PR Newswire
NEW YORK , Jan. 24, 2023 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of December 31, 2022 .
AllianceBernstein National Municipal Income Fund, Inc.
Top 10 Fixed-Income Holdings | | Portfolio % |
1) State of Connecticut Special Tax Revenue Series 2012-A 5.00%, 01/01/29 | | 2.42 % |
2) Detroit City School District Series 2001-A 6.00%, 05/01/29 | | 1.86 % |
3) Jefferson County Board of Education/AL Series 2018 5.00%, 02/01/46 | | 1.82 % |
4) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58 | | 1.77 % |
5) Los Angeles Department of Water & Power Power System Revenue Series 2013-B 5.00%, 07/01/30 | | 1.76 % |
6) Central Plains Energy Project Series 2017-A 5.00%, 09/01/42 | | 1.75 % |
7) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48 | | 1.75 % |
8) Virginia Small Business Financing Authority Series 2022 3.00%, 01/01/41 | | 1.58 % |
9) Wisconsin Public Finance Authority Series 2022 5.00%, 02/01/62 | | 1.58 % |
10) Tobacco Settlement Financing Corp./NJ Series 2018-A 5.25%, 06/01/46 | | 1.58 % |
Sector/Industry Breakdown | | Portfolio % |
Revenue | | |
Health Care - Not-for-Profit | | 19.69 % |
Airport | | 9.28 % |
Revenue - Miscellaneous | | 7.86 % |
Toll Roads/Transit | | 5.74 % |
Electric Utility | | 5.61 % |
Higher Education - Private | | 2.98 % |
Tobacco Securitization | | 2.85 % |
Industrial Development - Industry | | 2.61 % |
Water & Sewer | | 2.60 % |
Prepay Energy | | 2.39 % |
Primary/Secondary Ed. - Public | | 2.31 % |
Port | | 0.83 % |
Industrial Development - Utility | | 0.54 % |
Higher Education - Public | | 0.51 % |
Senior Living | | 0.24 % |
SUBTOTAL | | 66.04 % |
Tax Supported | | |
Special Tax | | 12.51 % |
State G.O. | | 8.33 % |
Local G.O. | | 5.08 % |
State Lease | | 1.21 % |
SUBTOTAL | | 27.13 % |
Prerefunded/ETM | | 3.65 % |
Commercial Mortgage-Backed Securities | | 1.61 % |
Cash & Cash Equivalents | | |
Funds and Investment Trusts | | 1.57 % |
SUBTOTAL | | 1.57 % |
Total | | 100.00 % |
State Breakdown | | Portfolio % |
Illinois | | 11.59 % |
California | | 9.57 % |
New Jersey | | 8.19 % |
Pennsylvania | | 7.00 % |
New York | | 6.17 % |
Wisconsin | | 6.00 % |
Connecticut | | 5.17 % |
Michigan | | 4.99 % |
Florida | | 4.53 % |
Texas | | 3.71 % |
South Carolina | | 3.17 % |
Virginia | | 2.31 % |
Ohio | | 2.19 % |
Alabama | | 2.05 % |
Georgia | | 1.75 % |
Nebraska | | 1.75 % |
Minnesota | | 1.69 % |
North Carolina | | 1.69 % |
Maryland | | 1.55 % |
Oklahoma | | 1.55 % |
New Hampshire | | 1.48 % |
Colorado | | 1.31 % |
Utah | | 1.23 % |
Arizona | | 1.06 % |
District of Columbia | | 1.06 % |
Iowa | | 0.96 % |
Kansas | | 0.89 % |
Hawaii | | 0.83 % |
West Virginia | | 0.68 % |
Washington | | 0.52 % |
Louisiana | | 0.50 % |
Indiana | | 0.48 % |
Arkansas | | 0.35 % |
Massachusetts | | 0.13 % |
South Dakota | | 0.13 % |
Puerto Rico | | 0.10 % |
Tennessee | | 0.07 % |
Kentucky | | 0.03 % |
Other | | 1.57 % |
Total Investments | | 100.00 % |
Credit Quality Breakdown | | Portfolio % |
AAA | | 3.66 % |
AA | | 32.06 % |
A | | 31.05 % |
BBB | | 23.23 % |
BB | | 3.14 % |
D | | 0.23 % |
Not Rated | | 0.34 % |
Pre-refunded Bonds | | 3.65 % |
Short Term Investments | | 2.64 % |
Total | | 100.00 % |
Bonds by Maturity | | Portfolio % |
Less than 1 Year | | 3.50 % |
1 To 5 Years | | 6.85 % |
5 To 10 Years | | 17.56 % |
10 To 20 Years | | 24.93 % |
20 To 30 Years | | 34.87 % |
More than 30 Years | | 12.29 % |
Other | | 0.00 % |
Total Net Assets | | 100.00 % |
Portfolio Statistics: | | |
AMT Percent: | | 14.12 % |
Average Coupon: | | 4.49 % |
Percentage of Leverage: | | |
Bank Borrowing: | | 0.00 % |
Investment Operations: | | 0.00 % |
Auction Preferred Shares (APS): | | 0.00 % |
Tender Option Bonds: | | 0.00 % |
VMTP Shares: | | 40.57 % |
Total Fund Leverage: | | 40.57% * |
Average Maturity: | | 9.45 Years |
Effective Duration: | | 6.52 Years |
Total Net Assets: | | $347.19 Million ** |
Common Stock Net Asset Value: | | $12.08 |
Total Number of Holdings: | | 185 |
Portfolio Turnover: | | 18.00 % |
* The total percentage of leverage constitutes 0.00% through the use of tender option bonds, 40.57% 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.