NEW YORK, Oct. 26, 2026 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of September 30, 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 3.91 %
2) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.15 %
3) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 2.10 %
4) Worthington City School District Series 2025-2 5.50%, 12/01/54 2.00 %
5) Oklahoma Turnpike Authority Series 2023 4.50%, 01/01/53 1.95 %
6) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/55 1.94 %
7) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/55 1.94 %
8) County of Miami-Dade FL Aviation Revenue Series 2025-A 5.50%, 10/01/55 1.94 %
9) Greenwood Independent School District Series 2025-2 5.00%, 02/15/49 1.92 %
10) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.92 %
Sector/Industry Breakdown Portfolio %
Revenue
Airport 15.47 %
Health Care - Not-for-Profit 10.32 %
Toll Roads/Transit 6.02 %
Industrial Development - Airline 5.28 %
Primary/Secondary Ed. - Public 4.31 %
Revenue - Miscellaneous 4.20 %
Prepay Energy 3.57 %
Higher Education - Private 3.32 %
Student Housing 2.49 %
Port 2.25 %
Industrial Development - Industry 2.07 %
Higher Education - Public 1.85 %
Senior Living 1.74 %
Water & Sewer 1.03 %
Electric Utility 0.59 %
Tobacco Securitization 0.32 %
Primary/Secondary Ed. - Private 0.18 %
SUBTOTAL 65.01 %
Tax Supported
Local G.O. 10.13 %
State G.O. 7.12 %
Special Tax 3.56 %
Local Lease 1.67 %
Assessment District 0.57 %
State Lease 0.30 %
SUBTOTAL 23.35 %
Guaranteed 8.36 %
Asset-Backed
Housing - Multi-Family 2.40 %
SUBTOTAL 2.40 %
Cash & Cash Equivalents
Funds and Investment Trusts 0.86 %
SUBTOTAL 0.86 %
Prerefunded/ETM 0.02 %
Total 100.00 %
State Breakdown Portfolio %
California 12.14 %
Texas 11.32 %
Florida 8.36 %
New York 8.23 %
Illinois 7.73 %
Massachusetts 6.56 %
Wisconsin 5.98 %
Ohio 4.43 %
Georgia 4.25 %
New Hampshire 3.64 %
Hawaii 3.06 %
District of Columbia 2.73 %
Oklahoma 2.36 %
Arizona 2.10 %
Colorado 2.08 %
Pennsylvania 1.52 %
Louisiana 1.43 %
Minnesota 1.36 %
Michigan 1.27 %
Connecticut 0.87 %
Utah 0.80 %
Nebraska 0.79 %
Virginia 0.79 %
Washington 0.72 %
South Carolina 0.70 %
Maryland 0.57 %
Alabama 0.55 %
Tennessee 0.54 %
Indiana 0.52 %
Oregon 0.43 %
New Jersey 0.40 %
Arkansas 0.38 %
North Dakota 0.36 %
South Dakota 0.13 %
North Carolina 0.04 %
Other 0.86 %
Total Investments 100.00 %
Credit Quality Breakdown Portfolio %
AAA 8.92 %
AA 39.40 %
A 17.81 %
BBB 15.98 %
BB 8.15 %
B 0.55 %
Not Rated 8.31 %
Pre-refunded Bonds 0.02 %
Short Term Investments 0.86 %
Total 100.00 %
Bonds by Maturity Portfolio %
Less than 1 Year 0.95 %
1 to 5 Years 0.93 %
5 to 10 Years 1.37 %
10 to 20 Years 13.73 %
20 to 30 Years 63.57 %
More than 30 Years 19.45 %
Other 0.00 %
Total Net Assets 100.00 %
Portfolio Statistics:
AMT Percent: 25.67 %
Average Coupon: 5.74 %
Percentage of Leverage:
Bank Borrowing: 0.00 %
Investment Operations: 0.00 %
Auction Preferred Shares (APS): 0.00 %
Tender Option Bonds: 25.67 %
VMTP Shares: 0.00 %
VRDP Shares: 19.52 %
Total Fund Leverage: 45.19%*
Average Maturity: 22.39 Years
Effective Duration: 17.13 Years
Total Net Assets:
$301.71 Million**
Common Stock Net Asset Value: $10.50
Total Number of Holdings: 185
Portfolio Turnover: 56.00 %
* The total percentage of leverage constitutes 25.67% through the use of tender option bonds, 19.52%
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.
