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AFB

AllianceBernstein National Municipal Income Fund
AFB

40 hedge funds and large institutions have $28.1M invested in AllianceBernstein National Municipal Income Fund in 2015 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 14 increasing their positions, 7 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 7

11% more capital invested

Capital invested by funds: $25.4M → $28.1M (+$2.71M)

0.73% more ownership

Funds ownership: 6.41% → 7.13% (+0.73%)

2% less funds holding

Funds holding: 41 → 40 (-1)

14% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 7

Holders
40
Holders Change
-1
Holders Change %
-2.44%
% of All Funds
1.07%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.03%
New
6
Increased
14
Reduced
7
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LSA
Liberty Street Advisors
New York
+$1.8M
2
GC
Guggenheim Capital
Illinois
+$845K
3
DA
Doliver Advisors
Texas
+$687K
4
UBS Group
UBS Group
Switzerland
+$574K
5
NCM
Newgate Capital Management
Connecticut
+$502K

Top Sellers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
-$1.81M
2
Morgan Stanley
Morgan Stanley
New York
-$332K
3
Deutsche Bank
Deutsche Bank
Germany
-$283K
4
LCM
Laurion Capital Management
New York
-$250K
5
VKH
Virtu KCG Holdings
New York
-$249K
Name Holding Trade Value Shares
Change 		Change in
Stake
OC
26
Oppenheimer & Co
New York
$197K +$199K +14,400 New
WSFS
27
Wilmington Savings Fund Society
Delaware
$193K – – –
SWP
28
Stratos Wealth Partners
Ohio
$175K – – –
LCM
29
Landscape Capital Management
New Jersey
$169K +$171K +12,351 New
B
30
Baird
Wisconsin
$160K +$162K +11,680 New
BFEC
31
Benjamin F. Edwards & Company
Missouri
$158K +$2.29K +165 +1%
AIG
32
American International Group
New York
$144K +$44.8K +3,234 +44%
YP
33
Yellowstone Partners
Idaho
$144K – – –
US Bancorp
34
US Bancorp
Minnesota
$114K – – –
MFS
35
MSI Financial Services
Massachusetts
$106K – – –
WTC
36
WhitTier Trust Company
Nevada
$53K – – –
MA
37
MCF Advisors
Kentucky
$30K +$457 +33 +2%
CAPTRUST Financial Advisors
38
CAPTRUST Financial Advisors
North Carolina
$12.5K – – –
PCTC
39
Perkins Coie Trust Company
Washington
$11K – – –
Creative Planning
40
Creative Planning
Kansas
$5K -$13.8K -1,000 -73%
Deutsche Bank
41
Deutsche Bank
Germany
– -$283K -20,560 Closed
LCM
42
Laurion Capital Management
New York
– -$250K -18,158 Closed
VKH
43
Virtu KCG Holdings
New York
– -$249K -18,094 Closed
SG Americas Securities
44
SG Americas Securities
New York
– -$220K -15,979 Closed
NPC
45
National Planning Corporation
California
– -$80.8K -5,805 Closed
GI
46
Gradient Investments
Minnesota
– -$48K -3,500 Closed
WA
47
WFG Advisors
Texas
– -$23K -1,654 Closed
1
2

AFB Hedge Fund Activity: Q1 2015 in Review

40 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q1 2015, worth a combined $28.1M — up 11% from $25.4M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of AFB and 6 opened new positions — a net loss of 1 holder — while 7 trimmed existing stakes and 14 added.

The largest buyer was Liberty Street Advisors, opening a new position worth an estimated $1.8M. The largest seller was Invesco, cutting an estimated $1.81M.

  • 40 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q1 2015, down from 41 in Q4 2014.
  • Funds reported $28.1M of AllianceBernstein National Municipal Income Fund stock for Q1 2015, up 11% quarter-over-quarter.
  • 6 funds opened new AllianceBernstein National Municipal Income Fund positions in Q1 2015 and 7 closed out, a net change of -1 holder.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q1 2015 was Liberty Street Advisors, an estimated $1.8M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q1 2015 was Invesco, an estimated $1.81M sold.

Based on aggregated 13F filings for Q1 2015.