Who Owns Alliance National Municipal Income Fund, Inc. (AFB)?Hedge Fund & Institutional Holders

$10.76+0.02 (+0.19%)TechnologyNYSE

Institutional Holders

50

as of Q4 2025

Total Institutional Value

$2.9865000112510014e+291T

% of Float Held

—

QoQ Change in Holders

+11 / -4

Price History

$9.89$10.40$10.91$11.43$11.94Sep 24Jun 25Mar 26

AFB — Biggest New Institutional Buyers This Quarter

FundActionShares AddedValue Added
KEYBANK NATIONAL ASSOCIATION/OHNew Position+931K+$10.1B
Hennion & Walsh Asset Management, Inc.New Position+610K+$6.6B
Fiera Capital CorpNew Position+268K+$2.0B
COMMONWEALTH EQUITY SERVICES, LLCNew Position+197K+$2.0B
GUGGENHEIM CAPITAL LLCIncreased+233K+$1.9B
Indiana Trust & Investment Management CoNew Position+152K+$1.6B
UBS Group AGIncreased+109K+$1.2B
BALYASNY ASSET MANAGEMENT L.P.New Position+94K+$1.0B
ROBINSON CAPITAL MANAGEMENT, LLCNew Position+84K+$913.0M
Capital Investment Advisors, LLCNew Position+71K+$772.0M
Logan Stone Capital, LLCIncreased+71K+$767.2M
Advisors Asset Management, Inc.Increased+121K+$714.1M
KENNEDY INVESTMENT GROUPNew Position+52K+$563.0M
MELFA WEALTH MANAGEMENT, INC.New Position+48K+$515.0M
Traub Capital Management LLCNew Position+47K+$506.0M

AFB — Institutions Reducing or Closing Positions

FundActionShares SoldValue Sold
Karpus Management, Inc.Closed Position-1.3M-$13.9B
Saba Capital Management, L.P.Decreased-321K-$3.6B
AMERIPRISE FINANCIAL INCDecreased-244K-$3.1B
LPL Financial LLCDecreased-714-$1.1B
Dakota Wealth ManagementDecreased-600-$724.4M
Creative PlanningDecreased-7K-$651.9M
STIFEL FINANCIAL CORPDecreased-8K-$438.6M
HUB Investment Partners, LLCClosed Position-24K-$264.4M
1607 Capital Partners, LLCDecreased-15K-$164.3M
OSAIC HOLDINGS, INC.Decreased-76-$132.9M
CHOREO, LLCDecreased-401-$122.3M
PNC FINANCIAL SERVICES GROUP, INC.Closed Position-6K-$65.3M
Steward Partners Investment Advisory, LLCDecreased-2K-$56.1M
ProVise Management Group, LLCDecreased-1K-$14.9M
Creekmur Asset Management LLCClosed Position-1K-$13.7M

Top Institutional Holders(Q4 2025)

#FundSharesValue% of PortfolioType
1Saba Capital Management, L.P.2,760,256$29.9B0.89%Share
2RIVERNORTH CAPITAL MANAGEMENT, LLC1,039,845$11.3B0.53%Share
3KEYBANK NATIONAL ASSOCIATION/OH918,129$9.9B35.58%Share
4Advisors Asset Management, Inc.699,896$7.0B117.53%Share
5GUGGENHEIM CAPITAL LLC704,659$7.0B50.13%Share
6Hennion & Walsh Asset Management, Inc.609,785$6.6B0.23%Share
7CITY OF LONDON INVESTMENT MANAGEMENT CO LTD453,640$4.9B0.37%Share
8WELLS FARGO & COMPANY/MN396,741$4.0B0.73%Share
9Logan Stone Capital, LLC188,972$2.0B0.50%Share
10ROYAL BANK OF CANADA207,000$2.0B0.33%Share
11COMMONWEALTH EQUITY SERVICES, LLC197,189$2.0B2.67%Share
12Fiera Capital Corp268,207$2.0B6.34%Share
13Indiana Trust & Investment Management Co152,252$1.6B0.49%Share
14RIVERBRIDGE PARTNERS LLC138,885$1.5B28.16%Share
15WHITEBOX ADVISORS LLC113,648$1.2B17.44%Share
16UBS Group AG113,100$1.2B0.20%Share
17BALYASNY ASSET MANAGEMENT L.P.93,982$1.0B1.27%Share
18WELLS FARGO & COMPANY/MN97,948$1.0B0.18%Share
19ROBINSON CAPITAL MANAGEMENT, LLC84,467$913.0M0.37%Share
20Capital Investment Advisors, LLC71,414$772.0M11.76%Share
21KENNEDY INVESTMENT GROUP52,094$563.0M0.21%Share
22MELFA WEALTH MANAGEMENT, INC.47,652$515.0M0.30%Share
23Traub Capital Management LLC46,787$506.0M0.49%Share
24UBS Group AG41,716$451.0M0.07%Share
251607 Capital Partners, LLC35,947$388.0M0.03%Share
26ProVise Management Group, LLC28,856$312.0M0.02%Share
27WOLVERINE ASSET MANAGEMENT LLC27,196$294.0M2.32%Share
28Catalina Capital Group, LLC19,690$213.0M0.13%Share
29Smith Asset Management Co., LLC18,203$196.0M0.16%Share
30US BANCORP \DE\17,232$186.0M0.22%Share
31PFG Investments, LLC14,043$151.0M0.01%Share
32Wellspring Financial Advisors, LLC12,991$140.0M0.01%Share
33BALANCED WEALTH GROUP LLC12,718$139.0M0.05%Share
34KEYBANK NATIONAL ASSOCIATION/OH12,613$136.0M0.49%Share
35River Street Advisors LLC11,182$120.0M0.04%Share
36LANDSCAPE CAPITAL MANAGEMENT, L.L.C.6,218$67.0M0.00%Share
37LANDSCAPE CAPITAL MANAGEMENT, L.L.C.3,633$39.0M0.00%Share
38Pathstone Holdings, LLC2,729,594$29.0M0.11%Share
39LANDSCAPE CAPITAL MANAGEMENT, L.L.C.2,296$24.0M0.00%Share
40Elyxium Wealth, LLC2,086$22.0M0.01%Share
41Scarborough Advisors, LLC1,783$19.0M0.00%Share
42Allspring Global Investments Holdings, LLC1,432,746$15.5M0.03%Share
43Caldwell Trust Co1,400$15.0M0.00%Share
44UBS Group AG1,326$14.0M0.00%Share
45Elyxium Wealth, LLC1,083$11.0M0.00%Share
46PRIVATE TRUST CO NA1,100$11.0M0.00%Share
47Elyxium Wealth, LLC814$8.0M0.00%Share
48CoreCap Advisors, LLC729$7.0M0.00%Share
49MORGAN STANLEY521,317$5.0M0.00%Share
50SIT INVESTMENT ASSOCIATES INC480,983$5.0M0.10%Share

AFB Institutional Ownership History

QuarterHoldersTotal ValueChange
Q4 202590$102.5B+42
Q3 202548$99.5B-22
Q2 202570$105.4B-6
Q1 202576$130.9B+4
Q4 202472$1.1T+12
Q3 202460$5.5T-5
Q2 202465$3.0T+7
Q1 202458$1.9T—

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As of Q4 2025, 50 institutional investors hold AFB (Alliance National Municipal Income Fund, Inc.). The largest holder is Saba Capital Management, L.P. with $29.9B in shares. This quarter, 11 institutions opened new positions and 4 closed their positions.

Frequently Asked Questions

How many hedge funds own AFB?

As of Q4 2025, 50 institutional investors report holding AFB (Alliance National Municipal Income Fund, Inc.) in their 13F filings.

Who is the largest institutional holder of AFB?

The largest institutional holder of AFB is Saba Capital Management, L.P. with $29.9B in shares.

Is institutional ownership of AFB increasing or decreasing?

This quarter, 11 institutions opened new positions in AFB and 4 closed their positions.