AllianceBernstein National Municipal Income Fund, Inc.
US ˙ NYSE ˙ US01864U1060

SecurityAFB / AllianceBernstein National Municipal Income Fund, Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership1,290,407 shares
Ownership 4.50%
Morgan Stanley ownership in AFB / AllianceBernstein National Municipal Income Fund, Inc.

2024-02-12 - Morgan Stanley has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 1,290,407 shares of AllianceBernstein National Municipal Income Fund, Inc. (US:AFB). This represents 4.5 percent ownership of the company. In their previous filing dated 2023-02-09 , Morgan Stanley had reported owning 3,023,871 shares, indicating a decrease of -57.33 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2024-02-12 2024-02-12 13G/A 3,023,871 1,290,407 -57.33 4.50 -57.14
2023-02-09 2023-02-09 13G/A 2,827,144 3,023,871 6.96 10.50 7.14
2023-02-08 2023-02-08 13G/A 2,998,977 2,827,144 -5.73 9.80 -5.77
2022-07-11 2022-07-11 13G/A 2,640,820 2,998,977 13.56 10.40 13.04
2022-02-09 2022-02-09 13G/A 2,674,481 2,640,820 -1.26 9.20 -1.08
2021-12-10 2021-12-10 13G/A 2,674,481 9.30

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 879,497 165,319 23.15 9,402 21.66 0.0006
2026-05-27 2025-12-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 714,178 2,906 0.41 7,727 0.13 0.0005
2026-02-13 2025-12-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 714,178 2,906 7,727 0.0005
2026-05-27 2025-09-30 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 711,272 30,581 4.49 7,717 9.98 0.0005
2025-11-14 2025-09-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 711,272 30,581 7,717 0.0005
2025-08-15 2025-06-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 680,691 -254,112 -27.18 7,018 -30.87 0.0005
2025-05-15 2025-03-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 934,803 -55,544 -5.61 10,152 -5.70 0.0007
2025-05-15 2024-12-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 990,347 -126,523 -11.33 10,765 -18.32 0.0008
2025-02-14 2024-12-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 990,347 -126,523 10,765 0.0008
2025-05-14 2024-09-30 13F/A-2 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,116,870 -93,471 -7.72 13,179 -1.99 0.0010
2025-02-14 2024-09-30 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,116,870 -93,471 13,179 0.0010
2024-11-14 2024-09-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,116,870 -93,471 13,179 0.0010
2025-05-14 2024-06-30 13F/A-2 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,210,341 -74,419 -5.79 13,447 -4.77 0.0010
2024-10-17 2024-06-30 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,210,341 -74,419 13,447 0.0010
2024-08-14 2024-06-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,210,341 -74,419 13,447 0.0010
2024-10-17 2024-03-31 13F/A-2 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,284,760 -135,687 -9.55 14,120 -8.30 0.0011
2024-08-16 2024-03-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,284,760 -135,687 14,120 0.0001
2024-05-15 2024-03-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,284,760 -135,687 14,120 0.0011
2024-08-16 2023-12-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,420,447 -1,605,884 -53.06 15,398 -45.53 0.0014
2024-02-13 2023-12-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 1,420,447 -1,605,884 15,398 0.0014
2023-11-15 2023-09-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 3,026,331 -141,643 -4.47 28,266 -16.85 0.0029
2023-08-14 2023-06-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 3,167,974 -9,422 -0.30 33,992 -2.30 0.0034
2023-05-15 2023-03-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 3,177,396 176,806 5.89 34,792 10.64 0.0037
2023-02-14 2022-12-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 3,000,590 -133,630 -4.26 31,446 -3.15 0.0036
2022-11-14 2022-09-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 3,134,220 1,190 0.04 32,470 -10.43 0.0044
2022-10-27 2022-06-30 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 3,133,030 2,975,760 1,892.13 36,249 1,730.76 0.0047
2022-08-15 2022-06-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 3,133,030 2,975,760 36,249 0.0009
2022-10-27 2022-03-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 157,270 -5,613 -3.45 1,980 -17.91 0.0003
2022-05-13 2022-03-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 157,270 -5,613 1,980 0.0003
2022-02-14 2021-12-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 162,883 -21,898 -11.85 2,412 -12.64 0.0003
2021-11-15 2021-09-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 184,781 9,342 5.32 2,761 3.41 0.0004
2021-08-23 2021-06-30 13F/A-1 ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 175,439 4,902 2.87 2,670 9.97 0.0004
2021-08-16 2021-06-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 175,439 4,902 2,670 0.0001
2021-05-17 2021-03-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 170,537 -3,881 -2.23 2,428 -3.46 0.0004
2021-02-16 2020-12-31 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 174,418 7,610 4.56 2,515 8.17 0.0004
2020-11-13 2020-09-30 13F ALLIANCEBERNSTEIN NATL MUN I COM 01864U106 166,808 -16,556 -9.03 2,325 -5.02 0.0004
2020-08-14 2020-06-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 183,364 -59,153 -24.39 2,448 -20.83 0.0005
2020-05-26 2020-03-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 242,517 -11,362 -4.48 3,092 -12.88 0.0008
2020-05-15 2020-03-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 242,517 -11,362 3,092 237.5301
2020-02-14 2019-12-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 253,879 6,888 2.79 3,549 4.26 0.0008
2019-11-14 2019-09-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 246,991 751 0.30 3,404 2.78 0.0009
2019-08-14 2019-06-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 246,240 -6,475 -2.56 3,312 1.19 0.0009
2019-05-15 2019-03-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 252,715 23,341 10.18 3,273 17.65 0.0009
2019-02-14 2018-12-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 229,374 9,589 4.36 2,782 2.17 0.0008
2019-04-23 2018-09-30 13F/A-2 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 219,785 -15,435 -6.56 2,723 -8.25 0.0007
2018-11-20 2018-09-30 13F/A-1 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 219,785 0 2,723 0.0007
2018-11-14 2018-09-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 219,785 2,723
2019-04-23 2018-06-30 13F/A-1 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 235,220 -14,506 -5.81 2,968 -4.99 0.0008
2018-08-14 2018-06-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 235,220 2,968
2019-04-23 2018-03-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 249,726 71,165 39.85 3,124 30.55 0.0009
2018-05-14 2018-03-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 249,726 3,124
2019-04-23 2017-12-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 178,561 16,796 10.38 2,393 5.98 0.0007
2018-02-14 2017-12-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 178,561 2,393
2017-11-14 2017-09-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 161,765 12,162 8.13 2,258 10.25 0.0007
2017-08-11 2017-06-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 149,603 -16,999 -10.20 2,048 -8.16 0.0006
2017-05-22 2017-03-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 166,602 -32,823 -16.46 2,230 -15.40 0.0007
2017-05-12 2017-03-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 166,602 2,230
2017-02-22 2016-12-31 13F/A-1 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 199,425 36,885 22.69 2,636 10.11 0.0009
2017-02-13 2016-12-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 199,425 2,636
2016-11-10 2016-09-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 162,540 3,398 2.14 2,394 -0.29 0.0008
2016-08-12 2016-06-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 159,142 -25,399 -13.76 2,401 -9.97 0.0009
2016-05-12 2016-03-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 184,541 -2,987 -1.59 2,667 3.01 0.0010
2016-02-09 2015-12-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 187,528 20,434 12.23 2,589 16.62 0.0009
2016-02-08 2015-09-30 13F/A-1 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 167,094 24,239 16.97 2,220 17.65 0.0008
2015-11-09 2015-09-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 167,094 2,220
2015-08-12 2015-06-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 142,855 28,019 24.40 1,887 20.04 0.0007
2015-05-14 2015-03-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 114,836 -23,952 -17.26 1,572 -17.74 0.0006
2015-02-13 2014-12-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 138,788 2,435 1.79 1,911 3.35 0.0007
2014-12-16 2014-09-30 13F/A-1 ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 136,353 -5,261 -3.72 1,849 -6.19 0.0007
2014-11-14 2014-09-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 136,353 1,849
2014-08-12 2014-06-30 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 141,614 15,864 12.62 1,971 18.09 0.0034
2014-05-13 2014-03-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 125,750 -5,226 -3.99 1,669 1.71 0.0007
2014-02-13 2013-12-31 13F ALLIANCEBERNSTEIN NATL MUNI COM 01864U106 130,976 -46,033 -26.01 1,641 -28.25 0.0007
2013-11-13 2013-09-30 13F ALLIANCE NATL MUN INCOME FD COM 01864U106 177,009 10,289 6.17 2,287 1.92 0.0011
2013-08-08 2013-06-30 13F ALLIANCE NATL MUN INCOME FD COM 01864U106 166,720 166,720 2,244 0.0011
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.