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MSL

Mackay Shields LLC Portfolio holdings

AUM $2.73B
1-Year Est. Return 2.13%
This Fund
S&P 500
This Quarter Est. Return
+0.71%
1 Year Est. Return
+2.13%
3 Year Est. Return
+7.81%
5 Year Est. Return
+19%
10 Year Est. Return
+113.23%
AUM
$2.86B
AUM Growth
-$82.5M
Cap. Flow
-$2.26B
Cap. Flow %
-79.08%
Top 10 Hldgs %
23.65%
Holding
140
New
2
Increased
1
Reduced
24
Closed
8

Top Buys

Rank Stock Value
1
BAC.PRL icon
Bank of America Series L
BAC.PRL
+$4.21M
2
CWB icon
State Street SPDR Bloomberg Convertible Securities ETF
CWB
+$1.24M
3
SECR
IQ MacKay Securitized Income ETF
SECR
+$291K

Top Sells

Rank Stock Value
1
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$20.5M
2
NVG icon
Nuveen AMT-Free Municipal Credit Income Fund
NVG
+$14.3M
3
NZF icon
Nuveen Municipal Credit Income Fund
NZF
+$13.6M
4
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$12.4M
5
NAC icon
Nuveen California Quality Municipal Income Fund
NAC
+$5.88M

Sector Composition

Rank Sector Weight
1 Energy 1.95%
2 Technology 1.23%
3 Communication Services 0.23%
4 Consumer Staples 0.03%
5 Healthcare 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NRK icon
26
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$904M
$6.47M 0.23%
641,105
-156,530
-20% -$1.59M
GLD icon
27
SPDR Gold Trust
GLD
$130B
$6.08M 0.21%
15,336
– –
BYM
28
DELISTED
BlackRock Municipal Income Quality Trust
BYM
$5.25M 0.18%
479,613
– –
VFL
29
DELISTED
abrdn National Municipal Income Fund
VFL
$4.13M 0.14%
401,695
– –
NZF icon
30
Nuveen Municipal Credit Income Fund
NZF
$2.41B
$4.08M 0.14%
324,502
-1,081,921
-77% -$13.6M
MQY icon
31
BlackRock MuniYield Quality Fund
MQY
$808M
$4.04M 0.14%
357,837
– –
BLE
32
DELISTED
BlackRock Municipal Income Trust II
BLE
$3.8M 0.13%
363,951
– –
VGM icon
33
Invesco Trust Investment Grade Municipals
VGM
$550M
$3.2M 0.11%
308,543
-61,619
-17% -$629K
VKQ icon
34
Invesco Municipal Trust
VKQ
$536M
$3.14M 0.11%
325,107
– –
EIM
35
Eaton Vance Municipal Bond Fund
EIM
$495M
$3.1M 0.11%
318,814
– –
NQP
36
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$2.73M 0.1%
229,220
-4,090
-2% -$49.3K
BNY
37
DELISTED
BlackRock New York Municipal Income Trust
BNY
$2.22M 0.08%
218,559
– –
VMO icon
38
Invesco Municipal Opportunity Trust
VMO
$647M
$1.97M 0.07%
205,338
-102,367
-33% -$987K
MFM
39
Aberdeen Municipal Income Fund
MFM
$224M
$1.84M 0.06%
339,657
-93,498
-22% -$504K
CWB icon
40
State Street SPDR Bloomberg Convertible Securities ETF
CWB
$5.74B
$1.22M 0.04%
+13,633
New +$1.24M
BKN
41
DELISTED
BlackRock Investment Quality Municipal Trust
BKN
$1.03M 0.04%
92,077
– –
VKI icon
42
Invesco Advantage Municipal Income Trust II
VKI
$394M
$965K 0.03%
105,768
-299,193
-74% -$2.66M
KTF
43
DWS Municipal Income Trust
KTF
$347M
$841K 0.03%
92,505
-38,302
-29% -$351K
TPB icon
44
Turning Point Brands
TPB
$1.42B
$737K 0.03%
6,802
– –
MVT
45
DELISTED
BlackRock MuniVest Fund II
MVT
$710K 0.02%
65,678
– –
WW
46
WW International
WW
$135M
$420K 0.01%
14,371
– –
SECR
47
IQ MacKay Securitized Income ETF
SECR
$163M
$287K 0.01%
+11,136
New +$291K
VPV icon
48
Invesco Pennsylvania Value Municipal Income Trust
VPV
$193M
$151K 0.01%
14,433
– –
ENX
49
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
– –
-421,971
Closed -$4.16M
IQI icon
50
Invesco Quality Municipal Securities
IQI
$526M
– –
-94,994
Closed -$936K
1
2
3

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MASUI
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LMIM
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XL
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CIAS
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CA
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Mackay Shields LLC's Q4 2025 Portfolio in Review

As of Q4 2025, Mackay Shields LLC held 140 positions worth $2.86B, down 2.8% from $2.94B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

Mackay Shields LLC withdrew a net $2.26B in Q4 2025, closing 8 positions and reducing 24 holdings. Its most notable exit was Nuveen AMT-Free Quality Municipal Income Fund, an estimated $20.5M position sold in full.

By sector, the portfolio is most concentrated in Energy at 2% of assets, up from 1.8% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Mackay Shields LLC opened a new position in State Street SPDR Bloomberg Convertible Securities ETF worth $1.22M.

  • Mackay Shields LLC's largest Q4 2025 buy was State Street SPDR Bloomberg Convertible Securities ETF: 13,633 shares worth $1.22M.
  • Mackay Shields LLC added most to Bank of America Series L in Q4 2025, an estimated $4.21M increase.
  • Mackay Shields LLC's biggest Q4 2025 reduction was Nuveen Municipal Credit Income Fund, cutting an estimated $13.6M.
  • Mackay Shields LLC fully exited Nuveen AMT-Free Quality Municipal Income Fund in Q4 2025, selling an estimated $20.5M.
  • Mackay Shields LLC's ten largest holdings make up 24% of its $2.86B portfolio in Q4 2025.
  • Mackay Shields LLC opened 2 new positions and closed 8 in Q4 2025.
  • Mackay Shields LLC's portfolio value fell 2.8% quarter-over-quarter to $2.86B.

Based on Mackay Shields LLC's 13F filing for Q4 2025, filed 29 Jan 2026.