AllianceBernstein National Municipal Fund Shares Latest Update
AllianceBernstein National Municipal Income Fund Update
AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) is pleased to share its monthly portfolio update to provide stakeholders with vital insights as of the end of the last month. This update serves as a comprehensive overview of the fund's current positions, allowing investors to gauge its performance and strategic direction.
Top Fixed-Income Holdings
Leading Investments Overview
In our latest portfolio structure, the following fixed-income assets represent our top holdings:
- 1) Melissa Independent School District Series 2024-2 4.25% | 2.12%
- 2) Commonwealth of Massachusetts Series 2024-A 5.00% | 2.01%
- 3) Oklahoma Turnpike Authority Series 2023 4.50% | 1.96%
- 4) Dallas Independent School District Series 2024-2 4.00% | 1.91%
- 5) New York Transportation Development Corp. Series 2024 Zero Coupon | 1.88%
- 6) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50% | 1.86%
- 7) State of Hawaii Airports System Revenue Series 2025-A 5.50% | 1.86%
- 8) Worthington City School District Series 2023 5.50% | 1.86%
- 9) City of Atlanta GA Department of Aviation Series 2025-B 5.50% | 1.85%
- 10) County of Miami-Dade FL Aviation Revenue Series 2025-A 5.50% | 1.85%
Sector Breakdown
The fund's asset composition spans across various sectors:
- Health Care - Not-for-Profit: 13.55%
- Airport: 10.30%
- Revenue - Miscellaneous: 8.66%
- Toll Roads/Transit: 5.49%
- Prepay Energy: 4.68%
- Industrial Development - Airline: 4.08%
- Higher Education - Private: 3.47%
- Primary/Secondary Education - Public: 3.21%
- Port: 2.61%
- Industrial Development - Industry: 2.18%
State Breakdown and Credit Quality
Investment by Geographic Allocation
Our geographical distribution showcases significant investments, with Texas leading at 14.43%, closely followed by California and Florida:
- Texas: 14.43%
- California: 9.11%
- Florida: 8.51%
- Illinois: 7.60%
- Wisconsin: 7.20%
Ensuring Durability
Our credit quality breakdown stands strong with a significant majority in high-rated investments:
- AAA: 12.33%
- AA: 38.27%
- A: 21.75%
- BBB: 16.17%
- BB: 7.20%
- B: 0.53%
Portfolio Statistics and Insights
The fund's portfolio statistics reflect its strategic orientation towards sustainable investments:
- AMT Percent: 20.83%
- Average Coupon: 4.63%
- Total Net Assets: $344.45 Million
- Common Stock Net Asset Value: $11.98
- Total Number of Holdings: 169
- Portfolio Turnover: 32.00%
* The total percentage of leverage includes issued VMTPs and VRDPs, assessed periodically to ensure alignment with investment strategies and market conditions.
Outlook and Strategic Direction
As the fund looks toward future endeavors, it remains committed to adapting its strategy to align with evolving market conditions and investor expectations. AllianceBernstein continues to employ rigorous investment techniques to seek optimal returns for its investors.
Frequently Asked Questions
What is the primary focus of the AllianceBernstein National Municipal Income Fund?
The fund invests selectively in tax-exempt fixed-income securities, primarily municipal bonds, to generate income for investors.
How does the fund determine its portfolio allocations?
The fund's management utilizes a combination of fundamental analysis and market trends to make informed decisions about asset allocation.
What is the significance of AMT in the fund's investments?
Allocation towards AMT investments signifies exposure to bonds that may be subject to alternative minimum tax, influencing overall tax efficiency.
How often are portfolio updates shared with investors?
Regular updates are disclosed on a monthly and quarterly basis, ensuring investors are well-informed regarding portfolio performance.
Can investors redeem their shares anytime?
Investors can typically redeem shares based on market conditions and the fund's policies, reflecting its liquidity status.
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