AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

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  (Metropolitan Transportation Authority Ded Tax)  Series 2016-A  5.25%, 11/15/35	2.47%
2) Central Plains Energy Project  (Goldman Sachs Group, Inc. (The))  Series 2017-A  5.00%, 9/01/42	2.10%
3) State of Connecticut Special Tax Revenue    Series 2012  5.00%, 1/01/29	2.09%
4) Jefferson County Board of Education/AL    Series 2018  5.00%, 2/01/46	1.74%
5) Wisconsin Public Finance Authority  AGM  Series 2018  5.00%, 7/01/58	1.69%
6) Detroit Downtown Development Authority  AGM  Series 2018A  5.00%, 7/01/48	1.58%
7) Los Angeles Department of Water & Power Power System Revenue    Series 2013-B  5.00%, 7/01/30	1.54%
8) Tobacco Settlement Financing Corp./NJ    Series 2018A  5.00%, 6/01/46	1.53%
9) Metropolitan Pier & Exposition Authority    Series 2020  5.00%, 6/15/50	1.52%
10) Miami Beach Health Facilities Authority  (Mount Sinai Medical Center of Florida, Inc.)  Series 2014  5.00%, 11/15/39	1.46%
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