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AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

June 26, 2015 4:06 PM EDT

NEW YORK, June 26, 2015 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of May 31, 2015.

AllianceBernstein National Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings

Portfolio %

1) Texas Trnsp Comm 5.00%, 4/01/23

3.18%

2) Wayne State University Series 2009A 5.00%, 11/15/29

2.68%

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

2.27%

4) Massachusetts School Building Authority Series 2011B 5.00%, 10/15/32

2.13%

5) Univ of Illinois   AGM 5.25%, 10/01/26

1.69%

6) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30

1.66%

7) City of New York NY Series 2012I 5.00%, 8/01/28

1.45%

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

1.43%

9) New York State Dormitory Authority (State of New York Pers Income Tax)  Series 2012D 5.00%, 2/15/29

1.32%

10) Port Authority of New York & New Jersey Series 2014186 5.00%, 10/15/44

1.25%

Sector/Industry Breakdown

Portfolio %

Revenue

Higher Education - Public

8.08%

Toll Roads/Transit

7.36%

Health Care - Not-for-Profit

7.28%

Water & Sewer

7.21%

Airport

6.93%

Electric Utility

4.81%

Revenue - Miscellaneous

2.55%

Industrial Development - Utility

1.79%

Higher Education - Private

1.12%

Prepay Energy

0.71%

Senior Living

0.68%

Industrial Development - Industry

0.50%

Primary/Secondary Ed. - Public

0.36%

SUBTOTAL

49.38%

Tax Supported

Special Tax

20.13%

Local G.O.

8.30%

State G.O.

4.98%

Tax-Supported State Lease

2.57%

Tax-Supported Local Lease

2.41%

State Lease

1.69%

Assessment District

1.37%

SUBTOTAL

41.45%

Prerefunded/ETM

7.37%

Insured/Guaranteed

Guaranteed

0.91%

Insured

0.72%

SUBTOTAL

1.63%

Cash Equivalents

Investment Companies

0.17%

SUBTOTAL

0.17%

Total

100.00%

State Breakdown

Portfolio %

California

16.36%

New York

15.93%

Texas

12.83%

Connecticut

5.08%

Michigan

4.96%

Illinois

4.96%

Florida

4.89%

New Jersey

4.09%

Pennsylvania

4.04%

Massachusetts

3.99%

Colorado

3.40%

Washington

2.36%

Louisiana

2.05%

North Carolina

1.68%

Tennessee

1.51%

Ohio

1.38%

South Carolina

1.34%

Kentucky

1.23%

Alabama

0.94%

Oregon

0.85%

District of Columbia

0.83%

Hawaii

0.79%

Indiana

0.77%

Georgia

0.76%

Arizona

0.71%

Mississippi

0.57%

Wisconsin

0.36%

Arkansas

0.31%

Missouri

0.31%

Alaska

0.29%

Oklahoma

0.26%

Other

0.17%

Total Investments

100.00%

Credit Quality Breakdown

Portfolio %

AAA

16.42%

AA

50.30%

A

15.94%

BBB

7.82%

B

0.24%

Not Rated

1.74%

Pre-refunded Bonds

7.37%

Short Term Investments

0.17%

Total Investments

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

1.90%

1 to 5 years

5.81%

5 to 10 years

11.73%

10 to 20 years

67.65%

20 to 30 years

12.45%

More than 30 years

0.46%

Other

0.00%

Total Investments

100.00%

Portfolio Statistics:

AMT Percentage:

8.09%

Average Coupon:

5.40%

Percentage of Leverage:

Bank Borrowing:

0.00%

Investment Operations:

2.75%

Preferred Stock:

37.52%

Tender Option Bonds:

6.40%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

46.67%*

Average Effective Maturity:

6.22 Years

Effective Duration:

5.55 Years

Total Net Assets:

$657.98 Million**

Common Stock Net Asset Value:

$14.46

Number of Holdings:

174

Portfolio Turnover:

26%

* The total percentage of leverage constitutes 6.40% through the use of tender option bonds, 37.52% in issued and outstanding preferred stock and 2.75% 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.

** Includes 242,225,000 of preferred stock at liquidation value.

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.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-releases-monthly-portfolio-update-300105643.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.



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