PR Newswire | Jul 26, 2021 04:06PM EDT

Update

07/26 15:06 CDT

AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update NEW YORK, July 26, 2021

NEW YORK, July 26, 2021 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of June 30, 2021.

AllianceBernstein National Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings Portfolio %

1) Metropolitan Transportation Authority (Metropolitan Transportation 2.48%Authority Ded Tax) Series 2016A 5.25%, 11/15/35

2) Central Plains Energy Project (Goldman Sachs Group, Inc. (The)) Series 2.13%2017A 5.00%, 9/01/42

3) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 2.11%

4) Jefferson County Board of Education/AL Series 2018 5.00%, 2/01/46 1.76%

5) Wisconsin Public Finance Authority(CHF - Wilmington LLC) AGM 5.00%, 7/01 1.71%/58

6) Detroit Downtown Development Authority AGM Series 2018A 5.00%, 7/01/48 1.59%

7) Metropolitan Pier & Exposition Authority 5.00%, 6/15/50 1.56%

8) Los Angeles Department of Water & Power Power System Revenue Series 1.56%2013B 5.00%, 7/01/30

9) Tobacco Settlement Financing Corp./NJ Series 2018A 5.00%, 6/01/46 1.54%

10) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of 1.47%Florida, Inc.) Series 2014 5.00%, 11/15/39

Sector/Industry Breakdown Portfolio %

Revenue

Health Care - Not-for-Profit 22.08%

Airport 8.07%

Toll Roads/Transit 6.35%

Revenue - Miscellaneous 4.70%

Electric Utility 4.70%

Prepay Energy 2.77%

Water & Sewer 2.14%

Tobacco Securitization 1.54%

Higher Education - Public 1.01%

Higher Education - Private 0.93%

Primary/Secondary Ed. - Public 0.93%

Port 0.68%

Industrial Development - Utility 0.46%

Senior Living 0.26%

Industrial Development - Industry 0.19%

SUBTOTAL 56.81%

Tax Supported

Special Tax 17.86%

State G.O. 7.73%

Local G.O. 2.49%

Tax-Supported State Lease 2.45%

Assessment District 2.08%

Tax-Supported Local Lease 0.55%

SUBTOTAL 33.16%

Prerefunded/ETM 8.90%

Asset-Backed

Housing - Multi-Family 0.66%

SUBTOTAL 0.66%

Cash Equivalents

Investment Companies 0.47%

SUBTOTAL 0.47%

Total 100.00%

State Breakdown Portfolio %

New York 11.49%

California 10.71%

Illinois 10.40%

New Jersey 8.21%

Pennsylvania 7.71%

Florida 5.39%

Connecticut 5.35%

Texas 4.39%

Michigan 3.80%

South Carolina 3.09%

Wisconsin 2.93%

Alabama 2.44%

Nebraska 2.13%

Colorado 1.83%

Oklahoma 1.80%

North Carolina 1.60%

Minnesota 1.52%

Massachusetts 1.40%

Tennessee 1.39%

Arizona 1.30%

Utah 1.20%

Georgia 1.08%

Maryland 1.08%

Ohio 1.05%

District of Columbia 0.95%

Kansas 0.85%

Guam 0.84%

Kentucky 0.80%

West Virginia 0.67%

Puerto Rico 0.53%

Hawaii 0.41%

Arkansas 0.32%

Indiana 0.19%

Iowa 0.19%

Louisiana 0.18%

Washington 0.17%

New Hampshire 0.14%

Other 0.47%

Total Investments 100.00%

Credit Quality Breakdown Portfolio %

AAA 4.54%

AA 31.03%

A 33.15%

BBB 18.59%

BB 2.25%

D 0.28%

Not Rated 0.79%

Pre-refunded Bonds 8.90%

Short-Term Investments 0.47%

Total Investments 100.00%

Bonds By Maturity Portfolio %

Less than 1 year 0.47%

1 to 5 years 1.81%

5 to 10 years 23.16%

10 to 20 years 34.19%

20 to 30 years 35.20%

More Than 30 years 5.17%

Other 0.00%

Total Investments 100.00%

Portfolio Statistics:

AMT Percent: 9.84%

Average Coupon: 5.03%

Percentage of Leverage:

Bank Borrowing: 0.00%

Investment Operations: 0.33%

Auction Preferred Shares (APS): 0.00%

Tender Option Bonds: 3.91%

Variable Rate MuniFund Term Preferred Shares (VMTPs): 34.60%

Total Fund Leverage: 38.84%*

Average Effective Maturity: 4.71 Years

Effective Duration: 4.30 Years

Total Net Assets: $448.98 Million**

Common Stock Net Asset Value: $15.62

Number of Holdings: 179

Portfolio Turnover: 6%

* The total percentage of leverage constitutes 3.91% through the use of tenderoption bonds, 34.60% in issued and outstanding VMTPs and 0.330% in investmentoperations, which may include the use of certain portfolio managementtechniques such as credit default swaps, dollar rolls, negative cash, reverserepurchase 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 liabilityfor financial reporting purposes.

The foregoing portfolio characteristics are as of the date indicated and can beexpected to change. The Fund is a closed-end U.S.-registered managementinvestment company advised by AllianceBernstein L. P.

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SOURCE AllianceBernstein National Municipal Income Fund