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AFB

AllianceBernstein National Municipal Income Fund
AFB

65 hedge funds and large institutions have $103M invested in AllianceBernstein National Municipal Income Fund in 2018 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 22 increasing their positions, 19 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more first-time investments, than exits

New positions opened: 10 | Existing positions closed: 4

16% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 19

8% more funds holding

Funds holding: 60 → 65 (+5)

1.69% more ownership

Funds ownership: 27.85% → 29.54% (+1.7%)

4% more capital invested

Capital invested by funds: $99.2M → $103M (+$3.78M)

Holders
65
Holders Change
+5
Holders Change %
+8.33%
% of All Funds
1.45%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
10
Increased
22
Reduced
19
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
1CP
1607 Capital Partners
Virginia
+$4.21M
2
Wells Fargo
Wells Fargo
California
+$3.85M
3
RCM
Rivernorth Capital Management
Florida
+$2.86M
4
GWM
Greenwich Wealth Management
Connecticut
+$798K
5
WAM
Wolverine Asset Management
Illinois
+$744K

Top Sellers

Rank Fund Capital Flow
1
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
-$5.72M
2
KIM
Karpus Investment Management
New York
-$1.13M
3
RCM
Robinson Capital Management
Michigan
-$1.03M
4
William Blair & Company
William Blair & Company
Illinois
-$521K
5
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$513K
Name Holding Trade Value Shares
Change 		Change in
Stake
SBH
26
Segall Bryant & Hamill
Illinois
$566K – – –
Royal Bank of Canada
27
Royal Bank of Canada
Ontario, Canada
$504K -$147K -12,277 -23%
UBS Group
28
UBS Group
Switzerland
$459K -$376K -31,355 -45%
WAM
29
Weiss Asset Management
Massachusetts
$456K +$451K +37,580 New
LPL Financial
30
LPL Financial
California
$394K -$57.2K -4,768 -13%
CBFP
31
Cedar Brook Financial Partners
Ohio
$352K +$348K +29,030 New
RJA
32
Raymond James & Associates
Florida
$329K +$73.6K +6,143 +29%
TCM
33
Tradewinds Capital Management
Washington
$328K – – –
Bank of America
34
Bank of America
North Carolina
$323K +$24.5K +2,042 +8%
PAS
35
Park Avenue Securities
New York
$318K -$26K -2,169 -8%
6M
36
6 Meridian
Kansas
$306K -$181K -15,110 -37%
HighTower Advisors
37
HighTower Advisors
Illinois
$305K – – –
Stifel Financial
38
Stifel Financial
Missouri
$304K -$144K -11,984 -32%
LTFS
39
Ladenburg Thalmann Financial Services
Florida
$293K +$96.6K +8,054 +50%
DWM
40
Dakota Wealth Management
Florida
$271K – – –
MIG
41
Mariner Investment Group
New York
$243K +$240K +20,000 New
WS
42
Wedbush Securities
California
$242K +$12.2K +1,020 +5%
OC
43
Oppenheimer & Co
New York
$239K +$68.3K +5,700 +41%
RJFSA
44
Raymond James Financial Services Advisors
Florida
$201K +$50.8K +4,234 +34%
Envestnet Asset Management
45
Envestnet Asset Management
Illinois
$196K +$480 +40 +0.2%
WSFS
46
Wilmington Savings Fund Society
Delaware
$171K – – –
Creative Planning
47
Creative Planning
Kansas
$170K -$8.74K -729 -5%
PK
48
Pflug Koory
Nebraska
$163K – – –
AG
49
Advisor Group
Arizona
$160K – – –
US Bancorp
50
US Bancorp
Minnesota
$155K – – –
1
2
3

AFB Hedge Fund Activity: Q4 2018 in Review

65 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q4 2018, worth a combined $103M — up 3.8% from $99.2M a quarter earlier.

Buyers outnumbered sellers: 10 funds opened new AFB positions and 4 closed out — a net gain of 6 holders — while 22 added to existing stakes and 19 trimmed.

The largest buyer was 1607 Capital Partners, adding an estimated $4.21M. The largest seller was Fiera Capital (Canada), exiting entirely with an estimated $5.72M sold.

  • 65 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q4 2018, up from 60 in Q3 2018.
  • Funds reported $103M of AllianceBernstein National Municipal Income Fund stock for Q4 2018, up 3.8% quarter-over-quarter.
  • 10 funds opened new AllianceBernstein National Municipal Income Fund positions in Q4 2018 and 4 closed out, a net change of +6 holders.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q4 2018 was 1607 Capital Partners, an estimated $4.21M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q4 2018 was Fiera Capital (Canada), an estimated $5.72M sold.

Based on aggregated 13F filings for Q4 2018.