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

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AllianceBernstein National Municipal Income Fund (NYSE: AFB) has released its monthly portfolio update as of September 30, 2024. The fund's total net assets stand at $371.52 Million, with a common stock net asset value of $12.92. The portfolio comprises 171 holdings with a 55% turnover rate.

Key portfolio metrics include an average coupon of 4.57%, average maturity of 10.09 years, and effective duration of 8.05 years. The fund maintains significant positions in Texas (19.31%), Illinois (8.77%), and Florida (7.01%). Credit quality is predominantly in AA (29.45%) and A (26.06%) ratings, with 56.06% of bonds maturing in 20-30 years. The total fund leverage is 39.49%, including various financing instruments.

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NEW YORK, Oct. 28, 2024 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of September 30, 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		2.68 %
2) City of New Orleans LA Series 2021-A 5.00%, 12/01/46		2.66 %
3) Prosper Independent School District Series 2024 4.00%, 02/15/54		2.42 %
4) Greenwood Independent School District Series 2024 4.00%, 02/15/54		2.30 %
5) Melissa Independent School District Series 2024-2 4.25%, 02/01/53		2.14 %
6) Dallas Independent School District Series 2024-2 4.00%, 02/15/54		1.95 %
7) City of New York NY Series 2023 4.125%, 08/01/53		1.87 %
8) Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38		1.86 %
9) Denton Independent School District Series 2024-2 5.00%, 08/15/48		1.81 %
10) Commonwealth of Massachusetts Series 2024-2 5.00%, 05/01/53		1.80 %
Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		10.95 %
Prepay Energy		7.30 %
Revenue - Miscellaneous		7.20 %
Airport		6.20 %
Toll Roads/Transit		3.26 %
Electric Utility		2.45 %
Industrial Development - Industry		2.44 %
Higher Education - Private		2.29 %
Port		1.86 %
Tobacco Securitization		1.85 %
Water & Sewer		1.81 %
Primary/Secondary Ed. - Public		1.79 %
Industrial Development - Airline		1.74 %
Senior Living		0.96 %
Industrial Development - Utility		0.51 %
SUBTOTAL		52.61 %
Tax Supported
Local G.O.		16.75 %
State G.O.		6.09 %
Special Tax		5.62 %
Assessment District		0.18 %
State Lease		0.13 %
SUBTOTAL		28.77 %
Guaranteed		15.43 %
Prerefunded/ETM		2.07 %
Asset-Backed
Housing - Multi-Family		0.76 %
SUBTOTAL		0.76 %
Cash & Cash Equivalents
Funds and Investment Trusts		0.36 %
SUBTOTAL		0.36 %
Total		100.00 %
State Breakdown		Portfolio %
Texas		19.31 %
Illinois		8.77 %
Florida		7.01 %
New York		6.56 %
California		5.52 %
Wisconsin		4.80 %
Michigan		4.50 %
South Carolina		3.87 %
Massachusetts		3.84 %
Pennsylvania		3.58 %
New Jersey		2.83 %
Louisiana		2.81 %
Georgia		2.44 %
Colorado		2.43 %
Nevada		2.00 %
Arizona		1.98 %
Washington		1.89 %
Ohio		1.88 %
Alabama		1.79 %
Nebraska		1.60 %
Oklahoma		1.19 %
Minnesota		1.12 %
Iowa		0.97 %
Virginia		0.88 %
Indiana		0.85 %
New Hampshire		0.81 %
Utah		0.77 %
North Carolina		0.76 %
Tennessee		0.60 %
North Dakota		0.43 %
Puerto Rico		0.42 %
Maryland		0.37 %
Arkansas		0.33 %
Oregon		0.22 %
Connecticut		0.19 %
Alaska		0.18 %
South Dakota		0.14 %
Other		0.36 %
Total Investments		100.00 %
Credit Quality Breakdown		Portfolio %
AAA		18.69 %
AA		29.45 %
A		26.06 %
BBB		17.39 %
BB		3.97 %
B		0.14 %
Not Rated		1.87 %
Pre-refunded Bonds		2.07 %
Short Term Investments		0.36 %
Total		100.00 %
Bonds by Maturity		Portfolio %
Less than 1 Year		1.62 %
1 To 5 Years		3.11 %
5 To 10 Years		4.74 %
10 To 20 Years		19.61 %
20 To 30 Years		56.06 %
More than 30 Years		14.86 %
Other		0.00 %
Total Net Assets		100.00 %
Portfolio Statistics:
AMT Percent:		14.17 %
Average Coupon:		4.57 %
Percentage of Leverage:
Bank Borrowing:		0.00 %
Investment Operations:		1.06 %
Auction Preferred Shares (APS):		0.00 %
Tender Option Bonds:		7.27 %
VMTP Shares:		14.61 %
VRDP Shares:		16.55 %
Total Fund Leverage:		39.49%*
Average Maturity:		10.09 Years
Effective Duration:		8.05 Years
Total Net Assets:		$371.52 Million**
Common Stock Net Asset Value:		$12.92
Total Number of Holdings:		171
Portfolio Turnover:		55.00 %

* The total percentage of leverage constitutes 7.27% through the use of tender option bonds, 14.61% in issued and outstanding VMTPs, 16.55% in issued and outstanding VRDPs and 1.06% 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.

 

View original content:https://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-inc-releases-monthly-portfolio-update-302289046.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

What are the top 3 state exposures in AllianceBernstein National Municipal Income Fund (AFB) as of September 2024?

As of September 2024, AFB's top 3 state exposures are Texas (19.31%), Illinois (8.77%), and Florida (7.01%).

What is the total net asset value of AFB as of September 30, 2024?

The total net assets of AFB as of September 30, 2024, are $371.52 Million.

What is the credit quality breakdown of AFB's portfolio as of September 2024?

AFB's portfolio credit quality consists of AAA (18.69%), AA (29.45%), A (26.06%), BBB (17.39%), BB (3.97%), B (0.14%), Not Rated (1.87%), Pre-refunded Bonds (2.07%), and Short Term Investments (0.36%).

What is AFB's largest single holding as of September 2024?

AFB's largest holding is Lamar Consolidated Independent School District Series 2024-2 5.00%, maturing 02/15/53, representing 2.68% of the portfolio.