Regulatory Filings • Mar 27, 2009
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Download Source FileN-Q 1 dnq.htm ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC AllianceBernstein National Municipal Income Fund, Inc
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-10573
ALLIANCEBERNSTEIN NATIONAL MUNICIPAL
INCOME FUND, INC.
(Exact name of registrant as specified in charter)
1345 Avenue of the Americas, New York, New York 10105
(Address of principal executive offices) (Zip code)
Joseph J. Mantineo
AllianceBernstein L.P.
1345 Avenue of the Americas
New York, New York 10105
(Name and address of agent for service)
Registrants telephone number, including area code: (800) 221-5672
Date of fiscal year end: October 31, 2009
Date of reporting period: January 31, 2009
ITEM 1. SCHEDULE OF INVESTMENTS.
AllianceBernstein National Municipal Income Fund
Portfolio of Investments
January 31, 2009 (unaudited)
| Principal Amount (000) | U.S. $ Value | |
|---|---|---|
| MUNICIPAL OBLIGATIONS - 183.8% | ||
| Long-Term Municipal Bonds - 181.9% | ||
| Alabama - 6.3% | ||
| Huntsville Hlth Care Auth (Huntsville Hosp Sys) (Prerefunded) | ||
| Series 02B | ||
| 5.75%, 6/01/32 | $ 6,000 | $ 6,828,420 |
| Jefferson Cnty Ltd Oblig Sch Warrants | ||
| Series 04A | ||
| 5.25%, 1/01/18 - 1/01/23 | 3,100 | 1,744,093 |
| Jefferson Cnty Swr Rev (Capital Impr Warrants) (Prerefunded) | ||
| FGIC Series 02 | ||
| 5.00%, 2/01/41 | 1,535 | 1,663,080 |
| FGIC Series 02B | ||
| 5.00%, 2/01/41 | 2,465 | 2,694,886 |
| Marshall Cnty Hlth Care Auth (Marshall Cnty Med Ctr) | ||
| Series 02A | ||
| 5.75%, 1/01/32 | 2,500 | 2,133,275 |
| Series 02D | ||
| 5.75%, 1/01/32 | 3,000 | 2,556,780 |
| Montgomery Spl Care Fac Fin Auth (Baptist Hlth) | ||
| Series 04C | ||
| 5.125%, 11/15/24 | 1,500 | 1,261,500 |
| 5.25%, 11/15/29 | 1,810 | 2,093,157 |
| 20,975,191 | ||
| Alaska - 2.8% | ||
| Alaska Intl Arpt Rev | ||
| MBIA Series 03B | ||
| 5.00%, 10/01/26 | 2,000 | 1,853,620 |
| Alaska Muni Bond Bank Auth | ||
| MBIA Series 04G | ||
| 5.00%, 2/15/22 - 2/15/24 | 2,930 | 3,016,653 |
| Four Dam Pwr Agy | ||
| Series 04 | ||
| 5.00%, 7/01/24 | 1,035 | 974,670 |
| 5.25%, 7/01/25 - 7/01/26 | 3,580 | 3,410,991 |
| 9,255,934 |
| Arizona - 1.7% | ||
|---|---|---|
| Arizona Cap Fac Fin Corp (Arizona St Univ Proj) | ||
| Series 00 | ||
| 6.25%, 9/01/32 | 1,550 | 1,137,111 |
| Phoenix Civic Impr Corp. Wastewtr Sys | ||
| MBIA Series 04 | ||
| 5.00%, 7/01/23 | 1,250 | 1,289,338 |
| Salt Verde Fin Corp. (Prepaid Gas) | ||
| 5.25%, 12/01/22 - 12/01/23 | 4,150 | 3,241,224 |
| 5,667,673 | ||
| Arkansas - 0.7% | ||
| Arkansas Dev Fin Auth SFMR (Mtg Rev) | ||
| GNMA/ FNMA Series 02A | ||
| 5.30%, 7/01/34 | 2,575 | 2,434,199 |
| California - 16.3% | ||
| California | ||
| 5.00%, 2/01/32 | 2,450 | 2,230,088 |
| Series 04 | ||
| 5.00%, 2/01/33 | 1,100 | 993,003 |
| California (Unrefunded) | ||
| 5.25%, 4/01/30 | 20 | 19,402 |
| Chula Vista IDR (San Diego Gas) | ||
| Series 96A | ||
| 5.30%, 7/01/21 | 4,000 | 3,883,040 |
| Coachella Valley Uni Sch Dist | ||
| MBIA Series 03 | ||
| 5.00%, 9/01/31 | 1,000 | 878,210 |
| Coast CCD | ||
| FSA Series 06B | ||
| 5.00%, 8/01/23 - 8/01/24 (a) | 11,370 | 11,686,602 |
| Golden St Tobacco Securitization Corp. (Prerefunded) | ||
| RADIAN Series 03 | ||
| 5.50%, 6/01/43 | 2,250 | 2,571,637 |
| XLCA Series 03B | ||
| 5.50%, 6/01/33 | 3,000 | 3,428,850 |
| Grossmont-Cuyamaca CCD | ||
| ASSURED GTY | ||
| 5.00%, 8/01/23 (a) | 2,140 | 2,225,258 |
| Grossmont-Cuyamaca CCD | ||
| ASSURED GTY | ||
| 5.00%, 8/01/22 (a) | 2,340 | 2,481,523 |
| Hartnell CCD (Prerefunded) | ||
| MBIA Series 03A | ||
| 5.00%, 8/01/27 | 1,155 | 1,336,497 |
| La Quinta Fin Auth | ||
|---|---|---|
| AMBAC Series 04A | ||
| 5.25%, 9/01/24 | 2,000 | 2,021,080 |
| Los Angeles CCD | ||
| Series F-1 | ||
| 5.00%, 8/01/28 | 5,800 | 5,721,816 |
| Los Angeles Comnty Redev Agy (Grand Central Square) | ||
| Series 04L | ||
| 5.00%, 3/01/18 | 1,715 | 1,651,991 |
| Los Angeles Regl Arpt (Laxfuel Corp) AMT | ||
| AMBAC Series 01 | ||
| 5.50%, 1/01/32 | 9,500 | 8,048,685 |
| Pomona COP | ||
| AMBAC Series 03 | ||
| 5.50%, 6/01/34 | 3,000 | 2,789,460 |
| San Rafael Elem Sch Dist | ||
| FSA Series 03A | ||
| 5.00%, 8/01/28 | 2,820 | 2,651,674 |
| 54,618,816 | ||
| Colorado - 4.8% | ||
| Avon Hsg Auth MFHR (Buffalo Ridge II Proj) AMT | ||
| GNMA Series 02A | ||
| 5.70%, 10/20/43 (b) | 4,950 | 4,927,230 |
| Colorado Ed & Cultural Fac Auth (Knowledge Quest Charter Sch) | ||
| Series 05 | ||
| 6.50%, 5/01/36 | 495 | 354,336 |
| Colorado Hlth Fac Auth (Evangelical Lutheran Proj) | ||
| 5.25%, 6/01/19 - 6/01/23 | 2,425 | 2,078,059 |
| Colorado Hlth Fac Auth (Parkview Med Ctr) | ||
| Series 04 | ||
| 5.00%, 9/01/25 | 2,560 | 2,050,355 |
| Colorado Toll Rev (Hwy E-470) (Prerefunded) | ||
| Series 00 | ||
| Zero Coupon, 9/01/35 | 10,000 | 1,484,800 |
| Northwest Metro Dist No 3 | ||
| 6.125%, 12/01/25 | 1,000 | 541,680 |
| Park Creek Metro Dist Rev Ltd (Ref-Sr-Ltd Tax Ppty Tax) | ||
| Series 05 | ||
| 5.25%, 12/01/25 | 3,000 | 1,998,960 |
| 5.50%, 12/01/30 | 890 | 568,603 |
| Todd Creek Farms Metro Dist No 1 — 6.125%, 12/01/22 | 1,970 | 1,355,931 |
|---|---|---|
| Series 04 | ||
| 6.125%, 12/01/19 | 1,180 | 873,342 |
| 16,233,296 | ||
| District Of Columbia - 1.0% | ||
| Dist of Columbia Spl Tax Rev (Gallery Place Proj) | ||
| FSA Series 02 | ||
| 5.40%, 7/01/31 | 3,500 | 3,338,090 |
| Florida - 16.9% | ||
| Beacon Tradeport CDD | ||
| Series 02B | ||
| 7.25%, 5/01/33 | 4,930 | 3,768,640 |
| Brevard Cnty HFA SFMR (Mtg Rev) AMT | ||
| GNMA Series 02C | ||
| 5.40%, 3/01/33 | 615 | 514,896 |
| Collier Cnty CFD (Fiddlers Creek) | ||
| Series 02A | ||
| 6.875%, 5/01/33 | 2,865 | 1,970,891 |
| Series 02B | ||
| 6.625%, 5/01/33 | 2,155 | 1,435,230 |
| Dade Cnty Arpt Rev (Miami Intl Arpt) AMT | ||
| FGIC Series 02 | ||
| 5.375%, 10/01/32 | 6,040 | 4,729,139 |
| Florida Ed & Athletic Fac (FSU Fin Assistance) | ||
| AMBAC Series 02 | ||
| 5.00%, 10/01/31 | 5,000 | 4,721,300 |
| Florida HFC MFHR (Westlake Apts) AMT | ||
| FSA Series 02-D1 | ||
| 5.40%, 3/01/42 | 8,780 | 7,591,451 |
| Florida HFC MFHR (Westminster Apts) AMT | ||
| FSA Series 02E-1 | ||
| 5.40%, 4/01/42 | 3,000 | 2,593,560 |
| Hamal CDD (Prerefunded) | ||
| Series 01 | ||
| 6.75%, 5/01/31 | 2,460 | 2,777,315 |
| Lee Cnty Arpt Rev (Southwest Fl Intl) AMT | ||
| FSA Series 00A | ||
| 5.75%, 10/01/22 - 10/01/25 | 9,500 | 9,008,335 |
| Lee Cnty IDA (Shell Point) (Prerefunded) | ||
|---|---|---|
| Series 99A | ||
| 5.50%, 11/15/29 | 6,170 | 6,467,949 |
| Miami Beach Hlth Fac Auth (Mount Sinai Med Ctr) | ||
| 6.75%, 11/15/24 | 4,000 | 2,666,200 |
| Midtown Miami CDD | ||
| Series 04A | ||
| 6.00%, 5/01/24 | 2,475 | 1,759,478 |
| Miromar Lakes CDD | ||
| Series 00A | ||
| 7.25%, 5/01/12 | 1,140 | 1,060,656 |
| Orange Cnty Hosp (Orlando Regl) (Prerefunded) | ||
| Series 02 | ||
| 5.75%, 12/01/32 | 2,800 | 3,246,348 |
| Pinellas Cnty HFA SFMR (Mtg Rev) AMT | ||
| GNMA/ FNMA Series 02A | ||
| 5.40%, 3/01/32 | 695 | 592,571 |
| Univ of Central Florida Athletics Assoc, Inc. | ||
| FGIC Series 04A | ||
| 5.125%, 10/01/24 | 1,325 | 1,109,900 |
| Village CDD | ||
| Series 03A | ||
| 6.00%, 5/01/22 | 695 | 582,639 |
| 56,596,498 | ||
| Georgia - 1.6% | ||
| Cartersville Dev Auth (Anheuser Busch Proj) AMT | ||
| Series 02 | ||
| 5.95%, 2/01/32 | 2,510 | 1,968,367 |
| Georgia HFA SFMR (Mtg Rev) AMT | ||
| Series 02A-02 | ||
| 5.60%, 12/01/32 | 3,785 | 3,456,311 |
| 5,424,678 | ||
| Hawaii - 1.2% | ||
| Hawaii Dept of Budget & Fin Spl Purpose Rev (Elec Co & Subsidiary Prog) | ||
| XLCA Series 03B | ||
| 5.00%, 12/01/22 | 4,500 | 3,991,320 |
| Illinois - 20.8% | ||
| Bolingbrook (Prerefunded) | ||
| FGIC Series 02A | ||
| 5.375%, 1/01/38 | 5,000 | 5,549,300 |
| Chicago (Prerefunded) | ||
|---|---|---|
| FGIC Series 00C | ||
| 5.50%, 1/01/40 (c) | 9,135 | 9,822,591 |
| Chicago (Unrefunded) | ||
| FGIC Series 00C | ||
| 5.50%, 1/01/40 | 5,450 | 5,459,428 |
| FSA Series A | ||
| 5.00%, 1/01/25 | 380 | 384,431 |
| Chicago Arpt Rev (OHare Intl Arpt) | ||
| XLCA Series 03B-1 | ||
| 5.25%, 1/01/34 | 4,860 | 4,248,758 |
| Chicago Arpt Rev (OHare Intl Arpt) AMT | ||
| MBIA Series A | ||
| 5.375%, 1/01/32 (b) | 15,000 | 11,659,800 |
| Chicago Hsg Agy SFMR (Mtg Rev) AMT | ||
| GNMA/ FNMA Series 02B | ||
| 6.00%, 10/01/33 (d) | 410 | 398,200 |
| Chicago Incr Alloc (Diversey/Narragansett Redev Proj) | ||
| 7.46%, 2/15/26 | 1,880 | 1,489,167 |
| Chicago Sales Tax Rev | ||
| FGIC Series 98 | ||
| 5.25%, 1/01/28 | 5,710 | 5,724,275 |
| Cook Cnty Sch Dist | ||
| FSA Series 04 | ||
| 5.00%, 12/01/20 (e) | 2,000 | 2,108,380 |
| Gilberts Spl Svc Area No 15 Spl Tax (Gilberts Town Ctr Proj) | ||
| Series 03 | ||
| 6.00%, 3/01/28 | 2,766 | 1,848,601 |
| Hampshire Spl Svc Area No 14 | ||
| 5.80%, 3/01/26 | 1,845 | 1,218,586 |
| Illinois Fin Auth (Illinois Inst of Technology) | ||
| Series 06A | ||
| 5.00%, 4/01/31 | 1,250 | 882,487 |
| Illinois Fin Auth (Loyola Univ Chicago) | ||
| XLCA Series 04A | ||
| 5.00%, 7/01/24 | 1,495 | 1,482,263 |
| Manhattan (No 04-1 Brookstone Springs Proj) | ||
| Series 05 | ||
| 5.875%, 3/01/28 | 1,856 | 1,234,667 |
| Metro Pier & Expo Auth (McCormick Place) | ||
| MBIA Series 02A | ||
| 5.25%, 6/15/42 | 5,500 | 5,314,980 |
| Univ of Illinois | ||
|---|---|---|
| FSA Series 07A | ||
| 5.25%, 10/01/26 (a) | 10,800 | 10,821,600 |
| 69,647,514 | ||
| Indiana - 5.3% | ||
| Hendricks Cnty Bldg Fac Corp. | ||
| Series 04 | ||
| 5.50%, 7/15/21 | 1,045 | 1,106,174 |
| Hendricks Cnty Bldg Fac Corp. (First Mtg) | ||
| Series 04 | ||
| 5.50%, 7/15/22 | 1,105 | 1,166,029 |
| Indiana Dev Fin Auth (Inland Steel) | ||
| Series 97 | ||
| 5.75%, 10/01/11 | 2,925 | 2,798,611 |
| Indiana HFA SFMR (Mtg Rev) AMT | ||
| GNMA/ FNMA Series 02 | ||
| 5.55%, 7/01/32 | 1,630 | 1,397,986 |
| Indianapolis Pub Impr Bond Bank (Prerefunded) | ||
| MBIA Series 2A | ||
| 5.25%, 7/01/33 | 10,000 | 11,312,600 |
| 17,781,400 | ||
| Iowa - 0.2% | ||
| Coralville Urban Rev Tax Incr | ||
| Series 07C | ||
| 5.00%, 6/01/18 | 260 | 262,806 |
| Iowa Fin Auth SFMR (Mtg Rev) AMT | ||
| GNMA/ FNMA Series 02 | ||
| 5.40%, 7/01/32 | 340 | 285,110 |
| 547,916 | ||
| Kansas - 0.3% | ||
| Lenexa Hlth Care Fac (Lakeview Village Inc.) | ||
| 5.25%, 5/15/22 | 1,395 | 935,933 |
| Louisiana - 4.5% | ||
| Louisiana Agriculture Fin Auth | ||
| 5.25%, 9/15/17 | 4,270 | 3,807,602 |
| Louisiana HFA SFMR (Mtg Rev) Amt | ||
| GNMA/ FNMA Series 02C | ||
| 5.60%, 6/01/33 (d) | 935 | 906,034 |
| New Orleans | ||
| MBIA | ||
| 5.00%, 3/01/18 | 2,285 | 2,145,021 |
| 5.25%, 12/01/20 | 1,000 | 950,850 |
| MBIA Series 05 — 5.00%, 12/01/29 | 2,700 | 2,129,787 |
|---|---|---|
| RADIAN Series A | ||
| 5.00%, 12/01/22 | 5,875 | 5,176,462 |
| 15,115,756 | ||
| Massachusetts - 4.7% | ||
| Massachusetts (Prerefunded) | ||
| Series 02C | ||
| 5.25%, 11/01/30 | 7,000 | 7,869,890 |
| Massachusetts HEFA (Berkshire Hlth Sys) | ||
| RADIAN Series 01E | ||
| 5.70%, 10/01/25 | 2,000 | 1,592,880 |
| Massachusetts HEFA (Cape Cod Hlthcare) | ||
| RADIAN Series 01C | ||
| 5.25%, 11/15/31 | 2,100 | 1,293,684 |
| Massachusetts HEFA (Tufts New England Med Ctr) | ||
| MBIA Series 93 | ||
| 5.38%, 7/01/18 | 2,900 | 2,868,274 |
| Massachusetts HFA MFHR (Rental Rev) | ||
| AMBAC Series 95E | ||
| 6.00%, 7/01/41 | 1,740 | 1,564,173 |
| Massachusetts HFA MFHR (Rental Rev) AMT | ||
| MBIA Series 00H | ||
| 6.65%, 7/01/41 | 540 | 542,106 |
| 15,731,007 | ||
| Michigan - 6.3% | ||
| Detroit Swr Disp Rev | ||
| MBIA | ||
| 5.25%, 7/01/22 | 5,000 | 4,837,600 |
| Kent Hosp Fin Auth (Metro Hosp Proj) | ||
| Series 05A | ||
| 5.75%, 7/01/25 | 1,080 | 790,722 |
| Michigan Hosp Fin Auth (Trinity Hlth) | ||
| Series 00A | ||
| 6.00%, 12/01/27 | 3,000 | 2,984,670 |
| Michigan Strategic Fund Hlth Fac (Detroit Edison) AMT | ||
| XLCA Series 02C | ||
| 5.45%, 12/15/32 | 5,000 | 3,891,500 |
| Plymouth Ed Ctr Pub Sch (Academy Rev) | ||
| Series 05 | ||
| 5.125%, 11/01/23 | 2,140 | 1,533,396 |
| Saginaw Hosp Fin Auth (Covenant Med Ctr) | ||
|---|---|---|
| Series 00F | ||
| 6.50%, 7/01/30 | 7,185 | 6,951,056 |
| 20,988,944 | ||
| Minnesota - 0.5% | ||
| Shakopee Hlth Care Fac (St Francis Regl Med Ctr) | ||
| Series 04 | ||
| 5.10%, 9/01/25 | 1,200 | 990,648 |
| St. Paul Hsg & Redev Auth (Hltheast Proj) | ||
| Series 05 | ||
| 6.00%, 11/15/25 | 1,000 | 760,240 |
| 1,750,888 | ||
| Mississippi - 1.2% | ||
| Adams Cnty PCR (Intl Paper Co.) AMT | ||
| Series 99 | ||
| 6.25%, 9/01/23 | 1,000 | 697,660 |
| Gulfport Hosp Fac Rev (Mem Hosp at Gulfport Proj) | ||
| Series 01A | ||
| 5.75%, 7/01/31 | 4,000 | 3,443,400 |
| 4,141,060 | ||
| Missouri - 1.0% | ||
| Kansas City (Downtown Arena Proj) | ||
| Series 08C | ||
| 5.00%, 4/01/28 | 2,000 | 1,909,680 |
| Missouri SFMR (Mtg Rev) AMT | ||
| GNMA/ FNMA Series 02A-1 | ||
| 5.58%, 9/01/32 (d) | 950 | 934,391 |
| Riverside IDA (Riverside Horizons Proj) | ||
| ACA Series 07A | ||
| 5.00%, 5/01/27 | 600 | 468,222 |
| 3,312,293 | ||
| Nevada - 8.2% | ||
| Carson City Hosp Rev (Carson-Tahoe Hosp Proj) | ||
| RADIAN Series 03A | ||
| 5.00%, 9/01/23 | 4,700 | 3,315,004 |
| Clark Cnty Arpt Rev (Prerefunded) | ||
| FGIC Series 01B | ||
| 5.25%, 7/01/34 | 11,920 | 12,979,211 |
| Nevada Dept Business & Indl (Las Vegas Monorail Proj) | ||
| AMBAC Series 00 | ||
| 5.625%, 1/01/32 | 6,720 | 3,305,971 |
| Reno Cap Impr Rev (Prerefunded) | ||
|---|---|---|
| FGIC Series 02 | ||
| 5.375%, 6/01/32 | 4,710 | 5,316,083 |
| Reno Cap Impr Rev (Unrefunded) | ||
| FGIC Series 02 | ||
| 5.375%, 6/01/32 | 2,790 | 2,595,621 |
| 27,511,890 | ||
| New Hampshire - 1.6% | ||
| New Hampshire HEFA (Covenant Hlth) | ||
| Series 04 | ||
| 5.375%, 7/01/24 | 820 | 735,220 |
| New Hampshire HEFA (Covenant Med Ctr) (Prerefunded) | ||
| Series 02 | ||
| 6.125%, 7/01/31 (c) | 4,200 | 4,758,684 |
| 5,493,904 | ||
| New Jersey - 1.8% | ||
| Morris-Union Jointure Comnty COP | ||
| RADIAN Series 04 | ||
| 5.00%, 5/01/24 | 7,185 | 5,612,778 |
| New Jersey EDA (New Jersey St Contract) | ||
| Series 05 | ||
| 5.25%, 3/01/25 | 500 | 502,040 |
| 6,114,818 | ||
| New Mexico - 0.1% | ||
| Dona Ana Cnty Tax Rev | ||
| AMBAC Series 03 | ||
| 5.25%, 5/01/25 | 500 | 483,000 |
| New York - 5.5% | ||
| New York City | ||
| Series 06J | ||
| 5.00%, 6/01/22 | 1,160 | 1,181,274 |
| New York City | ||
| Series 04G | ||
| 5.00%, 12/01/23 | 1,600 | 1,612,752 |
| New York St Dorm Auth (Personal Income Tax) | ||
| 5.00%, 3/15/26 (a) | 7,000 | 7,117,530 |
| New York St Enviro Fac Corp. (Revolving Funds - NYC Muni Wtr) | ||
| 5.00%, 6/15/24 - 6/15/27 (a) | 7,000 | 7,131,425 |
| New York St HFA (Econ Dev & Hsg) | ||
| FGIC Series 05A | ||
| 5.00%, 9/15/25 | 300 | 302,814 |
| Ulster Cnty IDA (Kingston Regl Sr Living Corp.-Woodland Pond at New Patlz Proj) — 6.00%, 9/15/27 | 1,775 | 1,225,354 |
|---|---|---|
| 18,571,149 | ||
| North Carolina - 1.2% | ||
| Charlotte Arpt Rev | ||
| MBIA Series 04A | ||
| 5.25%, 7/01/24 | 2,895 | 2,905,654 |
| Iredell Cnty COP | ||
| FSA Series 08 | ||
| 5.25%, 6/01/22 | 1,080 | 1,173,636 |
| 4,079,290 | ||
| North Dakota - 1.1% | ||
| North Dakota HFA SFMR (Mtg Rev) AMT | ||
| Series 02 | ||
| 5.65%, 1/01/34 | 1,020 | 899,814 |
| Series 98E | ||
| 5.25%, 1/01/30 | 1,150 | 1,109,704 |
| Ward Cnty Hlth Care Fac (Trinity Hlth) | ||
| 5.125%, 7/01/18 - 7/01/20 | 2,075 | 1,641,836 |
| 3,651,354 | ||
| Ohio - 3.3% | ||
| Cleveland Cuyahoga Port Auth (Univ Heights Ohio-Pub Parking Proj) | ||
| Series 01 | ||
| 7.35%, 12/01/31 | 5,000 | 3,842,100 |
| Cuyahoga Cnty Hosp Fac (Univ Hosp Hlth) | ||
| Series 00 | ||
| 7.50%, 1/01/30 | 2,400 | 2,051,256 |
| Fairfield Cnty Hosp Rev (Fairfield Med Ctr Proj) | ||
| RADIAN Series 03 | ||
| 5.00%, 6/15/22 - 6/15/24 | 5,210 | 3,659,879 |
| Port Auth of Columbiana Cnty SWFR (Apex Enviro LLC) AMT | ||
| Series 04A | ||
| 7.125%, 8/01/25 | 1,840 | 1,536,087 |
| 11,089,322 | ||
| Oregon - 1.1% | ||
| Forest Grove Rev (Ref & Campus Impr Pacific Proj A) | ||
| RADIAN Series 05A | ||
| 5.00%, 5/01/28 | 4,760 | 3,702,709 |
| Pennsylvania - 3.1% | ||
| Allegheny Cnty Hosp Dev Auth (West Pennsylvania Hlth Sys) | ||
| 5.00%, 11/15/28 | 4,800 | 2,589,648 |
| Allegheny Cnty IDA (Residential Reserves Inc Proj) | ||
| 5.00%, 9/01/21 | 500 | 407,095 |
| Montgomery Cnty IDA (Whitemarsh Continuing Care Ret Comnty) — 6.00%, 2/01/21 | 875 | 624,934 |
|---|---|---|
| Pennsylvania EDA (30th St Station) AMT | ||
| ACA Series 02 | ||
| 5.875%, 6/01/33 | 4,100 | 3,122,396 |
| Pennsylvania Trpk Transp Rev (Prerefunded) | ||
| AMBAC Series 01 | ||
| 5.00%, 7/15/41 | 2,000 | 2,205,740 |
| Philadelphia IDA (Leadership Learning Partners) | ||
| Series 05A | ||
| 5.25%, 7/01/24 | 1,150 | 821,249 |
| Wilkes-Barre Fin Auth (Wilkes Univ Proj) | ||
| 5.00%, 3/01/22 | 990 | 766,597 |
| 10,537,659 | ||
| Puerto Rico - 2.5% | ||
| Puerto Rico (Pub Impr) | ||
| 5.25%, 7/01/23 | 2,625 | 2,374,024 |
| Series 01A | ||
| 5.50%, 7/01/19 | 1,705 | 1,653,526 |
| Series 03A | ||
| 5.25%, 7/01/23 | 500 | 449,120 |
| Puerto Rico Govt Dev Bank (Sr Notes) | ||
| Series 06B | ||
| 5.00%, 12/01/15 | 1,000 | 951,530 |
| Puerto Rico Pub Bldg Auth | ||
| Series N | ||
| 5.50%, 7/01/22 | 3,370 | 3,125,540 |
| 8,553,740 | ||
| Rhode Island - 1.6% | ||
| Rhode Island Hlth & Ed Bldg Corp. (Times 2 Academy) | ||
| Series 04 | ||
| 5.00%, 12/15/24 | 5,845 | 5,390,843 |
| South Carolina - 3.0% | ||
| Charleston Cnty Sch Dist | ||
| 5.25%, 12/01/30 | 2,000 | 1,931,820 |
| Dorchester Cnty Sch Dist No 2 | ||
| ASSURED GTY | ||
| 5.00%, 12/01/29 | 1,600 | 1,512,112 |
| Newberry Investing in Childrens Ed (Newberry Cnty Sch Dist Proj) | ||
|---|---|---|
| ASSURED GTY Series 05 | ||
| 5.00%, 12/01/27 | 5,450 | 5,287,917 |
| Series 05 | ||
| 5.00%, 12/01/30 | 550 | 429,995 |
| Scago Ed Fac Corp. (Calhoun Sch Dist) | ||
| RADIAN | ||
| 5.00%, 12/01/21 | 1,000 | 934,370 |
| 10,096,214 | ||
| Tennessee - 4.8% | ||
| Ed Loan Rev (Ed Funding of South) AMT | ||
| Series 97A | ||
| 6.20%, 12/01/21 | 8,985 | 8,984,371 |
| Sullivan Cnty Hlth Ed (Wellmont Hlth Sys) | ||
| Series 06C | ||
| 5.00%, 9/01/22 | 1,760 | 1,213,362 |
| 5.25%, 9/01/26 | 725 | 477,267 |
| Tennessee Energy Acquisition Corp. | ||
| Series A | ||
| 5.25%, 9/01/22 | 5,000 | 3,810,000 |
| Tennessee Energy Acquisition Corp. (Prepaid Gas) | ||
| Series A | ||
| 5.25%, 9/01/21 | 2,000 | 1,547,160 |
| 16,032,160 | ||
| Texas - 32.6% | ||
| Bexar Cnty Hlth Fac Dev Corp. | ||
| 5.00%, 7/01/27 | 525 | 341,906 |
| Bexar Cnty Hsg Fin Corp MFHR (Doral Club & Sutton House Apts) | ||
| MBIA Series 01A | ||
| 5.55%, 10/01/36 (b) | 14,425 | 9,706,582 |
| Camino Real Regl Mobility Auth | ||
| 5.00%, 2/15/22 | 480 | 481,459 |
| Series 2008 | ||
| 5.00%, 8/15/21 | 1,210 | 1,218,095 |
| Dallas Independent Sch Dist | ||
| Series 08 | ||
| 6.00%, 2/15/28 | 2,500 | 2,725,350 |
| Dallas-Fort Worth Arpt Rev (Fort Worth Intl Arpt) AMT | ||
| MBIA Series 03A | ||
| 5.25%, 11/01/25 | 2,000 | 1,771,280 |
| Dallas-Fort Worth Arpt Rev (Fort Worth Intl Arpt) | ||
| FGIC Series 01 | ||
| 5.50%, 11/01/35 | 6,500 | 5,479,760 |
| Dripping Springs Independent Sch Dist | ||
|---|---|---|
| Series 08 | ||
| 5.125%, 2/15/28 | 5,715 | 5,852,789 |
| Frisco | ||
| FGIC | ||
| 5.00%, 2/15/23 | 3,220 | 3,363,419 |
| Garza Cnty Pub Fac Corp. | ||
| 5.50%, 10/01/19 | 865 | 742,326 |
| Gulf Coast Waste Disp Auth (Anheuser-Busch Proj) AMT | ||
| Series 02 | ||
| 5.90%, 4/01/36 | 9,000 | 6,869,070 |
| Harris Cnty Toll Road Rev (Prerefunded) | ||
| FSA Series 02 | ||
| 5.125%, 8/15/32 | 7,500 | 8,486,775 |
| Hidalgo Cnty Hlth Svc (Mission Hosp Inc Proj) | ||
| Series 05 | ||
| 5.00%, 8/15/14 - 8/15/19 | 1,090 | 914,404 |
| Lewisville Combination Contract (Spl Assmt Cap Impt Dist No 2) | ||
| ACA Series 05 | ||
| 6.00%, 10/01/25 | 1,100 | 721,666 |
| Lower Colorado River Auth (Prerefunded) | ||
| AMBAC Series 03 | ||
| 5.25%, 5/15/25 | 125 | 144,474 |
| MBIA | ||
| 5.00%, 5/15/31 | 30 | 34,431 |
| MBIA Series 02A | ||
| 5.00%, 5/15/31 | 10 | 11,477 |
| Lower Colorado River Auth (Unrefunded) | ||
| AMBAC Series 03 | ||
| 5.25%, 5/15/25 | 1,675 | 1,656,809 |
| MBIA | ||
| 5.00%, 5/15/31 | 1,460 | 1,290,144 |
| Matagorda Cnty Rev (Centerpoint Energy Houston Elec LLC) | ||
| Series 04 | ||
| 5.60%, 3/01/27 (d)(e) | 2,000 | 1,590,320 |
| Richardson Hosp Auth (Richardson Regl Med Ctr) | ||
| FSA Series 04 | ||
| 5.875%, 12/01/24 | 3,465 | 2,629,311 |
| Series 04 | ||
| 6.00%, 12/01/19 | 2,745 | 2,265,147 |
| San Antonio Arpt Rev AMT | ||
|---|---|---|
| FGIC Series 02A | ||
| 5.25%, 7/01/27 | 5,250 | 4,332,090 |
| Seguin Hgr Ed Auth (Texas Lutheran Univ Proj) | ||
| Series 04 | ||
| 5.25%, 9/01/28 - 9/01/33 | 2,250 | 1,579,587 |
| Texas | ||
| Series 05 | ||
| 5.00%, 4/01/28 | 8,000 | 8,033,120 |
| Texas AMT | ||
| Series 02A | ||
| 5.50%, 8/01/41 | 9,470 | 7,857,070 |
| Texas Transp Commission | ||
| Series 07 | ||
| 5.00%, 4/01/23 (a) | 20,600 | 21,712,812 |
| Univ of Texas | ||
| Series 08A | ||
| 5.25%, 8/15/22 | 6,825 | 7,495,420 |
| 109,307,093 | ||
| Utah - 0.4% | ||
| Utah Hsg Corp MFHR (Bluffs Apts Proj) AMT | ||
| GNMA Series 02A | ||
| 5.60%, 7/20/30 | 1,480 | 1,354,378 |
| Virginia - 1.8% | ||
| Fauquier Cnty IDA (Fauquier Hosp) | ||
| RADIAN Series 02 | ||
| 5.25%, 10/01/31 | 8,500 | 6,057,525 |
| Washington - 3.5% | ||
| King Cnty Swr Rev | ||
| FSA Series 02A | ||
| 5.25%, 1/01/32 | 3,000 | 3,012,690 |
| Twenty-Fifth Ave Ppty (Univ of Washington) | ||
| MBIA Series 02 | ||
| 5.25%, 6/01/33 | 9,750 | 8,607,983 |
| 11,620,673 | ||
| Wisconsin - 6.6% | ||
| Wisconsin | ||
| Series 03 | ||
| 5.00%, 11/01/26 | 3,700 | 3,470,563 |
| Wisconsin HEFA (Bell Tower Residence Proj) | ||
| FHLB Series 05 | ||
| 5.00%, 7/01/25 | 1,000 | 908,460 |
| Series 05 | ||
| 5.00%, 7/01/20 | 1,785 | 1,752,977 |
| Wisconsin HEFA (Ministry Hlth Care) | |||
|---|---|---|---|
| MBIA Series 02A | |||
| 5.25%, 2/15/32 (b) | 13,615 | 10,623,240 | |
| Wisconsin Hsg & EDA SFMR (Mtg Rev) AMT | |||
| MBIA Series A | |||
| 5.60%, 5/01/33 | 4,870 | 4,302,499 | |
| Series 02A | |||
| 5.50%, 9/01/32 | 1,130 | 1,134,678 | |
| 22,192,417 | |||
| Total Long-Term Municipal Bonds (cost $678,431,467) | 610,328,544 | ||
| Short-Term Municipal Notes - 1.9% | |||
| Alaska - 0.2% | |||
| Valdez Ak Frn Dd | |||
| 0.30%, 12/01/33 (f) | 600 | 600,000 | |
| Colorado - 0.6% | |||
| Colorado Ed & Cultural Fac Auth (Natl Jewish Fed Bd Prog) | |||
| Series A-13 | |||
| 0.40%, 5/01/38 (f) | 1,100 | 1,100,000 | |
| Colorado Ed & Cultural Fac Auth (Natl Jewish Fed Bd Prog) | |||
| 0.65%, 9/01/33 (f) | 600 | 600,000 | |
| Colorado Ed & Cultural Fac Auth (YMCA of the Rockies) | |||
| Series 2008 | |||
| 0.40%, 10/01/38 (f) | 300 | 300,000 | |
| 2,000,000 | |||
| Florida - 0.3% | |||
| Pinellas Cnty Hlth Fac Auth (Bayfront Hosp) | |||
| Series 2006A | |||
| 0.47%, 7/01/36 (f) | 1,000 | 1,000,000 | |
| New Jersey - 0.0% | |||
| Camden Cnty Impr Auth (Harvest Village Proj) | |||
| Series 1999 | |||
| 0.35%, 7/01/29 (f) | 195 | 195,000 | |
| New York - 0.8% | |||
| New York City Muni Wtr Fin Auth | |||
| 1.00%, 6/15/32 (f) | 2,600 | 2,600,000 | |
| Total Short-Term Municipal Notes (cost $6,395,000) | 6,395,000 | ||
| Total Investments - 183.8% (cost $684,826,467) (g) | 616,723,544 | ||
| Other assets less liabilities - (11.6)% | (38,859,867 | ) | |
| Preferred Stock at redemption value - (72.2)% | (242,225,000 | ) | |
| Net Assets Applicable to Common Shareholders - 100.0% (h) | $ | 335,638,677 |
INTEREST RATE SWAP TRANSACTIONS
| Swap Counterparty | Notional Amount (000) | Termination Date | Rate Type — Payments made by the Portfolio | Payments received by the Portfolio | Unrealized Appreciation/ (Depreciation) | ||
|---|---|---|---|---|---|---|---|
| Goldman Sachs | $ 47,500 | 12/15/11 | 1.828 % | SIFMA | * | $ 178,922 | |
| JP Morgan Chase | 47,500 | 9/18/10 | 2.080 % | SIFMA | * | (567,255 | ) |
| JP Morgan Chase | 47,500 | 11/20/10 | 1.855 % | SIFMA | * | (501,238 | ) |
| Merrill Lynch | 3,000 | 7/30/26 | 4.090 % | SIFMA | * | (342,127 | ) |
| Merrill Lynch | 6,500 | 8/09/26 | 4.063 % | SIFMA | * | (759,194 | ) |
| Merrill Lynch | 7,100 | 11/15/26 | 4.377 % | SIFMA | * | (1,137,809 | ) |
(a) Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Fund.
(b) Position, or portion thereof, has been segregated to collateralize tender option bonds.
(c) Position, or a portion thereof, has been segregated to collateralize interest rate swaps.
(d) Variable rate coupon, rate shown as of January 31, 2009.
(e) Indicates a security that has a zero coupon that remains in effect until a predetermined date at which time the stated coupon rate becomes effective until final maturity.
(f) Variable Rate Demand Notes (VRDN) are instruments whose interest rates change on a specific date (such as coupon date or interest payment date) or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). This instrument is payable on demand and is secured by letters of credit or other credit support agreements from major banks.
(g) As of January 31, 2009, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $14,205,172 and gross unrealized depreciation of investments was $82,308,095, resulting in net unrealized depreciation of $68,102,923.
(h) Portfolio percentages are calculated based on net assets applicable to common shareholders.
As of January 31, 2009, the Portfolio held 89% of net assets in insured bonds (of this amount 20% represents the Portfolios holding in pre-refunded insured bonds). 27% of the Portfolios insured bonds were insured by MBIA.
Glossary:
ACA - ACA Capital
AMBAC - American Bond Assurance Corporation
AMT - Alternative Minimum Tax (subject to)
ASSURED GTY - Assured Guaranty
CDD - Community Development District
CFD - Community Facilities District
COP - Certificate of Participation
EDA - Economic Development Agency
FGIC - Financial Guaranty Insurance Company
FHLB - Federal Home Loan Bank
FNMA - Federal National Mortgage Association
FSA - Financial Security Assurance Inc.
GNMA - Government National Mortgage Association
HEFA - Health & Education Facility Authority
HFA - Housing Finance Authority
HFC - Housing Finance Corporation
IDA - Industrial Development Authority/Agency
IDR - Industrial Development Revenue
MBIA - Municipal Bond Investors Assurance
MFHR - Multi-Family Housing Revenue
PCR - Pollution Control Revenue Bond
RADIAN - Radian Group, Inc.
SFMR - Single Family Mortgage Revenue
SWFR - Solid Waste Facility Revenue
XLCA - XL Capital Assurance Inc.
FINANCIAL ACCOUNTING STANDARDS NO. 157
The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (FAS 157), effective November 1, 2008. In accordance with FAS 157, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. FAS 157 also establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Funds own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.
Level 1quoted prices in active markets for identical investments
Level 2other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
Level 3significant unobservable inputs (including the Funds own assumptions in determining the fair value of investments)
The following table summarizes the valuation of the Funds investments by the above fair value hierarchy levels as of January 31, 2009:
| Level — Level 1 | Investments in Securities — $ 0 | | Other Financial Instruments* — $ 0 | |
|---|---|---|---|---|
| Level 2 | 616,723,544 | 0 | | |
| Level 3 | 0 | | (3,128,701 | ) |
| Total | $ 616,723,544 | $ (3,128,701 | ) |
Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:
| Balance as of 11/1/2008 | Investments In Securities — $ 0 | | Other Financial Instruments — $ (840,937 | ) |
|---|---|---|---|---|
| Accrued discounts /premiums | 0 | | 0 | |
| Realized gain (loss) | 0 | | 0 | * |
| Change in unrealized appreciation/depreciation | 0 | | (2,287,764 | ) |
| Net purchases (sales) | 0 | | 0 | |
| Net transfers in and/or out of Level 3 | 0 | | 0 | |
| Balance as of 1/31/09 | $ 0 | | $ (3,128,701 | ) |
| Net change in unrealized appreciation/depreciation from Investments still held as of | ||||
| 01/31/2009 | $ 0 | | $ (2,287,764 | ) |
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrants principal executive officer and principal financial officer have concluded that the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.
(b) There were no changes in the registrants internal controls over financial reporting that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
ITEM 3. EXHIBITS.
The following exhibits are attached to this Form N-Q:
| EXHIBIT NO. | DESCRIPTION OF EXHIBIT |
|---|---|
| 3 (a) (1) | Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
| 3 (a) (2) | Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant): AllianceBernstein National Municipal Income Fund, Inc.
| By: | /s/ Robert M. Keith |
|---|---|
| Robert M. Keith | |
| President | |
| Date: | March 27, 2009 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: | /s/ Robert M. Keith |
|---|---|
| Robert M. Keith | |
| President | |
| Date: | March 27, 2009 |
| By: | /s/ Joseph J. Mantineo |
| Joseph J. Mantineo | |
| Treasurer and Chief Financial Officer | |
| Date: | March 27, 2009 |
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