AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE
- Diversified portfolio across 36 states reducing geographic risk
- Strong credit quality with 68.61% of holdings rated A or better
- Significant exposure to revenue bonds (63.87%) providing stable income streams
- High leverage at 46.05% which could amplify losses in market downturns
- Heavy concentration in long-term bonds (77.09% over 20 years) increasing interest rate risk
- Significant exposure to lower-rated and non-rated securities (12.07% combined in BB, B, and Not Rated)
AllianceBernstein National Municipal Income Fund, Inc. | ||
Top 10 Fixed-Income Holdings | Portfolio % | |
1) City of New Orleans LA Series 2021-A | 2.25 % | |
2) Melissa Independent School District Series 2024-2 | 2.22 % | |
3) Greenwood Independent School District Series 2025-2 | 2.19 % | |
4) Dallas Independent School District Series 2024-2 | 2.00 % | |
5) Public Authority for Colorado Energy Series 2008 | 1.96 % | |
6) State of Hawaii Airports System Revenue Series 2025-2 | 1.96 % | |
7) County of Miami-Dade FL Aviation Revenue Series 2025-A | 1.95 % | |
8) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 | 1.95 % | |
9) Commonwealth of Massachusetts Series 2023 | 1.93 % | |
10) City of New York NY Series 2023 | 1.92 % | |
Sector/Industry Breakdown | Portfolio % | |
Revenue | ||
Health Care - Not-for-Profit | 12.45 % | |
Airport | 8.97 % | |
Revenue - Miscellaneous | 8.16 % | |
Prepay Energy | 7.79 % | |
Toll Roads/Transit | 5.40 % | |
Industrial Development - Airline | 3.84 % | |
Primary/Secondary Ed. - Public | 3.11 % | |
Higher Education - Private | 2.70 % | |
Water & Sewer | 2.44 % | |
Port | 2.16 % | |
Tobacco Securitization | 2.00 % | |
Industrial Development - Industry | 1.96 % | |
Electric Utility | 1.30 % | |
Senior Living | 1.01 % | |
Industrial Development - Utility | 0.58 % | |
SUBTOTAL | 63.87 % | |
Tax Supported | ||
Local G.O. | 11.83 % | |
Special Tax | 4.97 % | |
State G.O. | 4.46 % | |
Assessment District | 0.19 % | |
SUBTOTAL | 21.45 % | |
Guaranteed | 13.30 % | |
Asset-Backed | ||
Housing - Multi-Family | 1.36 % | |
SUBTOTAL | 1.36 % | |
Prerefunded/ETM | 0.02 % | |
Total | 100.00 % | |
State Breakdown | Portfolio % | |
16.00 % | ||
10.05 % | ||
8.56 % | ||
7.54 % | ||
7.03 % | ||
6.08 % | ||
3.98 % | ||
3.82 % | ||
3.64 % | ||
3.51 % | ||
2.58 % | ||
2.50 % | ||
2.25 % | ||
2.05 % | ||
2.03 % | ||
1.96 % | ||
1.94 % | ||
1.93 % | ||
1.76 % | ||
1.47 % | ||
1.36 % | ||
0.98 % | ||
0.94 % | ||
0.89 % | ||
0.81 % | ||
0.70 % | ||
0.55 % | ||
0.53 % | ||
0.47 % | ||
0.40 % | ||
0.38 % | ||
0.37 % | ||
0.35 % | ||
0.24 % | ||
0.21 % | ||
0.14 % | ||
Total Investments | 100.00 % | |
Credit Quality Breakdown | Portfolio % | |
AAA | 13.66 % | |
AA | 29.16 % | |
A | 25.79 % | |
BBB | 19.30 % | |
BB | 7.60 % | |
B | 0.34 % | |
Not Rated | 4.13 % | |
Pre-refunded Bonds | 0.02 % | |
Total | 100.00 % | |
Bonds by Maturity | Portfolio % | |
Less than 1 Year | 0.20 % | |
1 to 5 Years | 2.34 % | |
5 to 10 Years | 3.71 % | |
10 to 20 Years | 16.66 % | |
20 to 30 Years | 61.37 % | |
More than 30 Years | 15.72 % | |
Other | 0.00 % | |
Total Net Assets | 100.00 % | |
Portfolio Statistics: | ||
AMT Percent: | 19.37 % | |
Average Coupon: | 4.47 % | |
Percentage of Leverage: | ||
Bank Borrowing: | 0.00 % | |
Investment Operations: | 0.00 % | |
Auction Preferred Shares (APS): | 0.00 % | |
Tender Option Bonds: | 12.08 % | |
VMTP Shares: | 15.93 % | |
VRDP Shares: | 18.04 % | |
Total Fund Leverage: | ||
Average Maturity: | 15.62 Years | |
Effective Duration: | 10.87 Years | |
Total Net Assets: | ||
Common Stock Net Asset Value: | ||
Total Number of Holdings: | 156 | |
Portfolio Turnover: | 32.00 % |
* The total percentage of leverage constitutes | ||
** The Fund also had outstanding | ||
** The Fund also had outstanding | ||
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-302464546.html
SOURCE AllianceBernstein National Municipal Income Fund, Inc.