NEW YORK, April 27, 2026 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of March 31, 2026.
AllianceBernstein National Municipal Income Fund, Inc.
Top 10 Fixed-Income Holdings Portfolio %
1) San Francisco Intl Airport Series 2026-2 5.50%, 05/01/55 3.68 %
2) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.09 %
3) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 1.98 %
4) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.92 %
5) Oklahoma Turnpike Authority Series 2023 4.50%, 01/01/53 1.86 %
6) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54 1.85 %
7) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/55 1.84 %
8) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 1.84 %
9) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/55 1.83 %
10) Worthington City School District Series 2025-2 5.50%, 12/01/54 1.83 %
Sector/Industry Breakdown Portfolio %
Revenue
Airport 13.48 %
Health Care - Not-for-Profit 10.98 %
Revenue - Miscellaneous 7.17 %
Toll Roads/Transit 5.73 %
Industrial Development - Airline 5.10 %
Prepay Energy 4.58 %
Primary/Secondary Ed. - Public 4.00 %
Higher Education - Private 3.80 %
Port 2.27 %
Industrial Development - Industry 1.95 %
Higher Education - Public 1.75 %
Senior Living 1.51 %
Electric Utility 1.11 %
Water & Sewer 0.80 %
Tobacco Securitization 0.29 %
Primary/Secondary Ed. - Private 0.17 %
SUBTOTAL 64.69 %
Tax Supported
Local G.O. 10.22 %
State G.O. 6.68 %
Special Tax 4.95 %
Local Lease 1.47 %
Assessment District 0.36 %
SUBTOTAL 23.68 %
Guaranteed 9.78 %
Asset-Backed
Housing - Multi-Family 1.35 %
SUBTOTAL 1.35 %
Commercial Mortgage-Backed Securities
Agency CMBS 0.36 %
Non-Agency Fixed Rate CMBS 0.12 %
SUBTOTAL 0.48 %
Prerefunded/ETM 0.02 %
Total 100.00 %
State Breakdown Portfolio %
Texas 13.45 %
California 12.18 %
New York 8.15 %
Florida 7.81 %
Illinois 7.73 %
Massachusetts 6.16 %
Wisconsin 6.10 %
Georgia 4.19 %
Ohio 4.11 %
New Hampshire 2.83 %
Pennsylvania 2.82 %
District of Columbia 2.57 %
Oklahoma 2.24 %
Louisiana 2.09 %
Arizona 1.99 %
Colorado 1.93 %
Michigan 1.89 %
Hawaii 1.85 %
Minnesota 1.27 %
Alabama 0.96 %
Nebraska 0.92 %
Indiana 0.82 %
North Carolina 0.75 %
Virginia 0.74 %
South Carolina 0.68 %
Washington 0.67 %
Tennessee 0.52 %
Utah 0.44 %
Maryland 0.36 %
New Jersey 0.36 %
Arkansas 0.35 %
North Dakota 0.35 %
Oregon 0.24 %
Connecticut 0.20 %
Alaska 0.15 %
South Dakota 0.13 %
Total Investments 100.00 %
Credit Quality Breakdown Portfolio %
AAA 10.33 %
AA 40.38 %
A 18.27 %
BBB 18.37 %
BB 7.53 %
B 0.52 %
Not Rated 4.58 %
Pre-refunded Bonds 0.02 %
Total 100.00 %
Bonds by Maturity Portfolio %
Less than 1 Year 0.15 %
1 to 5 Years 0.13 %
5 to 10 Years 2.76 %
10 to 20 Years 13.56 %
20 to 30 Years 63.80 %
More than 30 Years 19.60 %
Other 0.00 %
Total Net Assets 100.00 %
Portfolio Statistics:
AMT Percent: 22.35 %
Average Coupon: 5.09 %
Percentage of Leverage:
Bank Borrowing: 0.00 %
Investment Operations: 0.00 %
Auction Preferred Shares (APS): 0.00 %
Tender Option Bonds: 23.16 %
VMTP Shares: 0.00 %
VRDP Shares: 17.47 %
Total Fund Leverage: 40.63%*
Average Maturity: 14.50 Years
Effective Duration: 12.60 Years
Total Net Assets:
$338.21 Million**
Common Stock Net Asset Value: $11.77
Total Number of Holdings: 181
Portfolio Turnover: 56.00 %
* The total percentage of leverage constitutes 23.16% through the use of tender option bonds, 17.47%
in issued and outstanding VRDPs and 0.00% in investment operations, which may include the use of
certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash,
reverse repurchase agreements and when-issued securities.
** The Fund also had outstanding $100,000,000 of VRDPs at liquidation value, which is not included
in Total Net Assets because it is treated as a liability for financial reporting purposes.
The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The
Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.
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SOURCE AllianceBernstein National Municipal Income Fund, Inc.
