AllianceBernstein Fund Updates Portfolio Insights and Metrics
AllianceBernstein National Municipal Income Fund Overview
AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has released its latest portfolio update. This monthly report highlights the current investment landscape and aims to provide insights into the Fund's strategic direction.
Top Fixed-Income Holdings
Among its primary investments, the Fund features several key fixed-income holdings. The list showcases varying portfolio percentages, emphasizing the diversity of its allocations. Here are the top ten fixed-income securities held by the Fund:
1. Lamar Consolidated Independent School District Series 2024-2 5.00%
This investment represents 2.65% of the portfolio, maturing on February 15, 2053.
2. City of New Orleans LA Series 2021-A 5.00%
With a portfolio percentage of 2.61%, this bond matures on December 1, 2046.
3. Greenwood Independent School District Series 2024 4.00%
Comprising 2.26% of the portfolio, it matures on February 15, 2054.
4. Melissa Independent School District Series 2024-2 4.25%
A significant holding at 2.11%, with a maturity date of February 1, 2053.
5. Dallas Independent School District Series 2024-2 4.00%
This bond accounts for 1.91% of the portfolio, maturing on February 15, 2054.
6. New York Transportation Development Corp. Series 2024 Zero Coupon
This zero-coupon bond represents 1.84% of the portfolio, maturing on December 31, 2054.
7. Public Authority for Colorado Energy Series 2008 6.50%
A significant investment at 1.83%, with maturity on November 15, 2038.
8. City of New York NY Series 2023 4.125%
This security accounts for 1.82% of the portfolio, maturing on August 1, 2053.
9. State of Hawaii Airports System Revenue Series 2025-A 5.50%
This bond holds 1.81% of the portfolio, maturing on July 1, 2054.
10. County of Miami-Dade FL Aviation Revenue Series 2025-A 5.50%
Contributing 1.79% to the portfolio, this investment matures on October 1, 2055.
Sector Overview
The portfolio is diversified across several sectors, highlighting the Fund's strategic allocation tactics:
- Revenue: 11.09%
- Health Care - Not-for-Profit: 8.57%
- Airport: 8.19%
- Prepay Energy: 7.22%
- Industrial Development - Airline: 3.58%
- Higher Education - Private: 2.49%
- Water & Sewer: 2.13%
- Electric Utility: 2.05%
- Senior Living: 0.95%
- Other sectors contributing less than 1% include: Tobacco Securitization, Industrial Development - Utility, and various others.
Credit Quality Analysis
The credit quality of the bonds held by AFB is diverse, ranging from high to moderately rated investments:
- AAA: 17.30%
- AA: 29.08%
- A: 26.43%
- BBB: 16.78%
- BB: 5.80%
- B: 0.80%
- Not Rated: 2.37%
Maturity Profile of Holdings
The maturity distribution within the portfolio shows a focus on long-term investments:
- Less than 1 Year: 0.64%
- 1 to 5 Years: 2.92%
- 5 to 10 Years: 4.31%
- 10 to 20 Years: 17.80%
- 20 to 30 Years: 60.63%
- More than 30 Years: 13.70%
Portfolio Statistics
The Fund's operational metrics present a clear view of its performance and investment health:
- AMT Percent: 18.29%
- Average Coupon: 4.78%
- Average Maturity: 11.70 Years
- Effective Duration: 8.95 Years
- Total Net Assets: $362.03 Million
- Common Stock Net Asset Value: $12.59
- Total Number of Holdings: 163
- Portfolio Turnover: 32.00%
Frequently Asked Questions
What is the purpose of the AllianceBernstein Fund update?
The update aims to inform investors about the current state of the portfolio including positions and strategies.
How does the Fund determine its top holdings?
The Fund's top holdings are selected based on several factors, including yield, credit quality, and market conditions.
What sectors are represented in the Fund?
The Fund holds various sectors such as health care, transportation, and education, reflecting broad diversification.
What is the average coupon rate of the Fund's holdings?
The average coupon rate is currently 4.78%, indicating a healthy yield from its investments.
How frequently does the Fund provide portfolio updates?
The Fund provides monthly updates to ensure transparency and keep investors informed of changes.
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