AllianceBernstein National Municipal Income Fund
AFB
75 hedge funds and large institutions have $136M invested in AllianceBernstein National Municipal Income Fund in 2023 Q3 according to their latest regulatory filings, with 7 funds opening new positions, 29 increasing their positions, 23 reducing their positions, and 12 closing their positions.
26% more repeat investments, than reductions
Existing positions increased: 29 | Existing positions reduced: 23
3.25% more ownership
Funds ownership: 47.38% → 50.64% (+3.3%)
6% less funds holding
Funds holding: 80 → 75 (-5)
7% less capital invested
Capital invested by funds: $146M → $136M (-$10.2M)
42% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 12
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$12.1M |
| 2 |
API
Advisor Partners II
Walnut Creek,
California
|
+$5.17M |
| 3 |
ITIM
Indiana Trust & Investment Management
Mishawaka,
Indiana
|
+$1.57M |
| 4 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
+$752K |
| 5 |
Wells Fargo
San Francisco,
California
|
+$689K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$8.35M |
| 2 |
Morgan Stanley
New York
|
-$1.47M |
| 3 |
MC
Moors & Cabot
Boston,
Massachusetts
|
-$429K |
| 4 |
COLIM
City of London Investment Management
London,
United Kingdom
|
-$368K |
| 5 |
KeyBank National Association
Cleveland,
Ohio
|
-$323K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
MC
76
Moors & Cabot
Boston,
Massachusetts
| – | -$429K | -40,000 | Closed |
|
|
COLIM
77
City of London Investment Management
London,
United Kingdom
| – | -$368K | -34,202 | Closed |
|
|
DWM
78
Drive Wealth Management
Lehi,
Utah
| – | -$139K | -12,948 | Closed |
|
|
IC
79
IEQ Capital
Foster City,
California
| – | -$137K | -12,741 | Closed |
|
80
MML Investors Services
Springfield,
Massachusetts
| – | -$123K | -11,507 | Closed |
|
|
FPB
81
First PREMIER Bank
Sioux Falls,
South Dakota
| – | -$50K | -4,700 | Closed |
|
|
OP
82
ORG Partners
Roanoke,
Indiana
| – | -$17K | -1,568 | Closed |
|
|
SS
83
Sunbelt Securities
Houston,
Texas
| – | -$10.7K | -1,000 | Closed |
|
84
Bessemer Group
Woodbridge,
New Jersey
| – | -$4K | -396 | Closed |
|
|
IA
85
IFP Advisors
Tampa,
Florida
| – | -$2.15K | -200 | Closed |
|
|
PTC
86
Private Trust Company
Cleveland,
Ohio
| – | -$1.56K | -145 | Closed |
|
|
TCA
87
Trifecta Capital Advisors
Northbrook,
Illinois
| – | -$419 | -39 | Closed |
|
AFB Hedge Fund Activity: Q3 2023 in Review
75 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q3 2023, worth a combined $136M — down 7% from $146M a quarter earlier.
Sellers outnumbered buyers: 12 funds closed out of AFB and 7 opened new positions — a net loss of 5 holders — while 23 trimmed existing stakes and 29 added.
The largest buyer was Saba Capital Management, adding an estimated $12.1M. The largest seller was Karpus Investment Management, cutting an estimated $8.35M.
- 75 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q3 2023, down from 80 in Q2 2023.
- Funds reported $136M of AllianceBernstein National Municipal Income Fund stock for Q3 2023, down 7% quarter-over-quarter.
- 7 funds opened new AllianceBernstein National Municipal Income Fund positions in Q3 2023 and 12 closed out, a net change of -5 holders.
- The largest AllianceBernstein National Municipal Income Fund buyer in Q3 2023 was Saba Capital Management, an estimated $12.1M added.
- The largest AllianceBernstein National Municipal Income Fund seller in Q3 2023 was Karpus Investment Management, an estimated $8.35M sold.
Based on aggregated 13F filings for Q3 2023.