Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Alliancebernstein Natl Mun I (AFB)

87 + Investors. Track Smart Money conviction in AFB. See who's accumulating, reducing, or initiating positions.

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Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -3
Streak
1Q ▼
Buyers last Q
40%

Smart Money Signals — AFB

Based on 87 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their AFB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (97% of max)

97% of all-time peak
87 hedge funds hold AFB right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +9% more funds vs a year ago

fund count last 6Q
+7 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 40% buying

35 buying52 selling
Last quarter: 52 funds reduced or exited vs 35 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️

Steady new buyers — ~14 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 7 → 23 → 18 → 14. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

60% of holders stayed for 2+ years

60% conviction (2yr+) 18% medium 22% new
52 out of 87 hedge funds have held AFB for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
➡️

Steady discovery — ~14 new funds/quarter

16 → 7 → 23 → 18 → 14 new funds/Q
New funds entering each quarter: 7 → 23 → 18 → 14. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 67% veterans vs 24% newcomers

67% veterans 9% 1-2yr 24% new
Entry-cohort mix of 87 holders: 58 (67%) are 2+ year veterans, 8 entered 1–2 years ago, and 21 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 12% AUM from top-100

12% from top-100 AUM funds
15 of 87 holders rank in the top 100 by AUM, but together hold only 12% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — AFB

In 2026 Q2, 35 hedge funds were net buyers of AFB (14 opened a new position, 21 added to an existing one), while 52 reduced or exited (35 trimmed, 17 sold completely) — a 40% buyer ratio, indicating roughly balanced activity. Net fund flow last quarter: -3 funds (more exits than new entries). Total institutional holders: 87.

Hedge Fund Ownership: AFB

How many hedge funds hold AFB — quarterly history vs. share price
Quarterly hedge fund ownership of AFB vs. share price

Market Analysis: AFB

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: AFB

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Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

3 top-rated funds 0 high-conviction
Consensus
2.6
/ 10
breadth
×
Elite
0.6
/ 10
conviction
Hedge Fund Positioning: AFB
87 + Investors

Track Smart Money conviction in AFB. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 87 90 -3.33%
13F Shares 18M 19M -1.47%
Total Value $200M $186M 7.44%
New Positions 14 18 -4
Increased Positions 21 34 -13
Closed Positions 17 18 -1
Reduced Positions 35 16 +19
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: AFB

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Institutional Holders (2026 Q2)

87 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in AFB. Verified SEC 13F-HR filings.

QUARTER:
Top 25 AFB holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Altium Capital Management LLC 4.21% 175,187 $2.0M
2 Robinson Capital Management, LLC 1.34% 265,460 $3.0M
3 Karpus Management, Inc. 1.18% 3,603,262 $41.1M
4 Rareview Capital LLC 0.98% 169,976 $1.8M
5 Closed-End Fund Advisors, Inc. 0.68% 60,689 $692K
6 Rivernorth Capital Management, LLC 0.57% 1,047,724 $12.0M
7 Smh Capital Advisors Inc 0.55% 12,204 $139K
8 Indiana Trust & Investment Management Co 0.43% 137,000 $1.6M
9 Noble Wealth Management PBC 0.35% 68,341 $780K
10 Almitas Capital LLC 0.33% 120,993 $1.4M
11 Melfa Wealth Management, INC. 0.29% 47,652 $544K
12 Traub Capital Management LLC 0.29% 28,481 $325K
13 Petra Financial Advisors Inc 0.28% 53,035 $605K
14 City of London Investment Management Co Ltd 0.26% 373,640 $4.3M
15 Hennion & Walsh Asset Management, Inc. 0.20% 599,669 $6.8M
16 Smith Asset Management Co., LLC 0.16% 18,203 $208K
17 Kennedy Investment Group, INC. 0.15% 39,174 $447K
18 Advisors Asset Management, Inc. 0.13% 764,003 $8.7M
19 Ground Swell Capital, LLC 0.13% 10,485 $120K
20 Jupiter Wealth Management LLC 0.12% 27,175 $310K
21 Thomas J. Herzfeld Advisors, Inc. 0.12% 33,015 $377K
22 Pathstone Holdings, LLC 0.10% 2,883,076 $32.9M
23 Balanced Wealth Group LLC 0.09% 24,433 $279K
24 Accredited Investor Services, LLC 0.06% 10,042 $115K
25 Guggenheim Capital LLC 0.05% 683,198 $7.8M
Investor Ownership
History
% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Alliancebernstein Natl Mun I (AFB)

What does the Smart Money Trend signal show for AFB?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their AFB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for AFB?

More sellers than buyers — 40% buying: Last quarter: 52 funds reduced or exited vs 35 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for AFB holders?

Smaller funds dominant — 12% AUM from top-100: 15 of 87 holders rank in the top 100 by AUM, but together hold only 12% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held AFB?

60% of holders stayed for 2+ years: 52 out of 87 hedge funds have held AFB for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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