4 unchanged sentences
Results of Operations
−Removed: Three Months Ended March 31,
−Removed: 2026 2025 % Change
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2026 2025 % Change 2026 2025 % Change
(in thousands, except per unit amounts)
9 unchanged sentences
(1) Distributions reflect the impact of AB’s non-GAAP adjustments.
−Removed: AB Holding's net income for the three months ended March 31, 2026 increased $11.2 million, compared to the three months ended March 31, 2025, primarily due to higher net income attributable to AB Unitholders, partially offset by lower weighted average equity ownership interest in AB.
+Added: AB Holding's net income for the three and six months ended June 30, 2026 increased $1.5 million and $12.7 million, respectively, compared to the corresponding periods in 2025, primarily due to higher net income attributable to AB Unitholders, partially offset by lower weighted average equity ownership interest in AB.
AB Holding’s partnership gross income is derived from its interest in AB.
2 unchanged sentences
investment advisory fees.
−Removed: AB Holding's effective tax rate was 7.6% during the three months ended March 31, 2026 and 10.5% during the three months ended March 31, 2025.
+Added: AB Holding's effective tax rate was 10.4% during the three months ended June 30, 2026, compared to 10.9% during the three months ended June 30, 2025.
+Added: AB Holding's effective tax rate was 8.9% during the six months ended June 30, 2026, compared to 10.7% during the six months ended June 30, 2025.
See Note 7 to the condensed financial statements in Item 1 for the calculation of income tax expense.
11 unchanged sentences
The impact of these adjustments on AB Holding’s net income and net income per AB Holding Unit is as follows:
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30, Six Months Ended June 30,
+Added: 2026 2025 2026 2025
(in thousands, except per Unit amounts)
20 unchanged sentences
Capital Resources and Liquidity
−Removed: During the three months ended March 31, 2026, net cash provided by operating activities was $88.5 million, compared to $115.3 million during the corresponding 2025 period.
+Added: During the six months ended June 30, 2026, net cash provided by operating activities was $165.4 million, compared to $203.9 million during the corresponding 2025 period.
The decrease primarily resulted from lower cash distributions received from AB of $43.2 million.
−Removed: During the three months ended March 31, 2026, net cash used in financing activities was $88.5 million, compared to $115.3 million during the corresponding 2025 period.
+Added: During the six months ended June 30, 2026, net cash used in financing activities was $165.4 million, compared to $203.9 million during the corresponding 2025 period.
The decrease was primarily due to lower cash distributions to Unitholders of $38.3 million.
35 unchanged sentences
Quantitative and Qualitative Disclosures About Market Risk
−Removed: During the first quarter of 2026, there have been no material changes in AB Holding’s market risk from the information provided under “Quantitative and Qualitative Disclosures About Market Risk” in Part II, Item 7A of AB Holding's Form 10-K for the year ended December 31, 2025.
+Added: During the second quarter of 2026, there have been no material changes in AB Holding’s market risk from the information provided under “Quantitative and Qualitative Disclosures About Market Risk” in Part II, Item 7A of AB Holding's Form 10-K for the year ended December 31, 2025.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.