AllianceBernstein National Municipal Income Fund Insights
AllianceBernstein National Municipal Income Fund Overview
AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has recently shared its portfolio update, offering valuable insights into its financial performance and investment strategies. This report provides a thorough snapshot of the Fund's holdings as of a recent month-end, highlighting the top ten fixed-income investments along with their respective portfolio percentages.
Top Fixed-Income Holdings and Performance
The Fund's top ten fixed-income holdings significantly contribute to its overall performance. Each holding is carefully chosen based on rigorous analysis and the potential to deliver consistent returns. Here are the top ten fixed-income investments in the Fund:
Top Ten Fixed-Income Holdings
1. Melissa Independent School District Series 2024-2 4.25%, 02/01/53 - 1.97%
2. Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 - 1.93%
3. Worthington City School District Series 2023 5.50%, 12/01/54 - 1.80%
4. New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 - 1.80%
5. Metropolitan Washington Airports Authority Aviation Revenue Series 2025-A 5.50%, 10/01/55 - 1.79%
6. State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54 - 1.78%
7. Dallas Independent School District Series 2024-2 4.00%, 02/15/54 - 1.77%
8. Greenwood Independent School District Series 2025-2 5.00%, 02/15/49 - 1.76%
9. County of Miami-Dade FL Aviation Revenue Series 2025-A 5.50%, 10/01/55 - 1.76%
10. Leander Independent School District Series 2025-A 5.00%, 08/15/55 - 1.74%
Investment Strategy and Asset Allocation
Understanding where a fund invests is crucial for assessing its strategy. The AllianceBernstein National Municipal Income Fund features a diverse portfolio allocation across various investment types. This strategic approach helps mitigate risks and maximize returns for investors.
Investment Type Breakdown
• Bonds: 100%
State Exposure of Investments
The Fund's holdings are also distributed among different states, maximizing opportunities while diversifying risks associated with specific regions. Below are key states and their corresponding portfolio percentages:
State Breakdown
Texas - 16.57%
Florida - 8.60%
Illinois - 8.08%
California - 7.57%
Wisconsin - 6.34%
New York - 6.27%
Massachusetts - 5.48%
Colorado - 3.40%
Ohio - 4.02%
Other States - Minor Allocations
Currency and Credit Quality Exposure
The Fund operates entirely in US Dollars, maintaining 100% currency exposure in the local currency. A look at the Fund's credit quality breakdown reveals a well-rated portfolio:
Credit Quality Distribution
• AAA: 15.13%
• AA: 32.70%
• A: 23.82%
• BBB: 18.30%
• BB: 6.83%
• Not Rated: 2.69%
Portfolio Metrics and Management
The portfolio statistics provide further insights into the Fund's management and structure. The data indicates healthy metrics that reflect a well-maintained investment strategy:
Key Metrics
Average Coupon: 4.73%
AMT Percent: 19.53%
Effective Duration: 12.01 Years
Total Net Assets: $331.36 Million
Portfolio Turnover: 32.00%
Conclusion: A Promising Investment
With a diversified portfolio, strategic investments, and sound financial management, the AllianceBernstein National Municipal Income Fund, Inc. represents a compelling option for investors seeking long-term growth through municipal bonds. The Fund's commitment to maintaining a balanced risk-reward ratio makes it attractive for individuals looking to enhance their investment portfolios.
Frequently Asked Questions
What is the AllianceBernstein National Municipal Income Fund?
It is a closed-end management investment company that invests primarily in municipal bonds.
How are the Fund's holdings selected?
Holdings are chosen based on rigorous analysis to ensure they meet investment criteria for stability and growth.
What percentage of the portfolio is allocated to Texas?
Texas accounts for 16.57% of the Fund's total investments.
What is the average duration of the Fund's investments?
The average duration is approximately 12.01 years.
How does the Fund manage its currency exposure?
The Fund maintains 100% exposure in US Dollars.
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