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AFB

AllianceBernstein National Municipal Income Fund
AFB

63 hedge funds and large institutions have $93.1M invested in AllianceBernstein National Municipal Income Fund in 2018 Q2 according to their latest regulatory filings, with 7 funds opening new positions, 24 increasing their positions, 15 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

60% more repeat investments, than reductions

Existing positions increased: 24 | Existing positions reduced: 15

40% more first-time investments, than exits

New positions opened: 7 | Existing positions closed: 5

15% more capital invested

Capital invested by funds: $80.8M → $93.1M (+$12.3M)

3.25% more ownership

Funds ownership: 22.42% → 25.66% (+3.2%)

2% more funds holding

Funds holding: 62 → 63 (+1)

Holders
63
Holders Change
+1
Holders Change %
+1.61%
% of All Funds
1.44%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.05%
New
7
Increased
24
Reduced
15
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Wells Fargo
Wells Fargo
California
+$6.65M
2
PPA
Parametric Portfolio Associates
Washington
+$2.47M
3
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$1.22M
4
GC
Guggenheim Capital
Illinois
+$768K
5
William Blair & Company
William Blair & Company
Illinois
+$627K

Top Sellers

Rank Fund Capital Flow
1
AAM
Advisors Asset Management
Colorado
-$988K
2
CAG
Crestwood Advisors Group
Massachusetts
-$530K
3
Millennium Management
Millennium Management
New York
-$336K
4
Morgan Stanley
Morgan Stanley
New York
-$182K
5
UBS Group
UBS Group
Switzerland
-$142K
Name Holding Trade Value Shares
Change 		Change in
Stake
JG
26
Jefferies Group
New York
$531K +$528K +42,072 New
LPL Financial
27
LPL Financial
California
$491K -$40.3K -3,213 -8%
6M
28
6 Meridian
Kansas
$484K +$33.6K +2,680 +8%
Stifel Financial
29
Stifel Financial
Missouri
$435K +$432K +34,418 New
TCM
30
Tradewinds Capital Management
Washington
$341K -$62.5K -4,979 -16%
PAS
31
Park Avenue Securities
New York
$323K +$57.4K +4,572 +22%
HighTower Advisors
32
HighTower Advisors
Illinois
$318K -$54.3K -4,324 -15%
Northwestern Mutual Wealth Management
33
Northwestern Mutual Wealth Management
Wisconsin
$306K – – –
Bank of America
34
Bank of America
North Carolina
$297K -$137K -10,873 -32%
AA
35
AQR Arbitrage
Connecticut
$293K – – –
RJA
36
Raymond James & Associates
Florida
$271K +$47.7K +3,800 +22%
Ameriprise
37
Ameriprise
Minnesota
$236K +$10.3K +821 +5%
WS
38
Wedbush Securities
California
$214K +$50 +4 +0%
DA
39
Doliver Advisors
Texas
$206K -$59.9K -4,773 -23%
Creative Planning
40
Creative Planning
Kansas
$191K – – –
HCM
41
Hollencrest Capital Management
California
$190K – – –
OC
42
Oppenheimer & Co
New York
$186K +$18.8K +1,500 +11%
RJFSA
43
Raymond James Financial Services Advisors
Florida
$184K +$6.48K +516 +4%
WSFS
44
Wilmington Savings Fund Society
Delaware
$178K – – –
AG
45
Advisor Group
Arizona
$172K – – –
PK
46
Pflug Koory
Nebraska
$169K – – –
LNWWM
47
Laird Norton Wetherby Wealth Management
California
$164K +$6.24K +497 +4%
US Bancorp
48
US Bancorp
Minnesota
$161K – – –
Citadel Advisors
49
Citadel Advisors
Florida
$154K +$153K +12,165 New
TJHA
50
Thomas J. Herzfeld Advisors
Florida
$133K – – –
1
2
3

AFB Hedge Fund Activity: Q2 2018 in Review

63 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q2 2018, worth a combined $93.1M — up 15% from $80.8M a quarter earlier.

Buyers outnumbered sellers: 7 funds opened new AFB positions and 5 closed out — a net gain of 2 holders — while 24 added to existing stakes and 15 trimmed.

The largest buyer was Wells Fargo, adding an estimated $6.65M. The largest seller was Advisors Asset Management, cutting an estimated $988K.

  • 63 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q2 2018, up from 62 in Q1 2018.
  • Funds reported $93.1M of AllianceBernstein National Municipal Income Fund stock for Q2 2018, up 15% quarter-over-quarter.
  • 7 funds opened new AllianceBernstein National Municipal Income Fund positions in Q2 2018 and 5 closed out, a net change of +2 holders.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q2 2018 was Wells Fargo, an estimated $6.65M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q2 2018 was Advisors Asset Management, an estimated $988K sold.

Based on aggregated 13F filings for Q2 2018.