Western Asset Managed Municipals Fund
MMU
88 hedge funds and large institutions have $156M invested in Western Asset Managed Municipals Fund in 2023 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 36 increasing their positions, 26 reducing their positions, and 13 closing their positions.
38% more repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 26
4.69% more ownership
Funds ownership: 35.67% → 40.36% (+4.7%)
2% more capital invested
Capital invested by funds: $154M → $156M (+$2.69M)
3% less funds holding
Funds holding: 91 → 88 (-3)
15% less first-time investments, than exits
New positions opened: 11 | Existing positions closed: 13
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$12.6M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$8.77M |
| 3 |
API
Advisor Partners II
Walnut Creek,
California
|
+$3.64M |
| 4 |
Morgan Stanley
New York
|
+$1.8M |
| 5 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
+$1.69M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$6M |
| 2 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$4.35M |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$893K |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$400K |
| 5 |
VanEck Associates
New York
|
-$348K |
MMU Hedge Fund Activity: Q3 2023 in Review
88 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in Western Asset Managed Municipals Fund (MMU) for Q3 2023, worth a combined $156M — up 1.8% from $154M a quarter earlier.
Sellers outnumbered buyers: 13 funds closed out of MMU and 11 opened new positions — a net loss of 2 holders — while 26 trimmed existing stakes and 36 added.
The largest buyer was Saba Capital Management, adding an estimated $12.6M. The largest seller was Karpus Investment Management, cutting an estimated $6M.
- 88 institutional investors held Western Asset Managed Municipals Fund (MMU) as of Q3 2023, down from 91 in Q2 2023.
- Funds reported $156M of Western Asset Managed Municipals Fund stock for Q3 2023, up 1.8% quarter-over-quarter.
- 11 funds opened new Western Asset Managed Municipals Fund positions in Q3 2023 and 13 closed out, a net change of -2 holders.
- The largest Western Asset Managed Municipals Fund buyer in Q3 2023 was Saba Capital Management, an estimated $12.6M added.
- The largest Western Asset Managed Municipals Fund seller in Q3 2023 was Karpus Investment Management, an estimated $6M sold.
Based on aggregated 13F filings for Q3 2023.