AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE

NEW YORK, Nov. 28, 2023 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of October 31, 2023.

AllianceBernstein National Municipal Income Fund, Inc.


Top 10 Fixed-Income Holdings		Portfolio %
1) City of New Orleans LA Series 2021-A 5.00%, 12/01/46		2.79 %
2) Melissa Independent School District Series 2023 4.25%, 02/01/53		2.03 %
3) Denton Independent School District Series 2023 5.00%, 08/15/48		1.89 %
4) Commonwealth of Massachusetts Series 2023 5.00%, 05/01/53		1.88 %
5) City of New York NY Series 2023 4.125%, 08/01/53		1.78 %
6) Detroit City School District Series 2001-A 6.00%, 05/01/29		1.75 %
7) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58		1.74 %
8) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48		1.73 %
9) Tobacco Settlement Financing Corp./NJ Series 2018-A 5.25%, 06/01/46		1.64 %
10) City of El Paso TX Series 2021-C 4.00%, 08/15/47		1.60 %

Sector/Industry Breakdown		Portfolio %
Revenue
Health Care - Not-for-Profit		14.52 %
Revenue - Miscellaneous		7.61 %
Airport		7.41 %
Prepay Energy		5.75 %
Toll Roads/Transit		4.82 %
Higher Education - Private		3.29 %
Electric Utility		3.24 %
Industrial Development - Industry		2.81 %
Tobacco Securitization		2.09 %
Primary/Secondary Ed. - Public		1.75 %
Port		0.86 %
Industrial Development - Utility		0.56 %
Water & Sewer		0.42 %
Senior Living		0.23 %
SUBTOTAL		55.36 %
Tax Supported
Local G.O.		18.07 %
State G.O.		7.93 %
Special Tax		7.68 %
State Lease		0.61 %
Assessment District		0.18 %
SUBTOTAL		34.47 %
Insured/Guaranteed
Guaranteed		4.38 %
SUBTOTAL		4.38 %
Commercial Mortgage-Backed Securities		2.24 %
Cash & Cash Equivalents
Funds and Investment Trusts		1.81 %
SUBTOTAL		1.81 %
Prerefunded/ETM		1.74 %
Total		100.00 %

State Breakdown		Portfolio %
Texas		10.17 %
Illinois		10.08 %
New York		7.09 %
California		6.92 %
Michigan		6.77 %
Florida		5.89 %
Wisconsin		5.62 %
New Jersey		5.15 %
Pennsylvania		4.94 %
South Carolina		3.20 %
Louisiana		3.00 %
Massachusetts		2.85 %
Arizona		2.44 %
Georgia		2.33 %
New Hampshire		2.05 %
Washington		1.91 %
Ohio		1.90 %
Nebraska		1.67 %
Minnesota		1.58 %
Oklahoma		1.55 %
North Carolina		1.53 %
Nevada		1.47 %
Virginia		1.39 %
Colorado		1.37 %
Utah		1.25 %
Iowa		0.98 %
West Virginia		0.68 %
Indiana		0.45 %
Maryland		0.39 %
Arkansas		0.36 %
North Dakota		0.35 %
Oregon		0.19 %
Connecticut		0.18 %
Alabama		0.16 %
South Dakota		0.13 %
Puerto Rico		0.10 %
Tennessee		0.07 %
Kentucky		0.03 %
Other		1.81 %
Total Investments		100.00 %

Credit Quality Breakdown		Portfolio %
AAA		7.89 %
AA		32.41 %
A		32.67 %
BBB		18.17 %
BB		3.59 %
B		0.57 %
CCC		0.12 %
D		0.24 %
Not Rated		0.79 %
Pre-refunded Bonds		1.74 %
Short Term Investments		1.81 %
Total		100.00 %

Bonds by Maturity		Portfolio %
Less than 1 Year		3.49 %
1 To 5 Years		1.33 %
5 To 10 Years		9.97 %
10 To 20 Years		22.45 %
20 To 30 Years		49.89 %
More than 30 Years		12.87 %
Other		0.00 %
Total Net Assets		100.00 %

Portfolio Statistics:
AMT Percent:		13.71 %
Average Coupon:		4.47 %
Percentage of Leverage:
Bank Borrowing:		0.00 %
Investment Operations:		0.00 %
Auction Preferred Shares (APS):		0.00 %
Tender Option Bonds:		0.00 %
VMTP Shares:		43.25 %
Total Fund Leverage:		43.25%*
Average Maturity:		16.99 Years
Effective Duration:		10.54 Years
Total Net Assets:		$311.65 Million**
Common Stock Net Asset Value:		$10.84
Total Number of Holdings:		176
Portfolio Turnover:		18.00 %


* The total percentage of leverage constitutes 0.00% through the use of tender option bonds, 43.25%
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.