NEW YORK, June 22, 2026 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of May 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 3.69 %
2) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.14 %
3) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 1.99 %
4) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.96 %
5) Oklahoma Turnpike Authority Series 2023 4.50%, 01/01/53 1.96 %
6) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 1.89 %
7) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54 1.85 %
8) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/55 1.85 %
9) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/55 1.85 %
10) Worthington City School District Series 2025-2 5.50%, 12/01/54 1.84 %
Sector/Industry Breakdown Portfolio %
Revenue
Airport 14.86 %
Health Care - Not-for-Profit 11.02 %
Revenue - Miscellaneous 7.04 %
Toll Roads/Transit 5.88 %
Industrial Development - Airline 5.16 %
Prepay Energy 4.61 %
Primary/Secondary Ed. - Public 4.09 %
Higher Education - Private 3.02 %
Port 2.32 %
Industrial Development - Industry 2.00 %
Higher Education - Public 1.76 %
Senior Living 1.53 %
Water & Sewer 0.80 %
Electric Utility 0.58 %
Tobacco Securitization 0.30 %
Primary/Secondary Ed. - Private 0.17 %
SUBTOTAL 65.14 %
Tax Supported
Local G.O. 10.03 %
State G.O. 6.75 %
Special Tax 3.49 %
Local Lease 1.48 %
Assessment District 0.54 %
State Lease 0.27 %
SUBTOTAL 22.56 %
Guaranteed 9.91 %
Asset-Backed
Housing - Multi-Family 1.70 %
SUBTOTAL 1.70 %
Commercial Mortgage-Backed Securities
Non-Agency Fixed Rate CMBS 0.65 %
SUBTOTAL 0.65 %
Cash & Cash Equivalents
Funds and Investment Trusts 0.02 %
SUBTOTAL 0.02 %
Prerefunded/ETM 0.02 %
Total 100.00 %
State Breakdown Portfolio %
Texas 12.60 %
California 12.38 %
New York 8.30 %
Florida 7.93 %
Illinois 7.87 %
Massachusetts 6.24 %
Wisconsin 5.83 %
Ohio 4.17 %
Georgia 3.68 %
Hawaii 3.66 %
New Hampshire 3.36 %
Pennsylvania 2.84 %
District of Columbia 2.58 %
Oklahoma 2.34 %
Arizona 1.99 %
Colorado 1.95 %
Louisiana 1.75 %
Michigan 1.31 %
Minnesota 1.30 %
Alabama 0.97 %
Nebraska 0.92 %
Virginia 0.76 %
South Carolina 0.69 %
Washington 0.68 %
Utah 0.62 %
Maryland 0.54 %
Tennessee 0.52 %
New Jersey 0.36 %
Arkansas 0.35 %
Indiana 0.35 %
North Dakota 0.35 %
Oregon 0.24 %
Connecticut 0.21 %
Alaska 0.16 %
South Dakota 0.13 %
North Carolina 0.05 %
Other 0.02 %
Total Investments 100.00 %
Credit Quality Breakdown Portfolio %
AAA 10.47 %
AA 39.86 %
A 18.41 %
BBB 16.43 %
BB 7.67 %
B 0.52 %
Not Rated 6.60 %
Pre-refunded Bonds 0.02 %
Short Term Investments 0.02 %
Total 100.00 %
Bonds by Maturity Portfolio %
Less than 1 Year 0.17 %
1 to 5 Years 0.13 %
5 to 10 Years 2.75 %
10 to 20 Years 14.94 %
20 to 30 Years 63.93 %
More than 30 Years 18.08 %
Other 0.00 %
Total Net Assets 100.00 %
Portfolio Statistics:
AMT Percent: 22.75 %
Average Coupon: 5.97 %
Percentage of Leverage:
Bank Borrowing: 0.00 %
Investment Operations: 0.39 %
Auction Preferred Shares (APS): 0.00 %
Tender Option Bonds: 24.84 %
VMTP Shares: 0.00 %
VRDP Shares: 17.42 %
Total Fund Leverage: 42.65%*
Average Maturity: 12.04 Years
Effective Duration: 10.97 Years
Total Net Assets:
$347.05 Million**
Common Stock Net Asset Value: $12.07
Total Number of Holdings: 182
Portfolio Turnover: 56.00 %
* The total percentage of leverage constitutes 24.84% through the use of tender option bonds, 17.42%
in issued and outstanding VRDPs and 0.39% 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.
