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

About this update from Alliancebernstein Holding L.p.
NEW YORK , Aug. 24, 2026 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. [NYSE: AFB] (the "Fund") today released its monthly portfolio update as of July 31, 2026. AllianceBernstein National Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio % 1) San Francisco Intl Airport Series 2026-2 5.50%, 05/01/55 3.71 % 2) Melissa Independent School District Series 2024-2 4.25%, 02/01/53 2.11 % 3) Commonwealth of Massachusetts Series 2025-2 5.00%, 01/01/54 2.00 % 4) New York Transportation Development Corp. Series 2024 Zero Coupon, 12/31/54 1.96 % 5) Oklahoma Turnpike Authority Series 2023 4.50%, 01/01/53 1.93 % 6) Dallas Independent School District Series 2024-2 4.00%, 02/15/54 1.87 % 7) State of Hawaii Airports System Revenue Series 2025-2 5.50%, 07/01/54 1.85 % 8) Worthington City School District Series 2025-2 5.50%, 12/01/54 1.85 % 9) Metropolitan Washington Airports Authority Aviation Revenue Series 2025-2 5.50%, 10/01/55 1.85 % 10) City of Atlanta GA Department of Aviation Series 2025-2 5.50%, 07/01/55 1.84 % Sector/Industry Breakdown Portfolio % Revenue Airport 14.72 % Health Care - Not-for-Profit 10.30 % Toll Roads/Transit 5.87 % Industrial Development - Airline 5.19 % Revenue - Miscellaneous 4.63 % Prepay Energy 4.36 % Primary/Secondary Ed. - Public 4.25 % Higher Education - Private 3.15 % Student Housing 2.39 % Port 2.18 % Industrial Development - Industry 2.00 % Senior Living 1.86 % Higher Education - Public 1.78 % Water & Sewer 1.50 % Electric Utility 0.57 % Tobacco Securitization 0.30 % Primary/Secondary Ed. - Private 0.17 % SUBTOTAL 65.22 % Tax Supported Local G.O. 9.79 % State G.O. 6.76 % Special Tax 3.44 % Local Lease 1.58 % Assessment District 0.54 % State Lease 0.28 % SUBTOTAL 22.39 % Guaranteed 9.89 % Asset-Backed Housing - Multi-Family 1.80 % SUBTOTAL 1.80 % Commercial Mortgage-Backed Securities Non-Agency Fixed Rate CMBS 0.51 % SUBTOTAL 0.51 % Cash & Cash Equivalents Funds and Investment Trusts 0.17 % SUBTOTAL 0.17 % Prerefunded/ETM 0.02 % Total 100.00 % State Breakdown Portfolio % Texas 12.57 % California 12.04 % Florida 8.45 % New York 8.30 % Illinois 7.49 % Massachusetts 6.22 % Wisconsin 5.80 % Ohio 4.19 % Georgia 3.68 % Hawaii 3.67 % New Hampshire 3.43 % District of Columbia 2.57 % Pennsylvania 2.49 % Oklahoma 2.32 % Arizona 1.96 % Colorado 1.96 % Louisiana 1.39 % Minnesota 1.30 % Michigan 1.26 % Alabama 0.98 % Nebraska 0.91 % Connecticut 0.90 % Utah 0.76 % Virginia 0.76 % South Carolina 0.69 % Washington 0.68 % Maryland 0.54 % Tennessee 0.52 % Indiana 0.51 % New Jersey 0.36 % Arkansas 0.35 % North Dakota 0.35 % Oregon 0.24 % South Dakota 0.13 % North Carolina 0.05 % Other 0.18 % Total Investments 100.00 % Credit Quality Breakdown Portfolio % AAA 10.45 % AA 39.31 % A 18.07 % BBB 16.72 % BB 7.94 % B 0.53 % Not Rated 6.79 % Pre-refunded Bonds 0.02 % Short Term Investments 0.17 % Total 100.00 % Bonds by Maturity Portfolio % Less than 1 Year 0.32 % 1 to 5 Years 0.13 % 5 to 10 Years 2.57 % 10 to 20 Years 14.32 % 20 to 30 Years 64.16 % More than 30 Years 18.50 % Other 0.00 % Total Net Assets 100.00 % Portfolio Statistics: AMT Percent: 21.99 % Average Coupon: 5.90 % Percentage of Leverage: Bank Borrowing: 0.00 % Investment Operations: 0.09 % Auction Preferred Shares (APS): 0.00 % Tender Option Bonds: 23.40 % VMTP Shares: 0.00 % VRDP Shares: 17.66 % Total Fund Leverage: 41.15%* Average Maturity: 14.04 Years Effective Duration: 12.36 Years Total Net Assets: $339.07 Million** Common Stock Net Asset Value: $11.80 Total Number of Holdings: 189 Portfolio Turnover: 56.00 % * The total percentage of leverage constitutes 23.40% through the use of tender option bonds, 17.66% in issued and outstanding VRDPs and 0.09% 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. ** The Fund also had outstanding $100,000,000 of VRDPs at liquidation value, which is not included in Total Net Assets because it is treated as a liability for financial reporting purposes. 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. View original content: https://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-inc-releases-monthly-portfolio-update-302858563.html SOURCE AllianceBernstein National Municipal Income Fund, Inc.
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