AllianceBernstein National Municipal Income Fund, Inc. reports developments as a registered closed-end municipal income fund managed by AllianceBernstein L.P. The fund seeks high current income exempt from regular federal income tax by investing primarily in municipal securities that pay federally tax-exempt interest.
Recurring news for AFB centers on quarterly fund earnings, net investment income, realized and unrealized gains or losses, total net assets, net asset value per share and common shares outstanding. Company updates also cover fund leverage and capital-structure actions, including the completed redemption of 2018 Variable Rate MuniFund Term Preferred Shares and the use of tender option bond trusts as substitute leverage.
AllianceBernstein National Municipal Income Fund (AFB) reported third-quarter net investment income of $4,709,442 for the period ended July 31, 2026.
Income was $0.16 per common share, versus $4,314,451, or $0.15 per share, in the quarter ended April 30, 2026, and $4,015,722, or $0.14 per share, in the quarter ended July 31, 2025. The fund reported a net realized and unrealized loss of $6,629,441, or $0.23 per share, compared with losses of $2,181,270, or $0.08 per share, in the preceding quarter and $15,775,819, or $0.55 per share, a year earlier.
Total net assets were $339,074,327 at July 31, 2026, versus $345,321,589 at April 30, 2026, and $322,750,581 at July 31, 2025. Net asset value per common share was $11.80, versus $12.01 and $11.23 on those respective dates.
AllianceBernstein National Municipal Income Fund (AFB) released a detailed portfolio update as of August 31, 2026, covering holdings, sector, state, credit quality and structural metrics.
The top fixed-income holding is San Francisco Intl Airport Series 2026-2 at 3.76% of the portfolio, with airport revenue bonds overall at 15.71%. Tax-supported bonds represent 22.80%. Largest state exposures are California 12.21% and Texas 11.03%. Credit quality is concentrated in AA (40.29%), A (17.92%) and BBB (16.90%). Bonds maturing in 20–30 years account for 63.81% of assets.
The Fund reports AMT exposure of 22.73%, an average coupon of 5.84%, and total leverage of 46.81% (24.58% tender option bonds, 18.00% VRDPs, 4.23% investment operations). Total net assets are $333.69 million, common share NAV is $11.61, with 190 holdings and portfolio turnover of 56.00%.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) released its monthly portfolio update as of July 31, 2026. The Fund reported total net assets of $339.07 million, a common stock net asset value of $11.80 and 189 holdings.
The portfolio is primarily invested in long-dated municipal bonds, with 64.16% maturing in 20–30 years and an average maturity of 14.04 years. Effective duration is 12.36 years, and the average coupon is 5.90%. Total fund leverage stands at 41.15%, mainly via 23.40% tender option bonds and 17.66% VRDP shares.
Top sector exposures include Airport revenue (14.72%) and Health Care – Not-for-Profit (10.30%). Largest state allocations are Texas (12.57%) and California (12.04%). Investment-grade bonds dominate, with AA (39.31%) and A (18.07%) ratings. AMT exposure is 21.99%.
AllianceBernstein Global High Income Fund (NYSE: AWF) and AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported that stockholders approved new investment advisory agreements with AllianceBernstein L.P. at a joint special meeting of stockholders held on August 3, 2026. Each Fund is a registered closed-end management investment company managed by the Adviser.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) released a monthly portfolio update as of June 30, 2026, detailing sector, geographic, credit and maturity allocations, leverage and key statistics for its closed-end municipal bond portfolio.
The Fund reported total net assets of $352.92 million, a common stock NAV of $12.28, and 185 holdings. Top 10 fixed-income positions are led by San Francisco International Airport Series 2026-2 (3.70% of the portfolio) and several education and airport-related issues. Sector exposure is concentrated in revenue-backed bonds, notably airport revenue (14.61%) and health care not-for-profit (10.97%), with total revenue sectors at 65.30% and tax-supported sectors at 22.25%.
State allocations are largest in Texas (12.61%), California (12.01%), Florida (8.40%) and New York (8.36%). Credit quality is primarily investment grade, with AA at 39.56%, A at 17.79%, AAA at 10.50%, and BBB at 16.70%, alongside 8.01% in BB, 0.52% in B, and 6.73% not rated. The portfolio is long-dated, with 63.85% of bonds maturing in 20–30 years and 18.54% beyond 30 years, producing an average maturity of 11.29 years and an effective duration of 10.59 years. The average coupon is 6.15%, and AMT exposure is 22.77%. Total fund leverage is 40.33%, comprised mainly of 22.81% tender option bonds and 17.21% VRDP shares, plus 0.31% from investment operations. Portfolio turnover stands at 56.00%.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported second quarter 2026 results for the period ended April 30, 2026.
Total net assets were $345.3 million versus $347.5 million on January 31, 2026 and $337.9 million a year earlier, with NAV per share at $12.01.
Net investment income was $4.31 million, or $0.15 per share. The fund recorded a total net realized and unrealized loss of $2.18 million, or $0.08 per share, for the quarter.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) released its monthly portfolio update as of May 31, 2026. Total net assets were $347.05 million across 182 holdings, with a common stock NAV of $12.07.
The portfolio showed 42.65% total leverage, an average coupon of 5.97%, effective duration of 10.97 years, and average maturity of 12.04 years. Airport revenue bonds, AA-rated credits, Texas and California were among the largest sector, rating, and state exposures.
AllianceBernstein National Municipal Income Fund (NYSE:AFB) released its monthly portfolio update as of April 30, 2026. Total net assets were $345.32 million, with common stock NAV of $12.01 and 180 holdings.
The portfolio used 40.74% total leverage, primarily via tender option bonds (23.22%) and VRDP shares (17.52%). Average coupon was 4.77%, average maturity 12.94 years, and effective duration 11.59 years. Portfolio turnover was 56%, AMT exposure 21.54%.
Largest sector allocations were airport revenue (13.65%) and health care not-for-profit (11.04%). Top state exposures were Texas (13.63%), California (12.22%), and New York (8.31%). The largest rating buckets were AA (41.44%), A (17.46%), and BBB (17.26%).
AllianceBernstein National Municipal Income Fund (NYSE:AFB) and AllianceBernstein Global High Income Fund (NYSE:AWF) announced Board approval of new and interim investment advisory agreements with AllianceBernstein L.P., on identical terms to current agreements.
The change is tied to the planned Equitable–Corebridge merger and requires future stockholder approval under the 1940 Act.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) released its monthly portfolio update as of March 31, 2026. Key portfolio metrics include Total Net Assets $338.21 million, NAV $11.77, Total Fund Leverage 40.63% and Effective Duration 12.60 years.
Top sector weight is Airport 13.48%, AMT exposure is 22.35%, average coupon is 5.09%, and the largest holding is San Francisco Intl Airport Series 2026-2 at 3.68%.