Welcome to our dedicated page for AllianceBernstein National Municipal Income Fund SEC filings (Ticker: AFB), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page is dedicated to regulatory information for Alliance National Municipal Income Fund, Inc. (NYSE: AFB), also known as AllianceBernstein National Municipal Income Fund, Inc., a registered closed‑end investment company managed by AllianceBernstein L.P. While no specific SEC filings are listed in the available data, the fund’s public communications and status as a registered closed‑end investment company indicate that it files reports and other documents with the U.S. Securities and Exchange Commission.
According to the Polygon description, the fund seeks to provide high current income exempt from regular federal income tax by investing substantially all of its net assets in municipal securities that pay interest exempt from federal income tax. In the context of SEC reporting, this type of fund typically discloses information about its portfolio of municipal securities, the composition of its assets, and the income it generates from tax‑exempt interest, along with details on expenses and leverage.
Press releases for AFB provide a preview of the kind of information that is often expanded upon in formal filings. These releases report total net assets, net asset value per share of common stock, total net investment income, and total net realized and unrealized gains or losses for each fiscal quarter. They also clarify that total net assets include assets attributable to both common and preferred shares and describe actions such as the redemption of 2018 Variable Rate MuniFund Term Preferred Shares and the creation of tender option bond ("TOB") trusts as substitute leverage.
On Stock Titan’s filings page, users can access AFB’s SEC documents as they become available and use AI‑powered tools to summarize lengthy reports. These tools can help explain key sections of annual and periodic filings, highlight discussions of municipal securities and tax‑exempt income, and make it easier to interpret disclosures about leverage mechanisms such as preferred shares and TOB trusts.
Saba Capital Management, L.P. and affiliates have filed Amendment No. 5 to a Schedule 13D for AllianceBernstein National Municipal Income Fund, Inc. (AFB), reporting beneficial ownership of 2,674,609 common shares. This represents 9.3% of the fund’s common shares, based on 28,744,936 shares outstanding as of 10/31/25, as disclosed in the fund’s N-CSR filed 1/2/26.
The reporting group consists of Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein, each showing shared voting and dispositive power over 2,674,609 shares and no sole power. They state that about $27,764,082 was paid to acquire these shares, using investor subscription proceeds, related capital appreciation, and ordinary-course margin borrowings. The amendment updates Items 3, 5, and 7, and notes that funds and accounts advised by Saba Capital are entitled to dividends and sale proceeds from these shares.
AllianceBernstein National Municipal Income Fund, Inc. (AFB) reports modest results for the year ended October 31, 2025. On a net asset value (NAV) basis, the Fund returned 1.58% over 12 months and 6.34% over six months, compared with the Bloomberg Municipal Bond Index at 4.17% and 4.99%, respectively. The market price was $10.99 and NAV was $12.20 per share at period-end.
Management attributes 12‑month underperformance mainly to sector allocation and security selection, while leverage helped over six months but slightly detracted over the year. The Fund focuses on federally tax‑exempt municipal bonds, normally keeping at least 75% of assets in investment‑grade issues and up to 25% in below‑investment‑grade bonds. As of October 31, 2025, insured municipal holdings were 11.6% of investments.
Net investment income was $14.8 million, offset by realized and unrealized losses to produce a $3.4 million net increase in net assets from operations. The Fund paid $14.1 million in distributions, largely tax‑exempt, and ended the period with $350.8 million in net assets and significant leverage through variable rate preferred shares and tender option bond structures, which can amplify both income and volatility.
AllianceBernstein National Municipal Income Fund (AFB): Saba Capital Management reported a Form 4 sale of 19,623 common shares on 11/06/2025 at $10.91 per share. Following the transaction, the reporting person beneficially owns 2,869,239 shares, held indirectly.
The remarks state that, as a result of this disposition, the reporting person now owns less than 10% of AFB’s common shares.
AllianceBernstein National Municipal Income Fund (AFB) reported insider activity on a Form 4. The reporting holder executed two open-market sales: 30,873 shares at $11.01 on 11/04/2025 and 22,247 shares at $10.99 on 11/05/2025. Following these transactions, the holder reported 2,888,862 shares beneficially owned on an indirect basis.
AllianceBernstein National Municipal Income Fund (AFB) reported an insider transaction on a Form 4. The reporting person disclosed a sale of 684 common shares at $11.01 on 11/03/2025. Following the transaction, the filing shows 2,941,982 shares beneficially owned on an indirect basis. The filing was made by one reporting person.
AllianceBernstein National Municipal Income Fund (AFB) director reported open‑market purchases. On 10/31/2025, the insider bought 9,000 shares at $11.08 and 4,500 shares at $11.0638 (Transaction Code: P). Following these trades, the insider directly owned 13,500 shares.
AllianceBernstein National Municipal Income Fund (AFB) reported an insider transaction. A filing indicates a sale of 7,693 shares of common stock on 10/29/2025 at a price of $11 per share, coded as S (sale). Following the transaction, the filer reported 2,942,666 shares beneficially owned on an indirect basis. The report is signed on behalf of Saba Capital Management, L.P. by Zachary Gindes, and separately by Boaz Weinstein.
Wells Fargo & Company and Wells Fargo Municipal Capital Strategies, LLC filed Amendment No. 1 to Schedule 13D for AllianceBernstein National Municipal Income Fund, Inc. (AFB), reporting that the issuer redeemed 3,531 Variable Rate MuniFund Term Preferred Shares (CUSIP 01864U502) on October 27, 2025.
Following the redemption, the reporting persons disclose 0.00 shares beneficially owned and 0% of the class. Reported powers are 0.00 for sole/shared voting and sole/shared dispositive power. They state they have ceased to be beneficial owners of more than five percent of the class and that all voting and financing arrangements relating to the preferred shares have been terminated.
Wells Fargo & Company and its subsidiary Wells Fargo Municipal Capital Strategies, LLC reported a disposition of 3,531 AllianceBernstein National Municipal Income Fund (AFB) 2018 Variable Rate MuniFund Term Preferred Shares on 10/27/2025. The shares were redeemed by the issuer at $25,068.69428 per share, which reflects a $25,000.00 liquidation preference plus $68.69428 in accrued dividends per share.
Following the redemption, the reporting persons show 0 preferred shares beneficially owned, previously held indirectly through a subsidiary. The transaction was coded J and filed jointly by the parent and subsidiary, indicating an indirect ownership change due to the issuer’s redemption.
Saba Capital Management, L.P. filed a Form 4 for AllianceBernstein National Municipal Income Fund (AFB), reporting a sale of 25,686 shares at $10.99 on October 27, 2025.
After the transaction, the reporting person shows 2,950,359 shares beneficially owned on an indirect basis. The filing reflects a routine ownership update and does not describe additional terms or derivative activity.