AFB preferred redemption leaves Wells Fargo at 0% ownership

Rhea-AI Filing Summary

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.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC.

(Name of Issuer)

VARIABLE RATE MUNIFUND TERM PREFERRED SHARES

(Title of Class of Securities)

01864U502

(CUSIP Number)

Vera Gurova, Senior Counsel,
Wells Fargo & Company, 401 South Tryon Street
Charlotte, NC, 28202
(704) 339-2335

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/27/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 01864U502

1

Name of reporting person

Wells Fargo & Company

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13D

CUSIP No. 01864U502

1

Name of reporting person

Wells Fargo Municipal Capital Strategies, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: VARIABLE RATE MUNIFUND TERM PREFERRED SHARES
(b)	Name of Issuer: ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC.
(c)	Address of Issuer's Principal Executive Offices: 66 Hudson Boulevard East, 26th Floor, New York, NEW YORK , 10001.
Item 1 Comment: This Amendment No. 1 (this "Amendment") amends, as set forth below, the statement on Schedule 13D, dated September 25, 2023 and filed with the SEC on September 25, 2023 (the "Original Schedule 13D"), for Wells Fargo & Company ("Wells Fargo") and Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies") (collectively, the "Reporting Persons") with respect to certain Variable Rate MuniFund Term Preferred Shares ("Preferred Shares") of AllianceBernstein National Municipal Income Fund, Inc. (the "Issuer"). This Amendment is being filed in relation to the redemption by the Issuer on October 27, 2025 of 3,531 Preferred Shares (CUSIP No. 01864U502) of the Issuer held by Capital Strategies.
Item 2.	Identity and Background
(a)	This information is not changed by this Amendment.
(b)	This information is not changed by this Amendment.
(c)	Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment and attached as an Exhibit hereto.
(d)	Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment and attached as an Exhibit hereto.
(e)	Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment and attached as an Exhibit hereto.
(f)	Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment and attached as an Exhibit hereto.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Original Schedule 13D is hereby amended by adding the following paragraph at the end thereof: "The Preferred Shares held by Capital Strategies were redeemed by the Issuer on October 27, 2025 (the "Redemption") and as a result of the Redemption, the Reporting Persons no longer own any Preferred Shares of the Issuer."
Item 4.	Purpose of Transaction
	Item 4 of the Original Schedule 13D is hereby amended by adding the following paragraph at the end thereof: "As a result of the Redemption, the Reporting Persons no longer own any Preferred Shares of the Issuer."
Item 5.	Interest in Securities of the Issuer
(a)	This information is not changed by this Amendment.
(b)	This information is not changed by this Amendment.
(c)	This information is not changed by this Amendment.
(d)	Item 5(d) of the Original Schedule 13D is hereby amended by deleting paragraph (d) therein and replacing it in its entirety with the following: "(d) Not applicable."
(e)	Item 5(e) of the Original Schedule 13D is hereby amended by deleting paragraph (e) therein and replacing it in its entirety with the following: "(e) On October 27, 2025, as a result of the Redemption, the Reporting Persons ceased to be the beneficial owner of more than five percent of the class of securities."
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Original Schedule 13D is hereby deleted and replaced in its entirety with the following: "The responses of the Reporting Persons under Item 3 and Item 4 hereof are incorporated herein by reference. All voting arrangements and financing arrangements relating to the Preferred Shares have been terminated as a result of the redemption of the Preferred Shares."
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Original Schedule 13D is hereby amended by deleting Exhibit 99.1 and Exhibit 99.2 thereto and inserting the following exhibits in their place: "Exhibit Description of Exhibit 99.1 Joint Filing Agreement 99.2 Limited Power of Attorney" Item 7 of the Original Schedule 13D is hereby further amended by adding the following Exhibit to the listings of exhibits to be attached to this Schedule 13D: "Exhibit Description of Exhibit 99.6 Amended and Restated Schedule I and Schedule II"

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Wells Fargo & Company

Signature:	/s/ Patricia Arce
Name/Title:	Patricia Arce, Designated Signer
Date:	10/29/2025

Wells Fargo Municipal Capital Strategies, LLC

Signature:	/s/ Daniel Frizsell
Name/Title:	Daniel Frizsell, Vice President
Date:	10/29/2025

Comments accompanying signature:

Please note that Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with the amended and restated Schedule I and Schedule II attached to this Amendment.

FAQ

What did Wells Fargo disclose in this Schedule 13D/A for AFB?

They reported the issuer redeemed 3,531 Variable Rate MuniFund Term Preferred Shares on October 27, 2025, and they now hold 0.00 shares (0% of the class).

Which AFB securities are referenced in the filing?

The filing concerns Variable Rate MuniFund Term Preferred Shares with CUSIP 01864U502.

What is Wells Fargo’s current beneficial ownership in AFB’s preferred shares?

0.00 shares, representing 0% of the class after the redemption.

When did the AFB preferred share redemption occur?

The issuer redeemed the shares on October 27, 2025.

Did Wells Fargo indicate any remaining voting or dispositive power over AFB preferred shares?

No. They report 0.00 sole/shared voting power and 0.00 sole/shared dispositive power.

What arrangements related to the AFB preferred shares were affected?

All voting and financing arrangements relating to the preferred shares were terminated due to the redemption.

Did Wells Fargo note a change in 5% beneficial ownership status?

Yes. They state they ceased to be beneficial owners of more than five percent of the class on October 27, 2025.