MSL

Mackay Shields LLC Portfolio holdings

AUM $3.11B

This Quarter Return

-0.36%

1 Year Return

+0.72%

3 Year Return

+3.33%

5 Year Return

+85.16%

10 Year Return

+107.82%

AUM

$3.11B

AUM Growth

-$283M (-8%)

Cap. Flow

+$42.1M

Cap. Flow % of AUM

1.35%

Top 10 Holdings %Top 10 Hldgs %

20.37%

Holding

158

New

Increased

Reduced

Closed

Top Buys

1	MCHPP Microchip Technology Incorporated Depositary Shares Each Representing a 1/20th Interest in a Share of 7.50% Series A Mandatory Convertible Preferred Stock MCHPP	$25.5M
2	HPE.PRC Hewlett Packard Enterprise Company 7.625% Series C Mandatory Convertible Preferred Stock HPE.PRC	$14.5M
3	NBH Neuberger Berman Municipal Fund NBH	$9.79M
4	BlackRock MuniHoldings California Quality Fund MUC	$9.12M
5	Gulfport Energy Corp GPOR	$6.83M

Top Sells

1	Zillow Z	$17.5M
2	SPDR Bloomberg Convertible Securities ETF CWB	$7.31M
3	Vodafone VOD	$3.75M
4	SPDR Gold Trust GLD	$2.88M
5	MUI BlackRock Municipal Income Fund, Inc. MUI	$2.29M

Sector Composition

1	Energy	1.89%
2	Technology	0.82%
3	Healthcare	0.51%
4	Communication Services	0.23%
5	Consumer Staples	0.01%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
26	26 BlackRock MuniYield Quality Fund II MQT $209M	$10.3M	0.33%	1,026,805 +34,720	+4%	+$347K
27	27 BlackRock MuniVest Fund MVF $374M	$9.96M	0.32%	1,420,434 -114,129	-7%	-$800K
28	NBH 28 Neuberger Berman Municipal Fund NBH $290M	$9.79M	0.31%	+941,392	New	+$9.79M
29	29 Nuveen New York AMT-Free Quality Municipal Income Fund NRK $840M	$8.22M	0.26%	797,635	–	–
30	30 BlackRock MuniYield Michigan Quality Fund MIY $314M	$7.57M	0.24%	664,819	–	–
31	MHI 31 Pioneer Municipal High Income Fund MHI $206M	$7.19M	0.23%	781,340 -12,264	-2%	-$113K
32	32 Vodafone VOD $26.6B	$7.18M	0.23%	766,022 -400,000	-34%	-$3.75M
33	MAV 33 Pioneer Municipal High Income Advantage Fund MAV $197M	$6.8M	0.22%	814,432	–	–
34	34 BlackRock Municipal Income Trust BFK $414M	$6.52M	0.21%	658,712 +106,729	+19%	+$1.06M
35	35 BlackRock MuniYield Fund MYD $454M	$5.89M	0.19%	558,209 +169,456	+44%	+$1.79M
36	36 SPDR Gold Trust GLD $102B	$4.42M	0.14%	15,336 -10,000	-39%	-$2.88M
37	37 BlackRock MuniYield Quality Fund MQY $786M	$4.19M	0.13%	357,837	–	–
38	VFL 38 abrdn National Municipal Income Fund VFL $118M	$4.07M	0.13%	401,695	–	–
39	ENX 39 Eaton Vance New York Municipal Bond Fund ENX $164M	$4.05M	0.13%	426,471	–	–
40	40 Invesco Trust Investment Grade Municipals VGM $519M	$3.69M	0.12%	370,162 -1,666	-0.5%	-$16.6K
41	41 BlackRock Municipal Income Trust II BLE $473M	$3.68M	0.12%	354,024 +202,423	+134%	+$2.1M
42	42 Invesco Advantage Municipal Income Trust II VKI $368M	$3.46M	0.11%	404,961 -40,047	-9%	-$342K
43	43 BlackRock Municipal Income Quality Trust BYM $269M	$3.44M	0.11%	318,938 +286,437	+881%	+$3.09M
44	44 Invesco Municipal Trust VKQ $500M	$3.14M	0.1%	325,107 -3,546	-1%	-$34.2K
45	EIM 45 Eaton Vance Municipal Bond Fund EIM $513M	$3.08M	0.1%	309,392 +35,139	+13%	+$350K
46	46 Nuveen Pennsylvania Quality Municipal Income Fund NQP $408M	$2.62M	0.08%	233,310	–	–
47	47 Nuveen Taxable Municipal Income Fund NBB $457M	$2.51M	0.08%	156,775	–	–
48	48 BlackRock New York Municipal Income Trust BNY $232M	$2.22M	0.07%	218,559 +56,373	+35%	+$573K
49	49 Invesco Municipal Opportunity Trust VMO $612M	$1.97M	0.06%	207,705 +2,367	+1%	+$22.5K
50	50 Invesco Quality Municipal Securities IQI $494M	$1.82M	0.06%	188,306	–	–