0001109448-26-000197 | 10-Q | XBRL Viewer

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Business Segment Information - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026 segment distributionChannel	Jun. 30, 2025
Segment Reporting [Abstract]
Number of operating segments \| segment			1
Number of reportable segments not disclosed			one
Number of distribution channels \| distributionChannel			3
Revenue Benchmark \| Product Concentration Risk \| Japan \| Location, Statement of Income, Balance [Axis]: us-gaap:RevenuesNetOfInterestExpense
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Line Items]
Concentration risk	11.00%	12.00%	11.00%	12.00%

Leases - Summary of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Operating Leases
2026 (excluding the six months ended June 30, 2026)	$ 28,529
2027	65,266
2028	59,904
2029	57,051
2030	56,037
Thereafter	444,154
Total lease payments	710,941
Less interest	(198,230)
Present value of lease liabilities	512,711	$ 511,308
Financing Leases
2026 (excluding the six months ended June 30, 2026)	2,330
2027	3,730
2028	2,409
2029	1,539
2030	733
Thereafter	0
Total lease payments	10,741
Less interest	(668)
Finance lease liabilities	10,073	$ 7,270
Total
2026 (excluding the six months ended June 30, 2026)	30,859
2027	68,996
2028	62,313
2029	58,590
2030	56,770
Thereafter	444,154
Total lease payments	$ 721,682

Cash Distributions	6 Months Ended
Cash Distributions	Jun. 30, 2026
Equity [Abstract]
Cash Distributions	Cash Distributions AB is required to distribute all of its Available Cash Flow, as defined in the AB Partnership Agreement, to its Unitholders and to the General Partner. Available Cash Flow can be summarized as the cash flow received by AB from operations minus such amounts as the General Partner determines, in its sole discretion, should be retained by AB for use in its business, or plus such amounts as the General Partner determines, in its sole discretion, should be released from previously retained cash flow. Typically, Available Cash Flow has been the adjusted net income per Unit for the quarter multiplied by the number of general and limited partnership interests at the end of the quarter. Management anticipates that Available Cash Flow will continue to be based on adjusted net income per Unit. If management determines, with the concurrence of the Board of Directors, that certain adjustments to Available Cash Flow are necessary or unnecessary, such adjustments will be made in future periods. On July 28, 2026, the General Partner declared a distribution of $0.91 per AB Unit, representing a distribution of Available Cash Flow for the three months ended June 30, 2026. The General Partner, as a result of its 1.0% general partnership interest, is entitled to receive 1.0% of each distribution. The distribution is payable on August 27, 2026 to holders of record on August 12, 2026.

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 272,370	$ 207,288	$ 581,006	$ 428,982
Other comprehensive (loss) income:
Foreign currency translation adjustments, before tax	572	26,278	(5,637)	37,027
Income tax (expense)	(83)	(240)	(131)	(185)
Foreign currency translation adjustments, net of tax	489	26,038	(5,768)	36,842
Changes in employee benefit related items:
Amortization of prior service cost	0	0	0	611
Less: reclassification adjustment for (losses) included in net income upon retirement plan liquidation			0	(22,898)
Changes in employee benefit related items	0	0	0	23,509
Income tax (expense)	0	0	0	(147)
Employee benefit related items, net of tax	0	0	0	23,362
Other comprehensive income (loss)	489	26,038	(5,768)	60,204
Less: Comprehensive income (loss) in consolidated entities attributable to non-controlling interests	17,148	(3,179)	30,299	(2,284)
Comprehensive income attributable to AB Unitholders	$ 255,711	$ 236,505	$ 544,939	$ 491,470

Net Income per Unit

6 Months Ended

Jun. 30, 2026

Earnings Per Unit [Abstract]

Net Income per Unit

Net income per Unit is derived by reducing net income for the 1.0% general partnership interest and dividing the remaining 99.0% by the weighted average number of limited partnership units outstanding for each period. Diluted net income per Unit is equivalent to net income per Unit, as there are no outstanding instruments that have a dilutive effect.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands, except per unit amounts)
Net income attributable to AB Unitholders	$	255,222	$	210,467	$	550,707	$	431,266

Weighted average limited partnership Units outstanding	294,526		292,064		294,130		292,125

Net income per AB Unit	$	0.86	$	0.71	$	1.85	$	1.46

Leases - Summary of Lease Term and Discount Rate (Details)	Jun. 30, 2026
Weighted average remaining lease term (years):
Operating leases	13 years 1 month 17 days
Finance leases	2 years 11 months 26 days
Weighted average discount rate:
Operating leases	4.65%
Finance leases	4.81%

Net Income per Unit (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Unit [Abstract]

Summary of Earnings Per Unit, Basic and Diluted


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands, except per unit amounts)
Net income attributable to AB Unitholders	$	255,222	$	210,467	$	550,707	$	431,266

Weighted average limited partnership Units outstanding	294,526		292,064		294,130		292,125

Net income per AB Unit	$	0.86	$	0.71	$	1.85	$	1.46

Units Outstanding (Tables)

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Summary of Changes in Units Outstanding

Changes in AB Units outstanding during the six-month period ended June 30, 2026 were as follows:


Outstanding as of December 31, 2025			293,508,421

Units issued			1,372,554
Units retired (1)			(585,402)
Outstanding as of June 30, 2026			294,295,573

(1) During the six months ended June 30, 2026, we purchased 3,700 AB Units in private transactions and retired them.

Debt (Details)	6 Months Ended	12 Months Ended
Debt (Details)	Jun. 30, 2026 USD ($) lineOfCredit financialInstitution	Dec. 31, 2025 USD ($) lineOfCredit financialInstitution
EQH
Debt Instrument [Line Items]
Amount outstanding	$ 580,000,000.0	$ 810,000,000.0
Weighted average interest rates	3.70%	3.70%
Average daily borrowings	$ 509,200,000	$ 392,200,000
Weighted average interest rates on average daily borrowings	3.60%	4.20%
Revolving Credit Facility \| EQH
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 900,000,000.0
Revolving Credit Facility \| EQH Uncommitted Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	300,000,000.0
Amount outstanding	0	$ 0
Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	800,000,000.0
Maximum incremental increase	200,000,000.0
Amount outstanding	0	0
Proceeds from debt, net	0	0
Line of Credit \| Subsidiaries
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 100,000,000.0	$ 150,000,000.0
Number of uncommitted lines of credit \| lineOfCredit	2	3
Number of financial institutions offering lines of credit \| financialInstitution	2	3
Number of financial institutions with stated limits \| lineOfCredit	1	2
Equitable Holdings, Inc. And Subsidiaries
Debt Instrument [Line Items]
Proceeds from debt, net	$ 0	$ 0
Commercial Paper
Debt Instrument [Line Items]
Weighted average interest rates on average daily borrowings	3.80%	4.40%
Short-term debt, average outstanding amount	$ 187,500,000	$ 199,500,000
Short-term debt	$ 0	$ 0
Uncommited Lines of Credit
Debt Instrument [Line Items]
Weighted average interest rates	6.80%	7.30%
Short-term debt, average outstanding amount	$ 800,000	$ 500,000
Short-term debt	$ 0	$ 0

Units Outstanding (Details)	6 Months Ended
Units Outstanding (Details)	Jun. 30, 2026 shares
Units Outstanding
Beginning balance (in shares)	293,508,421
Units issued (in shares)	1,372,554
Units retired (in shares)	(585,402)
Ending balance (in shares)	294,295,573
AB units purchased and retired in private transactions (in shares)	3,700

- Definition

Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards.

+ References + Details

- Definition

Number of shares that have been repurchased and retired during the period.

+ References

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+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 581,006	$ 428,982
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred sales commissions	42,651	41,311
Non-cash long-term incentive compensation expense	22,647	10,809
Depreciation and other amortization	44,394	43,003
Non-cash lease expense	36,875	35,085
Retirement plan loss	0	20,756
Retirement plan funding	0	(1,700)
Other, net	6,026	3,663
Changes in assets and liabilities:
Decrease in securities, segregated	270,532	16,808
(Increase) decrease in receivables	(117,042)	69,369
(Increase) in deferred sales commissions	(19,851)	(35,214)
Increase in other liabilities of consolidated company-sponsored investment funds	3,229	35,217
Increase (decrease) in payables	52,054	(36,650)
(Decrease) in accounts payable and accrued expenses	(104,664)	(11,975)
Increase in accrued compensation and benefits	225,881	187,325
Cash payments to relieve operating lease liabilities	(33,661)	(32,682)
Net cash provided by operating activities	950,096	489,815
Cash flows from investing activities:
Purchases of furniture, equipment and leasehold improvements	(21,010)	(18,157)
Net cash (used in) investing activities	(21,010)	(18,157)
Cash flows from financing activities:
(Repayment of) debt, net	(230,000)	(60,000)
Distributions to General Partner and Unitholders	(579,190)	(599,035)
Capital contributions (to) AB Holding	(1,523)	(1,307)
Purchases of AB Holding Units for long-term incentive compensation plan awards, net	(27,751)	(43,646)
Other, net	(1,283)	(3,318)
Net cash (used in) financing activities	(818,203)	(491,720)
Effect of exchange rate changes on cash and cash equivalents	(5,133)	40,776
Net increase in cash and cash equivalents	105,750	20,714
Cash and cash equivalents as of beginning of the period	796,573	834,033
Cash and cash equivalents as of end of the period	902,323	854,747
Excluding Company-Sponsored Investment Funds
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized (gains) on investments	(4,277)	(3,823)
(Gains) losses on equity method investments	(43,962)	16,652
Changes in assets and liabilities:
Decrease (increase) in investments	146,520	2,156
(Increase) decrease in other assets	(53,158)	14,872
Company-Sponsored Investment Funds
Changes in assets and liabilities:
Decrease (increase) in investments	(100,606)	(302,058)
(Increase) in other assets of consolidated company-sponsored investment funds	(4,498)	(12,091)
Cash flows from financing activities:
Third-party capital invested into consolidated company-sponsored investment funds, net	$ 21,544	$ 215,586

Consolidated Company-Sponsored Investment Funds - Summary of Redeemable Noncontrolling Interest (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($)
Redeemable Noncontrolling Interest [Roll Forward]
Redeemable non-controlling interest as of December 31, 2025	$ 178,967
Deconsolidated funds	(9,807)
Changes in third-party seed investments in consolidated funds	61,649
Redeemable non-controlling interest as of June 30, 2026	$ 230,809

- Definition

As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity.

+ References

+ Details

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	$ 1,140,120	$ 1,075,985	$ 2,292,766	$ 2,159,856
Not subject to contracts with customers:
Dividend and interest income, net of broker-dealer related interest expense	16,689	20,475	34,154	37,308
Investment gains (losses)	13,505	(7,825)	44,564	(28,363)
Other revenues	690	272	1,246	713
Total revenue not from contract with customer	30,884	12,922	79,964	9,658
Net revenues	1,171,004	1,088,907	2,372,730	2,169,514
Base fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	860,302	805,319	1,709,484	1,623,185
Performance-based fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	46,644	38,659	112,676	75,905
All-in-management fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	89,887	86,926	180,695	175,370
12b-1 fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	14,772	15,248	29,538	31,500
Other distribution fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	96,260	96,193	193,504	190,517
Shareholder servicing fees
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	23,752	21,278	47,940	37,920
JV related revenues
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	6,628	9,013	12,989	18,347
Other
Disaggregation of Revenue [Line Items]
Revenue subject to contracts with customers	$ 1,875	$ 3,349	$ 5,940	$ 7,112

Investments - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Summary of Investment Holdings [Line Items]
Long-term incentive compensation-related	$ 42,700	$ 54,100
Investment owned	433,409	531,013
Seed capital
Summary of Investment Holdings [Line Items]
Investment owned	$ 383,100	$ 372,100

- Definition

Fair value of investment in security owned.

+ References

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147478795/946-210-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Publisher FASB
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-Topic 946
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Long-term Incentive Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Share-based Compensation, Employee Stock Purchase Plan, Activity

Repurchases of AB Holding Units for the three and six months ended June 30, 2026 and 2025 consisted of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in millions)
Total amount of AB Holding Units Purchased/Retained (1)	0.6		0.4		0.8		1.2
Total Cash Paid for AB Holding Units Purchased/Retained (1)	$	19.9	$	13.2	$	28.7	$	43.7
Open Market Purchases of AB Holding Units Purchased (1)	0.5		0.3		0.6		1.0
Total Cash Paid for Open Market Purchases of AB Holding Units (1)	$	16.9	$	12.3	$	21.6	$	38.4

(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.

Cash and Securities Segregated Under Federal Regulations and Other Requirements	6 Months Ended
	Jun. 30, 2026
Broker-Dealer [Abstract]
Cash and Securities Segregated Under Federal Regulations and Other Requirements	Cash and Securities Segregated Under Federal Regulations and Other Requirements As of June 30, 2026 and December 31, 2025, $227.7 million and $498.6 million, respectively, of U.S. Treasury Bills were segregated in a special reserve bank custody account for the exclusive benefit of our brokerage customers under Rule 15c3-3 of the Exchange Act.

Offsetting Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2026

Offsetting [Abstract]

Summary of Offsetting of Financial Assets

Offsetting of assets as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral		Net Amount
	(in thousands)
June 30, 2026:
Securities borrowed	$	13,425	$	—	$	13,425	$	(13,425)	$	—	$	—
Derivatives	$	12,747	$	—	$	12,747	$	—	$	(4,836)	$	7,911

December 31, 2025:
Securities borrowed	$	14,689	$	—	$	14,689	$	(14,539)	$	—	$	150
Derivatives	$	12,985	$	—	$	12,985	$	—	$	(5,547)	$	7,438

Offsetting of derivative assets of consolidated company-sponsored investment funds as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral Received		Net Amount
	(in thousands)
June 30, 2026:
Derivatives - VIEs	$	22,376	$	—	$	22,376	$	—	$	(260)	$	22,116

December 31, 2025:
Derivatives - VIEs	$	20,077	$	—	$	20,077	$	—	$	—	$	20,077

Summary of Offsetting of Financial Liabilities

Offsetting of liabilities as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral		Net Amount
	(in thousands)
June 30, 2026:
Securities loaned	$	44	$	—	$	44	$	—	$	(43)	$	1
Derivatives	$	17,731	$	—	$	17,731	$	—	$	(13,132)	$	4,599

December 31, 2025:
Securities loaned	$	51,488	$	—	$	51,488	$	—	$	(50,170)	$	1,318
Derivatives	$	17,615	$	—	$	17,615	$	—	$	(10,293)	$	7,322

Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral Pledged		Net Amount
	(in thousands)
June 30, 2026:
Derivatives - VIEs	$	21,819	$	—	$	21,819	$	—	$	(745)	$	21,074

December 31, 2025:
Derivatives - VIEs	$	20,084	$	—	$	20,084	$	—	$	(492)	$	19,592

- Definition

Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

+ References + Details

- Definition

Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements.

+ References + Details

Investments - Summary of Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Summary of Investment Holdings [Line Items]
Total investments	$ 433,409	$ 531,013
Joint ventures
Summary of Investment Holdings [Line Items]
Total investments	197,109	247,605
Other equity method investments
Summary of Investment Holdings [Line Items]
Total investments	0	7,429
Time deposits
Summary of Investment Holdings [Line Items]
Total investments	6,278	6,365
Other
Summary of Investment Holdings [Line Items]
Total investments	11,376	11,930
Long-term incentive compensation-related \| Equity securities
Summary of Investment Holdings [Line Items]
Total investments	39,007	35,212
Long-term incentive compensation-related \| Investments in limited partnership hedge funds:
Summary of Investment Holdings [Line Items]
Total investments	3,661	18,845
Seed capital
Summary of Investment Holdings [Line Items]
Total investments	383,100	372,100
Seed capital \| Equity securities
Summary of Investment Holdings [Line Items]
Total investments	138,103	176,545
Seed capital \| Investments in limited partnership hedge funds:
Summary of Investment Holdings [Line Items]
Total investments	37,718	26,939
Other \| Equity securities
Summary of Investment Holdings [Line Items]
Total investments	$ 157	$ 143

Offsetting Assets and Liabilities - Summary of Offsetting Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Securities loaned
Gross Amounts of Recognized Liabilities	$ 44	$ 51,488
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	44	51,488
Financial Instruments Collateral	0	0
Cash Collateral	(43)	(50,170)
Net Amount	1	1,318
Derivatives
Gross Amounts of Recognized Liabilities	17,731	17,615
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	17,731	17,615
Financial Instruments Collateral	0	0
Cash Collateral	(13,132)	(10,293)
Net Amount	$ 4,599	$ 7,322

Cash and Securities Segregated Under Federal Regulations and Other Requirements (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Broker-Dealer [Abstract]
United states treasury bills in special reserve bank custody account for exclusive benefit of brokerage customers	$ 227.7	$ 498.6

Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Notional Value and Fair Value of Derivative Instruments

The notional value and fair value as of June 30, 2026 and December 31, 2025 for derivative instruments (excluding derivative instruments relating to our options desk trading activities discussed below) not designated as hedging instruments were as follows:


			Fair Value
	Notional Value		Derivative Assets		Derivative Liabilities
	(in thousands)
June 30, 2026:
Exchange-traded futures	$	230,224	$	470	$	1,728
Currency forwards	115,238		5,764		4,526
Interest rate swaps	5,735		181		1
Credit default swaps	443,486		1,308		10,575
Total return swaps	37,062		—		883
Option swaps	50,157		5,024		18
Total derivatives	$	881,902	$	12,747	$	17,731

December 31, 2025:
Exchange-traded futures	$	200,332	$	832	$	366
Currency forwards	88,910		5,073		6,102
Interest rate swaps	7,185		181		12
Credit default swaps	371,581		864		10,551
Total return swaps	157,940		1,140		419
Option swaps	50,196		4,895		165
Total derivatives	$	876,144	$	12,985	$	17,615

Summary of Gains and Losses for Derivative Instruments Recognized in Investment Gains (Losses)

The gains and losses for derivative instruments for the three and six months ended June 30, 2026 and 2025 recognized in investment gains (losses) in the condensed consolidated statements of income were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Exchange-traded futures	$	(8,403)	$	(3,891)	$	(6,249)	$	(3,633)
Currency forwards	1,786		(5,120)		3,627		(5,775)
Interest rate swaps	46		42		(514)		(310)
Credit default swaps	(3,525)		(2,921)		(1,994)		(2,487)
Total return swaps	(3,480)		2,040		(6,215)		(9,377)
Option swaps	54		(1,224)		1,625		(2,268)
Net (losses) on derivative instruments	$	(13,522)	$	(11,074)	$	(9,720)	$	(23,850)

Condensed Consolidated Statements of Changes in Partners' Capital - USD ($) $ in Thousands	Total	Receivables from Affiliates	AB Holding Units held for Long-term Incentive Compensation Plans	Accumulated Other Comprehensive (Loss)	Non-redeemable Non-controlling Interests in Consolidated Entities	General Partner’s Capital	Limited Partners' Capital
Partners' capital, beginning balance at Dec. 31, 2024		$ (2,893)	$ (62,366)	$ (110,581)		$ 49,519	$ 4,999,616
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 428,982				$ 533	4,312	426,954
Cash distributions to General Partner						(5,992)	(593,043)
Long-term incentive compensation plans activity		673	10,137			(22)	(2,178)
(Retirement) issuance of AB Units, net						15	136
Capital contributions (to) from AB Holding		(201)
Purchases of AB Holding Units for long-term compensation plans, net			(43,646)
Retirement (issuance) of AB Units, net			347
Revaluation of AB Holding Units held in rabbi trust			1,092
Foreign currency translation adjustment, net of tax	36,842			36,842
Changes in employee benefit related items, net of tax	23,362			23,362
Distributions (to) non-controlling interests, net					(274)
Contributions from non-controlling interest					28
Partners' capital, ending balance at Jun. 30, 2025	4,732,083	(2,421)	(94,436)	(50,377)		47,832	4,831,485
Balance, beginning of period at Dec. 31, 2024					1,348
Balance, end of period at Jun. 30, 2025					1,635
Partners' capital, beginning balance at Mar. 31, 2025		(3,411)	(91,369)	(76,415)		48,395	4,888,248
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	207,288				(611)	2,104	208,363
Cash distributions to General Partner						(2,596)	(256,812)
Long-term incentive compensation plans activity		427	2,829			(15)	(1,444)
(Retirement) issuance of AB Units, net						(56)	(6,870)
Capital contributions (to) from AB Holding		563
Purchases of AB Holding Units for long-term compensation plans, net			(14,171)
Retirement (issuance) of AB Units, net			7,579
Revaluation of AB Holding Units held in rabbi trust			696
Foreign currency translation adjustment, net of tax	26,038			26,038
Changes in employee benefit related items, net of tax	0
Distributions (to) non-controlling interests, net					(274)
Contributions from non-controlling interest					16
Partners' capital, ending balance at Jun. 30, 2025	4,732,083	(2,421)	(94,436)	(50,377)		47,832	4,831,485
Balance, beginning of period at Mar. 31, 2025					2,504
Balance, end of period at Jun. 30, 2025					1,635
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total capital	4,733,718
Total capital	4,836,151
Partners' capital, beginning balance at Dec. 31, 2025	4,835,154	(260)	(72,869)	(57,389)		48,694	4,916,978
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	581,006				24,687	5,507	545,200
Cash distributions to General Partner						(5,796)	(573,393)
Long-term incentive compensation plans activity		1,042	21,605			17	1,755
(Retirement) issuance of AB Units, net						310	30,517
Other						(3)	(328)
Capital contributions (to) from AB Holding		(635)
Purchases of AB Holding Units for long-term compensation plans, net			(27,752)
Retirement (issuance) of AB Units, net			(29,436)
Revaluation of AB Holding Units held in rabbi trust			(2,659)
Foreign currency translation adjustment, net of tax	(5,768)			(5,768)
Changes in employee benefit related items, net of tax	0
Distributions (to) non-controlling interests, net					(24,590)
Contributions from non-controlling interest					15
Partners' capital, ending balance at Jun. 30, 2026	4,795,337	147	(111,111)	(63,157)		48,729	4,920,729
Balance, beginning of period at Dec. 31, 2025					997
Balance, end of period at Jun. 30, 2026					1,109
Partners' capital, beginning balance at Mar. 31, 2026		(106)	(118,043)	(63,646)		48,989	4,946,323
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	272,370				7,865	2,552	252,670
Cash distributions to General Partner						(2,678)	(264,797)
Long-term incentive compensation plans activity		638	13,203			(12)	(1,227)
(Retirement) issuance of AB Units, net						(119)	(11,912)
Other						(3)	(328)
Capital contributions (to) from AB Holding		(385)
Purchases of AB Holding Units for long-term compensation plans, net			(20,341)
Retirement (issuance) of AB Units, net			13,480
Revaluation of AB Holding Units held in rabbi trust			590
Foreign currency translation adjustment, net of tax	489			489
Changes in employee benefit related items, net of tax	0
Distributions (to) non-controlling interests, net					(7,853)
Contributions from non-controlling interest					15
Partners' capital, ending balance at Jun. 30, 2026	4,795,337	$ 147	$ (111,111)	$ (63,157)		$ 48,729	$ 4,920,729
Balance, beginning of period at Mar. 31, 2026					1,082
Balance, end of period at Jun. 30, 2026					$ 1,109
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total capital	$ 4,796,446

Fair Value (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Valuation of our financial instruments by pricing observability levels as of June 30, 2026 and December 31, 2025 was as follows (in thousands):


	Level 1		Level 2		Level 3		NAV Expedient(1)		Total
June 30, 2026:
Money markets	$	80,111	$	—	$	—	$	—	$	80,111
Securities segregated (U.S. Treasury Bills)	—		227,722		—		—		227,722
Derivatives	470		12,277		—		—		12,747


Equity securities	121,555		55,546		126		40		177,267




Other investments	8,482		—		—		—		8,482

Total assets measured at fair value	$	210,618	$	295,545	$	126	$	40	$	506,329




Derivatives	$	1,728	$	16,003	$	—	$	—	$	17,731
Contingent payment arrangements	—		—		8,689		—		8,689
Total liabilities measured at fair value	$	1,728	$	16,003	$	8,689	$	—	$	26,420

December 31, 2025:
Money markets	$	175,029	$	—	$	—	$	—	$	175,029
Securities segregated (U.S. Treasury Bills)	—		498,649		—		—		498,649
Derivatives	832		12,153		—		—		12,985

Equity securities	145,217		66,519		127		37		211,900




Other investments	9,003		—		—		—		9,003

Total assets measured at fair value	$	330,081	$	577,321	$	127	$	37	$	907,566




Derivatives	$	366	$	17,249	$	—	$	—	$	17,615
Contingent payment arrangements	—		—		8,605		—		8,605
Total liabilities measured at fair value	$	366	$	17,249	$	8,605	$	—	$	26,220

(1) Investments measured at fair value using NAV (or its equivalent) as a practical expedient.

Valuation of consolidated company-sponsored investment funds' financial instruments by pricing observability levels as of June 30, 2026 and December 31, 2025 was as follows (in thousands):


	Level 1		Level 2		Total
June 30, 2026:
Investments - VIEs	$	40,780	$	364,469	$	405,249
Investments - VOEs	335		25,511		25,846
Derivatives - VIEs	401		21,975		22,376

Total assets measured at fair value	$	41,516	$	411,955	$	453,471

Derivatives - VIEs	$	141	$	21,678	$	21,819

Total liabilities measured at fair value	$	141	$	21,678	$	21,819

December 31, 2025:
Investments - VIEs	$	22,477	$	271,558	$	294,035
Investments - VOEs	225		26,274		26,499
Derivatives - VIEs	70		20,007		20,077

Total assets measured at fair value	$	22,772	$	317,839	$	340,611


Derivatives - VIEs	$	112	$	19,972	$	20,084

Total liabilities measured at fair value	$	112	$	19,972	$	20,084

Summary of Change in Carrying Value Level 3 Financial Instruments

The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as equity securities, is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Balance as of beginning of period	$	123	$	119	$	127	$	121



Unrealized gains (losses), net	3		2		(1)		—
Balance as of end of period	$	126	$	121	$	126	$	121

Summary of Contingent Payment Arrangements Level 3 Financial Instruments

The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as contingent payment arrangements, is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Balance as of beginning of period	$	8,647	$	8,478	$	8,605	$	9,385

Accretion	42		42		84		106

Payments	—		—		—		(971)

Balance as of end of period	$	8,689	$	8,520	$	8,689	$	8,520

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Jun. 30, 2026
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This amendment is expected to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This information is not generally presented in the financial statements today. The amendments in this update do not change or remove current expense disclosure requirements. This ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments in this update should be applied either prospectively to financial statements issued for reporting periods after the effective date of this update or retrospectively to any or all periods presented in the financial statements. We are currently evaluating the impacts of the new standard.

Consolidated Company-Sponsored Investment Funds

6 Months Ended

Jun. 30, 2026

Consolidated Company-Sponsored Investment Funds [Abstract]

Consolidated Company-Sponsored Investment Funds

We regularly provide seed capital to new company-sponsored investment funds. As such, we may consolidate or de-consolidate a variety of company-sponsored investment funds each quarter. Due to the similarity of risks related to our involvement with each company-sponsored investment fund, disclosures required under the VIE model are aggregated, such as disclosures regarding the carrying amount and classification of assets.

We are not required to provide financial support to company-sponsored investment funds, and only the assets of such funds are available to settle each fund's own liabilities. Our exposure to loss regarding consolidated company-sponsored investment funds is limited to our investment in, and our management fee earned from, such funds. Equity and debt holders of such funds have no recourse to AB’s assets or to the general credit of AB.

The balances of consolidated VIEs and VOEs included in our condensed consolidated statements of financial condition were as follows:


	June 30, 2026						December 31, 2025
	(in thousands)
	VIEs		VOEs		Total		VIEs		VOEs		Total
Cash and cash equivalents	$	5,510	$	333	$	5,843	$	17,617	$	109	$	17,726
Investments	405,249		25,846		431,095		304,035		26,499		330,534
Other assets	29,279		339		29,618		24,778		342		25,120
Total assets	$	440,038	$	26,518	$	466,556	$	346,430	$	26,950	$	373,380

Liabilities	$	28,478	$	32	$	28,510	$	25,132	$	149	$	25,281
Redeemable non-controlling interest	221,047		9,762		230,809		169,091		9,876		178,967
Partners' capital attributable to AB Unitholders	190,513		16,724		207,237		152,207		16,925		169,132
Total liabilities, redeemable non-controlling interest and partners' capital	$	440,038	$	26,518	$	466,556	$	346,430	$	26,950	$	373,380

During the six-month period ended June 30, 2026, we deconsolidated two funds in which we had a seed investment of approximately $29.6 million as of December 31, 2025, due to no longer having a controlling financial interest.

Changes in the redeemable non-controlling interest balance during the six-month period ended June 30, 2026 are as follows (in thousands):



Redeemable non-controlling interest as of December 31, 2025	$	178,967
Deconsolidated funds	(9,807)
Changes in third-party seed investments in consolidated funds	61,649
Redeemable non-controlling interest as of June 30, 2026	$	230,809

Fair Value

Cash and cash equivalents include cash on hand, demand deposits, overnight commercial paper and highly liquid investments with original maturities of three months or less. Due to the short-term nature of these instruments, the recorded value has been determined to approximate fair value.

Valuation of consolidated company-sponsored investment funds' financial instruments by pricing observability levels as of June 30, 2026 and December 31, 2025 was as follows (in thousands):


	Level 1		Level 2		Total
June 30, 2026:
Investments - VIEs	$	40,780	$	364,469	$	405,249
Investments - VOEs	335		25,511		25,846
Derivatives - VIEs	401		21,975		22,376

Total assets measured at fair value	$	41,516	$	411,955	$	453,471

Derivatives - VIEs	$	141	$	21,678	$	21,819

Total liabilities measured at fair value	$	141	$	21,678	$	21,819

December 31, 2025:
Investments - VIEs	$	22,477	$	271,558	$	294,035
Investments - VOEs	225		26,274		26,499
Derivatives - VIEs	70		20,007		20,077

Total assets measured at fair value	$	22,772	$	317,839	$	340,611


Derivatives - VIEs	$	112	$	19,972	$	20,084

Total liabilities measured at fair value	$	112	$	19,972	$	20,084

See Note 11 for a description of the fair value methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy.

There were no Level 3 financial instruments carried at fair value within the consolidated company-sponsored investment funds during the six months ended June 30, 2026 and 2025, respectively.

Derivative Instruments

As of June 30, 2026 and December 31, 2025, the VIEs held $0.6 million and zero, respectively, of futures, forwards and swaps within their portfolios. For the three and six months ended June 30, 2026, we recognized $5.2 million and $0.6 million of gains, respectively, on these derivatives. For the three and six months ended June 30, 2025, we recognized $0.2 million and $0.3 million of losses, respectively, on these derivatives. These gains and losses are recognized in investment gains (losses) in the condensed consolidated statements of income.

As of June 30, 2026 and December 31, 2025, the VIEs held $0.3 million and zero, respectively, of cash collateral payable to trade counterparties. This obligation to return cash is reported in the liabilities of consolidated company-sponsored investment funds in our condensed consolidated statements of financial condition.

As of June 30, 2026 and December 31, 2025, the VIEs delivered $0.7 million and $0.5 million, respectively, of cash collateral into brokerage accounts. The VIEs report this cash collateral in the consolidated company-sponsored investment funds cash and cash equivalents in our condensed consolidated statements of financial condition.

As of June 30, 2026 and December 31, 2025, the VOEs held zero futures, forwards, options or swaps within their portfolios. For the three and six months ended June 30, 2026 and June 30, 2025, we recognized no gains or losses on these derivatives. These gains and losses are recognized in investment gains (losses) in the condensed statements of income.

As of June 30, 2026 and December 31, 2025, the VOEs held no cash collateral payable to trade counterparties.

As of June 30, 2026 and December 31, 2025, the VOEs delivered no cash collateral in brokerage accounts.

Offsetting Assets and Liabilities

Offsetting of derivative assets of consolidated company-sponsored investment funds as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral Received		Net Amount
	(in thousands)
June 30, 2026:
Derivatives - VIEs	$	22,376	$	—	$	22,376	$	—	$	(260)	$	22,116

December 31, 2025:
Derivatives - VIEs	$	20,077	$	—	$	20,077	$	—	$	—	$	20,077

Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral Pledged		Net Amount
	(in thousands)
June 30, 2026:
Derivatives - VIEs	$	21,819	$	—	$	21,819	$	—	$	(745)	$	21,074

December 31, 2025:
Derivatives - VIEs	$	20,084	$	—	$	20,084	$	—	$	(492)	$	19,592

Cash collateral, whether pledged or received on derivative instruments, is not considered material and, accordingly, is not disclosed by counterparty.

Non-Consolidated VIEs

As of June 30, 2026, the net assets of company-sponsored investment products that are non-consolidated VIEs are approximately $79.0 billion; our maximum risk of loss is our investment of $51.2 million and our advisory fee receivables from these VIEs is $117.7 million. As of December 31, 2025, the net assets of company-sponsored investment products that were non-consolidated VIEs were approximately $51.3 billion; our maximum risk of loss was our investment of $40.4 million and our advisory fees receivable from these VIEs were $105.1 million.

Consolidated Company-Sponsored Investment Funds - Summary of Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - VIEs	$ 12,747	$ 12,985
Derivatives	17,731	17,615
Total liabilities measured at fair value	26,420	26,220
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - VIEs	470	832
Total assets measured at fair value	210,618	330,081
Derivatives	1,728	366
Total liabilities measured at fair value	1,728	366
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - VIEs	12,277	12,153
Total assets measured at fair value	295,545	577,321
Derivatives	16,003	17,249
Total liabilities measured at fair value	16,003	17,249
Company-Sponsored Investment Funds \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	453,471	340,611
Total liabilities measured at fair value	21,819	20,084
Company-Sponsored Investment Funds \| Level 1 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	41,516	22,772
Total liabilities measured at fair value	141	112
Company-Sponsored Investment Funds \| Level 2 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	411,955	317,839
Total liabilities measured at fair value	21,678	19,972
VIEs \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments - VIEs	405,249	294,035
Derivatives - VIEs	22,376	20,077
Derivatives	21,819	20,084
VIEs \| Level 1 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments - VIEs	40,780	22,477
Derivatives - VIEs	401	70
Derivatives	141	112
VIEs \| Level 2 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments - VIEs	364,469	271,558
Derivatives - VIEs	21,975	20,007
Derivatives	21,678	19,972
VOEs \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments - VIEs	25,846	26,499
VOEs \| Level 1 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments - VIEs	335	225
VOEs \| Level 2 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments - VIEs	$ 25,511	$ 26,274

Long-term Incentive Compensation Plans

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Long-term Incentive Compensation Plans

We maintain several unfunded, non-qualified long-term incentive compensation plans, under which we grant annual awards to employees, generally in the fourth quarter, and to members of the Board of Directors of the General Partner, who are not employed by our company or by any of our affiliates (“Eligible Directors”).

AB Holding Units are maintained in a consolidated rabbi trust either by purchasing AB Holding Units on the open market or by purchasing newly-issued AB Holding Units from AB Holding until delivering them or retiring them. In accordance with the Amended and Restated Agreement of Limited Partnership of AB (“AB 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 six months ended June 30, 2026 and 2025 consisted of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in millions)
Total amount of AB Holding Units Purchased/Retained (1)	0.6		0.4		0.8		1.2
Total Cash Paid for AB Holding Units Purchased/Retained (1)	$	19.9	$	13.2	$	28.7	$	43.7
Open Market Purchases of AB Holding Units Purchased (1)	0.5		0.3		0.6		1.0
Total Cash Paid for Open Market Purchases of AB Holding Units (1)	$	16.9	$	12.3	$	21.6	$	38.4

Purchases of AB Holding Units reflected on the condensed consolidated statements of cash flows are net of AB Holding Unit purchases by employees as part of a distribution reinvestment election.

Each quarter, we consider 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 we select has the authority under the terms and limitations specified in the plan to repurchase AB Holding Units on our 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 second quarter of 2026 expired at the close of business on July 27, 2026. We may adopt additional plans in the future to engage in open-market purchases of AB Holding Units for anticipated obligations under our incentive compensation award program and for other corporate purposes.

During the first six months of 2026 and 2025, we awarded to employees and Eligible Directors 1.6 million and 1.2 million restricted AB Holding Unit awards, respectively. We use AB Holding Units repurchased during the applicable period and newly-issued AB Holding Units for these awards.

Leases - Summary of Supplemental Cash Flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 0	$ 78
Finance leases	$ 4,434	$ 1,552

Derivative Instruments - Summary of Gains and Losses for Derivative Instruments Recognized in Investment Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Derivative [Line Items]
Net (losses) on derivative instruments	$ (13,522)	$ (11,074)	$ (9,720)	$ (23,850)
Exchange-traded futures
Derivative [Line Items]
Net (losses) on derivative instruments	(8,403)	(3,891)	(6,249)	(3,633)
Currency forwards
Derivative [Line Items]
Net (losses) on derivative instruments	1,786	(5,120)	3,627	(5,775)
Interest rate swaps
Derivative [Line Items]
Net (losses) on derivative instruments	46	42	(514)	(310)
Credit default swaps
Derivative [Line Items]
Net (losses) on derivative instruments	(3,525)	(2,921)	(1,994)	(2,487)
Total return swaps
Derivative [Line Items]
Net (losses) on derivative instruments	(3,480)	2,040	(6,215)	(9,377)
Option swaps
Derivative [Line Items]
Net (losses) on derivative instruments	$ 54	$ (1,224)	$ 1,625	$ (2,268)

Consolidated Company-Sponsored Investment Funds - Summary of Offsetting of Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Derivatives
Gross Amounts of Recognized Assets	$ 12,747	$ 12,985
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	12,747	12,985
Financial Instruments Collateral	0	0
Cash Collateral Received	(4,836)	(5,547)
Net Amount	7,911	7,438
Derivatives
Gross Amounts of Recognized Liabilities	17,731	17,615
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	17,731	17,615
Financial Instruments Collateral	0	0
Cash Collateral Pledged	(13,132)	(10,293)
Net Amount	4,599	7,322
VIEs
Derivatives
Gross Amounts of Recognized Assets	22,376	20,077
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	22,376	20,077
Financial Instruments Collateral	0	0
Cash Collateral Received	(260)	0
Net Amount	22,116	20,077
Derivatives
Gross Amounts of Recognized Liabilities	21,819	20,084
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Liabilities Presented in the Statement of Financial Condition	21,819	20,084
Financial Instruments Collateral	0	0
Cash Collateral Pledged	(745)	(492)
Net Amount	$ 21,074	$ 19,592

Business Description, Organization and Basis of Presentation - Additional Information (Details)	6 Months Ended
	Jun. 30, 2026 shares
AB Holding \| AB
Distribution Made to Limited Partner [Line Items]
General partnership interest in company	1.00%
AB Holding \| General Partnership Interest \| AB
Distribution Made to Limited Partner [Line Items]
General partners' capital account, units outstanding	100,000
AB
Distribution Made to Limited Partner [Line Items]
Economic interest, percentage	68.10%
AB \| EQH and its subsidiaries
Distribution Made to Limited Partner [Line Items]
General partnership interest in company	1.00%
AB \| General Partnership Interest \| AB
Distribution Made to Limited Partner [Line Items]
General partnership interest in company	1.00%

Fair Value - Summary of Valuation of Financial Instruments by Pricing Observability Levels (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Assets, Fair Value Disclosure [Abstract]
Money markets	$ 80,111	$ 175,029
Securities segregated (U.S. Treasury Bills)	227,722	498,649
Derivatives	12,747	12,985
Total assets measured at fair value and other measurements	506,329	907,566
Derivatives	$ 17,731	$ 17,615
Derivative Liability, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag	Derivatives	Derivatives
Contingent consideration liability	$ 8,689	$ 8,605
Total liabilities measured at fair value	26,420	26,220
Equity securities
Assets, Fair Value Disclosure [Abstract]
Equity securities	177,267	211,900
Other investments
Assets, Fair Value Disclosure [Abstract]
Total investments	8,482	9,003
Level 1
Assets, Fair Value Disclosure [Abstract]
Money markets	80,111	175,029
Securities segregated (U.S. Treasury Bills)	0	0
Derivatives	470	832
Total assets measured at fair value	210,618	330,081
Derivatives	1,728	366
Contingent consideration liability	0	0
Total liabilities measured at fair value	1,728	366
Level 1 \| Equity securities
Assets, Fair Value Disclosure [Abstract]
Equity securities	121,555	145,217
Level 1 \| Other investments
Assets, Fair Value Disclosure [Abstract]
Other investments	8,482	9,003
Level 2
Assets, Fair Value Disclosure [Abstract]
Money markets	0	0
Securities segregated (U.S. Treasury Bills)	227,722	498,649
Derivatives	12,277	12,153
Total assets measured at fair value	295,545	577,321
Derivatives	16,003	17,249
Contingent consideration liability	0	0
Total liabilities measured at fair value	16,003	17,249
Level 2 \| Equity securities
Assets, Fair Value Disclosure [Abstract]
Equity securities	55,546	66,519
Level 2 \| Other investments
Assets, Fair Value Disclosure [Abstract]
Other investments	0	0
Level 3
Assets, Fair Value Disclosure [Abstract]
Money markets	0	0
Securities segregated (U.S. Treasury Bills)	0	0
Derivatives	0	0
Total assets measured at fair value	126	127
Derivatives	0	0
Contingent consideration liability	8,689	8,605
Total liabilities measured at fair value	8,689	8,605
Level 3 \| Equity securities
Assets, Fair Value Disclosure [Abstract]
Equity securities	126	127
Level 3 \| Other investments
Assets, Fair Value Disclosure [Abstract]
Other investments	0	0
NAV Expedient
Assets, Fair Value Disclosure [Abstract]
Money markets	0	0
Securities segregated (U.S. Treasury Bills)	0	0
Derivatives	0	0
Total assets measured at fair value	40	37
Derivatives	0	0
Contingent consideration liability	0	0
Total liabilities measured at fair value	0	0
NAV Expedient \| Equity securities
Assets, Fair Value Disclosure [Abstract]
Equity securities	40	37
NAV Expedient \| Other investments
Assets, Fair Value Disclosure [Abstract]
Other investments	$ 0	$ 0

Consolidated Company-Sponsored Investment Funds - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($) investment	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Derivative [Line Items]
Net (losses) on derivative instruments	$ (13,522,000)	$ (11,074,000)	$ (9,720,000)	$ (23,850,000)
Cash collateral payable to trade counterparties	4,836,000		4,836,000		$ 5,547,000
Cash collateral received	13,132,000		13,132,000		10,293,000
Net assets					51,300,000,000
Maximum risk of loss in investment in VIEs					40,400,000
Advisory fee receivables	150,271,000		150,271,000		139,755,000
VIEs
Derivative [Line Items]
Other derivatives not designated as hedging instruments at fair value, net	600,000		600,000		0
Net (losses) on derivative instruments	5,200,000	200,000	600,000	300,000
Cash collateral payable to trade counterparties	260,000		260,000		0
Delivery of cash collateral	700,000		700,000		500,000
Cash collateral received	745,000		745,000		492,000
VOEs
Derivative [Line Items]
Net (losses) on derivative instruments	0	$ 0	0	$ 0
Cash collateral payable to trade counterparties	0		0		0
Futures, forwards and swaps held	0		0		0
Cash collateral received	0		0		0
Non-consolidated VIEs
Derivative [Line Items]
Net assets	79,000,000,000.0		79,000,000,000.0
Maximum risk of loss in investment in VIEs	51,200,000		51,200,000
Advisory fee receivables	$ 117,700,000		$ 117,700,000		105,100,000
Seed capital
Derivative [Line Items]
Number of deconsolidated funds \| investment			2
Seed investment, deconsolidated amount					$ 29,600,000

Fair Value - Summary of Change in Carrying Value Associated with Contingent Payment Arrangements Level 3 Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Fair Value, Liabilities Measurement Level 3 reconciliation
Balance as of beginning of period	$ 8,647	$ 8,478	$ 8,605	$ 9,385
Accretion	42	42	84	106
Payments	0	0	0	(971)
Balance as of end of period	$ 8,689	$ 8,520	$ 8,689	$ 8,520

Cover Page	6 Months Ended
Cover Page	Jun. 30, 2026 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
Document Transition Report	false
Entity File Number	000-29961
Entity Registrant Name	ALLIANCEBERNSTEIN L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4064930
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	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	294,295,573
Entity Central Index Key	0001109448
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 896,480	$ 778,847
Cash and securities segregated, at fair value (cost: $227,580 and $496,263)	228,531	499,063
Receivables, net:
Brokers and dealers	29,635	32,829
Brokerage clients	1,801,225	1,607,527
Other fees	150,271	139,755
Investments:
Equity Method	197,109	255,034
Other	236,300	275,979
Assets of consolidated company-sponsored investment funds:
Furniture, equipment and leasehold improvements, net	246,463	248,030
Goodwill	3,598,591	3,598,591
Intangible assets, net	143,921	166,415
Deferred sales commissions, net	142,501	165,300
Right-of-use assets	458,900	454,988
Other assets	321,482	271,155
Total assets	9,241,119	9,277,776
Payables:
Brokers and dealers	151,279	214,454
Brokerage clients	2,051,355	1,936,726
Contingent consideration liability	8,689	8,605
Accounts payable and accrued expenses	277,662	381,211
Lease liabilities	522,784	518,578
Accrued compensation and benefits	592,198	367,498
Debt	580,000	810,000
Total liabilities	4,213,864	4,262,658
Commitments and contingencies (See Note 12)
Redeemable non-controlling interest of consolidated entities	230,809	178,967
Capital:
General Partner	48,729	48,694
Limited partners: 294,295,573 and 293,508,421 units issued and outstanding	4,920,729	4,916,978
Receivables from affiliates	147	(260)
AB Holding Units held for long-term incentive compensation plans	(111,111)	(72,869)
Accumulated other comprehensive (loss)	(63,157)	(57,389)
Partners’ capital attributable to AB Unitholders	4,795,337	4,835,154
Non-redeemable non-controlling interests in consolidated entities	1,109	997
Total capital	4,796,446	4,836,151
Total liabilities, non-controlling interest and capital	9,241,119	9,277,776
Company-Sponsored Investment Funds
Assets of consolidated company-sponsored investment funds:
Cash and cash equivalents	5,843	17,726
Investments	431,095	330,534
Other assets	29,618	25,120
Total assets	466,556	373,380
Payables:
Liabilities of consolidated company-sponsored investment funds	28,510	25,281
Total liabilities	28,510	25,281
Redeemable non-controlling interest of consolidated entities	230,809	178,967
Capital:
Total capital	207,237	169,132
Total liabilities, non-controlling interest and capital	466,556	373,380
AllianceBernstein L.P. (AB)
Receivables, net:
AB funds fees	323,154	410,883
Payables:
AB mutual funds	$ 1,387	$ 305

Fair Value

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value

See Note 14, Consolidated Company-Sponsored Investment Funds, for disclosure of fair value of our consolidated company-sponsored investment funds.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. The three broad levels of fair value hierarchy are as follows:

• Level 1 – Quoted prices in active markets are available for identical assets or liabilities as of the reported date.

• Level 2 – Quoted prices in markets that are not active or other pricing inputs that are either directly or indirectly observable as of the reported date.

• Level 3 – Prices or valuation techniques that are both significant to the fair value measurement and unobservable as of the reported date. These financial instruments do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Valuation of our financial instruments by pricing observability levels as of June 30, 2026 and December 31, 2025 was as follows (in thousands):


	Level 1		Level 2		Level 3		NAV Expedient(1)		Total
June 30, 2026:
Money markets	$	80,111	$	—	$	—	$	—	$	80,111
Securities segregated (U.S. Treasury Bills)	—		227,722		—		—		227,722
Derivatives	470		12,277		—		—		12,747


Equity securities	121,555		55,546		126		40		177,267




Other investments	8,482		—		—		—		8,482

Total assets measured at fair value	$	210,618	$	295,545	$	126	$	40	$	506,329




Derivatives	$	1,728	$	16,003	$	—	$	—	$	17,731
Contingent payment arrangements	—		—		8,689		—		8,689
Total liabilities measured at fair value	$	1,728	$	16,003	$	8,689	$	—	$	26,420

December 31, 2025:
Money markets	$	175,029	$	—	$	—	$	—	$	175,029
Securities segregated (U.S. Treasury Bills)	—		498,649		—		—		498,649
Derivatives	832		12,153		—		—		12,985

Equity securities	145,217		66,519		127		37		211,900




Other investments	9,003		—		—		—		9,003

Total assets measured at fair value	$	330,081	$	577,321	$	127	$	37	$	907,566




Derivatives	$	366	$	17,249	$	—	$	—	$	17,615
Contingent payment arrangements	—		—		8,605		—		8,605
Total liabilities measured at fair value	$	366	$	17,249	$	8,605	$	—	$	26,220

(1) Investments measured at fair value using NAV (or its equivalent) as a practical expedient.

Other investments included in Level 1 of the fair value hierarchy include our investment in a mutual fund measured at fair value.

We provide below a description of the fair value methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy:

• Money markets: We invest excess cash in various money market funds that are valued based on quoted prices in active markets; these are included in Level 1 of the valuation hierarchy.

• Treasury Bills: We hold U.S. Treasury Bills, which are primarily segregated in a special reserve bank custody account as required by Rule 15c3-3 of the Exchange Act. These securities are valued based on quoted yields in secondary markets and are included in Level 2 of the valuation hierarchy.

• Equity securities: Our equity securities consist principally of company-sponsored mutual funds with NAVs and various separately-managed portfolios consisting primarily of equity and fixed income mutual funds with quoted prices in active markets, which are included in Level 1 of the valuation hierarchy. In addition, some securities are valued based on observable inputs from recognized pricing vendors, which are included in Level 2 of the valuation hierarchy.

• Derivatives: We hold exchange-traded futures with counterparties that are included in Level 1 of the valuation hierarchy. In addition, we also hold currency forward contracts, interest rate swaps, credit default swaps, option swaps and total return swaps with counterparties that are valued based on observable inputs from recognized pricing vendors, which are included in Level 2 of the valuation hierarchy.

• Contingent payment arrangements: Contingent payment arrangements relate to contingent payment liabilities associated with various acquisitions. At each reporting date, we estimate the fair values of the contingent consideration expected to be paid based upon probability-weighted AUM and revenue projections, using unobservable market data inputs, which are included in Level 3 of the valuation hierarchy.

During the six months ended June 30, 2026 there were no transfers between Level 2 and Level 3 securities.

The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as equity securities, is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Balance as of beginning of period	$	123	$	119	$	127	$	121



Unrealized gains (losses), net	3		2		(1)		—
Balance as of end of period	$	126	$	121	$	126	$	121

Realized and unrealized gains and losses on Level 3 financial instruments are recorded in investment gains and losses in the condensed consolidated statements of income.

Our acquisitions may include contingent consideration arrangements as part of the purchase price. The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as contingent payment arrangements, is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Balance as of beginning of period	$	8,647	$	8,478	$	8,605	$	9,385

Accretion	42		42		84		106

Payments	—		—		—		(971)

Balance as of end of period	$	8,689	$	8,520	$	8,689	$	8,520

As of June 30, 2026, the expected revenue growth rates ranged from 2.0% to 8.0%, with a weighted average of 4.9%, calculated using cumulative revenues and range of revenue growth rates and a discount rate of 1.9%. As of June 30, 2025,

the expected revenue growth rates ranged from 2.0% to 13.3%, with a weighted average of 6.8%, calculated using cumulative revenues and a range of revenue growth rates and a discount rate of 1.9%.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

We did not have any material assets or liabilities that were measured at fair value for impairment on a nonrecurring basis during the six months ended June 30, 2026 or during the year ended December 31, 2025.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
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-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Investments

6 Months Ended

Jun. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Investments

Investments consist of:


	June 30, 2026		December 31, 2025
	(in thousands)

Equity securities:
Long-term incentive compensation-related	$	39,007	$	35,212
Seed capital	138,103		176,545
Other	157		143

Investments in limited partnership hedge funds:
Long-term incentive compensation-related	3,661		18,845
Seed capital	37,718		26,939
Equity method Investments:
Joint ventures	197,109		247,605
Other equity method investments	—		7,429
Time deposits	6,278		6,365
Other	11,376		11,930
Total investments	$	433,409	$	531,013

Total investments related to long-term incentive compensation obligations of $42.7 million and $54.1 million as of June 30, 2026 and December 31, 2025, respectively, consist of company-sponsored mutual funds and hedge funds. For long-term incentive compensation awards granted before 2009, we typically made investments in company-sponsored mutual funds and hedge funds that were notionally elected by plan participants and maintained them (and continue to maintain them) in a consolidated rabbi trust or separate custodial account. The rabbi trust and custodial account enable us to hold such investments separate from our other assets for the purpose of settling our obligations to participants. The investments held in the rabbi trust and custodial account remain available to the general creditors of AB.

The underlying investments of hedge funds in which we invest include long and short positions in equity securities, fixed income securities (including various agency and non-agency asset-based securities), currencies, commodities and

derivatives (including various swaps and forward contracts). These investments are valued at quoted market prices or, where quoted market prices are not available, are fair valued based on the pricing policies and procedures of the underlying funds.

We allocate seed capital to our investment teams to help develop new products and services for our clients. A portion of our seed capital trading investments are equity and fixed income products, primarily in the form of separately-managed account portfolios, U.S. mutual funds, Luxembourg funds, Japanese investment trust management funds or Delaware business trusts. We also may allocate seed capital to investments in private equity funds and other private alternative investment vehicles. Regarding our seed capital investments, the amounts above reflect those funds in which we are not the primary beneficiary of a VIE or hold a controlling financial interest in a VOE. See Note 14, Consolidated Company-Sponsored Investment Funds, for a description of the seed capital investments that we consolidate. As of June 30, 2026 and December 31, 2025, our total seed capital investments were $383.1 million and $372.1 million, respectively. Seed capital investments in unconsolidated company-sponsored investment funds are valued using published net asset values or non-published net asset values if they are not listed on an active exchange but have net asset values that are comparable to funds with published net asset values and have no redemption restrictions.

Investment in the joint venture on the condensed consolidated statement of financial condition is accounted for under the equity method of accounting.

The portion of unrealized gains (losses) related to equity securities, as defined by ASC 321-10, held as of June 30, 2026 and 2025 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Net gains recognized during the period	$	11,367	$	10,495	$	9,122	$	10,408
Less: net gains recognized during the period on equity securities sold during the period	10,548		1,197		14,880		5,767
Unrealized gains (losses) recognized during the period on equity securities held	$	819	$	9,298	$	(5,758)	$	4,641

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings For significant litigation matters, we assess the likelihood of a negative outcome. If a negative outcome is probable and the loss can be reasonably estimated, we record an estimated loss. If a negative outcome is reasonably possible and we can estimate the potential loss or range of loss, or if a negative outcome is probable and we can estimate the potential loss or range of loss beyond any amounts already accrued, we disclose this information. However, predicting outcomes or estimating losses is often challenging due to litigation uncertainties, especially in early stages or complex cases. In such instances, we disclose our inability to predict the outcome or estimate losses. AB may face regulatory inquiries, administrative proceedings, and litigation, some alleging significant damages. While it is possible we could incur losses from these matters, we cannot currently estimate such losses or their range. Management, after consulting with legal counsel, believes that the outcome of any individual or combined matters will not materially affect our operations, financial condition, or liquidity. However, due to inherent uncertainties, future developments could potentially have a material adverse effect on our results, financial condition, or liquidity in future reporting periods. Commitments During the fourth quarter of 2024, we entered into a non-exclusive partnership with Reinsurance Group of America, Incorporated (“RGA”) under which we committed to invest $100.0 million in a reinsurance sidecar vehicle sponsored by RGA and focused on the U.S. asset-intensive reinsurance market. AB will manage private alternative assets for RGA’s general account as part of a separate transaction. As of June 30, 2026, we have funded $0.1 million of this commitment. During the third quarter of 2025, we entered into a non-exclusive partnership with Carlyle Investment Management L.L.C. (the "Asset Management Sponsor") and Fortitude International Ltd. (the "Insurance Sponsor and/or their respective affiliates"), and together (the "Sponsors") under which we committed to invest $100.0 million in a reinsurance sidecar vehicle Carlyle FCA Re, L.P. (the "FCA Re Sidecar"). The FCA Re Sidecar is focused on reinsuring life and annuity liabilities in Asia. AB will manage private alternative assets for the Insurance Sponsor as part of a separate transaction. As of June 30, 2026, we have not funded any of this commitment.

Consolidated Company-Sponsored Investment Funds - Summary of Balance Sheet Amounts (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Condensed Balance Sheet Statements, Captions [Line Items]
Total assets	$ 9,241,119	$ 9,277,776
Liabilities	4,213,864	4,262,658
Redeemable non-controlling interest	230,809	178,967
Partners' capital attributable to AB Unitholders	4,796,446	4,836,151	$ 4,733,718
Total liabilities, non-controlling interest and capital	9,241,119	9,277,776
Company-Sponsored Investment Funds
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	5,843	17,726
Investments	431,095	330,534
Other assets	29,618	25,120
Total assets	466,556	373,380
Liabilities	28,510	25,281
Redeemable non-controlling interest	230,809	178,967
Partners' capital attributable to AB Unitholders	207,237	169,132
Total liabilities, non-controlling interest and capital	466,556	373,380
VIEs
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	5,510	17,617
Investments	405,249	304,035
Other assets	29,279	24,778
Total assets	440,038	346,430
Liabilities	28,478	25,132
Redeemable non-controlling interest	221,047	169,091
Partners' capital attributable to AB Unitholders	190,513	152,207
Total liabilities, non-controlling interest and capital	440,038	346,430
VOEs
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	333	109
Investments	25,846	26,499
Other assets	339	342
Total assets	26,518	26,950
Liabilities	32	149
Redeemable non-controlling interest	9,762	9,876
Partners' capital attributable to AB Unitholders	16,724	16,925
Total liabilities, non-controlling interest and capital	$ 26,518	$ 26,950

Net Income per Unit - Summary of Earnings Per Unit, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Earnings Per Unit [Abstract]
Net income attributable to AB Unitholders	$ 255,222	$ 210,467	$ 550,707	$ 431,266
Weighted average limited partnership Units outstanding – basic (in shares)	294,526	292,064	294,130	292,125
Weighted average limited partnership Units outstanding – diluted (in shares)	294,526	292,064	294,130	292,125
Net income per AB Unit - basic (in dollars per share)	$ 0.86	$ 0.71	$ 1.85	$ 1.46
Net income per AB Unit - diluted (in dollars per share)	$ 0.86	$ 0.71	$ 1.85	$ 1.46

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480070/505-10-S50-6

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479719/606-10-65-2

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-Section 50
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-Publisher FASB
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-Section S50
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-Publisher FASB
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 46: http://www.xbrl.org/2003/role/disclosureRef
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Reference 47: http://www.xbrl.org/2003/role/disclosureRef
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Reference 52: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Offsetting Assets and Liabilities - Summary of Offsetting Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Securities borrowed
Gross Amounts of Recognized Assets	$ 13,425	$ 14,689
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	13,425	14,689
Financial Instruments Collateral	(13,425)	(14,539)
Cash Collateral	0	0
Net Amount	0	150
Derivatives
Gross Amounts of Recognized Assets	12,747	12,985
Gross Amounts Offset in the Statement of Financial Condition	0	0
Net Amounts of Assets Presented in the Statement of Financial Condition	12,747	12,985
Financial Instruments Collateral	0	0
Cash Collateral	(4,836)	(5,547)
Net Amount	$ 7,911	$ 7,438

Investments (Tables)

6 Months Ended

Jun. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

Investments consist of:


	June 30, 2026		December 31, 2025
	(in thousands)

Equity securities:
Long-term incentive compensation-related	$	39,007	$	35,212
Seed capital	138,103		176,545
Other	157		143

Investments in limited partnership hedge funds:
Long-term incentive compensation-related	3,661		18,845
Seed capital	37,718		26,939
Equity method Investments:
Joint ventures	197,109		247,605
Other equity method investments	—		7,429
Time deposits	6,278		6,365
Other	11,376		11,930
Total investments	$	433,409	$	531,013

Summary of Unrealized Gains (Losses) Related to Equity Securities

The portion of unrealized gains (losses) related to equity securities, as defined by ASC 321-10, held as of June 30, 2026 and 2025 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Net gains recognized during the period	$	11,367	$	10,495	$	9,122	$	10,408
Less: net gains recognized during the period on equity securities sold during the period	10,548		1,197		14,880		5,767
Unrealized gains (losses) recognized during the period on equity securities held	$	819	$	9,298	$	(5,758)	$	4,641

Revenue Recognition

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenues for the three and six months ended June 30, 2026 and 2025 consisted of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Subject to contracts with customers:
Investment advisory and services fees
Base fees	$	860,302	$	805,319	$	1,709,484	$	1,623,185
Performance-based fees	46,644		38,659		112,676		75,905

Distribution revenues
All-in-management fees	89,887		86,926		180,695		175,370
12b-1 fees	14,772		15,248		29,538		31,500
Other distribution fees	96,260		96,193		193,504		190,517
Other revenues
Shareholder servicing fees	23,752		21,278		47,940		37,920
JV related revenues	6,628		9,013		12,989		18,347
Other	1,875		3,349		5,940		7,112
	1,140,120		1,075,985		2,292,766		2,159,856
Not subject to contracts with customers:
Dividend and interest income, net of broker-dealer related interest expense	16,689		20,475		34,154		37,308
Investment gains (losses)	13,505		(7,825)		44,564		(28,363)
Other revenues	690		272		1,246		713
	30,884		12,922		79,964		9,658
Total net revenues	$	1,171,004	$	1,088,907	$	2,372,730	$	2,169,514

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
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-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Cash Distributions (Details) - $ / shares		6 Months Ended
Cash Distributions (Details) - $ / shares	Jul. 28, 2026	Jun. 30, 2026
Subsequent Event
Distribution Made to Limited Partner [Line Items]
Distribution declared (in dollars per share)	$ 0.91
AB Holding \| AB
Distribution Made to Limited Partner [Line Items]
General partnership interest in company		1.00%

Fair Value - Additional Information (Details)	Jun. 30, 2026 USD ($)	Jun. 30, 2025
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assets level 2 to level 3 transfers amount	$ 0
Revenue growth rate \| Minimum \| CarVal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.020	0.020
Revenue growth rate \| Maximum \| CarVal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.080	0.133
Revenue growth rate \| Weighted Average \| CarVal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.049	0.068
Discount rate \| CarVal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability	0.019
Discount rate \| Minimum \| CarVal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Acquisition-related contingent liability		0.019

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Business Description, Organization and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed consolidated 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 consolidated 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 consolidated financial statements and the reported amounts of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates. The condensed consolidated 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.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include AB and its majority-owned and/or controlled subsidiaries, and the consolidated entities that are considered to be variable interest entities (“VIEs”) and/or voting interest entities (“VOEs”) in which AB has a controlling financial interest. Non-controlling interests on the condensed consolidated statements of financial condition include the portion of consolidated company-sponsored investment funds in which we do not have direct equity ownership. All significant inter-company transactions and balances among the consolidated entities have been eliminated.
Reclassification	Reclassification During 2026, amounts previously presented on the condensed consolidated statements of income as "contingent payment arrangements" are now presented as part of "amortization of intangible assets." Prior period amounts previously presented as such have been reclassified to conform to the current periods presentation.
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.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This amendment is expected to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This information is not generally presented in the financial statements today. The amendments in this update do not change or remove current expense disclosure requirements. This ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments in this update should be applied either prospectively to financial statements issued for reporting periods after the effective date of this update or retrospectively to any or all periods presented in the financial statements. We are currently evaluating the impacts of the new standard.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
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

Divestitures	6 Months Ended
Divestitures	Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Divestitures	Divestitures On April 1, 2024 (the "Initial Close") AB and Societe Generale ("SocGen") formed a global joint venture with two joint venture holding companies, one outside of North America ( the "ROW JV") and one within North America ("NA JV", and together the "JVs"). As of December 31, 2025, AB owned a 66.7% majority interest in the NA JV while SocGen owned a 51% majority interest in the ROW JV. As a result of the greater value of the business AB contributed to the JVs at the Initial Close, SocGen paid AB $304.0 million in cash to equalize the value of the contributions by AB and SocGen to the JVs. The cash payment of $304.0 million included $102.6 million of prepaid consideration for an option, exercisable by AB during the following five years from the Initial Close, that would result in SocGen having a 51% ownership of the NA JV (the "AB option"). On January 1, 2026 AB entered into an Amended and Restated Shareholder agreement with SocGen, (the "Amendment Agreement") and exercised the AB option to deliver a 17.7% interest in the NA JV to SocGen resulting in AB owning a 49% interest in the NA JV and SocGen having a majority interest of 51% in the NA JV. The prepaid consideration received was in excess of the carrying value of the 17.7% equity in the NA JV resulting in a gain of $48.4 million recognized in the first quarter of 2026. Subsequent to the Amendment Agreement, on January 1, 2026, AB entered into a Contribution Agreement (the "Contribution Agreement") with SocGen. Prior to the Contribution Agreement, SocGen and AB had a 51% and 49% interest in both JVs, respectively. Under the Contribution Agreement, AB contributed its 49% interest in NA JV, and SocGen contributed its 51% interest in NA JV, for an equal interest in newly issued shares of ROW JV resulting in a single JV comprised of the operations and interest of both JVs (the "AB/SG JV"). AB maintains its additional option to sell its ownership interests in the AB/SG JV to SocGen after five years from the Initial Close, at the fair market value of AB’s interests in the AB/SG JV, subject to regulatory approval.

Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Summary of Other Significant Segment Items

Enterprise-wide disclosures as of and for the three months ended June 30, 2026 and 2025 were as follows:

Services

Net revenues derived from our investment management, research and related services for the three and six months ended June 30, 2026 and 2025 were as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
	2026			2025		2026		2025
	(in thousands)
Institutions(1)		$	187,650	$	163,018	$	402,243	$	335,023
Retail(1)		617,055		603,176		1,230,921		1,203,148
Private Wealth Management(1)		326,913		297,428		640,674		596,225



Other		51,898		40,947		124,409		68,297
Total revenues		1,183,516		1,104,569		2,398,247		2,202,693
Less: Broker-dealer related Interest expense		12,512		15,662		25,517		33,179
Net revenues		$	1,171,004	$	1,088,907	$	2,372,730	$	2,169,514

(1) Institutions, Retail and Private Wealth management revenues by channel include investment advisory base fees, performance-based fees, distribution revenues and shareholder servicing fees by channel.

Net revenues related to our U.S. and international operations, for the three and six months ended June 30, 2026 and 2025, were as follows:


		Three Months Ended June 30,				Six Months Ended June 30,
		2026		2025		2026		2025
	(in thousands)
Net revenues:
United States		$	685,098	$	638,219	$	1,393,230	$	1,266,588
International:
Luxembourg		277,994		265,881		543,173		530,074
Japan		133,327		142,175		269,031		282,004
Other International		74,585		42,632		167,296		90,848
Total International		485,906		450,688		979,500		902,926
Total		$	1,171,004	$	1,088,907	$	2,372,730	$	2,169,514

Long-lived assets related to our U.S. and international operations, as of June 30, 2026 and December 31, 2025, were as follows:


		June 30, 2026		December 31, 2025
	(in thousands)
Long-lived assets:
United States		$	4,084,904	$	4,126,410
International		46,572		51,926



Total		$	4,131,476	$	4,178,336

Investments - Summary of Unrealized Gains (Losses) Related to Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]
Net gains recognized during the period	$ 11,367	$ 10,495	$ 9,122	$ 10,408
Less: net gains recognized during the period on equity securities sold during the period	10,548	1,197	14,880	5,767
Unrealized gains (losses) recognized during the period on equity securities held	$ 819	$ 9,298	$ (5,758)	$ 4,641

Units Outstanding

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Units Outstanding

Changes in AB Units outstanding during the six-month period ended June 30, 2026 were as follows:


Outstanding as of December 31, 2025			293,508,421

Units issued			1,372,554
Units retired (1)			(585,402)
Outstanding as of June 30, 2026			294,295,573

(1) During the six months ended June 30, 2026, we purchased 3,700 AB Units in private transactions and retired them.

Derivative Instruments

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

See Note 14, Consolidated Company-Sponsored Investment Funds, for disclosure of derivative instruments held by our consolidated company-sponsored investment funds.

We enter various futures, forwards, options and swaps to economically hedge certain seed capital investments. Also, we have currency forwards that help us to economically hedge certain balance sheet exposures. We do not hold any derivatives designated in a formal hedge relationship under ASC 815-10, Derivatives and Hedging.


			Fair Value
	Notional Value		Derivative Assets		Derivative Liabilities
	(in thousands)
June 30, 2026:
Exchange-traded futures	$	230,224	$	470	$	1,728
Currency forwards	115,238		5,764		4,526
Interest rate swaps	5,735		181		1
Credit default swaps	443,486		1,308		10,575
Total return swaps	37,062		—		883
Option swaps	50,157		5,024		18
Total derivatives	$	881,902	$	12,747	$	17,731

December 31, 2025:
Exchange-traded futures	$	200,332	$	832	$	366
Currency forwards	88,910		5,073		6,102
Interest rate swaps	7,185		181		12
Credit default swaps	371,581		864		10,551
Total return swaps	157,940		1,140		419
Option swaps	50,196		4,895		165
Total derivatives	$	876,144	$	12,985	$	17,615

As of June 30, 2026 and December 31, 2025, the derivative assets and liabilities are included in both receivables and payables to brokers and dealers on our condensed consolidated statements of financial condition.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Exchange-traded futures	$	(8,403)	$	(3,891)	$	(6,249)	$	(3,633)
Currency forwards	1,786		(5,120)		3,627		(5,775)
Interest rate swaps	46		42		(514)		(310)
Credit default swaps	(3,525)		(2,921)		(1,994)		(2,487)
Total return swaps	(3,480)		2,040		(6,215)		(9,377)
Option swaps	54		(1,224)		1,625		(2,268)
Net (losses) on derivative instruments	$	(13,522)	$	(11,074)	$	(9,720)	$	(23,850)

We may be exposed to credit-related losses in the event of non-performance by counterparties to derivative financial instruments. We minimize our counterparty exposure through a credit review and approval process. In addition, we have executed various collateral arrangements with counterparties to the over-the-counter derivative transactions that require both pledging and accepting collateral in the form of cash. As of June 30, 2026 and December 31, 2025, we held $4.8 million and $5.5 million, respectively, of cash collateral payable to trade counterparties. This obligation to return cash is reported in payables to brokers and dealers in our condensed consolidated statements of financial condition.

Although notional amount typically is utilized as the measure of volume in the derivatives market, it is not used as a measure of credit risk. Generally, the current credit exposure of our derivative contracts is limited to the net positive estimated fair value of derivative contracts at the reporting date after taking into consideration the existence of netting agreements and any collateral received. A derivative with positive value (a derivative asset) indicates existence of credit risk because the counterparty would owe us if the contract were closed. Alternatively, a derivative contract with negative value (a derivative liability) indicates we would owe money to the counterparty if the contract were closed. Generally, if

there is more than one derivative transaction with a single counterparty, a master netting arrangement exists with respect to derivative transactions with that counterparty to provide for aggregate net settlement.

Our standardized contracts for over-the-counter derivative transactions, known as ISDA master agreements, provide for collateralization. As of June 30, 2026 and December 31, 2025, we delivered $13.1 million and $10.3 million, respectively, of cash collateral into brokerage accounts. We report this cash collateral in cash and cash equivalents in our condensed consolidated statement of financial condition.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Leases - Additional Information (Details)	6 Months Ended
Leases - Additional Information (Details)	Jun. 30, 2026
Lessee, Lease, Description [Line Items]
Operating and finance lease, maximum term of extension option	5 years
Operating and finance lease, term of termination option	1 year
Minimum
Lessee, Lease, Description [Line Items]
Operating and finance lease, remaining contract term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating and finance lease, remaining contract term	20 years

Debt	6 Months Ended
Debt	Jun. 30, 2026
Debt Disclosure [Abstract]
Debt	Debt Credit Facility AB has an $800.0 million committed, unsecured senior revolving credit facility (the "Credit Facility") with a group of commercial banks and other lenders. The Credit Facility has a maturity date of August 5, 2030. The Credit Facility provides for possible increases in the principal amount by up to an aggregate incremental amount of $200.0 million; any such increase is subject to the consent of the affected lenders. The Credit Facility is available for AB business purposes, including the support of AB’s commercial paper program. Management may draw on the Credit Facility from time to time. The Credit Facility contains affirmative, negative and financial covenants, which are customary for facilities of this type, including restrictions on dispositions of assets, restrictions on liens, a minimum interest coverage ratio and a maximum leverage ratio. As of June 30, 2026, we were in compliance with these covenants. The Credit Facility also includes customary events of default (with customary grace periods, as applicable), including provisions under which, upon the occurrence of an event of default, all outstanding loans may be accelerated and/or lender’s commitments may be terminated. Also, under such provisions, upon the occurrence of certain insolvency-related or bankruptcy-related events of default, all amounts payable under the Credit Facility would automatically become immediately due and payable, and the lender’s commitments automatically would terminate. Amounts under the Credit Facility may be borrowed, repaid and re-borrowed by us from time to time until the maturity of the facility. Voluntary prepayments and commitment reductions requested by us are permitted at any time without a fee (other than customary breakage costs relating to the prepayment of any drawn loans) upon proper notice and subject to a minimum dollar requirement. Borrowings under the Credit Facility bear interest at a rate per annum, which will be, at our option, a rate equal to an applicable margin, which is subject to adjustment based on the credit ratings of AB, plus one of the following indices: a term Secured Overnight Financial Rate; a Prime rate; or the Federal Funds rate. As of June 30, 2026 and December 31, 2025, we had no amounts outstanding under the Credit Facility. Furthermore, during the first six months of 2026 and the full year 2025, we did not draw upon the Credit Facility. EQH Facility AB also has a $900.0 million committed, unsecured senior credit facility (“EQH Facility”) with EQH. The EQH Facility matures on August 31, 2029 and is available for AB's general business purposes. Borrowings under the EQH Facility generally bear interest at a rate per annum based on prevailing overnight commercial paper rates. The EQH Facility contains affirmative, negative and financial covenants which are substantially similar to those in AB’s committed bank facilities. As of June 30, 2026, we were in compliance with these covenants. The EQH Facility also includes customary events of default substantially similar to those in AB’s committed bank facilities, including provisions under which, upon the occurrence of an event of default, all outstanding loans may be accelerated and/or the lender’s commitment may be terminated. Amounts under the EQH Facility may be borrowed, repaid and re-borrowed by us from time to time until the maturity of the facility. AB or EQH may reduce or terminate the commitment at any time without penalty upon proper notice. EQH also may terminate the facility immediately upon a change of control of our general partner. As of June 30, 2026 and December 31, 2025, AB had $580.0 million and $810.0 million outstanding under the EQH Facility, with an interest rate of approximately 3.7% for both periods. Average daily borrowings on the EQH Facility for the first six months of 2026 and the full year 2025 were $509.2 million and $392.2 million, respectively, with weighted average interest rates of approximately 3.6% and 4.2%, respectively. EQH Uncommitted Facility In addition to the EQH Facility, AB has a $300.0 million uncommitted, unsecured senior credit facility (“EQH Uncommitted Facility”) with EQH. The EQH Uncommitted Facility matures on August 31, 2029 and is available for AB's general business purposes. Borrowings under the EQH Uncommitted Facility generally bear interest at a rate per annum based on prevailing overnight commercial paper rates. The EQH Uncommitted Facility contains affirmative, negative and financial covenants which are substantially similar to those in the EQH Facility. As of June 30, 2026, we were in compliance with these covenants. As of June 30, 2026 and December 31, 2025 we had no amounts outstanding on the EQH Uncommitted Facility. During the first six months of 2026 and full year 2025, we did not draw upon the EQH Uncommitted Facility. Commercial Paper As of both June 30, 2026 and December 31, 2025 we had no commercial paper outstanding. The commercial paper is short term in nature, and as such, recorded value is estimated to approximate fair value (and considered a Level 2 security in the fair value hierarchy). Average daily borrowings of commercial paper during the first six months of 2026 and full year 2025 were $187.5 million and $199.5 million, respectively, with weighted average interest rates of approximately 3.8% and 4.4%, respectively. SCB Lines of Credit SCB LLC had three uncommitted lines of credit with three financial institutions, two of these lines of credit allowed SCB LLC to borrow up to an aggregate of $150.0 million. One of these lines of credit was terminated March 20, 2026. As of June 30, 2026 SCB LLC has two uncommitted lines of credit with two financial institutions. One of these lines of credit permits SCB LLC to borrow up to an aggregate of approximately $100.0 million, with AB named as an additional borrower, while the other line has no stated limit. AB has agreed to guarantee the obligations of SCB LLC under these lines of credit. As of June 30, 2026 and December 31, 2025, SCB LLC had no outstanding balance on these lines of credit. Average daily borrowings on these lines of credit during the first six months of 2026 and full year 2025 were $0.8 million and $0.5 million, respectively, with weighted average interest rates of approximately 6.8% and 7.3%, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a))
-Publisher FASB
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Business Description, Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business Description Organization and Basis of Presentation

Business Description, Organization and Basis of Presentation

Business Description

We provide diversified investment management and related services globally to a broad range of clients. Our principal services include:

• Institutional Services – servicing our 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 our 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 our 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.

We also provide distribution, shareholder servicing, transfer agency services and administrative services to the mutual funds we sponsor.

Our 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.

We provide 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;

•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 AllianceBernstein Holding L.P. (“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 June 30, 2026, the ownership structure of AB, including limited partnership units outstanding as well as the general partner's 1.0% interest, was as follows:


EQH and its subsidiaries	68.0	%
AB Holding	31.3
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 68.1% economic interest in AB as of June 30, 2026.

Basis of Presentation

The interim condensed consolidated 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 consolidated 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 consolidated financial statements and the reported amounts of revenues and expenses during the interim reporting periods. Actual results could differ from those estimates. The condensed consolidated 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.

Principles of Consolidation

The condensed consolidated financial statements include AB and its majority-owned and/or controlled subsidiaries, and the consolidated entities that are considered to be variable interest entities (“VIEs”) and/or voting interest entities (“VOEs”) in which AB has a controlling financial interest. Non-controlling interests on the condensed consolidated statements of financial condition include the portion of consolidated company-sponsored investment funds in which we do not have direct equity ownership. All significant inter-company transactions and balances among the consolidated entities have been eliminated.

Reclassification

During 2026, amounts previously presented on the condensed consolidated statements of income as "contingent payment arrangements" are now presented as part of "amortization of intangible assets." Prior period amounts previously presented as such have been reclassified to conform to the current periods presentation.

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.

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Leases [Abstract]
Operating lease cost	$ 17,229	$ 16,226	$ 34,309	$ 32,238
Financing lease cost:
Amortization of right-of-use assets	1,390	1,502	2,599	2,641
Interest on lease liabilities	118	139	205	208
Total finance lease cost	1,508	1,641	2,804	2,849
Variable lease cost	3,772	2,491	7,560	5,777
Sublease income	(1,092)	(738)	(2,188)	(1,265)
Net lease cost	$ 21,417	$ 19,620	$ 42,485	$ 39,599

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Summary of Revenues

Revenues for the three and six months ended June 30, 2026 and 2025 consisted of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Subject to contracts with customers:
Investment advisory and services fees
Base fees	$	860,302	$	805,319	$	1,709,484	$	1,623,185
Performance-based fees	46,644		38,659		112,676		75,905

Distribution revenues
All-in-management fees	89,887		86,926		180,695		175,370
12b-1 fees	14,772		15,248		29,538		31,500
Other distribution fees	96,260		96,193		193,504		190,517
Other revenues
Shareholder servicing fees	23,752		21,278		47,940		37,920
JV related revenues	6,628		9,013		12,989		18,347
Other	1,875		3,349		5,940		7,112
	1,140,120		1,075,985		2,292,766		2,159,856
Not subject to contracts with customers:
Dividend and interest income, net of broker-dealer related interest expense	16,689		20,475		34,154		37,308
Investment gains (losses)	13,505		(7,825)		44,564		(28,363)
Other revenues	690		272		1,246		713
	30,884		12,922		79,964		9,658
Total net revenues	$	1,171,004	$	1,088,907	$	2,372,730	$	2,169,514

Consolidated Company-Sponsored Investment Funds (Tables)

6 Months Ended

Jun. 30, 2026

Consolidated Company-Sponsored Investment Funds [Abstract]

Summary of Balances of Consolidated VIEs and VOEs included in Statement of Financial Condition

The balances of consolidated VIEs and VOEs included in our condensed consolidated statements of financial condition were as follows:


	June 30, 2026						December 31, 2025
	(in thousands)
	VIEs		VOEs		Total		VIEs		VOEs		Total
Cash and cash equivalents	$	5,510	$	333	$	5,843	$	17,617	$	109	$	17,726
Investments	405,249		25,846		431,095		304,035		26,499		330,534
Other assets	29,279		339		29,618		24,778		342		25,120
Total assets	$	440,038	$	26,518	$	466,556	$	346,430	$	26,950	$	373,380

Liabilities	$	28,478	$	32	$	28,510	$	25,132	$	149	$	25,281
Redeemable non-controlling interest	221,047		9,762		230,809		169,091		9,876		178,967
Partners' capital attributable to AB Unitholders	190,513		16,724		207,237		152,207		16,925		169,132
Total liabilities, redeemable non-controlling interest and partners' capital	$	440,038	$	26,518	$	466,556	$	346,430	$	26,950	$	373,380

Summary of Redeemable Noncontrolling Interest

Changes in the redeemable non-controlling interest balance during the six-month period ended June 30, 2026 are as follows (in thousands):



Redeemable non-controlling interest as of December 31, 2025	$	178,967
Deconsolidated funds	(9,807)
Changes in third-party seed investments in consolidated funds	61,649
Redeemable non-controlling interest as of June 30, 2026	$	230,809

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Valuation of our financial instruments by pricing observability levels as of June 30, 2026 and December 31, 2025 was as follows (in thousands):


	Level 1		Level 2		Level 3		NAV Expedient(1)		Total
June 30, 2026:
Money markets	$	80,111	$	—	$	—	$	—	$	80,111
Securities segregated (U.S. Treasury Bills)	—		227,722		—		—		227,722
Derivatives	470		12,277		—		—		12,747


Equity securities	121,555		55,546		126		40		177,267




Other investments	8,482		—		—		—		8,482

Total assets measured at fair value	$	210,618	$	295,545	$	126	$	40	$	506,329




Derivatives	$	1,728	$	16,003	$	—	$	—	$	17,731
Contingent payment arrangements	—		—		8,689		—		8,689
Total liabilities measured at fair value	$	1,728	$	16,003	$	8,689	$	—	$	26,420

December 31, 2025:
Money markets	$	175,029	$	—	$	—	$	—	$	175,029
Securities segregated (U.S. Treasury Bills)	—		498,649		—		—		498,649
Derivatives	832		12,153		—		—		12,985

Equity securities	145,217		66,519		127		37		211,900




Other investments	9,003		—		—		—		9,003

Total assets measured at fair value	$	330,081	$	577,321	$	127	$	37	$	907,566




Derivatives	$	366	$	17,249	$	—	$	—	$	17,615
Contingent payment arrangements	—		—		8,605		—		8,605
Total liabilities measured at fair value	$	366	$	17,249	$	8,605	$	—	$	26,220

(1) Investments measured at fair value using NAV (or its equivalent) as a practical expedient.

Valuation of consolidated company-sponsored investment funds' financial instruments by pricing observability levels as of June 30, 2026 and December 31, 2025 was as follows (in thousands):


	Level 1		Level 2		Total
June 30, 2026:
Investments - VIEs	$	40,780	$	364,469	$	405,249
Investments - VOEs	335		25,511		25,846
Derivatives - VIEs	401		21,975		22,376

Total assets measured at fair value	$	41,516	$	411,955	$	453,471

Derivatives - VIEs	$	141	$	21,678	$	21,819

Total liabilities measured at fair value	$	141	$	21,678	$	21,819

December 31, 2025:
Investments - VIEs	$	22,477	$	271,558	$	294,035
Investments - VOEs	225		26,274		26,499
Derivatives - VIEs	70		20,007		20,077

Total assets measured at fair value	$	22,772	$	317,839	$	340,611


Derivatives - VIEs	$	112	$	19,972	$	20,084

Total liabilities measured at fair value	$	112	$	19,972	$	20,084

Summary of Offsetting of Derivative Assets

Offsetting of assets as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral		Net Amount
	(in thousands)
June 30, 2026:
Securities borrowed	$	13,425	$	—	$	13,425	$	(13,425)	$	—	$	—
Derivatives	$	12,747	$	—	$	12,747	$	—	$	(4,836)	$	7,911

December 31, 2025:
Securities borrowed	$	14,689	$	—	$	14,689	$	(14,539)	$	—	$	150
Derivatives	$	12,985	$	—	$	12,985	$	—	$	(5,547)	$	7,438

Offsetting of derivative assets of consolidated company-sponsored investment funds as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral Received		Net Amount
	(in thousands)
June 30, 2026:
Derivatives - VIEs	$	22,376	$	—	$	22,376	$	—	$	(260)	$	22,116

December 31, 2025:
Derivatives - VIEs	$	20,077	$	—	$	20,077	$	—	$	—	$	20,077

Summary of Offsetting of Derivative Liabilities

Offsetting of liabilities as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral		Net Amount
	(in thousands)
June 30, 2026:
Securities loaned	$	44	$	—	$	44	$	—	$	(43)	$	1
Derivatives	$	17,731	$	—	$	17,731	$	—	$	(13,132)	$	4,599

December 31, 2025:
Securities loaned	$	51,488	$	—	$	51,488	$	—	$	(50,170)	$	1,318
Derivatives	$	17,615	$	—	$	17,615	$	—	$	(10,293)	$	7,322

Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral Pledged		Net Amount
	(in thousands)
June 30, 2026:
Derivatives - VIEs	$	21,819	$	—	$	21,819	$	—	$	(745)	$	21,074

December 31, 2025:
Derivatives - VIEs	$	20,084	$	—	$	20,084	$	—	$	(492)	$	19,592

- Definition

Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

+ References + Details

- Definition

Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements.

+ References + Details

Long-term Incentive Compensation Plans - Additional Information (Details) - shares shares in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
AB Holding Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Units granted to employees and eligible directors (in shares)	1.6	1.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Leases

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Leases

We lease office space, furniture and office equipment under various operating and financing leases. Our current leases have remaining lease terms of one year to 20 years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year.

Leases included in the condensed consolidated statement of financial condition as of June 30, 2026 and December 31, 2025 were as follows:


	Classification	June 30, 2026		December 31, 2025
		(in thousands)
Operating Leases
Operating lease right-of-use assets	Right-of-use assets	$	449,197	$	448,177
Operating lease liabilities	Lease liabilities	512,711		511,308

Finance Leases
Property and equipment, gross	Right-of-use assets	20,570		21,070
Amortization of right-of-use assets	Right-of-use assets	(10,867)		(14,259)
Property and equipment, net		9,703		6,811
Finance lease liabilities	Lease liabilities	10,073		7,270

The components of lease expense included in the condensed consolidated statement of income as of June 30, 2026 and June 30, 2025 were as follows:


		Three Months Ended June 30,				Six Months Ended June 30,
	Classification	2026		2025		2026		2025
		(in thousands)
Operating lease cost	General and administrative	$	17,229	$	16,226	$	34,309	$	32,238
Financing lease cost:
Amortization of right-of-use assets	General and administrative	1,390		1,502		2,599		2,641
Interest on lease liabilities	Interest expense	118		139		205		208
Total finance lease cost		1,508		1,641		2,804		2,849
Variable lease cost (1)	General and administrative	3,772		2,491		7,560		5,777
Sublease income	General and administrative	(1,092)		(738)		(2,188)		(1,265)
Net lease cost		$	21,417	$	19,620	$	42,485	$	39,599

(1) Variable lease expense includes operating expenses, real estate taxes and employee parking.

The sub-lease income represents all revenues received from sub-tenants. It is primarily fixed base rental payments combined with variable reimbursements such as operating expenses, real estate taxes and employee parking. The vast majority of sub-tenant income is derived from our New York metro sub-tenant agreements. Sub-tenant income related to base rent is recorded on a straight-line basis.

Maturities of lease liabilities were as follows:


	Operating Leases		Financing Leases		Total
Year ending December 31,	(in thousands)
2026 (excluding the six months ended June 30, 2026)	$	28,529	$	2,330	$	30,859
2027	65,266		3,730		68,996
2028	59,904		2,409		62,313
2029	57,051		1,539		58,590
2030	56,037		733		56,770
Thereafter	444,154		—		444,154
Total lease payments	710,941		10,741		721,682
Less interest	(198,230)		(668)
Present value of lease liabilities	$	512,711	$	10,073


Lease term and discount rate:
Weighted average remaining lease term (years):
Operating leases	13.13
Finance leases	2.99
Weighted average discount rate:
Operating leases	4.65	%
Finance leases	4.81	%

Supplemental non-cash activity related to leases was as follows:


	Six Months Ended June 30,
	2026	2025
	(in thousands)




Right-of-use assets obtained in exchange for lease obligations(1):
Operating leases	—	78
Finance leases	4,434	1,552

(1) Represents non-cash activity and, accordingly, is not reflected in the condensed consolidated statement of cash flows.

Leases

Leases included in the condensed consolidated statement of financial condition as of June 30, 2026 and December 31, 2025 were as follows:


	Classification	June 30, 2026		December 31, 2025
		(in thousands)
Operating Leases
Operating lease right-of-use assets	Right-of-use assets	$	449,197	$	448,177
Operating lease liabilities	Lease liabilities	512,711		511,308

Finance Leases
Property and equipment, gross	Right-of-use assets	20,570		21,070
Amortization of right-of-use assets	Right-of-use assets	(10,867)		(14,259)
Property and equipment, net		9,703		6,811
Finance lease liabilities	Lease liabilities	10,073		7,270

The components of lease expense included in the condensed consolidated statement of income as of June 30, 2026 and June 30, 2025 were as follows:


		Three Months Ended June 30,				Six Months Ended June 30,
	Classification	2026		2025		2026		2025
		(in thousands)
Operating lease cost	General and administrative	$	17,229	$	16,226	$	34,309	$	32,238
Financing lease cost:
Amortization of right-of-use assets	General and administrative	1,390		1,502		2,599		2,641
Interest on lease liabilities	Interest expense	118		139		205		208
Total finance lease cost		1,508		1,641		2,804		2,849
Variable lease cost (1)	General and administrative	3,772		2,491		7,560		5,777
Sublease income	General and administrative	(1,092)		(738)		(2,188)		(1,265)
Net lease cost		$	21,417	$	19,620	$	42,485	$	39,599

(1) Variable lease expense includes operating expenses, real estate taxes and employee parking.

Maturities of lease liabilities were as follows:


	Operating Leases		Financing Leases		Total
Year ending December 31,	(in thousands)
2026 (excluding the six months ended June 30, 2026)	$	28,529	$	2,330	$	30,859
2027	65,266		3,730		68,996
2028	59,904		2,409		62,313
2029	57,051		1,539		58,590
2030	56,037		733		56,770
Thereafter	444,154		—		444,154
Total lease payments	710,941		10,741		721,682
Less interest	(198,230)		(668)
Present value of lease liabilities	$	512,711	$	10,073


Lease term and discount rate:
Weighted average remaining lease term (years):
Operating leases	13.13
Finance leases	2.99
Weighted average discount rate:
Operating leases	4.65	%
Finance leases	4.81	%

Supplemental non-cash activity related to leases was as follows:


	Six Months Ended June 30,
	2026	2025
	(in thousands)




Right-of-use assets obtained in exchange for lease obligations(1):
Operating leases	—	78
Finance leases	4,434	1,552

(1) Represents non-cash activity and, accordingly, is not reflected in the condensed consolidated statement of cash flows.

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Cash and securities segregated, at cost	$ 227,580	$ 496,263
Limited partners, units issued (in shares)	294,295,573	293,508,421
Limited partners, units outstanding (in shares)	294,295,573	293,508,421

Net Income per Unit - Additional Information (Details)	6 Months Ended
Net Income per Unit - Additional Information (Details)	Jun. 30, 2026
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Limited partners interest in company	99.00%
AB Holding \| AB
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
General partnership interest in company	1.00%

Business Description, Organization and Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Ownership Interest, Including Limited Partners

As of June 30, 2026, the ownership structure of AB, including limited partnership units outstanding as well as the general partner's 1.0% interest, was as follows:


EQH and its subsidiaries	68.0	%
AB Holding	31.3
Unaffiliated holders	0.7
	100.0	%

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Dividend and interest income	$ 29,201	$ 36,137	$ 59,671	$ 70,487
Investment gains (losses)	13,505	(7,825)	44,564	(28,363)
Other revenues	32,945	33,912	68,115	64,092
Total revenues	1,183,516	1,104,569	2,398,247	2,202,693
Less: Broker-dealer related interest expense	12,512	15,662	25,517	33,179
Net revenues	1,171,004	1,088,907	2,372,730	2,169,514
Expenses:
Employee compensation and benefits	471,127	439,554	938,684	860,085
Promotion and servicing:
Amortization of deferred sales commissions	21,156	21,150	42,651	41,311
Trade execution, marketing, T&E and other	42,082	40,819	82,599	77,332
General and administrative	135,133	148,018	265,524	295,953
Interest on borrowings	7,099	8,463	14,306	15,601
Amortization of intangible assets	11,181	11,288	22,344	22,589
Total expenses	881,852	866,813	1,756,778	1,711,051
Operating income	289,152	222,094	615,952	458,463
Income taxes	16,782	14,806	34,946	29,481
Net income	272,370	207,288	581,006	428,982
Net income (loss) of consolidated entities attributable to non-controlling interests	17,148	(3,179)	30,299	(2,284)
Net income attributable to AB Unitholders	$ 255,222	$ 210,467	$ 550,707	$ 431,266
Earnings Per Unit [Abstract]
Net income per AB Unit - basic (in dollars per share)	$ 0.86	$ 0.71	$ 1.85	$ 1.46
Net income per AB Unit - diluted (in dollars per share)	$ 0.86	$ 0.71	$ 1.85	$ 1.46
Investment advisory and services fees
Revenues:
Revenue subject to contracts with customers	$ 906,946	$ 843,978	$ 1,822,160	$ 1,699,090
Distribution revenues
Revenues:
Revenue subject to contracts with customers	200,919	198,367	403,737	397,387
Promotion and servicing:
Distribution-related payments	$ 194,074	$ 197,521	$ 390,670	$ 398,180

Business Description, Organization and Basis of Presentation - Summary of Ownership Structure (Details) - AB	6 Months Ended
	Jun. 30, 2026
Distribution Made to Limited Partner [Line Items]
Limited partners or members ownership interest in company	100.00%
EQH and its subsidiaries
Distribution Made to Limited Partner [Line Items]
Limited partners or members ownership interest in company	68.00%
AB Holding
Distribution Made to Limited Partner [Line Items]
Limited partners or members ownership interest in company	31.30%
Unaffiliated holders
Distribution Made to Limited Partner [Line Items]
Limited partners or members ownership interest in company	0.70%

Leases - Summary of Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Operating Leases
Operating lease right-of-use assets	$ 449,197	$ 448,177
Operating lease liabilities	$ 512,711	$ 511,308
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Right-of-use assets	Right-of-use assets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Lease liabilities	Lease liabilities
Finance Leases
Property and equipment, gross	$ 20,570	$ 21,070
Amortization of right-of-use assets	(10,867)	(14,259)
Property and equipment, net	9,703	6,811
Finance lease liabilities	$ 10,073	$ 7,270
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Right-of-use assets	Right-of-use assets
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Lease liabilities	Lease liabilities

Offsetting Assets and Liabilities

6 Months Ended

Jun. 30, 2026

Offsetting [Abstract]

Offsetting Assets and Liabilities

See Note 14, Consolidated Company-Sponsored Investment Funds, for disclosure of offsetting assets and liabilities of our consolidated company-sponsored investment funds.

Offsetting of assets as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral		Net Amount
	(in thousands)
June 30, 2026:
Securities borrowed	$	13,425	$	—	$	13,425	$	(13,425)	$	—	$	—
Derivatives	$	12,747	$	—	$	12,747	$	—	$	(4,836)	$	7,911

December 31, 2025:
Securities borrowed	$	14,689	$	—	$	14,689	$	(14,539)	$	—	$	150
Derivatives	$	12,985	$	—	$	12,985	$	—	$	(5,547)	$	7,438

Offsetting of liabilities as of June 30, 2026 and December 31, 2025 was as follows:


	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities Presented in the Statement of Financial Condition		Financial Instruments Collateral		Cash Collateral		Net Amount
	(in thousands)
June 30, 2026:
Securities loaned	$	44	$	—	$	44	$	—	$	(43)	$	1
Derivatives	$	17,731	$	—	$	17,731	$	—	$	(13,132)	$	4,599

December 31, 2025:
Securities loaned	$	51,488	$	—	$	51,488	$	—	$	(50,170)	$	1,318
Derivatives	$	17,615	$	—	$	17,615	$	—	$	(10,293)	$	7,322

Cash collateral, whether pledged or received on derivative instruments, is not considered material and, accordingly, is not disclosed by counterparty.

Fair Value - Summary of Change in Carrying Value of Level 3 Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Fair value measurement Level 3 reconciliation [Abstract]
Balance as of beginning of period	$ 123	$ 119	$ 127	$ 121
Unrealized gains (losses), net	3	2	(1)	0
Balance as of end of period	$ 126	$ 121	$ 126	$ 121

Business Segment Information

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Business Segment Information

Management has assessed the requirements of ASC 280, Segment Reporting, and determined that, because we utilize a consolidated approach to assess performance and allocate resources, we have only one operating segment. We provide diversified investment management, research and related services globally to a broad range of clients through our three distribution channels: Institutions, Retail and Private Wealth Management.

The Chief Operating Decision Maker ("CODM") is the Chief Executive Officer of AB. The CODM evaluates the reported measure of segment profit or loss in assessing segment performance and deciding how to allocate resources. Significant segment expenses are part of the CODM review and are critically important to understand the level of profitability and overall performance of the company. This assessment will determine the way in which the CODM allocates resources to our respective business operations.

Measurement of Segment Profit or Loss and How the CODM Uses the Reported Measure

The CODM regularly receives financial information and management reports that are prepared on a consolidated basis. When assessing profitability, allocating resources and evaluating the underlying performance of our business, the CODM uses condensed consolidated net income as reported on the condensed consolidated statements of income. In applying the requirements under ASC 280, the company has identified significant segment expenses and other segment items related to our one operating segment. The significant expenses considered by the CODM in evaluating the performance of our business are consistent with the financial information included on the company's condensed consolidated statements of income. The measurement of assets as evaluated by the CODM is reported as "Total assets" on the condensed consolidated statements of financial condition. As an additional measure of segment profit or loss, the CODM considers certain adjustments to condensed consolidated net income. While management uses these additional adjusted metrics in assessing and allocating resources to the business, management recognizes that US GAAP principles are the basis of our performance.

Enterprise-wide disclosures as of and for the three months ended June 30, 2026 and 2025 were as follows:

Services

Net revenues derived from our investment management, research and related services for the three and six months ended June 30, 2026 and 2025 were as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
	2026			2025		2026		2025
	(in thousands)
Institutions(1)		$	187,650	$	163,018	$	402,243	$	335,023
Retail(1)		617,055		603,176		1,230,921		1,203,148
Private Wealth Management(1)		326,913		297,428		640,674		596,225



Other		51,898		40,947		124,409		68,297
Total revenues		1,183,516		1,104,569		2,398,247		2,202,693
Less: Broker-dealer related Interest expense		12,512		15,662		25,517		33,179
Net revenues		$	1,171,004	$	1,088,907	$	2,372,730	$	2,169,514

Our AllianceBernstein U.S. Growth Stock, an open-end fund incorporated in Japan, generated approximately 11% of our net revenues for the three and six months ended June 30, 2026, respectively. U.S. Growth Stock generated approximately 12% of our net revenues for the three and six months ended June 30, 2025, respectively.

Geographic Information

Net revenues related to our U.S. and international operations, for the three and six months ended June 30, 2026 and 2025, were as follows:


		Three Months Ended June 30,				Six Months Ended June 30,
		2026		2025		2026		2025
	(in thousands)
Net revenues:
United States		$	685,098	$	638,219	$	1,393,230	$	1,266,588
International:
Luxembourg		277,994		265,881		543,173		530,074
Japan		133,327		142,175		269,031		282,004
Other International		74,585		42,632		167,296		90,848
Total International		485,906		450,688		979,500		902,926
Total		$	1,171,004	$	1,088,907	$	2,372,730	$	2,169,514

Long-lived assets related to our U.S. and international operations, as of June 30, 2026 and December 31, 2025, were as follows:


		June 30, 2026		December 31, 2025
	(in thousands)
Long-lived assets:
United States		$	4,084,904	$	4,126,410
International		46,572		51,926



Total		$	4,131,476	$	4,178,336

Major Customers

No single customer or individual client accounted for more than 10% of our total revenues for the three and six months ended June 30, 2026 and 2025.

- Definition

The entire disclosure for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
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+ Details

Derivative Instruments - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash collateral payable to trade counterparties	$ 4,836	$ 5,547
Cash collateral received	$ 13,132	$ 10,293

- Definition

Amount of obligation to return cash collateral under master netting arrangements that have not been offset against derivative assets.

+ References + Details

- Definition

Amount of right to receive cash collateral under master netting arrangements that have not been offset against derivative liabilities.

+ References + Details

Business Segment Information - Summary of Net Revenues and Long-Lived Assets, Related To Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Geographic Information [Abstract]
Net revenues	$ 1,171,004	$ 1,088,907	$ 2,372,730	$ 2,169,514
Reportable Segment
Geographic Information [Abstract]
Net revenues	1,171,004	1,088,907	2,372,730	2,169,514
Long-lived assets	4,131,476		4,131,476		$ 4,178,336
United States \| Reportable Segment
Geographic Information [Abstract]
Net revenues	685,098	638,219	1,393,230	1,266,588
Long-lived assets	4,084,904		4,084,904		4,126,410
Total International \| Reportable Segment
Geographic Information [Abstract]
Net revenues	485,906	450,688	979,500	902,926
Long-lived assets	46,572		46,572		$ 51,926
Luxembourg \| Reportable Segment
Geographic Information [Abstract]
Net revenues	277,994	265,881	543,173	530,074
Japan \| Reportable Segment
Geographic Information [Abstract]
Net revenues	133,327	142,175	269,031	282,004
Other International \| Reportable Segment
Geographic Information [Abstract]
Net revenues	$ 74,585	$ 42,632	$ 167,296	$ 90,848

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References + Details

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Other commitment		$ 100.0	$ 100.0
Other commitment, funded capital	$ 0.1

Divestitures (Details) $ in Millions		3 Months Ended
Divestitures (Details) $ in Millions	Apr. 01, 2024 USD ($) investment	Mar. 31, 2026 USD ($)	Jan. 01, 2026	Dec. 31, 2025
Joint Venture
Disposal Group, Including Discontinued Operations [Line Items]
Number of joint venture entities \| investment	2
Proceeds from divestiture of businesses \| $	$ 304.0
Consideration for future put option to be exercised \| $	$ 102.6
Joint Venture \| Societe Generale
Disposal Group, Including Discontinued Operations [Line Items]
Option to acquire controlling interest in joint venture, term	5 years
Joint Venture \| Outside of North America
Disposal Group, Including Discontinued Operations [Line Items]
Number of joint venture entities \| investment	1
Joint Venture \| North America
Disposal Group, Including Discontinued Operations [Line Items]
Number of joint venture entities \| investment	1
Joint Venture, North America
Disposal Group, Including Discontinued Operations [Line Items]
Interest in the joint venture				66.70%
Joint Venture, North America \| Amendment Agreement \| AB Holding
Disposal Group, Including Discontinued Operations [Line Items]
Gain on divestiture \| $		$ 48.4
Joint Venture, North America \| Societe Generale \| Amendment Agreement
Disposal Group, Including Discontinued Operations [Line Items]
Interest in the joint venture			51.00%	51.00%
Joint Venture, North America \| Societe Generale \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Disposal Group, Including Discontinued Operations [Line Items]
Interest in the joint venture				51.00%
Joint Venture, North America \| AB Holding \| Amendment Agreement
Disposal Group, Including Discontinued Operations [Line Items]
Interest in the joint venture			49.00%	49.00%
Equity method investment, ownership interest disposed			17.70%
Joint Venture, International \| Societe Generale
Disposal Group, Including Discontinued Operations [Line Items]
Interest in the joint venture				51.00%
AB/SG JV \| Societe Generale \| Contribution Agreement
Disposal Group, Including Discontinued Operations [Line Items]
Interest in the joint venture			51.00%
AB/SG JV \| AB Holding \| Contribution Agreement
Disposal Group, Including Discontinued Operations [Line Items]
Interest in the joint venture			49.00%

Leases (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Summary of Leases

Leases included in the condensed consolidated statement of financial condition as of June 30, 2026 and December 31, 2025 were as follows:


	Classification	June 30, 2026		December 31, 2025
		(in thousands)
Operating Leases
Operating lease right-of-use assets	Right-of-use assets	$	449,197	$	448,177
Operating lease liabilities	Lease liabilities	512,711		511,308

Finance Leases
Property and equipment, gross	Right-of-use assets	20,570		21,070
Amortization of right-of-use assets	Right-of-use assets	(10,867)		(14,259)
Property and equipment, net		9,703		6,811
Finance lease liabilities	Lease liabilities	10,073		7,270

Summary of Components of Lease Expense and Supplemental Cash Flow Information

The components of lease expense included in the condensed consolidated statement of income as of June 30, 2026 and June 30, 2025 were as follows:


		Three Months Ended June 30,				Six Months Ended June 30,
	Classification	2026		2025		2026		2025
		(in thousands)
Operating lease cost	General and administrative	$	17,229	$	16,226	$	34,309	$	32,238
Financing lease cost:
Amortization of right-of-use assets	General and administrative	1,390		1,502		2,599		2,641
Interest on lease liabilities	Interest expense	118		139		205		208
Total finance lease cost		1,508		1,641		2,804		2,849
Variable lease cost (1)	General and administrative	3,772		2,491		7,560		5,777
Sublease income	General and administrative	(1,092)		(738)		(2,188)		(1,265)
Net lease cost		$	21,417	$	19,620	$	42,485	$	39,599

(1) Variable lease expense includes operating expenses, real estate taxes and employee parking.


Lease term and discount rate:
Weighted average remaining lease term (years):
Operating leases	13.13
Finance leases	2.99
Weighted average discount rate:
Operating leases	4.65	%
Finance leases	4.81	%

Supplemental non-cash activity related to leases was as follows:


	Six Months Ended June 30,
	2026	2025
	(in thousands)




Right-of-use assets obtained in exchange for lease obligations(1):
Operating leases	—	78
Finance leases	4,434	1,552

(1) Represents non-cash activity and, accordingly, is not reflected in the condensed consolidated statement of cash flows.

Summary of Maturities of Finance Lease Liabilities

Maturities of lease liabilities were as follows:


	Operating Leases		Financing Leases		Total
Year ending December 31,	(in thousands)
2026 (excluding the six months ended June 30, 2026)	$	28,529	$	2,330	$	30,859
2027	65,266		3,730		68,996
2028	59,904		2,409		62,313
2029	57,051		1,539		58,590
2030	56,037		733		56,770
Thereafter	444,154		—		444,154
Total lease payments	710,941		10,741		721,682
Less interest	(198,230)		(668)
Present value of lease liabilities	$	512,711	$	10,073

Summary of Maturities of Operating Lease Liabilities

Maturities of lease liabilities were as follows:


	Operating Leases		Financing Leases		Total
Year ending December 31,	(in thousands)
2026 (excluding the six months ended June 30, 2026)	$	28,529	$	2,330	$	30,859
2027	65,266		3,730		68,996
2028	59,904		2,409		62,313
2029	57,051		1,539		58,590
2030	56,037		733		56,770
Thereafter	444,154		—		444,154
Total lease payments	710,941		10,741		721,682
Less interest	(198,230)		(668)
Present value of lease liabilities	$	512,711	$	10,073

Derivative Instruments - Summary of Notional Value and Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Derivative [Line Items]
Derivative Assets	$ 12,747	$ 12,985
Derivative Liabilities	17,731	17,615
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Value	881,902	876,144
Derivative Assets	12,747	12,985
Derivative Liabilities	17,731	17,615
Exchange-traded futures \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Value	230,224	200,332
Derivative Assets	470	832
Derivative Liabilities	1,728	366
Currency forwards \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Value	115,238	88,910
Derivative Assets	5,764	5,073
Derivative Liabilities	4,526	6,102
Interest rate swaps \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Value	5,735	7,185
Derivative Assets	181	181
Derivative Liabilities	1	12
Credit default swaps \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Value	443,486	371,581
Derivative Assets	1,308	864
Derivative Liabilities	10,575	10,551
Total return swaps \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Value	37,062	157,940
Derivative Assets	0	1,140
Derivative Liabilities	883	419
Option swaps \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Value	50,157	50,196
Derivative Assets	5,024	4,895
Derivative Liabilities	$ 18	$ 165

Long-term Incentive Compensation Plans - Summary of Share-based Compensation, Employee Stock Purchase Plan, Activity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]
Total amount of AB Holding Units Purchased/Retained (in shares)	0.6	0.4	0.8	1.2
Total Cash Paid for AB Holding Units Purchased/Retained	$ 19.9	$ 13.2	$ 28.7	$ 43.7
Open Market Purchases of AB Holding Units Purchased (in shares)	0.5	0.3	0.6	1.0
Total Cash Paid for Open Market Purchases of AB Holding Units	$ 16.9	$ 12.3	$ 21.6	$ 38.4

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References

+ Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References

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-SubTopic 10
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Business Segment Information - Summary of Net Revenues Derived From Investment Management, Research and Related Services (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenues	$ 1,183,516	$ 1,104,569	$ 2,398,247	$ 2,202,693
Less: Broker-dealer related Interest expense	12,512	15,662	25,517	33,179
Net revenues	1,171,004	1,088,907	2,372,730	2,169,514
Reportable Segment
Revenues:
Total revenues		1,104,569	2,398,247	2,202,693
Less: Broker-dealer related Interest expense	12,512	15,662	25,517	33,179
Net revenues	1,171,004	1,088,907	2,372,730	2,169,514
Institutions \| Reportable Segment
Revenues:
Total revenues	187,650	163,018	402,243	335,023
Retail \| Reportable Segment
Revenues:
Total revenues	617,055	603,176	1,230,921	1,203,148
Private Wealth Management \| Reportable Segment
Revenues:
Total revenues	326,913	297,428	640,674	596,225
Other \| Reportable Segment
Revenues:
Total revenues	$ 51,898	$ 40,947	$ 124,409	$ 68,297

- Definition

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

+ References

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-Name Accounting Standards Codification
-Section 50
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-24

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483013/835-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-3

+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

- Definition

+ References + Details