MacKay Shields LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 27, 2026), MacKay Shields LLC reported 27 stock positions worth $267.2 million. Its top holding was BlackRock 2030 Muni TRGT TRM (BTT) at 13.3% of the portfolio, followed by iShares Gold Trust (IAU, 12.9%) and Nine Energy Service (NINE, 9.4%). Compared with Q4 2025, it opened 2 new positions, sold out of 13, added to 4 and reduced 17. The biggest buy was a new position in Nine Energy Service (NINE) and the biggest sale an exit from BlackRock Muniholding NY QLT (MHN).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0000061227
- Portfolio Value
- $267.2M (Q1 2026)
- SEC Filing
- 0001085146-26-000371 ↗ filed Apr 27, 2026
Holdings Value
Holdings 27 stocks · $267.2M
| BTT BlackRock 2030 Muni TRGT TRM | 13.31% | 1,566,262 | $35.6M | Add +14.8% |
| IAU iShares Gold Trust | 12.87% | 390,150 | $34.4M | Reduce -17.9% |
| NINE Nine Energy Service Inc. | 9.41% | 3,066,434 | $25.1M | New |
| MYN BlackRock Muniyield NY QLTY | 8.44% | 2,349,687 | $22.6M | Add +100.1% |
| MHD BlackRock Muniholdings Fund | 8.37% | 1,982,355 | $22.4M | Reduce -8.5% |
| TALO Talos Energy Inc. | 7.84% | 1,329,097 | $20.9M | Reduce -55.8% |
| GPOR Gulfport Energy Corp. | 7.81% | 98,592 | $20.9M | Reduce -9.2% |
| MQY BlackRock Muniyield Quality | 6.55% | 1,594,019 | $17.5M | Add +26.8% |
| MUJ BlackRock Munihold NJ QLTY | 4.97% | 1,147,932 | $13.3M | Reduce -6.9% |
| MIY BlackRock Muniyield Mi QLTY | 2.93% | 658,969 | $7.8M | Reduce -0.9% |
| GLD SPDR Gold Shares | 2.47% | 15,336 | $6.6M | No change |
| NBH Neuberger Municipal Fund Inc. | 2.37% | 623,277 | $6.3M | Reduce -49.5% |
| WBD Warner Bros Discovery Inc. | 2.33% | 226,250 | $6.2M | No change |
| MYI BlackRock Muniyield QLTY III | 2.07% | 526,256 | $5.5M | New |
| NRK Nuveen NY Amt-FR Muni Inc. | 1.99% | 519,880 | $5.3M | Reduce -18.9% |
| VFL Abrdn National Municipal Inc. | 1.50% | 401,695 | $4.0M | No change |
| VGM Invesco Trust for Investmen | 0.77% | 209,167 | $2.1M | Reduce -32.2% |
| VKQ Invesco Municipal Trust | 0.74% | 208,814 | $2.0M | Reduce -35.8% |
| MFM Aberdeen Municipal Income | 0.67% | 333,155 | $1.8M | Reduce -1.9% |
| MUC BlackRock Munihold Ca QLTY | 0.57% | 146,840 | $1.5M | Reduce -85.0% |
| XNQPX Nuveen Pa QLTY Muni Inc. | 0.53% | 117,934 | $1.4M | Reduce -48.5% |
| EIM Eaton Vance Municipal Bond | 0.46% | 125,764 | $1.2M | Reduce -60.5% |
| VMO Invesco Municipal Opport | 0.45% | 126,255 | $1.2M | Reduce -38.5% |
| NZF Nuveen Municipal Credit Inc. | 0.25% | 55,659 | $678K | Reduce -82.8% |
| VKI Invesco Adv Muni Inc. TR II | 0.15% | 45,320 | $392K | Reduce -57.1% |
| SECR Nylim Mackay Securitized Inc. filed as NEW YORK LIFE INVTS ACTIVE E | 0.11% | 11,504 | $295K | Add +3.3% |
| WW WW International Inc.-New filed as WW INTL INC | 0.07% | 14,371 | $197K | No change |
Other holdings (84): bonds, preferreds, convertibles and warrants · $2.5B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 26,786,000 | $143.6M | Reduce -10.8% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 15,476,000 | $110.8M | Reduce -18.0% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 39,644,000 | $95.4M | Reduce -11.2% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 23,054,000 | $69.0M | Reduce -9.7% |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 1,170,361 | $65.3M | Reduce -0.1% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 50,898,000 | $61.2M | Reduce -10.3% |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 36,510,000 | $60.4M | Reduce -0.1% |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 77,359,000 | $58.4M | Add +11.5% |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 54,518,000 | $57.2M | Reduce -8.6% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 45,352,000 | $54.6M | Add +6.3% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 829,414 | $53.9M | Reduce -0.1% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 39,171,000 | $50.6M | Reduce -0.5% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 46,384,000 | $48.1M | Reduce -9.8% |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 40,228,000 | $43.6M | Reduce -18.8% |
| INTEGER HOLDINGS CORP (ITGR 1.875 03/15/30) | DBCV 1.875% 3/1 · principal | 45,159,000 | $43.3M | New |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 713,809 | $42.0M | Reduce -0.1% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 33,972,000 | $39.3M | Reduce -0.2% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 33,819,000 | $39.2M | Reduce -0.1% |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 601,856 | $39.0M | Add +0.7% |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 32,570,000 | $38.5M | Add +9.1% |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 38,891,000 | $38.0M | No change |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 33,315,000 | $37.4M | Add +16.2% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 33,296,000 | $36.6M | Add +10.9% |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 31,791,000 | $36.6M | Add +48.9% |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | 32,631,000 | $35.8M | Reduce -0.2% |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 23,749,000 | $35.1M | Reduce -0.1% |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | 601,047 | $34.3M | Reduce -0.1% |
| BURLINGTON STORES INC (BURL 1.25 12/15/27) | NOTE 1.250%12/1 · principal | 20,379,000 | $33.7M | No change |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 19,136,000 | $33.2M | Reduce -9.5% |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 33,802,000 | $32.8M | No change |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 26,312,000 | $32.5M | Add +0.1% |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | 29,737,000 | $32.1M | Add +0.2% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 32,736,000 | $32.0M | Reduce -11.6% |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | 6,638,000 | $31.5M | Reduce -50.1% |
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | 646,846 | $29.7M | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 29,970,000 | $27.6M | Reduce -18.8% |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 28,125,000 | $27.2M | Reduce -22.7% |
| UNITY SOFTWARE INC (U 0 03/15/30) | NOTE 3/1 · principal | 26,902,000 | $26.8M | New |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 29,645,000 | $26.8M | Add +0.1% |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 472,936 | $26.7M | Add +2.1% |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | 19,417,000 | $26.0M | New |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 26,133,000 | $25.8M | No change |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 26,502,000 | $25.6M | Reduce -23.5% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 28,693,000 | $25.6M | Add +0.2% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 24,458,000 | $25.5M | Reduce -17.3% |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | 27,150,000 | $25.5M | Add +11.9% |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 25,147,000 | $25.1M | No change |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 20,867 | $24.9M | Reduce -0.3% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 24,323,000 | $23.1M | No change |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 19,032,000 | $22.0M | No change |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 18,587,000 | $19.9M | Add +0.0% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 14,844,000 | $19.1M | Add +0.0% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 19,532,000 | $18.4M | Reduce -50.5% |
| UPSTART HOLDINGS INC (UPST 1 11/15/30) | NOTE 1.000%11/1 · principal | 25,168,000 | $17.9M | No change |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 480,034 | $17.8M | Add +1.5% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 14,760 | $17.1M | Reduce -0.1% |
| SYNAPTICS INC (SYNA 0.75 12/01/31) | NOTE 0.750%12/0 · principal | 16,169,000 | $16.8M | No change |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 13,087,000 | $15.9M | No change |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 16,850,000 | $15.8M | No change |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 10,410,000 | $15.7M | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 2,200,000 | $15.6M | Reduce -54.1% |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 15,388,000 | $15.2M | Reduce -0.4% |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 14,287,000 | $13.8M | Add +0.5% |
| BILL HOLDINGS INC (BILL 0 04/01/30) | NOTE 4/0 · principal | 15,102,000 | $13.5M | No change |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 13,281,000 | $13.2M | Reduce -48.0% |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | 13,220,000 | $13.0M | Add +29.5% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 12,879,000 | $11.4M | Reduce -26.9% |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 9,185,000 | $8.0M | Reduce -49.3% |
| SPECTRUM BRANDS INC (SPB 3.375 06/01/29) | NOTE 3.375% 6/0 · principal | 7,857,000 | $7.9M | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 7,505,000 | $7.2M | Reduce -50.6% |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 4,726,000 | $7.2M | Reduce -1.3% |
| OSI SYSTEMS INC (OSIS 2.25 08/01/29) | NOTE 2.250% 8/0 · principal | 4,525,000 | $6.9M | Add +0.1% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 5,680,000 | $6.6M | Reduce -0.6% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 5,266,000 | $6.5M | Reduce -1.3% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 5,640,000 | $6.3M | Add +0.8% |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 5,416,000 | $5.6M | Add +3.4% |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 6,265,000 | $5.5M | Reduce -51.1% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 4,604,000 | $4.7M | Add +1.5% |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 3,845,000 | $4.5M | Add +3.2% |
| ARROWHEAD RESEARCH CORP (ARWR 0 01/15/32) | NOTE 1/1 · principal | 3,000,000 | $3.1M | New |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 635,000 | $598K | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 500,000 | $586K | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 500,000 | $552K | No change |
| CHEGG INC (CHGG 0 09/01/26) | NOTE 9/0 · principal | 45,000 | $43K | No change |
Total filed on the 13F, all lines: $2.7B.
Portfolio Sells Q4 2025 → Q1 2026
| MHN BlackRock Muniholding NY QLT | Sold out | 0.00% | −3.82 |
| MUC BlackRock Munihold Ca QLTY | Reduce -85.0% | 0.57% | −2.69 |
| BFK BlackRock Municipal Inc. TRST | Sold out | 0.00% | −2.62 |
| XMVFX BlackRock Munivest Fund | Sold out | 0.00% | −2.59 |
| TALO Talos Energy Inc. | Reduce -55.8% | 7.84% | −2.55 |
| XMYDX BlackRock Muniyield Fund | Sold out | 0.00% | −2.29 |
| BYM BlackRock Muni Inc. QLTY | Sold out | 0.00% | −1.64 |
| NBH Neuberger Municipal Fund Inc. | Reduce -49.5% | 2.37% | −1.55 |
| BLE BlackRock Muni Inc. TR II | Sold out | 0.00% | −1.19 |
| NZF Nuveen Municipal Credit Inc. | Reduce -82.8% | 0.25% | −1.03 |
| XBNYX BlackRock New York Muni Inc. | Sold out | 0.00% | −0.69 |
| EIM Eaton Vance Municipal Bond | Reduce -60.5% | 0.46% | −0.51 |
| CWB SS SPDR BB Conv Sec ETF | Sold out | 0.00% | −0.38 |
| XNQPX Nuveen Pa QLTY Muni Inc. | Reduce -48.5% | 0.53% | −0.33 |
| XBKNX BlackRock Invest QLTY Muni | Sold out | 0.00% | −0.32 |
| KTF DWS Municipal Income Trust | Sold out | 0.00% | −0.26 |
| VKQ Invesco Municipal Trust | Reduce -35.8% | 0.74% | −0.24 |
| TPB Turning Point Brands Inc. | Sold out | 0.00% | −0.23 |
| VGM Invesco Trust for Investmen | Reduce -32.2% | 0.77% | −0.23 |
| XMVTX BlackRock Munivest Fund II | Sold out | 0.00% | −0.22 |
| VMO Invesco Municipal Opport | Reduce -38.5% | 0.45% | −0.17 |
| VKI Invesco Adv Muni Inc. TR II | Reduce -57.1% | 0.15% | −0.16 |
| VPV Invesco Pa Val Muni Inc. | Sold out | 0.00% | −0.05 |
| NRK Nuveen NY Amt-FR Muni Inc. | Reduce -18.9% | 1.99% | −0.04 |
| MFM Aberdeen Municipal Income | Reduce -1.9% | 0.67% | +0.09 |
| MUJ BlackRock Munihold NJ QLTY | Reduce -6.9% | 4.97% | +0.37 |
| MHD BlackRock Muniholdings Fund | Reduce -8.5% | 8.37% | +0.40 |
| MIY BlackRock Muniyield Mi QLTY | Reduce -0.9% | 2.93% | +0.48 |
| GPOR Gulfport Energy Corp. | Reduce -9.2% | 7.81% | +0.73 |
| IAU iShares Gold Trust | Reduce -17.9% | 12.87% | +0.79 |
Portfolio Buys Q4 2025 → Q1 2026
| NINE Nine Energy Service Inc. | New | 9.41% | +9.41 |
| MYN BlackRock Muniyield NY QLTY | Add +100.1% | 8.44% | +4.80 |
| BTT BlackRock 2030 Muni TRGT TRM | Add +14.8% | 13.31% | +3.55 |
| MQY BlackRock Muniyield Quality | Add +26.8% | 6.55% | +2.11 |
| MYI BlackRock Muniyield QLTY III | New | 2.07% | +2.07 |
| SECR Nylim Mackay Securitized Inc. | Add +3.3% | 0.11% | +0.02 |
Notes & Other Activity Q4 2025 → Q1 2026
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Reduce -10.8% | 26,786,000 | $143.6M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -18.0% | 15,476,000 | $110.8M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Reduce -11.2% | 39,644,000 | $95.4M |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | Reduce -9.7% | 23,054,000 | $69.0M |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | Reduce -0.1% | 1,170,361 | $65.3M |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | Reduce -10.3% | 50,898,000 | $61.2M |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Reduce -0.1% | 36,510,000 | $60.4M |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | Add +11.5% | 77,359,000 | $58.4M |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | Reduce -8.6% | 54,518,000 | $57.2M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +6.3% | 45,352,000 | $54.6M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Reduce -0.1% | 829,414 | $53.9M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Reduce -0.5% | 39,171,000 | $50.6M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Reduce -9.8% | 46,384,000 | $48.1M |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | Reduce -18.8% | 40,228,000 | $43.6M |
| INTEGER HOLDINGS CORP (ITGR 1.875 03/15/30) | DBCV 1.875% 3/1 · principal | New | 45,159,000 | $43.3M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Reduce -0.1% | 713,809 | $42.0M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Reduce -0.2% | 33,972,000 | $39.3M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Reduce -0.1% | 33,819,000 | $39.2M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Add +0.7% | 601,856 | $39.0M |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | Add +9.1% | 32,570,000 | $38.5M |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | Add +16.2% | 33,315,000 | $37.4M |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Add +10.9% | 33,296,000 | $36.6M |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | Add +48.9% | 31,791,000 | $36.6M |
| IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29) | NOTE 1.500% 9/0 · principal | Reduce -0.2% | 32,631,000 | $35.8M |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | Reduce -0.1% | 23,749,000 | $35.1M |
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | Reduce -0.1% | 601,047 | $34.3M |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | Reduce -9.5% | 19,136,000 | $33.2M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Add +0.1% | 26,312,000 | $32.5M |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | Add +0.2% | 29,737,000 | $32.1M |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Reduce -11.6% | 32,736,000 | $32.0M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Reduce -50.1% | 6,638,000 | $31.5M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 30,093,000 | $31.3Mbefore exit |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 30,319,000 | $30.7Mbefore exit |
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | New | 646,846 | $29.7M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Reduce -18.8% | 29,970,000 | $27.6M |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | Reduce -22.7% | 28,125,000 | $27.2M |
| UNITY SOFTWARE INC (U 0 03/15/30) | NOTE 3/1 · principal | New | 26,902,000 | $26.8M |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | Add +0.1% | 29,645,000 | $26.8M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Add +2.1% | 472,936 | $26.7M |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | New | 19,417,000 | $26.0M |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | Reduce -23.5% | 26,502,000 | $25.6M |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | Add +0.2% | 28,693,000 | $25.6M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Reduce -17.3% | 24,458,000 | $25.5M |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | Add +11.9% | 27,150,000 | $25.5M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -0.3% | 20,867 | $24.9M |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Sold out | 24,975,000 | $24.7Mbefore exit |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Add +0.0% | 18,587,000 | $19.9M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Add +0.0% | 14,844,000 | $19.1M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | Reduce -50.5% | 19,532,000 | $18.4M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Add +1.5% | 480,034 | $17.8M |
Showing the first 50 of 80.
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 |