MacKay Shields LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 29, 2025), MacKay Shields LLC reported 49 stock positions worth $513.6 million. Its top holding was Nuveen Amt-FR QLTY Muni (XNEAX) at 8.7% of the portfolio, followed by iShares Gold Trust (IAU, 7.6%) and Nuveen Municipal Credit (NZF, 7.1%). Compared with Q4 2024, it opened 3 new positions, sold out of 3, added to 13 and reduced 15. The biggest buy was a new position in Neuberger Municipal Fund (NBH) and the biggest sale an exit from Zillow Class C (Z).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0000061227
- Portfolio Value
- $513.6M (Q1 2025)
- SEC Filing
- 0001085146-25-002417 ↗ filed Apr 29, 2025
Holdings Value
Holdings 49 stocks · $513.6M
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 8.73% | 4,002,639 | $44.8M | Reduce -0.9% |
| IAU iShares Gold Trust | 7.58% | 660,000 | $38.9M | Reduce -4.3% |
| NZF Nuveen Municipal Credit Inc. | 7.10% | 2,979,590 | $36.4M | Reduce -2.2% |
| BTT BlackRock 2030 Muni TRGT TRM | 6.46% | 1,563,907 | $33.2M | Add +11.6% |
| TALO Talos Energy Inc. | 5.93% | 3,132,176 | $30.4M | No change |
| NVG Nuveen Amt-FR Muni CRDT | 5.84% | 2,423,683 | $30.0M | Reduce -1.6% |
| NAD Nuveen Quality Municipal Inc. | 5.00% | 2,229,868 | $25.7M | Reduce -0.4% |
| NAC Nuveen Ca QLTY Muni Inc. | 4.78% | 2,184,910 | $24.6M | Reduce -1.8% |
| MHD BlackRock Muniholdings Fund | 4.53% | 1,979,686 | $23.2M | Add +3.1% |
| FET Forum Energy Technologies Inc. | 3.43% | 875,452 | $17.6M | Reduce -3.9% |
| DHR Danaher Corp. | 3.06% | 76,712 | $15.7M | No change |
| MUJ BlackRock Munihold NJ QLTY | 2.74% | 1,251,050 | $14.1M | No change |
| MHN BlackRock Muniholding NY QLT | 2.36% | 1,194,054 | $12.1M | No change |
| MYN BlackRock Muniyield NY QLTY | 2.22% | 1,146,355 | $11.4M | Add +22.3% |
| MUC BlackRock Munihold Ca QLTY | 2.05% | 981,667 | $10.5M | Add +654.9% |
| GPOR Gulfport Energy Corp. | 2.04% | 56,782 | $10.5M | Add +188.5% |
| XMQTX BlackRock Muniyield QLTY II | 2.00% | 1,026,805 | $10.3M | Add +3.5% |
| XMVFX BlackRock Munivest Fund | 1.94% | 1,420,434 | $10.0M | Reduce -7.4% |
| NBH Neuberger Municipal Fund Inc. | 1.91% | 941,392 | $9.8M | New |
| NRK Nuveen NY Amt-FR Muni Inc. | 1.60% | 797,635 | $8.2M | No change |
| MIY BlackRock Muniyield Mi QLTY | 1.47% | 664,819 | $7.6M | No change |
| XMHIX Pioneer Muni High Inc. TR | 1.40% | 781,340 | $7.2M | Reduce -1.6% |
| VOD Vodafone Group PLC-SP ADR | 1.40% | 766,022 | $7.2M | Reduce -34.3% |
| XPMAX Pioneer Municipal High Inc. | 1.32% | 814,432 | $6.8M | No change |
| BFK BlackRock Municipal Inc. TRST | 1.27% | 658,712 | $6.5M | Add +19.3% |
| XMYDX BlackRock Muniyield Fund | 1.15% | 558,209 | $5.9M | Add +43.6% |
| GLD SPDR Gold Shares | 0.86% | 15,336 | $4.4M | Reduce -39.5% |
| MQY BlackRock Muniyield Quality | 0.82% | 357,837 | $4.2M | No change |
| VFL Abrdn National Municipal Inc. | 0.79% | 401,695 | $4.1M | No change |
| XENWX Eaton Vance New York Municip | 0.79% | 426,471 | $4.0M | No change |
| VGM Invesco Trust for Investmen | 0.72% | 370,162 | $3.7M | Reduce -0.5% |
| BLE BlackRock Muni Inc. TR II | 0.72% | 354,024 | $3.7M | Add +133.5% |
| VKI Invesco Adv Muni Inc. TR II | 0.67% | 404,961 | $3.5M | Reduce -9.0% |
| BYM BlackRock Muni Inc. QLTY | 0.67% | 318,938 | $3.4M | Add +881.3% |
| VKQ Invesco Municipal Trust | 0.61% | 325,107 | $3.1M | Reduce -1.1% |
| EIM Eaton Vance Municipal Bond | 0.60% | 309,392 | $3.1M | Add +12.8% |
| XNQPX Nuveen Pa QLTY Muni Inc. | 0.51% | 233,310 | $2.6M | No change |
| NBB Nuveen Taxable Municipal Inc. | 0.49% | 156,775 | $2.5M | No change |
| XBNYX BlackRock New York Muni Inc. | 0.43% | 218,559 | $2.2M | Add +34.8% |
| VMO Invesco Municipal Opport | 0.38% | 207,705 | $2.0M | Add +1.1% |
| IQI Invesco Quality Muni Inc. TR | 0.35% | 188,306 | $1.8M | No change |
| MFM Aberdeen Municipal Income | 0.34% | 333,155 | $1.8M | No change |
| KTF DWS Municipal Income Trust | 0.32% | 173,963 | $1.6M | No change |
| XBKNX BlackRock Invest QLTY Muni | 0.21% | 92,077 | $1.1M | New |
| NAN Nuveen NY QLTY Muni Inc. | 0.16% | 70,519 | $803K | No change |
| XMVTX BlackRock Munivest Fund II | 0.14% | 65,678 | $694K | New |
| TPB Turning Point Brands Inc. | 0.08% | 6,802 | $404K | No change |
| VPV Invesco Pa Val Muni Inc. | 0.03% | 15,008 | $153K | Reduce -3.5% |
| NINEQ Nine Energy Service Inc. | 0.03% | 120,184 | $136K | No change |
Other holdings (95): bonds, preferreds, convertibles and warrants · $2.6B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 56,019,000 | $79.2M | Add +0.0% |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | 33,232,000 | $77.4M | Reduce -0.4% |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 58,749,000 | $70.2M | Reduce -0.4% |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 64,710,000 | $66.9M | Add +1.0% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 60,916,000 | $64.5M | Reduce -0.1% |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 58,959,000 | $57.6M | Reduce -14.0% |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 43,853,000 | $56.2M | Reduce -0.6% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 41,012,000 | $54.7M | Reduce -0.5% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 728,825 | $53.6M | Reduce -0.7% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 43,373,000 | $53.0M | Add +14.1% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 54,930,000 | $51.8M | Reduce -11.0% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 1,212,815 | $49.6M | Reduce -0.3% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 56,011,000 | $48.4M | Reduce -0.5% |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 34,785,000 | $48.4M | Reduce -12.0% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 48,041,000 | $47.1M | Reduce -17.9% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 45,624,000 | $46.8M | Add +13.7% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 27,958,000 | $45.5M | Reduce -0.3% |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 45,148,000 | $43.9M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 44,185,000 | $43.2M | Add +16.4% |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 53,680,000 | $42.7M | No change |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 34,813,000 | $42.4M | Reduce -0.7% |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 29,561,000 | $41.4M | Reduce -29.5% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 40,000,000 | $40.6M | No change |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 31,006,000 | $37.9M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 37,498,000 | $37.7M | New |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 29,951 | $37.1M | Reduce -0.0% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 622,080 | $36.9M | Reduce -0.8% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 30,140,000 | $36.3M | No change |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 37,718,000 | $36.3M | Add +0.4% |
| PERMIAN RESOURC OPTG LLC (PR 3.25 04/01/28) | NOTE 3.250% 4/0 · principal | 14,774,000 | $36.0M | Reduce -2.5% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 32,356,000 | $34.2M | Reduce -0.2% |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 33,931,000 | $33.9M | Reduce -46.0% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 28,119 | $33.9M | No change |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | 24,294,000 | $32.2M | Reduce -0.9% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 33,812,000 | $31.8M | Reduce -38.1% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 29,835,000 | $31.0M | No change |
| OIL STATES INTL INC (OIS 4.75 04/01/26) | NOTE 4.750% 4/0 · principal | 31,321,000 | $30.7M | No change |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 30,793,000 | $29.9M | No change |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 611,725 | $29.3M | Add +97.8% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 30,445,000 | $28.2M | Add +1.5% |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | 11,323,000 | $27.9M | Reduce -49.3% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 26,453,000 | $27.5M | No change |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | 20,561,000 | $27.2M | No change |
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | 7,890,000 | $27.1M | Reduce -43.5% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 27,430,000 | $26.0M | New |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 25,957,000 | $25.7M | Reduce -1.2% |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | 508,650 | $25.5M | New |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 26,562,000 | $25.5M | Reduce -1.2% |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 32,707,000 | $25.2M | New |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 19,411,000 | $25.0M | Add +29.3% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 25,725,000 | $24.4M | No change |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 24,613,000 | $24.3M | No change |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 25,450,000 | $24.1M | Reduce -45.6% |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 23,717,000 | $23.1M | Reduce -41.3% |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 481,629 | $23.1M | Reduce -0.5% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 22,421,000 | $22.5M | New |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 402,965 | $22.3M | Reduce -0.6% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 20,979,000 | $22.1M | New |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 24,488,000 | $22.1M | Add +7.4% |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 19,205,000 | $21.3M | No change |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 23,215,000 | $20.7M | Reduce -42.8% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 18,656,000 | $19.5M | New |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 18,925,000 | $18.5M | Add +0.8% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 15,351,000 | $17.7M | Add +5.0% |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 17,070,000 | $15.9M | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 15,539,000 | $14.3M | Reduce -39.2% |
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | 3,402,000 | $14.1M | Reduce -56.5% |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 13,787,000 | $13.6M | No change |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 14,908,000 | $13.5M | Reduce -49.6% |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 13,391,000 | $12.8M | Reduce -49.7% |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | 9,965,000 | $11.4M | No change |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | 12,965,000 | $11.2M | No change |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 12,970,000 | $11.1M | New |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 10,117,000 | $10.9M | Reduce -67.8% |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 7,755,000 | $8.5M | No change |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | 8,343,000 | $8.1M | No change |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 8,106,000 | $7.8M | No change |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 7,315,000 | $7.3M | Reduce -48.5% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 5,257,000 | $7.3M | Reduce -3.7% |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 9,818,000 | $7.2M | Reduce -33.3% |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 4,293,000 | $6.3M | Reduce -89.9% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 6,177,000 | $6.1M | No change |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 6,126,000 | $6.0M | Reduce -4.2% |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 6,188,000 | $5.9M | Reduce -12.8% |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 5,129,000 | $5.9M | Reduce -4.2% |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 5,292,000 | $5.5M | Reduce -4.7% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 5,312,000 | $5.0M | Reduce -3.0% |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | 4,217,000 | $4.8M | Reduce -5.1% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 4,343,000 | $3.8M | Add +2.7% |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 3,007,000 | $2.9M | Add +3.2% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 650,000 | $724K | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 500,000 | $561K | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 500,000 | $543K | No change |
| BILL HOLDINGS INC (BILL 0 12/01/25) | NOTE 12/0 · principal | 75,000 | $72K | No change |
| CHEGG INC (CHGG 0 09/01/26) | NOTE 9/0 · principal | 45,000 | $39K | No change |
Total filed on the 13F, all lines: $3.1B.
Portfolio Sells Q4 2024 → Q1 2025
| Z Zillow Group Inc. Class C | Sold out | 0.00% | −3.51 |
| CWB SS SPDR BB Conv Sec ETF | Sold out | 0.00% | −1.47 |
| VOD Vodafone Group PLC-SP ADR | Reduce -34.3% | 1.40% | −0.59 |
| XMUIX BlackRock Municipal Income | Sold out | 0.00% | −0.46 |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | Reduce -0.9% | 8.73% | −0.41 |
| GLD SPDR Gold Shares | Reduce -39.5% | 0.86% | −0.37 |
| NZF Nuveen Municipal Credit Inc. | Reduce -2.2% | 7.10% | −0.34 |
| NAC Nuveen Ca QLTY Muni Inc. | Reduce -1.8% | 4.78% | −0.26 |
| NAD Nuveen Quality Municipal Inc. | Reduce -0.4% | 5.00% | −0.23 |
| XMVFX BlackRock Munivest Fund | Reduce -7.4% | 1.94% | −0.23 |
| NVG Nuveen Amt-FR Muni CRDT | Reduce -1.6% | 5.84% | −0.21 |
| VKI Invesco Adv Muni Inc. TR II | Reduce -9.0% | 0.67% | −0.11 |
| XMHIX Pioneer Muni High Inc. TR | Reduce -1.6% | 1.40% | −0.07 |
| VKQ Invesco Municipal Trust | Reduce -1.1% | 0.61% | −0.04 |
| VGM Invesco Trust for Investmen | Reduce -0.5% | 0.72% | −0.04 |
| VPV Invesco Pa Val Muni Inc. | Reduce -3.5% | 0.03% | −0.00 |
| FET Forum Energy Technologies Inc. | Reduce -3.9% | 3.43% | +0.60 |
| IAU iShares Gold Trust | Reduce -4.3% | 7.58% | +0.73 |
Portfolio Buys Q4 2024 → Q1 2025
| NBH Neuberger Municipal Fund Inc. | New | 1.91% | +1.91 |
| MUC BlackRock Munihold Ca QLTY | Add +654.9% | 2.05% | +1.77 |
| GPOR Gulfport Energy Corp. | Add +188.5% | 2.04% | +1.31 |
| BTT BlackRock 2030 Muni TRGT TRM | Add +11.6% | 6.46% | +0.68 |
| BYM BlackRock Muni Inc. QLTY | Add +881.3% | 0.67% | +0.60 |
| BLE BlackRock Muni Inc. TR II | Add +133.5% | 0.72% | +0.40 |
| XMYDX BlackRock Muniyield Fund | Add +43.6% | 1.15% | +0.34 |
| MYN BlackRock Muniyield NY QLTY | Add +22.3% | 2.22% | +0.32 |
| XBKNX BlackRock Invest QLTY Muni | New | 0.21% | +0.21 |
| BFK BlackRock Municipal Inc. TRST | Add +19.3% | 1.27% | +0.18 |
| XMVTX BlackRock Munivest Fund II | New | 0.14% | +0.14 |
| XBNYX BlackRock New York Muni Inc. | Add +34.8% | 0.43% | +0.10 |
| XMQTX BlackRock Muniyield QLTY II | Add +3.5% | 2.00% | +0.04 |
| MHD BlackRock Muniholdings Fund | Add +3.1% | 4.53% | +0.03 |
| EIM Eaton Vance Municipal Bond | Add +12.8% | 0.60% | +0.03 |
| VMO Invesco Municipal Opport | Add +1.1% | 0.38% | −0.02 |
Notes & Other Activity Q4 2024 → Q1 2025
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Add +0.0% | 56,019,000 | $79.2M |
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Reduce -0.4% | 33,232,000 | $77.4M |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Reduce -0.4% | 58,749,000 | $70.2M |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | Add +1.0% | 64,710,000 | $66.9M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Reduce -0.1% | 60,916,000 | $64.5M |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | Reduce -14.0% | 58,959,000 | $57.6M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Reduce -0.6% | 43,853,000 | $56.2M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Reduce -0.5% | 41,012,000 | $54.7M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Reduce -0.7% | 728,825 | $53.6M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +14.1% | 43,373,000 | $53.0M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Reduce -11.0% | 54,930,000 | $51.8M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Reduce -0.3% | 1,212,815 | $49.6M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Reduce -0.5% | 56,011,000 | $48.4M |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | Reduce -12.0% | 34,785,000 | $48.4M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -17.9% | 48,041,000 | $47.1M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Add +13.7% | 45,624,000 | $46.8M |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | Reduce -0.3% | 27,958,000 | $45.5M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Add +16.4% | 44,185,000 | $43.2M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Reduce -0.7% | 34,813,000 | $42.4M |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | Reduce -29.5% | 29,561,000 | $41.4M |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | Sold out | 25,398,000 | $39.4Mbefore exit |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | New | 37,498,000 | $37.7M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -0.0% | 29,951 | $37.1M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Reduce -0.8% | 622,080 | $36.9M |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Add +0.4% | 37,718,000 | $36.3M |
| PERMIAN RESOURC OPTG LLC (PR 3.25 04/01/28) | NOTE 3.250% 4/0 · principal | Reduce -2.5% | 14,774,000 | $36.0M |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Reduce -0.2% | 32,356,000 | $34.2M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Reduce -46.0% | 33,931,000 | $33.9M |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Reduce -0.9% | 24,294,000 | $32.2M |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | Reduce -38.1% | 33,812,000 | $31.8M |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | Sold out | 33,454,000 | $31.3Mbefore exit |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Add +97.8% | 611,725 | $29.3M |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Add +1.5% | 30,445,000 | $28.2M |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Reduce -49.3% | 11,323,000 | $27.9M |
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | Reduce -43.5% | 7,890,000 | $27.1M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | New | 27,430,000 | $26.0M |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | Reduce -1.2% | 25,957,000 | $25.7M |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | New | 508,650 | $25.5M |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | Reduce -1.2% | 26,562,000 | $25.5M |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | New | 32,707,000 | $25.2M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Add +29.3% | 19,411,000 | $25.0M |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | Sold out | 24,415,000 | $24.3Mbefore exit |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | Reduce -45.6% | 25,450,000 | $24.1M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Reduce -41.3% | 23,717,000 | $23.1M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Reduce -0.5% | 481,629 | $23.1M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | New | 22,421,000 | $22.5M |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | Reduce -0.6% | 402,965 | $22.3M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | New | 20,979,000 | $22.1M |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | Add +7.4% | 24,488,000 | $22.1M |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | Reduce -42.8% | 23,215,000 | $20.7M |
Showing the first 50 of 79.
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $252.3M | BTT, NINE, IAU, MYN, MHD |
| Q1 2026 | 27 | $267.2M | BTT, IAU, NINE, MYN, MHD |
| Q4 2025 | 39 | $319.0M | IAU, TALO, BTT, MHD, GPOR |
| Q3 2025 | 45 | $399.6M | IAU, BTT, TALO, MHD, GPOR |
| Q2 2025 | 49 | $482.1M | XNEAX, NZF, IAU, BTT, NVG |
| Q1 2025 | 49 | $513.6M | XNEAX, IAU, NZF, BTT, TALO |
| Q4 2024 | 49 | $498.8M | XNEAX, NZF, IAU, TALO, NVG |
| Q3 2024 | 48 | $581.2M | XNEAX, IAU, DHR, NZF, NVG |
| Q2 2024 | 48 | $564.9M | XNEAX, GPOR, IAU, TALO, DHR |
| Q1 2024 | 43 | $556.8M | GPOR, TALO, IAU, DHR, BTT |