AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE
AllianceBernstein National Municipal Income Fund (NYSE: AFB) has released its March 31, 2025 portfolio update, revealing a total net assets of $346.67 Million. The fund's portfolio shows significant diversification across municipal bonds with Texas (17.19%), Illinois (8.19%), and Florida (7.83%) as top state allocations.
The portfolio maintains strong credit quality with 71.13% of holdings rated A or higher. The fund's structure includes 41.63% total leverage, comprising various instruments including VRDP Shares (17.78%) and VMTP Shares (15.69%). The portfolio contains 159 holdings with an average coupon of 4.48% and effective duration of 10.01 years.
Notable sector concentrations include Health Care - Not-for-Profit (12.36%), Local G.O. (12.19%), and Revenue - Miscellaneous (8.49%). The majority of bonds (61.36%) have maturities between 20-30 years.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) ha pubblicato l'aggiornamento del portafoglio al 31 marzo 2025, rivelando un patrimonio netto totale di 346,67 milioni di dollari. Il portafoglio del fondo mostra una significativa diversificazione tra obbligazioni municipali con Texas (17,19%), Illinois (8,19%) e Florida (7,83%) come principali allocazioni per stato.
Il portafoglio mantiene una solida qualità creditizia con il 71,13% delle posizioni valutate A o superiore. La struttura del fondo include un leverage totale del 41,63%, composto da vari strumenti tra cui VRDP Shares (17,78%) e VMTP Shares (15,69%). Il portafoglio comprende 159 titoli con una cedola media del 4,48% e una durata effettiva di 10,01 anni.
Le concentrazioni settoriali più rilevanti includono Sanità senza scopo di lucro (12,36%), Obbligazioni comunali generali locali (12,19%) e Entrate - Varie (8,49%). La maggior parte delle obbligazioni (61,36%) ha scadenze comprese tra 20 e 30 anni.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) ha publicado su actualización de cartera al 31 de marzo de 2025, revelando un total de activos netos de 346,67 millones de dólares. La cartera del fondo muestra una diversificación significativa en bonos municipales con Texas (17,19%), Illinois (8,19%) y Florida (7,83%) como las principales asignaciones por estado.
La cartera mantiene una sólida calidad crediticia con el 71,13% de las posiciones calificadas A o superior. La estructura del fondo incluye un apalancamiento total del 41,63%, compuesto por varios instrumentos, incluyendo acciones VRDP (17,78%) y acciones VMTP (15,69%). La cartera contiene 159 activos con un cupón promedio de 4,48% y una duración efectiva de 10,01 años.
Las concentraciones sectoriales notables incluyen Salud sin fines de lucro (12,36%), Obligaciones generales locales (12,19%) y Ingresos - Misceláneos (8,49%). La mayoría de los bonos (61,36%) tienen vencimientos entre 20 y 30 años.
AllianceBernstein National Municipal Income Fund (NYSE: AFB)는 2025년 3월 31일 기준 포트폴리오 업데이트를 발표하며, 총 순자산 3억 4667만 달러를 공개했습니다. 이 펀드의 포트폴리오는 텍사스(17.19%), 일리노이(8.19%), 플로리다(7.83%)를 주요 주별 배분으로 하는 지방채에 걸쳐 상당한 분산을 보여줍니다.
포트폴리오는 71.13%가 A등급 이상인 강한 신용 등급을 유지하고 있습니다. 펀드 구조는 VRDP 주식(17.78%)과 VMTP 주식(15.69%)을 포함한 다양한 수단으로 구성된 총 레버리지 41.63%를 포함합니다. 포트폴리오에는 159개 보유 종목이 있으며 평균 쿠폰은 4.48%, 유효 듀레이션은 10.01년입니다.
주요 섹터 집중은 비영리 의료(12.36%), 지방 일반채권(Local G.O., 12.19%), 그리고 기타 수익채권(8.49%)입니다. 채권의 대다수(61.36%)는 만기가 20~30년 사이입니다.
AllianceBernstein National Municipal Income Fund (NYSE : AFB) a publié sa mise à jour de portefeuille au 31 mars 2025, révélant un actif net total de 346,67 millions de dollars. Le portefeuille du fonds présente une diversification significative à travers les obligations municipales avec Texas (17,19%), Illinois (8,19%) et Floride (7,83%) comme principales allocations par État.
Le portefeuille maintient une solide qualité de crédit avec 71,13% des avoirs notés A ou plus. La structure du fonds inclut un effet de levier total de 41,63%, comprenant divers instruments tels que les actions VRDP (17,78%) et VMTP (15,69%). Le portefeuille contient 159 titres avec un coupon moyen de 4,48% et une duration effective de 10,01 ans.
Les concentrations sectorielles notables comprennent les soins de santé à but non lucratif (12,36%), les obligations générales locales (12,19%) et les revenus divers (8,49%). La majorité des obligations (61,36%) ont des échéances comprises entre 20 et 30 ans.
Der AllianceBernstein National Municipal Income Fund (NYSE: AFB) hat sein Portfolioupdate zum 31. März 2025 veröffentlicht und weist ein Gesamtvermögen von 346,67 Millionen US-Dollar aus. Das Portfolio des Fonds zeigt eine bedeutende Diversifikation bei Kommunalanleihen mit Texas (17,19%), Illinois (8,19%) und Florida (7,83%) als wichtigsten Bundesstaat-Allokationen.
Das Portfolio hält eine starke Kreditqualität mit 71,13% der Bestände mit Rating A oder höher. Die Fondsstruktur umfasst eine Gesamtverschuldung von 41,63%, bestehend aus verschiedenen Instrumenten, darunter VRDP-Anteile (17,78%) und VMTP-Anteile (15,69%). Das Portfolio enthält 159 Positionen mit einem durchschnittlichen Kupon von 4,48% und einer effektiven Duration von 10,01 Jahren.
Bemerkenswerte Sektorkonzentrationen umfassen gemeinnützige Gesundheitsversorgung (12,36%), lokale General Obligation Bonds (12,19%) und sonstige Einnahmen (8,49%). Die Mehrheit der Anleihen (61,36%) hat Laufzeiten zwischen 20 und 30 Jahren.
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AllianceBernstein National Municipal Income Fund, Inc. | ||
Top 10 Fixed-Income Holdings | Portfolio % | |
1) Lamar Consolidated Independent School District Series 2024-2 | 2.73 % | |
2) City of New Orleans LA Series 2021-A | 2.71 % | |
3) Greenwood Independent School District Series 2024 | 2.27 % | |
4) Melissa Independent School District Series 2024-2 | 2.14 % | |
5) Dallas Independent School District Series 2024-2 | 1.94 % | |
6) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 | 1.86 % | |
7) Public Authority for Colorado Energy Series 2008 | 1.86 % | |
8) County of Miami-Dade FL Aviation Revenue Series 2025-A | 1.85 % | |
9) City of New York NY Series 2023 | 1.85 % | |
10) Denton Independent School District Series 2023 | 1.83 % | |
Sector/Industry Breakdown | Portfolio % | |
Revenue | ||
Health Care - Not-for-Profit | 12.36 % | |
Revenue - Miscellaneous | 8.49 % | |
Airport | 7.47 % | |
Prepay Energy | 7.39 % | |
Toll Roads/Transit | 3.71 % | |
Industrial Development - Airline | 3.65 % | |
Primary/Secondary Ed. - Public | 2.69 % | |
Higher Education - Private | 2.58 % | |
Water & Sewer | 2.36 % | |
Electric Utility | 2.14 % | |
Port | 2.07 % | |
Tobacco Securitization | 1.90 % | |
Industrial Development - Industry | 1.89 % | |
Senior Living | 0.97 % | |
Industrial Development - Utility | 0.54 % | |
SUBTOTAL | 60.21 % | |
Tax Supported | ||
Local G.O. | 12.19 % | |
State G.O. | 6.11 % | |
Special Tax | 4.74 % | |
Assessment District | 0.18 % | |
SUBTOTAL | 23.22 % | |
Guaranteed | 14.63 % | |
Prerefunded/ETM | 1.01 % | |
Asset-Backed | ||
Housing - Multi-Family | 0.93 % | |
SUBTOTAL | 0.93 % | |
Total | 100.00 % | |
State Breakdown | Portfolio % | |
17.19 % | ||
8.19 % | ||
7.83 % | ||
7.55 % | ||
6.73 % | ||
5.78 % | ||
4.56 % | ||
3.92 % | ||
3.76 % | ||
3.50 % | ||
2.72 % | ||
2.71 % | ||
2.61 % | ||
2.45 % | ||
2.32 % | ||
1.91 % | ||
1.83 % | ||
1.67 % | ||
1.50 % | ||
1.39 % | ||
0.99 % | ||
0.98 % | ||
0.93 % | ||
0.90 % | ||
0.86 % | ||
0.80 % | ||
0.77 % | ||
0.68 % | ||
0.53 % | ||
0.47 % | ||
0.38 % | ||
0.35 % | ||
0.35 % | ||
0.33 % | ||
0.23 % | ||
0.20 % | ||
0.13 % | ||
Total Investments | 100.00 % | |
Credit Quality Breakdown | Portfolio % | |
AAA | 17.63 % | |
AA | 26.10 % | |
A | 27.40 % | |
BBB | 18.42 % | |
BB | 6.30 % | |
B | 0.47 % | |
Not Rated | 2.67 % | |
Pre-refunded Bonds | 1.01 % | |
Total | 100.00 % | |
Bonds by Maturity | Portfolio % | |
Less than 1 Year | 0.19 % | |
1 To 5 Years | 2.88 % | |
5 To 10 Years | 4.49 % | |
10 To 20 Years | 16.70 % | |
20 To 30 Years | 61.36 % | |
More than 30 Years | 14.38 % | |
Other | 0.00 % | |
Total Net Assets | 100.00 % | |
Portfolio Statistics: | ||
AMT Percent: | 19.79 % | |
Average Coupon: | 4.48 % | |
Percentage of Leverage: | ||
Bank Borrowing: | 0.00 % | |
Investment Operations: | 0.35 % | |
Auction Preferred Shares (APS): | 0.00 % | |
Tender Option Bonds: | 7.81 % | |
VMTP Shares: | 15.69 % | |
VRDP Shares: | 17.78 % | |
Total Fund Leverage: | ||
Average Maturity: | 14.01 Years | |
Effective Duration: | 10.01 Years | |
Total Net Assets: | ||
Common Stock Net Asset Value: | ||
Total Number of Holdings: | 159 | |
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 | ||
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SOURCE AllianceBernstein National Municipal Income Fund, Inc.
FAQ
What is the current asset allocation of AFB's municipal bond portfolio by state?
How is AFB's credit quality distributed across its portfolio as of March 2025?
What is the maturity structure of AFB's municipal bond holdings?
What is AFB's current leverage composition and total percentage?
What are the largest sector allocations in AFB's portfolio?
