AllianceBernstein National Municipal Fund Updates Portfolio
AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] has shared its latest monthly portfolio update, reflecting on asset allocations and key holdings. This monthly assessment provides significant insights into the financial dynamics within the fund as managed by AllianceBernstein.
Top Fixed-Income Holdings Overview
The Fund's top fixed-income holdings represent critical investments that contribute to its performance. Here’s a closer look at the top 10 fixed-income securities within the portfolio:
Highlights of the Most Valuable Fixed-Income Holdings
- City of New Orleans LA Series 2021-A 5.00%, 12/01/46 - 2.25%
- Melissa Independent School District Series 2024-2 4.25%, 02/01/53 - 2.22%
- Greenwood Independent School District Series 2025-2 5.50%, 02/15/49 - 2.19%
- Dallas Independent School District Series 2024-2 4.00%, 02/15/54 - 2.00%
- Public Authority for Colorado Energy Series 2008 6.50%, 11/15/38 - 1.96%
- State of Hawaii Airports System Revenue Series 2025-2 5.00%, 07/01/54 - 1.96%
- County of Miami-Dade FL Aviation Revenue Series 2025-A 5.50%, 10/01/55 - 1.95%
- New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 - 1.95%
- Commonwealth of Massachusetts Series 2023 5.00%, 05/01/53 - 1.93%
- City of New York NY Series 2023 4.125%, 08/01/53 - 1.92%
Sector and Industry Distribution
Understanding the sector and industry breakdown provides an idea of the Fund's strategic asset allocation. Here is a brief outline of where the fund stands in various sectors:
Sector Allocation Insights
- 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 Education - Public: 3.11%
- Higher Education - Private: 2.70%
- Water & Sewer: 2.44%
- Port: 2.16%
Portfolio Quality Evaluation
The credit quality breakdown is crucial for assessing risk and stability in the portfolio. Here's a summary of the credit quality of the holdings:
Credit Ratings Overview
- AAA: 13.66%
- AA: 29.16%
- A: 25.79%
- BBB: 19.30%
- BB: 7.60%
- B: 0.34%
- Not Rated: 4.13%
Insights on Maturities and Holdings
The maturity structure of the portfolio informs investors about risk exposure over different time horizons. Here’s an overview of the holdings by maturity:
Maturity Breakdown
- 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%
Portfolio Statistical Analysis
As of the latest portfolio update, several key statistics highlight the Fund's operational framework and profile:
- Average Coupon: 4.47%
- Average Maturity: 15.62 Years
- Effective Duration: 10.87 Years
- Total Net Assets: $337.84 Million
- Total Number of Holdings: 156
- Portfolio Turnover: 32.00%
Frequently Asked Questions
1. What is the top holding of AllianceBernstein National Municipal Fund?
The top holding is the City of New Orleans LA Series 2021-A with a 5.00% coupon.
2. How is the portfolio allocated across sectors?
The highest allocation is to Health Care - Not-for-Profit at 12.45%.
3. What is the average maturity of the bonds in the fund?
The average maturity of the bonds is 15.62 years.
4. What is the total number of holdings in the AllianceBernstein National Municipal Fund?
There are a total of 156 holdings in the fund.
5. How much leverage does the fund utilize?
The total percentage of leverage utilized by the fund stands at 46.05%.
