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Consolidated Company-Sponsored Investment Funds (Tables)
 3 Months Ended
Mar. 31, 2026
Consolidated Company-Sponsored Investment Funds [Abstract]  
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:
March 31, 2026December 31, 2025
(in thousands)
VIEsVOEsTotalVIEsVOEsTotal
Cash and cash equivalents$20,007 $262 $20,269 $17,617 $109 $17,726 
Investments373,576 25,949 399,525 304,035 26,499 330,534 
Other assets28,374 300 28,674 24,778 342 25,120 
Total assets$421,957 $26,511 $448,468 $346,430 $26,950 $373,380 
Liabilities$33,369 $80 $33,449 $25,132 $149 $25,281 
Redeemable non-controlling interest245,937 9,714 255,651 169,091 9,876 178,967 
Partners' capital attributable to AB Unitholders142,651 16,717 159,368 152,207 16,925 169,132 
Total liabilities, redeemable non-controlling interest and partners' capital$421,957 $26,511 $448,468 $346,430 $26,950 $373,380 
Redeemable Noncontrolling Interest
Changes in the redeemable non-controlling interest balance during the three-month period ended March 31, 2026 are as follows (in thousands):
Redeemable non-controlling interest as of December 31, 2025
$178,967 
Deconsolidated funds(1,729)
Changes in third-party seed investments in consolidated funds78,413 
Redeemable non-controlling interest as of March 31, 2026
$255,651 
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Valuation of our financial instruments by pricing observability levels as of March 31, 2026 and December 31, 2025 was as follows (in thousands):
 Level 1Level 2Level 3
NAV Expedient(1)
Total
March 31, 2026:
Money markets$111,611 $— $— $— $111,611 
Securities segregated (U.S. Treasury Bills)— 350,133 — — 350,133 
Derivatives 3,645 16,073 — — 19,718 
Equity securities123,492 54,368 123 36 178,019 
Other investments8,047 — — — 8,047 
Total assets measured at fair value$246,795 $420,574 $123 $36 $667,528 
Derivatives$97 $14,012 $— $— $14,109 
Contingent payment arrangements— — 8,647 — 8,647 
Total liabilities measured at fair value$97 $14,012 $8,647 $— $22,756 
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 securities145,217 66,519 127 37 211,900 
Other investments9,003 — — — 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 March 31, 2026 and December 31, 2025 was as follows (in thousands):
 Level 1Level 2Total
March 31, 2026:
  Investments - VIEs$29,262 $344,314 $373,576 
  Investments - VOEs265 25,684 25,949 
  Derivatives - VIEs348 21,263 21,611 
Total assets measured at fair value$29,875 $391,261 $421,136 
Derivatives - VIEs$326 $24,733 $25,059 
Total liabilities measured at fair value$326 $24,733 $25,059 
December 31, 2025:
  Investments - VIEs$22,477 $271,558 $294,035 
  Investments - VOEs225 26,274 26,499 
  Derivatives - VIEs70 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 
Offsetting of Derivative Assets
Offsetting of assets as of March 31, 2026 and December 31, 2025 was as follows:
 
 Gross Amounts of Recognized AssetsGross Amounts Offset in the Statement of Financial ConditionNet Amounts of Assets Presented in the Statement of Financial ConditionFinancial
Instruments Collateral		Cash CollateralNet
Amount
 (in thousands)
March 31, 2026:
Securities borrowed$1,311 $— $1,311 $(1,311)$— $— 
Derivatives$19,718 $— $19,718 $— $(6,830)$12,888 
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 March 31, 2026 and December 31, 2025 was as follows:
 
 Gross Amounts of Recognized AssetsGross Amounts Offset in the Statement of Financial ConditionNet Amounts of Assets Presented in the Statement of Financial ConditionFinancial
Instruments Collateral		Cash Collateral
Received		Net
Amount
 (in thousands)
March 31, 2026:
Derivatives - VIEs$21,611 $— $21,611 $— $(100)$21,511 
December 31, 2025:     
Derivatives - VIEs$20,077 $— $20,077 $— $— $20,077 
Offsetting of Derivative Liabilities
Offsetting of liabilities as of March 31, 2026 and December 31, 2025 was as follows:
 Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Statement of Financial ConditionNet Amounts of Liabilities Presented in the Statement of Financial ConditionFinancial
Instruments Collateral
Cash Collateral		Net Amount
 (in thousands)
March 31, 2026:
Securities loaned$2,236 $— $2,236 $— $(2,209)$27 
Derivatives$14,109 $— $14,109 $— $(13,033)$1,076 
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 March 31, 2026 and December 31, 2025 was as follows:
 Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Statement of Financial ConditionNet Amounts of Liabilities Presented in the Statement of Financial ConditionFinancial
Instruments Collateral		Cash Collateral
Pledged		Net Amount
 (in thousands)
March 31, 2026:
Derivatives - VIEs$25,059 $— $25,059 $— $(3,609)$21,450 
December 31, 2025:     
Derivatives - VIEs$20,084 $— $20,084 $— $(492)$19,592