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AFB

AllianceBernstein National Municipal Income Fund
AFB

63 hedge funds and large institutions have $117M invested in AllianceBernstein National Municipal Income Fund in 2019 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 30 increasing their positions, 15 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more repeat investments, than reductions

Existing positions increased: 30 | Existing positions reduced: 15

13% more capital invested

Capital invested by funds: $103M → $117M (+$13.9M)

1.99% more ownership

Funds ownership: 29.54% → 31.54% (+2%)

3% less funds holding

Funds holding: 65 → 63 (-2)

33% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 6

Holders
63
Holders Change
-2
Holders Change %
-3.08%
% of All Funds
1.36%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
30
Reduced
15
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PPA
Parametric Portfolio Associates
Washington
+$3.5M
2
JP Morgan Chase
JP Morgan Chase
New York
+$2.94M
3
1CP
1607 Capital Partners
Virginia
+$1.3M
4
ACA
Ackerman Capital Advisors
Texas
+$946K
5
CIA
Capital Investment Advisors
Georgia
+$693K

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$1.96M
2
CRC
Curi RMB Capital
Illinois
-$753K
3
GC
Guggenheim Capital
Illinois
-$531K
4
Wells Fargo
Wells Fargo
California
-$488K
5
AA
AQR Arbitrage
Connecticut
-$468K
Name Holding Trade Value Shares
Change 		Change in
Stake
UBS Group
26
UBS Group
Switzerland
$567K +$74.9K +5,912 +16%
Royal Bank of Canada
27
Royal Bank of Canada
Ontario, Canada
$544K +$5.5K +434 +1%
HighTower Advisors
28
HighTower Advisors
Illinois
$521K +$190K +15,030 +60%
AA
29
AQR Arbitrage
Connecticut
$457K -$468K -36,955 -51%
Stifel Financial
30
Stifel Financial
Missouri
$442K +$114K +8,976 +36%
HWA
31
HCR Wealth Advisors
California
$431K +$3.7K +292 New
Bank of America
32
Bank of America
North Carolina
$420K +$74K +5,839 +22%
RJFSA
33
Raymond James Financial Services Advisors
Florida
$409K +$190K +15,013 +91%
LPL Financial
34
LPL Financial
California
$406K -$14.8K -1,165 -4%
CBFP
35
Cedar Brook Financial Partners
Ohio
$378K +$1.69K +133 +0.5%
6M
36
6 Meridian
Kansas
$376K +$48.3K +3,810 +15%
TCM
37
Tradewinds Capital Management
Washington
$350K – – –
PAS
38
Park Avenue Securities
New York
$347K +$17K +1,339 +5%
RJA
39
Raymond James & Associates
Florida
$340K -$11.2K -881 -3%
LTFS
40
Ladenburg Thalmann Financial Services
Florida
$327K +$13.6K +1,076 +4%
OC
41
Oppenheimer & Co
New York
$291K +$34.9K +2,750 +14%
DWM
42
Dakota Wealth Management
Florida
$288K – – –
MIG
43
Mariner Investment Group
New York
$259K – – –
WS
44
Wedbush Securities
California
$258K +$38 +3 +0%
Envestnet Asset Management
45
Envestnet Asset Management
Illinois
$247K +$37.7K +2,978 +18%
RJT
46
Raymond James Trust
Florida
$187K +$49.5K +3,909 +37%
WSFS
47
Wilmington Savings Fund Society
Delaware
$183K – – –
Creative Planning
48
Creative Planning
Kansas
$181K – – –
PK
49
Pflug Koory
Nebraska
$174K – – –
US Bancorp
50
US Bancorp
Minnesota
$166K – – –
1
2
3

AFB Hedge Fund Activity: Q1 2019 in Review

63 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q1 2019, worth a combined $117M — up 13% from $103M a quarter earlier.

Sellers outnumbered buyers: 6 funds closed out of AFB and 4 opened new positions — a net loss of 2 holders — while 15 trimmed existing stakes and 30 added.

The largest buyer was Parametric Portfolio Associates, adding an estimated $3.5M. The largest seller was Rivernorth Capital Management, cutting an estimated $1.96M.

  • 63 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q1 2019, down from 65 in Q4 2018.
  • Funds reported $117M of AllianceBernstein National Municipal Income Fund stock for Q1 2019, up 13% quarter-over-quarter.
  • 4 funds opened new AllianceBernstein National Municipal Income Fund positions in Q1 2019 and 6 closed out, a net change of -2 holders.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q1 2019 was Parametric Portfolio Associates, an estimated $3.5M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q1 2019 was Rivernorth Capital Management, an estimated $1.96M sold.

Based on aggregated 13F filings for Q1 2019.