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AFB

AllianceBernstein National Municipal Income Fund
AFB

59 hedge funds and large institutions have $125M invested in AllianceBernstein National Municipal Income Fund in 2019 Q3 according to their latest regulatory filings, with 2 funds opening new positions, 31 increasing their positions, 11 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

182% more repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 11

3% more capital invested

Capital invested by funds: $121M → $125M (+$3.58M)

0.95% more ownership

Funds ownership: 33.08% → 34.03% (+0.95%)

8% less funds holding

Funds holding: 64 → 59 (-5)

71% less first-time investments, than exits

New positions opened: 2 | Existing positions closed: 7

Holders
59
Holders Change
-5
Holders Change %
-7.81%
% of All Funds
1.29%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
2
Increased
31
Reduced
11
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$4M
2
1CP
1607 Capital Partners
Virginia
+$1.57M
3
PPA
Parametric Portfolio Associates
Washington
+$1,000K
4
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$603K
5
Invesco
Invesco
Georgia
+$552K

Top Sellers

Rank Fund Capital Flow
1
Wells Fargo
Wells Fargo
California
-$3.35M
2
WAM
Wolverine Asset Management
Illinois
-$591K
3
SCM
Saba Capital Management
New York
-$487K
4
AA
AQR Arbitrage
Connecticut
-$294K
5
MIG
Mariner Investment Group
New York
-$214K
Name Holding Trade Value Shares
Change 		Change in
Stake
SIA
26
Sit Investment Associates
Minnesota
$766K – – –
WAM
27
Wolverine Asset Management
Illinois
$743K -$591K -43,249 -45%
Royal Bank of Canada
28
Royal Bank of Canada
Ontario, Canada
$682K +$88.6K +6,482 +15%
Stifel Financial
29
Stifel Financial
Missouri
$666K +$64.9K +4,744 +11%
SBH
30
Segall Bryant & Hamill
Illinois
$642K – – –
PNC Financial Services Group
31
PNC Financial Services Group
Pennsylvania
$607K +$54.7K +4,000 +10%
ACP
32
Aviance Capital Partners
Florida
$501K +$497K +36,339 New
RJFSA
33
Raymond James Financial Services Advisors
Florida
$466K -$17.2K -1,260 -4%
PAS
34
Park Avenue Securities
New York
$459K +$52.4K +3,834 +13%
LPL Financial
35
LPL Financial
California
$431K +$5.39K +394 +1%
6M
36
6 Meridian
Kansas
$380K +$6.58K +481 +2%
LTFS
37
Ladenburg Thalmann Financial Services
Florida
$364K +$17.7K +1,296 +5%
Envestnet Asset Management
38
Envestnet Asset Management
Illinois
$349K +$23.6K +1,725 +7%
DWM
39
Dakota Wealth Management
Florida
$313K – – –
WS
40
Wedbush Securities
California
$264K +$13.7K +1,000 +6%
CBFP
41
Cedar Brook Financial Partners
Ohio
$234K -$157K -11,517 -40%
WSFS
42
Wilmington Savings Fund Society
Delaware
$194K – – –
Creative Planning
43
Creative Planning
Kansas
$193K – – –
PK
44
Pflug Koory
Nebraska
$185K – – –
CG
45
CFO4Life Group
Texas
$179K +$1.76K +129 +1%
AG
46
Advisor Group
Arizona
$178K +$20.6K +1,505 +13%
US Bancorp
47
US Bancorp
Minnesota
$176K – – –
TJHA
48
Thomas J. Herzfeld Advisors
Florida
$142K – – –
SA
49
SRH Advisors
Kansas
$110K – – –
QCIG
50
Quad-Cities Investment Group
Iowa
$88K +$875 +64 +1%
1
2
3

AFB Hedge Fund Activity: Q3 2019 in Review

59 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q3 2019, worth a combined $125M — up 2.9% from $121M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of AFB and 2 opened new positions — a net loss of 5 holders — while 11 trimmed existing stakes and 31 added.

The largest buyer was Rivernorth Capital Management, adding an estimated $4M. The largest seller was Wells Fargo, cutting an estimated $3.35M.

  • 59 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q3 2019, down from 64 in Q2 2019.
  • Funds reported $125M of AllianceBernstein National Municipal Income Fund stock for Q3 2019, up 2.9% quarter-over-quarter.
  • 2 funds opened new AllianceBernstein National Municipal Income Fund positions in Q3 2019 and 7 closed out, a net change of -5 holders.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q3 2019 was Rivernorth Capital Management, an estimated $4M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q3 2019 was Wells Fargo, an estimated $3.35M sold.

Based on aggregated 13F filings for Q3 2019.