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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
QXO.PRB
1
QXO Inc 5.50% Series B Preferred Stock
QXO.PRB
$485M
$65M 2.28%
1,171,159
-14,926
-1% -$825K
BA.PRA
2
Boeing Co 6.00% Series A Preferred Stock
BA.PRA
$7.37B
$57.7M 2.02%
830,097
-11,884
-1% -$794K
APO.PRA icon
3
Apollo Global Management Series A
APO.PRA
$1.73B
$53.9M 1.89%
714,292
-7,555
-1% -$528K
HPE.PRC
4
Hewlett Packard Enterprise 7.625% Series C Preferred Stock
HPE.PRC
$3.63B
$39.6M 1.39%
597,863
-7,315
-1% -$479K
IAU icon
5
iShares Gold Trust
IAU
$63.4B
$38.6M 1.35%
475,000
-50,000
-10% -$3.91M
MCHPP
6
Microchip Technology Inc 7.50% Series A Preferred Stock
MCHPP
$35.1M 1.23%
601,474
-7,689
-1% -$441K
TALO icon
7
Talos Energy
TALO
$2.47B
$33.2M 1.16%
3,008,435
-90,000
-3% -$942K
BTT icon
8
BlackRock Municipal 2030 Target Term Trust
BTT
$1.44B
$31.1M 1.09%
1,364,127
-55,767
-4% -$1.26M
BAC.PRL icon
9
Bank of America Series L
BAC.PRL
$3.95B
$26.2M 0.92%
20,927
+3,343
+19% +$4.21M
MHD icon
10
BlackRock MuniHoldings Fund
MHD
$615M
$25.4M 0.89%
2,166,270
– –
NEE.PRS
11
NextEra Energy 7.299% Corporate Units
NEE.PRS
$2.15B
$24M 0.84%
463,345
-2,126
-0.5% -$113K
ARES.PRB
12
Ares Management Corp 6.75% Series B Preferred Stock
ARES.PRB
$1.18B
$23.9M 0.84%
473,045
-7,860
-2% -$387K
GPOR icon
13
Gulfport Energy Corp
GPOR
$2.7B
$22.6M 0.79%
108,592
-22,364
-17% -$4.46M
WFC.PRL icon
14
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.69B
$18M 0.63%
14,770
-634
-4% -$781K
MUJ icon
15
BlackRock MuniHoldings New Jersey Quality Fund
MUJ
$648M
$14.7M 0.51%
1,232,873
– –
NBH
16
Neuberger Municipal Fund Inc
NBH
$308M
$12.5M 0.44%
1,233,578
– –
MHN
17
DELISTED
BlackRock MuniHoldings New Yrok Quality Fund
MHN
$12.2M 0.43%
1,191,469
– –
MYN icon
18
BlackRock MuniYield New York Quality Fund
MYN
$382M
$11.6M 0.41%
1,174,171
– –
MUC icon
19
BlackRock MuniHoldings California Quality Fund
MUC
$1.02B
$10.4M 0.36%
981,326
– –
MQT
20
DELISTED
BlackRock MuniYield Quality Fund II
MQT
$10.1M 0.35%
1,008,573
-18,232
-2% -$183K
BFK
21
DELISTED
BlackRock Municipal Income Trust
BFK
$8.36M 0.29%
833,784
– –
MVF
22
DELISTED
BlackRock MuniVest Fund
MVF
$8.26M 0.29%
1,192,311
-31,554
-3% -$219K
MIY icon
23
BlackRock MuniYield Michigan Quality Fund
MIY
$355M
$7.8M 0.27%
664,819
– –
MYD
24
DELISTED
BlackRock MuniYield Fund
MYD
$7.32M 0.26%
697,362
-14,761
-2% -$155K
WBD icon
25
Warner Bros
WBD
$64.8B
$6.52M 0.23%
226,250
-173,750
-43% -$4.06M
1
2 3

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MASUI
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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.