AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE
AllianceBernstein National Municipal Income Fund (NYSE: AFB) released its monthly portfolio update as of September 30, 2025. The Fund reports Total Net Assets of $344.45 million and a Common Stock NAV of $11.98.
Key portfolio metrics: Total fund leverage 39.51%, Effective duration 12.82 years, Average maturity 14.31 years, and AMT percent 20.83%. Credit quality is concentrated in AAA/AA (50.6%) and long-dated bonds (60.94% in 20–30 year maturities).
AllianceBernstein National Municipal Income Fund (NYSE: AFB) ha pubblicato l'aggiornamento mensile del portafoglio al 30 settembre 2025. Il fondo riporta un patrimonio netto totale di 344,45 milioni di dollari e un NAV di azioni ordinarie di 11,98 dollari.
Metriche chiave del portafoglio: leva finanziaria totale del fondo 39,51%, duration effettiva 12,82 anni, scadenza media 14,31 anni e percentuale AMT 20,83%. La qualità del credito è concentrata in AAA/AA (50,6%) e in obbligazioni a lungo termine (60,94% in scadenze 20–30 anni).
AllianceBernstein National Municipal Income Fund (NYSE: AFB) publicó su actualización mensual de la cartera al 30 de septiembre de 2025. El fondo reporta un Activo Neto Total de 344,45 millones de dólares y un NAV de acciones comunes de 11,98 dólares.
Métricas clave de la cartera: apalancamiento total del fondo 39,51%, duración efectiva 12,82 años, madurez media 14,31 años y porcentaje AMT 20,83%. La calidad de crédito se concentra en AAA/AA (50,6%) y en bonos a largo plazo (60,94% en vencimientos de 20 a 30 años).
AllianceBernstein National Municipal Income Fund (NYSE: AFB)가 2025년 9월 30일 기준 월간 포트폴리오 업데이트를 발표했습니다. 이 펀드는 총 순자산 3억 4445만 달러와 보통주 NAV 11.98달러를 보고합니다.
포트폴리오 주요 지표: 펀드 총 레버리지 39.51%, 유효 듀레이션 12.82년, 평균 만기 14.31년, AMT 비율 20.83%. 신용 등급은 AAA/AA(50.6%) 및 장기채권(20~30년 만기 비중 60.94%)에 집중되어 있습니다.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) a publié sa mise à jour mensuelle du portefeuille au 30 septembre 2025. Le fonds affiche des actifs nets totaux de 344,45 millions de dollars et une NAV d'actions ordinaires de 11,98 dollars.
Métriques clés du portefeuille : levier financier total du fonds 39,51%, durée efficace 12,82 ans, échéance moyenne 14,31 ans et pourcentage AMT 20,83%. La qualité du crédit est concentrée en AAA/AA (50,6%) et en obligations à long terme (60,94% sur des maturités de 20 à 30 ans).
AllianceBernstein National Municipal Income Fund (NYSE: AFB) veröffentlichte sein monatliches Portfolioupdate zum 30. September 2025. Der Fonds meldet Gesamtvermögen von 344,45 Mio. USD und einen NAV der Stammaktien von 11,98 USD.
Schlüsselportfoliometriken: Gesamte Verschuldung des Fonds 39,51%, Effektive Duration 12,82 Jahre, Durchschnittliche Laufzeit 14,31 Jahre und AMT-Prozentsatz 20,83%. Die Kreditqualität konzentriert sich auf AAA/AA (50,6%) und lange Anleihen (60,94% mit Laufzeiten von 20–30 Jahren).
AllianceBernstein National Municipal Income Fund (NYSE: AFB) أصدر تحديثه الشهري للمحفظة حتى 30 سبتمبر 2025. يشير الصندوق إلى إجمالي الأصول الصافية 344.45 مليون دولار و< b>NAV للأسهم العادية 11.98 دولار.
المقاييس الأساسية للمحفظة: رفع الرافعة الكلية للصندوق 39.51%، مدة فعالة 12.82 سنة، الأجل المتوسط 14.31 سنة، و نسبة AMT 20.83%. جودة الائتمان مركزة في AAA/AA (50.6%) وفي السندات طويلة الأجل (60.94% في آليات 20–30 سنة).
AllianceBernstein National Municipal Income Fund (NYSE: AFB) 已发布截至 2025年9月30日 的月度投资组合更新。基金报告的 总净资产为3.4445亿美元，普通股 NAV 为 11.98美元。
投资组合的关键指标：基金总杠杆率 39.51%、有效久期 12.82年、平均到期 14.31年、AMT 百分比 20.83%。信用质量集中在 AAA/AA（50.6%），以及长期债券（20–30年期限占比 60.94%）。
- Total net assets of $344.45 million
- High quality bias: AAA + AA = 50.60% of portfolio
- Diversified sector mix with 63.81% revenue-backed holdings
- High total fund leverage at 39.51%
- Long interest-rate exposure: Effective duration 12.82 years
- Maturity concentration: 60.94% in 20–30 year bonds
|
AllianceBernstein National Municipal Income Fund, Inc. |
|
|
|
|
|
|
|
|
|
|
|
Top 10 Fixed-Income Holdings |
|
Portfolio % |
|
1) Melissa Independent School District Series 2024-2 |
|
2.12 % |
|
2) Commonwealth of Massachusetts Series 2024-A |
|
2.01 % |
|
3) Oklahoma Turnpike Authority Series 2023 |
|
1.96 % |
|
4) Dallas Independent School District Series 2024-2 |
|
1.91 % |
|
5) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 |
|
1.88 % |
|
6) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 |
|
1.86 % |
|
7) State of Hawaii Airports System Revenue Series 2025-A |
|
1.86 % |
|
8) Worthington City School District Series 2023 |
|
1.86 % |
|
9) City of Atlanta GA Department of Aviation Series 2025-B |
|
1.85 % |
|
10) County of Miami-Dade FL Aviation Revenue Series 2025-A |
|
1.85 % |
|
|
|
|
|
Sector/Industry Breakdown |
|
Portfolio % |
|
Revenue |
|
|
|
Health Care - Not-for-Profit |
|
13.55 % |
|
Airport |
|
10.30 % |
|
Revenue - Miscellaneous |
|
8.66 % |
|
Toll Roads/Transit |
|
5.49 % |
|
Prepay Energy |
|
4.68 % |
|
Industrial Development - Airline |
|
4.08 % |
|
Higher Education - Private |
|
3.47 % |
|
Primary/Secondary Ed. - Public |
|
3.21 % |
|
Port |
|
2.61 % |
|
Industrial Development - Industry |
|
2.18 % |
|
Higher Education - Public |
|
1.78 % |
|
Senior Living |
|
1.30 % |
|
Electric Utility |
|
1.23 % |
|
Water & Sewer |
|
0.80 % |
|
Tobacco Securitization |
|
0.29 % |
|
Primary/Secondary Ed. - Private |
|
0.18 % |
|
SUBTOTAL |
|
63.81 % |
|
Tax Supported |
|
|
|
Local G.O. |
|
10.98 % |
|
State G.O. |
|
6.41 % |
|
Special Tax |
|
3.51 % |
|
Local Lease |
|
1.48 % |
|
Assessment District |
|
0.18 % |
|
SUBTOTAL |
|
22.56 % |
|
Guaranteed |
|
11.77 % |
|
Asset-Backed |
|
|
|
Housing - Multi-Family |
|
1.48 % |
|
SUBTOTAL |
|
1.48 % |
|
Commercial Mortgage-Backed Securities |
|
|
|
Non-Agency Fixed Rate CMBS |
|
0.36 % |
|
SUBTOTAL |
|
0.36 % |
|
Prerefunded/ETM |
|
0.02 % |
|
Total |
|
100.00 % |
|
|
|
|
|
State Breakdown |
|
Portfolio % |
|
|
|
14.43 % |
|
|
|
9.11 % |
|
|
|
8.51 % |
|
|
|
7.60 % |
|
|
|
7.20 % |
|
|
|
6.50 % |
|
|
|
5.85 % |
|
|
|
4.34 % |
|
|
|
4.18 % |
|
|
|
3.06 % |
|
|
|
2.95 % |
|
|
|
2.73 % |
|
|
|
2.60 % |
|
|
|
2.35 % |
|
|
|
2.04 % |
|
|
|
1.96 % |
|
|
|
1.94 % |
|
|
|
1.86 % |
|
|
|
1.72 % |
|
|
|
1.31 % |
|
|
|
0.97 % |
|
|
|
0.94 % |
|
|
|
0.85 % |
|
|
|
0.76 % |
|
|
|
0.69 % |
|
|
|
0.59 % |
|
|
|
0.50 % |
|
|
|
0.48 % |
|
|
|
0.37 % |
|
|
|
0.36 % |
|
|
|
0.35 % |
|
|
|
0.35 % |
|
|
|
0.23 % |
|
|
|
0.19 % |
|
|
|
0.13 % |
|
Total Investments |
|
100.00 % |
|
|
|
|
|
Credit Quality Breakdown |
|
Portfolio % |
|
AAA |
|
12.33 % |
|
AA |
|
38.27 % |
|
A |
|
21.75 % |
|
BBB |
|
16.17 % |
|
BB |
|
7.20 % |
|
B |
|
0.53 % |
|
Not Rated |
|
3.73 % |
|
Pre-refunded Bonds |
|
0.02 % |
|
Total |
|
100.00 % |
|
|
|
|
|
Bonds by Maturity |
|
Portfolio % |
|
Less than 1 Year |
|
0.19 % |
|
1 to 5 Years |
|
0.18 % |
|
5 to 10 Years |
|
2.42 % |
|
10 to 20 Years |
|
12.15 % |
|
20 to 30 Years |
|
60.94 % |
|
More than 30 Years |
|
24.12 % |
|
Other |
|
0.00 % |
|
Total Net Assets |
|
100.00 % |
|
|
|
|
|
Portfolio Statistics: |
|
|
|
AMT Percent: |
|
20.83 % |
|
Average Coupon: |
|
4.63 % |
|
Percentage of Leverage: |
|
|
|
Bank Borrowing: |
|
0.00 % |
|
Investment Operations: |
|
0.17 % |
|
Auction Preferred Shares (APS): |
|
0.00 % |
|
Tender Option Bonds: |
|
7.45 % |
|
VMTP Shares: |
|
14.95 % |
|
VRDP Shares: |
|
16.94 % |
|
Total Fund Leverage: |
|
|
|
Average Maturity: |
|
14.31 Years |
|
Effective Duration: |
|
12.82 Years |
|
Total Net Assets: |
|
|
|
Common Stock Net Asset Value: |
|
|
|
Total Number of Holdings: |
|
169 |
|
Portfolio Turnover: |
|
32.00 % |
|
|
|
|
|
* The total percentage of leverage constitutes |
|
|
|
in issued and outstanding VMTPs, |
||
|
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 |
|
|
|
in Total Net Assets because it is treated as a liability for financial reporting purposes. |
||
|
|
|
|
|
** The Fund also had outstanding |
|
|
|
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 |
||
View original content:https://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-inc-releases-monthly-portfolio-update-302595655.html
SOURCE AllianceBernstein National Municipal Income Fund, Inc.
FAQ
What are AFB's total net assets and NAV as of September 30, 2025?
How much leverage does AllianceBernstein National Municipal Income Fund (AFB) use?
What is AFB's interest-rate sensitivity and average maturity?
How concentrated is AFB in long‑dated municipal bonds?
What portion of AFB's portfolio is subject to AMT?
What is AFB's credit quality profile by rating?
