AllianceBernstein National Municipal Income Fund
AFB
79 hedge funds and large institutions have $194M invested in AllianceBernstein National Municipal Income Fund in 2025 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 22 increasing their positions, 29 reducing their positions, and 7 closing their positions.
1.29% more ownership
Funds ownership: 60.59% → 61.89% (+1.3%)
2% more capital invested
Capital invested by funds: $190M → $194M (+$3.87M)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
0% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 7
2% less funds holding
Funds holding: 81 → 79 (-2)
24% less repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 29
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$5.99M |
| 2 |
Pathstone Holdings
Englewood,
New Jersey
|
+$2.8M |
| 3 |
BI
Bulldog Investors
Saddle Brook,
New Jersey
|
+$1.64M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$484K |
| 5 |
KeyBank National Association
Cleveland,
Ohio
|
+$293K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HWAM
Hennion & Walsh Asset Management
Parsippany,
New Jersey
|
-$2.34M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$1.17M |
| 3 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$760K |
| 4 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
-$665K |
| 5 |
Morgan Stanley
New York
|
-$612K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
MWM
76
Mascoma Wealth Management
Hanover,
New Hampshire
| $3.75K | – | – | – |
|
|
MA
77
Montag & Associates
Atlanta,
Georgia
| $3.5K | – | – | – |
|
|
GWSG
78
GPS Wealth Strategies Group
Centennial,
Colorado
| $1.81K | -$2.82K | -256 | -61% |
|
79
Comerica Bank
Dallas,
Texas
| $962 | -$176 | -16 | -15% |
|
|
NFG
80
Nations Financial Group
Cedar Rapids,
Iowa
| – | -$441K | -40,570 | Closed |
|
81
Nomura Holdings
Tokyo,
Japan
| – | -$185K | -17,000 | Closed |
|
|
IUHSA
82
Itau Unibanco Holding S.A.
Sao Paulo,
Brazil
| – | -$496K | -13,600 | Closed |
|
|
WAM
83
Wolverine Asset Management
Chicago,
Illinois
| – | -$76.5K | -7,039 | Closed |
|
|
CFGS
84
Concourse Financial Group Securities
Birmingham,
Alabama
| – | -$30.4K | -2,750 | Closed |
|
85
Bessemer Group
Woodbridge,
New Jersey
| – | -$10K | -886 | Closed |
|
|
CAS
86
Coppell Advisory Solutions
Coppell,
Texas
| – | -$1.47K | -136 | Closed |
|
AFB Hedge Fund Activity: Q1 2025 in Review
79 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q1 2025, worth a combined $194M — up 2% from $190M a quarter earlier.
Fund positioning in AFB was balanced in Q1 2025: 7 funds opened new positions, 7 closed out, 22 added to existing stakes and 29 trimmed.
The largest buyer was Karpus Investment Management, adding an estimated $5.99M. The largest seller was Hennion & Walsh Asset Management, cutting an estimated $2.34M.
- 79 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q1 2025, down from 81 in Q4 2024.
- Funds reported $194M of AllianceBernstein National Municipal Income Fund stock for Q1 2025, up 2% quarter-over-quarter.
- 7 funds opened new AllianceBernstein National Municipal Income Fund positions in Q1 2025 and 7 closed out, a net change of 0 holders.
- The largest AllianceBernstein National Municipal Income Fund buyer in Q1 2025 was Karpus Investment Management, an estimated $5.99M added.
- The largest AllianceBernstein National Municipal Income Fund seller in Q1 2025 was Hennion & Walsh Asset Management, an estimated $2.34M sold.
Based on aggregated 13F filings for Q1 2025.