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
2.72 %
2) Melissa Independent School District Series 2023 4.25%, 02/01/53
2.18 %
3) City of New York NY Series 2023 4.125%, 08/01/53
1.93 %
4) Denton Independent School District Series 2023 5.00%, 08/15/48
1.89 %
5) Lamar Consolidated Independent School District Series 2023-A 5.00%, 02/15/53
1.86 %
6) Commonwealth of Massachusetts Series 2023 5.00%, 05/01/53
1.86 %
7) City of El Paso TX Series 2021-C 4.00%, 08/15/47
1.74 %
8) Wisconsin Public Finance Authority Series 2018 5.00%, 07/01/58
1.74 %
9) Wisconsin Public Finance Authority Series 2022 5.00%, 02/01/62
1.71 %
10) Detroit Downtown Development Authority Series 2018-A 5.00%, 07/01/48
1.69 %
Sector/Industry Breakdown
Portfolio %
Revenue
Health Care – Not-for-Profit
13.80 %
Revenue – Miscellaneous
6.12 %
Airport
5.31 %
Prepay Energy
5.30 %
Toll Roads/Transit
4.26 %
Higher Education – Private
3.44 %
Electric Utility
3.23 %
Industrial Development – Industry
2.88 %
Tobacco Securitization
2.03 %
Primary/Secondary Ed. – Public
1.75 %
Port
0.91 %
Industrial Development – Utility
0.52 %
Water & Sewer
0.40 %
Senior Living
0.23 %
SUBTOTAL
50.18 %
Tax Supported
Local G.O.
17.92 %
State G.O.
7.62 %
Special Tax
7.59 %
State Lease
0.59 %
Assessment District
0.17 %
SUBTOTAL
33.89 %
Insured/Guaranteed
Guaranteed
8.11 %
SUBTOTAL
8.11 %
Prerefunded/ETM
3.70 %
Commercial Mortgage-Backed Securities
2.26 %
Cash & Cash Equivalents
Funds and Investment Trusts
1.86 %
SUBTOTAL
1.86 %
Total
100.00 %
State Breakdown
Portfolio %
Texas
13.12 %
Illinois
10.07 %
New York
6.27 %
Michigan
6.17 %
Florida
6.06 %
Wisconsin
5.91 %
California
5.72 %
Pennsylvania
4.90 %
New Jersey
4.85 %
Massachusetts
3.77 %
South Carolina
3.07 %
Louisiana
2.91 %
Georgia
2.30 %
New Hampshire
2.10 %
Arizona
2.00 %
Washington
1.93 %
Ohio
1.91 %
Minnesota
1.63 %
Nebraska
1.63 %
Nevada
1.55 %
Oklahoma
1.51 %
Virginia
1.43 %
Colorado
1.25 %
Utah
1.22 %
Iowa
1.04 %
North Carolina
0.73 %
West Virginia
0.68 %
Indiana
0.50 %
North Dakota
0.43 %
Maryland
0.37 %
Arkansas
0.34 %
Oregon
0.22 %
Connecticut
0.19 %
South Dakota
0.14 %
Puerto Rico
0.10 %
Tennessee
0.07 %
Alabama
0.05 %
Other
1.86 %
Total Investments
100.00 %
Credit Quality Breakdown
Portfolio %
AAA
11.48 %
AA
30.07 %
A
29.71 %
BBB
17.98 %
BB
3.93 %
B
0.13 %
CCC
0.15 %
D
0.22 %
Not Rated
0.77 %
Pre-refunded Bonds
3.70 %
Short Term Investments
1.86 %
Total
100.00 %
Bonds by Maturity
Portfolio %
Less than 1 Year
4.91 %
1 To 5 Years
2.14 %
5 To 10 Years
6.19 %
10 To 20 Years
21.35 %
20 To 30 Years
53.73 %
More than 30 Years
11.68 %
Other
0.00 %
Total Net Assets
100.00 %
Portfolio Statistics:
AMT Percent:
12.13 %
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:
39.15 %
Total Fund Leverage:
39.15%*
Average Maturity:
9.04 Years
Effective Duration:
6.90 Years
Total Net Assets:
$367.40 Million**
Common Stock Net Asset Value:
$12.78
Total Number of Holdings:
171
Portfolio Turnover:
55.00 %