STOCK TITAN
  1. Home
  2. News
  3. AFB
  4. AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE

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

Rhea-AI Impact
(No impact)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
AllianceBernstein National Municipal Income Fund (NYSE: AFB) has released its portfolio update as of April 30, 2025. The fund's total net assets stand at $337.84 Million with a NAV of $11.75. The portfolio consists of 156 holdings with a turnover rate of 32%. Key portfolio metrics include an average coupon of 4.47%, average maturity of 15.62 years, and effective duration of 10.87 years. The fund maintains significant geographic diversification with Texas (16%), Florida (10.05%), and Illinois (8.56%) as top state allocations. Credit quality is predominantly investment-grade, with 68.61% rated A or higher. The portfolio shows a strong preference for longer-term bonds, with 77.09% of holdings having maturities exceeding 20 years. The fund employs 46.05% total leverage through various instruments including tender option bonds, VMTP shares, and VRDP shares.

AllianceBernstein National Municipal Income Fund (NYSE: AFB) ha pubblicato l'aggiornamento del portafoglio al 30 aprile 2025. Il valore totale netto degli asset è di 337,84 milioni di dollari con un NAV di 11,75 dollari. Il portafoglio è composto da 156 titoli con un tasso di rotazione del 32%. Le principali metriche del portafoglio includono un coupon medio del 4,47%, una scadenza media di 15,62 anni e una duration effettiva di 10,87 anni. Il fondo mantiene una significativa diversificazione geografica con Texas (16%), Florida (10,05%) e Illinois (8,56%) come principali allocazioni statali. La qualità creditizia è prevalentemente investment-grade, con il 68,61% valutato A o superiore. Il portafoglio mostra una forte preferenza per obbligazioni a lungo termine, con il 77,09% dei titoli con scadenze superiori a 20 anni. Il fondo utilizza una leva totale del 46,05% attraverso vari strumenti, inclusi tender option bonds, azioni VMTP e azioni VRDP.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) ha publicado su actualización de cartera al 30 de abril de 2025. Los activos netos totales del fondo ascienden a 337,84 millones de dólares con un NAV de 11,75. La cartera consta de 156 posiciones con una tasa de rotación del 32%. Las métricas clave de la cartera incluyen un cupón promedio del 4,47%, una madurez promedio de 15,62 años y una duración efectiva de 10,87 años. El fondo mantiene una diversificación geográfica significativa con Texas (16%), Florida (10,05%) e Illinois (8,56%) como principales asignaciones estatales. La calidad crediticia es predominantemente de grado de inversión, con un 68,61% calificado como A o superior. La cartera muestra una fuerte preferencia por bonos a largo plazo, con el 77,09% de las posiciones con vencimientos superiores a 20 años. El fondo emplea un apalancamiento total del 46,05% mediante varios instrumentos, incluyendo bonos de opción de licitación, acciones VMTP y acciones VRDP.
AllianceBernstein National Municipal Income Fund (NYSE: AFB)는 2025년 4월 30일 기준 포트폴리오 업데이트를 발표했습니다. 펀드의 총 순자산은 3억 3,784만 달러이며, 순자산가치(NAV)는 11.75입니다. 포트폴리오는 156개 보유 종목으로 구성되어 있으며 회전율은 32%입니다. 주요 포트폴리오 지표로는 평균 쿠폰 4.47%, 평균 만기 15.62년, 유효 듀레이션 10.87년이 포함됩니다. 펀드는 텍사스(16%), 플로리다(10.05%), 일리노이(8.56%)를 주요 주별 배분으로 하여 지리적 다각화를 유지하고 있습니다. 신용 등급은 주로 투자 등급이며, 68.61%가 A등급 이상입니다. 포트폴리오는 만기 20년을 초과하는 장기 채권에 강한 선호를 보이며, 보유 종목의 77.09%가 해당 만기를 가지고 있습니다. 펀드는 텐더 옵션 채권, VMTP 주식, VRDP 주식 등 다양한 수단을 통해 총 46.05%의 레버리지를 사용하고 있습니다.
AllianceBernstein National Municipal Income Fund (NYSE : AFB) a publié sa mise à jour de portefeuille au 30 avril 2025. Les actifs nets totaux du fonds s'élèvent à 337,84 millions de dollars avec une valeur liquidative (NAV) de 11,75. Le portefeuille comprend 156 titres avec un taux de rotation de 32 %. Les principales métriques du portefeuille incluent un coupon moyen de 4,47 %, une maturité moyenne de 15,62 ans et une duration effective de 10,87 ans. Le fonds maintient une diversification géographique significative avec le Texas (16 %), la Floride (10,05 %) et l'Illinois (8,56 %) comme principales allocations par État. La qualité de crédit est majoritairement investment grade, avec 68,61 % notés A ou plus. Le portefeuille montre une forte préférence pour les obligations à long terme, avec 77,09 % des titres ayant une maturité supérieure à 20 ans. Le fonds utilise un effet de levier total de 46,05 % via divers instruments, notamment des obligations à option d'achat (tender option bonds), des actions VMTP et des actions VRDP.
Der AllianceBernstein National Municipal Income Fund (NYSE: AFB) hat sein Portfolio-Update zum 30. April 2025 veröffentlicht. Die Gesamtnettowerte des Fonds belaufen sich auf 337,84 Millionen US-Dollar mit einem NAV von 11,75. Das Portfolio besteht aus 156 Positionen bei einer Umschlagshäufigkeit von 32%. Wichtige Portfoliokennzahlen umfassen einen durchschnittlichen Kupon von 4,47%, eine durchschnittliche Laufzeit von 15,62 Jahren und eine effektive Duration von 10,87 Jahren. Der Fonds weist eine bedeutende geografische Diversifikation auf, wobei Texas (16%), Florida (10,05%) und Illinois (8,56%) die größten Bundesstaatenallokationen sind. Die Kreditqualität ist überwiegend Investment-Grade, mit 68,61% bewertet mit A oder höher. Das Portfolio zeigt eine starke Präferenz für langfristige Anleihen, wobei 77,09% der Positionen Laufzeiten von über 20 Jahren haben. Der Fonds nutzt insgesamt 46,05% Hebelwirkung durch verschiedene Instrumente, darunter Tender-Option Bonds, VMTP-Aktien und VRDP-Aktien.
Positive
  • 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
Negative
  • 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)

NEW YORK, May 23, 2025 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of April 30, 2025.

AllianceBernstein National Municipal Income Fund, Inc.









Top 10 Fixed-Income Holdings


Portfolio %

1) City of New Orleans LA Series 2021-A 5.00%, 12/01/46


2.25 %

2) Melissa Independent School District Series 2024-2 4.25%, 02/01/53


2.22 %

3) Greenwood Independent School District Series 2025-2 5.50%, 02/15/49


2.19 %

4) Dallas Independent School District Series 2024-2 4.00%, 02/15/54


2.00 %

5) Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38


1.96 %

6) State of Hawaii Airports System Revenue Series 2025-2 5.00%, 07/01/54


1.96 %

7) County of Miami-Dade FL Aviation Revenue Series 2025-A 5.50%, 10/01/55


1.95 %

8) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54


1.95 %

9) Commonwealth of Massachusetts Series 2023 5.00%, 05/01/53


1.93 %

10) City of New York NY Series 2023 4.125%, 08/01/53


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 %

Texas


16.00 %

Florida


10.05 %

Illinois


8.56 %

New York


7.54 %

Wisconsin


7.03 %

California


6.08 %

Michigan


3.98 %

South Carolina


3.82 %

Massachusetts


3.64 %

Pennsylvania


3.51 %

Colorado


2.58 %

Ohio


2.50 %

Louisiana


2.25 %

New Jersey


2.05 %

Alabama


2.03 %

Hawaii


1.96 %

New Hampshire


1.94 %

Arizona


1.93 %

Nebraska


1.76 %

Georgia


1.47 %

Minnesota


1.36 %

Nevada


0.98 %

Virginia


0.94 %

Indiana


0.89 %

North Carolina


0.81 %

Alaska


0.70 %

Tennessee


0.55 %

Washington


0.53 %

Utah


0.47 %

Maryland


0.40 %

North Dakota


0.38 %

Arkansas


0.37 %

Oklahoma


0.35 %

Oregon


0.24 %

Connecticut


0.21 %

South Dakota


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:


46.05%*

Average Maturity:


   15.62 Years

Effective Duration:


   10.87 Years

Total Net Assets:


$337.84 Million**

Common Stock Net Asset Value:


$11.75

Total Number of Holdings:


156

Portfolio Turnover:


32.00 %


* The total percentage of leverage constitutes 12.08% through the use of tender option bonds, 15.93% in issued and outstanding VMTPs, 18.04% in issued and outstanding VRDPs and 0.00% 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.

 

Cision 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.

FAQ

What is the current Net Asset Value (NAV) of AllianceBernstein National Municipal Income Fund (AFB)?

As of April 30, 2025, the Common Stock Net Asset Value (NAV) of AFB is $11.75.

What are the top 3 state exposures in AFB's portfolio?

The top 3 state exposures in AFB's portfolio are Texas (16.00%), Florida (10.05%), and Illinois (8.56%).

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

The portfolio's credit quality breakdown is: AAA (13.66%), AA (29.16%), A (25.79%), BBB (19.30%), BB (7.60%), B (0.34%), Not Rated (4.13%), and Pre-refunded Bonds (0.02%).

How much leverage does AFB currently employ?

AFB employs a total leverage of 46.05%, consisting of 12.08% tender option bonds, 15.93% VMTP shares, and 18.04% VRDP shares.

What is the maturity structure of AFB's portfolio?

The majority of AFB's bonds (77.09%) have maturities over 20 years, with 61.37% between 20-30 years and 15.72% over 30 years. The remaining bonds are distributed across shorter maturities.
Stock AFB logo
AllianceBernstein Nat Muni Inc

NYSE:AFB

AFB Rankings

#4976 Ranked by Market Cap
#693 Ranked by Dividends

AFB Latest News

Jun 27, 2025
ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. REPORTS SECOND QUARTER EARNINGS
Jun 23, 2025
AllianceBernstein National Municipal Income Fund, Inc. Releases Monthly Portfolio Update
Jun 23, 2025
ALLIANCEBERNSTEIN CLOSED-END FUNDS ANNOUNCE DISTRIBUTION RATES
May 23, 2025
ALLIANCEBERNSTEIN CLOSED-END FUNDS ANNOUNCE DISTRIBUTION RATES
Apr 21, 2025
AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE

AFB Latest SEC Filings

Jun 26, 2025
[NPORT-P] Alliance National Municipal Income Fund, Inc. SEC Filing

AFB Stock Data

294.92M
28.74M
68.78%
0.06%
Asset Management
Financial Services
Link
United States
Nashville

Related Articles

Continue reading with these related stories

View All Latest News