AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the “Fund”) today released its monthly portfolio update as of March 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 2.73%2) City of New Orleans LA Series 2021-A 5.00%, 12/01/46 2.71%3) Greenwood Independent School District Series 2024 4.00%, 02/15/54 2.27%4) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.14%5) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 1.94%6) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.86%7) Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38 1.86%8) County of Miami-Dade FL Aviation Revenue Series 2025-A 5.50%, 10/01/55 1.85%9) City of New York NY Series 2023 4.125%, 08/01/53 1.85%10) Denton Independent School District Series 2023 5.00%, 08/15/48 1.83%Sector/Industry Breakdown Portfolio %RevenueHealth Care – Not-for-Profit 12.36%Revenue – Miscellaneous 8.49%Airport 7.47%Prepay Energy 7.39%Toll Roads/Transit 3.71%Industrial Development – Airline 3.65%Primary/Secondary Ed. – Public 2.69%Higher Education – Private 2.58%Water & Sewer 2.36%Electric Utility 2.14%Port 2.07%Tobacco Securitization 1.90%Industrial Development – Industry 1.89%Senior Living 0.97%Industrial Development – Utility 0.54%SUBTOTAL 60.21%Tax SupportedLocal G.O. 12.19%State G.O. 6.11%Special Tax 4.74%Assessment District 0.18%SUBTOTAL 23.22%Guaranteed 14.63%Prerefunded/ETM 1.01%Asset-BackedHousing – Multi-Family 0.93%SUBTOTAL 0.93%Total 100.00%State Breakdown Portfolio %Texas 17.19%Illinois 8.19%Florida 7.83%New York 7.55%Wisconsin 6.73%California 5.78%South Carolina 4.56%Massachusetts 3.92%Michigan 3.76%Pennsylvania 3.50%Ohio 2.72%Louisiana 2.71%New Jersey 2.61%Colorado 2.45%Alabama 2.32%Washington 1.91%Arizona 1.83%Nebraska 1.67%New Hampshire 1.50%Georgia 1.39%Iowa 0.99%Minnesota 0.98%Nevada 0.93%Virginia 0.90%Indiana 0.86%Utah 0.80%North Carolina 0.77%Alaska 0.68%Tennessee 0.53%Hawaii 0.47%Maryland 0.38%Arkansas 0.35%North Dakota 0.35%Oklahoma 0.33%Oregon 0.23%Connecticut 0.20%South Dakota 0.13%Total Investments 100.00%Credit Quality Breakdown Portfolio %AAA 17.63%AA 26.10%A 27.40%BBB 18.42%BB 6.30%B 0.47%Not Rated 2.67%Pre-refunded Bonds 1.01%Total 100.00%Bonds by Maturity Portfolio %Less than 1 Year 0.19%1 To 5 Years 2.88%5 To 10 Years 4.49%10 To 20 Years 16.70%20 To 30 Years 61.36%More than 30 Years 14.38%Other 0.00%Total Net Assets 100.00%Portfolio Statistics:AMT Percent: 19.79%Average Coupon: 4.48%Percentage of Leverage:Bank Borrowing: 0.00%Investment Operations: 0.35%Auction Preferred Shares (APS): 0.00%Tender Option Bonds: 7.81%VMTP Shares: 15.69%VRDP Shares: 17.78%Total Fund Leverage: 41.63%*Average Maturity: 14.01 YearsEffective Duration: 10.01 YearsTotal Net Assets: $346.67 Million**Common Stock Net Asset Value: $12.06Total Number of Holdings: 159Portfolio Turnover: 32.00%* The total percentage of leverage constitutes 7.81% through the use of tender option bonds, 15.69%in issued and outstanding VMTPs, 17.78% in issued and outstanding VRDPs and 0.35% 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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