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 %