ALLIANCEBERNSTEIN HOLDING (AB) Company Report

AllianceBernstein Holding L.P. (AB) announced preliminary Assets Under Management (AUM) of $865 billion as of November 30, 2025.
This represents a $3 billion decrease from $868 billion at the end of October 2025.
The decline in AUM was primarily attributed to client outflows, while market conditions remained largely flat.
Outflows were mainly concentrated within Institutions, with modest outflows in Retail and slight outflows from Private Wealth.

Dec 10, 2025, 10:21 PM

8-K

AllianceBernstein Announces November 2025 Assets Under Management

Demand Weakening

AllianceBernstein's preliminary assets under management (AUM) decreased to $865 billion in November 2025, down from $868 billion at the end of October 2025.
The $3 billion decline in month-end AUM was primarily due to client outflows, while market conditions remained largely flat.
Outflows during November were mainly concentrated within Institutions, with modest outflows in Retail and slight outflows from Private Wealth.

Dec 10, 2025, 9:05 PM

Press Release

AllianceBernstein Discusses 2026 Outlook and Growth Strategies

New Projects/Investments

Demand Weakening

Revenue Acceleration/Inflection

AllianceBernstein (AB) anticipates higher inflation and dollar weakness in 2026, advising clients to increase exposure to offshore markets, particularly non-U.S. equities and emerging markets, due to valuation differentials and stronger growth opportunities.
The firm is nearing its $90 billion-$100 billion AUM target by 2027 for private markets, with current AUM closing in on $90 billion. Growth is driven by Equitable assets, third-party institutional mandates, insurance clients, private wealth, and the integration of private credit into defined contribution (DC) plans.
AB's DC business manages $105 billion in assets and sees a significant future opportunity in incorporating annuities into target date funds, supported by a recent DOL advisory opinion providing a safe harbor for plan sponsors.
The company expects a rotation of capital from money market funds into fixed income, particularly intermediate duration and high yield, and is well-positioned to capture this demand. Active ETFs are also a key growth area, with $10 billion in AUM across 20 strategies, and growing international adoption.
AB projects its fee rate to remain "pretty durable" in the 38-39 basis points range and operating margins around 33%-34%, supported by strong non-compensation expense control, offshore hiring, and aggressive growth in Private Alts.

Dec 9, 2025, 5:20 PM

Transcript

AllianceBernstein Discusses 2026 Outlook, Private Markets, and ETF Growth

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

AllianceBernstein (AB) is closing in on $90 billion in private markets AUM, nearing its $90-$100 billion target by 2027, with growth driven by Equitable assets, third-party institutional, and insurance clients.
The firm's active ETF business has $10 billion in AUM across 20 strategies, with 60% net new flows, and is expanding internationally in Australia, Taiwan, and Japan.
CEO Seth Bernstein advises clients to consider moving more assets offshore for 2026 due to rich U.S. valuations, tight credit spreads, and better growth opportunities in foreign markets.
AB maintains a durable fee rate in the 38-39 basis points range and an operating margin of 33%-34%, supported by non-compensation expense control and strategic investments in offshore operations.
The company has an institutional pipeline of approximately $12 billion in wins, including significant private credit components, expected to be deployed over the next 12-18 months.

Dec 9, 2025, 5:20 PM

Transcript

AllianceBernstein Discusses Strategic Growth, Market Outlook, and Operational Efficiency

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

AllianceBernstein (AB) manages over $850 billion in AUM and is nearing its $90-$100 billion private markets target for 2027, with expectations to surpass it.
The firm is strategically focusing on encouraging clients to move more offshore due to U.S. market valuations and dollar weakness, identifying growth opportunities in Asia and Europe.
AB is expanding its active ETF offerings, currently at $10 billion in AUM across 20 strategies , and is growing its presence in the defined contribution market, managing $105 billion in assets.
The institutional pipeline includes $12 billion in wins, primarily in private credit, expected to be deployed over the next 12-18 months.
AB maintains a durable fee rate in the 38-39 basis points range and an operating margin of 33%-34%, supported by expense control and offshore hiring initiatives.

Dec 9, 2025, 5:20 PM

Transcript

AllianceBernstein Announces October 2025 Assets Under Management

AllianceBernstein (AB) reported that its preliminary Assets Under Management (AUM) increased during October 2025.
Total AUM reached $869 billion as of October 31, 2025, marking a 1% increase from $860 billion at the end of September 2025.
This growth was primarily driven by market appreciation and modest net inflows.
Institutional net inflows were partially offset by retail net outflows and slight net outflows from private wealth during October.

Nov 12, 2025, 12:35 PM

8-K

AllianceBernstein Announces October 2025 Assets Under Management

Demand Weakening

AllianceBernstein's preliminary assets under management (AUM) increased by 1% to $869 billion in October 2025, up from $860 billion at the end of September 2025.
This AUM growth was primarily driven by market appreciation and modest net inflows, although retail net outflows and slight net outflows from private wealth partially offset these gains during October.
As of September 30, 2025, AllianceBernstein Holding owned approximately 30.8% of AllianceBernstein, with Equitable Holdings, Inc. holding an approximate 68.5% economic interest.

Nov 11, 2025, 9:05 PM

Press Release

AllianceBernstein Launches Two New Fixed Income ETFs

Product Launch

New Projects/Investments

AllianceBernstein Holding L.P. (AB) launched two actively managed exchange-traded funds (ETFs), AB New York Intermediate Municipal ETF ("NYM") and AB Core Bond ETF ("CORB"), on the New York Stock Exchange on November 10, 2025.
The NYM fund aims to provide safety of principal and maximize total return after federal, state, and local taxes for New York residents, while the CORB fund seeks safety of principal and a moderate to high rate of current income.
This launch enhances AB's Active Fixed Income ETF lineup, which already boasts over $5.5 billion in Active Fixed Income ETFs, contributing to their overall ETF platform that has surpassed $10 billion in Active ETF AUM.
AB's municipal platform has demonstrated significant growth, with assets under management (AUM) increasing from $35 billion in 2016 to over $83 billion as of August 31, 2025.
As of September 30, 2025, AllianceBernstein's total assets under management stood at $860 billion.

Nov 10, 2025, 12:30 PM

Press Release

AllianceBernstein Reports Record AUM and Strong Q3 2025 Financial Performance

Earnings

Guidance Update

New Projects/Investments

AllianceBernstein's firm-wide assets under management (AUM) reached a new milestone of $860 billion as of Q3 2025, with positive net flows of $1.7 billion excluding a $4 billion outflow related to a reinsurance deal.
The company reported strong financial results for Q3 2025, with adjusted earnings of $0.86 per unit, marking a 12% increase compared to the prior year, and net revenues of $885 million, a 5% increase year-over-year.
Profitability improved significantly, as operating income rose 15% to $303 million, leading to an adjusted operating margin of 34.2%, which is a 209 basis point increase from the prior year.
Strategic growth areas include private markets, which generated nearly $3 billion in net inflows and now account for nearly $80 billion in AUM, and tax-exempt fixed income, which saw over $4 billion in inflows.
Management updated its full-year 2025 guidance, lowering non-compensation expense projections to $600 million-$610 million and raising the total performance fee guide to $130 million-$155 million.

Oct 23, 2025, 2:00 PM

Transcript

AllianceBernstein Reports Strong Q3 2025 Financial Results and Raises Full-Year Performance Fee Guidance

Earnings

Guidance Update

New Projects/Investments

AllianceBernstein reported strong Q3 2025 financial performance, with adjusted earnings per unit of $0.86, a 12% increase compared to the prior year, and net revenues of $885 million, up 5% year-over-year.
The company achieved an adjusted operating margin of 34.2% in Q3 2025, a 209 basis point increase from the prior year, and lowered its full-year 2025 non-compensation expense projection to $600 million to $610 million.
AB raised its full-year performance fee guide to $130 million to $155 million from its prior guide of $110 million to $130 million.
Strategic initiatives include deploying approximately $17 billion of Equitable's $20 billion capital commitment to AB private market strategies and a new partnership with Fortitude in FCA REIT, which is expected to manage $1.5 billion in private credit. The firm aims for $90 billion to $100 billion in private markets AUM by 2027.
The firm's ETF platform exceeded $10 billion as of October, and its custom target date business manages approximately $105 billion in assets under management across 27 global clients.