MacKay Shields LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 24, 2025), MacKay Shields LLC reported 49 stock positions worth $482.1 million. Its top holding was Nuveen Amt-FR QLTY Muni (XNEAX) at 9.1% of the portfolio, followed by Nuveen Municipal Credit (NZF, 7.4%) and iShares Gold Trust (IAU, 7.2%). Compared with Q1 2025, it opened 1 new position, sold out of 1, added to 9 and reduced 17. The biggest buy was Neuberger Municipal Fund (NBH, shares +25%) and the biggest sale an exit from Danaher (DHR).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0000061227
- Portfolio Value
- $482.1M (Q2 2025)
- SEC Filing
- 0001085146-25-004142 ↗ filed Jul 24, 2025
Holdings Value
Holdings 49 stocks · $482.1M
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 9.07% | 4,002,639 | $43.7M | No change |
| NZF Nuveen Municipal Credit Inc. | 7.35% | 2,972,732 | $35.4M | Reduce -0.2% |
| IAU iShares Gold Trust | 7.18% | 555,000 | $34.6M | Reduce -15.9% |
| BTT BlackRock 2030 Muni TRGT TRM | 7.10% | 1,563,907 | $34.2M | No change |
| NVG Nuveen Amt-FR Muni CRDT | 5.97% | 2,411,254 | $28.8M | Reduce -0.5% |
| TALO Talos Energy Inc. | 5.51% | 3,132,176 | $26.6M | No change |
| NAD Nuveen Quality Municipal Inc. | 5.22% | 2,227,951 | $25.2M | Reduce -0.1% |
| NAC Nuveen Ca QLTY Muni Inc. | 4.98% | 2,150,869 | $24.0M | Reduce -1.6% |
| MHD BlackRock Muniholdings Fund | 4.94% | 2,126,547 | $23.8M | Add +7.4% |
| FET Forum Energy Technologies Inc. | 3.27% | 809,235 | $15.8M | Reduce -7.6% |
| MUJ BlackRock Munihold NJ QLTY | 2.84% | 1,251,050 | $13.7M | No change |
| MHN BlackRock Muniholding NY QLT | 2.43% | 1,193,269 | $11.7M | Reduce -0.1% |
| NBH Neuberger Municipal Fund Inc. | 2.41% | 1,180,981 | $11.6M | Add +25.4% |
| MYN BlackRock Muniyield NY QLTY | 2.32% | 1,174,171 | $11.2M | Add +2.4% |
| MUC BlackRock Munihold Ca QLTY | 2.11% | 981,667 | $10.2M | No change |
| XMQTX BlackRock Muniyield QLTY II | 2.05% | 1,026,805 | $9.9M | No change |
| XMVFX BlackRock Munivest Fund | 1.80% | 1,320,857 | $8.7M | Reduce -7.0% |
| BFK BlackRock Municipal Inc. TRST | 1.66% | 833,784 | $8.0M | Add +26.6% |
| NRK Nuveen NY Amt-FR Muni Inc. | 1.64% | 797,635 | $7.9M | No change |
| XMYDX BlackRock Muniyield Fund | 1.55% | 744,760 | $7.5M | Add +33.4% |
| MIY BlackRock Muniyield Mi QLTY | 1.52% | 664,819 | $7.3M | No change |
| XMHIX Pioneer Muni High Inc. TR | 1.48% | 777,329 | $7.1M | Reduce -0.5% |
| VOD Vodafone Group PLC-SP ADR | 1.31% | 591,424 | $6.3M | Reduce -22.8% |
| XPMAX Pioneer Municipal High Inc. | 1.27% | 736,710 | $6.1M | Reduce -9.5% |
| BLE BlackRock Muni Inc. TR II | 1.20% | 577,670 | $5.8M | Add +63.2% |
| BYM BlackRock Muni Inc. QLTY | 1.05% | 481,061 | $5.1M | Add +50.8% |
| GLD SPDR Gold Shares | 0.97% | 15,336 | $4.7M | No change |
| MQY BlackRock Muniyield Quality | 0.82% | 357,837 | $4.0M | No change |
| XENWX Eaton Vance New York Municip | 0.81% | 421,971 | $3.9M | Reduce -1.1% |
| VFL Abrdn National Municipal Inc. | 0.80% | 401,695 | $3.9M | No change |
| EIM Eaton Vance Municipal Bond | 0.80% | 400,187 | $3.9M | Add +29.4% |
| VGM Invesco Trust for Investmen | 0.73% | 370,162 | $3.5M | No change |
| VKI Invesco Adv Muni Inc. TR II | 0.70% | 404,961 | $3.4M | No change |
| GPOR Gulfport Energy Corp. | 0.64% | 15,288 | $3.1M | Reduce -73.1% |
| VKQ Invesco Municipal Trust | 0.62% | 325,107 | $3.0M | No change |
| VMO Invesco Municipal Opport | 0.59% | 307,705 | $2.8M | Add +48.1% |
| XNQPX Nuveen Pa QLTY Muni Inc. | 0.54% | 233,310 | $2.6M | No change |
| NBB Nuveen Taxable Municipal Inc. | 0.51% | 156,775 | $2.5M | No change |
| XBNYX BlackRock New York Muni Inc. | 0.44% | 218,559 | $2.1M | No change |
| IQI Invesco Quality Muni Inc. TR | 0.36% | 186,566 | $1.7M | Reduce -0.9% |
| MFM Aberdeen Municipal Income | 0.36% | 333,155 | $1.7M | No change |
| KTF DWS Municipal Income Trust | 0.24% | 130,807 | $1.2M | Reduce -24.8% |
| XBKNX BlackRock Invest QLTY Muni | 0.21% | 92,077 | $1.0M | No change |
| MYI BlackRock Muniyield QLTY III | 0.19% | 88,233 | $926K | New |
| XMVTX BlackRock Munivest Fund II | 0.14% | 65,678 | $678K | No change |
| NAN Nuveen NY QLTY Muni Inc. | 0.13% | 53,530 | $611K | Reduce -24.1% |
| TPB Turning Point Brands Inc. | 0.11% | 6,802 | $515K | No change |
| VPV Invesco Pa Val Muni Inc. | 0.03% | 14,433 | $145K | Reduce -3.8% |
| NINEQ Nine Energy Service Inc. | 0.02% | 120,184 | $93K | No change |
Other holdings (96): bonds, preferreds, convertibles and warrants · $2.6B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 64,507,000 | $72.8M | Reduce -0.3% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 55,828,000 | $71.0M | Reduce -0.3% |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 58,538,000 | $67.0M | Reduce -0.4% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 43,173,000 | $61.8M | Reduce -0.5% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 60,652,000 | $60.3M | Reduce -0.4% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 845,723 | $57.7M | Add +36.0% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 40,832,000 | $57.6M | Reduce -0.4% |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 58,184,000 | $57.6M | Reduce -1.3% |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 918,702 | $56.6M | New |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 725,064 | $54.6M | Reduce -0.5% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 45,386,000 | $54.6M | Reduce -0.5% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 30,140,000 | $54.3M | No change |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 34,578,000 | $54.0M | Reduce -0.6% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 45,179,000 | $53.6M | New |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 43,628,000 | $49.8M | Reduce -0.5% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 27,886,000 | $49.5M | Reduce -0.3% |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 63,030,000 | $48.2M | Add +17.4% |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 1,204,627 | $48.0M | Reduce -0.7% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 34,606,000 | $46.1M | Reduce -0.6% |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 29,354,000 | $43.6M | Reduce -0.7% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 40,000,000 | $43.0M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 43,963,000 | $42.7M | Reduce -0.5% |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 44,297,000 | $41.8M | Reduce -19.4% |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | 612,603 | $40.9M | Add +20.4% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 30,856,000 | $39.7M | Add +65.4% |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 39,299,000 | $38.7M | Reduce -13.0% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 31,006,000 | $38.3M | No change |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 37,307,000 | $36.9M | New |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 37,601,000 | $36.4M | Reduce -0.3% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 37,250,000 | $36.2M | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 608,240 | $35.9M | Reduce -0.6% |
| PERMIAN RESOURC OPTG LLC (PR 3.25 04/01/28) | NOTE 3.250% 4/0 · principal | 14,774,000 | $35.8M | No change |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 26,904,000 | $35.3M | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 37,468,000 | $35.3M | New |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 19,408,000 | $34.9M | Reduce -0.0% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 29,034,000 | $33.7M | Add +38.4% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 32,180,000 | $33.7M | Reduce -0.5% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 30,445,000 | $31.6M | No change |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 29,835,000 | $31.1M | No change |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 25,829,000 | $30.8M | Add +233.1% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 30,950,000 | $30.6M | Reduce -35.6% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 27,793,000 | $29.3M | Reduce -9.7% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 26,439,000 | $28.2M | Add +17.9% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 28,922,000 | $27.1M | Add +18.1% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 26,453,000 | $26.8M | No change |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | 20,561,000 | $26.6M | No change |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 479,590 | $26.1M | Reduce -0.4% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 24,613,000 | $25.1M | No change |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 27,430,000 | $24.6M | No change |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 25,848,000 | $24.5M | Reduce -23.6% |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 400,972 | $24.4M | Reduce -0.5% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 25,275,000 | $24.0M | Reduce -1.8% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 18,140 | $22.1M | Reduce -39.4% |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 18,323,000 | $22.0M | New |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 32,707,000 | $22.0M | No change |
| OIL STATES INTL INC (OIS 4.75 04/01/26) | NOTE 4.750% 4/0 · principal | 21,321,000 | $21.3M | Reduce -31.9% |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 20,582,000 | $21.1M | Reduce -20.7% |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 21,488,000 | $20.8M | Reduce -19.1% |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 19,205,000 | $20.5M | No change |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 15,268,000 | $19.9M | Reduce -0.5% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 18,845,000 | $19.2M | Reduce -0.4% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 15,779 | $18.6M | Reduce -43.9% |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 19,555,000 | $18.5M | Reduce -23.2% |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 20,125,000 | $17.4M | Reduce -13.3% |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 17,070,000 | $15.9M | No change |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | 16,540,000 | $15.1M | New |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 15,539,000 | $14.4M | No change |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 9,060,000 | $13.9M | New |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 14,908,000 | $13.9M | No change |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 13,787,000 | $13.7M | No change |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 13,391,000 | $13.0M | No change |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | 9,965,000 | $12.4M | No change |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | 12,965,000 | $11.5M | No change |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 12,970,000 | $11.4M | No change |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 6,117,000 | $9.8M | Reduce -39.5% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 8,106,000 | $8.1M | No change |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 5,060,000 | $7.8M | Reduce -3.8% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 6,027,000 | $7.1M | Reduce -83.9% |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 4,945,000 | $6.2M | Reduce -3.6% |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 4,110,000 | $6.2M | Reduce -4.3% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 6,177,000 | $6.0M | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 5,091,000 | $6.0M | Reduce -3.8% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 5,911,000 | $5.8M | Reduce -3.5% |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 5,959,000 | $5.8M | Reduce -3.7% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 5,111,000 | $4.8M | Reduce -3.8% |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | 4,046,000 | $4.5M | Reduce -4.1% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 4,176,000 | $3.8M | Reduce -3.9% |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | 3,166,000 | $3.1M | Reduce -62.0% |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 2,905,000 | $2.9M | Reduce -3.4% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 2,315,000 | $2.3M | Reduce -68.3% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 1,000,000 | $1.1M | New |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 650,000 | $720K | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 500,000 | $541K | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 500,000 | $530K | No change |
| BILL HOLDINGS INC (BILL 0 12/01/25) | NOTE 12/0 · principal | 75,000 | $73K | No change |
| CHEGG INC (CHGG 0 09/01/26) | NOTE 9/0 · principal | 45,000 | $35K | No change |
Total filed on the 13F, all lines: $3.1B.
Portfolio Sells Q1 2025 → Q2 2025
| DHR Danaher Corp. | Sold out | 0.00% | −3.06 |
| GPOR Gulfport Energy Corp. | Reduce -73.1% | 0.64% | −1.40 |
| IAU iShares Gold Trust | Reduce -15.9% | 7.18% | −0.40 |
| FET Forum Energy Technologies Inc. | Reduce -7.6% | 3.27% | −0.16 |
| XMVFX BlackRock Munivest Fund | Reduce -7.0% | 1.80% | −0.14 |
| VOD Vodafone Group PLC-SP ADR | Reduce -22.8% | 1.31% | −0.09 |
| KTF DWS Municipal Income Trust | Reduce -24.8% | 0.24% | −0.08 |
| XPMAX Pioneer Municipal High Inc. | Reduce -9.5% | 1.27% | −0.06 |
| NAN Nuveen NY QLTY Muni Inc. | Reduce -24.1% | 0.13% | −0.03 |
| VPV Invesco Pa Val Muni Inc. | Reduce -3.8% | 0.03% | +0.00 |
| IQI Invesco Quality Muni Inc. TR | Reduce -0.9% | 0.36% | +0.01 |
| XENWX Eaton Vance New York Municip | Reduce -1.1% | 0.81% | +0.03 |
| MHN BlackRock Muniholding NY QLT | Reduce -0.1% | 2.43% | +0.07 |
| XMHIX Pioneer Muni High Inc. TR | Reduce -0.5% | 1.48% | +0.08 |
| NVG Nuveen Amt-FR Muni CRDT | Reduce -0.5% | 5.97% | +0.12 |
| NAC Nuveen Ca QLTY Muni Inc. | Reduce -1.6% | 4.98% | +0.20 |
| NAD Nuveen Quality Municipal Inc. | Reduce -0.1% | 5.22% | +0.22 |
| NZF Nuveen Municipal Credit Inc. | Reduce -0.2% | 7.35% | +0.26 |
Portfolio Buys Q1 2025 → Q2 2025
| NBH Neuberger Municipal Fund Inc. | Add +25.4% | 2.41% | +0.50 |
| BLE BlackRock Muni Inc. TR II | Add +63.2% | 1.20% | +0.49 |
| MHD BlackRock Muniholdings Fund | Add +7.4% | 4.94% | +0.42 |
| XMYDX BlackRock Muniyield Fund | Add +33.4% | 1.55% | +0.40 |
| BFK BlackRock Municipal Inc. TRST | Add +26.6% | 1.66% | +0.39 |
| BYM BlackRock Muni Inc. QLTY | Add +50.8% | 1.05% | +0.38 |
| EIM Eaton Vance Municipal Bond | Add +29.4% | 0.80% | +0.20 |
| VMO Invesco Municipal Opport | Add +48.1% | 0.59% | +0.20 |
| MYI BlackRock Muniyield QLTY III | New | 0.19% | +0.19 |
| MYN BlackRock Muniyield NY QLTY | Add +2.4% | 2.32% | +0.10 |
Notes & Other Activity Q1 2025 → Q2 2025
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Sold out | 33,232,000 | $77.4Mbefore exit |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | Reduce -0.3% | 64,507,000 | $72.8M |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Reduce -0.3% | 55,828,000 | $71.0M |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Reduce -0.4% | 58,538,000 | $67.0M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Reduce -0.5% | 43,173,000 | $61.8M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Reduce -0.4% | 60,652,000 | $60.3M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +36.0% | 845,723 | $57.7M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Reduce -0.4% | 40,832,000 | $57.6M |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | Reduce -1.3% | 58,184,000 | $57.6M |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | New | 918,702 | $56.6M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Reduce -0.5% | 725,064 | $54.6M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Reduce -0.5% | 45,386,000 | $54.6M |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | Reduce -0.6% | 34,578,000 | $54.0M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | New | 45,179,000 | $53.6M |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Reduce -0.5% | 43,628,000 | $49.8M |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | Reduce -0.3% | 27,886,000 | $49.5M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Sold out | 56,011,000 | $48.4Mbefore exit |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | Add +17.4% | 63,030,000 | $48.2M |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Reduce -0.7% | 1,204,627 | $48.0M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Reduce -0.6% | 34,606,000 | $46.1M |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | Reduce -0.7% | 29,354,000 | $43.6M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Reduce -0.5% | 43,963,000 | $42.7M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Reduce -19.4% | 44,297,000 | $41.8M |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | Add +20.4% | 612,603 | $40.9M |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | Add +65.4% | 30,856,000 | $39.7M |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Reduce -13.0% | 39,299,000 | $38.7M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | New | 37,307,000 | $36.9M |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Reduce -0.3% | 37,601,000 | $36.4M |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | New | 37,250,000 | $36.2M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Reduce -0.6% | 608,240 | $35.9M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | New | 26,904,000 | $35.3M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | New | 37,468,000 | $35.3M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -0.0% | 19,408,000 | $34.9M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 33,931,000 | $33.9Mbefore exit |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | Add +38.4% | 29,034,000 | $33.7M |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Reduce -0.5% | 32,180,000 | $33.7M |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | Sold out | 24,294,000 | $32.2Mbefore exit |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | Add +233.1% | 25,829,000 | $30.8M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -35.6% | 30,950,000 | $30.6M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Reduce -9.7% | 27,793,000 | $29.3M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Add +17.9% | 26,439,000 | $28.2M |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Sold out | 11,323,000 | $27.9Mbefore exit |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | Add +18.1% | 28,922,000 | $27.1M |
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | Sold out | 7,890,000 | $27.1Mbefore exit |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Reduce -0.4% | 479,590 | $26.1M |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | Reduce -23.6% | 25,848,000 | $24.5M |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | Reduce -0.5% | 400,972 | $24.4M |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Reduce -1.8% | 25,275,000 | $24.0M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Sold out | 23,717,000 | $23.1Mbefore exit |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -39.4% | 18,140 | $22.1M |
Showing the first 50 of 78.
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 |