AFB

ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND

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CIK 1162027

$10.94

+0.03 (+0.27%)

USD · as of 2026-07-28 · marketstack

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Institutional ownership· 13F filers holding AFB · 2026-Q1 methodology → sources →

91 holders

% of shares outstanding held

—

Shares held (13F)

18,584,091

Reporting holders

Top holders

largest 91 of 91 · Δ vs 2025-Q4

#	Holder	Shares	Value	% of shares out	Δ QoQ
1	Pathstone Holdings, LLC	3,088,3923.1M	$33M	—	ADD 13%
2	Karpus Management, Inc.	2,553,1182.6M	$27M	—	ADD 66%
3	Allspring Global Investments Holdings, LLC	1,464,5771.5M	$16M	—	ADD 2%
4	RIVERNORTH CAPITAL MANAGEMENT, LLC	1,061,4841.1M	$11M	—	ADD 2%
5	KEYBANK NATIONAL ASSOCIATION/OH	959,584959,584	$10M	—	ADD 3%
6	MORGAN STANLEY	879,497879,497	$9M	—	ADD 23%
7	GUGGENHEIM CAPITAL LLC	706,284706,284	$8M	—	—
8	Advisors Asset Management, Inc.	688,070688,070	$7M	—	—
9	SIT INVESTMENT ASSOCIATES INC	676,737676,737	$7M	—	ADD 41%
10	Hennion & Walsh Asset Management, Inc.	606,136606,136	$6M	—	—
11	WELLS FARGO & COMPANY/MN	508,066508,066	$5M	—	ADD 3%
12	Saba Capital Management, L.P.	459,321459,321	$5M	—	TRIM -83%
13	CITY OF LONDON INVESTMENT MANAGEMENT CO LTD	453,640453,640	$5M	—	—
14	Rareview Capital LLC	420,224420,224	$4M	—	NEW
15	ROBINSON CAPITAL MANAGEMENT, LLC	265,460265,460	$3M	—	ADD 214%
16	VAN ECK ASSOCIATES CORP	271,629271,629	$3M	—	ADD 12%
17	Altium Capital Management LLC	222,264222,264	$2M	—	ADD 129%
18	Almitas Capital LLC	214,282214,282	$2M	—	—
19	COMMONWEALTH EQUITY SERVICES, LLC	194,423194,423	$2M	—	—
20	RIVERBRIDGE PARTNERS LLC	155,029155,029	$2M	—	ADD 12%
21	Logan Stone Capital, LLC	152,881152,881	$2M	—	TRIM -19%
22	Fiera Capital Corp	147,981147,981	$2M	—	TRIM -45%
23	Bank of New York Mellon Corp	147,061147,061	$2M	—	ADD 4%
24	Indiana Trust & Investment Management Co	137,000137,000	$1M	—	TRIM -10%
25	LORD, ABBETT & CO. LLC	129,025129,025	$1M	—	ADD 12%
26	WHITEBOX ADVISORS LLC	113,648113,648	$1M	—	—
27	Dakota Wealth Management	104,127104,127	$1M	—	ADD 57%
28	LPL Financial LLC	99,32499,324	$1M	—	—
29	&PARTNERS	92,69892,698	$990,945	—	ADD 11%
30	ROYAL BANK OF CANADA	78,45178,451	$839,000	—	TRIM -64%
31	COHEN & STEERS, INC.	78,00078,000	$834,000	—	—
32	Integrated Wealth Concepts LLC	73,15973,159	$782,070	—	—
33	Capital Investment Advisors, LLC	68,84868,848	$735,985	—	TRIM -4%
34	BANK OF AMERICA CORP /DE/	66,50666,506	$710,952	—	ADD 18%
35	Noble Wealth Management PBC	64,54564,545	$689,987	—	ADD 17%
36	Summit Trail Advisors, LLC	64,33764,337	$687,766	—	NEW
37	Closed-End Fund Advisors, Inc.	62,67862,678	$670,028	—	ADD 91%
38	AMERIPRISE FINANCIAL INC	57,54557,545	$615,156	—	ADD 36%
39	ENVESTNET ASSET MANAGEMENT INC	56,79556,795	$607,139	—	ADD 34%
40	PETRA FINANCIAL ADVISORS INC	53,35053,350	$570,312	—	NEW
41	Traub Capital Management LLC	50,29150,291	$537,611	—	ADD 7%
42	MELFA WEALTH MANAGEMENT, INC.	47,65247,652	$509,405	—	—
43	KENNEDY INVESTMENT GROUP, INC.	47,28147,281	$505,439	—	TRIM -9%
44	Creative Planning	45,27845,278	$484,019	—	TRIM -15%
45	HighTower Advisors, LLC	41,83541,835	$447,214	—	TRIM -18%
46	Lido Advisors, LLC	37,53837,538	$401,288	—	TRIM -88%
47	1607 Capital Partners, LLC	35,94735,947	$384,273	—	—
48	Invesco Ltd.	35,34835,348	$377,870	—	NEW
49	Arete Wealth Advisors, LLC	34,13734,137	$362,541	—	ADD 81%
50	BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC	33,72233,722	$360,488	—	—
51	STIFEL FINANCIAL CORP	32,66232,662	$349,155	—	—
52	ProVise Management Group, LLC	28,85628,856	$308,471	—	—
53	Jupiter Wealth Management LLC	27,17527,175	$302,459	—	NEW
54	Catalina Capital Group, LLC	27,51327,513	$294,114	—	ADD 40%
55	EVOLVE PRIVATE WEALTH, LLC	27,30427,304	$291,880	—	—
56	UBS Group AG	26,87726,877	$287,315	—	TRIM -83%
57	Wellspring Financial Advisors, LLC	26,09126,091	$278,913	—	ADD 101%
58	RAYMOND JAMES FINANCIAL INC	23,55823,558	$251,834	—	ADD 21%
59	BALANCED WEALTH GROUP LLC	23,24523,245	$248,489	—	ADD 83%
60	Financially in Tune, LLC	21,60021,600	$230,904	—	—
61	OSAIC HOLDINGS, INC.	20,48620,486	$218,994	—	ADD 64%
62	Smith Asset Management Co., LLC	18,20318,203	$194,590	—	—
63	US BANCORP \DE\	17,23217,232	$184,210	—	—
64	Cerity Partners LLC	15,61215,612	$166,892	—	ADD 35%
65	Merit Financial Group, LLC	15,16815,168	$162,146	—	ADD 23%
66	Independent Advisor Alliance	14,96814,968	$160,008	—	—
67	Ackerman Capital Advisors, LLC	14,09914,099	$150,718	—	NEW
68	CHOREO, LLC	13,09213,092	$139,953	—	ADD 20%
69	River Street Advisors LLC	11,18211,182	$119,536	—	—
70	DUNCKER STREETT & CO INC	11,00011,000	$117,590	—	—
71	U.S. Capital Wealth Advisors, LLC	10,21310,213	$109,177	—	—
72	ACCREDITED INVESTOR SERVICES, LLC	10,08410,084	$107,798	—	NEW
73	NOMURA HOLDINGS INC	10,00010,000	$106,900	—	NEW
74	Curi Capital, LLC	10,00010,000	$106,900	—	NEW
75	Allworth Financial LP	7,0007,000	$74,830	—	—
76	Steward Partners Investment Advisory, LLC	3,3283,328	$35,576	—	—
77	Pinnacle Wealth Planning Services, Inc.	1,9321,932	$20,653	—	ADD 21%
78	Scarborough Advisors, LLC	1,8911,891	$20,215	—	ADD 6%
79	Ascentis Independent Advisors	1,5681,568	$16,761	—	NEW
80	Caldwell Trust Co	1,4001,400	$14,966	—	—
81	PRIVATE TRUST CO NA	1,1001,100	$11,759	—	—
82	CoreCap Advisors, LLC	729729	$7,793	—	—
83	MOTCO	725725	$7,750	—	—
84	BlackRock, Inc.	595595	$6,361	—	NEW
85	WPG Advisers, LLC	535535	$5,719	—	ADD 20%
86	Destiny Wealth Partners, LLC	532532	$5,687	—	NEW
87	HARBOUR INVESTMENTS, INC.	500500	$5,345	—	—
88	True Link Financial Advisors, LLC	279279	$2,983	—	NEW
89	HIGHLINE WEALTH PARTNERS LLC	275275	$2,940	—	NEW
90	Community Financial Services Group, LLC	200200	$2,122	—	NEW
91	FIFTH THIRD BANCORP	7777	$822	—	NEW

Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.

Holder trends· top 15 holders · shares held over 6 quarters

green added · red trimmed

Holder

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

Pathstone Holdings, LLC

2.1M

2.4M

2.0M

2.1M

2.7M

3.1M

$33M

Karpus Management, Inc.

174K

718K

1.1M

1.3M

1.5M

2.6M

$27M

Allspring Global Investments Holdings, LLC

814K

991K

1.2M

1.4M

1.5M

$16M

RIVERNORTH CAPITAL MANAGEMENT, LLC

1.2M

1.1M

1.0M

1.1M

$11M

KEYBANK NATIONAL ASSOCIATION/OH

884K

910K

882K

931K

960K

$10M

MORGAN STANLEY

990K

935K

681K

711K

714K

879K

$9M

GUGGENHEIM CAPITAL LLC

162K

158K

297K

472K

705K

706K

$8M

Advisors Asset Management, Inc.

582K

527K

581K

579K

700K

688K

$7M

SIT INVESTMENT ASSOCIATES INC

683K

614K

481K

677K

$7M

Hennion & Walsh Asset Management, Inc.

593K

380K

369K

563K

610K

606K

$6M

WELLS FARGO & COMPANY/MN

736K

687K

506K

493K

495K

508K

$5M

Saba Capital Management, L.P.

3.1M

2.8M

459K

$5M

CITY OF LONDON INVESTMENT MANAGEMENT CO LTD

548K

570K

454K

$5M

Rareview Capital LLC

—

420K

$4M

ROBINSON CAPITAL MANAGEMENT, LLC

—

84K

265K

$3M

Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

Institutional footprint by quarter

Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.

Quarter	Holders	Shares held	% shares out	Value held
2026-Q1	91	18,584,091	—	$199M
2025-Q4	92	18,842,224	—	$204M
2025-Q3	76	18,192,813	—	$197M
2025-Q2	81	17,512,064	—	$181M
2025-Q1	79	17,792,323	—	$194M
2024-Q4	81	17,420,742

Short interest has its own tab now — open SI →

Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.

Institutional ownership· 13F filers holding AFB · 2026-Q1 methodology → sources →

91 holders

% of shares outstanding held

—

Shares held (13F)

18,584,091

Reporting holders

Top holders

largest 91 of 91 · Δ vs 2025-Q4

#	Holder	Shares	Value	% of shares out	Δ QoQ
1	Pathstone Holdings, LLC	3,088,3923.1M	$33M	—	ADD 13%
2	Karpus Management, Inc.	2,553,1182.6M	$27M	—	ADD 66%
3	Allspring Global Investments Holdings, LLC	1,464,5771.5M	$16M	—	ADD 2%
4	RIVERNORTH CAPITAL MANAGEMENT, LLC	1,061,4841.1M	$11M	—	ADD 2%
5	KEYBANK NATIONAL ASSOCIATION/OH	959,584959,584	$10M	—	ADD 3%
6	MORGAN STANLEY	879,497879,497	$9M	—	ADD 23%
7	GUGGENHEIM CAPITAL LLC	706,284706,284	$8M	—	—
8	Advisors Asset Management, Inc.	688,070688,070	$7M	—	—
9	SIT INVESTMENT ASSOCIATES INC	676,737676,737	$7M	—	ADD 41%
10	Hennion & Walsh Asset Management, Inc.	606,136606,136	$6M	—	—
11	WELLS FARGO & COMPANY/MN	508,066508,066	$5M	—	ADD 3%
12	Saba Capital Management, L.P.	459,321459,321	$5M	—	TRIM -83%
13	CITY OF LONDON INVESTMENT MANAGEMENT CO LTD	453,640453,640	$5M	—	—
14	Rareview Capital LLC	420,224420,224	$4M	—	NEW
15	ROBINSON CAPITAL MANAGEMENT, LLC	265,460265,460	$3M	—	ADD 214%
16	VAN ECK ASSOCIATES CORP	271,629271,629	$3M	—	ADD 12%
17	Altium Capital Management LLC	222,264222,264	$2M	—	ADD 129%
18	Almitas Capital LLC	214,282214,282	$2M	—	—
19	COMMONWEALTH EQUITY SERVICES, LLC	194,423194,423	$2M	—	—
20	RIVERBRIDGE PARTNERS LLC	155,029155,029	$2M	—	ADD 12%
21	Logan Stone Capital, LLC	152,881152,881	$2M	—	TRIM -19%
22	Fiera Capital Corp	147,981147,981	$2M	—	TRIM -45%
23	Bank of New York Mellon Corp	147,061147,061	$2M	—	ADD 4%
24	Indiana Trust & Investment Management Co	137,000137,000	$1M	—	TRIM -10%
25	LORD, ABBETT & CO. LLC	129,025129,025	$1M	—	ADD 12%
26	WHITEBOX ADVISORS LLC	113,648113,648	$1M	—	—
27	Dakota Wealth Management	104,127104,127	$1M	—	ADD 57%
28	LPL Financial LLC	99,32499,324	$1M	—	—
29	&PARTNERS	92,69892,698	$990,945	—	ADD 11%
30	ROYAL BANK OF CANADA	78,45178,451	$839,000	—	TRIM -64%
31	COHEN & STEERS, INC.	78,00078,000	$834,000	—	—
32	Integrated Wealth Concepts LLC	73,15973,159	$782,070	—	—
33	Capital Investment Advisors, LLC	68,84868,848	$735,985	—	TRIM -4%
34	BANK OF AMERICA CORP /DE/	66,50666,506	$710,952	—	ADD 18%
35	Noble Wealth Management PBC	64,54564,545	$689,987	—	ADD 17%
36	Summit Trail Advisors, LLC	64,33764,337	$687,766	—	NEW
37	Closed-End Fund Advisors, Inc.	62,67862,678	$670,028	—	ADD 91%
38	AMERIPRISE FINANCIAL INC	57,54557,545	$615,156	—	ADD 36%
39	ENVESTNET ASSET MANAGEMENT INC	56,79556,795	$607,139	—	ADD 34%
40	PETRA FINANCIAL ADVISORS INC	53,35053,350	$570,312	—	NEW
41	Traub Capital Management LLC	50,29150,291	$537,611	—	ADD 7%
42	MELFA WEALTH MANAGEMENT, INC.	47,65247,652	$509,405	—	—
43	KENNEDY INVESTMENT GROUP, INC.	47,28147,281	$505,439	—	TRIM -9%
44	Creative Planning	45,27845,278	$484,019	—	TRIM -15%
45	HighTower Advisors, LLC	41,83541,835	$447,214	—	TRIM -18%
46	Lido Advisors, LLC	37,53837,538	$401,288	—	TRIM -88%
47	1607 Capital Partners, LLC	35,94735,947	$384,273	—	—
48	Invesco Ltd.	35,34835,348	$377,870	—	NEW
49	Arete Wealth Advisors, LLC	34,13734,137	$362,541	—	ADD 81%
50	BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC	33,72233,722	$360,488	—	—
51	STIFEL FINANCIAL CORP	32,66232,662	$349,155	—	—
52	ProVise Management Group, LLC	28,85628,856	$308,471	—	—
53	Jupiter Wealth Management LLC	27,17527,175	$302,459	—	NEW
54	Catalina Capital Group, LLC	27,51327,513	$294,114	—	ADD 40%
55	EVOLVE PRIVATE WEALTH, LLC	27,30427,304	$291,880	—	—
56	UBS Group AG	26,87726,877	$287,315	—	TRIM -83%
57	Wellspring Financial Advisors, LLC	26,09126,091	$278,913	—	ADD 101%
58	RAYMOND JAMES FINANCIAL INC	23,55823,558	$251,834	—	ADD 21%
59	BALANCED WEALTH GROUP LLC	23,24523,245	$248,489	—	ADD 83%
60	Financially in Tune, LLC	21,60021,600	$230,904	—	—
61	OSAIC HOLDINGS, INC.	20,48620,486	$218,994	—	ADD 64%
62	Smith Asset Management Co., LLC	18,20318,203	$194,590	—	—
63	US BANCORP \DE\	17,23217,232	$184,210	—	—
64	Cerity Partners LLC	15,61215,612	$166,892	—	ADD 35%
65	Merit Financial Group, LLC	15,16815,168	$162,146	—	ADD 23%
66	Independent Advisor Alliance	14,96814,968	$160,008	—	—
67	Ackerman Capital Advisors, LLC	14,09914,099	$150,718	—	NEW
68	CHOREO, LLC	13,09213,092	$139,953	—	ADD 20%
69	River Street Advisors LLC	11,18211,182	$119,536	—	—
70	DUNCKER STREETT & CO INC	11,00011,000	$117,590	—	—
71	U.S. Capital Wealth Advisors, LLC	10,21310,213	$109,177	—	—
72	ACCREDITED INVESTOR SERVICES, LLC	10,08410,084	$107,798	—	NEW
73	NOMURA HOLDINGS INC	10,00010,000	$106,900	—	NEW
74	Curi Capital, LLC	10,00010,000	$106,900	—	NEW
75	Allworth Financial LP	7,0007,000	$74,830	—	—
76	Steward Partners Investment Advisory, LLC	3,3283,328	$35,576	—	—
77	Pinnacle Wealth Planning Services, Inc.	1,9321,932	$20,653	—	ADD 21%
78	Scarborough Advisors, LLC	1,8911,891	$20,215	—	ADD 6%
79	Ascentis Independent Advisors	1,5681,568	$16,761	—	NEW
80	Caldwell Trust Co	1,4001,400	$14,966	—	—
81	PRIVATE TRUST CO NA	1,1001,100	$11,759	—	—
82	CoreCap Advisors, LLC	729729	$7,793	—	—
83	MOTCO	725725	$7,750	—	—
84	BlackRock, Inc.	595595	$6,361	—	NEW
85	WPG Advisers, LLC	535535	$5,719	—	ADD 20%
86	Destiny Wealth Partners, LLC	532532	$5,687	—	NEW
87	HARBOUR INVESTMENTS, INC.	500500	$5,345	—	—
88	True Link Financial Advisors, LLC	279279	$2,983	—	NEW
89	HIGHLINE WEALTH PARTNERS LLC	275275	$2,940	—	NEW
90	Community Financial Services Group, LLC	200200	$2,122	—	NEW
91	FIFTH THIRD BANCORP	7777	$822	—	NEW

Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.

Holder trends· top 15 holders · shares held over 6 quarters

green added · red trimmed

Holder

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

Pathstone Holdings, LLC

2.1M

2.4M

2.0M

2.1M

2.7M

3.1M

$33M

Karpus Management, Inc.

174K

718K

1.1M

1.3M

1.5M

2.6M

$27M

Allspring Global Investments Holdings, LLC

814K

991K

1.2M

1.4M

1.5M

$16M

RIVERNORTH CAPITAL MANAGEMENT, LLC

1.2M

1.1M

1.0M

1.1M

$11M

KEYBANK NATIONAL ASSOCIATION/OH

884K

910K

882K

931K

960K

$10M

MORGAN STANLEY

990K

935K

681K

711K

714K

879K

$9M

GUGGENHEIM CAPITAL LLC

162K

158K

297K

472K

705K

706K

$8M

Advisors Asset Management, Inc.

582K

527K

581K

579K

700K

688K

$7M

SIT INVESTMENT ASSOCIATES INC

683K

614K

481K

677K

$7M

Hennion & Walsh Asset Management, Inc.

593K

380K

369K

563K

610K

606K

$6M

WELLS FARGO & COMPANY/MN

736K

687K

506K

493K

495K

508K

$5M

Saba Capital Management, L.P.

3.1M

2.8M

459K

$5M

CITY OF LONDON INVESTMENT MANAGEMENT CO LTD

548K

570K

454K

$5M

Rareview Capital LLC

—

420K

$4M

ROBINSON CAPITAL MANAGEMENT, LLC

—

84K

265K

$3M

Institutional footprint by quarter

Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.

Quarter	Holders	Shares held	% shares out	Value held
2026-Q1	91	18,584,091	—	$199M
2025-Q4	92	18,842,224	—	$204M
2025-Q3	76	18,192,813	—	$197M
2025-Q2	81	17,512,064	—	$181M
2025-Q1	79	17,792,323	—	$194M
2024-Q4	81	17,420,742

Short interest has its own tab now — open SI →

AFB☆

Institutional ownership· 13F filers holding AFB · 2026-Q1 methodology → sources →

Top holders

Holder trends· top 15 holders · shares held over 6 quarters

Institutional footprint by quarter

Institutional ownership· 13F filers holding AFB · 2026-Q1 methodology → sources →

Top holders

Holder trends· top 15 holders · shares held over 6 quarters

Institutional footprint by quarter

AFB