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MMU

Western Asset Managed Municipals Fund
MMU

71 hedge funds and large institutions have $68.8M invested in Western Asset Managed Municipals Fund in 2018 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 10 increasing their positions, 26 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.05% more ownership

Funds ownership: 12.5% → 12.55% (+0.05%)

3% less funds holding

Funds holding: 73 → 71 (-2)

13% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 16

29% less capital invested

Capital invested by funds: $97.6M → $68.8M (-$28.8M)

62% less repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 26

Holders
71
Holders Change
-2
Holders Change %
-2.74%
% of All Funds
1.58%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
14
Increased
10
Reduced
26
Closed
16
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$8.64M
2
WAM
Wakefield Asset Management
Colorado
+$749K
3
HighTower Advisors
HighTower Advisors
Illinois
+$680K
4
GI
Glovista Investments
New Jersey
+$500K
5
BSW
Buckingham Strategic Wealth
Missouri
+$323K

Top Sellers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
-$3.92M
2
CWM
Cornerstone Wealth Management
Missouri
-$2.35M
3
Morgan Stanley
Morgan Stanley
New York
-$1.47M
4
RJFSA
Raymond James Financial Services Advisors
Florida
-$923K
5
CRC
Curi RMB Capital
Illinois
-$702K
Name Holding Trade Value Shares
Change 		Change in
Stake
JFGIW
51
Johnson Financial Group Inc (Wisconsin)
Wisconsin
$74K – – –
TCOV
52
Trust Company of Vermont
Vermont
$64K – – –
Northwestern Mutual Wealth Management
53
Northwestern Mutual Wealth Management
Wisconsin
$41K -$144K -11,840 -78%
IBOK
54
Independence Bank of Kentucky
Kentucky
$38K – – –
AWM
55
Avondale Wealth Management
Texas
$32K – – –
MIM
56
Macroview Investment Management
Maryland
$31K – – –
Citigroup
57
Citigroup
New York
$30K -$12.2K -1,000 -29%
TCM
58
Tradewinds Capital Management
Washington
$27K – – –
Fifth Third Bancorp
59
Fifth Third Bancorp
Ohio
$25K -$28K -2,300 -53%
WCM
60
WealthBridge Capital Management
Ohio
$25K +$24.4K +2,000 New
GWM
61
Geneos Wealth Management
Colorado
$23K -$14.9K -1,224 -41%
MA
62
MUFG Americas
New York
$21K +$20.3K +1,665 New
MFT
63
Moisand Fitzgerald Tamayo
Florida
$17K – – –
CBT
64
Central Bank & Trust
Kentucky
$16K – – –
FC
65
Ferris Capital
Massachusetts
$11K – – –
AIC
66
Ameritas Investment Company
Nebraska
$11K +$10.3K +848 New
UBS AM
67
UBS AM
Illinois
$10.1K – – –
THWM
68
Taylor Hoffman Wealth Management
Virginia
$10K – – –
CCM
69
Cribstone Capital Management
Maine
$9K – – –
AWM
70
Aevitas Wealth Management
Massachusetts
$6K – – –
Northern Trust
71
Northern Trust
Illinois
$2K -$104K -8,528 -38%
RCM
72
Robinson Capital Management
Michigan
– -$3.92M -324,088 Closed
CRC
73
Curi RMB Capital
Illinois
– -$702K -57,929 Closed
LCM
74
Landscape Capital Management
New Jersey
– -$484K -39,976 Closed
WAM
75
Wolverine Asset Management
Illinois
– -$439K -36,326 Closed
1 2
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MMU Hedge Fund Activity: Q4 2018 in Review

71 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Western Asset Managed Municipals Fund (MMU) for Q4 2018, worth a combined $68.8M — down 29% from $97.6M a quarter earlier.

Sellers outnumbered buyers: 16 funds closed out of MMU and 14 opened new positions — a net loss of 2 holders — while 26 trimmed existing stakes and 10 added.

The largest buyer was Fiera Capital (Canada), opening a new position worth an estimated $8.64M. The largest seller was Robinson Capital Management, exiting entirely with an estimated $3.92M sold.

  • 71 institutional investors held Western Asset Managed Municipals Fund (MMU) as of Q4 2018, down from 73 in Q3 2018.
  • Funds reported $68.8M of Western Asset Managed Municipals Fund stock for Q4 2018, down 29% quarter-over-quarter.
  • 14 funds opened new Western Asset Managed Municipals Fund positions in Q4 2018 and 16 closed out, a net change of -2 holders.
  • The largest Western Asset Managed Municipals Fund buyer in Q4 2018 was Fiera Capital (Canada), an estimated $8.64M added.
  • The largest Western Asset Managed Municipals Fund seller in Q4 2018 was Robinson Capital Management, an estimated $3.92M sold.

Based on aggregated 13F filings for Q4 2018.