AllianceBernstein National Municipal Income Fund, Inc. [NYSE:AFB] (the “Fund”) today released its monthly portfolio update as of December 31, 2024.
AllianceBernstein National Municipal Income Fund, Inc.Top 10 Fixed-Income Holdings Portfolio %1) Lamar Consolidated Independent School District Series 2024-2 5.00%, 02/15/53 2.72%2) City of New Orleans LA Series 2021-A 5.00%, 12/01/46 2.67%3) Prosper Independent School District Series 2024 4.00%, 02/15/54 2.44%4) Greenwood Independent School District Series 2024 4.00%, 02/15/54 2.31%5) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.20%6) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 1.96%7) City of New York NY Series 2023 4.125%, 08/01/53 1.89%8) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.84%9) Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38 1.84%10) Denton Independent School District Series 2024-2 5.00%, 08/15/48 1.83%Sector/Industry Breakdown Portfolio %RevenueHealth Care – Not-for-Profit 11.31%Revenue – Miscellaneous 8.40%Prepay Energy 7.29%Airport 6.30%Industrial Development – Airline 3.62%Toll Roads/Transit 3.31%Primary/Secondary Ed. – Public 2.83%Port 2.37%Higher Education – Private 2.21%Water & Sewer 2.18%Industrial Development – Industry 2.11%Electric Utility 2.10%Tobacco Securitization 1.88%Senior Living 0.96%Industrial Development – Utility 0.53%SUBTOTAL 57.40%Tax SupportedLocal G.O. 13.73%State G.O. 6.12%Special Tax 4.65%Assessment District 0.18%SUBTOTAL 24.68%Guaranteed 15.60%Prerefunded/ETM 1.27%Asset-BackedHousing – Multi-Family 0.92%SUBTOTAL 0.92%Cash & Cash EquivalentsFunds and Investment Trusts 0.13%SUBTOTAL 0.13%Total 100.00%State Breakdown Portfolio %Texas 19.24%Illinois 7.89%New York 7.51%Wisconsin 5.99%Florida 5.94%California 5.72%Michigan 4.59%South Carolina 4.52%Massachusetts 3.88%Pennsylvania 3.63%Louisiana 2.67%New Jersey 2.58%Colorado 2.43%Alabama 2.16%Arizona 1.98%Washington 1.91%Ohio 1.79%Nebraska 1.62%New Hampshire 1.48%Georgia 1.36%Nevada 1.21%Oklahoma 1.21%Minnesota 1.14%Iowa 0.97%Virginia 0.88%Indiana 0.86%Utah 0.78%North Carolina 0.76%Alaska 0.67%Tennessee 0.53%Maryland 0.38%North Dakota 0.35%Arkansas 0.34%Puerto Rico 0.34%Oregon 0.22%Connecticut 0.20%South Dakota 0.14%Other 0.13%Total Investments 100.00%Credit Quality Breakdown Portfolio %AAA 18.57%AA 27.70%A 25.86%BBB 17.34%BB 5.74%B 0.81%Not Rated 2.58%Pre-refunded Bonds 1.27%Short Term Investments 0.13%Total 100.00%Bonds by Maturity Portfolio %Less than 1 Year 0.60%1 To 5 Years 2.99%5 To 10 Years 4.55%10 To 20 Years 18.65%20 To 30 Years 59.18%More than 30 Years 14.03%Other 0.00%Total Net Assets 100.00%Portfolio Statistics:AMT Percent: 17.57%Average Coupon: 4.41%Percentage of Leverage:Bank Borrowing: 0.00%Investment Operations: 0.00%Auction Preferred Shares (APS): 0.00%Tender Option Bonds: 7.52%VMTP Shares: 15.11%VRDP Shares: 17.12%Total Fund Leverage: 39.75%*Average Maturity: 12.07 YearsEffective Duration: 9.06 YearsTotal Net Assets: $358.53 Million**Common Stock Net Asset Value: $12.47Total Number of Holdings: 166Portfolio Turnover: 32.00%* The total percentage of leverage constitutes 7.52% through the use of tender option bonds, 15.11%in issued and outstanding VMTPs, 17.12% in issued and outstanding VRDPs and 0.00% in investmentoperations, which may include the use of certain portfolio management techniques such as credit defaultswaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.** The Fund also had outstanding $88,275,000 of VMTPs at liquidation value, which is not includedin Total Net Assets because it is treated as a liability for financial reporting purposes.** The Fund also had outstanding $100,000,000 of VRDPs at liquidation value, which is not includedin 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. TheFund 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.
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