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AFB

AllianceBernstein National Municipal Income Fund
AFB

80 hedge funds and large institutions have $141M invested in AllianceBernstein National Municipal Income Fund in 2023 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 34 increasing their positions, 21 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

62% more repeat investments, than reductions

Existing positions increased: 34 | Existing positions reduced: 21

2.5% more ownership

Funds ownership: 43.87% → 46.37% (+2.5%)

2% less funds holding

Funds holding: 82 → 80 (-2)

18% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 11

70% less capital invested

Capital invested by funds: $472M → $141M (-$331M)

Holders
80
Holders Change
-2
Holders Change %
-2.44%
% of All Funds
1.27%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
9
Increased
34
Reduced
21
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$2.47M
2
HWAM
Hennion & Walsh Asset Management
New Jersey
+$2.2M
3
Morgan Stanley
Morgan Stanley
New York
+$1.9M
4
LSC
Logan Stone Capital
Illinois
+$1M
5
Wells Fargo
Wells Fargo
California
+$863K

Top Sellers

Rank Fund Capital Flow
1
BPA
Beacon Pointe Advisors
California
-$1.01M
2
ACA
Ackerman Capital Advisors
Texas
-$608K
3
OFG
OTA Financial Group
New York
-$600K
4
UBS Group
UBS Group
Switzerland
-$585K
5
COLIM
City of London Investment Management
United Kingdom
-$463K
Name Holding Trade Value Shares
Change 		Change in
Stake
JWM
51
Jupiter Wealth Management
Colorado
$180K – – –
IAA
52
Ironsides Asset Advisors
North Carolina
$180K +$2.95K +274 +2%
LCM
53
Landscape Capital Management
New Jersey
$160K -$150K -13,970 -49%
DWM
54
Drive Wealth Management
Utah
$159K +$156K +14,550 New
PK
55
Pflug Koory
Nebraska
$147K – – –
RJFSA
56
Raymond James Financial Services Advisors
Florida
$142K -$6.15K -572 -4%
US Bancorp
57
US Bancorp
Minnesota
$140K – – –
RIG
58
Ramiah Investment Group
Wisconsin
$136K -$4.94K -459 -4%
SCA
59
SMH Capital Advisors
Texas
$130K -$1.55K -144 -1%
KPWS
60
Kestra Private Wealth Services
Texas
$126K – – –
TPWA
61
TRUE Private Wealth Advisors
Oregon
$120K – – –
KAS
62
Kestra Advisory Services
Texas
$117K -$14.6K -1,353 -11%
FAIM
63
Financial Advocates Investment Management
Washington
$111K +$109K +10,137 New
SPIA
64
Steward Partners Investment Advisory
New York
$107K – – –
AWM
65
Accel Wealth Management
Iowa
$60.8K -$27.6K -2,566 -32%
PNC Financial Services Group
66
PNC Financial Services Group
Pennsylvania
$53K +$19.8K +1,837 +61%
FPB
67
First PREMIER Bank
South Dakota
$51K – – –
AWM
68
Avior Wealth Management
Nebraska
$41.2K +$366 +34 +0.9%
Northwestern Mutual Wealth Management
69
Northwestern Mutual Wealth Management
Wisconsin
$39.5K – – –
MA
70
MCF Advisors
Kentucky
$34.1K +$301 +28 +0.9%
CFGS
71
Concourse Financial Group Securities
Alabama
$30.1K – – –
BWA
72
BDO Wealth Advisors
Florida
$22.2K +$21.8K +2,029 New
SS
73
Sunbelt Securities
Texas
$10.8K +$10.8K +1,000 New
LC
74
Lindbrook Capital
California
$7.98K +$7.84K +729 New
Commonwealth Equity Services
75
Commonwealth Equity Services
Massachusetts
$4.72K +$28.6K +2,655 +0.6%
1 2
3
4

AFB Hedge Fund Activity: Q1 2023 in Review

80 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q1 2023, worth a combined $141M — down 70% from $472M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of AFB and 9 opened new positions — a net loss of 2 holders — while 21 trimmed existing stakes and 34 added.

The largest buyer was Karpus Investment Management, adding an estimated $2.47M. The largest seller was Beacon Pointe Advisors, exiting entirely with an estimated $1.01M sold.

  • 80 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q1 2023, down from 82 in Q4 2022.
  • Funds reported $141M of AllianceBernstein National Municipal Income Fund stock for Q1 2023, down 70% quarter-over-quarter.
  • 9 funds opened new AllianceBernstein National Municipal Income Fund positions in Q1 2023 and 11 closed out, a net change of -2 holders.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q1 2023 was Karpus Investment Management, an estimated $2.47M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q1 2023 was Beacon Pointe Advisors, an estimated $1.01M sold.

Based on aggregated 13F filings for Q1 2023.