AllianceBernstein National Municipal Income Fund Unveils Latest Portfolio Insights for January 2025
AllianceBernstein National Municipal Income Fund Updates Portfolio for January 2025
On February 24, 2025, AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) announced its latest portfolio update, providing insights into its financial strategy and investment allocations as of January 31, 2025. This monthly disclosure is a vital tool for investors tracking the performance and positioning of the fund in the municipal bond market.
Key Portfolio Holdings
In this update, the Fund highlighted its top 10 fixed-income investments, underscoring the focus on educational and municipal institutions. The leading asset is the Lamar Consolidated Independent School District Series 2024-2 bond, with a 5.00% yield maturing on February 15, 2053, contributing 2.70% to the portfolio. Other significant holdings include bonds from the City of New Orleans and several independent school districts, which collectively reflect the Fund's commitment to financing essential public services.
| Top Holdings | Coupon Rate | Maturity Date | Portfolio Contribution |
|---|---|---|---|
| ---- | ---- | ---- | -------- |
| Lamar Consolidated ISD Series 2024-2 | 5.00% | 02/15/53 | 2.70% |
| City of New Orleans LA Series 2021-A | 5.00% | 12/01/46 | 2.66% |
| Prosper Independent School District | 4.00% | 02/15/54 | 2.41% |
| Greenwood Independent School District | 4.00% | 02/15/54 | 2.29% |
| Melissa Independent School District | 4.25% | 02/01/53 | 2.21% |
| Dallas Independent School District | 4.00% | 02/15/54 | 1.94% |
| City of New York NY Series 2023 | 4.125% | 08/01/53 | 1.87% |
| Public Authority for Colorado Energy | 6.50% | 11/15/38 | 1.84% |
| Denton Independent School District | 5.00% | 08/15/48 | 1.82% |
| New York Transportation Development Corp. | Zero Coupon | 12/31/54 | 1.81% |
Sector and Industry Breakdown
The Fund's portfolio is diverse, with significant investments across various sectors. Notably, the healthcare not-for-profit sector leads with an allocation of 11.30%. This is complemented by various sectors, including prepay energy (7.30%), airport infrastructure (6.26%), and toll roads/transit (3.64%), showcasing the Fund's strategy to invest in stable revenue-generating sectors.
Geographic Diversity
In terms of state allocations, Texas is the most heavily represented state, comprising 19.11% of the Fund's portfolio. Other notable states include Illinois (7.59%), New York (7.44%), and Wisconsin (6.37%). This geographic distribution highlights the Fund's commitment to investing in diverse markets, optimizing risk while capturing opportunities across the nation.
Credit Quality and Maturity
Credit quality remains a key focus for the Fund. Approximately 18.45% of the portfolio is rated AAA, while 27.87% holds an AA rating. The portfolio demonstrates stability with a significant portion in higher-rated investments, ensuring a balanced risk profile. Additionally, the average maturity stands at 11.99 years, enhancing the Fund's exposure to long-term growth potential in the municipal bond market.
Conclusion
The AllianceBernstein National Municipal Income Fund continues to adapt its strategy with a clear focus on public service financing and sustainable investment sectors. This latest portfolio update serves as a comprehensive reflection of the Fund's operations and strategic approach for investors aiming to understand the dynamics of municipal income investing. As municipal bonds remain pivotal in supporting essential services, the Fund’s performance offers a glimpse into how strategic asset selection can drive sustainable returns.
Topics Financial Services & Investing）
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