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. 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.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) ha pubblicato l'aggiornamento mensile del portafoglio al 31 luglio 2025, mostrando un portafoglio municipale diversificato con 322,75 milioni di dollari di attivi netti totali. Il fondo mantiene una leva significativa pari al 48,58% degli attivi lordi e detiene 173 posizioni.
Il portafoglio è ben distribuito sul piano geografico in 37 stati, con Texas (17,67%), Florida (9,34%) e California (8,09%) come principali allocazioni statali. La qualità del credito è concentrata in titoli investment grade, con il 70% classificato A o superiore. Il portafoglio è fortemente orientato verso obbligazioni a più lunga scadenza: il 80,72% degli strumenti ha maturità oltre i 20 anni.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) ha publicado su actualización mensual de cartera al 31 de julio de 2025, revelando una cartera municipal diversificada con 322,75 millones de dólares en activos netos totales. El fondo mantiene un apalancamiento significativo del 48,58% sobre los activos brutos y posee 173 posiciones.
La cartera muestra una fuerte diversificación geográfica en 37 estados, con Texas (17,67%), Florida (9,34%) y California (8,09%) como las mayores asignaciones por estado. La calidad crediticia se concentra en bonos investment grade, con un 70% calificado A o superior. La cartera está fuertemente orientada a valores de mayor duración: el 80,72% de las tenencias tiene vencimientos superiores a 20 años.
AllianceBernstein National Municipal Income Fund (NYSE: AFB)는 2025년 7월 31일 현재 월간 포트폴리오 업데이트를 발표했으며, 총 순자산 3억2275만 달러의 다양한 지방채 포트폴리오를 공개했습니다. 이 펀드는 총자산의 48.58%에 해당하는 상당한 레버리지를 유지하고 있으며 173개 포지션을 보유하고 있습니다.
포트폴리오는 37개 주에 걸쳐 강한 지리적 분산을 보이며, 텍사스(17.67%), 플로리다(9.34%), 캘리포니아(8.09%)가 주요 주별 배분을 차지합니다. 신용등급은 투자등급에 집중되어 있으며 70%가 A등급 이상입니다. 포트폴리오는 만기가 긴 증권에 편중되어 있어 80.72%가 20년을 초과하는 만기를 갖고 있습니다.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) a publié sa mise à jour mensuelle de portefeuille au 31 juillet 2025, révélant un portefeuille d'obligations municipales diversifié doté de 322,75 millions de dollars d'actifs nets totaux. Le fonds maintient un effet de levier important de 48,58% des actifs bruts et détient 173 positions.
Le portefeuille présente une forte diversification géographique sur 37 États, avec le Texas (17,67%), la Floride (9,34%) et la Californie (8,09%) comme principales allocations par État. La qualité de crédit est concentrée sur les obligations investment grade, 70% étant notées A ou plus. Le portefeuille est fortement orienté vers des titres de longue durée : 80,72% des avoirs ont des échéances supérieures à 20 ans.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) hat sein monatliches Portfolio-Update zum 31. Juli 2025 veröffentlicht und legt ein diversifiziertes Kommunalanleihen-Portfolio mit 322,75 Mio. USD an Nettomitteln offen. Der Fonds weist eine signifikante Hebelwirkung von 48,58% der Bruttovermögen auf und hält 173 Positionen.
Das Portfolio ist geografisch über 37 Bundesstaaten stark diversifiziert, wobei Texas (17,67%), Florida (9,34%) und Kalifornien (8,09%) die größten Länderallokationen darstellen. Die Kreditqualität konzentriert sich auf Investment-Grade-Anleihen, wobei 70% mit A oder höher bewertet sind. Das Portfolio ist stark auf längerfristige Wertpapiere ausgerichtet: 80,72% der Bestände haben Laufzeiten von über 20 Jahren.
- None.
- 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
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.
FAQ
What is the current Net Asset Value (NAV) of AllianceBernstein National Municipal Income Fund (AFB)?
How diversified is AFB's municipal bond portfolio across states?
What is the credit quality breakdown of AFB's portfolio?
How much leverage does AFB currently use?
What is the maturity profile of AFB's bond holdings?
