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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
+0.07%
1 Year Est. Return
+2.13%
3 Year Est. Return
+7.81%
5 Year Est. Return
+19%
10 Year Est. Return
+113.23%
AUM
$1.98B
AUM Growth
-$672M
Cap. Flow
-$1.45B
Cap. Flow %
-73.16%
Top 10 Hldgs %
27.77%
Holding
243
New
6
Increased
16
Reduced
8
Closed
110

Top Buys

Rank Stock Value
1
MTCN
ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX)
MTCN
+$19.6M
2
SWH
Stanley Black & Decker, Inc.
SWH
+$13M
3
AMG icon
Affiliated Managers Group
AMG
+$9.19M
4
TGI
Triumph Group
TGI
+$7.31M
5
MLU
METLIFE, INC. COM EQUITY UNIT
MLU
+$5.68M

Top Sells

Rank Stock Value
1
ALLY.PRA
GMAC Capital Trust I 8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2
ALLY.PRA
+$19M
2
USCR
U S Concrete, Inc.
USCR
+$15.9M
3
C.PRN icon
Citigroup Capital XIII 7.875% Fixed Rate/Floating Rate Trust Preferred Securities
C.PRN
+$4.36M
4
CLV
CLIFFS NAT RES INC. DEPO SHS REPSTG 1/40TH PFD CONV SER A
CLV
+$4.16M
5
NMZ icon
Nuveen Municipal High Income Opportunity Fund
NMZ
+$3.57M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 3.73%
2 Energy 2.21%
3 Financials 1.51%
4 Materials 0.8%
5 Industrials 0.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NCO
51
DELISTED
NUVEEN CALIF MUN MKT OPPOR FD
NCO
$1.36M 0.07%
95,487
+24,806
+35% +$350K
HYMB icon
52
State Street SPDR Nuveen ICE High Yield Municipal Bond ETF
HYMB
$3.06B
$984K 0.05%
36,000
– –
NEE.PRO
53
DELISTED
NEXTERA ENERGY INC UNITS EXPIRING 09/01/2015 (FL)
NEE.PRO
$950K 0.05%
15,491
– –
DYN
54
DELISTED
Dynegy, Inc.
DYN
$327K 0.02%
13,120
– –
MUJ icon
55
BlackRock MuniHoldings New Jersey Quality Fund
MUJ
$639M
$305K 0.02%
22,040
– –
NRK icon
56
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$908M
$218K 0.01%
17,036
– –
NAN icon
57
Nuveen New York Quality Municipal Income Fund
NAN
$376M
$171K 0.01%
12,886
– –
CWB icon
58
State Street SPDR Bloomberg Convertible Securities ETF
CWB
$5.76B
– –
-4,760
Closed -$222K
C.PRN icon
59
Citigroup Capital XIII 7.875% Fixed Rate/Floating Rate Trust Preferred Securities
C.PRN
$2.55B
– –
-160,000
Closed -$4.36M
NMZ icon
60
Nuveen Municipal High Income Opportunity Fund
NMZ
$2.21B
– –
-297,717
Closed -$3.57M
VRNT
61
DELISTED
Verint Systems
VRNT
– –
-104
Closed -$2K
MESG
62
DELISTED
XURA INC COM (DE)
MESG
– –
-41
Closed -$2K
CLV
63
DELISTED
CLIFFS NAT RES INC. DEPO SHS REPSTG 1/40TH PFD CONV SER A
CLV
– –
-181,353
Closed -$4.16M
DXM
64
DELISTED
DEX MEDIA INC NEW COM STK (DE)
DXM
– –
-464
Closed -$3K
NPY
65
DELISTED
NUVEEN (PA)PREM INCM MUNI FD-2
NPY
– –
-163,808
Closed -$1.95M
FNM.PRS
66
DELISTED
FEDERAL NATIONAL MORTGAGE ASSOCIATION PFD SER S (USA)
FNM.PRS
– –
-90,000
Closed -$788K
FRE.PRZ
67
DELISTED
FREDDIE MAC FIXED FLG RT NON CUM PERP PREF
FRE.PRZ
– –
-54,150
Closed -$486K
ALLY.PRA
68
DELISTED
GMAC Capital Trust I 8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2
ALLY.PRA
– –
-709,100
Closed -$19M
1 2
3

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GC
Giverny Capital Montreal, Quebec, Canada $2.73B AUM 14.09% 1-Year Est. Return
PA
Profund Advisors Bethesda, Maryland $2.72B AUM 47.27% 1-Year Est. Return
MASUI
MIRAE ASSET SECURITIES (USA) INC. New York $2.72B AUM 36.56% 1-Year Est. Return
LMIM
Lockheed Martin Investment Management Bethesda, Maryland $2.73B AUM 28.24% 1-Year Est. Return
XL
XN LP New York $2.72B AUM 46.67% 1-Year Est. Return
PCM
Patient Capital Management Baltimore, Maryland $2.74B AUM 43.59% 1-Year Est. Return
CIAS
CBIZ Investment Advisory Services Independence, Ohio $2.74B AUM 14.19% 1-Year Est. Return
CA
Cornerstone Advisors Asheville, North Carolina $2.72B AUM 22.17% 1-Year Est. Return

Mackay Shields LLC's Q1 2014 Portfolio in Review

As of Q1 2014, Mackay Shields LLC held 243 positions worth $1.98B, down 25% from $2.66B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

Mackay Shields LLC withdrew a net $1.45B in Q1 2014, closing 110 positions and reducing 8 holdings. Its most notable exit was GMAC Capital Trust I 8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2, an estimated $19M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 3.7% of assets, up from 3.1% a quarter earlier, followed by Energy and Financials.

Against the trend, Mackay Shields LLC opened a new position in Affiliated Managers Group worth $9.36M.

  • Mackay Shields LLC's largest Q1 2014 buy was Affiliated Managers Group: 46,796 shares worth $9.36M.
  • Mackay Shields LLC added most to ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) in Q1 2014, an estimated $19.6M increase.
  • Mackay Shields LLC's biggest Q1 2014 reduction was U S Concrete, Inc., cutting an estimated $15.9M.
  • Mackay Shields LLC fully exited GMAC Capital Trust I 8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2 in Q1 2014, selling an estimated $19M.
  • Mackay Shields LLC's ten largest holdings make up 28% of its $1.98B portfolio in Q1 2014.
  • Mackay Shields LLC opened 6 new positions and closed 110 in Q1 2014.
  • Mackay Shields LLC's portfolio value fell 25% quarter-over-quarter to $1.98B.

Based on Mackay Shields LLC's 13F filing for Q1 2014, filed 8 May 2014.