--- title: "AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE | AFB Stock News" type: "News" locale: "en" url: "https://longbridge.com/en/news/276643972.md" description: "AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has released its monthly portfolio update as of January 31, 2026. The top holdings include San Francisco Intl Airport Series 2026-2 and Melissa Independent School District Series 2024-2. The portfolio is diversified across various sectors, with significant investments in airports and healthcare. The fund's total net assets amount to $347.52 million, with an average maturity of 13.57 years and an effective duration of 11.91 years. The fund employs a leverage strategy with a total fund leverage of 42.51%." datetime: "2026-02-23T13:06:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276643972.md) - [en](https://longbridge.com/en/news/276643972.md) - [zh-HK](https://longbridge.com/zh-HK/news/276643972.md) --- # 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 January 31, 2026. AllianceBernstein National Municipal Income Fund, Inc. **Top 10 Fixed-Income Holdings** **Portfolio %** 1) San Francisco Intl Airport Series 2026-2 5.50%, 05/01/55 3.69 % 2) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.13 % 3) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 1.99 % 4) Oklahoma Turnpike Authority Series 2023 4.50%, 01/01/53 1.98 % 5) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.97 % 6) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 1.90 % 7) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/55 1.86 % 8) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54 1.85 % 9) Worthington City School District Series 2025-2 5.50%, 12/01/54 1.85 % 10) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/55 1.83 % **Sector/Industry Breakdown** **Portfolio %** Revenue Airport 13.96 % Health Care - Not-for-Profit 10.90 % Revenue - Miscellaneous 6.95 % Toll Roads/Transit 5.88 % Industrial Development - Airline 5.18 % Prepay Energy 4.78 % Higher Education - Private 3.81 % Primary/Secondary Ed. - Public 3.56 % Port 2.62 % Industrial Development - Industry 2.04 % Higher Education - Public 1.77 % Electric Utility 1.46 % Senior Living 1.35 % Water & Sewer 0.80 % Tobacco Securitization 0.30 % Primary/Secondary Ed. - Private 0.17 % SUBTOTAL 65.53 % Tax Supported Local G.O. 10.56 % State G.O. 6.38 % Special Tax 3.67 % Local Lease 1.48 % Assessment District 0.36 % SUBTOTAL 22.45 % Guaranteed 9.95 % Asset-Backed Housing - Multi-Family 1.03 % SUBTOTAL 1.03 % Commercial Mortgage-Backed Securities Non-Agency Fixed Rate CMBS 0.49 % Non-Agency Floating Rate CMBS 0.35 % SUBTOTAL 0.84 % Cash & Cash Equivalents Funds and Investment Trusts 0.18 % SUBTOTAL 0.18 % Prerefunded/ETM 0.02 % Total 100.00 % **State Breakdown** **Portfolio %** Texas 12.56 % California 12.42 % New York 7.96 % Florida 7.90 % Illinois 7.87 % Massachusetts 5.81 % Wisconsin 5.80 % Georgia 4.56 % Ohio 4.16 % Pennsylvania 3.00 % District of Columbia 2.59 % New Hampshire 2.48 % Oklahoma 2.37 % Louisiana 2.29 % Arizona 2.07 % Colorado 1.95 % Michigan 1.91 % Hawaii 1.85 % Minnesota 1.30 % Alabama 0.97 % Nebraska 0.95 % Indiana 0.84 % North Carolina 0.76 % Virginia 0.76 % South Carolina 0.69 % Washington 0.69 % Tennessee 0.52 % Alaska 0.48 % Maryland 0.37 % New Jersey 0.36 % Arkansas 0.35 % North Dakota 0.35 % Oregon 0.24 % Connecticut 0.20 % Utah 0.18 % South Dakota 0.13 % Other 0.31 % Total Investments 100.00 % **Credit Quality Breakdown** **Portfolio %** AAA 10.51 % AA 39.85 % A 19.82 % BBB 18.16 % BB 6.66 % B 0.54 % Not Rated 4.26 % Pre-refunded Bonds 0.02 % Short Term Investments 0.18 % Total 100.00 % **Bonds by Maturity** **Portfolio %** Less than 1 Year 0.32 % 1 to 5 Years 0.13 % 5 to 10 Years 2.57 % 10 to 20 Years 13.93 % 20 to 30 Years 64.11 % More than 30 Years 18.94 % Other 0.00 % Total Net Assets 100.00 % **Portfolio Statistics:** AMT Percent: 22.49 % Average Coupon: 5.02 % Percentage of Leverage: Bank Borrowing: 0.00 % Investment Operations: 0.00 % Auction Preferred Shares (APS): 0.00 % Tender Option Bonds: 25.69 % VMTP Shares: 0.00 % VRDP Shares: 16.82 % Total Fund Leverage: 42.51%\* Average Maturity: 13.57 Years Effective Duration: 11.91 Years Total Net Assets: $347.52 Million\*\* Common Stock Net Asset Value: $12.09 Total Number of Holdings: 175 Portfolio Turnover: 56.00 % \* The total percentage of leverage constitutes 25.69% through the use of tender option bonds, 16.82% 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 included in 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. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P. SOURCE AllianceBernstein National Municipal Income Fund, Inc. ### Related Stocks - [VFL.US](https://longbridge.com/en/quote/VFL.US.md) - [AFB.US](https://longbridge.com/en/quote/AFB.US.md) - [AB.US](https://longbridge.com/en/quote/AB.US.md) - [NBB.US](https://longbridge.com/en/quote/NBB.US.md) ## Related News & Research - [AllianceBernstein, Brookfield, and Carlyle Unveil Turnkey Private-Markets Solution for Defined Contribution Plans | AB Stock News](https://longbridge.com/en/news/287056582.md) - [AllianceBernstein Holding L.P. 1Q 2026: Net income $85.2M, EPS $0.92— 10-Q Summary](https://longbridge.com/en/news/284937601.md) - [UN General Assembly Backs Historic World Court Climate Crisis Ruling](https://longbridge.com/en/news/287225306.md) - [Medline expands animal health portfolio with spay/neuter surgical packs | MDLN Stock News](https://longbridge.com/en/news/287111279.md) - [Endologix Acquires Pounce™ Thrombectomy System, Expanding Its Vascular Intervention Portfolio](https://longbridge.com/en/news/286928967.md)