Company: MMU
Filing Date: 2025-01-28
Form Type: N-CSRS
Source: 0001133228-25-000562
Chunk: 18

Company: WESTERN ASSET MANAGED MUNICIPALS FUND INC.
Filing Date: 2025-01-28
Form: N-CSRS
Chunk 18
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. For the six months ended November 30, 2024, such purchase and sale transactions (excluding accrued interest) were $11,530,000 and $26,535,000, respectively.

Western Asset Managed Municipals Fund Inc. 2024 Semi-Annual Report 41

Notes to financial statements (unaudited) (cont’d)

3. Investments During the six months ended November 30, 2024, the aggregate cost of purchases and proceeds from sales of investments (excluding short-term investments) were as follows:

| Purchases | $85,350,002 |
| Sales     |  84,848,751 |

At November 30, 2024, the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were substantially as follows:

|                   |        Cost* | GrossUnrealizedAppreciation | GrossUnrealizedDepreciation | NetUnrealizedAppreciation |
| Securities        | $895,750,375 |                 $36,982,336 | $(13,070,888)               |               $23,911,448 |
| Futures contracts |            — |                     734,219 | —                           |                   734,219 |

| * | Cost of investments for federal income tax purposes includes the value of Inverse 
 Floaters issued in TOBtransactions (Note 1).                                      |

4. Derivative instruments and hedging activities Below is a table, grouped by derivative type, that provides information about the fair value and the location of derivatives within the Statement of Assets and Liabilities at November 30, 2024.

| ASSET DERIVATIVES1 |                   |
|                    | InterestRate Risk |
| Futures contracts2 |          $734,219 |

| 1 | Generally, the balance sheet location for asset derivatives is receivables/net unrealized                            
 appreciation and forliability derivatives is payables/net unrealized depreciation.                                   |
| 2 | Includes cumulative unrealized appreciation (depreciation) of futures contracts as                                   
 reported in the Schedule ofInvestments. Only net variation margin is reported within the receivables and/or payables 
 on the Statement ofAssets and Liabilities.                                                                           |

The following tables provide information about the effect of derivatives and hedging activities on the Fund’s Statement of Operations for the six months ended November 30, 2024. The first table provides additional detail about the amounts and sources of gains (losses) realized on derivatives during