AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

27 Jun, 2013, 16:07 ET from AllianceBernstein National Municipal Income Fund, Inc.

NEW YORK, June 27, 2013 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of May 31, 2013.

AllianceBernstein National Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings

Portfolio %

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

3.37%

2) Wayne State Univ MI Series 2009 5.00%,

2.67%

11/15/29

3) Washington Fed Hwy Grant Series 2012F

2.54%

5.00%, 9/01/24

4) Metro Atlanta Rapid Tran Auth GA 5.00%,

2.19%

7/01/27

5) Harris City TX Toll Road (Harris Cnty Tx Toll

1.98%

Road) Series 2012 5.00%, 8/15/30

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

1.74%

7) Triborough Brdg & Tunl Auth NY 5.00%,

1.67%

1/01/26

8) Metropolitan Trnsp Auth NY (Metro Trnsp Auth

1.66%

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

9) Texas GO Series 02A 5.50%, 8/01/41

1.36%

10) San Francisco City/Cnty CA Pub Util Wtr

1.34%

Series 2012C 5.00%, 11/01/27

Sector/Industry Breakdown

Portfolio %

Revenue

Water & Sewer

10.04%

Toll Roads/Transit

9.41%

Revenue - Miscellaneous

8.18%

Higher Education - Public

4.01%

Airport

3.68%

Health Care - Not-for-Profit

3.39%

Electric Utility

3.35%

Higher Education - Private

2.06%

Industrial Development - Utility

1.75%

Primary/Secondary Ed. - Private

0.85%

Senior Living

0.84%

Prepay Energy

0.69%

Primary/Secondary Ed. - Public

0.42%

SUBTOTAL

48.67%

Tax Supported

Special Tax

16.27%

Local G.O.

10.96%

State G.O.

5.82%

Tax-Supported Local Lease

3.17%

Assessment District

2.60%

State Lease

1.74%

Tax-Supported State Lease

1.44%

SUBTOTAL

42.00%

Insured/Guaranteed

Insured

2.60%

Guaranteed

1.49%

SUBTOTAL

4.09%

Prerefunded/ETM

2.92%

Asset-Backed

Housing - Multi-Family

1.68%

Housing - Single Family

0.57%

SUBTOTAL

2.25%

Cash Equivalents

Investment Companies

0.07%

SUBTOTAL

0.07%

Total

100.00%

State Breakdown

Portfolio %

Texas

19.04%

New York

13.79%

California

12.69%

Florida

6.78%

Illinois

5.58%

Washington

4.88%

Michigan

4.71%

Louisiana

4.25%

South Carolina

3.60%

Colorado

2.69%

Georgia

2.41%

Ohio

1.76%

New Jersey

1.74%

Oregon

1.57%

Pennsylvania

1.45%

Hawaii

1.43%

Puerto Rico

1.28%

Alabama

1.18%

Massachusetts

1.09%

Alaska

0.98%

Virginia

0.96%

Arizona

0.88%

Wisconsin

0.88%

Rhode Island

0.85%

North Carolina

0.61%

Mississippi

0.57%

Nevada

0.40%

Tennessee

0.38%

Maine

0.34%

Indiana

0.33%

Missouri

0.32%

Kansas

0.21%

Minnesota

0.18%

New Hampshire

0.12%

Other

0.07%

Total Investments

100.00%

Credit Quality Breakdown

Portfolio %

AAA

19.66%

AA

51.20%

A

15.25%

BBB

7.36%

BB

0.29%

B

0.44%

Not Rated

2.81%

Pre-refunded Bonds

2.92%

Short Term Investments

0.07%

Total Investments

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

0.08%

1 to 5 years

3.73%

5 to 10 years

12.23%

10 to 20 years

76.01%

20 to 30 years

7.95%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%

Portfolio Statistics:

AMT Percentage:

8.14%

Average Coupon:

5.49%

Percentage of Leverage:

Bank Borrowing:

0.00%

Investment Operations:

0.00%

Preferred Stock:

36.40%

Tender Option Bonds:

6.43%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

42.83%*

Average Effective Maturity:

6.02 Years

Effective Duration:

5.34 Years

Total Net Assets:

$665.50 Million**

Common Stock Net Asset Value:

$14.73

Number of Holdings:

177

Portfolio Turnover:

28%

* The total percentage of leverage constitutes 6.43% through the use of tender option bonds, 36.40% in issued and outstanding preferred stock and 0.00% 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.