MacKay Shields LLC
Portfolio value QoQ: +9.4% 13F does not disclose cash
Top 10 holdings weight28.04%
Top 25 holdings weight51.31%
Positions above 1%40
Effective number of positions59.8
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 16.6% Est. buys $474,023,939 · sells $490,404,991
Median holding: 4.0 quarters Tracked Q1 2025–Q2 2026 · 55.7% still held
New positions13
Increased16
Decreased59
Closed8
Portfolio value
$3.0B
Positions
108
As of
June 30, 2026 Data as of Q2 2026
Sector breakdown
Full portfolio 108 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| Unknown issuer (CUSIP: 958102AT2) | $150,816,792 | 5.05% | 8,952,000 | $39,986,479 | Down ×5 | ||
| Unknown issuer (CUSIP: 02079K404) | $122,643,950 | 4.11% | 2,427,303 | Up ×1 | |||
| Unknown issuer (CUSIP: 55306NAB0) | $107,477,663 | 3.60% | 36,470,000 | $47,079,223 | Down ×4 | ||
| Unknown issuer (CUSIP: 55024UAF6) | $84,112,403 | 2.82% | 12,884,000 | $-59,440,796 | Down ×3 | ||
| Unknown issuer (CUSIP: 516544AB9) | $74,003,121 | 2.48% | 50,863,000 | $12,806,723 | Down ×2 | ||
| HPEPRC | $70,210,944 | 2.35% | 601,263 | $31,193,369 | Down ×1 | ||
| Unknown issuer (CUSIP: 12685JAG0) | $58,775,896 | 1.97% | 89,888,000 | $408,530 | Up ×5 | ||
| QXOPRB | $57,413,691 | 1.92% | 1,169,488 | $-7,844,254 | Down ×3 | ||
| BAPRA | $56,171,414 | 1.88% | 828,674 | $2,283,044 | Down ×4 | ||
| Unknown issuer (CUSIP: 88162GAB9) | $55,268,887 | 1.85% | 52,445,000 | $-1,907,144 | Down ×2 | ||
| Unknown issuer (CUSIP: 90353TAM2) | $54,331,944 | 1.82% | 45,364,000 | $-270,861 | Up ×2 | ||
| Unknown issuer (CUSIP: 833445AB5) | $54,155,943 | 1.81% | 32,541,000 | $15,636,807 | Down ×1 | ||
| Unknown issuer (CUSIP: 163086AE1) | $53,041,671 | 1.78% | 23,710,000 | $17,940,775 | Down ×6 | ||
| Unknown issuer (CUSIP: 29786AAJ5) | $50,886,574 | 1.70% | 49,886,000 | $18,884,538 | Up ×1 | ||
| NEEPRS | $50,463,149 | 1.69% | 940,950 | $23,795,579 | Up ×2 | ||
| Unknown issuer (CUSIP: 69331CAL2) | $47,525,062 | 1.59% | 46,453,000 | $-534,434 | Up ×1 | ||
| MCHPP | $46,450,746 | 1.56% | 603,491 | $12,133,627 | Up ×1 | ||
| BTT | $44,771,545 | 1.50% | 1,967,980 | $9,217,398 | Up ×2 | ||
| Unknown issuer (CUSIP: 45826HAD1) | $43,942,264 | 1.47% | 45,243,000 | $657,362 | Up ×1 | ||
| APOPRA | $43,457,785 | 1.46% | 713,153 | $1,485,541 | Down ×6 | ||
| Unknown issuer (CUSIP: 531229AQ5) | $42,050,710 | 1.41% | 33,894,000 | $2,791,018 | Down ×6 | ||
| Unknown issuer (CUSIP: 737446AT1) | $41,655,230 | 1.40% | 40,161,000 | $-1,962,457 | Down ×6 | ||
| Unknown issuer (CUSIP: 589889AB0) | $41,080,767 | 1.38% | 38,073,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 00971TAL5) | $40,843,389 | 1.37% | 34,024,000 | $1,593,715 | Up ×1 | ||
| Unknown issuer (CUSIP: 682189AS4) | $39,963,727 | 1.34% | 21,949,000 | $-10,633,072 | Down ×4 | ||
| Unknown issuer (CUSIP: 65441V200) | $39,180,461 | 1.31% | 3,011,565 | $14,035,703 | Down ×1 | ||
| Unknown issuer (CUSIP: 23804LAD5) | $39,071,712 | 1.31% | 27,438,000 | $6,275,322 | Down ×1 | ||
| Unknown issuer (CUSIP: 76155XAA8) | $38,069,140 | 1.28% | 30,344,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 358039AB1) | $36,956,373 | 1.24% | 31,800,000 | $379,264 | Up ×2 | ||
| Unknown issuer (CUSIP: 10806XAD4) | $36,917,577 | 1.24% | 33,259,000 | $-445,941 | Down ×1 | ||
| Unknown issuer (CUSIP: 450056AB2) | $35,896,303 | 1.20% | 32,598,000 | $143,287 | Down ×2 | ||
| Unknown issuer (CUSIP: 538034BC2) | $35,565,452 | 1.19% | 29,737,000 | $3,449,492 | |||
| Unknown issuer (CUSIP: 70614WAD2) | $34,867,996 | 1.17% | 21,499,000 | $8,862,556 | Up ×1 | ||
| Unknown issuer (CUSIP: 343412AJ1) | $34,699,438 | 1.16% | 26,167,000 | $2,215,450 | Down ×1 | ||
| Unknown issuer (CUSIP: 472145AH4) | $34,657,429 | 1.16% | 20,318,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 665531AJ8) | $31,899,375 | 1.07% | 33,241,000 | $-4,713,493 | Down ×1 | ||
| Unknown issuer (CUSIP: 00827BAD8) | $31,704,730 | 1.06% | 27,113,000 | $6,237,454 | Down ×1 | ||
| Unknown issuer (CUSIP: 23248VAD7) | $31,616,914 | 1.06% | 19,004,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 18915MAF4) | $31,512,824 | 1.06% | 24,872,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 91332UAH4) | $30,459,761 | 1.02% | 26,904,000 | $3,617,890 | Up ×1 | ||
| ORCLPRD | $29,118,755 | 0.98% | 645,801 | $-600,783 | Down ×1 | ||
| Unknown issuer (CUSIP: 59001ABF8) | $28,997,541 | 0.97% | 28,031,000 | $1,801,571 | Down ×4 | ||
| Unknown issuer (CUSIP: 703343AG8) | $28,330,050 | 0.95% | 19,118,000 | $-4,870,573 | Down ×6 | ||
| Unknown issuer (CUSIP: 531229AP7) | $28,083,899 | 0.94% | 24,458,000 | $2,606,580 | |||
| Unknown issuer (CUSIP: 122017AD8) | $27,985,049 | 0.94% | 17,529,000 | $-5,742,196 | Down ×1 | ||
| Unknown issuer (CUSIP: 743312AD2) | $27,466,838 | 0.92% | 28,590,000 | $1,910,624 | Down ×1 | ||
| BACPRL | $26,133,216 | 0.88% | 20,806 | $1,248,380 | Down ×2 | ||
| Unknown issuer (CUSIP: 70202LAD4) | $25,808,512 | 0.86% | 26,167,000 | $28,307 | Up ×1 | ||
| Unknown issuer (CUSIP: 09061GAK7) | $25,738,211 | 0.86% | 26,434,000 | $174,915 | Down ×6 | ||
| IAU | $24,768,790 | 0.83% | 328,020 | $-9,626,834 | Down ×6 | ||
| Unknown issuer (CUSIP: 26210CAD6) | $24,614,876 | 0.82% | 24,323,000 | $1,495,864 | |||
| Unknown issuer (CUSIP: 04280AAC4) | $24,483,945 | 0.82% | 20,457,000 | $21,372,645 | Up ×1 | ||
| Unknown issuer (CUSIP: 25809KAB1) | $24,370,238 | 0.82% | 24,710,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 87157DAJ8) | $24,040,173 | 0.81% | 16,169,000 | $7,276,962 | |||
| Unknown issuer (CUSIP: 40171VAC4) | $23,976,838 | 0.80% | 24,911,000 | $-1,123,012 | Down ×1 | ||
| MYN | $23,849,323 | 0.80% | 2,349,687 | $1,292,328 | |||
| MHD | $23,590,025 | 0.79% | 1,982,355 | $1,229,060 | |||
| Unknown issuer (CUSIP: 76954AAB9) | $22,057,291 | 0.74% | 18,580,000 | $2,119,326 | Down ×1 | ||
| Unknown issuer (CUSIP: 393657AM3) | $21,770,705 | 0.73% | 19,032,000 | $-275,964 | |||
| Unknown issuer (CUSIP: 252131AM9) | $20,922,195 | 0.70% | 22,415,000 | $-6,709,785 | Down ×4 | ||
| Unknown issuer (CUSIP: 91680MAF4) | $20,632,987 | 0.69% | 25,168,000 | $2,703,863 | |||
| MQY | $18,490,621 | 0.62% | 1,594,019 | $988,292 | |||
| Unknown issuer (CUSIP: 82452JAD1) | $18,294,935 | 0.61% | 19,157,000 | $-89,561 | Down ×4 | ||
| ARESPRB | $18,111,249 | 0.61% | 479,735 | $300,667 | Down ×1 | ||
| Unknown issuer (CUSIP: 02043QAB3) | $17,866,207 | 0.60% | 14,834,000 | $-1,186,957 | Down ×1 | ||
| WFCPRL | $17,114,375 | 0.57% | 14,748 | $-12,778 | Down ×5 | ||
| GPOR | $16,547,786 | 0.55% | 97,512 | $-4,311,323 | Down ×3 | ||
| Unknown issuer (CUSIP: 67059NAK4) | $16,339,716 | 0.55% | 16,565,000 | $-10,474,339 | Down ×1 | ||
| Unknown issuer (CUSIP: 98139AAD7) | $15,544,291 | 0.52% | 16,585,000 | $-273,647 | Down ×1 | ||
| Unknown issuer (CUSIP: 781154AD1) | $15,173,388 | 0.51% | 14,825,000 | Up ×1 | |||
| TALO | $15,026,053 | 0.50% | 1,163,908 | $-5,920,516 | Down ×4 | ||
| Unknown issuer (CUSIP: 55303JAB2) | $13,859,418 | 0.46% | 14,243,000 | $95,884 | Down ×1 | ||
| Unknown issuer (CUSIP: 007973AE0) | $13,226,484 | 0.44% | 4,843,000 | $-82,156,694 | Down ×5 | ||
| Unknown issuer (CUSIP: 090043AF7) | $13,083,618 | 0.44% | 15,102,000 | $-383,591 | |||
| Unknown issuer (CUSIP: 02079K602) | $12,597,500 | 0.42% | 250,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 37940XAU6) | $11,591,100 | 0.39% | 12,879,000 | $218,285 | |||
| Unknown issuer (CUSIP: 65339F655) | $10,973,610 | 0.37% | 228,903 | Up ×1 | |||
| MUJ | $10,856,829 | 0.36% | 881,952 | $-2,424,745 | Down ×2 | ||
| WBD | $9,545,880 | 0.32% | 358,060 | $3,333,055 | Up ×1 | ||
| Unknown issuer (CUSIP: 532206AC3) | $9,169,363 | 0.31% | 8,870,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 40131MAB5) | $8,928,130 | 0.30% | 7,179,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 538034BA6) | $8,330,294 | 0.28% | 4,676,000 | $1,151,500 | Down ×6 | ||
| Unknown issuer (CUSIP: 84762LAZ8) | $8,208,208 | 0.27% | 7,857,000 | $346,886 | |||
| Unknown issuer (CUSIP: 92538JAB2) | $8,188,752 | 0.27% | 9,152,000 | $193,209 | Down ×3 | ||
| Unknown issuer (CUSIP: 87918AAF2) | $7,313,623 | 0.25% | 7,505,000 | $116,328 | |||
| Unknown issuer (CUSIP: 18915MAC1) | $7,242,981 | 0.24% | 5,637,000 | $594,201 | Down ×5 | ||
| Unknown issuer (CUSIP: 604749AB7) | $7,199,153 | 0.24% | 1,947,000 | $-61,759,045 | Down ×6 | ||
| Unknown issuer (CUSIP: 92939UAR7) | $6,396,106 | 0.21% | 5,162,000 | $-118,324 | Down ×3 | ||
| Unknown issuer (CUSIP: 842587DZ7) | $6,134,334 | 0.21% | 5,569,000 | $-130,602 | Down ×1 | ||
| Unknown issuer (CUSIP: 40637HAD1) | $6,007,958 | 0.20% | 5,407,000 | $391,976 | Down ×1 | ||
| Unknown issuer (CUSIP: 671044AF2) | $5,979,843 | 0.20% | 4,485,000 | $-950,368 | Down ×1 | ||
| MIY | $5,886,496 | 0.20% | 479,747 | $-1,942,055 | Down ×2 | ||
| GLD | $5,649,476 | 0.19% | 15,336 | $-949,451 | |||
| Unknown issuer (CUSIP: 338307AF8) | $5,475,796 | 0.18% | 6,155,000 | $9,583 | Down ×3 | ||
| Unknown issuer (CUSIP: 67059NAH1) | $5,163,914 | 0.17% | 4,582,000 | $475,201 | Down ×1 | ||
| MYI | $4,877,335 | 0.16% | 439,004 | $-653,616 | Down ×1 | ||
| Unknown issuer (CUSIP: 842587ED5) | $4,870,689 | 0.16% | 4,815,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 45826HAB5) | $4,572,930 | 0.15% | 3,756,000 | $31,760 | Down ×1 | ||
| VFL | $4,165,577 | 0.14% | 401,695 | $164,695 | |||
| Unknown issuer (CUSIP: 462222AF7) | $3,752,378 | 0.13% | 2,414,000 | $-11,953,709 | Down ×1 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| None | $58,775,896 | 1.97% | up ×5 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| Unknown issuer (CUSIP: 02079K404) | $122,643,950 | 2,427,303 | 4.11% |
| Unknown issuer (CUSIP: 589889AB0) | $41,080,767 | 38,073,000 | 1.38% |
| Unknown issuer (CUSIP: 76155XAA8) | $38,069,140 | 30,344,000 | 1.28% |
| Unknown issuer (CUSIP: 472145AH4) | $34,657,429 | 20,318,000 | 1.16% |
| Unknown issuer (CUSIP: 23248VAD7) | $31,616,914 | 19,004,000 | 1.06% |
| Unknown issuer (CUSIP: 18915MAF4) | $31,512,824 | 24,872,000 | 1.06% |
| Unknown issuer (CUSIP: 25809KAB1) | $24,370,238 | 24,710,000 | 0.82% |
| Unknown issuer (CUSIP: 781154AD1) | $15,173,388 | 14,825,000 | 0.51% |
| Unknown issuer (CUSIP: 02079K602) | $12,597,500 | 250,000 | 0.42% |
| Unknown issuer (CUSIP: 65339F655) | $10,973,610 | 228,903 | 0.37% |
| Unknown issuer (CUSIP: 532206AC3) | $9,169,363 | 8,870,000 | 0.31% |
| Unknown issuer (CUSIP: 40131MAB5) | $8,928,130 | 7,179,000 | 0.30% |
| Unknown issuer (CUSIP: 842587ED5) | $4,870,689 | 4,815,000 | 0.16% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| · | Trimmed | -13.9M | -$59.4M |
| · | Trimmed | -40K | +$47.1M |
| · | Trimmed | -6.5M | +$40.0M |
| HPEPRC | Trimmed | -593 | +$31.2M |
| NEEPRS | Bought more | +468K | +$23.8M |
| · | Bought more | +17.1M | +$18.9M |
| · | Trimmed | -39K | +$17.9M |
| · | Trimmed | -29K | +$15.6M |
| · | Trimmed | -55K | +$14.0M |
| · | Trimmed | -35K | +$12.8M |
3 positions hidden — reported move looks larger than the position itself (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| NEEPRR | Sept. 30, 2025 | 1,204,627 | $47,971,386 | No longer tracked |
| GTLSPRB | Sept. 30, 2025 | 400,972 | $24,350,033 | No longer tracked |
| NEA | Dec. 31, 2025 | 1,801,320 | $20,517,035 | -13.2% |
| FET | Sept. 30, 2025 | 809,235 | $15,755,806 | 211.3% |
| DHR | June 30, 2025 | 76,712 | $15,725,960 | 8.4% |
| NVG | Dec. 31, 2025 | 1,165,469 | $14,323,615 | -15.4% |
| NAD | Dec. 31, 2025 | 1,058,093 | $12,369,107 | -14.5% |
| MHN | March 31, 2026 | 1,191,469 | $12,188,728 | No longer tracked |
| MQT | March 31, 2026 | 1,008,573 | $10,136,159 | No longer tracked |
| BFK | March 31, 2026 | 833,784 | $8,362,854 | No longer tracked |
| MVF | March 31, 2026 | 1,192,311 | $8,262,715 | No longer tracked |
| MYD | March 31, 2026 | 697,362 | $7,315,327 | No longer tracked |
| MHI | Sept. 30, 2025 | 777,329 | $7,120,334 | No longer tracked |
| NBH | June 30, 2026 | 623,277 | $6,326,262 | No longer tracked |
| MAV | Sept. 30, 2025 | 736,710 | $6,114,693 | No longer tracked |
| NAC | Dec. 31, 2025 | 511,343 | $5,880,445 | -13.4% |
| NRK | June 30, 2026 | 519,880 | $5,307,974 | -12.7% |
| BYM | March 31, 2026 | 479,613 | $5,246,966 | No longer tracked |
| VOD | Dec. 31, 2025 | 371,152 | $4,305,363 | 27.3% |
| ENX | Dec. 31, 2025 | 421,971 | $4,160,634 | No longer tracked |
| BLE | March 31, 2026 | 363,951 | $3,799,648 | No longer tracked |
| NBB | Sept. 30, 2025 | 156,775 | $2,480,181 | -11.8% |
| BNY | March 31, 2026 | 218,559 | $2,216,188 | |
| VGM | June 30, 2026 | 209,167 | $2,064,479 | -16.0% |
| VKQ | June 30, 2026 | 208,814 | $1,987,909 | -14.3% |
| NQP | June 30, 2026 | 117,934 | $1,406,953 | No longer tracked |
| CWB | March 31, 2026 | 13,633 | $1,216,064 | |
| VMO | June 30, 2026 | 126,255 | $1,200,685 | -13.8% |
| BKN | March 31, 2026 | 92,077 | $1,031,262 | No longer tracked |
| IQI | Dec. 31, 2025 | 94,994 | $935,691 | -10.2% |
| MYI | Sept. 30, 2025 | 88,233 | $925,564 | -11.8% |
| KTF | March 31, 2026 | 92,505 | $840,870 | -11.0% |
| TPB | March 31, 2026 | 6,802 | $737,337 | -35.9% |
| MVT | March 31, 2026 | 65,678 | $709,979 | No longer tracked |
| NZF | June 30, 2026 | 55,659 | $677,927 | -13.6% |
| NAN | Sept. 30, 2025 | 53,530 | $610,777 | -13.5% |
| VKI | June 30, 2026 | 45,320 | $392,471 | No longer tracked |
| VPV | March 31, 2026 | 14,433 | $150,969 | 1.4% |
| NINEQ | Dec. 31, 2025 | 116,342 | $73,517 | No longer tracked |