ALLIANCEBERNSTEIN HOLDING L.P. (AB) SEC Filings

AllianceBernstein Holding L.P. and its operating partnership, AllianceBernstein L.P., reported third-quarter 2026 results. GAAP net revenues were $1.226 billion, up 7.8% year over year, while operating income was $249.5 million, down 12.0%. GAAP operating margin fell to 21.9% from 24.3%, and GAAP net income per Unit was $0.79, unchanged. Adjusted net revenues rose 2.2% to $904.3 million; adjusted operating income increased 0.1% to $302.7 million, and adjusted net income per Unit rose 2.3% to $0.88.

Assets under management ended the quarter at $900.4 billion, with $6.6 billion of net inflows. Institutional inflows of $15.7 billion accompanied retail outflows of $8.4 billion and private-wealth outflows of $0.7 billion. Private markets AUM reached $105 billion, up 33% year over year. AB Holding's cash distribution was $0.88 per Unit, payable November 19, 2026, to holders of record November 6, 2026.

AllianceBernstein Holding L.P. and its operating partnership, AllianceBernstein L.P., announced preliminary assets under management of $900 billion at September 30, 2026, compared with $919 billion at August 31, 2026. The month-end AUM decline was 2%, primarily driven by market depreciation, coupled with net outflows. For the quarter ended September 30, 2026, preliminary firmwide net inflows totaled approximately $6.0 billion.

At September 30, 2026, AUM by client channel was $383 billion for Institutions, $352 billion for Retail and $165 billion for Private Wealth. By asset group, total equity was $356 billion, total fixed income was $315 billion, and Alternatives/Multi-Asset Solutions was $229 billion. The last category includes certain multi-asset solutions and services not included in equity or fixed income services.

AllianceBernstein Holding L.P. (AB) seeks unitholder approval of a 2026 Long Term Incentive Plan authorizing up to 60 million AB Holding Units, all of which may be reacquired through open-market or private purchases, and up to 30 million newly issued. If approved, it would take effect November 30, 2026, for 10 years. Service-based restricted awards must vest over at least three years, with no more than 50% vesting in year one except specified exceptions; options cannot be repriced without unitholder approval.

AB estimates maximum potential dilution at the AllianceBernstein level of approximately 9.4%, including existing 2017 Plan awards and future awards. It expects to repurchase enough units to support all or a majority of awards, depending in part on available cash. As of September 24, 2026, 19,494,934 units remained available under the 2017 Plan, which AB says is sufficient for anticipated 2026 awards; that plan expires in September 2027. The virtual meeting is November 18, 2026; holders of record September 24 may vote, and approval requires a majority of votes cast. The Board unanimously recommends FOR. Seth Bernstein’s retirement as CEO is effective March 31, 2027, and Onur Erzan’s CEO appointment is effective April 1, 2027.

AllianceBernstein Holding L.P. said Onur Erzan will become AB’s President and Chief Executive Officer effective April 1, 2027, succeeding Seth Bernstein, whose retirement takes effect March 31, 2027. Bernstein will remain on AB’s Board of Directors, and Erzan will join it when he assumes the role.

Bernstein’s agreement provides an appreciation grant of restricted AB Holding Unit Awards with a $2.5 million grant-date fair value and three-year annual vesting, to be issued on or about March 31, 2027, plus a $1.0 million 2026 Equitable Holdings long-term incentive award to be issued in the second quarter of 2027. Subject to compliance with the agreement, he is also entitled to 26 weeks of salary continuation totaling $325,000.

Erzan’s offer letter sets a fiscal 2027 total compensation target of $13.5 million, as determined by the Compensation Committee of AB’s Board, including a $650,000 base salary effective January 1, 2027. AB reported more than $919 billion in assets under management as of August 31, 2026.

ALLIANCEBERNSTEIN HOLDING L.P. (AB) reported that its operating partnership, AllianceBernstein L.P., had preliminary assets under management (AUM) of $919 billion as of August 31, 2026, up from $908 billion at July 31, 2026, a 1.2% increase driven by market appreciation, partially offset by net outflows. Institutional and Private Wealth channels generated net inflows, while Retail saw net outflows.

By asset class at August 31, 2026, Equity AUM was $364 billion, Fixed Income AUM was $323 billion, and Alternatives/Multi-Asset Solutions AUM was $232 billion. By channel, AUM totaled $388 billion for Institutions, $362 billion for Retail, and $169 billion for Private Wealth. As of June 30, 2026, AB Holding owned approximately 31.3% of AllianceBernstein, while Equitable Holdings, Inc. held an approximate 68.1% economic interest in AllianceBernstein.

AllianceBernstein Holding L.P. reported that preliminary assets under management rose to $909 billion as of July 31, 2026, from $906 billion at June 30, 2026. Management attributes the increase to firmwide net inflows, which more than offset unfavorable market movements during the month.

By client channel, Institutions recorded strong net inflows, supported by a previously announced $12 billion commercial mortgage loans mandate. Private Wealth generated modest net inflows, while the Retail channel saw net outflows. As of July 31, assets by channel were $382 billion in Institutions, $360 billion in Retail, and $167 billion in Private Wealth.

By asset class, total equity assets were $360 billion, fixed income assets were $320 billion, and Alternatives/Multi-Asset Solutions totaled $229 billion. The company highlights typical risks and uncertainties around forward-looking statements and notes that, as of June 30, 2026, AllianceBernstein Holding owned approximately 31.3% of AllianceBernstein, while Equitable Holdings held about a 68.1% economic interest.

AllianceBernstein Holding L.P. director Charles G.T. Stonehill reported a sale of 5,000 AB Holding Units on 2026-08-04 at an average price of about $37.17 per unit in an open-market or private transaction. After this sale, he directly holds 24,573 AB Holding Units.

AllianceBernstein Holding L.P., whose income comes from its interest in AllianceBernstein L.P. (AB), reported net income of $71,717 (in thousands) for the three months ended June 30, 2026, up from $70,248, and $156,955 for the first half, up from $144,282. Net income per Unit rose to $0.77 from $0.64 for the quarter and to $1.69 from $1.31 year to date. AB’s net income attributable to its Unitholders increased to $255,222 and $550,707 (in thousands) for the quarter and first half, increases of 21.3% and 27.7%.

AB Holding declared a distribution of $0.82 per Unit for the quarter, versus $0.76 a year earlier, payable August 27, 2026. Operating cash flow for the first six months was $165,438 (in thousands), down from $203,922, driven by lower cash distributions from AB. The partnership repurchased or retained 0.8 million AB Holding Units for $28.7 million in the first half while issuing 1.6 million restricted Unit awards. Management states that cash flow from AB should allow AB Holding to meet its obligations and reiterates that loss of publicly-traded partnership tax status could materially reduce net income and distributions.