NEW YORK, Feb. 27, 2024 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of January 31, 2024.
AllianceBernstein National Municipal Income Fund, Inc.
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Top 10 Fixed-Income Holdings
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| Portfolio %
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1) Lamar Consolidated Independent School District Series 2023-A 5.00%, 02/15/53
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| 2.70 %
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2) City of New Orleans LA Series 2021-A 5.00%, 12/01/46
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| 2.66 %
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3) Melissa Independent School District Series 2023 4.25%, 02/01/53
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| 2.13 %
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4) Dallas Independent School District Series 2024 4.00%, 02/15/54
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| 1.93 %
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5) City of New York NY Series 2023 4.125%, 08/01/53
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| 1.86 %
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6) Denton Independent School District Series 2023 5.00%, 08/15/48
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| 1.82 %
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7) Commonwealth of Massachusetts Series 2023 5.00%, 05/01/53
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| 1.80 %
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8) City of El Paso TX Series 2021-C 4.00%, 08/15/47
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| 1.71 %
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9) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58
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| 1.69 %
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10) Wisconsin Public Finance Authority Series 2022 5.00%, 02/01/62
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| 1.65 %
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Sector/Industry Breakdown
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| Portfolio %
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Revenue
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Health Care - Not-for-Profit
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| 13.44 %
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Prepay Energy
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| 6.39 %
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Revenue - Miscellaneous
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| 6.01 %
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Airport
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| 5.17 %
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Toll Roads/Transit
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| 4.22 %
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Higher Education - Private
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| 3.36 %
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Electric Utility
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| 3.14 %
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Industrial Development - Industry
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| 2.76 %
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Tobacco Securitization
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| 1.99 %
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Primary/Secondary Ed. - Public
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| 1.69 %
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Port
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| 1.40 %
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Industrial Development - Utility
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| 0.51 %
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Water & Sewer
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| 0.39 %
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Senior Living
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| 0.23 %
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SUBTOTAL
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| 50.70 %
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Tax Supported
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Local G.O.
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| 17.46 %
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State G.O.
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| 7.42 %
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Special Tax
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| 6.84 %
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State Lease
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| 0.57 %
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Assessment District
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| 0.17 %
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SUBTOTAL
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| 32.46 %
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Insured/Guaranteed
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Guaranteed
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| 10.67 %
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SUBTOTAL
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| 10.67 %
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Prerefunded/ETM
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| 3.62 %
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Commercial Mortgage-Backed Securities
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| 2.16 %
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Cash & Cash Equivalents
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|
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Funds and Investment Trusts
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| 0.39 %
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SUBTOTAL
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| 0.39 %
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Total
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| 100.00 %
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|
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State Breakdown
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| Portfolio %
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Texas
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| 15.64 %
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Illinois
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| 9.84 %
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California
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| 6.31 %
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New York
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| 6.10 %
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Michigan
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| 6.00 %
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Florida
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| 5.86 %
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Wisconsin
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| 5.19 %
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Pennsylvania
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| 4.81 %
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New Jersey
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| 4.74 %
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Massachusetts
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| 3.66 %
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South Carolina
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| 2.99 %
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Louisiana
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| 2.85 %
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Colorado
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| 2.26 %
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Georgia
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| 2.24 %
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New Hampshire
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| 2.02 %
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Arizona
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| 1.92 %
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Ohio
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| 1.87 %
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Washington
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| 1.87 %
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Minnesota
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| 1.60 %
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Nebraska
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| 1.58 %
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Nevada
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| 1.50 %
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Oklahoma
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| 1.46 %
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Virginia
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| 1.39 %
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Utah
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| 1.19 %
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Iowa
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| 1.02 %
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North Carolina
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| 0.75 %
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West Virginia
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| 0.66 %
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Indiana
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| 0.49 %
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North Dakota
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| 0.42 %
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Maryland
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| 0.36 %
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Arkansas
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| 0.33 %
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Oregon
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| 0.21 %
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Connecticut
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| 0.18 %
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South Dakota
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| 0.13 %
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Puerto Rico
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| 0.10 %
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Tennessee
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| 0.07 %
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Other
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| 0.39 %
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Total Investments
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| 100.00 %
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|
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Credit Quality Breakdown
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| Portfolio %
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AAA
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| 13.96 %
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AA
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| 30.28 %
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A
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| 29.16 %
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BBB
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| 17.52 %
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BB
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| 3.86 %
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B
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| 0.13 %
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CCC
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| 0.10 %
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D
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| 0.22 %
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Not Rated
|
| 0.76 %
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Pre-refunded Bonds
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| 3.62 %
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Short Term Investments
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| 0.39 %
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Total
|
| 100.00 %
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|
|
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Bonds by Maturity
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| Portfolio %
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Less than 1 Year
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| 3.37 %
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1 To 5 Years
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| 2.08 %
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5 To 10 Years
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| 6.31 %
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10 To 20 Years
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| 21.20 %
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20 To 30 Years
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| 53.70 %
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More than 30 Years
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| 13.34 %
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Other
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| 0.00 %
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Total Net Assets
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| 100.00 %
|
|
|
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Portfolio Statistics:
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|
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AMT Percent:
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| 12.02 %
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Average Coupon:
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| 4.59 %
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Percentage of Leverage:
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|
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Bank Borrowing:
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| 0.00 %
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Investment Operations:
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| 2.39 %
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Auction Preferred Shares (APS):
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| 0.00 %
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Tender Option Bonds:
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| 0.00 %
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VMTP Shares:
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| 38.34 %
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Total Fund Leverage:
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| 40.73%*
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Average Maturity:
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| 10.49 Years
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Effective Duration:
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| 7.73 Years
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Total Net Assets:
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| $364.47 Million**
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Common Stock Net Asset Value:
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| $12.68
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Total Number of Holdings:
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| 173
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Portfolio Turnover:
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| 55.00 %
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* The total percentage of leverage constitutes 0.00% through the use of tender option bonds, 38.34% in issued and outstanding VMTPs and 2.39% 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.
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SOURCE AllianceBernstein National Municipal Income Fund, Inc.
