AB NATIONAL MUNICIPAL INCOME FUND

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)

 

Registrant’s telephone number, including area code: (800) 221-5672

 

Date of fiscal year end: October 31, 2007

 

Date of reporting period: July 31, 2007

ITEM 1. SCHEDULE OF INVESTMENTS.

Alliance National Municipal Income Fund

Portfolio of Investments

July 31, 2007 (unaudited)

 

     Principal
Amount
(000)		    U.S. $ Value

MUNICIPAL OBLIGATIONS - 164.1%

     

Long-Term Municipal Bonds - 164.1%

     

Alabama - 6.0%

     

Huntsville Hlth Care Auth (Huntsville Hosp Sys) (Prerefunded)

      

Series 02B

      

5.75%, 6/01/32

    $ 6,000    $ 6,522,540

Jefferson Cnty Ltd Oblig Sch Warrants

      

Series 04A

      

5.25%, 1/01/18 - 1/01/23

      3,100      3,251,343

Jefferson Cnty Swr Rev (Capital Improvement Warrants) (Prerefunded)

      

FGIC Series 02

      

5.00%, 2/01/41

      1,535      1,611,658

Jefferson Cnty Swr Rev (Prerefunded)

      

FGIC Series 99A

      

5.375%, 2/01/36

      2,905      3,000,458

Jefferson Cnty Wtr & Swr Rev (Prerefunded)

      

FGIC Series 02B

      

5.00%, 2/01/41

      2,465      2,590,395

Marshall Cnty Hlth Care Auth (Marshall Cnty Med Ctr)

      

Series 02A

      

5.75%, 1/01/32

      2,500      2,592,600

Series 02D

      

5.75%, 1/01/32

      3,000      3,103,920

Montgomery Spl Care Facs Fin Auth (Baptist Health)

      

Series 04C

      

5.125%, 11/15/24

      1,500      1,522,185

Montgomery Spl Care Facs Fin Auth (Baptist Health) (Prerefunded)

      

Series 04C

      

5.25%, 11/15/29

      1,810      1,949,243
         
        26,144,342
         

Alaska - 3.8%

     

Alaska Intl Arpt Rev

      

MBIA Series 03B

      

5.00%, 10/01/26

      2,000      2,057,500

Alaska Muni Bond Bank Auth

      

MBIA Series 04G

      

5.00%, 2/15/22

    1,585    1,646,672

Alaska Muni Bond Bank Auth (Prerefunded)

      

MBIA Series 03E

      

5.25%, 12/01/26

    3,000    3,166,440

Alaska Municipal Bond Bank Auth

      

MBIA Series 04G

      

5.00%, 2/15/24 (a)

    1,345    1,395,007

Anchorage Waste Wtr Rev

      

MBIA Series 04

      

5.125%, 5/01/29

    3,050    3,263,927

Four Dam Pool Alaska

      

Series 04

      

5.25%, 7/01/25

    2,195    2,256,306

Four Dam Pool Elec Rev

      

Series 04

      

5.00%, 7/01/24

    1,035    1,054,324

5.25%, 7/01/26

    1,385    1,415,512
       
      16,255,688
       

Arizona - 0.7%

     

Arizona Cap Facs Fin Corp Student Hsg Rev (Arizona St Univ Proj)

      

Series 00

      

6.25%, 9/01/32

    1,550    1,612,481

Phoenix Civic Impt Corp Waste Wtr Sys Rev

      

MBIA Series 04

      

5.00%, 7/01/23

    1,250    1,304,062
       
      2,916,543
       

Arkansas - 0.8%

     

Arkansas Dev Fin Auth SFMR (Mtg Rev)

      

GNMA/ FNMA Series 02A

      

5.30%, 7/01/34

    3,500    3,552,150
       

California - 9.6%

     

Burbank Redev Agy

      

FGIC Series 03

      

5.625%, 12/01/28

    2,700    2,976,291

California GO

      

Series 04

      

5.00%, 2/01/33

    1,100    1,122,825

California St Dept of Wtr Res Pwr Sup Rev (Prerefunded)

      

Series 02A

      

5.375%, 5/01/22

    2,000    2,156,700

California State GO

      

5.00%, 2/01/32

    2,450    2,502,111

California State GO (Prerefunded)

      

5.25%, 4/01/30

    980    1,041,417

California State GO (Unrefunded)

      

5.25%, 4/01/30

    20    20,742

Chula Vista IDR (San Diego Gas)

      

Series 96A

      

5.30%, 7/01/21

    4,000    4,199,200

Coachella Valley Unified Sch Dist

      

MBIA Series 03

      

5.00%, 9/01/31

    1,000    1,027,900

Golden St Tobacco Securitization Corp. (Prerefunded)

      

RADIAN Series 03

      

5.50%, 6/01/43

    2,250    2,434,702

XLCA Series 03B

      

5.50%, 6/01/33

    3,000    3,246,270

Hartnell Comm College (Prerefunded)

      

MBIA Series 03A

      

5.00%, 8/01/27

    1,155    1,229,313

La Quinta Fin Auth Loc Agy

      

AMBAC Series 04A

      

5.25%, 9/01/24

    2,000    2,121,080

Los Angeles Comnty Redev Agy

      

Series 04L

      

5.00%, 3/01/18

    1,715    1,725,702

Los Angeles Regl Arpts (Laxfuel Corp) AMT

      

AMBAC Series 01

      

5.50%, 1/01/32

    9,500    9,825,945

Pomona COP

      

AMBAC Series 03

      

5.50%, 6/01/34

    3,000    3,246,450

San Rafael Elem Sch Dist

      

FSA Series 03A

      

5.00%, 8/01/28

    2,820    2,897,663
       
      41,774,311
       

Colorado - 5.2%

     

Avon Hsg Auth MFHR (Buffalo Ridge II Proj) AMT

      

GNMA Series 02A

      

5.70%, 10/20/43

    4,950    5,084,046

Colorado Ed & Cult Facs Auth (Knowledge Quest Charter Sch)

      

Series 05

      

6.50%, 5/01/36

    500    510,545

Colorado Hlth Facs Auth (Evangelical Lutheran Proj)

      

5.25%, 6/01/23

    1,725    1,783,978

Colorado Hlth Facs Auth (Evangelical Lutheran)

      

5.25%, 6/01/19

    700    726,488

Colorado Hlth Facs Auth (Parkview Med Ctr)

      

Series 04

      

5.00%, 9/01/25

    2,560    2,577,229

Colorado Toll Rev (Hwy E-470) (Prerefunded)

      

Series 00

      

Zero Coupon, 9/01/35

    10,000    1,347,700

Denver City & Cnty MFHR (Clyburn Stapleton Proj) AMT

      

GNMA Series 02

      

5.50%, 12/20/43

    2,155    2,187,045

Northwest Metro Dist No. 3 GO

      

6.125%, 12/01/25

    1,000    1,045,980

Park Creek Metro Dist Rev Ltd (Ref-Sr-Ltd Tax Ppty Tax)

      

Series 05

      

5.25%, 12/01/25

    3,000    3,089,010

5.50%, 12/01/30

    890    921,853

Todd Creek Farms Metro Dist No 1

      

6.125%, 12/01/22

    1,970    1,995,866

Todd Creek Farms Metro Dist No 1 Wtr Rev (Ref & Impt)

      

Series 04

      

6.125%, 12/01/19

    1,180    1,228,061
       
      22,497,801
       

District Of Columbia - 2.9%

     

District of Columbia Conv Ctr AMBAC

      

5.00%, 10/01/26

    8,500    8,815,690

District of Columbia Spl Tax Rev (Gallery Place Proj)

      

FSA Series 02

      

5.40%, 7/01/31

    3,500    3,663,940
       
      12,479,630
       

Florida - 16.7%

     

Beacon Tradeport CDD

      

Series 02B

      

7.25%, 5/01/33

    4,930    5,224,617

Brevard Cnty HFA SFMR (Mtg Rev) AMT

      

GNMA Series 02C

      

5.40%, 3/01/33

    760    767,463

Collier Cnty CFD (Fiddler’s Creek)

      

Series 02A

      

6.875%, 5/01/33

    2,910    3,036,556

Series 02B

      

6.625%, 5/01/33

    2,185    2,256,362

Dade Cnty Arpt Rev (Miami Int’l Arpt) AMT

      

FGIC Series 02

      

5.375%, 10/01/32

    6,040    6,244,092

Florida Ed & Athletic Fac (FSU Finl Assist)

      

AMBAC Series 02

      

5.00%, 10/01/31

    5,000    5,125,250

Florida Hsg Fin Corp MFHR (Westminster Apts) AMT

      

FSA Series 02E-1

      

5.40%, 4/01/42

    3,000    3,049,140

Florida Hsg Fin Corp Rev MFHR (Westlake Apts) AMT

      

FSA Series 02-D1

      

5.40%, 3/01/42

    8,780    8,914,597

Hamal CDD (Hamal) (Prerefunded)

      

Series 01

      

6.75%, 5/01/31

    2,460    2,725,877

Lee Cnty Arpt Rev (Southwest Fl Intl) AMT

      

FSA Series 00A

      

5.75%, 10/01/22 - 10/01/25

    9,500    9,968,605

Lee Cnty Hlth Facs Auth Rev (Shell Point) (Prerefunded)

      

Series 99A

      

5.50%, 11/15/29

    6,170    6,453,573

Miami Beach Hlth Facs Auth (Mount Sinai Med Ctr)

      

Series 04

      

6.75%, 11/15/24

    4,000    4,471,680

Miami-Dade Cnty Spl Oblig

      

MBIA Series 04B

      

5.00%, 4/01/24

    4,000    4,141,720

Midtown Miami CDD

      

Series 04A

      

6.00%, 5/01/24

    2,500    2,660,525

Miromar Lakes CDD

      

Series 00A

      

7.25%, 5/01/12

    1,325    1,374,104

Orange Cnty Hospital Rev (Orlando Regional) (Prerefunded)

      

Series 02

      

5.75%, 12/01/32

    2,800    3,051,076

Pinellas Cnty HFA SFMR (Mtg Rev) AMT

      

GNMA/ FNMA Series 02A

      

5.40%, 3/01/32

    770    779,602

Univ of Central Florida Athletics Association, Inc.

      

FGIC Series 04A

      

5.125%, 10/01/24

    1,325    1,380,902

Village CDD

      

Series 03A

      

6.00%, 5/01/22

    780    825,037
       
      72,450,778
       

Georgia - 1.5%

     

Cartersville Dev Auth AMT (Anheuser Busch Proj)

      

Series 02

      

5.95%, 2/01/32

    2,510    2,657,638

Georgia HFA SFMR (Mtg Rev) AMT

      

Series 02A-02

      

5.60%, 12/01/32

    3,955    4,052,214
       
      6,709,852
       

Hawaii - 1.1%

     

Hawaii State Dept of Budget & Fin Spl Purp Rev (Elec Co & Subsidiary Prog)

      

XLCA Series 03B

      

5.00%, 12/01/22

    4,500    4,602,060
       

Illinois - 18.6%

     

Bolingbrook Go (Prerefunded)

      

FGIC Series 02A

      

5.375%, 1/01/38

    5,000    5,300,200

Chicago Airport Rev (O’Hare Int’l Arpt)

      

XLCA Series 03B-1

      

5.25%, 1/01/34

    4,860    5,066,356

Chicago Arpt Rev (O’Hare Int’l Arpt) AMT

      

MBIA

      

5.375%, 1/01/32

    15,000    15,440,550

Chicago GO

      

FSA Series 04A

      

5.00%, 1/01/25

    2,165    2,239,238

Chicago GO (Prerefunded)

      

FGIC Series 00C

      

5.50%, 1/01/40

    9,135    9,640,714

Chicago GO (Unrefunded)

      

FGIC Series 00C

      

5.50%, 1/01/40

    5,450    5,700,972

Chicago Hsg Agy SFMR (Mortgage Rev) AMT

      

GNMA/ FNMA Series 02B

      

6.00%, 10/01/33 (b)

    545    556,216

Chicago IL Increment Allocation

      

7.46%, 2/15/26

    1,900    2,014,266

Chicago Park Dist GO (Ltd Tax)

      

AMBAC Series 04A

      

5.00%, 1/01/25

    2,585    2,695,250

Chicago Parking Rev (Lakefront Millenium) (Prerefunded)

      

MBIA Series 98

      

5.125%, 1/01/28

    8,600    8,922,758

Chicago Sales Tax Rev

      

FGIC Series 98

      

5.25%, 1/01/28

    5,710    5,878,502

Cook Cnty Sch Dist

      

FSA Series 04

      

5.00%, 12/01/20 (c)

    2,000    2,047,840

Gilberts Special Service Area No 15 Spl Tax (Gilberts Town Ctr Proj)

      

Series 03

      

6.00%, 3/01/28

    2,766    2,787,879

Hampshire IL Spl Svc Area 14

      

5.80%, 3/01/26

    1,845    1,855,037

Illinois Fin Auth (Loyola Univ Chicago)

      

XLCA Series 04A

      

5.00%, 7/01/24

    1,495    1,546,996

Illinois Fin Auth Rev (Illinois Inst of Technology)

      

Series 06A

      

5.00%, 4/01/31

    1,250    1,249,912

Manhattan (No 04-1 Brookstone Springs Proj)

      

Series 05

      

5.875%, 3/01/28

    1,875    1,912,725

Metropolitan Pier & Expo Auth (McCormick Place)

      

MBIA Series 02A

      

5.25%, 6/15/42

    5,500    5,727,590
       
      80,583,001
       

Indiana - 4.4%

     

Hendricks Cnty Bldg Facs Corp (First Mtg)

      

Series 04

      

5.50%, 7/15/22

    1,105    1,188,339

Hendricks Cnty Bldg Facs Corp.

      

Series 04

      

5.50%, 7/15/21

    1,045    1,124,796

Indiana Bd Bk Rev

      

FSA Series 04B

      

5.00%, 2/01/21

    1,100    1,141,965

Indiana Dev Fin Auth (Inland Steel)

      

Series 97

      

5.75%, 10/01/11

    2,925    2,970,074

Indiana HFA SFMR (Mtg Rev) AMT

      

GNMA/ FNMA Series 02

      

5.55%, 7/01/32

    1,990    2,024,885

Indianapolis Pub Impt Bond Bank (Prerefunded)

      

MBIA Series 2A

      

5.25%, 7/01/33

    10,000    10,620,700
       
      19,070,759
       

Iowa - 0.2%

     

Coralville Urban Rev Tax Incr

      

Series 07C

      

5.00%, 6/01/18

    260    266,271

Iowa Fin Auth SFMR (Mtg Rev) AMT

      

GNMA/ FNMA Series 02

      

5.40%, 7/01/32

    410    414,293
       
      680,564
       

Kansas - 0.3%

     

Lenexa KS Hlth Care Fac (Lakeview Village Inc.)

      

5.25%, 5/15/22

    1,395    1,405,504
       

Louisiana - 2.8%

     

Calcasieu Parish SFMR (Mtg Rev)

      

GNMA/ FNMA Series 02A

      

6.05%, 4/01/33 (b)

    350    365,582

Ernest N Morial-New Orleans (Exhibit Hall Auth Spl Tax)

      

AMBAC Series A

      

5.25%, 7/15/16 - 7/15/17

    4,020    4,249,350

Louisiana HFA SFMR (Mtg Rev) Amt

      

GNMA/ FNMA Series 02C

      

5.60%, 6/01/33 (b)

    1,200    1,206,552

New Orleans GO

      

MBIA

      

5.25%, 12/01/20

    1,000    1,061,530

MBIA Series 05

      

5.00%, 12/01/29

    2,700    2,781,378

New Orleans Ltd. Tax

      

MBIA

      

5.00%, 3/01/18

    2,285    2,390,430
       
      12,054,822
       

Massachusetts - 5.2%

     

Massachusetts Hlth & Ed Fac Hosp Rev (Berkshire Hlth Sys)

      

RADIAN Series 01E

      

5.70%, 10/01/25

    2,000    2,128,560

Massachusetts Hlth & Ed Fac Hosp Rev (Cape Cod Hlthcare)

RADIAN Series 01C

      

5.25%, 11/15/31

    2,100    2,175,453

Massachusetts Hlth & Ed Fac Hosp Rev (New England Med Ctr)

      

MBIA Series 94

      

7.375%, 7/01/18 (d)

    5,000    5,011,300

Massachusetts Hsg Fin Agy (Rental Rev)

      

AMBAC Series 95E

      

6.00%, 7/01/41

    1,740    1,819,483

Massachusetts Hsg Fin Agy MFHR (Rental Rev) AMT

      

MBIA Series 00H

      

6.65%, 7/01/41

    540    567,081

Massachusetts State GO (Prerefunded)

      

Series 02C

      

5.25%, 11/01/30

    10,000    10,624,300
       
      22,326,177
       

Michigan - 6.1%

     

Detroit Swr Disp

      

MBIA

      

5.25%, 7/01/22

    5,000    5,359,000

Detroit Tax Increment (Diamler/Chrysler Assembly Plant)

      

Series 98A

      

5.50%, 5/01/21

    1,605    1,604,390

Kent Hosp Fin Auth (Metropolitan Hospital Proj)

      

Series 05A

      

5.75%, 7/01/25

    1,080    1,130,188

Michigan Hosp Fin Auth (Trinity Health)

      

Series 00A

      

6.00%, 12/01/27

    3,000    3,192,000

Michigan Strategic Fund (Detroit Edison) AMT

      

XLCA Series 02C

      

5.45%, 12/15/32

    5,000    5,243,400

Plymouth Ed Ctr Charter Sch Pub Sch Academy Rev Ref

      

Series 05

      

5.125%, 11/01/23

    2,140    2,122,366

Saginaw Hosp Fin Auth (Covenant Med Ctr)

      

Series 00F

      

6.50%, 7/01/30

    7,185    7,666,180
       
      26,317,524
       

Minnesota - 0.5%

      

Shakopee Hlth Care Facs (St Francis Regl Med Center)

      

Series 04

      

5.10%, 9/01/25

    1,200    1,220,616

St. Paul Hsg & Redev Auth Hosp Rev (Healtheast Proj)

      

Series 05

      

6.00%, 11/15/25

    1,000    1,082,130
       
      2,302,746
       

Mississippi - 1.2%

      

Adams Cnty Poll Ctl Rev (International Paper Co) AMT

      

Series 99

      

6.25%, 9/01/23

    1,000    1,038,750

Gulfport Hosp Fac Rev (Mem Hosp at Gulfport Proj)

      

Series 01A

      

5.75%, 7/01/31

    4,000    4,076,760
       
      5,115,510
       

Missouri - 0.4%

      

Missouri SFMR (Mortgage Rev) AMT

      

GNMA/ FNMA Series 02A-1

      

5.58%, 9/01/32 (b)

    1,200    1,239,120

Riverside IDA (Riverside Horizons Proj)

      

ACA Series 07A

      

5.00%, 5/01/27

    600    605,022
       
      1,844,142
       

Nevada - 11.6%

      

Carson City Hosp Rev (Carson-Tahoe Hosp Proj)

      

RADIAN Series 03A

      

5.00%, 9/01/23

    4,700    4,766,176

Clark Cnty Arpt Rev (Prerefunded)

      

FGIC Series 01B

      

5.25%, 7/01/34

    11,920    12,528,993

Nevada Dept Bus & Ind (Las Vegas Monorail Proj)

      

AMBAC Series 00

      

5.625%, 1/01/32

    11,720    12,335,651

Reno Cap Improvement Rev (Prerefunded)

      

FGIC Series 02

      

5.375%, 6/01/32

    4,710    5,017,045

Reno Cap Improvement Rev Unrefunded

      

FGIC Series 02

      

5.375%, 6/01/32

    2,790    2,935,471

Truckee Meadows Wtr Auth (Prerefunded)

      

FSA Series 01A

      

5.25%, 7/01/34

    12,000    12,613,080
       
      50,196,416
       

New Hampshire - 1.2%

      

New Hampshire Hlth & Ed Fac Hosp Rev (Covenant Med Ctr)

      

Series 02

      

6.125%, 7/01/31

    4,200    4,475,142

New Hampshire Hlth & Ed Facs (Covenant Hlth)

      

Series 04

      

5.375%, 7/01/24

    820    851,324
       
      5,326,466
       

New Jersey - 2.9%

      

Morris-Union Jointure Commn COP

      

RADIAN Series 04

      

5.00%, 5/01/24

    7,185    7,355,859

New Jersey Eco Dev Auth (Sch Facs Constr)

      

Series 05

      

5.25%, 3/01/25

    500    530,090

New Jersey St Ed Facs Auth (Prerefunded)

      

AMBAC Series 02A

      

5.25%, 9/01/21

    4,200    4,468,716
       
      12,354,665
       

New Mexico - 1.4%

      

Dona Ana Cnty Tax Rev

      

AMBAC Series 03

      

5.25%, 5/01/25

    500    524,435

Univ of New Mexico

      

FSA Series 04

      

5.00%, 1/01/24 - 7/01/24

    5,430    5,595,995
       
      6,120,430
       

New York - 1.4%

      

Erie Cnty IDA Sch Fac Rev (Buffalo Sch Dist Proj)

      

FSA

      

5.75%, 5/01/24

    810    888,999

New York City GO

      

Series 04G

      

5.00%, 12/01/23

    1,600    1,659,488

Series 04I

      

5.00%, 8/01/21

    3,300    3,426,126

New York State HFA (Eco Dev & Hsg)

      

FGIC Series 05A

      

5.00%, 9/15/25

    300    312,909
       
      6,287,522
       

North Carolina - 1.6%

      

Charlotte NC Arpt Rev

      

MBIA Series 04A

      

5.25%, 7/01/24

    2,895    3,063,142

North Carolina Eastern Municipal Pwr Agy Pwr Sys Rev

      

AMBAC Series 05A

      

5.25%, 1/01/20

    3,500    3,747,765
       
      6,810,907
       

North Dakota - 1.1%

      

North Dakota HFA SFMR (Mtg Rev) AMT

      

Series 02

      

5.65%, 1/01/34

    1,115    1,134,936

North Dakota Hsg Fin Agy SFMR (Mortgage Rev) AMT

      

Series 98E

      

5.25%, 1/01/30

    1,630    1,639,422

Ward Cnty ND Hlth Care Fac (Trinity Hlth)

      

5.125%, 7/01/18 - 7/01/20

    2,075    2,109,280
       
      4,883,638
       

Ohio - 4.0%

      

Cleveland Cuyahoga Port Auth

      

Series 01

      

7.35%, 12/01/31

    5,000    5,328,800

Cuyahoga Cnty Hosp Facs Rev (University Hosp Hlth)

      

Series 00

      

7.50%, 1/01/30

    2,400    2,601,672

Fairfield Cnty Hosp Rev (Fairfield Med Ctr Proj)

      

RADIAN Series 03

      

5.00%, 6/15/22 - 6/15/24

    5,210    5,293,752

Ohio Hsg Fin Agy MFHR (Mortgage Rev) AMT

      

GNMA Series 97

      

6.15%, 3/01/29

    2,295    2,327,337

Port Auth of Columbiana Cnty Swr (Apex Environmental LLC) AMT

      

Series 04A

      

7.125%, 8/01/25

    1,840    1,937,207
       
      17,488,768
       

Oregon - 1.1%

      

Forest Grove Rev (Ref & Campus Impt Pacific Proj A)

      

RADIAN Series 05A

      

5.00%, 5/01/28

    4,760    4,876,287
       

Pennsylvania - 4.8%

      

Alleghany Cnty IDA (Residential Reserves Inc Proj)

      

5.00%, 9/01/21

    500    501,210

Allegheny Cnty PA Hosp (West Pennsylvania Hlth Sys)

      

5.00%, 11/15/28

    4,800    4,472,256

Montgomery Cnty IDA (Whitemarsh Continuing Care Ret Comm)

      

6.00%, 2/01/21

    875    913,579

Pennsylvania Eco Dev Auth (30th St Station ) AMT

      

ACA Series 02

      

5.875%, 6/01/33

    4,100    4,336,611

Pennsylvania Trpk Transp Rev (Prerefunded)

      

AMBAC Series 01

      

5.00%, 7/15/41

    2,000    2,104,460

Philadelphia Auth IDR (Leadership Learning Partners)

      

Series 05A

      

5.25%, 7/01/24

    1,150    1,149,436

Philadelphia Gas Wks Rev

      

ASSURED GTY Series 04A-1

      

5.25%, 9/01/19 - 8/01/21

    3,045    3,214,943

Philadelphia Hosp Rev (Temple Univ Hosp)

      

Series 93A

      

6.625%, 11/15/23

    3,000    3,006,870

Wilkes-barre PA Fin Auth (Wilkes Univ Proj)

      

5.00%, 3/01/22

    990    1,008,068
       
      20,707,433
       

Puerto Rico - 1.4%

      

Puerto Rico Comwlth GO (Pub Impt)

      

5.25%, 7/01/23

    2,625    2,781,949

Series 01A

      

5.50%, 7/01/19

    1,705    1,869,055

Series 03A

      

5.25%, 7/01/23

    500    522,950

Puerto Rico Comwlth Govt Dev Bank (Sr Notes)

      

Series 06B

      

5.00%, 12/01/15

    1,000    1,049,220
       
      6,223,174
       

Rhode Island - 1.6%

      

Rhode Island Hlth & Ed Bldg Corp Rev (Times2 Academy)

      

Series 04

      

5.00%, 12/15/24

    5,845    5,902,047

Rhode Island Hlth & Ed Bldg Corp Rev (Univ of Rhode Island)

      

AMBAC Series 04A

      

5.50%, 9/15/24

    1,000    1,083,680
       
      6,985,727
       

South Carolina - 2.5%

      

Charleston Cnty Sch Dist

      

5.25%, 12/01/30

    2,000    2,094,600

Dorchester Cnty Sch Dist No 2 ASSURED GTY

      

5.00%, 12/01/29

    1,600    1,650,448

Newberry Investing In Childrens Ed (Newberry Cnty Sch Dist Proj)

      

ASSURED GTY Series 05

      

5.00%, 12/01/27

    5,450    5,606,687

Series 05

      

5.00%, 12/01/30

    550    555,187

Scago Edl Facs Corp For Sch RADIAN

      

5.00%, 12/01/21

    1,000    1,030,760
       
      10,937,682
       

Tennessee - 3.2%

      

Johnson City Hlth & Ed Facs Hosp Rev (First Mtg - MTN Sts Hlth)

      

Series 06A

      

5.50%, 7/01/31

    2,140    2,219,201

Sullivan Cnty Hlth Ed

      

5.00%, 9/01/22

    1,760    1,750,725

Sullivan Cnty Tenn Hlth Ed (Wellmont Health Sys Proj)

      

5.25%, 9/01/26

    725    731,743

Tenn Ed Loan Rev (Educational Funding of South) AMT

      

Series 97A

      

6.20%, 12/01/21

    8,985    9,028,847
       
      13,730,516
       

Texas - 23.0%

      

Bexar Cnty Hlth Fac Dev Corp Rev

      

5.00%, 7/01/27

    525    516,527

Bexar Cnty Hsg Fin Corp MFHR (Doral Club & Sutton House Apts)

      

MBIA Series 01A

      

5.55%, 10/01/36

    14,815    15,320,784

Burelson ISD GO

      

5.00%, 8/01/24 - 8/01/27

    6,210    6,484,949

Dallas Airport Rev (Fort Worth Intl Airport) AMT

      

MBIA Series 03A

      

5.25%, 11/01/25

    2,000    2,070,820

Dallas-Fort Worth Airport Rev (Int’l Airport)

      

FGIC Series 01

      

5.50%, 11/01/35

    6,500    6,725,290

Frisco TX GO

      

FGIC

      

5.00%, 2/15/23

    3,220    3,358,492

Garza Cnty Pub Fac Corp.

      

5.50%, 10/01/19

    865    915,326

Gulf Coast Waste Disp Auth (Anheuser-Busch Proj) AMT

      

Series 02

      

5.90%, 4/01/36

    9,000    9,469,800

Harris Cnty (Flood Ctl)

      

Series 03B

      

5.00%, 10/01/23

    4,000    4,136,800

Harris Cnty Toll Road Rev

      

FSA Series 02

      

5.125%, 8/15/32

    7,500    7,923,150

Hidalgo Cnty Hlth Svcs (Mission Hosp Inc Proj)

      

Series 05

      

5.00%, 8/15/14 - 8/15/19

    1,090    1,092,259

Houston (Northeast Wtr Purification Proj)

      

FGIC Series 02

      

5.125%, 3/01/32

    7,000    7,362,110

Lewisville Combination Contract (Spl Assmt Cap Impt Dist No 2)

      

ACA Series 05

      

6.00%, 10/01/25

    1,100    1,192,048

Lower Colorado River Auth (Prerefunded)

      

AMBAC Series 03

      

5.25%, 5/15/25

    125    133,521

MBIA Series 02A

      

5.00%, 5/15/31

    10    10,553

Lower Colorado River Auth (Unrefunded)

      

MBIA

      

5.00%, 5/15/31

    1,490    1,531,288

Lower Colorado River Authority (Unrefunded)

      

AMBAC Series 03

      

5.25%, 5/15/25

    1,675    1,765,249

Matagorda Cnty Rev (Centerpoint Energy Houston Electric LLC)

      

Series 04

      

5.60%, 3/01/27

    2,000    2,049,360

Mc Allen Wtr & Swr Rev

      

FSA

      

5.25%, 2/01/21 - 2/01/22

    3,215    3,411,028

Richardson Hosp Auth Rev (Richardson Regional Med Ctr)

      

FSA Series 04

      

5.875%, 12/01/24

    3,465    3,669,816

Series 04

      

6.00%, 12/01/19

    2,745    2,935,064

San Antonio Arpt Rev AMT

      

FGIC Series 02A

      

5.25%, 7/01/27

    5,250    5,402,933

Seguin High Ed Fac Rev (Texas Lutheran Univ Proj)

      

Series 04

      

5.25%, 9/01/33

    1,250    1,260,225

Seguin Higher Ed Auth (Texas Lutheran Univ Proj)

      

Series 04

      

5.25%, 9/01/28

    1,000    1,011,740

Texas State GO AMT

      

Series 02A

      

5.50%, 8/01/41

    9,470    9,932,515
       
      99,681,647
       

Utah - 1.2%

     

Davis Cnty Sales Tax Rev

      

AMBAC Series 03B

      

5.25%, 10/01/23

    2,005    2,109,441

Salt Lake City Wtr Rev

      

AMBAC Series 04

      

5.00%, 7/01/23

    1,500    1,555,785

Utah Hsg Corp MFHR (Bluffs Apts Proj) AMT

      

GNMA Series 02A

      

5.60%, 7/20/30

    1,480    1,534,286
       
      5,199,512
       

Virginia - 2.4%

     

Fauquier Cnty IDA Hosp Rev (Fauquier Hospital) Asset Gty

      

RADIAN Series 02

      

5.25%, 10/01/31

    8,500    8,780,925

Pocahontas Pkwy Assoc Toll Rd Rev (Cap Appreciation) Sr (Prerefunded)

      

Series 98B

      

Zero Coupon, 8/15/15

    2,250    1,489,455
       
      10,270,380
       

Washington - 3.4%

     

King Cnty Swr Rev

      

FSA Series 02A

      

5.25%, 1/01/32

    3,000    3,099,900

Seattle Hsg Auth Rev MFHR (Wisteria Ct Proj)

      

GNMA Series 03

      

5.20%, 10/20/28

    1,475    1,520,607

Twenty-Fifth Ave Pptys (University of Washington)

      

MBIA Series 02

      

5.25%, 6/01/33

    9,750    10,102,073
       
      14,722,580
       

Wisconsin - 6.3%

      

Wisconsin Hlth & Ed Fac Auth (Bell Tower Residence Proj)

      

FHLB Series 05

      

5.00%, 7/01/25

    1,000      1,003,850  

Series 05

      

5.00%, 7/01/20

    1,785      1,822,324  

Wisconsin Hlth & Ed Fac Hosp Rev (Ministry Hlth Care)

      

MBIA Series 02A

      

5.25%, 2/15/32

    13,615      14,157,286  

Wisconsin Hsg Auth SFMR (Mtg Rev) AMT

      

MBIA

      

5.60%, 5/01/33

    4,885      5,029,889  

Series 02A

      

5.50%, 9/01/32

    1,590      1,591,145  

Wisconsin State GO

      

Series 03

      

5.00%, 11/01/26

    3,700      3,767,229  
           
        27,371,723  
           

Total Investments - 164.1%

(cost $685,740,691)

         711,259,377  

Other assets less liabilities - 1.7%

         7,086,445  

Preferred Stock at redemption value - (65.8)%

         (285,000,000 )
           

Net Assets Applicable to Common Shareholders - 100.0% (e)

       $ 433,345,822  
           

INTEREST RATE SWAP TRANSACTIONS

 

               Rate Type        

Swap Counterparty

    Notional
Amount
(000)		    Termination
Date		    Payments
made by
the Portfolio		     Payments
received by
the Portfolio		     Unrealized
Appreciation/
(Depreciation)		  

Citigroup

    $ 900    6/01/12    BMA     3.628 %   $ (129 )

Citigroup

      9,200    11/10/26    3.884 %   BMA       307,077  

JP Morgan Chase

      25,600    11/10/11    BMA     3.482 %     (125,918 )

Merrill Lynch

      990    2/12/12    BMA     3.548 %     (2,845 )

Merrill Lynch

    $ 3,000    7/30/26    4.090 %   BMA     $ 21,734  

Merrill Lynch

      6,500    8/09/26    4.063 %   BMA       73,449  

Merrill Lynch

      7,100    11/15/26    4.378 %   BMA       (184,311 )

 

(a) Position, or a portion thereof, has been segregated to collateralize interest rate swaps.

 

(b) Variable rate coupon, rate shown as of July 31, 2007.

 

(c) 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.

 

(d) Inverse Floater Security - Security with variable or floating interest rate that moves in the opposite direction of short-term interest rates.

 

(e) Portfolio percentages are calculated based on net assets applicable to common shareholders.

Glossary:

 

ACA    -    American Capital Access Financial Guaranty Corporation
AMBAC    -    American Bond Assurance Corporation
AMT    -    Alternative Minimum Tax (subject to)
ASSURED GTY    -    Assured Guaranty
BMA    -    Bond Market Association
CDD    -    Community Development District
CFD    -    Community Facilities District
COP    -    Certificate of Participation
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
GO    -    General Obligation
HFA    -    Housing Finance Authority
IDA    -    Industrial Development Authority/Agency
IDR    -    Industrial Development Revenue
ISD    -    Independent School District
MBIA    -    Municipal Bond Investors Assurance
MFHR    -    Multi-Family Housing Revenue
MTN    -    Medium Term Note
RADIAN    -    Radian Group, Inc.
SFMR    -    Single Family Mortgage Revenue
XLCA    -    XL Capital Assurance Inc.

ITEM 2. CONTROLS AND PROCEDURES.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s 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 registrant’s internal controls over financial reporting that occurred during the second fiscal quarter of the period that has materially affected, or is reasonably likely to materially affect, the registrant’s 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/ Marc O. Mayer
 

Marc O. Mayer

President

Date: September 24, 2007

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/ Marc O. Mayer
 

Marc O. Mayer

President

Date: September 24, 2007

 

By:   /s/ Joseph J. Mantineo
 

Joseph J. Mantineo

Treasurer and Chief Financial Officer

Date: September 24, 2007