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SEC filingNet income rose 15.1% to $85.2 million, driven by higher base fees across channels.
Net income for Q1 2026 was $85.2 million, up 15.1% from $74.0 million in Q1 2025. The increase was primarily driven by higher base fees across all client channels, reflecting growth in average assets under management (AUM).
Net cash provided by operating activities was $88.5 million, down from $115.3 million in the prior year. The decrease primarily reflects higher working capital requirements and lower cash distributions from AB, consistent with normal business fluctuations.
Cash flows from operating activities primarily include investment advisory and services fees, offset by operating expenses. Management continues to focus on maintaining sufficient liquidity to fund capital commitments and support strategic initiatives, including potential open-market purchases of AB Holding Units for incentive compensation obligations.