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.
AllianceBernstein National Municipal Income Fund, Inc. filings document governance and shareholder-voting matters for a closed-end municipal income fund. The fund's proxy materials cover annual meeting procedures, proposals submitted to stockholders and governance disclosures for the Maryland corporation. Regulatory records for AFB also provide formal context for fund oversight, capital structure and the disclosure framework associated with a listed closed-end investment company.
Saba Capital Management and related entities report beneficial ownership of 1,591,447 common shares of AllianceBernstein National Municipal Income Fund, Inc., representing 5.54% of the fund’s outstanding common stock based on 28,744,936 shares as of 10/31/25.
The filing shows Saba Capital, its general partner Saba Capital Management GP, LLC, and Boaz R. Weinstein each with shared voting and dispositive power over the same 1,591,447 shares, and no sole power. Approximately $16,520,196 was paid to acquire these shares using investor subscription proceeds, capital appreciation, and ordinary-course margin borrowings. This Amendment No. 8 updates the disclosure on funding, ownership levels, and related exhibit information, while stating no specific change in transaction purpose.
Saba Capital Management and related parties have updated their ownership disclosure for AllianceBernstein National Municipal Income Fund, Inc. In Amendment No. 7 to a Schedule 13D, Saba Capital, Saba Capital Management GP, LLC, and Boaz R. Weinstein report beneficial ownership of 1,898,909 common shares.
This stake represents 6.61% of the fund’s 28,744,936 common shares outstanding as of 10/31/25, based on the issuer’s N-CSR. The filing states that approximately $19,711,840 was paid to acquire these shares, funded by investor subscriptions, capital appreciation, and ordinary-course margin borrowings. Item 4 lists no specific purpose for the transaction.
Saba Capital Management and related parties report a significant stake in AllianceBernstein National Municipal Income Fund, Inc. They disclose beneficial ownership of 2,277,251 common shares, representing 7.92% of the fund’s outstanding stock, based on 28,744,936 shares outstanding as of 10/31/25.
The filing, Amendment No. 6 to Schedule 13D, is a joint report by Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein. The shares were acquired for a total of approximately $23,639,262, funded through investor subscriptions, capital appreciation, and ordinary-course margin borrowings.
The reporting persons state that the funds and accounts advised by Saba Capital are entitled to dividends and sale proceeds from these shares. They indicate no criminal or relevant civil securities law proceedings in the past five years and note that this amendment updates Items 3, 5, and 7 of the prior filing.
AFB filed its Form N-CEN annual census report as a registered investment company. The filing is a structured questionnaire covering the fund’s governance, service providers, trading practices, and capital structure rather than a performance report.
The report lists directors, the chief compliance officer, investment advisers, transfer agents, pricing services, custodians, shareholder servicing agents, administrators, and affiliated broker-dealers. Affiliated broker-dealers are shown with total commissions of 0.00000000 for the period, indicating no commissions paid to those affiliates.
AFB also reports principal transactions with multiple dealers, with total values of purchases and sales (excluding maturing securities) by dealer, including amounts such as 306,726,248.45000000 and 224,409,034.24000000. The form further covers items like securities lending authorization, expense limitation arrangements, reliance on specific Investment Company Act rules, long-term debt defaults, dividends in arrears, market price and net asset value per share, and required signatures.
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.