abrdn National Municipal Income Fund (VFL) VP files Form 3 showing no holdings

Rhea-AI Filing Summary

abrdn National Municipal Income Fund filed an initial insider ownership report for a company officer. The filing identifies the reporting person as a Vice President of the fund and confirms this is a Form filed by one reporting person. In the remarks, the report clearly states that no securities are beneficially owned by this officer, meaning they do not currently hold fund shares or related derivative securities that must be reported under these rules.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Reilly Heather Carter

(Last) (First) (Middle)

C/O ABRDN

1900 MARKET STREET, SUITE 200

(Street)

PHILADELPHIA PA 19103

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/09/2025

3. Issuer Name and Ticker or Trading Symbol
abrdn National Municipal Income Fund [ VFL ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

No securities are beneficially owned.

	/s/ Robert Stieger by POA from Reporting Person	12/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does this Form 3 filing for abrdn National Municipal Income Fund (VFL) report?

It reports the initial insider ownership status of a Vice President of abrdn National Municipal Income Fund and confirms they currently do not beneficially own any securities of the fund.

Who is the reporting person in the VFL insider filing and what is their role?

The reporting person is an officer of abrdn National Municipal Income Fund, serving as a Vice President, and is therefore required to report their beneficial ownership under Section 16 rules.

Does the reporting Vice President own any VFL shares or derivative securities?

According to the remarks section, no securities are beneficially owned, so the Vice President reports no ownership of VFL shares or derivative securities.

Is this VFL Form 3 filed by one person or a group?

The filing is marked as Form filed by One Reporting Person, meaning it relates to a single insider rather than a group filing.

What additional document is referenced in this VFL insider report?

The filing references an Exhibit 24 - Power of Attorney, which authorizes the signatory to sign the form on behalf of the reporting person.

Why are the securities tables in the VFL Form 3 empty?

Table I and Table II contain no entries because the remarks explicitly state that no securities are beneficially owned by the reporting officer at this time.