AllianceBernstein National Municipal Income Fund
AFB
87 hedge funds and large institutions have $209M invested in AllianceBernstein National Municipal Income Fund in 2026 Q2 according to their latest regulatory filings, with 12 funds opening new positions, 22 increasing their positions, 35 reducing their positions, and 14 closing their positions.
5% more capital invested
Capital invested by funds: $199M → $209M (+$9.99M)
0.99% less ownership
Funds ownership: 64.69% → 63.7% (-0.99%)
5% less funds holding
Funds holding: 92 → 87 (-5)
14% less first-time investments, than exits
New positions opened: 12 | Existing positions closed: 14
37% less repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 35
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$11.6M |
| 2 |
Raymond James Financial
St Petersburg,
Florida
|
+$3.08M |
| 3 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$842K |
| 4 |
Morgan Stanley
New York
|
+$800K |
| 5 |
Invesco
Atlanta,
Georgia
|
+$502K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$4.91M |
| 2 |
RC
Rareview Capital
Las Vegas,
Nevada
|
-$2.78M |
| 3 |
Pathstone Holdings
Englewood,
New Jersey
|
-$2.28M |
| 4 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$1.63M |
| 5 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$1.59M |
AFB Hedge Fund Activity: Q2 2026 in Review
87 of the 8,305 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q2 2026, worth a combined $209M — up 5% from $199M a quarter earlier.
Sellers outnumbered buyers: 14 funds closed out of AFB and 12 opened new positions — a net loss of 2 holders — while 35 trimmed existing stakes and 22 added.
The largest buyer was Karpus Investment Management, adding an estimated $11.6M. The largest seller was Saba Capital Management, exiting entirely with an estimated $4.91M sold.
- 87 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q2 2026, down from 92 in Q1 2026.
- Funds reported $209M of AllianceBernstein National Municipal Income Fund stock for Q2 2026, up 5% quarter-over-quarter.
- 12 funds opened new AllianceBernstein National Municipal Income Fund positions in Q2 2026 and 14 closed out, a net change of -2 holders.
- The largest AllianceBernstein National Municipal Income Fund buyer in Q2 2026 was Karpus Investment Management, an estimated $11.6M added.
- The largest AllianceBernstein National Municipal Income Fund seller in Q2 2026 was Saba Capital Management, an estimated $4.91M sold.
Based on aggregated 13F filings for Q2 2026.