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

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AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has released its monthly portfolio update as of August 31, 2024. The fund's top fixed-income holding is Lamar Consolidated Independent School District Series 2024-2 at 2.71% of the portfolio. The sector breakdown shows Revenue at 51.35% and Tax Supported at 31.19% as the largest categories.

Texas leads the state breakdown at 20.17%, followed by Illinois at 9.38%. The credit quality breakdown indicates AA rated bonds at 29.69% as the largest segment. The majority of bonds (55.34%) have maturities between 20 to 30 years. The fund's total leverage is 39.32%, with VRDP Shares accounting for 16.78%. The fund's total net assets are $365.87 Million, with a common stock net asset value of $12.73.

NEW YORK, Sept. 23, 2024 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of August 31, 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		2.71 %
2) City of New Orleans LA Series 2021-A 5.00%, 12/01/46		2.68 %
3) Prosper Independent School District Series 2024 4.00%, 02/15/54		2.40 %
4) Greenwood Independent School District Series 2024 4.00%, 02/15/54		2.29 %
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		1.94 %
7) Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38		1.87 %
8) City of New York NY Series 2023 4.125%, 08/01/53		1.87 %
9) Denton Independent School District Series 2024-2 5.00%, 08/15/48		1.83 %
10) Commonwealth of Massachusetts Series 2024-2 5.00%, 05/01/53		1.82 %
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		11.47 %
Prepay Energy		7.34 %
Revenue - Miscellaneous		7.08 %
Airport		5.17 %
Toll Roads/Transit		3.28 %
Electric Utility		2.46 %
Higher Education - Private		2.31 %
Industrial Development - Industry		2.11 %
Tobacco Securitization		1.87 %
Water & Sewer		1.82 %
Primary/Secondary Ed. - Public		1.80 %
Industrial Development - Airline		1.76 %
Port		1.75 %
Senior Living		0.61 %
Industrial Development - Utility		0.52 %
SUBTOTAL		51.35 %
Tax Supported
Local G.O.		17.56 %
State G.O.		7.21 %
Special Tax		5.67 %
State Lease		0.57 %
Assessment District		0.18 %
SUBTOTAL		31.19 %
Guaranteed		15.43 %
Prerefunded/ETM		0.99 %
Asset-Backed
Housing - Multi-Family		0.77 %
SUBTOTAL		0.77 %
Cash & Cash Equivalents
Funds and Investment Trusts		0.27 %
SUBTOTAL		0.27 %
Total		100.00 %
State Breakdown		Portfolio %
Texas		20.17 %
Illinois		9.38 %
New York		6.61 %
Florida		5.98 %
California		5.54 %
Wisconsin		4.83 %
Michigan		4.54 %
Massachusetts		3.88 %
South Carolina		3.88 %
Pennsylvania		3.52 %
New Jersey		3.30 %
Louisiana		2.84 %
Georgia		2.44 %
Colorado		2.33 %
Arizona		1.99 %
Ohio		1.90 %
Washington		1.90 %
Nevada		1.65 %
Nebraska		1.61 %
Alabama		1.46 %
Oklahoma		1.20 %
Minnesota		1.13 %
Iowa		0.97 %
Virginia		0.88 %
Indiana		0.85 %
Utah		0.77 %
North Carolina		0.76 %
New Hampshire		0.63 %
Tennessee		0.60 %
North Dakota		0.43 %
Maryland		0.37 %
Arkansas		0.34 %
Puerto Rico		0.32 %
Oregon		0.22 %
Connecticut		0.19 %
Alaska		0.18 %
South Dakota		0.14 %
Other		0.27 %
Total Investments		100.00 %
Credit Quality Breakdown		Portfolio %
AAA		18.72 %
AA		29.69 %
A		27.43 %
BBB		17.27 %
BB		3.97 %
B		0.14 %
CCC		0.12 %
D		0.18 %
Not Rated		1.22 %
Pre-refunded Bonds		0.99 %
Short Term Investments		0.27 %
Total		100.00 %
Bonds by Maturity		Portfolio %
Less than 1 Year		0.45 %
1 To 5 Years		2.43 %
5 To 10 Years		6.16 %
10 To 20 Years		21.24 %
20 To 30 Years		55.34 %
More than 30 Years		14.38 %
Other		0.00 %
Total Net Assets		100.00 %
Portfolio Statistics:
AMT Percent:		13.08 %
Average Coupon:		4.59 %
Percentage of Leverage:
Bank Borrowing:		0.00 %
Investment Operations:		0.36 %
Auction Preferred Shares (APS):		0.00 %
Tender Option Bonds:		7.37 %
VMTP Shares:		14.81 %
VRDP Shares:		16.78 %
Total Fund Leverage:		39.32%*
Average Maturity:		10.66 Years
Effective Duration:		11.09 Years
Total Net Assets:		$365.87 Million**
Common Stock Net Asset Value:		$12.73
Total Number of Holdings:		165
Portfolio Turnover:		55.00 %

* The total percentage of leverage constitutes 7.37% through the use of tender option bonds, 14.81% in issued and outstanding VMTPs, 16.78% in issued and outstanding VRDPs and 0.36% 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.

 

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SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

What is the top fixed-income holding of AllianceBernstein National Municipal Income Fund (AFB) as of August 31, 2024?

The top fixed-income holding is Lamar Consolidated Independent School District Series 2024-2 5.00%, 02/15/53, representing 2.71% of the portfolio.

What is the total leverage of AFB as reported in the August 31, 2024 update?

The total fund leverage is 39.32%, which includes various forms of borrowing and preferred shares.

What is the largest sector in AFB's portfolio according to the August 2024 update?

The largest sector is Revenue, accounting for 51.35% of the portfolio, with Health Care - Not-for-Profit being the largest sub-sector at 11.47%.

Which state has the highest allocation in AFB's portfolio as of August 31, 2024?

Texas has the highest allocation at 20.17% of the portfolio.

What is the average coupon of the bonds in AFB's portfolio as of August 2024?

The average coupon of the bonds in the portfolio is 4.59%.