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MMU

Western Asset Managed Municipals Fund
MMU

115 hedge funds and large institutions have $222M invested in Western Asset Managed Municipals Fund in 2025 Q2 according to their latest regulatory filings, with 10 funds opening new positions, 36 increasing their positions, 40 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 10 | Existing positions closed: 5

5% more funds holding

Funds holding: 110 → 115 (+5)

0.42% less ownership

Funds ownership: 41.52% → 41.1% (-0.42%)

5% less capital invested

Capital invested by funds: $234M → $222M (-$11.3M)

10% less repeat investments, than reductions

Existing positions increased: 36 | Existing positions reduced: 40

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
115
Holders Change
+5
Holders Change %
+4.55%
% of All Funds
1.51%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.01%
New
10
Increased
36
Reduced
40
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
+$3.87M
2
GC
Guggenheim Capital
Illinois
+$2.55M
3
AAM
Advisors Asset Management
Colorado
+$1.01M
4
Raymond James Financial
Raymond James Financial
Florida
+$942K
5
LWL
Leo Wealth LLC
Texas
+$549K

Top Sellers

Rank Fund Capital Flow
1
Pathstone Holdings
Pathstone Holdings
New Jersey
-$5.63M
2
RCM
Rivernorth Capital Management
Florida
-$3.32M
3
COLIM
City of London Investment Management
United Kingdom
-$1.01M
4
MPW
Melone Private Wealth
Michigan
-$821K
5
RCM
Robinson Capital Management
Michigan
-$643K
Name Holding Trade Value Shares
Change 		Change in
Stake
Wealth Enhancement Advisory Services
51
Wealth Enhancement Advisory Services
Minnesota
$378K -$40.3K -4,071 -10%
BB
52
Burford Brothers
Texas
$357K – – –
MFWP
53
Mosaic Family Wealth Partners
Missouri
$339K -$116K -11,733 -26%
MML Investors Services
54
MML Investors Services
Massachusetts
$335K +$17.4K +1,758 +5%
ICMP
55
Integrated Capital Management (Pennsylvania)
Pennsylvania
$298K +$49K +4,941 +20%
MC
56
Matisse Capital
Oregon
$294K – – –
Mariner
57
Mariner
Kansas
$293K -$136K -13,689 -32%
CC
58
Capstone Capital
Nevada
$292K – – –
FAG
59
Fortitude Advisory Group
Washington
$264K – – –
MFG
60
Merit Financial Group
Georgia
$263K +$60.8K +6,139 +30%
Cambridge Investment Research Advisors
61
Cambridge Investment Research Advisors
Iowa
$260K +$48.3K +4,871 +23%
CSP
62
Cary Street Partners
Virginia
$260K +$29.7K +3,000 +13%
ACP
63
Aviance Capital Partners
Florida
$257K +$30.7K +3,095 +14%
AIS
64
Accredited Investor Services
Minnesota
$255K -$3.28K -331 -1%
Commonwealth Equity Services
65
Commonwealth Equity Services
Massachusetts
$245K -$227K -22,919 -48%
VCP
66
Verus Capital Partners
Arizona
$228K -$19.8K -2,000 -8%
SP
67
Stonebrook Private
Michigan
$226K +$1.96K +198 +0.9%
CIA
68
Concurrent Investment Advisors
Florida
$212K +$29.7K +3,000 +16%
CCG
69
Catalina Capital Group
California
$205K +$205K +20,665 New
GWM
70
Geneos Wealth Management
Colorado
$203K -$254K -25,651 -56%
PFT
71
Providence First Trust
Arizona
$201K – – –
NAS
72
NWF Advisory Services
California
$177K – – –
JWCA
73
J.W. Cole Advisors
Florida
$176K +$1.56K +158 +0.9%
BCI
74
Brinker Capital Investments
Pennsylvania
$174K +$174K +17,585 New
Millennium Management
75
Millennium Management
New York
$172K +$172K +17,388 New
1 2
3
4 5

MMU Hedge Fund Activity: Q2 2025 in Review

115 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Western Asset Managed Municipals Fund (MMU) for Q2 2025, worth a combined $222M — down 4.8% from $234M a quarter earlier.

Buyers outnumbered sellers: 10 funds opened new MMU positions and 5 closed out — a net gain of 5 holders — while 36 added to existing stakes and 40 trimmed.

The largest buyer was Bank of America, adding an estimated $3.87M. The largest seller was Pathstone Holdings, cutting an estimated $5.63M.

  • 115 institutional investors held Western Asset Managed Municipals Fund (MMU) as of Q2 2025, up from 110 in Q1 2025.
  • Funds reported $222M of Western Asset Managed Municipals Fund stock for Q2 2025, down 4.8% quarter-over-quarter.
  • 10 funds opened new Western Asset Managed Municipals Fund positions in Q2 2025 and 5 closed out, a net change of +5 holders.
  • The largest Western Asset Managed Municipals Fund buyer in Q2 2025 was Bank of America, an estimated $3.87M added.
  • The largest Western Asset Managed Municipals Fund seller in Q2 2025 was Pathstone Holdings, an estimated $5.63M sold.

Based on aggregated 13F filings for Q2 2025.