Mackay Shields LLC
MacKay Shields LLC is a global boutique investment firm headquartered in New York, NY, with additional offices in Princeton, NJ and Los Angeles, CA. Founded in 1938 and acquired by New York Life Insurance Company in 1984, MacKay Shields offers institutional investors specialty fixed income expertise across global fixed income markets, including municipal bonds, structured credit, corporate credit, and emerging market debt. The firm employs between 201 and 500 people and operates as a wholly owned subsidiary of New York Life Investment Management Holdings LLC. MacKay serves a wide array of clients globally, delivering customized, research-driven solutions and direct access to experienced investment professionals.
Investment Strategy
MacKay Shields employs multiple dedicated investment teams specializing in fixed income strategies such as Convertibles, Emerging Market Debt, Global Credit, Global Fixed Income, High Yield, and Municipal Bonds. Each team uses research-intensive processes focusing on less efficient markets with the objective of generating alpha. The firm emphasizes disciplined investment research, ESG (environmental, social, and governance) integration tailored to client needs, and a bottom-up approach for security selection. Their strategies aim for competitive performance and downside protection, leveraging the judgment of experienced professionals. MacKay Shields partners closely with institutional investors for direct access to senior investment management.
Top Holdings
Equity Positions (54)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A APO-PA | APOLLO GLOBAL MGMT INC | 1.75% | $54.6M | 725,064 | $55.11 | $74.85 | +$1.0M |
N NEE-PR | NEXTERA ENERGY INC | 1.54% | $48.0M | 1,204,627 | $42.48 | $39.74 | -$1.6M |
N NEA | NUVEEN AMT FREE QLTY MUN INC | 1.40% | $43.7M | 4,002,639 | $12.09 | $10.92 | -$1.1M |
N NZF | NUVEEN MUNICIPAL CREDIT INC | 1.13% | $35.4M | 2,972,732 | $12.26 | $11.92 | -$1.0M |
I IAU | ISHARES GOLD TR | 1.11% | $34.6M | 555,000 | $33.71 | $62.36 | -$4.3M |