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MacKay Shields LLC

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13F filer, CIK 61227, New York, NY

MacKay Shields LLC reported $2,857,443,441 across 132 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-01-29. Its ten largest share positions make up 23.65% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000061227-26-000001

Period
2025-12-31
Reported value
$2.86B
Holdings
132
Top 10 weight
23.65%
New
10
Sold out
14

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BANK OF AMER CORPadded+3,343$4.19M
CWBnew+13,633$1.22M
SECRnew+11,136$287K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
XNEAXexited-1,801,320-$20.5M
NVGexited-1,165,469-$14.3M
NZFreduced-1,081,921-$13.6M
NADexited-1,058,093-$12.4M
NACexited-511,343-$5.88M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0000061227-26-000001, largest first. % of portfolio is the value over $2,857,443,441, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
QXO INCQXO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 918,702 shares; 2025Q3: 1,186,085 shares; 2025Q4: 1,171,159 shares 1,171,159$65M2.28%-14,926
BAPRABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 627,351 shares; 2025Q1: 622,080 shares; 2025Q2: 845,723 shares; 2025Q3: 841,981 shares; 2025Q4: 830,097 shares 830,097$57.7M2.02%-11,884Timeline
APOLLO GLOBAL MGMT INCAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 740,081 shares; 2024Q4: 733,576 shares; 2025Q1: 728,825 shares; 2025Q2: 725,064 shares; 2025Q3: 721,847 shares; 2025Q4: 714,292 shares 714,292$53.9M1.89%-7,555
HEWLETT PACKARD ENTERPRISE CHEWLETT PACKARD ENTERPRISE CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 312,979 shares; 2024Q4: 309,251 shares; 2025Q1: 611,725 shares; 2025Q2: 608,240 shares; 2025Q3: 605,178 shares; 2025Q4: 597,863 shares 597,863$39.6M1.39%-7,315
IAUISHARES GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 929,500 shares; 2024Q4: 690,000 shares; 2025Q1: 660,000 shares; 2025Q2: 555,000 shares; 2025Q3: 525,000 shares; 2025Q4: 475,000 shares 475,000$38.6M1.35%-50,000Timeline
MCHPPMICROCHIP TECHNOLOGY INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 508,650 shares; 2025Q2: 612,603 shares; 2025Q3: 609,163 shares; 2025Q4: 601,474 shares 601,474$35.1M1.23%-7,689Timeline
TALOTALOS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,132,176 shares; 2024Q4: 3,132,176 shares; 2025Q1: 3,132,176 shares; 2025Q2: 3,132,176 shares; 2025Q3: 3,098,435 shares; 2025Q4: 3,008,435 shares 3,008,435$33.2M1.16%-90,000Timeline
BTTBLACKROCK MUN TARGET TERM TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,401,701 shares; 2024Q4: 1,401,701 shares; 2025Q1: 1,563,907 shares; 2025Q2: 1,563,907 shares; 2025Q3: 1,419,894 shares; 2025Q4: 1,364,127 shares 1,364,127$31.1M1.09%-55,767Timeline
BANK OF AMER CORPBANK OF AMER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,476 shares; 2024Q4: 29,964 shares; 2025Q1: 29,951 shares; 2025Q2: 18,140 shares; 2025Q3: 17,584 shares; 2025Q4: 20,927 shares 20,927$26.2M0.92%+3,343
MHDBLACKROCK MUNIHOLDINGS FD INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,921,470 shares; 2024Q4: 1,919,567 shares; 2025Q1: 1,979,686 shares; 2025Q2: 2,126,547 shares; 2025Q3: 2,166,270 shares; 2025Q4: 2,166,270 shares 2,166,270$25.4M0.89%0Timeline
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 465,471 shares; 2025Q4: 463,345 shares 463,345$24M0.84%-2,126Timeline
ARES MANAGEMENT CORPORATIONARES MANAGEMENT CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 484,147 shares; 2025Q1: 481,629 shares; 2025Q2: 479,590 shares; 2025Q3: 480,905 shares; 2025Q4: 473,045 shares 473,045$23.9M0.84%-7,860
GPORGULFPORT ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 198,685 shares; 2024Q4: 19,682 shares; 2025Q1: 56,782 shares; 2025Q2: 15,288 shares; 2025Q3: 130,956 shares; 2025Q4: 108,592 shares 108,592$22.6M0.79%-22,364Timeline
WELLS FARGO & COWELLS FARGO & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,400 shares; 2024Q4: 28,119 shares; 2025Q1: 28,119 shares; 2025Q2: 15,779 shares; 2025Q3: 15,404 shares; 2025Q4: 14,770 shares 14,770$18M0.63%-634
MUJBLACKROCK MUNIHLDGS NJ QLTYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,260,319 shares; 2024Q4: 1,251,050 shares; 2025Q1: 1,251,050 shares; 2025Q2: 1,251,050 shares; 2025Q3: 1,232,873 shares; 2025Q4: 1,232,873 shares 1,232,873$14.7M0.51%0Timeline
NBHNEUBERGER MUN FD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 941,392 shares; 2025Q2: 1,180,981 shares; 2025Q3: 1,233,578 shares; 2025Q4: 1,233,578 shares 1,233,578$12.5M0.44%0Timeline
BLACKROCK MUNIHLDGS NY QLTYBLACKROCK MUNIHLDGS NY QLTYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,195,776 shares; 2024Q4: 1,194,054 shares; 2025Q1: 1,194,054 shares; 2025Q2: 1,193,269 shares; 2025Q3: 1,191,469 shares; 2025Q4: 1,191,469 shares 1,191,469$12.2M0.43%0
MYNBLACKROCK MUNIYIELD N Y QUALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 937,524 shares; 2024Q4: 937,524 shares; 2025Q1: 1,146,355 shares; 2025Q2: 1,174,171 shares; 2025Q3: 1,174,171 shares; 2025Q4: 1,174,171 shares 1,174,171$11.6M0.41%0Timeline
MUCBLACKROCK MUNIHLDNGS CALIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 131,593 shares; 2024Q4: 130,046 shares; 2025Q1: 981,667 shares; 2025Q2: 981,667 shares; 2025Q3: 981,326 shares; 2025Q4: 981,326 shares 981,326$10.4M0.36%0Timeline
BLACKROCK MUNIYEILD QUALITY…BLACKROCK MUNIYEILD QUALITY FUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 992,093 shares; 2024Q4: 992,085 shares; 2025Q1: 1,026,805 shares; 2025Q2: 1,026,805 shares; 2025Q3: 1,026,805 shares; 2025Q4: 1,008,573 shares 1,008,573$10.1M0.35%-18,232
BLACKROCK MUN INCOME TRBLACKROCK MUN INCOME TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 551,983 shares; 2024Q4: 551,983 shares; 2025Q1: 658,712 shares; 2025Q2: 833,784 shares; 2025Q3: 833,784 shares; 2025Q4: 833,784 shares 833,784$8.36M0.29%0
BLACKROCK MUNIVEST FUNDBLACKROCK MUNIVEST FUNDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,589,746 shares; 2024Q4: 1,534,563 shares; 2025Q1: 1,420,434 shares; 2025Q2: 1,320,857 shares; 2025Q3: 1,223,865 shares; 2025Q4: 1,192,311 shares 1,192,311$8.26M0.29%-31,554
MIYBLACKROCK MUNIYIELD MICH QUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 664,819 shares; 2024Q4: 664,819 shares; 2025Q1: 664,819 shares; 2025Q2: 664,819 shares; 2025Q3: 664,819 shares; 2025Q4: 664,819 shares 664,819$7.8M0.27%0Timeline
BLACKROCK MUNIYIELD FUNDBLACKROCK MUNIYIELD FUNDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 388,753 shares; 2024Q4: 388,753 shares; 2025Q1: 558,209 shares; 2025Q2: 744,760 shares; 2025Q3: 712,123 shares; 2025Q4: 697,362 shares 697,362$7.32M0.26%-14,761
WBDWARNER BROS DISCOVERY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 400,000 shares; 2025Q4: 226,250 shares 226,250$6.52M0.23%-173,750Timeline
NRKNUVEEN NY AMT FREEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 797,635 shares; 2024Q4: 797,635 shares; 2025Q1: 797,635 shares; 2025Q2: 797,635 shares; 2025Q3: 797,635 shares; 2025Q4: 641,105 shares 641,105$6.47M0.23%-156,530Timeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 37,836 shares; 2024Q4: 25,336 shares; 2025Q1: 15,336 shares; 2025Q2: 15,336 shares; 2025Q3: 15,336 shares; 2025Q4: 15,336 shares 15,336$6.08M0.21%0Timeline
BLACKROCK MUNICIPAL INCOME …BLACKROCK MUNICIPAL INCOME QUAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,501 shares; 2024Q4: 32,501 shares; 2025Q1: 318,938 shares; 2025Q2: 481,061 shares; 2025Q3: 479,613 shares; 2025Q4: 479,613 shares 479,613$5.25M0.18%0
VFLABRDN NATL MUN INCOME FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 401,695 shares; 2024Q4: 401,695 shares; 2025Q1: 401,695 shares; 2025Q2: 401,695 shares; 2025Q3: 401,695 shares; 2025Q4: 401,695 shares 401,695$4.13M0.14%0Timeline
NZFNUVEEN MUN CR INCOME FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,088,897 shares; 2024Q4: 3,047,961 shares; 2025Q1: 2,979,590 shares; 2025Q2: 2,972,732 shares; 2025Q3: 1,406,423 shares; 2025Q4: 324,502 shares 324,502$4.08M0.14%-1,081,921Timeline
MQYBLACKROCK MUNIYILD QULT FD IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 357,837 shares; 2024Q4: 357,837 shares; 2025Q1: 357,837 shares; 2025Q2: 357,837 shares; 2025Q3: 357,837 shares; 2025Q4: 357,837 shares 357,837$4.04M0.14%0Timeline
BLACKROCK MUNI INCOME TR IIBLACKROCK MUNI INCOME TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 151,601 shares; 2024Q4: 151,601 shares; 2025Q1: 354,024 shares; 2025Q2: 577,670 shares; 2025Q3: 363,951 shares; 2025Q4: 363,951 shares 363,951$3.8M0.13%0
VGMINVESCO TR INVT GRADE MUNSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 373,817 shares; 2024Q4: 371,828 shares; 2025Q1: 370,162 shares; 2025Q2: 370,162 shares; 2025Q3: 370,162 shares; 2025Q4: 308,543 shares 308,543$3.2M0.11%-61,619Timeline
VKQINVESCO MUNICIPAL TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 333,051 shares; 2024Q4: 328,653 shares; 2025Q1: 325,107 shares; 2025Q2: 325,107 shares; 2025Q3: 325,107 shares; 2025Q4: 325,107 shares 325,107$3.14M0.11%0Timeline
EIMEATON VANCE MUN BD FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 275,952 shares; 2024Q4: 274,253 shares; 2025Q1: 309,392 shares; 2025Q2: 400,187 shares; 2025Q3: 318,814 shares; 2025Q4: 318,814 shares 318,814$3.1M0.11%0Timeline
NQPNUVEEN PA INVT QUALITY MUN FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 233,310 shares; 2024Q4: 233,310 shares; 2025Q1: 233,310 shares; 2025Q2: 233,310 shares; 2025Q3: 233,310 shares; 2025Q4: 229,220 shares 229,220$2.73M0.1%-4,090Timeline
BLACKROCK N Y MUN INCOME TRUBLACKROCK N Y MUN INCOME TRUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 162,186 shares; 2024Q4: 162,186 shares; 2025Q1: 218,559 shares; 2025Q2: 218,559 shares; 2025Q3: 218,559 shares; 2025Q4: 218,559 shares 218,559$2.22M0.08%0
VMOINVESCO MUN OPPORTUNIT TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 205,338 shares; 2024Q4: 205,338 shares; 2025Q1: 207,705 shares; 2025Q2: 307,705 shares; 2025Q3: 307,705 shares; 2025Q4: 205,338 shares 205,338$1.97M0.07%-102,367Timeline
MFMABERDEEN MUN INCOME FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 333,155 shares; 2024Q4: 333,155 shares; 2025Q1: 333,155 shares; 2025Q2: 333,155 shares; 2025Q3: 433,155 shares; 2025Q4: 339,657 shares 339,657$1.84M0.06%-93,498Timeline
CWBSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 93,907 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 13,633 shares 13,633$1.22M0.04%newTimeline
BLACKROCK INVESTMENT QUALIT…BLACKROCK INVESTMENT QUALITY MQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 92,077 shares; 2025Q2: 92,077 shares; 2025Q3: 92,077 shares; 2025Q4: 92,077 shares 92,077$1.03M0.04%0
VKIINVESCO ADVANTAGE MUN INCOMEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 445,008 shares; 2024Q4: 445,008 shares; 2025Q1: 404,961 shares; 2025Q2: 404,961 shares; 2025Q3: 404,961 shares; 2025Q4: 105,768 shares 105,768$965K0.03%-299,193Timeline
KTFDWS MUN INCOME TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 176,016 shares; 2024Q4: 173,963 shares; 2025Q1: 173,963 shares; 2025Q2: 130,807 shares; 2025Q3: 130,807 shares; 2025Q4: 92,505 shares 92,505$841K0.03%-38,302Timeline
TPBTURNING PT BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,802 shares; 2024Q4: 6,802 shares; 2025Q1: 6,802 shares; 2025Q2: 6,802 shares; 2025Q3: 6,802 shares; 2025Q4: 6,802 shares 6,802$737K0.03%0Timeline
BLACKROCK MUNIVEST FUND IIBLACKROCK MUNIVEST FUND IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 65,678 shares; 2025Q2: 65,678 shares; 2025Q3: 65,678 shares; 2025Q4: 65,678 shares 65,678$710K0.02%0
WWWW INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 14,371 shares; 2025Q4: 14,371 shares 14,371$420K0.01%0Timeline
SECRNYLIM ACTIVE ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,136 shares 11,136$287K0.01%newTimeline
VPVINVESCO PA VALUE MUN INC TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,475 shares; 2024Q4: 15,557 shares; 2025Q1: 15,008 shares; 2025Q2: 14,433 shares; 2025Q3: 14,433 shares; 2025Q4: 14,433 shares 14,433$151K0.01%0Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
WESTERN DIGITAL CORPWESTERN DIGITAL CORP NOTE 3.000%11/1principal18,882,000$86.6M-346,000
LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 0.500% 6/1principal30,037,000$85.3M-408,000
ADVANCED ENERGY INDSADVANCED ENERGY INDS NOTE 2.500% 9/1principal44,638,000$73.3M-536,000
MIRUM PHARMACEUTICALS INCMIRUM PHARMACEUTICALS INC NOTE 4.000% 5/0principal25,532,000$66M-687,000
LANTHEUS HLDGS INCLANTHEUS HLDGS INC Convertibleprincipal56,714,000$65.1M+1,041,000
TETRA TECH INC NEWTETRA TECH INC NEW DBCV 2.250% 8/1principal59,623,000$64.8M+1,025,000
CABLE ONE INCCABLE ONE INC NOTEprincipal69,399,000$56.7M+1,975,000
UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC NOTE 0.875%12/0principal42,644,000$55.4M-347,000
POST HLDGS INCPOST HLDGS INC NOTE 2.500% 8/1principal49,514,000$53.4M-607,000
PG&E CORPPG&E CORP NOTE 4.250%12/0principal51,451,000$53M-8,988,000
ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 5/0principal39,380,000$47M-599,000
MKS INC.MKS INC. NOTE 1.250% 6/0principal36,548,000$46.7M-637,000
IRHYTHM HOLDINGS INCIRHYTHM HOLDINGS INC NOTE 1.500% 9/0principal32,682,000$45.7M+1,826,000
SEAGATE HDD CAYMANSEAGATE HDD CAYMAN NOTE 3.500% 6/0principal13,293,000$44.7M-12,275,000
SNOWFLAKE INCSNOWFLAKE INC NOTE 10/0principal29,853,000$44.4M+3,471,000
LIBERTY MEDIA CORP DELLIBERTY MEDIA CORP DEL NOTE 2.250% 8/1principal34,036,000$43.1M-397,000
NCL CORP LTDNCL CORP LTD BONDprincipal38,891,000$38.9M-420,000
SHIFT4 PMTS INCSHIFT4 PMTS INC NOTE 0.500% 8/0principal39,492,000$38.1M-405,000
ETSY INCETSY INC NOTE 0.125%10/0principal37,045,000$37.5M-448,000
CHEFS WHSE INCCHEFS WHSE INC NOTE 2.375%12/1principal23,784,000$36.2M-316,000
PATRICK INDS INCPATRICK INDS INC NOTE 1.750%12/0principal21,148,000$36M-2,205,000
MERITAGE HOMES CORPMERITAGE HOMES CORP NOTE 1.750% 5/1principal36,370,000$35.9M-654,000
AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0principal33,859,000$34M-9,585,000
DEXCOM INCDEXCOM INC NOTE 0.375% 5/1principal36,913,000$34M-377,000
DATADOG INCDATADOG INC NOTE 12/0principal33,802,000$33.8Mnew
BIOMARIN PHARMACEUTICAL INCBIOMARIN PHARMACEUTICAL INC NOTE 1.250% 5/1principal34,655,000$33.3M-551,000
BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC Convertibleprincipal28,678,000$32.3M-244,000
FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1principal30,093,000$31.3M-683,000
LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN Convertibleprincipal29,685,000$31.3Mnew
TYLER TEX INDPT SCH DISTTYLER TEX INDPT SCH DIST NOTE 0.250% 3/1principal30,319,000$30.7M-302,000
BURLINGTON STORES INCBURLINGTON STORES INC NOTE 1.250%12/1principal20,379,000$30.3M-182,000
FLUOR CORPFLUOR CORP NOTE 1.125% 8/1principal26,298,000$30M-432,000
SIRIUSXM HOLDINGS INCSIRIUSXM HOLDINGS INC NOTE 3.750% 3/1principal29,575,000$29.8M-260,000
PROGRESS SOFTWARE CORPPROGRESS SOFTWARE CORP NOTE 3.500% 3/0principal28,642,000$29M-322,000
NORTHERN OIL & GAS INCNORTHERN OIL & GAS INC NOTE 3.625% 4/1principal30,023,000$29M-2,009,000
NUTANIX INCNUTANIX INC NOTE 0.500%12/1principal29,610,000$28.6Mnew
GUIDEWIRE SOFTWARE INCGUIDEWIRE SOFTWARE INC NOTE 1.250%11/0principal25,147,000$27.7Mnew
PARSONS CORP DELPARSONS CORP DEL NOTE 2.625% 3/0principal26,133,000$26.9M-308,000
AFFIRM HLDGS INCAFFIRM HLDGS INC NOTE 0.750%12/1principal24,259,000$26.9Mnew
Q2 HLDGS INCQ2 HLDGS INC NOTE 0.750% 6/0principal25,530,000$25.9M-299,000
FRESHPET INCFRESHPET INC NOTE 3.000% 4/0principal21,347,000$25M-225,000
CABLE ONE INCCABLE ONE INC NOTE 3/1principal24,975,000$24.7M0
DROPBOX INCDROPBOX INC NOTE 3/0principal24,323,000$24.6M-290,000
RIVIAN AUTOMOTIVE INCRIVIAN AUTOMOTIVE INC NOTE 4.625% 3/1principal18,581,000$23.4M-184,000
UPSTART HLDGS INCUPSTART HLDGS INC NOTE 1.000%11/1principal25,168,000$22.1Mnew
ALNYLAM PHARMACEUTICALS INCALNYLAM PHARMACEUTICALS INC NOTE 1.000% 9/1principal14,838,000$21.8M-350,000
GREENBRIER COS INCGREENBRIER COS INC NOTE 2.875% 4/1principal19,032,000$20.5M-173,000
LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 0.500%12/1principal4,796,000$17.8M-113,000
VERTEX INCVERTEX INC NOTE 0.750% 5/0principal18,123,000$17.2M-200,000
SYNAPTICS INCSYNAPTICS INC NOTE 0.750%12/0principal16,169,000$17.1Mnew
WORKIVA INCWORKIVA INC NOTE 1.250% 8/1principal16,850,000$16.7M-220,000
IONIS PHARMACEUTICALS INCIONIS PHARMACEUTICALS INC NOTE 1.750% 6/1principal10,410,000$16.6M-17,383,000
IMPINJ INCIMPINJ INC NOTE 1.125% 5/1principal9,890,000$16.1M-75,000
GLOBAL PMTS INCGLOBAL PMTS INC NOTE 1.500% 3/0principal17,619,000$15.8M-8,934,000
CHEESECAKE FACTORY INCCHEESECAKE FACTORY INC NOTE 0.375% 6/1principal15,451,000$15.3M-359,000
JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD NOTE 2.000% 6/1principal13,087,000$15.2M-279,000
TELADOC HEALTH INCTELADOC HEALTH INC NOTE 1.250% 6/0principal15,194,000$14.5M-119,000
BILL HOLDINGS INCBILL HOLDINGS INC NOTE 4/0principal15,102,000$13.9Mnew
MGP INGREDIENTS INC NEWMGP INGREDIENTS INC NEW NOTE 1.875%11/1principal14,222,000$13.8M-438,000
RAPID7 INCRAPID7 INC NOTE 1.250% 3/1principal12,790,000$11.7M-115,000
FIVE9 INCFIVE9 INC CNVprincipal12,805,000$11.6M-540,000
AEROVIRONMENT INCAEROVIRONMENT INC NOTE 7/1principal10,210,000$11.1M+122,000
HAEMONETICS CORP MASSHAEMONETICS CORP MASS NOTE 3/0principal8,498,000$8.41M-451,000
AMPHASTAR PHARMACEUTICALS INAMPHASTAR PHARMACEUTICALS IN NOTE 2.000% 3/1principal8,733,000$8.1M-2,877,000
SPECTRUM BRANDS INCSPECTRUM BRANDS INC Convertible Bondprincipal7,857,000$7.45M-271,000
LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1principal4,789,000$6.96M-96,000
EXPEDIA GROUP INCEXPEDIA GROUP INC NOTE 2/1principal6,133,000$6.86M-50,000
CLOUDFLARE INCCLOUDFLARE INC NOTE 8/1principal5,715,000$6.71M-101,000
OSI SYSTEMS INCOSI SYSTEMS INC NOTE 2.250% 8/0principal4,522,000$6.71M-28,014,000
CONMED CORPCONMED CORP NOTE 2.250% 6/1principal6,973,000$6.69M-8,426,000
WEC ENERGY GROUP INCWEC ENERGY GROUP INC Convertibleprincipal5,334,000$6.22M-174,000
SOUTHERN COSOUTHERN CO NOTE 4.500% 6/1principal5,598,000$5.97M-138,000
HALOZYME THERAPEUTICS INCHALOZYME THERAPEUTICS INC NOTE 0.250% 3/0principal5,239,000$5.65M-45,264,000
Dropbox IncDropbox Inc Convertible bondprincipal5,630,000$5.58M-83,000
VAIL RESORTS INCVAIL RESORTS INC NOTE 1/0principal5,408,000$5.4M-351,000
NUTANIX INCNUTANIX INC Convertibleprincipal4,534,000$5.09M-36,136,000
BENTLEY SYS INCBENTLEY SYS INC NOTE 0.125% 1/1principal4,346,000$4.34M-315,000
INTEGER HLDGS CORPINTEGER HLDGS CORP NOTE 2.125% 2/1principal3,726,000$4.19M-235,000
OIL STS INTL INCOIL STS INTL INC NOTE 4.750% 4/0principal4,136,000$4.15M-17,185,000
IONIS PHARMACEUTICALS INCIONIS PHARMACEUTICALS INC NOTE 4/0principal2,768,000$3.79M-48,000
BLACKLINE INCBLACKLINE INC NOTE 1.000% 6/0principal635,000$671K-365,000
PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1principal500,000$549K-3,000
DUKE ENERGY CORP NEWDUKE ENERGY CORP NEW CONV BNDprincipal500,000$516K-5,000
CHEGG INCCHEGG INC NOTE 9/0principal45,000$40.2K0

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
LUMENTUM HLDGS INCLUMENTUM HLDGS INC9,060,000$21.9Mprincipal
XNEAXNUVEEN AMT FREE QLTY MUN INC1,801,320$20.5Mshares
NVGNUVEEN AMT FREE MUN CR INC F1,165,469$14.3Mshares
NADNUVEEN QUALITY MUNCP INCOME1,058,093$12.4Mshares
NACNUVEEN CA DIVI ADV MUN511,343$5.88Mshares
Shift4 Payments IncShift4 Payments Inc4,779,000$4.9Mprincipal
PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TR4,923,000$4.85Mprincipal
VODVODAFONE GROUP PLC371,152$4.31Mshares
EATON VANCE NEW YORK MUN BDEATON VANCE NEW YORK MUN BD421,971$4.16Mshares
EXACT SCIENCES CORPEXACT SCIENCES CORP4,034,000$3.73Mprincipal
IQIINVESCO QUALITY MUN INCOME T94,994$936Kshares
SOUTHERN COSOUTHERN CO655,000$738Kprincipal
BILL HOLDINGS INCBILL HOLDINGS INC75,000$73.8Kprincipal
NINE ENERGY SERVICE INCNINE ENERGY SERVICE INC116,342$73.5Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000061227-26-000001 base2026-01-29acceptance time not in the bulk data set