AB 10-Q report for 2026-03-31

AB 10-Q report for 2026-03-31 ab-20260331 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC  20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from                         to Commission File No.  001-09818 ALLIANCEBERNSTEIN HOLDING L.P. (Exact name of registrant as specified in its charter) Delaware 13-3434400 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 501 Commerce Street , Nashville , TN 37203 (Address of principal executive offices) (Zip Code) ( 615 ) 622-0000 (Registrant’s telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes ☐ No ☒ Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol Name of Each Exchange on Which Registered Units Rep. Assignments of Beneficial Ownership of LP Interests in AB Holding ("Units") AB New York Stock Exchange The number of units representing assignments of beneficial ownership of limited partnership interests outstanding as of March 31, 2026 was 93,403,853 .* *includes 100,000 units of general partnership interest having economic interests equivalent to the economic interests of the units representing assignments of beneficial ownership of limited partnership interests. ALLIANCEBERNSTEIN HOLDING L.P. Index to Form 10-Q Page Part I FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) Condensed Statements of Financial Condition 1 Condensed Statements of Income 2 Condensed Statements of Comprehensive Income 3 Condensed Statements of Changes in Partners' Capital 4 Condensed Statements of Cash Flows 5 Notes to Condensed Financial Statements 6 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3. Quantitative and Qualitative Disclosures About Market Risk 14 Item 4. Controls and Procedures 14 Part II OTHER INFORMATION Item 1. Legal Proceedings 15 Item 1A. Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17 SIGNATURE 18 Index Part I FINANCIAL INFORMATION Item 1.     Financial Statements ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Financial Condition (in thousands, except unit amounts) (unaudited) March 31, 2026 December 31, 2025 ASSETS Investment in AB $ 1,261,074 $ 1,240,042 Other assets 271 — Total assets $ 1,261,345 $ 1,240,042 LIABILITIES AND PARTNERS’ CAPITAL Liabilities: Other liabilities $ 101 $ 1,664 Total liabilities 101 1,664 Commitments and contingencies ( See Note 8 ) Partners’ capital: General Partner: 100,000 general partnership units issued and outstanding 1,351 1,355 Limited partners: 93,303,853 and 92,184,367 limited partnership units issued and outstanding 1,316,715 1,277,569 AB Holding Units held by AB for long-term incentive compensation plans ( 37,026 ) ( 22,682 ) Accumulated other comprehensive loss ( 19,796 ) ( 17,864 ) Total partners’ capital 1,261,244 1,238,378 Total liabilities and partners’ capital $ 1,261,345 $ 1,240,042 See Accompanying Notes to Condensed Financial Statements. 1 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Income (in thousands, except Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3. Quantitative and Qualitative Disclosures About Market Risk 14 Item 4. Controls and Procedures 14 Part II OTHER INFORMATION Item 1. Legal Proceedings 15 Item 1A. Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17 SIGNATURE 18 Index Part I FINANCIAL INFORMATION Item 1.     Financial Statements ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Financial Condition (in thousands, except unit amounts) (unaudited) March 31, 2026 December 31, 2025 ASSETS Investment in AB $ 1,261,074 $ 1,240,042 Other assets 271 — Total assets $ 1,261,345 $ 1,240,042 LIABILITIES AND PARTNERS’ CAPITAL Liabilities: Other liabilities $ 101 $ 1,664 Total liabilities 101 1,664 Commitments and contingencies ( See Note 8 ) Partners’ capital: General Partner: 100,000 general partnership units issued and outstanding 1,351 1,355 Limited partners: 93,303,853 and 92,184,367 limited partnership units issued and outstanding 1,316,715 1,277,569 AB Holding Units held by AB for long-term incentive compensation plans ( 37,026 ) ( 22,682 ) Accumulated other comprehensive loss ( 19,796 ) ( 17,864 ) Total partners’ capital 1,261,244 1,238,378 Total liabilities and partners’ capital $ 1,261,345 $ 1,240,042 See Accompanying Notes to Condensed Financial Statements. 1 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Income (in thousands, except per unit amounts) (unaudited) Three Months Ended March 31, 2026 2025 Equity in net income attributable to AB Unitholders $ 92,255 $ 82,753 Income taxes 7,017 8,719 Net income $ 85,238 $ 74,034 Net income per Unit $ 0.92 $ 0.67 See Accompanying Notes to Condensed Financial Statements. 2 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Comprehensive Income (in thousands) (unaudited) Three Months Ended March 31, 2026 2025 Net income $ 85,238 $ 74,034 Other comprehensive (loss) income: Foreign currency translation adjustment, before tax ( 1,899 ) 4,001 Income tax (expense) benefit ( 33 ) 18 Foreign currency translation adjustments, net of tax ( 1,932 ) 4,019 Changes in employee benefit related items: Amortization of prior service cost — 229 Less: reclassification adjustment for (losses) included in net income upon retirement plan liquidation — ( 8,578 ) Changes in employee benefit related items — 8,807 Income tax (expense) — ( 55 ) Employee benefit related items, net of tax — 8,752 Other comprehensive (loss) income ( 1,932 ) 12,771 Comprehensive income $ 83,306 $ 86,805 See Accompanying Notes to Condensed Financial Statements. 3 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Changes in Partners’ Capital (in thousands) (unaudited) Three Months Ended March 31, 2026 2025 General Partner’s Capital Balance, beginning of period $ 1,355 $ 1,401 Net income 92 67 Cash distributions to Unitholders ( 96 ) ( 106 ) Balance, end of period 1,351 1,362 Limited Partners’ Capital Balance, beginning of period 1,277,569 2,095,248 Net income 85,146 73,967 Cash distributions to Unitholders ( 88,916 ) ( 116,258 ) Retirement of AB Holding Units ( 4,689 ) ( 26,270 ) Issuance of AB Holding Units for long-term incentive compensation plan awards 47,605 32,171 Balance, end of period 1,316,715 2,058,858 AB Holding Units held by AB for long-term incentive compensation plans Balance, beginning of period ( 22,682 ) ( 23,363 ) Change in AB Holding Units held by AB for long-term incentive compensation plans ( 14,344 ) ( 11,333 ) Balance, end of period ( 37,026 ) ( 34,696 ) Accumulated Other Comprehensive (Loss) Balance, beginning of period ( 17,864 ) ( 41,424 ) Foreign currency translation adjustment, net of tax ( 1,932 ) 4,019 Changes in employee benefit related items, net of tax —  8,752 Balance, end of period ( 19,796 ) ( 28,653 ) Total Partners’ Capital $ 1,261,244 $ 1,996,871 See Accompanying Notes to Condensed Financial Statements. 4 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Cash Flows (in thousands) (unaudited) Three Months Ended March 31, 2026 2025 Cash flows from operating activities: Net income $ 85,238 $ 74,034 Adjustments to reconcile net income to net cash provided by operating activities: Equity in net income attributable to AB Unitholders ( 92,255 ) ( 82,753 ) Cash distributions received from AB 97,370 127,438 Changes in assets and liabilities: (Increase) in other assets ( 271 ) ( 952 ) (Decrease) in other liabilities ( 1,563 ) ( 2,512 ) Net cash provided by operating activities 88,519 115,255 Cash flows from financing activities: Cash distributions to Unitholders ( 89,012 ) ( 116,364 ) Capital contributions from AB 493 1,109 Net cash used in financing activities ( 88,519 ) ( 115,255 ) Change in cash and cash equivalents — — Cash and cash equivalents as of beginning of period — — Cash and cash equivalents as of end of period $ — $ — See Accompanying Notes to Condensed Financial Statements. 5 Index ALLIANCEBERNSTEIN HOLDING L.P. Notes to Condensed Financial Statements March 31, 2026 (unaudited) The words “we” and “our” refer collectively to AllianceBernstein Holding L.P. (“AB Holding”) and AllianceBernstein L.P.  and its subsidiaries (“AB”), or to their officers and employees. Similarly, the word “company” refers to both AB Holding and AB. Where the context requires distinguishing between AB Holding and AB, we identify which of them is being discussed. These statements should be read in conjunction with the audited consolidated financial statements included in the Form 10-K for the year ended December 31, 2025. 1.     Business Description, Organization and Basis of Presentation Business Description 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, 2025. 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 Management – 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 our asset management and private wealth management businesses. AB’s research disciplines include economic, equity, fixed income and quantitative research. In addition, 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: • Equities, including actively managed strategies across global and regional markets and capitalization ranges, spanning growth, value, core, defensive, thematic, and sustainable approaches, with varying degrees of active risk, concentration, and benchmark sensitivity; • Fixed Income , including actively managed traditional and unconstrained strategies across taxable and tax-exempt markets, encompassing government, corporate, securitized, emerging market, and municipal securities, with a focus on income generation, risk management, liquidity, and diversification; • Multi-Asset Solutions , including outcome-oriented and asset-allocation strategies such as target-date, target-risk, income, and total-return portfolios, as well as customized multi-asset solutions designed to meet specific client objectives; 6 Index • Hedge Fund Strategies , including fundamental and systematic hedge funds, equity market neutral, event-driven, macro, and fund-of-funds strategies, focused on delivering diversified, idiosyncratic return streams with controlled market exposure; • Private Alternatives , including private credit, asset-based finance, real assets, real estate debt, and specialty finance strategies, where returns are driven by underwriting discipline, structure, selectivity, and active portfolio management rather than public market beta; and • Systematic Strategies , including alpha-seeking and risk-controlled approaches that apply quantitative research, data-driven signals, and disciplined portfolio construction across equity and fixed income markets, as well as passive index, ESG index, and enhanced index solutions designed to provide efficient market exposure. Organization 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 March 31, 2026, the ownership structure of AB, expressed as a percentage of general and limited partnership interests, was as follows: EQH and its subsidiaries 68.0 % AB Holding 31.4 Unaffiliated holders 0.6 100.0 % Including both the general partnership and limited partnership interests in AB Holding and AB, EQH and its subsidiaries had an approximate 68.0 % economic interest in AB as of March 31, 2026. 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, 2025 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. 7 Index 2.     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. On April 28, 2026, the General Partner declared a distribution of $ 0.83 per Unit, representing a distribution of Available Cash Flow for the three months ended March 31, 2026. Each general partnership unit in AB Holding is entitled to receive distributions equal to those received by each AB Holding Unit. The distribution is payable on May 21, 2026 to holders of record at the close of business on May 8, 2026. 3.     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 Holding Units are maintained in a consolidated rabbi trust either by purchasing AB Holding U Item 1A. Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17 SIGNATURE 18 Index Part I FINANCIAL INFORMATION Item 1.     Financial Statements ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Financial Condition (in thousands, except unit amounts) (unaudited) March 31, 2026 December 31, 2025 ASSETS Investment in AB $ 1,261,074 $ 1,240,042 Other assets 271 — Total assets $ 1,261,345 $ 1,240,042 LIABILITIES AND PARTNERS’ CAPITAL Liabilities: Other liabilities $ 101 $ 1,664 Total liabilities 101 1,664 Commitments and contingencies ( See Note 8 ) Partners’ capital: General Partner: 100,000 general partnership units issued and outstanding 1,351 1,355 Limited partners: 93,303,853 and 92,184,367 limited partnership units issued and outstanding 1,316,715 1,277,569 AB Holding Units held by AB for long-term incentive compensation plans ( 37,026 ) ( 22,682 ) Accumulated other comprehensive loss ( 19,796 ) ( 17,864 ) Total partners’ capital 1,261,244 1,238,378 Total liabilities and partners’ capital $ 1,261,345 $ 1,240,042 See Accompanying Notes to Condensed Financial Statements. 1 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Income (in thousands, except per unit amounts) (unaudited) Three Months Ended March 31, 2026 2025 Equity in net income attributable to AB Unitholders $ 92,255 $ 82,753 Income taxes 7,017 8,719 Net income $ 85,238 $ 74,034 Net income per Unit $ 0.92 $ 0.67 See Accompanying Notes to Condensed Financial Statements. 2 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Comprehensive Income (in thousands) (unaudited) Three Months Ended March 31, 2026 2025 Net income $ 85,238 $ 74,034 Other comprehensive (loss) income: Foreign currency translation adjustment, before tax ( 1,899 ) 4,001 Income tax (expense) benefit ( 33 ) 18 Foreign currency translation adjustments, net of tax ( 1,932 ) 4,019 Changes in employee benefit related items: Amortization of prior service cost — 229 Less: reclassification adjustment for (losses) included in net income upon retirement plan liquidation — ( 8,578 ) Changes in employee benefit related items — 8,807 Income tax (expense) — ( 55 ) Employee benefit related items, net of tax — 8,752 Other comprehensive (loss) income ( 1,932 ) 12,771 Comprehensive income $ 83,306 $ 86,805 See Accompanying Notes to Condensed Financial Statements. 3 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Changes in Partners’ Capital (in thousands) (unaudited) Three Months Ended March 31, 2026 2025 General Partner’s Capital Balance, beginning of period $ 1,355 $ 1,401 Net income 92 67 Cash distributions to Unitholders ( 96 ) ( 106 ) Balance, end of period 1,351 1,362 Limited Partners’ Capital Balance, beginning of period 1,277,569 2,095,248 Net income 85,146 73,967 Cash distributions to Unitholders ( 88,916 ) ( 116,258 ) Retirement of AB Holding Units ( 4,689 ) ( 26,270 ) Issuance of AB Holding Units for long-term incentive compensation plan awards 47,605 32,171 Balance, end of period 1,316,715 2,058,858 AB Holding Units held by AB for long-term incentive compensation plans Balance, beginning of period ( 22,682 ) ( 23,363 ) Change in AB Holding Units held by AB for long-term incentive compensation plans ( 14,344 ) ( 11,333 ) Balance, end of period ( 37,026 ) ( 34,696 ) Accumulated Other Comprehensive (Loss) Balance, beginning of period ( 17,864 ) ( 41,424 ) Foreign currency translation adjustment, net of tax ( 1,932 ) 4,019 Changes in employee benefit related items, net of tax —  8,752 Balance, end of period ( 19,796 ) ( 28,653 ) Total Partners’ Capital $ 1,261,244 $ 1,996,871 See Accompanying Notes to Condensed Financial Statements. 4 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Cash Flows (in thousands) (unaudited) Three Months Ended March 31, 2026 2025 Cash flows from operating activities: Net income $ 85,238 $ 74,034 Adjustments to reconcile net income to net cash provided by operating activities: Equity in net income attributable to AB Unitholders ( 92,255 ) ( 82,753 ) Cash distributions received from AB 97,370 127,438 Changes in assets and liabilities: (Increase) in other assets ( 271 ) ( 952 ) (Decrease) in other liabilities ( 1,563 ) ( 2,512 ) Net cash provided by operating activities 88,519 115,255 Cash flows from financing activities: Cash distributions to Unitholders ( 89,012 ) ( 116,364 ) Capital contributions from AB 493 1,109 Net cash used in financing activities ( 88,519 ) ( 115,255 ) Change in cash and cash equivalents — — Cash and cash equivalents as of beginning of period — — Cash and cash equivalents as of end of period $ — $ — See Accompanying Notes to Condensed Financial Statements. 5 Index ALLIANCEBERNSTEIN HOLDING L.P. Notes to Condensed Financial Statements March 31, 2026 (unaudited) The words “we” and “our” refer collectively to AllianceBernstein Holding L.P. (“AB Holding”) and AllianceBernstein L.P.  and its subsidiaries (“AB”), or to their officers and employees. Similarly, the word “company” refers to both AB Holding and AB. Where the context requires distinguishing between AB Holding and AB, we identify which of them is being discussed. These statements should be read in conjunction with the audited consolidated financial statements included in the Form 10-K for the year ended December 31, 2025. 1.     Business Description, Organization and Basis of Presentation Business Description 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, 2025. 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 Management – 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 our asset management and private wealth management businesses. AB’s research disciplines include economic, equity, fixed income and quantitative research. In addition, 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: • Equities, including actively managed strategies across glo Results of Operations 11 Item 3. Quantitative and Qualitative Disclosures About Market Risk 14 Item 4. Controls and Procedures 14 Part II OTHER INFORMATION Item 1. Legal Proceedings 15 Item 1A. Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17 SIGNATURE 18 Index Part I FINANCIAL INFORMATION Item 1.     Financial Statements ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Financial Condition (in thousands, except unit amounts) (unaudited) March 31, 2026 December 31, 2025 ASSETS Investment in AB $ 1,261,074 $ 1,240,042 Other assets 271 — Total assets $ 1,261,345 $ 1,240,042 LIABILITIES AND PARTNERS’ CAPITAL Liabilities: Other liabilities $ 101 $ 1,664 Total liabilities 101 1,664 Commitments and contingencies ( See Note 8 ) Partners’ capital: General Partner: 100,000 general partnership units issued and outstanding 1,351 1,355 Limited partners: 93,303,853 and 92,184,367 limited partnership units issued and outstanding 1,316,715 1,277,569 AB Holding Units held by AB for long-term incentive compensation plans ( 37,026 ) ( 22,682 ) Accumulated other comprehensive loss ( 19,796 ) ( 17,864 ) Total partners’ capital 1,261,244 1,238,378 Total liabilities and partners’ capital $ 1,261,345 $ 1,240,042 See Accompanying Notes to Condensed Financial Statements. 1 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Income (in thousands, except per unit amounts) (unaudited) Three Months Ended March 31, 2026 2025 Equity in net income attributable to AB Unitholders $ 92,255 $ 82,753 Income taxes 7,017 8,719 Net income $ 85,238 $ 74,034 Net income per Unit $ 0.92 $ 0.67 See Accompanying Notes to Condensed Financial Statements. 2 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Comprehensive Income (in thousands) (unaudited) Three Months Ended March 31, 2026 2025 Net income $ 85,238 $ 74,034 Other comprehensive (loss) income: Foreign currency translation adjustment, before tax ( 1,899 ) 4,001 Income tax (expense) benefit ( 33 ) 18 Foreign currency translation adjustments, net of tax ( 1,932 ) 4,019 Changes in employee benefit related items: Amortization of prior service cost — 229 Less: reclassification adjustment for (losses) included in net income upon retirement plan liquidation — ( 8,578 ) Changes in employee benefit related items — 8,807 Income tax (expense) — ( 55 ) Employee benefit related items, net of tax — 8,752 Other comprehensive (loss) income ( 1,932 ) 12,771 Comprehensive income $ 83,306 $ 86,805 See Accompanying Notes to Condensed Financial Statements. 3 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Changes in Partners’ Capital (in thousands) (unaudited) Three Months Ended March 31, 2026 2025 General Partner’s Capital Balance, beginning of period $ 1,355 $ 1,401 Net income 92 67 Cash distributions to Unitholders ( 96 ) ( 106 ) Balance, end of period 1,351 1,362 Limited Partners’ Capital Balance, beginning of period 1,277,569 2,095,248 Net income 85,146 73,967 Cash distributions to Unitholders ( 88,916 ) ( 116,258 ) Retirement of AB Holding Units ( 4,689 ) ( 26,270 ) Issuance of AB Holding Units for long-term incentive compensation plan awards 47,605 32,171 Balance, end of period 1,316,715 2,058,858 AB Holding Units held by AB for long-term incentive compensation plans Balance, beginning of period ( 22,682 ) ( 23,363 ) Change in AB Holding Units held by AB for long-term incentive compensation plans ( 14,344 ) ( 11,333 ) Balance, end of period ( 37,026 ) ( 34,696 ) Accumulated Other Comprehensive (Loss) Balance, beginning of period ( 17,864 ) ( 41,424 ) Foreign currency translation adjustment, net of tax ( 1,932 ) 4,019 Changes in employee benefit related items, net of tax —  8,752 Balance, end of period ( 19,796 ) ( 28,653 ) Total Partners’ Capital $ 1,261,244 $ 1,996,871 See Accompanying Notes to Condensed Financial Statements. 4 Index ALLIANCEBERNSTEIN HOLDING L.P. Condensed Statements of Cash Flows (in thousands) (unaudited) Three Months Ended March 31, 2026 2025 Cash flows from operating activities: Net income $ 85,238 $ 74,034 Adjustments to reconcile net income to net cash provided by operating activities: Equity in net income attributable to AB Unitholders ( 92,255 ) ( 82,753 ) Cash distributions received from AB 97,370 127,438 Changes in assets and liabilities: (Increase) in other assets ( 271 ) ( 952 ) (Decrease) in other liabilities ( 1,563 ) ( 2,512 ) Net cash provided by operating activities 88,519 115,255 Cash flows from financing activities: Cash distributions to Unitholders ( 89,012 ) ( 116,364 ) Capital contributions from AB 493 1,109 Net cash used in financing activities ( 88,519 ) ( 115,255 ) Change in cash and cash equivalents — — Cash and cash equivalents as of beginning of period — — Cash and

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