AllianceBernstein Holding (NYSE:AB) reported financial results for the fourth quarter and full year ended December 31, 2025, highlighted by record assets under management and margin improvement despite net outflows in active equity strategies.
Ending AUM reached a record $866.9 billion, increasing 9.4% year-over-year.
Fourth-quarter GAAP diluted net income per unit was $0.90, and adjusted diluted net income per unit was $0.96.
For the full year, GAAP diluted net income per unit was $2.97, while adjusted diluted net income per unit rose to $3.33.
Adjusted operating income grew 4% for the year, with adjusted operating margin expanding 140 basis points to 33.7%.
Firmwide active net flows were negative $9.4 billion in 2025, primarily driven by $22.5 billion in active equity redemptions, partially offset by strength in other channels.
Private markets AUM increased 18% year-over-year to $82 billion.
Following the quarter's performance, the board declared a quarterly cash distribution of $0.96 per unit, payable March 12, 2026, to unitholders of record on February 20, 2026.