AFB Alliance National Municipal Income Fund, Inc.
Alliance National Municipal Income Fund, Inc. (AFB) Institutional Ownership
What the institutions did with AFB last quarter, from their 13F filings. Counting managers rather than shares is the point: a single index fund adding to a position tells you far less than four hundred separate managers all deciding to. Positions as reported for the quarter ended September 30, 2026.
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Each block is one manager, sized by shares held and colored by how much they moved the position last quarter. Green added, red cut, grey stood pat.
Largest holders
| Manager | Shares | % of reported |
|---|---|---|
| Allspring Global Investments Holdings, LLC | 1.3M | 28.3% |
| KEYBANK NATIONAL ASSOCIATION/OH | 874.8K | 18.4% |
| Hennion & Walsh Asset Management, Inc. | 711.0K | 14.9% |
| CITY OF LONDON INVESTMENT MANAGEMENT CO LTD | 373.6K | 7.8% |
| COMMONWEALTH EQUITY SERVICES, LLC | 196.6K | 4.1% |
| Indiana Trust & Investment Management Co | 137.0K | 2.9% |
| Bank of New York Mellon Corp | 134.0K | 2.8% |
| Kestra Advisory Services, LLC | 115.6K | 2.4% |
| LPL Financial LLC | 106.1K | 2.2% |
| RIVERBRIDGE PARTNERS LLC | 82.2K | 1.7% |
| Noble Wealth Management PBC | 68.4K | 1.4% |
| Capital Investment Advisors, LLC | 62.5K | 1.3% |
| Closed-End Fund Advisors, Inc. | 61.2K | 1.3% |
| Altium Capital Management LLC | 48.1K | 1.0% |
| Rareview Capital LLC | 41.0K | 0.9% |
| MELFA WEALTH MANAGEMENT, INC. | 37.9K | 0.8% |
| Lido Advisors, LLC | 35.0K | 0.7% |
| KENNEDY INVESTMENT GROUP, INC. | 34.3K | 0.7% |
| Bison Wealth, LLC | 32.0K | 0.7% |
| BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC | 30.9K | 0.6% |
| PNC Financial Services Group, Inc. | 30.6K | 0.6% |
| ProVise Management Group, LLC | 29.8K | 0.6% |
| WEDBUSH SECURITIES INC | 22.0K | 0.5% |
| Ackerman Capital Advisors, LLC | 20.7K | 0.4% |
| Fiera Capital Corp | 18.3K | 0.4% |
Largest changes
| Manager | Action | Previous | Current | Change |
|---|---|---|---|---|
| Rareview Capital LLC | Reduced | 170.0K | 41.0K | -128.9K |
| Altium Capital Management LLC | Reduced | 175.2K | 48.1K | -127.1K |
| Fiera Capital Corp | Reduced | 142.3K | 18.3K | -124.0K |
| Kestra Advisory Services, LLC | New | 0 | 115.6K | +115.6K |
| Hennion & Walsh Asset Management, Inc. | Increased | 599.7K | 711.0K | +111.3K |
| KEYBANK NATIONAL ASSOCIATION/OH | Reduced | 962.4K | 874.8K | -87.6K |
| Allspring Global Investments Holdings, LLC | Reduced | 1.4M | 1.3M | -63.6K |
| Creative Planning | Sold Out | 44.8K | 0 | -44.8K |
| Lido Advisors, LLC | New | 0 | 35.0K | +35.0K |
| Bison Wealth, LLC | New | 0 | 32.0K | +32.0K |
| WEDBUSH SECURITIES INC | New | 0 | 22.0K | +22.0K |
| Ackerman Capital Advisors, LLC | New | 0 | 20.7K | +20.7K |
| ACCREDITED INVESTOR SERVICES, LLC | Sold Out | 10.0K | 0 | -10.0K |
| MELFA WEALTH MANAGEMENT, INC. | Reduced | 47.7K | 37.9K | -9.7K |
| Capital Investment Advisors, LLC | Reduced | 68.4K | 62.5K | -5.9K |
| RIVERBRIDGE PARTNERS LLC | Reduced | 87.8K | 82.2K | -5.7K |
| CITIGROUP INC | Sold Out | 5.5K | 0 | -5.5K |
| KENNEDY INVESTMENT GROUP, INC. | Reduced | 39.2K | 34.3K | -4.9K |
| LPL Financial LLC | Increased | 101.9K | 106.1K | +4.3K |
| COMMONWEALTH EQUITY SERVICES, LLC | Increased | 193.1K | 196.6K | +3.5K |
| Farther Finance Advisors, LLC | New | 0 | 3.5K | +3.5K |
| CHOREO, LLC | Reduced | 14.1K | 12.1K | -2.0K |
| Ascentis Independent Advisors | New | 0 | 1.6K | +1.6K |
| Bank of New York Mellon Corp | Reduced | 134.6K | 134.0K | -640 |
| BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC | Reduced | 31.5K | 30.9K | -592 |
| ProVise Management Group, LLC | Reduced | 30.4K | 29.8K | -531 |
| Closed-End Fund Advisors, Inc. | Increased | 60.7K | 61.2K | +530 |
| Pinnacle Wealth Planning Services, Inc. | Reduced | 2.3K | 1.7K | -519 |
| MONTAG A & ASSOCIATES INC | New | 0 | 359 | +359 |
| Merit Financial Group, LLC | Reduced | 15.6K | 15.3K | -271 |
| Noble Wealth Management PBC | Increased | 68.3K | 68.4K | +9 |
| FIFTH THIRD BANCORP | Increased | 84 | 86 | +2 |
| Elyxium Wealth, LLC | New | 0 | 2 | +2 |
13F filings are due 45 days after quarter end and cover long positions in U.S.-listed equities only, so this is a lagged and partial picture: shorts, bonds and foreign listings never appear. Options positions are excluded here rather than folded into the share counts. Political ownership is coming.