NEW YORK, Dec. 26, 2023 /PRNewswire/ — AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the “Fund”) today released its monthly portfolio update as of November 30, 2023.
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AllianceBernstein National Municipal Income Fund, Inc. |
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Top 10 Fixed-Income Holdings |
Portfolio % |
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1) City of New Orleans LA Series 2021-A 5.00%, 12/01/46 |
2.71 % |
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2) Melissa Independent School District Series 2023 4.25%, 02/01/53 |
2.17 % |
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3) City of New York NY Series 2023 4.125%, 08/01/53 |
1.91 % |
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4) Denton Independent School District Series 2023 5.00%, 08/15/48 |
1.88 % |
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5) Commonwealth of Massachusetts Series 2023 5.00%, 05/01/53 |
1.86 % |
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6) City of El Paso TX Series 2021-C 4.00%, 08/15/47 |
1.76 % |
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7) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58 |
1.76 % |
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8) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48 |
1.73 % |
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9) Wisconsin Public Finance Authority Series 2022 5.00%, 02/01/62 |
1.68 % |
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10) Detroit City School District Series 2001-A 6.00%, 05/01/29 |
1.67 % |
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Sector/Industry Breakdown |
Portfolio % |
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Revenue |
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Health Care – Not-for-Profit |
14.76 % |
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Revenue – Miscellaneous |
7.60 % |
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Prepay Energy |
5.69 % |
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Airport |
5.35 % |
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Toll Roads/Transit |
4.27 % |
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Higher Education – Private |
3.42 % |
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Electric Utility |
3.24 % |
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Industrial Development – Industry |
2.83 % |
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Tobacco Securitization |
2.04 % |
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Primary/Secondary Ed. – Public |
1.76 % |
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Port |
0.88 % |
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Industrial Development – Utility |
0.53 % |
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Water & Sewer |
0.40 % |
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Senior Living |
0.23 % |
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SUBTOTAL |
53.00 % |
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Tax Supported |
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Local G.O. |
18.06 % |
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Special Tax |
7.67 % |
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State G.O. |
7.66 % |
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State Lease |
0.59 % |
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Assessment District |
0.18 % |
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SUBTOTAL |
34.16 % |
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Prerefunded/ETM |
4.55 % |
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Insured/Guaranteed |
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Guaranteed |
4.54 % |
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SUBTOTAL |
4.54 % |
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Commercial Mortgage-Backed Securities |
2.23 % |
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Cash & Cash Equivalents |
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Funds and Investment Trusts |
1.52 % |
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SUBTOTAL |
1.52 % |
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Total |
100.00 % |
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State Breakdown |
Portfolio % |
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Illinois |
10.10 % |
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Texas |
10.02 % |
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New York |
7.06 % |
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California |
6.91 % |
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Michigan |
6.26 % |
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Florida |
6.01 % |
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Wisconsin |
5.88 % |
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Pennsylvania |
4.94 % |
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New Jersey |
4.93 % |
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Massachusetts |
3.79 % |
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South Carolina |
3.11 % |
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Louisiana |
2.91 % |
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Arizona |
2.42 % |
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Georgia |
2.31 % |
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New Hampshire |
2.07 % |
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Washington |
2.07 % |
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Ohio |
1.92 % |
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Minnesota |
1.64 % |
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Nebraska |
1.63 % |
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Nevada |
1.55 % |
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Oklahoma |
1.53 % |
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North Carolina |
1.49 % |
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Virginia |
1.42 % |
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Colorado |
1.28 % |
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Utah |
1.23 % |
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Iowa |
1.00 % |
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West Virginia |
0.68 % |
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Indiana |
0.49 % |
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Maryland |
0.37 % |
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North Dakota |
0.36 % |
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Arkansas |
0.35 % |
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Oregon |
0.21 % |
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Connecticut |
0.18 % |
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South Dakota |
0.13 % |
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Puerto Rico |
0.10 % |
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Tennessee |
0.07 % |
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Alabama |
0.06 % |
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Other |
1.52 % |
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Total Investments |
100.00 % |
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Credit Quality Breakdown |
Portfolio % |
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AAA |
7.94 % |
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AA |
31.63 % |
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A |
31.06 % |
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BBB |
17.88 % |
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BB |
3.84 % |
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B |
0.41 % |
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CCC |
0.17 % |
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D |
0.23 % |
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Not Rated |
0.77 % |
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Pre-refunded Bonds |
4.55 % |
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Short Term Investments |
1.52 % |
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Total |
100.00 % |
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Bonds by Maturity |
Portfolio % |
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Less than 1 Year |
6.00 % |
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1 To 5 Years |
2.17 % |
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5 To 10 Years |
6.24 % |
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10 To 20 Years |
20.68 % |
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20 To 30 Years |
51.50 % |
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More than 30 Years |
13.41 % |
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Other |
0.00 % |
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Total Net Assets |
100.00 % |
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Portfolio Statistics: |
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AMT Percent: |
13.25 % |
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Average Coupon: |
4.47 % |
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Percentage of Leverage: |
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Bank Borrowing: |
0.00 % |
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Investment Operations: |
0.00 % |
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Auction Preferred Shares (APS): |
0.00 % |
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Tender Option Bonds: |
0.00 % |
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VMTP Shares: |
40.10 % |
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Total Fund Leverage: |
40.10%* |
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Average Maturity: |
10.76 Years |
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Effective Duration: |
7.52 Years |
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Total Net Assets: |
$353.93 Million** |
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Common Stock Net Asset Value: |
$12.31 |
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Total Number of Holdings: |
175 |
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Portfolio Turnover: |
18.00 % |
* The total percentage of leverage constitutes 0.00% through the use of tender option bonds, 40.10% 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.
SOURCE AllianceBernstein National Municipal Income Fund, Inc.