AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the “Fund”) today released its monthly portfolio update as of January 31, 2025.
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 2.70%2) City of New Orleans LA Series 2021-A 5.00%, 12/01/46 2.66%3) Prosper Independent School District Series 2024 4.00%, 02/15/54 2.41%4) Greenwood Independent School District Series 2024 4.00%, 02/15/54 2.29%5) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.21%6) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 1.94%7) City of New York NY Series 2023 4.125%, 08/01/53 1.87%8) Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38 1.84%9) Denton Independent School District Series 2024-2 5.00%, 08/15/48 1.82%10) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.81%Sector/Industry Breakdown Portfolio %RevenueHealth Care – Not-for-Profit 11.30%Revenue – Miscellaneous 8.38%Prepay Energy 7.30%Airport 6.26%Toll Roads/Transit 3.64%Industrial Development – Airline 3.57%Primary/Secondary Ed. – Public 2.84%Higher Education – Private 2.54%Port 2.35%Water & Sewer 2.16%Industrial Development – Industry 2.13%Electric Utility 2.09%Tobacco Securitization 1.87%Senior Living 0.96%Industrial Development – Utility 0.53%SUBTOTAL 57.92%Tax SupportedLocal G.O. 13.64%State G.O. 6.08%Special Tax 4.63%Assessment District 0.18%SUBTOTAL 24.53%Guaranteed 15.49%Prerefunded/ETM 0.99%Asset-BackedHousing – Multi-Family 0.92%SUBTOTAL 0.92%Cash & Cash EquivalentsFunds and Investment Trusts 0.15%SUBTOTAL 0.15%Total 100.00%State Breakdown Portfolio %Texas 19.11%Illinois 7.59%New York 7.44%Wisconsin 6.37%Florida 5.93%California 5.70%Michigan 4.59%South Carolina 4.48%Massachusetts 3.85%Pennsylvania 3.63%Louisiana 2.66%New Jersey 2.57%Colorado 2.42%Alabama 2.14%Arizona 1.98%Washington 1.89%Ohio 1.79%Nebraska 1.63%Oklahoma 1.54%New Hampshire 1.48%Georgia 1.36%Nevada 1.20%Minnesota 1.13%Iowa 0.98%Virginia 0.88%Indiana 0.85%Utah 0.78%North Carolina 0.76%Alaska 0.67%Tennessee 0.52%Maryland 0.37%North Dakota 0.35%Arkansas 0.34%Puerto Rico 0.32%Oregon 0.22%Connecticut 0.20%South Dakota 0.13%Other 0.15%Total Investments 100.00%Credit Quality Breakdown Portfolio %AAA 18.45%AA 27.87%A 26.31%BBB 17.12%BB 5.73%B 0.81%Not Rated 2.57%Pre-refunded Bonds 0.99%Short Term Investments 0.15%Total 100.00%Bonds by Maturity Portfolio %Less than 1 Year 0.33%1 To 5 Years 3.00%5 To 10 Years 4.57%10 To 20 Years 18.63%20 To 30 Years 61.33%More than 30 Years 12.14%Other 0.00%Total Net Assets 100.00%Portfolio Statistics:AMT Percent: 17.83%Average Coupon: 4.58%Percentage of Leverage:Bank Borrowing: 0.00%Investment Operations: 0.00%Auction Preferred Shares (APS): 0.00%Tender Option Bonds: 7.52%VMTP Shares: 15.09%VRDP Shares: 17.09%Total Fund Leverage: 39.70%*Average Maturity: 11.99 YearsEffective Duration: 9.04 YearsTotal Net Assets: $357.19 Million**Common Stock Net Asset Value: $12.43Total Number of Holdings: 165Portfolio Turnover: 32.00%* The total percentage of leverage constitutes 7.52% through the use of tender option bonds, 15.09%in issued and outstanding VMTPs, 17.09% 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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