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MMU

Western Asset Managed Municipals Fund
MMU

113 hedge funds and large institutions have $216M invested in Western Asset Managed Municipals Fund in 2025 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 40 increasing their positions, 34 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

18% more repeat investments, than reductions

Existing positions increased: 40 | Existing positions reduced: 34

3% less capital invested

Capital invested by funds: $222M → $216M (-$6.62M)

2% less funds holding

Funds holding: 115 → 113 (-2)

2.92% less ownership

Funds ownership: 41.1% → 38.18% (-2.9%)

11% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 9

Holders
113
Holders Change
-2
Holders Change %
-1.74%
% of All Funds
1.48%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.03%
New
8
Increased
40
Reduced
34
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
HWAM
Hennion & Walsh Asset Management
New Jersey
+$3.62M
2
Bank of America
Bank of America
North Carolina
+$2.53M
3
GC
Guggenheim Capital
Illinois
+$1.82M
4
AAM
Advisors Asset Management
Colorado
+$1.12M
5
Raymond James Financial
Raymond James Financial
Florida
+$902K

Top Sellers

Rank Fund Capital Flow
1
Pathstone Holdings
Pathstone Holdings
New Jersey
-$10.5M
2
RCM
Rivernorth Capital Management
Florida
-$10.2M
3
KIM
Karpus Investment Management
New York
-$2.55M
4
1CP
1607 Capital Partners
Virginia
-$1.2M
5
RIL
Rothschild Investment LLC
Illinois
-$573K
Name Holding Trade Value Shares
Change 		Change in
Stake
LPL Financial
26
LPL Financial
California
$1.24M +$179K +17,814 +18%
Bank of New York Mellon
27
Bank of New York Mellon
New York
$1.19M -$10.3K -1,025 -0.9%
Osaic Holdings
28
Osaic Holdings
Arizona
$1.18M +$55.3K +5,506 +5%
MWM
29
Melfa Wealth Management
Massachusetts
$1.13M – – –
SPIA
30
Steward Partners Investment Advisory
New York
$1.13M +$24.5K +2,441 +2%
N
31
Nuveen
North Carolina
$946K – – –
TCM
32
Traub Capital Management
Massachusetts
$936K -$145K -14,493 -14%
MPW
33
Melone Private Wealth
Michigan
$813K +$10.4K +1,032 +1%
ITIM
34
Indiana Trust & Investment Management
Indiana
$702K – – –
Ameriprise
35
Ameriprise
Minnesota
$699K -$78.8K -7,852 -10%
CPIG
36
Chicago Partners Investment Group
Illinois
$659K +$3.55K +354 +0.6%
PI
37
PFG Investments
New York
$648K +$13.9K +1,381 +2%
Cohen & Steers
38
Cohen & Steers
New York
$548K – – –
MFWP
39
Mosaic Family Wealth Partners
Missouri
$525K +$166K +16,562 +48%
CL
40
Choreo LLC
Illinois
$502K -$3.68K -367 -0.8%
PFS
41
Prospera Financial Services
Texas
$493K -$101K -10,084 -17%
Lido Advisors
42
Lido Advisors
California
$482K +$7.59K +756 +2%
Wealth Enhancement Advisory Services
43
Wealth Enhancement Advisory Services
Minnesota
$465K +$74.1K +7,380 +20%
Janney Montgomery Scott
44
Janney Montgomery Scott
Pennsylvania
$460K – – –
CA
45
Carson Advisory
Georgia
$451K -$25.1K -2,500 -5%
Stifel Financial
46
Stifel Financial
Missouri
$442K -$535K -53,304 -56%
BHWM
47
Bar Harbor Wealth Management
New Hampshire
$431K – – –
CFGSD
48
Compass Financial Group (South Dakota)
South Dakota
$427K +$6.02K +600 +1%
Commonwealth Equity Services
49
Commonwealth Equity Services
Massachusetts
$427K +$166K +16,526 +67%
RP
50
Riverbridge Partners
Minnesota
$425K +$10.1K +1,006 +3%
1
2
3 4 5

MMU Hedge Fund Activity: Q3 2025 in Review

113 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Western Asset Managed Municipals Fund (MMU) for Q3 2025, worth a combined $216M — down 3% from $222M a quarter earlier.

Sellers outnumbered buyers: 9 funds closed out of MMU and 8 opened new positions — a net loss of 1 holder — while 34 trimmed existing stakes and 40 added.

The largest buyer was Hennion & Walsh Asset Management, opening a new position worth an estimated $3.62M. The largest seller was Pathstone Holdings, cutting an estimated $10.5M.

  • 113 institutional investors held Western Asset Managed Municipals Fund (MMU) as of Q3 2025, down from 115 in Q2 2025.
  • Funds reported $216M of Western Asset Managed Municipals Fund stock for Q3 2025, down 3% quarter-over-quarter.
  • 8 funds opened new Western Asset Managed Municipals Fund positions in Q3 2025 and 9 closed out, a net change of -1 holder.
  • The largest Western Asset Managed Municipals Fund buyer in Q3 2025 was Hennion & Walsh Asset Management, an estimated $3.62M added.
  • The largest Western Asset Managed Municipals Fund seller in Q3 2025 was Pathstone Holdings, an estimated $10.5M sold.

Based on aggregated 13F filings for Q3 2025.