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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HWAM
Hennion & Walsh Asset Management
Parsippany,
New Jersey
|
+$3.62M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
+$2.53M |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$1.82M |
| 4 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$1.12M |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
+$902K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Pathstone Holdings
Englewood,
New Jersey
|
-$10.5M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$10.2M |
| 3 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$2.55M |
| 4 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
-$1.2M |
| 5 |
RIL
Rothschild Investment LLC
Chicago,
Illinois
|
-$573K |
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.