United States securities and exchange commission logo
December 1, 2023
Bill Siemers
Interim Chief Financial Officer
AllianceBernstein Holding L.P.
501 Commerce Street
Nashville, TN 37203
Re: AllianceBernstein
Holding L.P.
Form 10-K For the
Fiscal Year Ended December 31, 2022
Filed February 10,
2023
File No. 001-09818
Dear Bill Siemers:
We have limited our review of your filing to the financial
statements and related
disclosures and have the following comment(s).
Please respond to this letter within ten business days by
providing the requested
information or advise us as soon as possible when you will respond. If
you do not believe a
comment applies to your facts and circumstances, please tell us why in
your response.
After reviewing your
response to this letter, we may have additional comments.
Form 10-K for the Fiscal Year Ended December 31, 2022
Management's Discussion and Analysis of Financial Condition and Results
of Operation
Relationship with EQH and its Subsidiaries, page 34
1. We note your disclosure
regarding Equitable Financials' agreement to provide $10 billion
in permanent capital to
build out illiquid offerings, and related note 2 explaining what the
term permanent capital
means. Please revise your disclosures, in future filings, to describe
the conditions under
which this permanent capital may be withdrawn. Also, to the extent it
is material, include
risk factor disclosures regarding the potential withdrawal or any
related impacts due to
this permanent capital.
Capital Resources and Liquidity, page 36
2. We note your discussion
of liquidity and capital resources primarily discusses the
Company's cash flows
from operating, investing and financing activities. Please revise
your disclosures, in
future filings, to provide a more comprehensive discussion of
your major sources of
liquidity and capital resources in addition to your cash flow
Bill Siemers
AllianceBernstein Holding L.P.
December 1, 2023
Page 2
activities. Where applicable, quantify any relevant parameters, terms
or conditions for
available borrowing capacity and the extent to which accessing any
funding sources
correlates to your investment strategies, such as whether it would
require realizing
material gains or losses and other potential consequences.
In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.
Please contact Lory Empie at 202-551-3714 or Robert Klein at
202-551-3847 with any
questions.
FirstName LastNameBill Siemers Sincerely,
Comapany NameAllianceBernstein Holding L.P.
Division of
Corporation Finance
December 1, 2023 Page 2 Office of Finance
FirstName LastName