NEW YORK, Aug. 24, 2026 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of July 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 | 3.71 % | |
2) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 | 2.11 % | |
3) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 | 2.00 % | |
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 | 1.93 % | |
6) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 | 1.87 % | |
7) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54 | 1.85 % | |
8) Worthington City School District Series 2025-2 5.50%, 12/01/54 | 1.85 % | |
9) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/55 | 1.85 % | |
10) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/55 | 1.84 % | |
Sector/Industry Breakdown | Portfolio % | |
Revenue | ||
Airport | 14.72 % | |
Health Care - Not-for-Profit | 10.30 % | |
Toll Roads/Transit | 5.87 % | |
Industrial Development - Airline | 5.19 % | |
Revenue - Miscellaneous | 4.63 % | |
Prepay Energy | 4.36 % | |
Primary/Secondary Ed. - Public | 4.25 % | |
Higher Education - Private | 3.15 % | |
Student Housing | 2.39 % | |
Port | 2.18 % | |
Industrial Development - Industry | 2.00 % | |
Senior Living | 1.86 % | |
Higher Education - Public | 1.78 % | |
Water & Sewer | 1.50 % | |
Electric Utility | 0.57 % | |
Tobacco Securitization | 0.30 % | |
Primary/Secondary Ed. - Private | 0.17 % | |
SUBTOTAL | 65.22 % | |
Tax Supported | ||
Local G.O. | 9.79 % | |
State G.O. | 6.76 % | |
Special Tax | 3.44 % | |
Local Lease | 1.58 % | |
Assessment District | 0.54 % | |
State Lease | 0.28 % | |
SUBTOTAL | 22.39 % | |
Guaranteed | 9.89 % | |
Asset-Backed | ||
Housing - Multi-Family | 1.80 % | |
SUBTOTAL | 1.80 % | |
Commercial Mortgage-Backed Securities | ||
Non-Agency Fixed Rate CMBS | 0.51 % | |
SUBTOTAL | 0.51 % | |
Cash & Cash Equivalents | ||
Funds and Investment Trusts | 0.17 % | |
SUBTOTAL | 0.17 % | |
Prerefunded/ETM | 0.02 % | |
Total | 100.00 % | |
State Breakdown | Portfolio % | |
Texas | 12.57 % | |
California | 12.04 % | |
Florida | 8.45 % | |
New York | 8.30 % | |
Illinois | 7.49 % | |
Massachusetts | 6.22 % | |
Wisconsin | 5.80 % | |
Ohio | 4.19 % | |
Georgia | 3.68 % | |
Hawaii | 3.67 % | |
New Hampshire | 3.43 % | |
District of Columbia | 2.57 % | |
Pennsylvania | 2.49 % | |
Oklahoma | 2.32 % | |
Arizona | 1.96 % | |
Colorado | 1.96 % | |
Louisiana | 1.39 % | |
Minnesota | 1.30 % | |
Michigan | 1.26 % | |
Alabama | 0.98 % | |
Nebraska | 0.91 % | |
Connecticut | 0.90 % | |
Utah | 0.76 % | |
Virginia | 0.76 % | |
South Carolina | 0.69 % | |
Washington | 0.68 % | |
Maryland | 0.54 % | |
Tennessee | 0.52 % | |
Indiana | 0.51 % | |
New Jersey | 0.36 % | |
Arkansas | 0.35 % | |
North Dakota | 0.35 % | |
Oregon | 0.24 % | |
South Dakota | 0.13 % | |
North Carolina | 0.05 % | |
Other | 0.18 % | |
Total Investments | 100.00 % | |
Credit Quality Breakdown | Portfolio % | |
AAA | 10.45 % | |
AA | 39.31 % | |
A | 18.07 % | |
BBB | 16.72 % | |
BB | 7.94 % | |
B | 0.53 % | |
Not Rated | 6.79 % | |
Pre-refunded Bonds | 0.02 % | |
Short Term Investments | 0.17 % | |
Total | 100.00 % | |
Bonds by Maturity | Portfolio % | |
Less than 1 Year | 0.32 % | |
1 to 5 Years | 0.13 % | |
5 to 10 Years | 2.57 % | |
10 to 20 Years | 14.32 % | |
20 to 30 Years | 64.16 % | |
More than 30 Years | 18.50 % | |
Other | 0.00 % | |
Total Net Assets | 100.00 % | |
Portfolio Statistics: | ||
AMT Percent: | 21.99 % | |
Average Coupon: | 5.90 % | |
Percentage of Leverage: | ||
Bank Borrowing: | 0.00 % | |
Investment Operations: | 0.09 % | |
Auction Preferred Shares (APS): | 0.00 % | |
Tender Option Bonds: | 23.40 % | |
VMTP Shares: | 0.00 % | |
VRDP Shares: | 17.66 % | |
Total Fund Leverage: | 41.15%* | |
Average Maturity: | 14.04 Years | |
Effective Duration: | 12.36 Years | |
Total Net Assets: | $339.07 Million** | |
Common Stock Net Asset Value: | $11.80 | |
Total Number of Holdings: | 189 | |
Portfolio Turnover: | 56.00 % | |
* The total percentage of leverage constitutes 23.40% through the use of tender option bonds, 17.66% | ||
in issued and outstanding VRDPs and 0.09% 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.