X0202 SCHEDULE 13D 0002137653 XXXXXXXX LIVE Class A1 Common Shares 05/01/2026 false 0001995668 56062L209 NYLI MacKay Muni Income Opportunities Fund

51 MADISON AVENUE NEW YORK NY 10010

Kevin Bopp 201-685-6187 51 MADISON AVE NEW YORK NY 10010 0002137653 N NYLIM Capital LLC OO N DE 2688.84 0.00 2688.84 0.00 2688.84 N 100 OO This statement on Schedule 13D (the "Schedule 13D") relates to Class A1 common shares ("Class A1 Shares") of NYLI MacKay Municipal Income Opportunities Fund (the "Issuer" or "Fund"), a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "Investment Company Act"), as a non-diversified, closed-end management investment company. The principal executive office of the Fund is located at 51 Madison Ave, New York, NY 10010. Class A1 Common Shares NYLI MacKay Muni Income Opportunities Fund 51 MADISON AVENUE NEW YORK NY 10010 NYLIM Capital LLC NYLIM Capital LLC's sole member and sole interest holder is New York Life Investment Management Holdings LLC, a Delaware limited liability company whose business address is 51 Madison Ave, New York, NY 10010. New York Life Investment Management Holdings LLC has not, during the last five years, been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. NYLIM Capital LLC is member-managed by New York Life Investment Management Holdings LLC. The executive officers of NYLIM Capital LLC, together with the members of the board of managers and executive officers of New York Life Investment Management Holdings LLC, are listed in Exhibit A. 51 Madison Ave, New York, NY 10010 NYLIM Capital LLC is a wholly-owned subsidiary of New York Life Investment Management Holdings LLC organized for the purpose of holding various seed capital holdings under a single legal entity to effectuate improved tracking and oversight of such seed capital investments None None NYLIM Capital LLC is organized in the State of Delaware On May 1, 2026, New York Life Investment Management LLC distributed all of its interests in the Fund's Class A1 Shares, consisting of 2,688.844 shares, to its sole member, New York Life Investment Management Holdings LLC, which in turn contributed all such shares to its wholly owned subsidiary, NYLIM Capital LLC. Both the distribution and the contribution were effected at a price of $10.15 per share. The reported securities were acquired solely in connection with a reorganization to consolidate various seed capital holdings under a single legal entity to facilitate improved tracking and oversight of such seed capital investments. The aggregate number and percentage of the class of securities identified pursuant to Item 1 beneficially owned by the Reporting Person is stated in Items 11 and 13 on the cover page hereto. The information set forth in Items 7 through 11 of the cover page hereto is incorporated herein by reference. Except as disclosed in this Schedule 13D, the Reporting Person has not effected any transactions in Class A1 Shares of the Issuer during the past 60 days. Not Applicable Not Applicable The relationship between NYLIM Capital LLC and New York Life Investment Management Holdings LLC is described in response to Item 2. Exhibit A: NYLIM Capital LLC's executive officers and New York Life Investment Management Holdings LLC members of the board of managers and Executive Officers. NYLIM Capital LLC /s/ Kirk Lehneis 06/08/2026