--- title: "AllianceBernstein National Municipal Income Fund, Inc. Releases Monthly Portfolio Update | AFB Stock News" type: "News" locale: "en" url: "https://longbridge.com/en/news/284263967.md" description: "AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has released its monthly portfolio update as of March 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 are $338.21 million, with an average maturity of 14.50 years and an effective duration of 12.60 years. The fund employs leverage through tender option bonds and VRDPs, totaling 40.63%." datetime: "2026-04-27T12:06:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284263967.md) - [en](https://longbridge.com/en/news/284263967.md) - [zh-HK](https://longbridge.com/zh-HK/news/284263967.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 March 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 3.68 % 2) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.09 % 3) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 1.98 % 4) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.92 % 5) Oklahoma Turnpike Authority Series 2023 4.50%, 01/01/53 1.86 % 6) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54 1.85 % 7) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/55 1.84 % 8) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 1.84 % 9) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/55 1.83 % 10) Worthington City School District Series 2025-2 5.50%, 12/01/54 1.83 % **Sector/Industry Breakdown** **Portfolio %** Revenue Airport 13.48 % Health Care - Not-for-Profit 10.98 % Revenue - Miscellaneous 7.17 % Toll Roads/Transit 5.73 % Industrial Development - Airline 5.10 % Prepay Energy 4.58 % Primary/Secondary Ed. - Public 4.00 % Higher Education - Private 3.80 % Port 2.27 % Industrial Development - Industry 1.95 % Higher Education - Public 1.75 % Senior Living 1.51 % Electric Utility 1.11 % Water & Sewer 0.80 % Tobacco Securitization 0.29 % Primary/Secondary Ed. - Private 0.17 % SUBTOTAL 64.69 % Tax Supported Local G.O. 10.22 % State G.O. 6.68 % Special Tax 4.95 % Local Lease 1.47 % Assessment District 0.36 % SUBTOTAL 23.68 % Guaranteed 9.78 % Asset-Backed Housing - Multi-Family 1.35 % SUBTOTAL 1.35 % Commercial Mortgage-Backed Securities Agency CMBS 0.36 % Non-Agency Fixed Rate CMBS 0.12 % SUBTOTAL 0.48 % Prerefunded/ETM 0.02 % Total 100.00 % **State Breakdown** **Portfolio %** Texas 13.45 % California 12.18 % New York 8.15 % Florida 7.81 % Illinois 7.73 % Massachusetts 6.16 % Wisconsin 6.10 % Georgia 4.19 % Ohio 4.11 % New Hampshire 2.83 % Pennsylvania 2.82 % District of Columbia 2.57 % Oklahoma 2.24 % Louisiana 2.09 % Arizona 1.99 % Colorado 1.93 % Michigan 1.89 % Hawaii 1.85 % Minnesota 1.27 % Alabama 0.96 % Nebraska 0.92 % Indiana 0.82 % North Carolina 0.75 % Virginia 0.74 % South Carolina 0.68 % Washington 0.67 % Tennessee 0.52 % Utah 0.44 % Maryland 0.36 % New Jersey 0.36 % Arkansas 0.35 % North Dakota 0.35 % Oregon 0.24 % Connecticut 0.20 % Alaska 0.15 % South Dakota 0.13 % Total Investments 100.00 % **Credit Quality Breakdown** **Portfolio %** AAA 10.33 % AA 40.38 % A 18.27 % BBB 18.37 % BB 7.53 % B 0.52 % Not Rated 4.58 % Pre-refunded Bonds 0.02 % Total 100.00 % **Bonds by Maturity** **Portfolio %** Less than 1 Year 0.15 % 1 to 5 Years 0.13 % 5 to 10 Years 2.76 % 10 to 20 Years 13.56 % 20 to 30 Years 63.80 % More than 30 Years 19.60 % Other 0.00 % Total Net Assets 100.00 % **Portfolio Statistics:** AMT Percent: 22.35 % Average Coupon: 5.09 % Percentage of Leverage: Bank Borrowing: 0.00 % Investment Operations: 0.00 % Auction Preferred Shares (APS): 0.00 % Tender Option Bonds: 23.16 % VMTP Shares: 0.00 % VRDP Shares: 17.47 % Total Fund Leverage: 40.63%\* Average Maturity: 14.50 Years Effective Duration: 12.60 Years Total Net Assets: $338.21 Million\*\* Common Stock Net Asset Value: $11.77 Total Number of Holdings: 181 Portfolio Turnover: 56.00 % \* The total percentage of leverage constitutes 23.16% through the use of tender option bonds, 17.47% 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. 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