Mackay Shields LLC Portfolio holdings
MacKay Shields is a fixed income manager, wholly owned through a holding company by New York Life Insurance Company. It started in 1938 as an economic consulting firm, registered as an investment adviser in 1969, and was bought by New York Life in 1984. Separate teams each run their own investment process, offering strategies through custom accounts, mutual funds, ETFs and private funds. Its clients are mainly institutions such as insurance companies, corporate pension funds, endowments and foundations.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lennar Class A
LEN
|
+$13.6M |
| 2 |
ARNC.PRB
Arconic Inc.
ARNC.PRB
|
+$6.48M |
| 3 |
Bank of America Series L
BAC.PRL
|
+$2.74M |
| 4 |
SPDR Gold Trust
GLD
|
+$2.28M |
| 5 |
State Street SPDR Bloomberg Convertible Securities ETF
CWB
|
+$1.31M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Crown Castle International Corp.
CCI.PRA
|
+$31M |
| 2 |
SWH
Stanley Black & Decker, Inc.
SWH
|
+$29M |
| 3 |
FCAM
Fiat Chrysler Automobiles N.V.
FCAM
|
+$12.9M |
| 4 |
Alcoa Inc
AA.PRB
|
+$6.72M |
| 5 |
Delta Air Lines
DAL
|
+$4.39M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 95.77% |
| 2 | Consumer Discretionary | 1.43% |
| 3 | Energy | 1.11% |
| 4 | Industrials | 0.99% |
| 5 | Financials | 0.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
American Tower Corporation
AMT.PRA
| $35.1M | 1.67% |
334,333
-3,409
| -1% | -$365K |
2014 Q2
10 quarters
|
|
|
AGN.PRA
2
DELISTED
Allergan plc
AGN.PRA
| $30.9M | 1.48% |
40,625
-540
| -1% | -$408K |
2015 Q2
6 quarters
|
|
|
TSNU
3
DELISTED
Tyson Foods, Inc.
TSNU
| $27.7M | 1.32% |
406,976
-3,862
| -0.9% | -$278K |
2014 Q3
9 quarters
|
|
4
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.07B
| $23.9M | 1.14% |
1,795,140
| – | – |
2016 Q3
1 quarter
|
|
|
5
SPDR Gold Trust
GLD
$129B
| $20.7M | 0.99% |
189,000
+19,600
| +12% | +$2.28M |
2015 Q2
6 quarters
|
|
6
DELISTED
T-Mobile US, Inc.5.50% Mandatory Convertible Preferred Stock, Series A
TMUSP
| $18.9M | 0.9% |
200,782
| – | – |
2014 Q4
8 quarters
|
|
7
Nuveen Municipal Credit Income Fund
NZF
$2.19B
| $18.9M | 0.9% |
1,335,931
| – | – |
2015 Q1
7 quarters
|
|
8
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.4B
| $16.3M | 0.78% |
1,130,278
| – | – |
2016 Q2
2 quarters
|
|
9
Franklin Municipal Opportunities Trust
PMO
$278M
| $15.4M | 0.74% |
1,290,858
+55,868
| +5% | +$686K |
2016 Q1
3 quarters
|
|
|
10
Delta Air Lines
DAL
$56.9B
| $14.9M | 0.71% |
303,129
-96,389
| -24% | -$4.39M |
2015 Q2
6 quarters
|
|
|
11
Bank of America
BAC
$349B
| $14.7M | 0.7% |
666,299
| – | – |
2015 Q1
7 quarters
|
|
|
12
Bank of America Series L
BAC.PRL
$3.57B
| $14.3M | 0.68% |
12,314
+2,305
| +23% | +$2.74M |
2013 Q2
14 quarters
|
|
|
13
Lennar Class A
LEN
$19.9B
| $13.8M | 0.66% |
+337,133
| New | +$13.6M |
2016 Q4
0 quarters
|
|
14
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
| $11M | 0.53% |
800,000
| – | – |
2016 Q2
2 quarters
|
|
|
SWNC
15
DELISTED
Southwestern Energy Company
SWNC
| $10.8M | 0.51% |
421,336
-4,614
| -1% | -$126K |
2015 Q1
7 quarters
|
|
16
Halliburton
HAL
$27.1B
| $10.1M | 0.48% |
186,718
| – | – |
2014 Q3
9 quarters
|
|
17
General Motors
GM
$72.8B
| $8.95M | 0.43% |
256,982
-42,529
| -14% | -$1.43M |
2013 Q2
14 quarters
|
|
18
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$818M
| $8.31M | 0.4% |
648,590
| – | – |
2014 Q3
9 quarters
|
|
19
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.12B
| $7.96M | 0.38% |
6,689
-136
| -2% | -$169K |
2013 Q2
14 quarters
|
|
|
VMM
20
DELISTED
Delaware Investments Minnesota Municipal Income Fund II
VMM
| $7.63M | 0.36% |
564,399
| – | – |
2016 Q1
3 quarters
|
|
21
DELISTED
NextEra Energy, Inc.
NEE.PRQ
| $7.6M | 0.36% |
131,590
-763
| -0.6% | -$44.3K |
2015 Q3
5 quarters
|
|
22
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
| $7.36M | 0.35% |
563,000
| – | – |
2014 Q3
9 quarters
|
|
23
Marriott International
MAR
$109B
| $7.29M | 0.35% |
88,136
| – | – |
2016 Q3
1 quarter
|
|
|
ENX
24
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
| $6.96M | 0.33% |
565,589
+92,100
| +19% | +$1.17M |
2016 Q2
2 quarters
|
|
|
ARNC.PRB
25
DELISTED
Arconic Inc.
ARNC.PRB
| $6.19M | 0.3% |
+203,178
| New | +$6.48M |
2016 Q4
0 quarters
|
|
Similar funds
Mackay Shields LLC's Q4 2016 Portfolio in Review
As of Q4 2016, Mackay Shields LLC held 124 positions worth $2.1B, down 5.6% from $2.22B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Mackay Shields LLC withdrew a net $1.67B in Q4 2016, closing 6 positions and reducing 12 holdings. Its most notable exit was Crown Castle International Corp., an estimated $31M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 96% of assets, down from 97% a quarter earlier, followed by Consumer Discretionary and Energy.
Against the trend, Mackay Shields LLC opened a new position in Lennar Class A worth $13.8M.
- Mackay Shields LLC's largest Q4 2016 buy was Lennar Class A: 337,133 shares worth $13.8M.
- Mackay Shields LLC added most to Bank of America Series L in Q4 2016, an estimated $2.74M increase.
- Mackay Shields LLC's biggest Q4 2016 reduction was Delta Air Lines, cutting an estimated $4.39M.
- Mackay Shields LLC fully exited Crown Castle International Corp. in Q4 2016, selling an estimated $31M.
- Mackay Shields LLC's ten largest holdings make up 28% of its $2.1B portfolio in Q4 2016.
- Mackay Shields LLC opened 9 new positions and closed 6 in Q4 2016.
- Mackay Shields LLC's portfolio value fell 5.6% quarter-over-quarter to $2.1B.
Based on Mackay Shields LLC's 13F filing for Q4 2016, filed 10 Jan 2017.