MainStay MacKay DefinedTerm Municipal Opportunities Fund
MMD
70 hedge funds and large institutions have $82M invested in MainStay MacKay DefinedTerm Municipal Opportunities Fund in 2026 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 23 increasing their positions, 23 reducing their positions, and 11 closing their positions.
0% more repeat investments, than reductions
Existing positions increased: 23 | Existing positions reduced: 23
4% less capital invested
Capital invested by funds: $85.5M → $82M (-$3.52M)
1.23% less ownership
Funds ownership: 30.63% → 29.4% (-1.2%)
8% less funds holding
Funds holding: 76 → 70 (-6)
36% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 11
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Raymond James Financial
St Petersburg,
Florida
|
+$1.13M |
| 2 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$810K |
| 3 |
NWMP
Noble Wealth Management PBC
Greenwood Village,
Colorado
|
+$520K |
| 4 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$433K |
| 5 |
Invesco
Atlanta,
Georgia
|
+$392K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$1.18M |
| 2 |
Pathstone Holdings
Englewood,
New Jersey
|
-$1.04M |
| 3 |
Balyasny Asset Management
Chicago,
Illinois
|
-$931K |
| 4 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
-$808K |
| 5 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$492K |
MMD Hedge Fund Activity: Q1 2026 in Review
70 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) for Q1 2026, worth a combined $82M — down 4.1% from $85.5M a quarter earlier.
Sellers outnumbered buyers: 11 funds closed out of MMD and 7 opened new positions — a net loss of 4 holders — while 23 trimmed existing stakes and 23 added.
The largest buyer was Raymond James Financial, adding an estimated $1.13M. The largest seller was Wolverine Asset Management, cutting an estimated $1.18M.
- 70 institutional investors held MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD) as of Q1 2026, down from 76 in Q4 2025.
- Funds reported $82M of MainStay MacKay DefinedTerm Municipal Opportunities Fund stock for Q1 2026, down 4.1% quarter-over-quarter.
- 7 funds opened new MainStay MacKay DefinedTerm Municipal Opportunities Fund positions in Q1 2026 and 11 closed out, a net change of -4 holders.
- The largest MainStay MacKay DefinedTerm Municipal Opportunities Fund buyer in Q1 2026 was Raymond James Financial, an estimated $1.13M added.
- The largest MainStay MacKay DefinedTerm Municipal Opportunities Fund seller in Q1 2026 was Wolverine Asset Management, an estimated $1.18M sold.
Based on aggregated 13F filings for Q1 2026.