AllianceBernstein Holding (AB) 10-Q24 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page	9 Months Ended
Cover Page	Sep. 30, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-09818
Entity Registrant Name	ALLIANCEBERNSTEIN HOLDING L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3434400
Entity Address, Address Line One	501 Commerce Street
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37203
City Area Code	615
Local Phone Number	622-0000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Units Rep. Assignments of Beneficial Ownership of LP Interests in AB Holding ("Units")
Trading Symbol	AB
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	113,435,357
Entity Central Index Key	0000825313
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Statements of Financi

Condensed Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Investment in AB	$ 2,098,703	$ 2,077,540
Other assets	147	0
Total assets	2,098,850	2,077,540
Liabilities:
Other liabilities	719	1,295
Total liabilities	719	1,295
Commitments and contingencies (See Note 8)
Partners’ capital:
General Partner: 100,000 general partnership units issued and outstanding	1,384	1,327
Limited partners: 113,335,357 and 114,336,091 limited partnership units issued and outstanding	2,165,060	2,147,147
AB Holding Units held by AB to fund long-term incentive compensation plans	(33,390)	(30,185)
Accumulated other comprehensive (loss)	(34,923)	(42,044)
Total partners’ capital	2,098,131	2,076,245
Total liabilities and partners’ capital	$ 2,098,850	$ 2,077,540

Condensed Statements of Finan_2

Condensed Statements of Financial Condition (Parenthetical) - shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
General partner units issued (in shares)	100,000	100,000
General partner units outstanding (in units)	100,000	100,000
Limited partners units issued (in shares)	113,335,357	114,336,091
Limited partners units outstanding (in shares)	113,335,357	114,336,091

Condensed Statements of Income

Condensed Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Condensed Statements of Income - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Equity in net income attributable to AB Unitholders	$ 136,374	$ 65,761	$ 345,360	$ 211,264
Income taxes	9,179	8,770	27,420	26,278
Net income	$ 127,195	$ 56,991	$ 317,940	$ 184,986
Net income per unit:
Basic (in dollars per share)	$ 1.12	$ 0.50	$ 2.77	$ 1.63
Diluted (in dollars per share)	$ 1.12	$ 0.50	$ 2.77	$ 1.63

Condensed Statements of Compreh

Condensed Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 127,195	$ 56,991	$ 317,940	$ 184,986
Other comprehensive income (loss):
Foreign currency translation adjustments, before reclassification and tax:	7,521	(5,816)	2,785	(1,580)
Less: reclassification adjustment for (losses) in net income upon liquidation	0	0	(4,039)	0
Foreign currency translation adjustment, before tax	7,521	(5,816)	6,824	(1,580)
Income tax (expense)	(48)	(85)	(29)	(57)
Foreign currency translation adjustments, net of tax	7,473	(5,901)	6,795	(1,637)
Changes in employee benefit related items:
Amortization of prior service cost	3	5	8	10
Recognized actuarial gain	111	254	320	508
Changes in employee benefit related items	114	259	328	518
Income tax benefit (expense)	1	(1)	(2)	(3)
Employee benefit related items, net of tax	115	258	326	515
Other comprehensive income (loss)	7,588	(5,643)	7,121	(1,122)
Comprehensive income	$ 134,783	$ 51,348	$ 325,061	$ 183,864

Condensed Statements of Changes

Condensed Statements of Changes in Partners’ Capital - USD ($) $ in Thousands	Total	AB Holding Units held by AB to fund long-term incentive compensation plans	Accumulated Other Comprehensive (Loss)	General Partner’s Capital	Limited Partners’ Capital
Balance, beginning of period at Dec. 31, 2022		$ (37,551)	$ (51,008)	$ 1,355	$ 2,160,207
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 184,986			163	184,823
Cash distributions to Unitholders				(197)	(223,482)
Retirement of AB Holding Units					(72,592)
Issuance of AB Holding Units to fund long-term incentive compensation plan awards					8,005
Change in AB Holding Units held by AB to fund long-term incentive compensation plans		3,893
Foreign currency translation adjustment, net of tax	(1,637)		(1,637)
Changes in employee benefit related items, net of tax	515		515
Balance, end of period at Sep. 30, 2023	1,972,494	(33,658)	(52,130)	1,321	2,056,961
Balance, beginning of period at Jun. 30, 2023		(35,152)	(46,487)	1,332	2,124,142
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	56,991			51	56,940
Cash distributions to Unitholders				(62)	(69,271)
Retirement of AB Holding Units					(55,168)
Issuance of AB Holding Units to fund long-term incentive compensation plan awards					318
Change in AB Holding Units held by AB to fund long-term incentive compensation plans		1,494
Foreign currency translation adjustment, net of tax	(5,901)		(5,901)
Changes in employee benefit related items, net of tax	258		258
Balance, end of period at Sep. 30, 2023	1,972,494	(33,658)	(52,130)	1,321	2,056,961
Balance, beginning of period at Dec. 31, 2023	2,076,245	(30,185)	(42,044)	1,327	2,147,147
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	317,940			278	317,662
Cash distributions to Unitholders				(221)	(253,702)
Retirement of AB Holding Units	(66,477)				(66,477)
Issuance of AB Holding Units to fund long-term incentive compensation plan awards	20,430				20,430
Change in AB Holding Units held by AB to fund long-term incentive compensation plans		(3,205)
Foreign currency translation adjustment, net of tax	6,795		6,795
Changes in employee benefit related items, net of tax	326		326
Balance, end of period at Sep. 30, 2024	2,098,131	(33,390)	(34,923)	1,384	2,165,060
Balance, beginning of period at Jun. 30, 2024		(36,646)	(42,511)	1,343	2,162,868
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	127,195			112	127,083
Cash distributions to Unitholders				(71)	(81,141)
Retirement of AB Holding Units					(44,063)
Issuance of AB Holding Units to fund long-term incentive compensation plan awards					313
Change in AB Holding Units held by AB to fund long-term incentive compensation plans		3,256
Foreign currency translation adjustment, net of tax	7,473		7,473
Changes in employee benefit related items, net of tax	115		115
Balance, end of period at Sep. 30, 2024	$ 2,098,131	$ (33,390)	$ (34,923)	$ 1,384	$ 2,165,060

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Condensed Statements of Cash Flows - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 127,195	$ 56,991	$ 317,940	$ 184,986
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net income attributable to AB Unitholders	(136,374)	(65,761)	(345,360)	(211,264)
Cash distributions received from AB			281,164	248,529
Changes in assets and liabilities:
(Increase) in other assets			(147)	0
(Decrease) in other liabilities			(576)	(1,071)
Net cash provided by operating activities			253,021	221,180
Cash flows from financing activities:
Cash distributions to Unitholders			(253,923)	(223,679)
Capital contributions from AB			902	2,499
Net cash used in financing activities			(253,021)	(221,180)
Change in cash and cash equivalents			0	0
Cash and cash equivalents as of beginning of period			0	0
Cash and cash equivalents as of end of period	$ 0	$ 0	$ 0	$ 0

Business Description, Organizat

Business Description, Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description, Organization and Basis of Presentation	Business Description, Organization and Basis of Presentation Business Description (1) AB Holding’s principal source of income and cash flow is attributable to its investment in AB limited partnership interests. The condensed financial statements and notes of AB Holding should be read in conjunction with the condensed consolidated financial statements and notes of AB included as an exhibit to this quarterly report on Form 10-Q and with AB Holding’s and AB’s audited financial statements included in AB Holding’s Form 10-K for the year ended December 31, 2023. AB provides diversified investment management and related services globally to a broad range of clients. Its principal services include: • Institutional Services – servicing its institutional clients, including private and public pension plans, foundations and endowments, insurance companies, central banks and governments worldwide, and affiliates such as Equitable Holdings, Inc. ("EQH") and its subsidiaries, by means of separately managed accounts, sub-advisory relationships, structured products, collective investment trusts, mutual funds, hedge funds and other investment vehicles. • Retail Services – servicing its retail clients, primarily by means of retail mutual funds sponsored by AB or an affiliated company, sub-advisory relationships with mutual funds sponsored by third parties, separately managed account programs sponsored by financial intermediaries worldwide and other investment vehicles. • Private Wealth Services – servicing its private clients, including high-net-worth individuals and families, trusts and estates, charitable foundations, partnerships, private and family corporations, and other entities, by means of separately managed accounts, hedge funds, mutual funds and other investment vehicles. AB also provides distribution, shareholder servicing, transfer agency services and administrative services to certain of the mutual funds it sponsors. AB’s high-quality, in-depth research is the foundation of its asset management and private wealth management businesses. AB’s research disciplines include economic, fundamental equity, fixed income and quantitative research. AB has expertise in multi-asset strategies, wealth management, environmental, social and corporate governance ("ESG"), and alternative investments. AB provides a broad range of investment services with expertise in: • Actively managed equity strategies across global and regional universes, as well as capitalization ranges, concentration ranges and investment strategies, including value, growth and core equities; • Actively-managed traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; • Actively-managed alternative investments, including fundamental and systematically-driven hedge funds, fund of hedge funds and direct assets (e.g., direct lending, real estate and private equity); • Portfolios with Purpose, including Sustainable, Impact and Responsible+ (Climate-Conscious and ESG leaders) equity, fixed income and multi-asset strategies that address our clients' desire to invest their capital with a dedicated ESG focus, while pursuing strong investment returns; • Multi-asset services and solutions, including dynamic asset allocation, customized target-date funds and target-risk funds; and • Passively managed equity and fixed income strategies, including index, ESG index and enhanced index strategies. Organization As of September 30, 2024, EQH owned approximately 4.0% of the issued and outstanding units representing assignments of beneficial ownership of limited partnership interests in AB Holding (“AB Holding Units”). AllianceBernstein Corporation (an indirect wholly-owned subsidiary of EQH, “General Partner”) is the general partner of both AB Holding and AB. AllianceBernstein Corporation owns 100,000 general partnership units in AB Holding and a 1.0% general partnership interest in AB. As of September 30, 2024, the ownership structure of AB, expressed as a percentage of general and limited partnership interests, was as follows: EQH and its subsidiaries 60.0 % AB Holding 39.3 Unaffiliated holders 0.7 100.0 % Including both the general partnership and limited partnership interests in AB Holding and AB, EQH and its subsidiaries had an approximate 61.6% economic interest in AB as of September 30, 2024. Basis of Presentation The interim condensed financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the interim results, have been made. The preparation of the condensed financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed financial statements and the reported amounts of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates. The condensed statement of financial condition as of December 31, 2023 was derived from audited financial statements. Certain disclosures included in the annual financial statements have been condensed or omitted from these financial statements as they are not required for interim financial statements under principles generally accepted in the United States of America ("GAAP") and the rules of the SEC. AB Holding records its investment in AB using the equity method of accounting. AB Holding’s investment is increased to reflect its proportionate share of income of AB and decreased to reflect its proportionate share of losses of AB and cash distributions made by AB to its Unitholders. In addition, AB Holding's investment is adjusted to reflect its proportionate share of certain capital transactions of AB. Subsequent Events We have evaluated subsequent events through the date that these financial statements were filed with the SEC and did not identify any subsequent events that would require disclosure in these financial statements. (1) On April 1, 2024 AB and Societe Generale, a leading European bank, completed their transaction to form a jointly owned equity research provider and cash equity trading partner for institutional investors. AB contributed the Bernstein Research Services cash equities business to the joint venture. For further discussion, see Note 17 Divestiture to AB's condensed consolidated financial statements attached hereto as Exhibit 99.1 .

Cash Distributions

Cash Distributions	9 Months Ended
Cash Distributions	Sep. 30, 2024
Equity [Abstract]
Cash Distributions	Cash Distributions AB Holding is required to distribute all of its Available Cash Flow, as defined in the Amended and Restated Agreement of Limited Partnership of AB Holding (“AB Holding Partnership Agreement”), to its Unitholders pro rata in accordance with their percentage interests in AB Holding. Available Cash Flow is defined as the cash distributions AB Holding receives from AB minus such amounts as the General Partner determines, in its sole discretion, should be retained by AB Holding for use in its business (such as the payment of taxes) or plus such amounts as the General Partner determines, in its sole discretion, should be released from previously retained cash flow.

Long-term Incentive Compensatio

Long-term Incentive Compensation Plans	9 Months Ended
Long-term Incentive Compensation Plans	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Long-term Incentive Compensation Plans	Long-term Incentive Compensation Plans AB maintains several unfunded, non-qualified long-term incentive compensation plans, under which the company grants awards of restricted AB Holding Units to its employees and members of the Board of Directors, who are not employed by AB or by any of AB’s affiliates (“Eligible Directors”). AB funds its restricted AB Holding Unit awards either by purchasing AB Holding Units on the open market or purchasing newly-issued AB Holding Units from AB Holding, and then keeping these AB Holding Units in a consolidated rabbi trust until delivering them or retiring them. In accordance with the AB Holding Partnership Agreement, when AB purchases newly-issued AB Holding Units from AB Holding, AB Holding is required to use the proceeds it receives from AB to purchase the equivalent number of newly-issued AB Units, thus increasing its percentage ownership interest in AB. AB Holding Units held in the consolidated rabbi trust are corporate assets in the name of the trust and are available to the general creditors of AB. Repurchases of AB Holding Units for the three and nine months ended September 30, 2024 and 2023 consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Total amount of AB Holding Units Purchased (1) 1.1 1.8 2.1 2.3 Total Cash Paid for AB Holding Units Purchased (1) $ 38.6 $ 56.9 $ 71.7 $ 75.7 Open Market Purchases of AB Holding Units Purchased (1) 1.1 1.8 1.8 1.8 Total Cash Paid for Open Market Purchases of AB Holding Units (1) $ 38.6 $ 56.9 $ 60.1 $ 56.9 (1) Purchased on a trade date basis. The difference between open-market purchases and units retained reflects the retention of AB Holding Units from employees to fulfill statutory tax withholding requirements at the time of delivery of long-term incentive compensation awards. Each quarter, AB considers whether to implement a plan to repurchase AB Holding Units pursuant to Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended (“Exchange Act”). A plan of this type allows a company to repurchase its shares at times when it otherwise might be prevented from doing so because of self-imposed trading blackout periods or because it possesses material non-public information. Each broker selected by AB has the authority under the terms and limitations specified in the plan to repurchase AB Holding Units on AB’s behalf. Repurchases are subject to regulations promulgated by the SEC as well as certain price, market volume and timing constraints specified in the plan. The plan adopted during the third quarter of 2024 expired at the close of business on October 23, 2024. AB may adopt plans in the future to engage in open-market purchases of AB Holding Units to help fund anticipated obligations under its incentive compensation award program and for other corporate purposes. During the first nine months of 2024 and 2023, AB awarded to employees and Eligible Directors 1.2 million and 0.4 million restricted AB Holding Unit awards, respectively. AB used AB Holding Units repurchased during the applicable period and newly-issued AB Holding Units to fund these restricted AB Holding Unit awards.

Net Income per Unit

Net Income per Unit	9 Months Ended
Net Income per Unit	Sep. 30, 2024
Earnings Per Unit [Abstract]
Net Income per Unit	Net Income per Unit Basic net income per unit is derived by dividing net income by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by adjusting net income for the assumed dilutive effect of compensatory options (“Net income – diluted”) and dividing by the diluted weighted average number of units outstanding for each period. Three Months Ended September 30, Nine Months Ended 2024 2023 2024 2023 (in thousands, except per unit amounts) Net income – basic $ 127,195 $ 56,991 $ 317,940 $ 184,986 Net income – diluted $ 127,195 $ 56,991 $ 317,940 $ 184,986 Weighted average units outstanding – basic 114,042 113,185 114,592 113,407 Weighted average units outstanding – diluted 114,042 113,185 114,592 113,407 Basic net income per unit $ 1.12 $ 0.50 $ 2.77 $ 1.63 Diluted net income per unit $ 1.12 $ 0.50 $ 2.77 $ 1.63 There were no anti-dilutive options excluded from diluted net income in the three and nine months ended September 30, 2024 or 2023.

Investment in AB

Investment in AB	9 Months Ended
Investment in AB	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investment in AB	Investment in AB Changes in AB Holding’s investment in AB during the nine-month period ended September 30, 2024 are as follows (in thousands): Investment in AB as of December 31, 2023 $ 2,077,540 Equity in net income attributable to AB Unitholders 345,360 Changes in accumulated other comprehensive income 7,121 Cash distributions received from AB (281,164) Capital contributions (from) AB (902) AB Holding Units retired (66,477) AB Holding Units issued to fund long-term incentive compensation plans 20,430 Change in AB Holding Units held by AB for long-term incentive compensation plans (3,205) Investment in AB as of September 30, 2024 $ 2,098,703

Units Outstanding

Units Outstanding	9 Months Ended
Units Outstanding	Sep. 30, 2024
Equity [Abstract]
Units Outstanding	Units Outstanding Changes in AB Holding Units outstanding during the nine-month period ended September 30, 2024 are as follows: Outstanding as of December 31, 2023 114,436,091 Units issued 859,586 Units retired (1,860,320) Outstanding as of September 30, 2024 113,435,357

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes AB Holding is a publicly-traded partnership (“PTP”) for federal tax purposes and, accordingly, is not subject to federal or state corporate income taxes. However, AB Holding is subject to the 4.0% New York City unincorporated business tax (“UBT”), net of credits for UBT paid by AB, and to a 3.5% federal tax on partnership gross income from the active conduct of a trade or business. AB Holding’s partnership gross income is derived from its interest in AB. AB Holding’s federal income tax is computed by multiplying certain AB qualifying revenues by AB Holding’s ownership interest in AB, multiplied by the 3.5% tax rate. Certain AB qualifying revenues are primarily U.S. investment advisory fees, research payments and brokerage commissions. AB Holding Units in AB’s consolidated rabbi trust are not considered outstanding for purposes of calculating AB Holding’s ownership interest in AB. Three Months Ended September 30, Nine Months Ended 2024 2023 % Change 2024 2023 % Change (in thousands) (in thousands) Net income attributable to AB Unitholders $ 345,972 $ 167,404 106.7 % $ 873,471 $ 537,292 62.6 % Multiplied by: weighted average equity ownership interest 39.4 % 39.3 % 39.5 % 39.3 % Equity in net income attributable to AB Unitholders $ 136,374 $ 65,761 107.4 $ 345,360 $ 211,264 63.5 AB qualifying revenues $ 713,242 $ 689,323 3.5 $ 2,099,807 $ 2,059,866 1.9 Multiplied by: weighted average equity ownership interest for calculating tax 35.7 % 35.6 % 36.4 % 35.7 % Multiplied by: federal tax 3.5 % 3.5 % 3.5 % 3.5 % Federal income taxes 8,924 8,593 26,728 25,713 State income taxes 255 177 692 565 Total income taxes $ 9,179 $ 8,770 4.7 % $ 27,420 $ 26,278 4.3 % Effective tax rate 6.7 % 13.3 % 7.9 % 12.4 % In order to preserve AB Holding’s status as a PTP for federal income tax purposes, management ensures that AB Holding does not directly or indirectly (through AB) engage in a substantial new line of business. If AB Holding were to lose its status as a PTP, it would be subject to corporate income tax, which would reduce materially AB Holding’s net income and its quarterly distributions to AB Holding Unitholders.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal and regulatory matters described below pertain to AB and are included here due to their potential significance to AB Holding’s investment in AB. With respect to all significant litigation matters, we consider the likelihood of a negative outcome. If we determine the likelihood of a negative outcome is probable and the amount of the loss can be reasonably estimated, we record an estimated loss for the expected outcome of the litigation. If the likelihood of a negative outcome is reasonably possible and we are able to determine an estimate of the possible loss or range of loss in excess of amounts already accrued, if any, we disclose that fact together with the estimate of the possible loss or range of loss. However, it is often difficult to predict the outcome or estimate a possible loss or range of loss because litigation is subject to inherent uncertainties, particularly when plaintiffs allege substantial or indeterminate damages. Such is also the case when the litigation is in its early stages or when the litigation is highly complex or broad in scope. In these cases, we disclose that we are unable to predict the outcome or estimate a possible loss or range of loss. AB may be involved in various matters, including regulatory inquiries, administrative proceedings and litigation, some of which may allege significant damages. It is reasonably possible that we could incur losses pertaining to these other matters, but we cannot currently estimate any such losses, or a range of reasonably possible losses. Management, after consultation with legal counsel, currently believes that the outcome of any other individual matter that is pending or threatened, or all of them combined, will not have a material adverse effect on our results of operations, financial condition or liquidity. However, any inquiry, proceeding or litigation has an element of uncertainty; management cannot determine whether further developments relating to any other individual matter that is pending or threatened, or all of them combined, will have a material adverse effect on our results of operation, financial condition or liquidity in any future reporting period.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 127,195	$ 56,991	$ 317,940	$ 184,986

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business Description, Organiz_2

Business Description, Organization and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the interim results, have been made. The preparation of the condensed financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed financial statements and the reported amounts of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates. The condensed statement of financial condition as of December 31, 2023 was derived from audited financial statements. Certain disclosures included in the annual financial statements have been condensed or omitted from these financial statements as they are not required for interim financial statements under principles generally accepted in the United States of America ("GAAP") and the rules of the SEC. AB Holding records its investment in AB using the equity method of accounting. AB Holding’s investment is increased to reflect its proportionate share of income of AB and decreased to reflect its proportionate share of losses of AB and cash distributions made by AB to its Unitholders. In addition, AB Holding's investment is adjusted to reflect its proportionate share of certain capital transactions of AB.
Subsequent Events	Subsequent Events We have evaluated subsequent events through the date that these financial statements were filed with the SEC and did not identify any subsequent events that would require disclosure in these financial statements. (1) On April 1, 2024 AB and Societe Generale, a leading European bank, completed their transaction to form a jointly owned equity research provider and cash equity trading partner for institutional investors. AB contributed the Bernstein Research Services cash equities business to the joint venture. For further discussion, see Note 17 Divestiture to AB's condensed consolidated financial statements attached hereto as Exhibit 99.1 .

Business Description, Organiz_3

Business Description, Organization and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Ownership Structure of AllianceBernstein	As of September 30, 2024, the ownership structure of AB, expressed as a percentage of general and limited partnership interests, was as follows: EQH and its subsidiaries 60.0 % AB Holding 39.3 Unaffiliated holders 0.7 100.0 %

Long-term Incentive Compensat_2

Long-term Incentive Compensation Plans (Tables)	9 Months Ended
Long-term Incentive Compensation Plans (Tables)	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Unit Award Repurchase Activity	Repurchases of AB Holding Units for the three and nine months ended September 30, 2024 and 2023 consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Total amount of AB Holding Units Purchased (1) 1.1 1.8 2.1 2.3 Total Cash Paid for AB Holding Units Purchased (1) $ 38.6 $ 56.9 $ 71.7 $ 75.7 Open Market Purchases of AB Holding Units Purchased (1) 1.1 1.8 1.8 1.8 Total Cash Paid for Open Market Purchases of AB Holding Units (1) $ 38.6 $ 56.9 $ 60.1 $ 56.9 (1) Purchased on a trade date basis. The difference between open-market purchases and units retained reflects the retention of AB Holding Units from employees to fulfill statutory tax withholding requirements at the time of delivery of long-term incentive compensation awards.

Net Income per Unit (Tables)

Net Income per Unit (Tables)	9 Months Ended
Net Income per Unit (Tables)	Sep. 30, 2024
Earnings Per Unit [Abstract]
Schedule of Earnings Per Unit, Basic and Diluted	Basic net income per unit is derived by dividing net income by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by adjusting net income for the assumed dilutive effect of compensatory options (“Net income – diluted”) and dividing by the diluted weighted average number of units outstanding for each period. Three Months Ended September 30, Nine Months Ended 2024 2023 2024 2023 (in thousands, except per unit amounts) Net income – basic $ 127,195 $ 56,991 $ 317,940 $ 184,986 Net income – diluted $ 127,195 $ 56,991 $ 317,940 $ 184,986 Weighted average units outstanding – basic 114,042 113,185 114,592 113,407 Weighted average units outstanding – diluted 114,042 113,185 114,592 113,407 Basic net income per unit $ 1.12 $ 0.50 $ 2.77 $ 1.63 Diluted net income per unit $ 1.12 $ 0.50 $ 2.77 $ 1.63

Investment in AB (Tables)

Investment in AB (Tables)	9 Months Ended
Investment in AB (Tables)	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Summary of Changes in Investment in AB	Changes in AB Holding’s investment in AB during the nine-month period ended September 30, 2024 are as follows (in thousands): Investment in AB as of December 31, 2023 $ 2,077,540 Equity in net income attributable to AB Unitholders 345,360 Changes in accumulated other comprehensive income 7,121 Cash distributions received from AB (281,164) Capital contributions (from) AB (902) AB Holding Units retired (66,477) AB Holding Units issued to fund long-term incentive compensation plans 20,430 Change in AB Holding Units held by AB for long-term incentive compensation plans (3,205) Investment in AB as of September 30, 2024 $ 2,098,703

Units Outstanding (Tables)

Units Outstanding (Tables)	9 Months Ended
Units Outstanding (Tables)	Sep. 30, 2024
Equity [Abstract]
Changes in Holding Units Outstanding	Changes in AB Holding Units outstanding during the nine-month period ended September 30, 2024 are as follows: Outstanding as of December 31, 2023 114,436,091 Units issued 859,586 Units retired (1,860,320) Outstanding as of September 30, 2024 113,435,357

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Computation of Effective Income Tax Rate and Changes in Components of Income Tax	Three Months Ended September 30, Nine Months Ended 2024 2023 % Change 2024 2023 % Change (in thousands) (in thousands) Net income attributable to AB Unitholders $ 345,972 $ 167,404 106.7 % $ 873,471 $ 537,292 62.6 % Multiplied by: weighted average equity ownership interest 39.4 % 39.3 % 39.5 % 39.3 % Equity in net income attributable to AB Unitholders $ 136,374 $ 65,761 107.4 $ 345,360 $ 211,264 63.5 AB qualifying revenues $ 713,242 $ 689,323 3.5 $ 2,099,807 $ 2,059,866 1.9 Multiplied by: weighted average equity ownership interest for calculating tax 35.7 % 35.6 % 36.4 % 35.7 % Multiplied by: federal tax 3.5 % 3.5 % 3.5 % 3.5 % Federal income taxes 8,924 8,593 26,728 25,713 State income taxes 255 177 692 565 Total income taxes $ 9,179 $ 8,770 4.7 % $ 27,420 $ 26,278 4.3 % Effective tax rate 6.7 % 13.3 % 7.9 % 12.4 %

Business Description, Organiz_4

Business Description, Organization and Basis of Presentation (Details) - shares	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Ownership structure of AB Holding
Units outstanding (in shares)	100,000	100,000
AB Holding \| EQH
Ownership structure of AB Holding
General partnership interest (percent)	4%
AB Holding \| AllianceBernstein Corporation
Ownership structure of AB Holding
General partnership interest (percent)	1%
Units outstanding (in shares)	100,000
AB \| EQH and its subsidiaries
Ownership structure of AB Holding
General partnership interest (percent)	61.60%

Business Description, Organiz_5

Business Description, Organization and Basis of Presentation - Limited Partnership Interests in AB Holdings (Details) - AllianceBernstein Corporation	9 Months Ended
	Sep. 30, 2024
EQH and its subsidiaries
Distribution Made to Limited Partner [Line Items]
Limited partners or members ownership interest in Company (percent)	60%
AB Holding
Distribution Made to Limited Partner [Line Items]
Limited partners or members ownership interest in Company (percent)	39.30%
Unaffiliated holders
Distribution Made to Limited Partner [Line Items]
Limited partners or members ownership interest in Company (percent)	0.70%
AB
Distribution Made to Limited Partner [Line Items]
Limited partners or members ownership interest in Company (percent)	100%

Cash Distributions (Details)

Cash Distributions (Details)	Oct. 24, 2024 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Subsequent cash distribution, distribution declared (in dollars per unit)	$ 0.77

Long-term Incentive Compensat_3

Long-term Incentive Compensation Plans - Unit Purchase Activity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Total amount of AB Holding Units Purchased (in shares)	1.1	1.8	2.1	2.3
Total Cash Paid for AB Holding Units Purchased	$ 38.6	$ 56.9	$ 71.7	$ 75.7
Open Market Purchases of AB Holding Units Purchased (in shares)	1.1	1.8	1.8	1.8
Total Cash Paid for Open Market Purchases of AB Holding Units	$ 38.6	$ 56.9	$ 60.1	$ 56.9

Long-term Incentive Compensat_4

Long-term Incentive Compensation Plans (Details) - shares shares in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Employees and Eligible Directors \| AB Holding Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted AB holding unit awards granted to employees and eligible directors (in shares)	1.2	0.4

Net Income per Unit (Details)

Net Income per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Unit [Abstract]
Net income – basic	$ 127,195	$ 56,991	$ 317,940	$ 184,986
Net income – diluted	$ 127,195	$ 56,991	$ 317,940	$ 184,986
Weighted average units outstanding – basic (in shares)	114,042,000	113,185,000	114,592,000	113,407,000
Weighted average units outstanding – diluted (in shares)	114,042,000	113,185,000	114,592,000	113,407,000
Basic net income per unit (in dollars per share)	$ 1.12	$ 0.50	$ 2.77	$ 1.63
Diluted net income per unit (in dollars per share)	$ 1.12	$ 0.50	$ 2.77	$ 1.63
Anti-dilutive units excluded from diluted net income (in shares)	0	0	0	0

Investment in AB (Details)

Investment in AB (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Investment in AB (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Change in Equity Method Investment [Roll Forward]
Beginning balance			$ 2,077,540
Equity in net income attributable to AB Unitholders	$ 136,374	$ 65,761	345,360	$ 211,264
Changes in accumulated other comprehensive income	7,588	$ (5,643)	7,121	(1,122)
Cash distributions received from AB			(281,164)	$ (248,529)
Capital contributions (from) AB			(902)
AB Holding Units retired			(66,477)
AB Holding Units issued to fund long-term incentive compensation plans			20,430
Change in AB Holding Units held by AB for long-term incentive compensation plans			(3,205)
Ending balance	$ 2,098,703		$ 2,098,703

Units Outstanding (Details)

Units Outstanding (Details)	9 Months Ended
Units Outstanding (Details)	Sep. 30, 2024 shares
Units Outstanding
Outstanding, beginning balance (in shares)	114,436,091
Units issued (in shares)	859,586
Units retired (in shares)	(1,860,320)
Outstanding, ending balance (in shares)	113,435,357

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
New York City unincorporated business tax (percent)			4%
Federal tax rate on partnership gross income (percent)			3.50%
Income Tax Contingency [Line Items]
Multiplied by: weighted average equity ownership interest (percent)	39.40%	39.30%	39.50%	39.30%
Equity in net income attributable to AB Unitholders	$ 136,374	$ 65,761	$ 345,360	$ 211,264
Computation of income tax [Abstract]
AB qualifying revenues	$ 713,242	$ 689,323	$ 2,099,807	$ 2,059,866
Multiplied by: weighted average equity ownership interest for calculating tax (percent)	35.70%	35.60%	36.40%	35.70%
Multiplied by: federal tax (percent)	3.50%	3.50%	3.50%	3.50%
Federal income taxes	$ 8,924	$ 8,593	$ 26,728	$ 25,713
State income taxes	255	177	692	565
Total income taxes	$ 9,179	$ 8,770	$ 27,420	$ 26,278
Effective tax rate (percent)	6.70%	13.30%	7.90%	12.40%
Changes in components for calculation of income tax [Abstract]
Change in net income attributable to AB Unitholders (percent)	106.70%		62.60%
Change in equity in net income attributable to AB Unitholders (percent)	107.40%		63.50%
Change in AB qualifying revenues (percent)	3.50%		1.90%
Change in income taxes (percent)	4.70%		4.30%
Variable Interest Entity, Primary Beneficiary
Income Tax Contingency [Line Items]
Net income attributable to AB Unitholders	$ 345,972	$ 167,404	$ 873,471	$ 537,292