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AFB

AllianceBernstein National Municipal Income Fund
AFB

57 hedge funds and large institutions have $57.2M invested in AllianceBernstein National Municipal Income Fund in 2017 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 16 increasing their positions, 15 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

38% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 8

11% more capital invested

Capital invested by funds: $51.7M → $57.2M (+$5.53M)

2% more funds holding

Funds holding: 56 → 57 (+1)

1.57% more ownership

Funds ownership: 13.59% → 15.16% (+1.6%)

7% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 15

Holders
57
Holders Change
+1
Holders Change %
+1.79%
% of All Funds
1.42%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
16
Reduced
15
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$3.99M
2
Ameriprise
Ameriprise
Minnesota
+$1.9M
3
RCM
Robinson Capital Management
Michigan
+$1.41M
4
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
+$1M
5
Wells Fargo
Wells Fargo
California
+$678K

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$2.66M
2
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
-$891K
3
Morgan Stanley
Morgan Stanley
New York
-$438K
4
UBS Group
UBS Group
Switzerland
-$337K
5
LCM
Landscape Capital Management
New Jersey
-$330K
Name Holding Trade Value Shares
Change 		Change in
Stake
DA
26
Doliver Advisors
Texas
$343K +$343K +25,663 New
SG Americas Securities
27
SG Americas Securities
New York
$337K +$337K +25,217 New
Northwestern Mutual Wealth Management
28
Northwestern Mutual Wealth Management
Wisconsin
$330K – – –
HighTower Advisors
29
HighTower Advisors
Illinois
$327K – – –
TJHA
30
Thomas J. Herzfeld Advisors
Florida
$303K +$93.4K +7,000 +45%
PCP
31
Proficio Capital Partners
Massachusetts
$293K +$34.4K +2,578 +14%
RJA
32
Raymond James & Associates
Florida
$270K +$10.5K +787 +4%
OC
33
Oppenheimer & Co
New York
$241K – – –
HCM
34
Hollencrest Capital Management
California
$237K – – –
WS
35
Wedbush Securities
California
$228K +$227K +17,026 New
FI
36
FormulaFolio Investments
Michigan
$217K -$62.1K -4,656 -22%
Creative Planning
37
Creative Planning
Kansas
$204K – – –
WSFS
38
Wilmington Savings Fund Society
Delaware
$189K – – –
CRC
39
Curi RMB Capital
Illinois
$189K +$189K +14,149 New
AG
40
Advisor Group
Arizona
$185K -$22.1K -1,659 -11%
RJFSA
41
Raymond James Financial Services Advisors
Florida
$180K -$8.68K -650 -5%
US Bancorp
42
US Bancorp
Minnesota
$171K – – –
LNWWM
43
Laird Norton Wetherby Wealth Management
California
$165K +$165K +12,341 New
Fifth Third Bancorp
44
Fifth Third Bancorp
Ohio
$161K +$160K +12,000 New
BFEC
45
Benjamin F. Edwards & Company
Missouri
$113K +$11.5K +860 +11%
SA
46
SRH Advisors
Kansas
$107K – – –
GWM
47
Geneos Wealth Management
Colorado
$94K – – –
GI
48
Gradient Investments
Minnesota
$41K – – –
DADC
49
D.A. Davidson & Co
Montana
$32K +$387 +29 +1%
MA
50
MCF Advisors
Kentucky
$32K +$387 +29 +1%
1
2
3

AFB Hedge Fund Activity: Q1 2017 in Review

57 of the 4,017 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q1 2017, worth a combined $57.2M — up 11% from $51.7M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new AFB positions and 8 closed out — a net gain of 3 holders — while 16 added to existing stakes and 15 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $3.99M. The largest seller was Rivernorth Capital Management, cutting an estimated $2.66M.

  • 57 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q1 2017, up from 56 in Q4 2016.
  • Funds reported $57.2M of AllianceBernstein National Municipal Income Fund stock for Q1 2017, up 11% quarter-over-quarter.
  • 11 funds opened new AllianceBernstein National Municipal Income Fund positions in Q1 2017 and 8 closed out, a net change of +3 holders.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q1 2017 was Karpus Investment Management, an estimated $3.99M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q1 2017 was Rivernorth Capital Management, an estimated $2.66M sold.

Based on aggregated 13F filings for Q1 2017.