PR Newswire | Sep 27, 2021 04:06PM EDT

Update

09/27 15:06 CDT

AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update NEW YORK, Sept. 27, 2021

NEW YORK, Sept. 27, 2021 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of August 31,2021.

AllianceBernstein National Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings Portfolio %

1) Metropolitan Transportation Authority (MetropolitanTransportation Authority Ded Tax) Series 2016-A 5.25%, 11/ 2.47%15/35

2) Central Plains Energy Project (Goldman Sachs Group, Inc. 2.10%(The)) Series 2017-A 5.00%, 9/01/42

3) State of Connecticut Special Tax Revenue Series 2012 2.09%5.00%, 1/01/29

4) Jefferson County Board of Education/AL Series 2018 1.74%5.00%, 2/01/46

5) Wisconsin Public Finance Authority AGM Series 2018 1.69%5.00%, 7/01/58

6) Detroit Downtown Development Authority AGM Series 2018A 1.58%5.00%, 7/01/48

7) Los Angeles Department of Water & Power Power System 1.54%Revenue Series 2013-B 5.00%, 7/01/30

8) Tobacco Settlement Financing Corp./NJ Series 2018A 1.53%5.00%, 6/01/46

9) Metropolitan Pier & Exposition Authority Series 2020 1.52%5.00%, 6/15/50

10) Miami Beach Health Facilities Authority (Mount SinaiMedical Center of Florida, Inc.) Series 2014 5.00%, 11/15/ 1.46%39

Sector/Industry Breakdown Portfolio %

Revenue

Health Care - Not-for-Profit 21.99%

Airport 8.02%

Toll Roads/Transit 6.30%

Electric Utility 5.21%

Revenue - Miscellaneous 4.68%

Prepay Energy 2.74%

Water & Sewer 2.11%

Tobacco Securitization 1.53%

Higher Education - Public 1.00%

Higher Education - Private 0.93%

Primary/Secondary Ed. - Public 0.92%

Port 0.69%

Industrial Development - Utility 0.46%

Senior Living 0.26%

Industrial Development - Industry 0.19%

SUBTOTAL 57.03%

Tax Supported

Special Tax 18.05%

State G.O. 7.68%

Local G.O. 2.47%

Tax-Supported State Lease 2.44%

Assessment District 2.06%

Tax-Supported Local Lease 0.55%

SUBTOTAL 33.25%

Prerefunded/ETM 8.81%

Asset-Backed

Housing - Multi-Family 0.66%

SUBTOTAL 0.66%

Cash Equivalents

Investment Companies 0.25%

SUBTOTAL 0.25%

Total 100.00%

State Breakdown Portfolio %

New York 11.44%

California 10.60%

Illinois 10.30%

New Jersey 8.15%

Pennsylvania 7.68%

Florida 5.37%

Connecticut 5.30%

Texas 4.70%

Michigan 3.77%

South Carolina 3.08%

Wisconsin 2.91%

Alabama 2.43%

Nebraska 2.10%

Colorado 1.81%

Oklahoma 1.80%

Georgia 1.62%

North Carolina 1.59%

Minnesota 1.51%

Massachusetts 1.39%

Tennessee 1.38%

Arizona 1.29%

Utah 1.20%

Maryland 1.07%

Ohio 1.05%

District of Columbia 0.94%

Kansas 0.86%

Guam 0.83%

Kentucky 0.80%

West Virginia 0.66%

Puerto Rico 0.53%

Hawaii 0.41%

Arkansas 0.32%

Indiana 0.19%

Iowa 0.19%

Louisiana 0.18%

Washington 0.17%

New Hampshire 0.13%

Other 0.25%

Total Investments 100.00%

Credit Quality Breakdown Portfolio %

AAA 4.50%

AA 30.78%

A 33.28%

BBB 19.08%

BB 2.23%

D 0.28%

Not Rated 0.79%

Pre-refunded Bonds 8.81%

Short-Term Investments 0.25%

Total Investments 100.00%

Bonds By Maturity Portfolio %

Less than 1 year 0.25%

1 to 5 years 1.79%

5 to 10 years 22.94%

10 to 20 years 33.99%

20 to 30 years 36.12%

More Than 30 years 4.91%

Other 0.00%

Total Investments 100.00%

Portfolio Statistics:

AMT Percent: 9.84%

Average Coupon: 5.01%

Percentage of Leverage:

Bank Borrowing: 0.00%

Investment Operations: 0.70%

Auction Preferred Shares (APS): 0.00%

Tender Option Bonds: 3.91%

Variable Rate MuniFund Term Preferred Shares (VMTPs): 34.58%

Total Fund Leverage: 39.19%*

Average Effective Maturity: 4.60 Years

Effective Duration: N/A

Total Net Assets: $447.69 Million**

Common Stock Net Asset Value: $15.57

Number of Holdings: 185

Portfolio Turnover: 6%

* The total percentage of leverage constitutes 3.91% through the use of tender option bonds, 34.58% in issued and outstanding VMTPs and 0.700% 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