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

Rhea-AI Summary

AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] released its monthly portfolio update as of October 31, 2023, with a total net asset of $311.65 million. The fund holds 176 holdings, with a 43.25% leverage, and an average maturity of 16.99 years.

Positive

• The fund's total net asset of $311.65 million indicates strong financial stability.
• The average coupon of 4.47% reflects a good yield for investors.
• The portfolio turnover of 18.00% suggests active management of the fund.

Negative

• The fund's leverage of 43.25% might expose it to higher risks.
• The presence of $232,125,000 of VMTPs at liquidation value, treated as a liability, raises concerns about financial reporting.

NEW YORK, Nov. 28, 2023 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of October 31, 2023.

AllianceBernstein National Municipal Income Fund, Inc.
Top 10 Fixed-Income Holdings		Portfolio %
1) City of New Orleans LA Series 2021-A 5.00%, 12/01/46		2.79 %
2) Melissa Independent School District Series 2023 4.25%, 02/01/53		2.03 %
3) Denton Independent School District Series 2023 5.00%, 08/15/48		1.89 %
4) Commonwealth of Massachusetts Series 2023 5.00%, 05/01/53		1.88 %
5) City of New York NY Series 2023 4.125%, 08/01/53		1.78 %
6) Detroit City School District Series 2001-A 6.00%, 05/01/29		1.75 %
7) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58		1.74 %
8) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48		1.73 %
9) Tobacco Settlement Financing Corp./NJ Series 2018-A 5.25%, 06/01/46		1.64 %
10) City of El Paso TX Series 2021-C 4.00%, 08/15/47		1.60 %
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		14.52 %
Revenue - Miscellaneous		7.61 %
Airport		7.41 %
Prepay Energy		5.75 %
Toll Roads/Transit		4.82 %
Higher Education - Private		3.29 %
Electric Utility		3.24 %
Industrial Development - Industry		2.81 %
Tobacco Securitization		2.09 %
Primary/Secondary Ed. - Public		1.75 %
Port		0.86 %
Industrial Development - Utility		0.56 %
Water & Sewer		0.42 %
Senior Living		0.23 %
SUBTOTAL		55.36 %
Tax Supported
Local G.O.		18.07 %
State G.O.		7.93 %
Special Tax		7.68 %
State Lease		0.61 %
Assessment District		0.18 %
SUBTOTAL		34.47 %
Insured/Guaranteed
Guaranteed		4.38 %
SUBTOTAL		4.38 %
Commercial Mortgage-Backed Securities		2.24 %
Cash & Cash Equivalents
Funds and Investment Trusts		1.81 %
SUBTOTAL		1.81 %
Prerefunded/ETM		1.74 %
Total		100.00 %
State Breakdown		Portfolio %
Texas		10.17 %
Illinois		10.08 %
New York		7.09 %
California		6.92 %
Michigan		6.77 %
Florida		5.89 %
Wisconsin		5.62 %
New Jersey		5.15 %
Pennsylvania		4.94 %
South Carolina		3.20 %
Louisiana		3.00 %
Massachusetts		2.85 %
Arizona		2.44 %
Georgia		2.33 %
New Hampshire		2.05 %
Washington		1.91 %
Ohio		1.90 %
Nebraska		1.67 %
Minnesota		1.58 %
Oklahoma		1.55 %
North Carolina		1.53 %
Nevada		1.47 %
Virginia		1.39 %
Colorado		1.37 %
Utah		1.25 %
Iowa		0.98 %
West Virginia		0.68 %
Indiana		0.45 %
Maryland		0.39 %
Arkansas		0.36 %
North Dakota		0.35 %
Oregon		0.19 %
Connecticut		0.18 %
Alabama		0.16 %
South Dakota		0.13 %
Puerto Rico		0.10 %
Tennessee		0.07 %
Kentucky		0.03 %
Other		1.81 %
Total Investments		100.00 %
Credit Quality Breakdown		Portfolio %
AAA		7.89 %
AA		32.41 %
A		32.67 %
BBB		18.17 %
BB		3.59 %
B		0.57 %
CCC		0.12 %
D		0.24 %
Not Rated		0.79 %
Pre-refunded Bonds		1.74 %
Short Term Investments		1.81 %
Total		100.00 %
Bonds by Maturity		Portfolio %
Less than 1 Year		3.49 %
1 To 5 Years		1.33 %
5 To 10 Years		9.97 %
10 To 20 Years		22.45 %
20 To 30 Years		49.89 %
More than 30 Years		12.87 %
Other		0.00 %
Total Net Assets		100.00 %
Portfolio Statistics:
AMT Percent:		13.71 %
Average Coupon:		4.47 %
Percentage of Leverage:
Bank Borrowing:		0.00 %
Investment Operations:		0.00 %
Auction Preferred Shares (APS):		0.00 %
Tender Option Bonds:		0.00 %
VMTP Shares:		43.25 %
Total Fund Leverage:		43.25%*
Average Maturity:		16.99 Years
Effective Duration:		10.54 Years
Total Net Assets:		$311.65 Million**
Common Stock Net Asset Value:		$10.84
Total Number of Holdings:		176
Portfolio Turnover:		18.00 %

* The total percentage of leverage constitutes 0.00% through the use of tender option bonds, 43.25%
in issued and outstanding VMTPs and 0.00% 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 $232,125,000 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 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-301999627.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

What is the total net asset of AllianceBernstein National Municipal Income Fund, Inc.?

The total net asset of AllianceBernstein National Municipal Income Fund, Inc. is $311.65 million.

How many holdings does AllianceBernstein National Municipal Income Fund, Inc. have?

AllianceBernstein National Municipal Income Fund, Inc. holds 176 holdings.

What is the leverage of AllianceBernstein National Municipal Income Fund, Inc.?

AllianceBernstein National Municipal Income Fund, Inc. has a leverage of 43.25%.

What is the average maturity of the holdings in AllianceBernstein National Municipal Income Fund, Inc.?

The average maturity of the holdings in AllianceBernstein National Municipal Income Fund, Inc. is 16.99 years.