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AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE
NEW YORK, Nov. 24, 2025 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of October 31, 2025.
AllianceBernstein National Municipal Income Fund, Inc.
| Top 10 Fixed-Income Holdings | | Portfolio % |
| 1) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 | | 2.15 % |
| 2) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 | | 1.99 % |
| 3) Oklahoma Turnpike Authority Series 2023 4.50%, 01/01/53 | | 1.94 % |
| 4) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 | | 1.93 % |
| 5) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 | | 1.90 % |
| 6) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54 | | 1.86 % |
| 7) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/55 | | 1.86 % |
| 8) Worthington City School District Series 2025-2 5.50%, 12/01/54 | | 1.84 % |
| 9) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/55 | | 1.84 % |
| 10) County of Miami-Dade FL Aviation Revenue Series 2025-2 5.50%, 10/01/55 | | 1.83 % |
| | | |
| Sector/Industry Breakdown | | Portfolio % |
| Revenue | | |
| Health Care - Not-for-Profit | | 13.30 % |
| Airport | | 10.25 % |
| Revenue - Miscellaneous | | 7.66 % |
| Toll Roads/Transit | | 5.46 % |
| Prepay Energy | | 4.70 % |
| Industrial Development - Airline | | 4.09 % |
| Primary/Secondary Ed. - Public | | 3.50 % |
| Higher Education - Private | | 3.47 % |
| Port | | 2.60 % |
| Industrial Development - Industry | | 2.14 % |
| Higher Education - Public | | 1.76 % |
| Electric Utility | | 1.46 % |
| Senior Living | | 1.33 % |
| Water & Sewer | | 0.80 % |
| Tobacco Securitization | | 0.30 % |
| Primary/Secondary Ed. - Private | | 0.17 % |
| SUBTOTAL | | 62.99 % |
| Tax Supported | | |
| Local G.O. | | 11.30 % |
| State G.O. | | 6.37 % |
| Special Tax | | 3.52 % |
| Local Lease | | 1.48 % |
| Assessment District | | 0.18 % |
| SUBTOTAL | | 22.85 % |
| Guaranteed | | 11.78 % |
| Asset-Backed | | |
| Housing - Multi-Family | | 1.32 % |
| SUBTOTAL | | 1.32 % |
| Cash & Cash Equivalents | | |
| Funds and Investment Trusts | | 0.68 % |
| SUBTOTAL | | 0.68 % |
| Commercial Mortgage-Backed Securities | | |
| Non-Agency Fixed Rate CMBS | | 0.36 % |
| SUBTOTAL | | 0.36 % |
| Prerefunded/ETM | | 0.02 % |
| Total | | 100.00 % |
| | | |
| State Breakdown | | Portfolio % |
| Texas | | 14.43 % |
| California | | 8.72 % |
| Florida | | 8.50 % |
| Illinois | | 8.11 % |
| New York | | 6.89 % |
| Wisconsin | | 6.13 % |
| Massachusetts | | 5.81 % |
| Georgia | | 4.56 % |
| Ohio | | 4.17 % |
| Pennsylvania | | 2.99 % |
| South Carolina | | 2.97 % |
| New Hampshire | | 2.68 % |
| District of Columbia | | 2.59 % |
| Oklahoma | | 2.33 % |
| Arizona | | 2.04 % |
| Louisiana | | 1.94 % |
| Michigan | | 1.89 % |
| Hawaii | | 1.86 % |
| Colorado | | 1.72 % |
| Minnesota | | 1.30 % |
| Alabama | | 0.96 % |
| Nebraska | | 0.92 % |
| Indiana | | 0.85 % |
| North Carolina | | 0.75 % |
| Washington | | 0.68 % |
| Virginia | | 0.58 % |
| Tennessee | | 0.50 % |
| Alaska | | 0.49 % |
| Maryland | | 0.37 % |
| New Jersey | | 0.35 % |
| North Dakota | | 0.35 % |
| Arkansas | | 0.34 % |
| Oregon | | 0.23 % |
| Connecticut | | 0.19 % |
| South Dakota | | 0.13 % |
| Other | | 0.68 % |
| Total Investments | | 100.00 % |
| | | |
| Credit Quality Breakdown | | Portfolio % |
| AAA | | 12.35 % |
| AA | | 38.89 % |
| A | | 19.87 % |
| BBB | | 16.51 % |
| BB | | 7.41 % |
| B | | 0.53 % |
| Not Rated | | 3.74 % |
| Pre-refunded Bonds | | 0.02 % |
| Short Term Investments | | 0.68 % |
| Total | | 100.00 % |
| | | |
| Bonds by Maturity | | Portfolio % |
| Less than 1 Year | | 0.83 % |
| 1 to 5 Years | | 0.13 % |
| 5 to 10 Years | | 2.40 % |
| 10 to 20 Years | | 11.92 % |
| 20 to 30 Years | | 65.28 % |
| More than 30 Years | | 19.44 % |
| Other | | 0.00 % |
| Total Net Assets | | 100.00 % |
| | | |
| Portfolio Statistics: | | |
| AMT Percent: | | 20.88 % |
| Average Coupon: | | 5.05 % |
| Percentage of Leverage: | | |
| Bank Borrowing: | | 0.00 % |
| Investment Operations: | | 0.84 % |
| Auction Preferred Shares (APS): | | 0.00 % |
| Tender Option Bonds: | | 22.80 % |
| VMTP Shares: | | 0.00 % |
| VRDP Shares: | | 17.23 % |
| Total Fund Leverage: | | 40.87%* |
| Average Maturity: | | 13.17 Years |
| Effective Duration: | | 11.48 Years |
| Total Net Assets: | | $350.77 Million** |
| Common Stock Net Asset Value: | | $12.20 |
| Total Number of Holdings: | | 171 |
| Portfolio Turnover: | | 32.00 % |
| |
| * The total percentage of leverage constitutes 22.80% through the use of tender option bonds, 17.23% in issued and outstanding VRDPs and 0.84% 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. |
View original content:https://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-inc-releases-monthly-portfolio-update-302624863.html
SOURCE AllianceBernstein National Municipal Income Fund, Inc.
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