AllianceBernstein National Municipal Income Fund's Recent Updates
Monthly Portfolio Status of AllianceBernstein National Municipal Income Fund
AllianceBernstein National Municipal Income Fund, Inc. (AFB) has recently released its latest portfolio update, offering insights into its investments and financial strategies. This fund serves as a vital resource for investors interested in the municipal bond market, showcasing a diverse mix of holdings aimed at generating tax-exempt income.
Top Fixed-Income Holdings Overview
The portfolio contains a carefully selected range of fixed-income securities, showcasing a variety of funding sources. The top ten fixed-income holdings represent a strategic allocation aimed at providing sustained income and managing risk effectively.
Key Stakeholders in the Portfolio
- 1) Lamar Consolidated Independent School District Series 2024-2 5.00%, 02/15/53: 2.70%
- 2) City of New Orleans LA Series 2021-A 5.00%, 12/01/46: 2.66%
- 3) Prosper Independent School District Series 2024 4.00%, 02/15/54: 2.41%
- 4) Greenwood Independent School District Series 2024 4.00%, 02/15/54: 2.29%
- 5) Melissa Independent School District Series 2024-2 4.25%, 02/01/53: 2.21%
Sectors and Industries Breakdown
The fund's sector allocation reflects its commitment to diversifying its investments across various industries. This structural approach is integral to managing risks and enhancing potential returns.
Sector Representation
- Health Care - Not-for-Profit: 11.30%
- Prepay Energy: 7.30%
- Airport: 6.26%
- Industrial Development - Airline: 3.57%
- Higher Education - Private: 2.54%
State Breakdown of Investments
The geographic distribution of the investments is focused on states with robust municipal financing. This alignment with fiscal stability aims to mitigate risk while optimizing income potential.
State Investment Details
- Texas: 19.11%
- Illinois: 7.59%
- New York: 7.44%
- Florida: 5.93%
- California: 5.70%
Credit Quality Structure
Assessing the credit quality of the securities within the portfolio is crucial for risk management. The following highlights the portfolio's credit ratings, which are indicative of the safety and reliability of the fund's investments.
Credit Quality Overview
- AAA: 18.45%
- AA: 27.87%
- A: 26.31%
- BBB: 17.12%
Bonds by Maturity
Understanding the maturity profile of the bonds is vital for gauging interest rate sensitivity and cash flow management. The following outlines the maturity distribution of the bonds within the portfolio.
Maturity Distribution
- Less than 1 Year: 0.33%
- 1 to 5 Years: 3.00%
- 5 to 10 Years: 4.57%
- 10 to 20 Years: 18.63%
- 20 to 30 Years: 61.33%
Portfolio Statistics Summary
In reviewing the portfolio, investors are provided with crucial statistics that form the foundation of investment analysis.
Key Statistics
- AMT Percent: 17.83%
- Average Coupon: 4.58%
- Total Net Assets: $357.19 Million
- Common Stock Net Asset Value: $12.43
- Total Number of Holdings: 165
Frequently Asked Questions
What is the focus of the AllianceBernstein National Municipal Income Fund?
The fund primarily focuses on investing in municipal securities to generate tax-exempt income for its investors.
What are the top holdings in the portfolio?
The top holdings include various school district bonds, with significant investments in the Lamar Consolidated Independent School District and the City of New Orleans bonds.
How is the fund diversified?
Diversity is achieved through a mix of investments across multiple sectors and states, reducing risk while aiming for stable returns.
What is the average maturity of the bonds in the portfolio?
The average maturity of the bonds is approximately 11.99 years, indicating a long-term investment horizon.
How does credit quality impact the fund?
Credit quality significantly influences the fund’s risk and return profile. Higher-rated bonds typically provide safety but may yield lower returns compared to lower-rated bonds.
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