AllianceBernstein National Municipal Income Fund Update
AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) recently shared its monthly portfolio update reflecting its investment strategies at the end of December.
Top Fixed-Income Holdings
Investors can benefit from insights into the top holdings of the fund. The ten primary fixed-income investments include:
Top Ten Holdings Breakdown
The top positions of the fund show a well-diversified approach:
- Melissa Independent School District’s Series 2024-2 bonds yield 2.16%.
- The Commonwealth of Massachusetts Series 2025-2 bonds provide a yield of 2.00%.
- Oklahoma Turnpike Authority’s Series 2023 bonds yield 1.97%.
- Dallas Independent School District’s bonds achieve a yield of 1.93%.
- New York Transportation Development Corporation, with a zero coupon bond, yields 1.92%.
- State of Hawaii Airports System Revenue Series bonds offer a yield of 1.86%.
- Worthington City School District’s bonds yield 1.86%.
- City of Atlanta Department of Aviation bonds yield 1.85%.
- Metropolitan Washington Airports Authority provides a yield of 1.85%.
- County of Miami-Dade’s bonds yield 1.83%.
Sector and Industry Overview
The Fund’s portfolio demonstrates exposure across various sectors, allowing for a well-rounded investment strategy. The following sectors are represented:
Sector Allocations
- Health Care - Not-for-Profit: 12.77%
- Airport: 10.26%
- Revenue - Miscellaneous: 7.18%
- Toll Roads/Transit: 5.51%
- Industrial Development - Airline: 5.14%
- Prepay Energy: 4.74%
- Higher Education - Private: 3.83%
- Primary/Secondary Education - Public: 3.57%
- Port developments: 2.61%
- Industrial Development - Industry: 2.05%
- Higher Education - Public: 1.77%
- Electric Utility: 1.47%
- Senior Living: 1.35%
- Water & Sewer: 0.80%
- Tobacco Securitization: 0.30%
- Primary/Secondary Education - Private: 0.17%
Geographical Breakdown
The fund includes a diverse geographical allocation, helping investors gauge risk and opportunities:
State Allocations
- Texas: 14.47%
- California: 8.86%
- New York: 7.95%
- Florida: 7.89%
- Illinois: 7.85%
- Massachusetts: 5.84%
- Wisconsin: 5.48%
- Georgia: 4.58%
- Ohio: 4.18%
- Pennsylvania: 3.00%
- District of Columbia: 2.58%
- New Hampshire: 2.53%
- South Carolina: 2.38%
- Oklahoma: 2.36%
- Louisiana: 2.30%
- Colorado: 2.08%
- Arizona: 2.05%
- Michigan: 1.91%
- Hawaii: 1.86%
- Minnesota: 1.31%
- Alabama: 0.97%
- Nebraska: 0.95%
- Indiana: 0.85%
- North Carolina: 0.76%
- Virginia: 0.76%
- Washington: 0.69%
- Tennessee: 0.52%
- Alaska: 0.49%
- Maryland: 0.37%
- New Jersey: 0.36%
- North Dakota: 0.36%
- Arkansas: 0.35%
- Oregon: 0.24%
- Connecticut: 0.20%
- Utah: 0.18%
- South Dakota: 0.14%
- Other: 0.35%
Credit Quality Assessment
The fund emphasizes quality in its investment choices. It aims to maintain a strong credit profile:
Credit Quality Breakdown
- AAA: 12.41%
- AA: 38.08%
- A: 19.97%
- BBB: 17.87%
- BB: 6.60%
- B: 0.53%
- Not Rated: 4.30%
- Pre-refunded Bonds: 0.02%
- Short Term Investments: 0.22%
Bonds by Maturity
Investors analyzing the portfolio will find maturity dates enticing for their investment planning:
Maturity Distribution
- Less than 1 Year: 0.37%
- 1 to 5 Years: 0.13%
- 5 to 10 Years: 2.61%
- 10 to 20 Years: 14.00%
- 20 to 30 Years: 64.21%
- More than 30 Years: 18.68%
- Other: 0.00%
Overall Portfolio Statistics
Investors can review the fund's overall characteristics:
- AMT Percent: 19.78%
- Average Coupon: 4.88%
- Average Maturity: 13.64 Years
- Effective Duration: 11.82 Years
- Total Number of Holdings: 176
- Portfolio Turnover: 56.00%
Frequent Updates
The fund emphasizes the importance of staying updated with ongoing investment strategies and portfolio changes. The characteristics highlighted are as of the latest report and may adjust over time.
Frequently Asked Questions
What is the latest report date for the AllianceBernstein Fund?
The latest portfolio update reflects statistics as of December 31, 2025.
What is the ticker symbol for the AllianceBernstein National Municipal Income Fund?
The ticker symbol for this fund is NYSE: AFB.
What is the fund's strategy regarding bond maturity?
The fund includes a majority of its bonds in the 20 to 30-year range, offering a long-term investment horizon.
How does credit quality impact the fund's portfolio?
Maintaining a strong credit quality is crucial for risk management and ensures steady income for investors.
How frequently does AllianceBernstein update its portfolio information?
The fund updates its portfolio information monthly, allowing investors to monitor performance consistently.