AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE

Top 10 Fixed-Income Holdings

Portfolio %

1) Melissa Independent School District Series 2024-2 4.25%, 02/01/53

1.97 %

2) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54

1.93 %

3) Worthington City School District Series 2023 5.50%, 12/01/54

1.80 %

4) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54

1.80 %

5) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-A 5.50%, 10/01/55

1.79 %

6) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54

1.78 %

7) Dallas Independent School District Series 2024-2 4.00%, 02/15/54

1.77 %

8) Greenwood Independent School District Series 2025-2 5.00%, 02/15/49

1.76 %

9) County of Miami-Dade FL Aviation Revenue Series 2025-A 5.50%, 10/01/55

1.76 %

10) Leander Independent School District Series 2025-A 5.00%, 08/15/55

1.74 %

Investment Type

Portfolio %

State Breakdown

Portfolio %

Texas

16.57 %

Florida

8.60 %

Illinois

8.08 %

California

7.57 %

Wisconsin

6.34 %

New York

6.27 %

Massachusetts

5.48 %

Ohio

4.02 %

Colorado

3.40 %

Pennsylvania

3.10 %

South Carolina

2.78 %

New Hampshire

2.45 %

Michigan

2.25 %

District of Columbia

2.14 %

New Jersey

2.06 %

Arizona

1.94 %

Alabama

1.86 %

Louisiana

1.84 %

Hawaii

1.78 %

Nebraska

1.63 %

Virginia

1.42 %

Georgia

1.34 %

Minnesota

1.25 %

Indiana

0.81 %

North Carolina

0.73 %

Alaska

0.62 %

Washington

0.49 %

Tennessee

0.48 %

Utah

0.43 %

Oklahoma

0.37 %

Maryland

0.36 %

Arkansas

0.34 %

North Dakota

0.34 %

Nevada

0.33 %

Oregon

0.22 %

Connecticut

0.19 %

South Dakota

0.12 %

Total Investments

100.00 %

Net Currency Exposure Breakdown

Portfolio %

US Dollar

100.00 %

Total Net Assets

100.00 %

Credit Quality Breakdown

Portfolio %

AAA

15.13 %

AA

32.70 %

A

23.82 %

BBB

18.30 %

BB

6.83 %

B

0.51 %

Not Rated

2.69 %

Pre-refunded Bonds

0.02 %

Total

100.00 %

Bonds by Maturity

Portfolio %

Less than 1 Year

0.18 %

1 to 5 Years

0.89 %

5 to 10 Years

2.73 %

10 to 20 Years

16.26 %

20 to 30 Years

59.12 %

More than 30 Years

20.82 %

Other

0.00 %

Total Net Assets

100.00 %

Portfolio Statistics:

AMT Percent:

19.53 %

Average Coupon:

4.73 %

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00 %

Investment Operations:

2.52 %

Auction Preferred Shares (APS):

0.00 %

Tender Option Bonds:

7.54 %

VMTP Shares:

15.14 %

VRDP Shares:

17.15 %

Total Fund Leverage:

42.35 %

Average Maturity:

   17.25 Years

Effective Duration:

   12.01 Years

Total Net Assets:

$331.36 Million

Net Asset Value:

$11.53

Total Number of Holdings:

171

Portfolio Turnover:

32.00 %