AB National Municipal Income Fund Releases Monthly Portfolio Update
March 29 2022 - 4:06PM
PR Newswire (US)
NEW
YORK, March 29, 2022 /PRNewswire/ -- AB National
Municipal Income Fund [NYSE: AFB] (the "Fund") today released its
monthly portfolio update as of February 28,
2022.
AB National Municipal
Income Fund
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Top 10 Fixed-Income
Holdings
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Portfolio
%
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1) Metropolitan
Transportation Authority Series 2016-2 5.25%, 11/15/35
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2.44%
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2) State of Connecticut
Special Tax Revenue Series 2012-A 5.00%, 01/01/29
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2.11%
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3) Central Plains
Energy Project Series 2017-A 5.00%, 09/01/42
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1.90%
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4) Jefferson County
Board of Education/AL Series 2018 5.00%, 02/01/46
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1.73%
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5) Wisconsin Public
Finance Authority Series 2018 5.00%, 07/01/58
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1.68%
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6) Detroit Downtown
Development Authority Series 2018-A 5.00%, 07/01/48
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1.58%
|
7) Los Angeles
Department of Water & Power Power System Revenue Series 2013-B
5.00%, 07/01/30
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1.55%
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8) Miami Beach Health
Facilities Authority Series 2014 5.00%, 11/15/39
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1.50%
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9) Tobacco Settlement
Financing Corp./NJ Series 2018-A 5.00%, 06/01/46
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1.49%
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10) Metropolitan Pier
& Exposition Authority Series 2020 5.00%, 06/15/50
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1.44%
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Sector/Industry
Breakdown
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Portfolio
%
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Revenue
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Health Care -
Not-for-Profit
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21.85%
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Toll
Roads/Transit
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7.64%
|
Airport
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7.62%
|
Revenue -
Miscellaneous
|
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5.85%
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Electric
Utility
|
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5.22%
|
Prepay
Energy
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2.71%
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Tobacco
Securitization
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2.38%
|
Higher Education -
Private
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2.15%
|
Water &
Sewer
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2.13%
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Higher Education -
Public
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1.01%
|
Primary/Secondary Ed. -
Public
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0.99%
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Port
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0.68%
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Industrial Development
- Utility
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0.46%
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Industrial Development
- Industry
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0.34%
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Senior
Living
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0.25%
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SUBTOTAL
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61.28%
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Tax
Supported
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Special Tax
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14.70%
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State G.O.
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7.64%
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Local G.O.
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2.76%
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Assessment
District
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2.06%
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State Lease
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1.12%
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SUBTOTAL
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28.28%
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Prerefunded/ETM
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9.59%
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Asset-Backed
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Housing -
Multi-Family
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0.47%
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SUBTOTAL
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0.47%
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Cash & Cash
Equivalents
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Funds and Investment
Trusts
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0.23%
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SUBTOTAL
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0.23%
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Commercial
Mortgage-Backed Securities
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0.15%
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Total
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100.00%
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State
Breakdown
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Portfolio
%
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California
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12.09%
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Illinois
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11.11%
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New York
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10.23%
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New Jersey
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8.23%
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Pennsylvania
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7.58%
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Florida
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4.73%
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Connecticut
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4.61%
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Texas
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3.96%
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Michigan
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3.70%
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Wisconsin
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3.37%
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South
Carolina
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3.06%
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Alabama
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2.41%
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North
Carolina
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1.99%
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Ohio
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1.94%
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Nebraska
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1.90%
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Colorado
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1.79%
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Georgia
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1.78%
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Oklahoma
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1.76%
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Minnesota
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1.50%
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Arizona
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1.43%
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Tennessee
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1.39%
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Utah
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1.17%
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Maryland
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1.09%
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Virginia
|
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1.07%
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District of
Columbia
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0.94%
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Kansas
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0.86%
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Kentucky
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0.80%
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West
Virginia
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0.66%
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Massachusetts
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0.53%
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Puerto Rico
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0.53%
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Hawaii
|
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0.40%
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Arkansas
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0.32%
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Indiana
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0.19%
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Iowa
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0.19%
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Louisiana
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0.18%
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Washington
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0.15%
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New
Hampshire
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0.13%
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Other
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0.23%
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Total
Investments
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100.00%
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Credit Quality
Breakdown
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Portfolio
%
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AAA
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4.49%
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AA
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30.23%
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A
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32.06%
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BBB
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20.09%
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BB
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2.33%
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D
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0.19%
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Not Rated
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0.79%
|
Pre-refunded
Bonds
|
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9.59%
|
Short Term
Investments
|
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0.23%
|
Total
|
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100.00%
|
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Bonds by
Maturity
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Portfolio
%
|
Less than 1
Year
|
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3.82%
|
1 To 5 Years
|
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7.57%
|
5 To 10
Years
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15.54%
|
10 To 20
Years
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30.57%
|
20 To 30
Years
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35.75%
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More than 30
Years
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6.75%
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Other
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0.00%
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Total Net
Assets
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100.00%
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Portfolio
Statistics:
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AMT Percent:
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10.06%
|
Average
Coupon:
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4.97%
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Percentage of
Leverage:
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Bank
Borrowing:
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0.00%
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Investment
Operations:
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1.56%
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Auction Preferred
Shares (APS):
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0.00%
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Tender Option
Bonds:
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4.10%
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VMTP Shares:
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36.29%
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Total Fund
Leverage:
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41.95%*
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Average
Maturity:
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5.50
Years
|
Effective
Duration:
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4.81
Years
|
Total Net
Assets:
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$415.08
Million**
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Common Stock
Net Asset Value:
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$14.44
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Total Number of
Holdings:
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188
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Portfolio
Turnover:
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5.00%
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* The total percentage
of leverage constitutes 4.10% through the use of tender option
bonds, 36.29% in issued and outstanding VMTPs and 1.56% 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.
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** 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.
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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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View original
content:https://www.prnewswire.com/news-releases/ab-national-municipal-income-fund-releases-monthly-portfolio-update-301513164.html
SOURCE AllianceBernstein National Municipal Income Fund
Copyright 2022 PR Newswire
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