On October 23, 2025, AllianceBernstein Holding L.P. announced its third‑quarter 2025 financial results. The company reported GAAP net income of $0.79 per unit and adjusted net income of $0.86 per unit, with a cash distribution of $0.86 per unit. Total assets under management reached $860.1 billion, up 4 % from the June 30, 2025 level of $829.1 billion.
Net revenues for the quarter were $1,137,147 thousand, and operating income was $283,477 thousand, giving an operating margin of 24.3 %. Adjusted operating income rose to $302,367 thousand, raising the adjusted operating margin to 34.2 %. Net cash flows were negative $2.3 billion, compared with a $1.1 billion net inflow in the same quarter of 2024. The company recorded $3.2 billion in private‑market inflows, $4.1 billion in tax‑exempt inflows, and $3.2 billion in institutional deployments.
The results demonstrate continued margin expansion and AUM growth, with a 12 % increase in adjusted earnings per unit and a corresponding rise in distributions. The focus on private markets and tax‑exempt strategies is driving inflows that support the firm’s target of $90‑$100 billion in private‑market AUM by 2027. The strong performance reinforces investor confidence in AllianceBernstein’s disciplined capital allocation and operational efficiency.
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