No. Fed policy has been to increase the price of money or interest rates in hopes of reducing demand in the economy to combat inflation because it makes borrowing more expensive to borrowers.
It causes M2 to drop, and M2 includes savings account balances and MMFs (so it cannot be explained with "Oh, people just moved money to MMFs", because Savings+MMFs is dropping in general)
This excludes pension fund, mutual fund company, bank, insurance company, or any other large institution.
https://fred.stlouisfed.org/series/WRMFNS
Retail component of money market funds remains part of M2. Meaning that if depositors switched their money to VMFXX (or other retail money market funds), then it'd still be part of M2.