AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE
AllianceBernstein National Municipal Income Fund (NYSE: AFB) has released its monthly portfolio update as of July 31, 2025, revealing a diverse municipal bond portfolio with $322.75 million in total net assets.
Rhea-AI Summary
AllianceBernstein National Municipal Income Fund (NYSE: AFB) has released its monthly portfolio update as of July 31, 2025, revealing a diverse municipal bond portfolio with $322.75 million in total net assets. The fund maintains significant leverage at 48.58% of gross assets and holds 173 positions.
The portfolio shows strong geographic diversification across 37 states, with Texas (17.67%), Florida (9.34%), and California (8.09%) representing the largest state allocations. Credit quality is concentrated in investment grade bonds, with 70% rated A or higher. The fund's portfolio is heavily weighted toward longer-duration securities, with 80.72% of holdings having maturities exceeding 20 years.
Positive
- None.
Negative
- High leverage at 48.58% increases risk and potential volatility
- Heavy concentration in long-duration bonds (80.72% > 20 years) creates interest rate risk
- Relatively high portfolio turnover at 32%
- Limited short-term liquidity with only 1.41% in sub-1-year maturities
Details
News Market Reaction – AFB
On Aug 26, the first trading day after this news, AFB closed 0.10% above the previous close.
Data tracked by StockTitan Argus for the Aug 26 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
AllianceBernstein National Municipal Income Fund, Inc. | ||
Top 10 Fixed-Income Holdings | Portfolio % | |
1) Greenwood Independent School District Series 2024 | 3.67 % | |
2) Melissa Independent School District Series 2024-2 | 2.01 % | |
3) Commonwealth of Massachusetts Series 2024-A | 2.00 % | |
4) Worthington City School District Series 2023 | 1.86 % | |
5) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 | 1.85 % | |
6) State of Hawaii Airports System Revenue Series 2025-A | 1.85 % | |
7) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 | 1.84 % | |
8) Dallas Independent School District Series 2024-2 | 1.83 % | |
9) County of Miami-Dade FL Aviation Revenue Series 2025-A | 1.82 % | |
10) Leander Independent School District Series 2025-A | 1.81 % | |
Investment Type | Portfolio % | |
State Breakdown | Portfolio % | |
17.67 % | ||
9.34 % | ||
8.09 % | ||
7.57 % | ||
6.95 % | ||
6.35 % | ||
5.01 % | ||
4.13 % | ||
3.57 % | ||
2.86 % | ||
2.59 % | ||
2.53 % | ||
2.34 % | ||
2.08 % | ||
2.02 % | ||
1.91 % | ||
1.85 % | ||
1.29 % | ||
1.20 % | ||
1.11 % | ||
1.00 % | ||
0.95 % | ||
0.82 % | ||
0.75 % | ||
0.64 % | ||
0.51 % | ||
0.50 % | ||
0.44 % | ||
0.39 % | ||
0.37 % | ||
0.36 % | ||
0.36 % | ||
0.35 % | ||
0.34 % | ||
0.22 % | ||
0.19 % | ||
0.13 % | ||
Other | 1.22 % | |
Total Investments | 100.00 % | |
Net Currency Exposure Breakdown | Portfolio % | |
US Dollar | 100.00 % | |
Total Net Assets | 100.00 % | |
Credit Quality Breakdown | Portfolio % | |
AAA | 15.44 % | |
AA | 31.01 % | |
A | 23.54 % | |
BBB | 16.47 % | |
BB | 7.19 % | |
B | 0.53 % | |
Not Rated | 4.58 % | |
Pre-refunded Bonds | 0.02 % | |
Short Term Investments | 1.22 % | |
Total | 100.00 % | |
Bonds by Maturity | Portfolio % | |
Less than 1 Year | 1.41 % | |
1 to 5 Years | 0.18 % | |
5 to 10 Years | 2.85 % | |
10 to 20 Years | 14.84 % | |
20 to 30 Years | 57.24 % | |
More than 30 Years | 23.48 % | |
Other | 0.00 % | |
Total Net Assets | 100.00 % | |
Portfolio Statistics: | ||
AMT Percent: | 22.86 % | |
Average Coupon: | 4.60 % | |
Percentage of Leverage(based on gross assets): | ||
Bank Borrowing: | 0.00 % | |
Investment Operations: | 2.32 % | |
Auction Preferred Shares (APS): | 0.00 % | |
Tender Option Bonds: | 12.88 % | |
VMTP Shares: | 15.65 % | |
VRDP Shares: | 17.73 % | |
Total Fund Leverage: | 48.58 % | |
Average Maturity: | 17.96 Years | |
Effective Duration: | 12.26 Years | |
Total Net Assets: | ||
Net Asset Value: | ||
Total Number of Holdings: | 173 | |
Portfolio Turnover: | 32.00 % |
* Investment Operations 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 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-302537880.html
SOURCE AllianceBernstein National Municipal Income Fund, Inc.
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