AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE

Rhea-AI Summary

AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has released its monthly portfolio update as of June 30, 2024. The fund's top holdings include municipal bonds from various school districts and cities, with Lamar Consolidated Independent School District bonds leading at 2.73%. The portfolio is diversified across sectors, with Health Care - Not-for-Profit being the largest at 12.72%. Texas represents the highest state allocation at 18.33%. The fund's credit quality is predominantly in the AA to A range, with 56.92% of the portfolio in these categories. The majority of bonds (57.95%) have maturities between 20 to 30 years. The fund employs 39.54% leverage through various instruments. With total net assets of $359.51 Million, the fund has 160 holdings and a portfolio turnover of 55.00%.

NEW YORK, July 22, 2024 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of June 30, 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		2.73 %
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		2.41 %
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		2.15 %
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		1.89 %
8) Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38		1.87 %
9) Denton Independent School District Series 2024-2 5.00%, 08/15/48		1.85 %
10) Commonwealth of Massachusetts Series 2024-2 5.00%, 05/01/53		1.82 %
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		12.72 %
Prepay Energy		7.30 %
Revenue - Miscellaneous		6.10 %
Airport		4.84 %
Toll Roads/Transit		3.29 %
Electric Utility		3.10 %
Higher Education - Private		3.03 %
Industrial Development - Industry		2.89 %
Tobacco Securitization		1.89 %
Industrial Development - Airline		1.76 %
Port		1.50 %
Primary/Secondary Ed. - Public		1.33 %
Water & Sewer		0.91 %
Senior Living		0.61 %
Industrial Development - Utility		0.52 %
SUBTOTAL		51.79 %
Tax Supported
Local G.O.		15.74 %
State G.O.		7.25 %
Special Tax		5.44 %
State Lease		0.58 %
Assessment District		0.18 %
SUBTOTAL		29.19 %
Guaranteed		15.47 %
Prerefunded/ETM		2.23 %
Asset-Backed
Housing - Multi-Family		1.24 %
SUBTOTAL		1.24 %
Cash & Cash Equivalents
Funds and Investment Trusts		0.08 %
SUBTOTAL		0.08 %
Total		100.00 %
State Breakdown		Portfolio %
Texas		18.33 %
Illinois		9.78 %
New York		7.30 %
Michigan		6.77 %
Florida		6.13 %
California		5.50 %
Wisconsin		4.87 %
South Carolina		3.89 %
Massachusetts		3.71 %
Pennsylvania		3.49 %
New Jersey		3.32 %
Louisiana		2.87 %
Colorado		2.33 %
Georgia		2.18 %
Arizona		1.98 %
Ohio		1.92 %
Washington		1.89 %
Nebraska		1.61 %
Nevada		1.54 %
Oklahoma		1.20 %
Minnesota		1.13 %
New Hampshire		1.10 %
Iowa		0.90 %
Virginia		0.88 %
Utah		0.78 %
North Carolina		0.76 %
West Virginia		0.67 %
Alabama		0.54 %
Indiana		0.51 %
North Dakota		0.43 %
Maryland		0.37 %
Arkansas		0.34 %
Oregon		0.22 %
Connecticut		0.19 %
Alaska		0.18 %
South Dakota		0.14 %
Puerto Rico		0.10 %
Tennessee		0.07 %
Other		0.08 %
Total Investments		100.00 %
Credit Quality Breakdown		Portfolio %
AAA		18.79 %
AA		29.00 %
A		27.92 %
BBB		17.95 %
BB		2.79 %
B		0.14 %
CCC		0.11 %
D		0.18 %
Not Rated		0.81 %
Pre-refunded Bonds		2.23 %
Short Term Investments		0.08 %
Total		100.00 %
Bonds by Maturity		Portfolio %
Less than 1 Year		2.48 %
1 To 5 Years		2.44 %
5 To 10 Years		3.78 %
10 To 20 Years		20.16 %
20 To 30 Years		57.95 %
More than 30 Years		13.19 %
Other		0.00 %
Total Net Assets		100.00 %
Portfolio Statistics:
AMT Percent:		16.38 %
Average Coupon:		4.44 %
Percentage of Leverage:
Bank Borrowing:		0.00 %
Investment Operations:		0.35 %
VRDP Shares:		16.88 %
Tender Option Bonds:		7.41 %
VMTP Shares:		14.90 %
Total Fund Leverage:		39.54%*
Average Maturity:		11.82 Years
Effective Duration:		8.93 Years
Total Net Assets:		$359.51 Million**
Common Stock Net Asset Value:		$12.51
Total Number of Holdings:		160
Portfolio Turnover:		55.00 %

* The total percentage of leverage constitutes 7.41% through the use of tender option bonds, 14.90% in issued and outstanding VMTPs, 16.88% in issued and outstanding VRDPs, and 0.35% 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.

 

View original content:https://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-inc-releases-monthly-portfolio-update-302203149.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

What are the top holdings of AllianceBernstein National Municipal Income Fund (AFB) as of June 30, 2024?

The top holding is Lamar Consolidated Independent School District Series 2024-2 bonds at 2.73%, followed by City of New Orleans LA Series 2021-A bonds at 2.67%, and Prosper Independent School District Series 2024 bonds at 2.41%.

What is the largest sector allocation in AFB's portfolio as of June 30, 2024?

The largest sector allocation is Health Care - Not-for-Profit at 12.72% of the portfolio.

What is the total leverage percentage of AFB as of June 30, 2024?

The total fund leverage is 39.54%, consisting of tender option bonds, VMTPs, VRDPs, and investment operations.

What is the credit quality breakdown of AFB's portfolio as of June 30, 2024?

The credit quality breakdown shows 18.79% AAA, 29.00% AA, 27.92% A, 17.95% BBB, with smaller allocations to lower ratings and 2.23% in pre-refunded bonds.

What is the total net assets value of AFB as of June 30, 2024?

The total net assets of AllianceBernstein National Municipal Income Fund (AFB) are $359.51 Million as of June 30, 2024.