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AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE

AFB
  • AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) released its monthly portfolio update as of November 30, 2025.
  • The top ten fixed-income holdings include issuers such as the Melissa Independent School District, Commonwealth of Massachusetts, Oklahoma Turnpike Authority, New York Transportation Development Corp., \& various school districts \& airport authorities.
  • The largest sector exposure is Health Care - Not-for-Profit at 13.42%, followed by Airport at 10.28% \& Revenue - Miscellaneous at 7.20%.
  • Texas represents the largest state allocation at 14.45%, followed by California at 8.95% \& Florida at 8.58%.
  • Credit quality is predominantly AA (38.51%) \& A (19.95%), with AAA holdings at 12.40% \& BBB at 16.55%.
  • The portfolio is heavily weighted toward long-term bonds, with 65.74% maturing between 20 to 30 years \& 18.48% maturing in more than 30 years.
  • Total net assets were $349.99 million, with a common stock net asset value of $12.18.
  • Total fund leverage stood at 40.43%, comprised of 23.05% in tender option bonds \& 17.38% in VRDP shares.
  • Portfolio statistics include an average coupon of 4.96%, an average maturity of 13.26 years, \& an effective duration of 11.57 years.
  • The fund holds 173 total securities with a portfolio turnover rate of 32.00% \& an AMT percent of 17.93%.