AllianceBernstein National Municipal Income Fund, Inc. Releases Monthly Portfolio Update

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12/27/2022 - 04:06 PM

NEW YORK, Dec. 27, 2022 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of November 30, 2022.


AllianceBernstein National Municipal Income Fund, Inc.


Top 10 Fixed-Income Holdings		Portfolio %
1) State of Connecticut Special Tax Revenue Series 2012-A 5.00%, 01/01/29		2.42 %
2) Detroit City School District Series 2001-A 6.00%, 05/01/29		1.85 %
3) Jefferson County Board of Education/AL Series 2018 5.00%, 02/01/46		1.82 %
4) Central Plains Energy Project Series 2017-A 5.00%, 09/01/42		1.80 %
5) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58		1.77 %
6) Los Angeles Department of Water & Power Power System Revenue Series 2013-B 5.00%, 07/01/30		1.76 %
7) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48		1.75 %
8) Virginia Small Business Financing Authority Series 2022 3.00%, 01/01/41		1.59 %
9) Wisconsin Public Finance Authority Series 2022 5.00%, 02/01/62		1.58 %
10) Tobacco Settlement Financing Corp./NJ Series 2018-A 5.00%, 06/01/46		1.53 %

Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		19.76 %
Airport		9.25 %
Revenue - Miscellaneous		6.48 %
Toll Roads/Transit		5.74 %
Electric Utility		5.61 %
Higher Education - Private		2.99 %
Tobacco Securitization		2.82 %
Prepay Energy		2.69 %
Industrial Development - Industry		2.62 %
Water & Sewer		2.60 %
Primary/Secondary Ed. - Public		2.36 %
Port		1.57 %
Industrial Development - Utility		0.52 %
Higher Education - Public		0.51 %
Senior Living		0.24 %
SUBTOTAL		65.76 %
Tax Supported
Special Tax		12.53 %
State G.O.		8.36 %
Local G.O.		5.51 %
State Lease		1.21 %
SUBTOTAL		27.61 %
Prerefunded/ETM		3.64 %
Commercial Mortgage-Backed Securities		1.60 %
Cash & Cash Equivalents
Funds and Investment Trusts		1.39 %
SUBTOTAL		1.39 %
Total		100.00 %

State Breakdown		Portfolio %
Illinois		11.63 %
California		9.56 %
New Jersey		8.14 %
New York		6.15 %
Wisconsin		5.99 %
Pennsylvania		5.62 %
Connecticut		5.16 %
Michigan		4.97 %
Florida		4.55 %
Texas		3.73 %
South Carolina		3.18 %
Alabama		2.79 %
Ohio		2.68 %
Virginia		2.31 %
Nebraska		1.80 %
Georgia		1.78 %
Minnesota		1.72 %
North Carolina		1.67 %
Maryland		1.54 %
Oklahoma		1.54 %
New Hampshire		1.47 %
Arizona		1.34 %
Utah		1.23 %
Colorado		1.19 %
District of Columbia		1.06 %
Iowa		0.97 %
Kansas		0.89 %
Hawaii		0.82 %
West Virginia		0.68 %
Washington		0.53 %
Louisiana		0.50 %
Indiana		0.49 %
Arkansas		0.35 %
Tennessee		0.19 %
Massachusetts		0.13 %
South Dakota		0.13 %
Puerto Rico		0.10 %
Kentucky		0.03 %
Other		1.39 %
Total Investments		100.00 %

Credit Quality Breakdown		Portfolio %
AAA		3.65 %
AA		31.85 %
A		31.39 %
BBB		23.57 %
BB		2.87 %
D		0.23 %
Not Rated		0.34 %
Pre-refunded Bonds		3.64 %
Short Term Investments		2.46 %
Total		100.00 %

Bonds by Maturity		Portfolio %
Less than 1 Year		3.40 %
1 To 5 Years		7.45 %
5 To 10 Years		16.77 %
10 To 20 Years		24.98 %
20 To 30 Years		36.41 %
More than 30 Years		10.99 %
Other		0.00 %
Total Net Assets		100.00 %

Portfolio Statistics:
AMT Percent:		13.88 %
Average Coupon:		4.49 %
Percentage of Leverage:
Bank Borrowing:		0.00 %
Investment Operations:		0.00 %
Auction Preferred Shares (APS):		0.00 %
Tender Option Bonds:		0.00 %
VMTP Shares:		40.40 %
Total Fund Leverage:		40.40%*
Average Maturity:		8.67 Years
Effective Duration:		5.93 Years
Total Net Assets:		$350.23 Million**
Common Stock Net Asset Value:		$12.18
Total Number of Holdings:		188
Portfolio Turnover:		5.00 %

* The total percentage of leverage constitutes 0.00% through the use of tender option bonds, 40.40% in issued and outstanding VMTPs 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 $232,125,000 of VMTPs 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.