AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Nov 27, 2012, 16:06 ET from AllianceBernstein National Municipal Income Fund, Inc.

NEW YORK, Nov. 27, 2012 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of October 31, 2012.

AllianceBernstein National Municipal Income Fund, Inc.


Top 10 Fixed-Income Holdings




Portfolio %

1)

Texas Trnsp Comm   Series 07  5.00%,  4/01/23

3.23%

2)

Metropolitan Trnsp Auth NY (Metro Trnsp Auth

2.74%


NY Ded Tax) Series 2012A 5.00%, 11/15/28


3)

Wayne State Univ MI   Series 2009  5.00%,

2.49%


11/15/29


4)

Washington Fed Hwy Grant   Series 2012F

2.48%


5.00%, 9/01/24


5)

Metro Atlanta Rapid Tran Auth GA     5.00%,

2.10%


7/01/27


6)

Harris City TX Toll Road   Series 2012  5.00%,

1.93%


8/15/30


7)

Triborough Brdg & Tunl Auth NY     5.00%,

1.63%


1/01/26


8)

New York NY Trnsl Fin Auth   Series 2011B

1.61%


5.00%, 2/01/26


9)

Univ of Illinois   AGM Series 07A 5.25%,

1.60%


10/01/26


10)

San Francisco City/Cnty CA Pub Util Wtr

1.31%


5.00%, 11/01/27





Sector/Industry Breakdown



Portfolio %

Revenue



Water & Sewer

9.74%


Toll Roads/Transit

6.64%


Revenue - Miscellaneous

5.20%


Health Care - Not-for-Profit

4.53%


Airport

4.42%


Higher Education - Public

3.77%


Electric Utility

3.38%


Industrial Development - Utility

2.33%


Higher Education - Private

1.50%


Industrial Development - Airline

1.27%


Primary/Secondary Ed. - Private

0.81%


Senior Living

0.80%


Prepay Energy

0.64%


Primary/Secondary Ed. - Public

0.48%

SUBTOTAL

45.51%

Tax Supported



Special Tax

18.38%


Local G.O.

11.14%


State G.O.

5.09%


Tax-Supported Local Lease

3.32%


Assessment District

2.79%


State Lease

1.60%


Tax-Supported State Lease

1.43%

SUBTOTAL

43.75%

Prerefunded/ETM

4.64%

Insured/Guaranteed



Insured

2.42%


Guaranteed

1.44%

SUBTOTAL

3.86%

Asset-Backed



Housing - Multi-Family

1.58%


Housing - Single Family

0.66%

SUBTOTAL

2.24%

Total

100.00%





State Breakdown



Portfolio %

Texas

18.90%

New York

15.91%

California

12.86%

Florida

5.34%

Michigan

5.08%

Washington

4.71%

Louisiana

4.15%

Illinois

4.13%

South Carolina

3.45%

Colorado

2.66%

Georgia

2.10%

Pennsylvania

1.69%

Ohio

1.68%

New Jersey

1.67%

Virginia

1.65%

Oregon

1.48%

Hawaii

1.36%

Alaska

1.36%

Puerto Rico

1.31%

Alabama

1.13%

Nevada

1.03%

Wisconsin

0.99%

Arizona

0.82%

Rhode Island

0.81%

Massachusetts

0.75%

North Carolina

0.59%

Mississippi

0.54%

Missouri

0.38%

Tennessee

0.36%

Maine

0.33%

Indiana

0.31%

Kansas

0.19%

Minnesota

0.17%

New Hampshire

0.11%

Total Investments

100.00%






          Credit Quality Breakdown



Portfolio %

               AAA

20.39%

               AA

47.41%

               A

14.54%

               BBB

9.23%

               BB

0.27%

               B

0.41%

               Not Rated

3.11%

               Pre-refunded Bonds

4.64%

               Total Investments

100.00%



Portfolio Statistics:


     AMT Percentage:

16.66%

     Average Coupon:

5.73%

     Percentage of Leverage:



Bank Borrowing:

0.00%


Investment Operations:

4.86%


Preferred Stock:

35.63%


Tender Option Bonds:

6.29%


Term Asset-Backed Loans Facility (TALF):

0.00%


Total Fund Leverage:

46.78%*

     Average Effective Maturity:

5.96 Years

     Effective Duration:

5.31 Years

     Total Net Assets:

$679.97 Million**

     Common Stock Net Asset Value:

$15.24

     Number of Holdings:

200

     Portfolio Turnover:

10%

* The total percentage of leverage constitutes 6.29% through the use of tender option bonds, 35.63% in issued and outstanding preferred stock and 4.86% 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.

SOURCE AllianceBernstein National Municipal Income Fund, Inc.