Mackay Shields Llc Investment Activity Analysis: Third Quarter 2026 Portfolio Changes

Mackay Shields Llc, a significant investor, saw its portfolio holdings undergo notable changes during the third quarter of 2026, ending on September 30th. The total portfolio value stood at $246,414,667, reflecting the combined market value of its 19 distinct holdings.

Purchase Highlights: A Focus on Municipal Income

The most striking purchase during this period was the substantial increase in shares of ABERDEEN MUN INCOME FD (MFM). The data shows a significant 225.65% increase in the number of shares held, indicating strong confidence or a strategic shift towards this Financial Services sector fund. This Aberdeen Municipal Income Fund common term preferred cumulative bond ETF represents a considerable new allocation within the portfolio.

Sales and Exits: Reducing Exposure in Energy and Gold

Conversely, the investor demonstrated a clear exit strategy from certain holdings. Shares of ISHARES GOLD TR (IAU) saw a significant reduction, with a decrease of 28.21% in the number of shares held and a corresponding decrease in its portfolio allocation to 0.67%. Similarly, the position in NINE ENERGY SERVICE INC (NINE) was reduced, albeit by a smaller percentage, decreasing by 0.78% in weight. The investor also sold shares of TALOS ENERGY INC (TALO), which resulted in a 13.76% decrease in its portfolio allocation.

Stable Holdings: Financial Services Dominance Continues

Several core holdings remained stable in terms of share count changes. BLACKROCK MUN TARGET TERM TR (BTT) and BLACKROCK MUNIYIELD N Y QUAL (MYN) maintained their share counts, both falling under the broad Financial Services sector umbrella. BLACKROCK MUNIHOLDINGS FD IN (MHD) also kept its share count constant, further emphasizing the investor's focus on Financial Services within its portfolio structure.

Additional Changes: Energy and Banking Adjustments

Further adjustments were noted in other sectors. The investor sold shares of GULFPORT ENERGY CORP (GPOR), which is categorized under Energy. Additionally, while the share count for WELLS FARGO & CO (WFC-L) increased slightly by 0.05%, its portfolio allocation percentage remained unchanged at 0.58%. The position in BANK OF AMER CORP (BAC.PRN) also saw a small increase in shares (0.14%) but maintained its allocation percentage.

Portfolio Insights: Concentration and Activity

The portfolio analysis reveals a concentration in the Financial Services sector, accounting for 51.54% of the total value. The remaining allocations are distributed across Energy (21.68%), Unknown (26.7%), and a negligible portion in Healthcare (0.09%). The changes observed this quarter indicate active management, with a clear preference for adding to the Financial Services complex, particularly through the purchase of ABERDEEN MUN INCOME FD (MFM), while strategically reducing exposure in Energy and exiting the Gold position.