AllianceBernstein National Municipal Income Fund, Inc. Releases Monthly Portfolio Update | AFB Stock News

, /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of December 31, 2025.AllianceBernstein National Municipal Income Fund, Inc.Top 10 Fixed-Income HoldingsPortfolio %1) Melissa Independent School District Series 2024-2 4.25%, 02/01/532.16 %2) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/542.00 %3) Oklahoma Turnpike Authority Series 2023 4.50%, 01/01/531.97 %4) Dallas Independent School District Series 2024-2 4.00%, 02/15/541.93 %5) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/541.92 %6) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/541.86 %7) Worthington City School District Series 2025-2 5.50%, 12/01/541.86 %8) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/551.85 %9) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/551.85 %10) County of Miami-Dade FL Aviation Revenue Series 2025-2 5.50%, 10/01/551.83 %Sector/Industry BreakdownPortfolio %RevenueHealth Care - Not-for-Profit12.77 %Airport10.26 %Revenue - Miscellaneous7.18 %Toll Roads/Transit5.51 %Industrial Development - Airline5.14 %Prepay Energy4.74 %Higher Education - Private3.83 %Primary/Secondary Ed. - Public3.57 %Port2.61 %Industrial Development - Industry2.05 %Higher Education - Public1.77 %Electric Utility1.47 %Senior Living1.35 %Water & Sewer0.80 %Tobacco Securitization0.30 %Primary/Secondary Ed. - Private0.17 %SUBTOTAL63.52 %Tax SupportedLocal G.O.10.73 %State G.O.6.41 %Special Tax3.70 %Local Lease1.49 %Assessment District0.36 %SUBTOTAL22.69 %Guaranteed11.85 %Asset-BackedHousing - Multi-Family0.86 %SUBTOTAL0.86 %Commercial Mortgage-Backed SecuritiesNon-Agency Fixed Rate CMBS0.49 %Non-Agency Floating Rate CMBS0.35 %SUBTOTAL0.84 %Cash & Cash EquivalentsFunds and Investment Trusts0.22 %SUBTOTAL0.22 %Prerefunded/ETM0.02 %Total100.00 %State BreakdownPortfolio %Texas14.47 %California8.86 %New York7.95 %Florida7.89 %Illinois7.85 %Massachusetts5.84 %Wisconsin5.48 %Georgia4.58 %Ohio4.18 %Pennsylvania3.00 %District of Columbia2.58 %New Hampshire2.53 %South Carolina2.38 %Oklahoma2.36 %Louisiana2.30 %Colorado2.08 %Arizona2.05 %Michigan1.91 %Hawaii1.86 %Minnesota1.31 %Alabama0.97 %Nebraska0.95 %Indiana0.85 %North Carolina0.76 %Virginia0.76 %Washington0.69 %Tennessee0.52 %Alaska0.49 %Maryland0.37 %New Jersey0.36 %North Dakota0.36 %Arkansas0.35 %Oregon0.24 %Connecticut0.20 %Utah0.18 %South Dakota0.14 %Other0.35 %Total Investments100.00 %Credit Quality BreakdownPortfolio %AAA12.41 %AA38.08 %A19.97 %BBB17.87 %BB6.60 %B0.53 %Not Rated4.30 %Pre-refunded Bonds0.02 %Short Term Investments0.22 %Total100.00 %Bonds by MaturityPortfolio %Less than 1 Year0.37 %1 to 5 Years0.13 %5 to 10 Years2.61 %10 to 20 Years14.00 %20 to 30 Years64.21 %More than 30 Years18.68 %Other0.00 %Total Net Assets100.00 %Portfolio Statistics:AMT Percent:19.78 %Average Coupon:4.88 %Percentage of Leverage:Bank Borrowing:0.00 %Investment Operations:0.00 %Auction Preferred Shares (APS):0.00 %Tender Option Bonds:23.13 %VMTP Shares:0.00 %VRDP Shares:17.45 %Total Fund Leverage:40.58%*Average Maturity: 13.64 YearsEffective Duration: 11.82 YearsTotal Net Assets:$347.22 Million**Common Stock Net Asset Value:$12.08Total Number of Holdings:176Portfolio Turnover:56.00 %* The total percentage of leverage constitutes 23.13% through the use of tender option bonds, 17.45% in issued and outstanding VRDPs and 0.00% in investment operations, which may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.** The Fund also had outstanding $100,000,000 of VRDPs at liquidation value, which is not includedin Total Net Assets because it is treated as a liability for financial reporting purposes.The foregoing portfolio characteristics are as of the date indicated and can be expected to change. TheFund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.SOURCE AllianceBernstein National Municipal Income Fund, Inc.