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Mackay Shields LLC Portfolio holdings
AUM
$2.76B
Turnover
2.83%
1-Year Est. Return
2.8%
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.
This Fund
S&P 500
This Quarter Est. Return
+0.16%
1 Year Est. Return
+2.8%
3 Year Est. Return
+8.26%
5 Year Est. Return
+14.36%
10 Year Est. Return
+115.68%
AUM
$2.36B
AUM Growth
+$165M
(+7.5%)
Cap. Flow
-$1.39B
Cap. Flow % of AUM
Cap. Flow %
-58.9%
Top 10 Holdings %
Top 10 Hldgs %
25.38%
Holding
136
New
5
Increased
8
Reduced
8
Closed
8
Avg Time Held
1.5
years
Top 10 Avg Time Held
1.4
years
Top 20 Avg Time Held
1.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Tower Corporation
AMT.PRB
|
+$46.7M |
| 2 |
Encompass Health
EHC
|
+$37.7M |
| 3 |
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
|
+$35.3M |
| 4 |
Bank of America Series L
BAC.PRL
|
+$27.7M |
| 5 |
BDXA
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
|
+$18.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Tower Corporation
AMT.PRA
|
+$38.1M |
| 2 |
BlackRock MuniHoldings New Jersey Quality Fund
MUJ
|
+$1.19M |
| 3 |
EVM
Eaton Vance California Municipal Bond Fund
EVM
|
+$1.15M |
| 4 |
BlackRock MuniYield Quality Fund II
MQT
|
+$848K |
| 5 |
Franklin Municipal Opportunities Trust
PMO
|
+$817K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 91.61% |
| 2 | Energy | 3.69% |
| 3 | Healthcare | 1.68% |
| 4 | Consumer Discretionary | 1.31% |
| 5 | Industrials | 0.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
SGY
1
DELISTED
Stone Energy
SGY
| $72.1M | 3.05% |
3,920,351
-28,333
| -0.7% | -$605K |
2017 Q1
1 quarter
|
|
|
2
DELISTED
American Tower Corporation
AMT.PRB
| $47.9M | 2.03% |
+396,010
| New | +$46.7M |
2017 Q2
0 quarters
|
|
|
3
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.24B
| $45M | 1.91% |
34,339
+27,712
| +418% | +$35.3M |
2013 Q2
16 quarters
|
|
|
4
Bank of America Series L
BAC.PRL
$3.58B
| $43.9M | 1.86% |
34,690
+22,454
| +184% | +$27.7M |
2013 Q2
16 quarters
|
|
|
5
Encompass Health
EHC
$13.9B
| $39.6M | 1.68% |
+1,029,504
| New | +$37.7M |
2017 Q2
0 quarters
|
|
|
AGN.PRA
6
DELISTED
Allergan plc
AGN.PRA
| $35.7M | 1.51% |
41,259
+328
| +0.8% | +$275K |
2015 Q2
8 quarters
|
|
7
American Eagle Outfitters
AEO
$3.64B
| $30.9M | 1.31% |
2,560,914
+1,034,486
| +68% | +$13M |
2017 Q1
1 quarter
|
|
|
TSNU
8
DELISTED
Tyson Foods, Inc.
TSNU
| $28.1M | 1.19% |
411,901
+5,941
| +1% | +$394K |
2014 Q3
11 quarters
|
|
9
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.2B
| $24.6M | 1.04% |
1,795,140
| – | – |
2016 Q3
3 quarters
|
|
10
SPDR Gold Trust
GLD
$138B
| $22.3M | 0.94% |
189,000
| – | – |
2015 Q2
8 quarters
|
|
11
Nuveen Municipal Credit Income Fund
NZF
$2.26B
| $19.9M | 0.84% |
1,335,931
| – | – |
2015 Q1
9 quarters
|
|
12
DELISTED
T-Mobile US, Inc.5.50% Mandatory Convertible Preferred Stock, Series A
TMUSP
| $19.8M | 0.84% |
200,782
| – | – |
2014 Q4
10 quarters
|
|
|
BDXA
13
DELISTED
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
| $18.6M | 0.79% |
+339,796
| New | +$18.3M |
2017 Q2
0 quarters
|
|
14
DELISTED
Stanley Black & Decker, Inc. Corporate Units
SWP
| $17.7M | 0.75% |
+163,124
| New | +$17.3M |
2017 Q2
0 quarters
|
|
15
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.51B
| $17.1M | 0.72% |
1,130,278
| – | – |
2016 Q2
4 quarters
|
|
16
Delta Air Lines
DAL
$60.4B
| $16.3M | 0.69% |
303,129
| – | – |
2015 Q2
8 quarters
|
|
|
17
Bank of America
BAC
$349B
| $16.2M | 0.68% |
666,299
| – | – |
2015 Q1
9 quarters
|
|
|
18
Franklin Municipal Opportunities Trust
PMO
$288M
| $15.4M | 0.65% |
1,234,990
-66,111
| -5% | -$817K |
2016 Q1
5 quarters
|
|
19
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
| $11.2M | 0.48% |
800,000
| – | – |
2016 Q2
4 quarters
|
|
20
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$844M
| $8.5M | 0.36% |
648,590
| – | – |
2014 Q3
11 quarters
|
|
21
DELISTED
NextEra Energy, Inc.
NEE.PRQ
| $8.45M | 0.36% |
131,590
| – | – |
2015 Q3
7 quarters
|
|
|
VMM
22
DELISTED
Delaware Investments Minnesota Municipal Income Fund II
VMM
| $8.3M | 0.35% |
564,399
| – | – |
2016 Q1
5 quarters
|
|
23
Halliburton
HAL
$26.4B
| $7.98M | 0.34% |
186,718
| – | – |
2014 Q3
11 quarters
|
|
24
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
| $7.53M | 0.32% |
563,000
| – | – |
2014 Q3
11 quarters
|
|
25
iShares Gold Trust
IAU
$61.3B
| $7.5M | 0.32% |
313,950
| – | – |
2017 Q1
1 quarter
|
|
Similar funds
Mackay Shields LLC's Q2 2017 Portfolio in Review
As of Q2 2017, Mackay Shields LLC held 136 positions worth $2.36B, up 7.5% from $2.2B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
Mackay Shields LLC withdrew a net $1.39B in Q2 2017, closing 8 positions and reducing 8 holdings. Its most notable exit was American Tower Corporation, an estimated $38.1M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 92% of assets, down from 93% a quarter earlier, followed by Energy and Healthcare.
Against the trend, Mackay Shields LLC opened a new position in American Tower Corporation worth $47.9M.
- Mackay Shields LLC's largest Q2 2017 buy was American Tower Corporation: 396,010 shares worth $47.9M.
- Mackay Shields LLC added most to Wells Fargo 7.5% Non Cumv Perp Conv in Q2 2017, an estimated $35.3M increase.
- Mackay Shields LLC's biggest Q2 2017 reduction was BlackRock MuniHoldings New Jersey Quality Fund, cutting an estimated $1.19M.
- Mackay Shields LLC fully exited American Tower Corporation in Q2 2017, selling an estimated $38.1M.
- Mackay Shields LLC's ten largest holdings make up 25% of its $2.36B portfolio in Q2 2017.
- Mackay Shields LLC opened 5 new positions and closed 8 in Q2 2017.
- Mackay Shields LLC's portfolio value rose 7.5% quarter-over-quarter to $2.36B.
Based on Mackay Shields LLC's 13F filing for Q2 2017, filed 13 Jul 2017.