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AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update


News provided by

AllianceBernstein National Municipal Income Fund, Inc.

Apr 24, 2012, 04:06 ET

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NEW YORK, April 24, 2012 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) (the "Fund") today released its monthly portfolio update as of March 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

3.34%

2) Wayne State Univ MI Series 2009 5.00%, 11/15/29

2.49%

3) Chicago IL O'Hare Intl Arpt (O'Hare Intl Arpt) NPFGC Series A 5.375%, 1/01/32

2.11%

4) Wisconsin Hlth & Ed Fac Auth (Ministry Health Care, Inc.) NPFGC Series 02A 5.25%, 2/15/32

1.94%

5) Triborough Brdg & Tunl Auth NY 5.00%, 1/01/26

1.65%

6) New York NY Trnsl Fin Auth Series 2011B 5.00%, 2/01/26

1.63%

7) Univ of Illinois AGM Series 07A 5.25%, 10/01/26

1.61%

8) Bexar Cnty TX HFC MFHR (Doral Club & Sutton House Apts) NPFGC Series 01A 5.55%, 10/01/36

1.52%

9) Indianapolis IN Loc Bond Bank NPFGC Series 2A 5.25%, 7/01/33 (Prerefunded/ETM)

1.42%

10) Twenty Fifth Ave Pptys WA NPFGC Series 02 5.25%, 6/01/33 (Prerefunded/ETM)

1.38%



Sector/Industry Breakdown

Portfolio %



Revenue



Health Care - Not-for-Profit  

7.89%


Airport

7.42%


Water & Sewer

6.44%


Higher Education - Public

3.82%


Revenue - Miscellaneous

2.85%


Industrial Development - Utility

2.46%


Toll Roads/Transit

2.26%


Higher Education - Private

1.75%


Industrial Development - Industry

1.62%


Industrial Development - Airline

1.34%


Electric Utility

1.31%


Primary/Secondary Ed. - Private

0.84%


Senior Living

0.80%


Health Care - Municipal

0.78%


Prepay Energy

0.63%


Primary/Secondary Ed. - Public

0.48%

SUBTOTAL

42.69%

Tax Supported



Special Tax

12.32%


Local G.O.

8.13%


State G.O.

5.40%


Assessment District

4.61%


Tax-Supported Local Lease

3.35%


State Lease

1.61%


Tax-Supported State Lease

1.47%

SUBTOTAL

36.89%

Prerefunded/ETM

11.25%

Asset-Backed



Housing - Multi-Family

3.39%


Student Loan

1.09%


Housing - Single Family

0.82%

SUBTOTAL

5.30%

Insured/Guaranteed



Insured

2.41%


Guaranteed

1.46%

SUBTOTAL

3.87%

Total

100.00%



State Breakdown

Portfolio %



Texas

19.44%

California

11.50%

New York

10.87%

Florida

7.11%

Illinois

6.80%

Michigan

5.17%

Washington

3.65%

Alabama

3.38%

Wisconsin

3.03%

Colorado

2.75%

Louisiana

2.56%

Indiana

1.76%

Nevada

1.73%

Pennsylvania

1.72%

Oregon

1.52%

Tennessee

1.46%

Alaska

1.46%

Hawaii

1.39%

Puerto Rico

1.39%

South Carolina

1.35%

Virginia

1.23%

Ohio

1.09%

Massachusetts

1.08%

Arizona

1.04%

Rhode Island

0.84%

New Jersey

0.82%

North Carolina

0.60%

Mississippi

0.56%

District of Columbia

0.50%

Missouri

0.47%

Georgia

0.35%

Maine

0.34%

North Dakota

0.31%

Utah

0.21%

Kansas

0.19%

Minnesota

0.17%

New Hampshire

0.12%

Iowa

0.04%

Total Investments

100.00%



Credit Quality Breakdown

Portfolio %


AAA

21.52%


AA

28.46%


A

22.38%


BBB

11.91%


B

0.43%


Not Rated

4.05%


Pre-refunded Bonds

11.25%


Total Investments

100.00%




Portfolio Statistics:


AMT Percentage:

18.46%

Average Coupon:

5.69

Percentage of Leverage:



Bank Borrowing:

0.00%


Investment Operations:

2.31%


Preferred Stock:

36.38%


Tender Option Bonds:

6.42%


Term Asset-Backed Loans Facility (TALF):

0.00%


Total Fund Leverage:

45.11%*

Average Effective Maturity:

4.89 Years

Effective Duration:

 4.06 Years

Total Net Assets:

$665.88 Million**

Common Stock Net Asset Value:

$14.76

Number of Holdings:

208

Portfolio Turnover

10

* The total percentage of leverage constitutes 6.42% through the use of tender option bonds, 36.38% in issued and outstanding preferred
stock and 2.31% 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.

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