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AFB

AllianceBernstein National Municipal Income Fund
AFB

55 hedge funds and large institutions have $61.5M invested in AllianceBernstein National Municipal Income Fund in 2017 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 22 increasing their positions, 17 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

29% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 17

4% more capital invested

Capital invested by funds: $59.3M → $61.5M (+$2.27M)

0.02% less ownership

Funds ownership: 15.35% → 15.33% (-0.02%)

4% less funds holding

Funds holding: 57 → 55 (-2)

33% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 6

Holders
55
Holders Change
-2
Holders Change %
-3.51%
% of All Funds
1.37%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
22
Reduced
17
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
William Blair & Company
William Blair & Company
Illinois
+$2.78M
2
PPA
Parametric Portfolio Associates
Washington
+$2.42M
3
CAG
Crestwood Advisors Group
Massachusetts
+$591K
4
GC
Guggenheim Capital
Illinois
+$569K
5
AAM
Advisors Asset Management
Colorado
+$504K

Top Sellers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
-$2.91M
2
RCM
Rivernorth Capital Management
Florida
-$2.02M
3
KIM
Karpus Investment Management
New York
-$1.12M
4
EDRIA
Edmonds Duncan Registered Investment Advisors
Kansas
-$439K
5
Millennium Management
Millennium Management
New York
-$232K
Name Holding Trade Value Shares
Change 		Change in
Stake
Royal Bank of Canada
26
Royal Bank of Canada
Ontario, Canada
$433K +$613 +44 +0.1%
DA
27
Doliver Advisors
Texas
$388K -$96.7K -6,937 -20%
HighTower Advisors
28
HighTower Advisors
Illinois
$355K +$12.6K +902 +4%
Northwestern Mutual Wealth Management
29
Northwestern Mutual Wealth Management
Wisconsin
$338K -$6.02K -432 -2%
RJA
30
Raymond James & Associates
Florida
$337K +$66K +4,735 +24%
PCP
31
Proficio Capital Partners
Massachusetts
$298K – – –
CRC
32
Curi RMB Capital
Illinois
$293K +$96K +6,892 +49%
Fifth Third Bancorp
33
Fifth Third Bancorp
Ohio
$293K +$125K +9,000 +75%
Ameriprise
34
Ameriprise
Minnesota
$278K +$2.44K +175 +0.9%
HCM
35
Hollencrest Capital Management
California
$248K – – –
Creative Planning
36
Creative Planning
Kansas
$234K +$21.1K +1,514 +10%
TJHA
37
Thomas J. Herzfeld Advisors
Florida
$216K -$100K -7,193 -32%
RJFSA
38
Raymond James Financial Services Advisors
Florida
$204K +$321 +23 +0.2%
WSFS
39
Wilmington Savings Fund Society
Delaware
$197K – – –
WS
40
Wedbush Securities
California
$181K -$97.7K -7,013 -35%
US Bancorp
41
US Bancorp
Minnesota
$179K – – –
MF
42
Magnetar Financial
Illinois
$175K +$12.6K +901 +8%
FI
43
FormulaFolio Investments
Michigan
$167K -$1.46K -105 -0.9%
OC
44
Oppenheimer & Co
New York
$147K -$105K -7,500 -42%
PAS
45
Park Avenue Securities
New York
$144K +$144K +10,362 New
AG
46
Advisor Group
Arizona
$129K -$58K -4,159 -31%
SA
47
SRH Advisors
Kansas
$112K – – –
SEI Investments
48
SEI Investments
Pennsylvania
$73K +$72.8K +5,221 New
KF
49
Krilogy Financial
Missouri
$42K – – –
Bank of Montreal
50
Bank of Montreal
Ontario, Canada
$41K – – –
1
2
3

AFB Hedge Fund Activity: Q3 2017 in Review

55 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q3 2017, worth a combined $61.5M — up 3.8% from $59.3M a quarter earlier.

Sellers outnumbered buyers: 6 funds closed out of AFB and 4 opened new positions — a net loss of 2 holders — while 17 trimmed existing stakes and 22 added.

The largest buyer was William Blair & Company, opening a new position worth an estimated $2.78M. The largest seller was Robinson Capital Management, cutting an estimated $2.91M.

  • 55 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q3 2017, down from 57 in Q2 2017.
  • Funds reported $61.5M of AllianceBernstein National Municipal Income Fund stock for Q3 2017, up 3.8% quarter-over-quarter.
  • 4 funds opened new AllianceBernstein National Municipal Income Fund positions in Q3 2017 and 6 closed out, a net change of -2 holders.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q3 2017 was William Blair & Company, an estimated $2.78M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q3 2017 was Robinson Capital Management, an estimated $2.91M sold.

Based on aggregated 13F filings for Q3 2017.