MACKAY SHIELDS LLC

Long Only Manager

MACKAY SHIELDS LLC is a Long Only Manager based in New York, NY led by Alison Hiers Micucci, reporting $151.64B in AUM as of Q3 2025 with 77% Unknown concentration and 58% concentrated in top 10 holdings.

CEOAlison Hiers Micucci

Portfolio Value: $435.7M
Positions: 47
Top Holding: IAU at 8.77%
Last Reported: Q3 2025

Address299 Park Avenue, 32nd Floor, New York, NY, 10171, United States

Top Holdings

Largest long holdings in MACKAY SHIELDS LLC's portfolio (57.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 IAU iShares Gold Trust IAU	Unknown Unknown	$38.2M	8.77%	-$2.2M Sold	— 525.0K shares	Q4 2022 Held for 2y 11m
2 Microchip Technology Incorporated Depositary Shares Each Representing a 1/20th Interest in a Share of 7.50% Series A Mandatory Convertible Preferred Stock MCHPP	Semiconductors Technology	$36.0M	8.27%	-$203.5K Sold	0.11% 609.2K shares	Q1 2025 Held for 8 months
3 BTT BlackRock Municipal 2030 Target Term Trust BTT	Unknown Unknown	$31.9M	7.32%	-$3.2M Sold	— 1.4M shares	Q4 2022 Held for 2y 11m
4 Talos Energy TALO	Oil & Gas Exploration & Production Energy	$29.7M	6.82%	-$323.6K Sold	1.77% 3.1M shares	Q2 2018 Held for 7y 5m
5 Blackrock Muniholdings Fund MHD	Unknown Unknown	$25.5M	5.84%	+$466.7K Bought	— 2.2M shares	Q4 2022 Held for 2y 11m
6 Gulfport Energy GPOR	Oil & Gas Exploration & Production Energy	$23.7M	5.44%	+$20.9M Bought	0.75% 131.0K shares	Q2 2021 Held for 4y 5m
7 NEA Nuveen AMT-Free Quality Municipal Income Fund NEA	Unknown Unknown	$20.5M	4.71%	-$25.1M Sold	— 1.8M shares	Q4 2022 Held for 2y 11m
8 NZF Nuveen Municipal Credit Income Fund NZF	Unknown Unknown	$17.7M	4.05%	-$19.7M Sold	— 1.4M shares	Q4 2023 Held for 1y 11m
9 NVG Nuveen AMT-Free Municipal Credit Income Fund NVG	Unknown Unknown	$14.3M	3.29%	-$15.3M Sold	— 1.2M shares	Q4 2023 Held for 1y 11m
10 BlackRock Muniholdings New Jersey Quality Fund MUJ	Unknown Unknown	$14.3M	3.28%	-$210.7K Sold	— 1.2M shares	Q4 2022 Held for 2y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in MACKAY SHIELDS LLC's latest filing

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Market Value

$435.7M

Prior: $523.1M

Q/Q Change

-16.7%

-$87.3M

Net Flows % of MV

-26.81%

Turnover Ratio

19.51%

New Purchases

0 stocks

Added To

4 stocks

+$22.5M

Sold Out Of

6 stocks

$33.0M

Reduced Holdings

21 stocks

-$106.3M

Increased Positions

Position	Shares Δ	Change
1 Gulfport Energy GPOR	+756.59%	15.3K → 131.0K +$20.9M
2 MFM MFS Municipal Income Trust MFM	+30.02%	333.2K → 433.2K +$539.0K
3 NBH Neuberger Berman Municipal Fund NBH	+4.45%	1.2M → 1.2M +$542.8K
4 Blackrock Muniholdings Fund MHD	+1.87%	2.1M → 2.2M +$466.7K

Decreased Positions

Position	Shares Δ	Change
1 Forum Energy Technologies FET	Sold	809.2K → 0 −$15.8M
2 MHI Pioneer Municipal High Income Fund MHI	Sold	777.3K → 0 −$7.1M
3 MAV Pioneer Municipal High Income Advantage Fund MAV	Sold	736.7K → 0 −$6.1M
4 NBB Nuveen Taxable Municipal Income Fund NBB	Sold	156.8K → 0 −$2.5M
5 BlackRock Muniyield Quality Fund III MYI	Sold	88.2K → 0 −$925.6K

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Analytics

Portfolio insights and performance metrics for MACKAY SHIELDS LLC

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Sector Allocation

Energy

12.30%

Technology

8.30%

Communication Services

1.80%

Consumer Defensive

0.20%

Consumer Cyclical

0.10%

Market Cap Distribution

Large Cap ($10B - $200B)

10.06%

Mid Cap ($2B - $10B)

5.46%

Small Cap ($300M - $2B)

6.97%

Micro Cap ($50M - $300M)

0.09%

Nano Cap (< $50M)

0.02%

N/A (ETF or Unknown)

77.40%

Portfolio Concentration

Top 10 Holdings %

57.79%

Top 20 Holdings %

81.34%

Top 50 Holdings %

100.0%

Top 100 Holdings %