ALNCX — AB National Portfolio, Class C
Data updated: 2026-09-25
ALNCX — AB National Portfolio, Class C. 1.50% expense ratio · 1.00% deferred sales charge · since 1993. Holdings, fees, performance and SEC filings.
ALNCX Fund Overview
ALNCX — AB National Portfolio, Class C is a US mutual fund managed by Ab Municipal Income Fund, Inc., categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ab Municipal Income Fund, Inc.
- Category: Long Municipal - National Bond
- Assets under management: $1.98B
- 1-year return: 5.9%
- Ticker: ALNCX
- SEC CIK: 0000798737
- SEC series ID: S000010351
- Share class ID: C000028630
ALNCX Investment Objective and Strategy
AB National Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ab Municipal Income Fund, Inc..
Investment objective
The investment objective of the Portfolio is to earn the highest level of current income, exempt from federal income tax, that is available without assuming what the Adviser considers to be undue risk to principal or income.
Principal investment strategy
"The Portfolio pursues its objective by investing principally in high-yielding, predominantly investment grade municipal securities. As a matter of fundamental policy, the Portfolio invests, under normal circumstances, at least 80% of its net assets in municipal securities that pay interest that is exempt from federal income tax. These securities may pay interest that is subject to the federal alternative minimum tax (""AMT"") for certain taxpayers. The Portfolio may invest more than 25% of its assets in a single state. The Portfolio may also invest in: forward commitments; tender option bonds (""TOBs""); zero-coupon municipal securities and variable, floating and inverse floating-rate municipal securities; and derivatives, such as options, futures contracts, forwards and swaps."
ALNCX Holdings
Top 10 holdings of AB National Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Lamar Consolidated Independent School District | 1.01% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 0.87% |
| Illinois State Toll Highway Authority | 0.79% |
| City of Tacoma WA Electric System Revenue | 0.77% |
| New York Transportation Development Corp | 0.75% |
| California Municipal Finance Authority | 0.62% |
| Private Colleges & Universities Authority | 0.62% |
| District of Columbia Income Tax Revenue | 0.58% |
| San Diego County Regional Airport Authority | 0.58% |
| Port of Seattle WA | 0.57% |
ALNCX Portfolio Allocation
Asset-class allocation of AB National Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 99.4% |
| Securitized | 0.6% |
| Cash & Equivalents | 0.3% |
| Real Estate | 0.1% |
ALNCX Performance
Total returns for ALNCX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.16% |
| 1 year | 5.90% |
| 3 years (annualised) | 3.10% |
| 5 years (annualised) | 0.06% |
ALNCX Risk Information
Risk metrics for ALNCX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.87%
ALNCX Costs and Fees
ALNCX costs about $150 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.50%
- Gross expense ratio: 1.55%
- Portfolio turnover: 21%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
ALNCX Cashflows
Over the 12 months to 2026-05, AB National Portfolio had net inflows of $102.75M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | $17.76M |
| 2026-04 | $2.05M |
| 2026-03 | $18.13M |
| 2026-02 | $9.76M |
| 2026-01 | $22.90M |
| 2025-12 | $13.69M |
ALNCX Debt Constituents
Largest debt holdings of AB National Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Lamar Consolidated Independent School District | 1.01% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 0.87% |
| Illinois State Toll Highway Authority | 0.79% |
| City of Tacoma WA Electric System Revenue | 0.77% |
| New York Transportation Development Corp | 0.75% |
| California Municipal Finance Authority | 0.62% |
| Private Colleges & Universities Authority | 0.62% |
| District of Columbia Income Tax Revenue | 0.58% |
| San Diego County Regional Airport Authority | 0.58% |
| Port of Seattle WA | 0.57% |
ALNCX Prospectus and SEC Filings
Official AB National Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-09-25
- Prospectus (485BPOS) — filed 2025-09-26
- Prospectus (485BPOS) — filed 2024-09-26
- Portfolio holdings (N-PORT) — filed 2026-09-24
- Portfolio holdings (N-PORT) — filed 2026-07-24
- Portfolio holdings (N-PORT) — filed 2026-04-24
- Annual census (N-CEN) — filed 2025-08-14
- Annual census (N-CEN) — filed 2024-08-12
Related Funds
Other Long Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.