Western Asset Managed Municipals Fund
MMU
116 hedge funds and large institutions have $213M invested in Western Asset Managed Municipals Fund in 2025 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 49 increasing their positions, 25 reducing their positions, and 12 closing their positions.
96% more repeat investments, than reductions
Existing positions increased: 49 | Existing positions reduced: 25
25% more first-time investments, than exits
New positions opened: 15 | Existing positions closed: 12
3% more funds holding
Funds holding: 113 → 116 (+3)
0.75% less ownership
Funds ownership: 38.18% → 37.43% (-0.75%)
1% less capital invested
Capital invested by funds: $216M → $213M (-$2.39M)
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$2.83M |
| 2 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$1.91M |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$1.89M |
| 4 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$1.83M |
| 5 |
Fiera Capital (Canada)
Montreal,
Quebec, Canada
|
+$1.69M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Pathstone Holdings
Englewood,
New Jersey
|
-$7.95M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$7.38M |
| 3 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$4.52M |
| 4 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
-$2.11M |
| 5 |
Bank of New York Mellon
New York
|
-$1.19M |
MMU Hedge Fund Activity: Q4 2025 in Review
116 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Western Asset Managed Municipals Fund (MMU) for Q4 2025, worth a combined $213M — down 1.1% from $216M a quarter earlier.
Buyers outnumbered sellers: 15 funds opened new MMU positions and 12 closed out — a net gain of 3 holders — while 49 added to existing stakes and 25 trimmed.
The largest buyer was Bank of America, adding an estimated $2.83M. The largest seller was Pathstone Holdings, exiting entirely with an estimated $7.95M sold.
- 116 institutional investors held Western Asset Managed Municipals Fund (MMU) as of Q4 2025, up from 113 in Q3 2025.
- Funds reported $213M of Western Asset Managed Municipals Fund stock for Q4 2025, down 1.1% quarter-over-quarter.
- 15 funds opened new Western Asset Managed Municipals Fund positions in Q4 2025 and 12 closed out, a net change of +3 holders.
- The largest Western Asset Managed Municipals Fund buyer in Q4 2025 was Bank of America, an estimated $2.83M added.
- The largest Western Asset Managed Municipals Fund seller in Q4 2025 was Pathstone Holdings, an estimated $7.95M sold.
Based on aggregated 13F filings for Q4 2025.