 1.23 % | |
Iowa | 1.02 % | |
Nebraska | 0.89 % | |
Kansas | 0.87 % | |
Hawaii | 0.80 % | |
West Virginia | 0.68 % | |
Washington | 0.51 % | |
Louisiana | 0.49 % | |
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 | 6.32 % | |
Total Investments | 100.00 % | |
Credit Quality Breakdown | Portfolio % | |
AAA | 2.89 % | |
AA | 28.95 % | |
A | 33.14 % | |
BBB | 19.83 % | |
BB | 2.45 % | |
B | 0.98 % | |
D | 0.22 % | |
Not Rated | 0.33 % | |
Pre-refunded Bonds | 4.34 % | |
Short Term Investments | 6.87 % | |
Total | 100.00 % | |
Bonds by Maturity | Portfolio % | |
Less than 1 Year | 9.25 % | |
1 To 5 Years | 5.21 % | |
5 To 10 Years | 8.20 % | |
10 To 20 Years | 26.36 % | |
20 To 30 Years | 39.03 % | |
More than 30 Years | 11.95 % | |
Other | 0.00 % | |
Total Net Assets | 100.00 % | |
Portfolio Statistics: | ||
AMT Percent: | 15.69 % | |
Average Coupon: | 4.20 % | |
Percentage of Leverage: | ||
Bank Borrowing: | 0.00 % | |
Investment Operations: | 0.00 % | |
Auction Preferred Shares (APS): | 0.00 % | |
Tender Option Bonds: | 0.00 % | |
VMTP Shares: | 39.82 % | |
Total Fund Leverage: | 39.82%* | |
Average Maturity: | 9.19 Years | |
Effective Duration: | 6.58 Years | |
Total Net Assets: | $355.62 Million** | |
Common Stock Net Asset Value: | $12.37 | |
Total Number of Holdings: | 184 | |
Portfolio Turnover: | 18.00 % |
* The total percentage of leverage constitutes 0.00% through the use of tender option bonds, 39.82% 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.
