AllianceBernstein Releases December 2025 Portfolio Update
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 26 2026
0mins
Should l Buy AFB?
Source: PRnewswire
- Portfolio Overview: As of December 31, 2025, AllianceBernstein's National Municipal Income Fund reported total net assets of $347.22 million across 176 holdings, indicating a diversified investment strategy.
- Top Fixed-Income Holdings: The top holding, Melissa Independent School District Series 2024-2, constitutes 3.16% of the portfolio, highlighting the stability and attractiveness of educational debt in Texas.
- Sector Distribution: The healthcare not-for-profit sector accounts for 12.77% of the portfolio, while the airport sector represents 10.26%, reflecting a focus on infrastructure and public services that may yield stable income streams.
- Credit Quality Analysis: The portfolio features a high credit quality with AAA and AA rated bonds making up 50.49%, which helps mitigate investment risks and bolster investor confidence.
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Analyst Views on AFB
Wall Street analysts forecast AFB stock price to rise
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About AFB
AllianceBernstein National Municipal Income Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide high current income exempt from regular federal income tax. The Fund is focused on investing approximately 80%, and normally substantially all, of its net assets in municipal securities paying interest that is exempt from regular federal income tax. The Fund also normally invest at least 75% of its assets in investment-grade municipal securities or unrated municipal securities. The Fund may invest up to 25% of its net assets in municipal bonds rated below investment-grade and unrated municipal bonds. The Fund also invests in securities of other open- or closed-end investment companies that invest primarily in municipal bonds of the types in which the Fund invests directly. The Fund's investment adviser is AllianceBernstein L.P.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
AllianceBernstein Fund Reports Q1 Earnings
- Net Asset Value Decline: As of January 31, 2026, the total net assets of the AllianceBernstein National Municipal Income Fund stood at $347.52 million, down from $350.81 million on October 31, 2025, indicating the impact of market fluctuations on the fund's assets.
- NAV Per Share: The net asset value per share of common stock was reported at $12.09 as of January 31, 2026, a slight decrease from $12.20 on October 31, 2025, reflecting the fund's underperformance during the quarter.
- Investment Income Growth: For the period from November 1, 2025, to January 31, 2026, the fund generated total net investment income of $4.78 million, an increase from $3.85 million in the previous quarter, indicating an improvement in income generation capabilities.
- Loss Overview: During the same period, the fund reported total net realized and unrealized losses of $3.70 million, translating to a loss of $0.13 per share, highlighting the negative impact of the market environment on the fund's investment portfolio.
See More
ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. ANNOUNCES EARNINGS FOR THE FIRST QUARTER
- First Quarter Earnings Report: Alliance Bernstein National Municipal Income Fund, Inc. has released its earnings report for the first quarter.
- Financial Performance: The report details the fund's financial performance and earnings during the specified period.
See More
AllianceBernstein National Municipal Income Reports Q1 Financials
- Investment Income Overview: AllianceBernstein National Municipal Income reported a total net investment income of $4.77 million for Q1 2026, translating to $0.17 per share of common stock, indicating a stable income source.
- Loss Situation: During the same period, the total net realized and unrealized loss amounted to $3.70 million, resulting in a loss of $0.13 per share of common stock, reflecting the impact of market volatility on fund performance.
- Net Asset Value Changes: As of January 31, 2026, the total net assets of the fund were $347.52 million, down from $350.81 million on October 31, 2025, highlighting challenges in asset management.
- Per Share Net Asset Value: On January 31, 2026, the net asset value per share of common stock was $12.09, based on 28.74 million shares outstanding, indicating stability in the fund's market value.
See More
AllianceBernstein Fund Reports Q1 Earnings
- Net Asset Value Decline: As of January 31, 2026, the total net assets of the AllianceBernstein National Municipal Income Fund were $347.52 million, down from $350.81 million on October 31, 2025, indicating the impact of market fluctuations on asset values.
- NAV Per Share: The net asset value per share of common stock stood at $12.09 as of January 31, 2026, slightly decreasing from $12.20 on October 31, 2025, reflecting the fund's stability in the current market environment.
- Investment Income Growth: For the period from November 1, 2025, to January 31, 2026, the fund reported total net investment income of $4.78 million, or $0.17 per share, which is an increase from $0.13 per share in the previous quarter, indicating a positive income growth trend.
- Loss Reporting: During the same period, the fund experienced total net realized and unrealized losses of $3.70 million, or $0.13 per share, and while facing losses, the growth in overall investment income may help alleviate investor concerns.
See More
ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND INC ANNOUNCES NAV PER SHARE OF $12.09 AS OF JANUARY 31, 2026
Fund Overview: The Alliance Bernstein National Municipal Income Fund has reported a share value of $12.09 as of January 31, 2026.
Investment Focus: The fund primarily invests in municipal securities, aiming to provide income that is exempt from federal income tax.
See More
AllianceBernstein Releases Monthly Portfolio Update
- Portfolio Overview: As of February 28, 2026, the AllianceBernstein National Municipal Income Fund reported total net assets of $353.27 million, encompassing 176 holdings, indicating a diversified approach in the fixed-income market.
- Top Holdings Analysis: The top ten fixed-income holdings include the San Francisco International Airport Series 2026-2 at 3.71%, reflecting a strategic focus on infrastructure investments and stable income sources.
- Sector Distribution: The portfolio allocates 13.53% to the airport sector and 11.11% to not-for-profit healthcare, demonstrating a balanced strategy between stable returns and socially responsible investing.
- Credit Quality Distribution: The fund's credit quality shows that AAA and AA rated bonds comprise 50.24% of the portfolio, indicating a preference for high-quality assets to mitigate investment risks and enhance long-term return potential.
See More
AllianceBernstein Fund Reports Q1 Earnings
- Net Asset Value Decline: As of January 31, 2026, the total net assets of the AllianceBernstein National Municipal Income Fund stood at $347.52 million, down from $350.81 million on October 31, 2025, indicating the impact of market fluctuations on the fund's assets.
- NAV Per Share: The net asset value per share of common stock was reported at $12.09 as of January 31, 2026, a slight decrease from $12.20 on October 31, 2025, reflecting the fund's underperformance during the quarter.
- Investment Income Growth: For the period from November 1, 2025, to January 31, 2026, the fund generated total net investment income of $4.78 million, an increase from $3.85 million in the previous quarter, indicating an improvement in income generation capabilities.
- Loss Overview: During the same period, the fund reported total net realized and unrealized losses of $3.70 million, translating to a loss of $0.13 per share, highlighting the negative impact of the market environment on the fund's investment portfolio.
See More
ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. ANNOUNCES EARNINGS FOR THE FIRST QUARTER
- First Quarter Earnings Report: Alliance Bernstein National Municipal Income Fund, Inc. has released its earnings report for the first quarter.
- Financial Performance: The report details the fund's financial performance and earnings during the specified period.
See More
AllianceBernstein National Municipal Income Reports Q1 Financials
- Investment Income Overview: AllianceBernstein National Municipal Income reported a total net investment income of $4.77 million for Q1 2026, translating to $0.17 per share of common stock, indicating a stable income source.
- Loss Situation: During the same period, the total net realized and unrealized loss amounted to $3.70 million, resulting in a loss of $0.13 per share of common stock, reflecting the impact of market volatility on fund performance.
- Net Asset Value Changes: As of January 31, 2026, the total net assets of the fund were $347.52 million, down from $350.81 million on October 31, 2025, highlighting challenges in asset management.
- Per Share Net Asset Value: On January 31, 2026, the net asset value per share of common stock was $12.09, based on 28.74 million shares outstanding, indicating stability in the fund's market value.
See More
AllianceBernstein Fund Reports Q1 Earnings
- Net Asset Value Decline: As of January 31, 2026, the total net assets of the AllianceBernstein National Municipal Income Fund were $347.52 million, down from $350.81 million on October 31, 2025, indicating the impact of market fluctuations on asset values.
- NAV Per Share: The net asset value per share of common stock stood at $12.09 as of January 31, 2026, slightly decreasing from $12.20 on October 31, 2025, reflecting the fund's stability in the current market environment.
- Investment Income Growth: For the period from November 1, 2025, to January 31, 2026, the fund reported total net investment income of $4.78 million, or $0.17 per share, which is an increase from $0.13 per share in the previous quarter, indicating a positive income growth trend.
- Loss Reporting: During the same period, the fund experienced total net realized and unrealized losses of $3.70 million, or $0.13 per share, and while facing losses, the growth in overall investment income may help alleviate investor concerns.
See More
ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND INC ANNOUNCES NAV PER SHARE OF $12.09 AS OF JANUARY 31, 2026
Fund Overview: The Alliance Bernstein National Municipal Income Fund has reported a share value of $12.09 as of January 31, 2026.
Investment Focus: The fund primarily invests in municipal securities, aiming to provide income that is exempt from federal income tax.
See More
AllianceBernstein Releases Monthly Portfolio Update
- Portfolio Overview: As of February 28, 2026, the AllianceBernstein National Municipal Income Fund reported total net assets of $353.27 million, encompassing 176 holdings, indicating a diversified approach in the fixed-income market.
- Top Holdings Analysis: The top ten fixed-income holdings include the San Francisco International Airport Series 2026-2 at 3.71%, reflecting a strategic focus on infrastructure investments and stable income sources.
- Sector Distribution: The portfolio allocates 13.53% to the airport sector and 11.11% to not-for-profit healthcare, demonstrating a balanced strategy between stable returns and socially responsible investing.
- Credit Quality Distribution: The fund's credit quality shows that AAA and AA rated bonds comprise 50.24% of the portfolio, indicating a preference for high-quality assets to mitigate investment risks and enhance long-term return potential.
See More
