AllianceBernstein National Municipal Income Fund, Inc. Releases Monthly Portfolio Update
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PR Newswire
NEW YORK, Nov. 25, 2024
NEW YORK, Nov. 25, 2024 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of October 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 | 2.67 % | |
2) City of New Orleans LA Series 2021-A 5.00%, 12/01/46 | 2.64 % | |
3) Prosper Independent School District Series 2024 4.00%, 02/15/54 | 2.42 % | |
4) Greenwood Independent School District Series 2024 4.00%, 02/15/54 | 2.27 % | |
5) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 | 2.13 % | |
6) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 | 1.95 % | |
7) City of New York NY Series 2023 4.125%, 08/01/53 | 1.84 % | |
8) New York Transportation Development Corp. Series 2024 1.00%, 12/31/54 | 1.83 % | |
9) Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38 | 1.81 % | |
10) Denton Independent School District Series 2024-2 5.00%, 08/15/48 | 1.80 % | |
Sector/Industry Breakdown | Portfolio % | |
Revenue | ||
Health Care - Not-for-Profit | 10.67 % | |
Revenue - Miscellaneous | 7.62 % | |
Prepay Energy | 7.18 % | |
Airport | 6.18 % | |
Industrial Development - Airline | 3.56 % | |
Toll Roads/Transit | 3.24 % | |
Industrial Development - Industry | 2.43 % | |
Higher Education - Private | 2.17 % | |
Water & Sewer | 2.13 % | |
Electric Utility | 2.06 % | |
Tobacco Securitization | 1.85 % | |
Port | 1.83 % | |
Primary/Secondary Ed. - Public | 1.77 % | |
Senior Living | 0.95 % | |
Industrial Development - Utility | 0.51 % | |
SUBTOTAL | 54.15 % | |
Tax Supported | ||
Local G.O. | 16.13 % | |
State G.O. | 6.00 % | |
Special Tax | 4.97 % | |
Assessment District | 0.17 % | |
SUBTOTAL | 27.27 % | |
Guaranteed | 15.34 % | |
Prerefunded/ETM | 2.06 % | |
Asset-Backed | ||
Housing - Multi-Family | 1.09 % | |
SUBTOTAL | 1.09 % | |
Cash & Cash Equivalents | ||
Funds and Investment Trusts | 0.09 % | |
SUBTOTAL | 0.09 % | |
Total | 100.00 % | |
State Breakdown | Portfolio % | |
Texas | 19.18 % | |
Illinois | 8.73 % | |
New York | 7.71 % | |
Florida | 7.29 % | |
California | 5.47 % | |
Wisconsin | 5.02 % | |
Michigan | 4.48 % | |
South Carolina | 4.42 % | |
Massachusetts | 3.82 % | |
Pennsylvania | 3.56 % | |
New Jersey | 2.70 % | |
Louisiana | 2.64 % | |
Colorado | 2.38 % | |
Arizona | 1.95 % | |
Washington | 1.86 % | |
Alabama | 1.78 % | |
Ohio | 1.76 % | |
Nebraska | 1.59 % | |
Nevada | 1.51 % | |
Georgia | 1.32 % | |
Oklahoma | 1.19 % | |
New Hampshire | 1.13 % | |
Minnesota | 1.12 % | |
Iowa | 0.95 % | |
Virginia | 0.87 % | |
Indiana | 0.84 % | |
Utah | 0.77 % | |
North Carolina | 0.75 % | |
Tennessee | 0.52 % | |
North Dakota | 0.43 % | |
Puerto Rico | 0.42 % | |
Maryland | 0.37 % | |
Arkansas | 0.33 % | |
Oregon | 0.22 % | |
Connecticut | 0.19 % | |
Alaska | 0.18 % | |
South Dakota | 0.13 % | |
Other | 0.42 % | |
Total Investments | 100.00 % | |
Credit Quality Breakdown | Portfolio % | |
AAA | 18.58 % | |
AA | 29.86 % | |
A | 25.06 % | |
BBB | 16.90 % | |
BB | 4.51 % | |
B | 0.47 % | |
Not Rated | 2.47 % | |
Pre-refunded Bonds | 2.06 % | |
Short Term Investments | 0.09 % | |
Total | 100.00 % | |
Bonds by Maturity | Portfolio % | |
Less than 1 Year | 1.36 % | |
1 To 5 Years | 3.28 % | |
5 To 10 Years | 4.89 % | |
10 To 20 Years | 18.85 % | |
20 To 30 Years | 55.94 % | |
More than 30 Years | 15.68 % | |
Other | 0.00 % | |
Total Net Assets | 100.00 % | |
Portfolio Statistics: | ||
AMT Percent: | 15.22 % | |
Average Coupon: | 4.55 % | |
Percentage of Leverage: | ||
Bank Borrowing: | 0.00 % | |
Investment Operations: | 1.38 % | |
Auction Preferred Shares (APS): | 0.00 % | |
Tender Option Bonds: | 7.35 % | |
VMTP Shares: | 14.77 % | |
VRDP Shares: | 16.73 % | |
Total Fund Leverage: | 40.23%* | |
Average Maturity: | 11.53 Years | |
Effective Duration: | 8.92 Years | |
Total Net Assets: | $361.43 Million** | |
Common Stock Net Asset Value: | $12.57 | |
Total Number of Holdings: | 166 | |
Portfolio Turnover: | 55.00 % | |
* The total percentage of leverage constitutes 7.35% through the use of tender option bonds, 14.77% | ||
in issued and outstanding VMTPs, 16.73% in issued and outstanding VRDPs and 1.38% 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 $88,275,000 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 Fund also had outstanding $100,000,000 of VRDPs 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. |
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SOURCE AllianceBernstein National Municipal Income Fund, Inc.
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