MACKAY SHIELDS LLC

PrivateCIK: 61227

Location

NEW YORK, NY

111

Positions

$2.73B

Total AUM (reported)

1.66B

Total Shares

Allocation by class

NOTE 0.500% 6/1$143.55M5.3%

COM$131.06M4.8%

NOTE 3.000%11/1$110.83M4.1%

NOTE 2.500% 9/1$95.38M3.5%

NOTE 4.000% 5/0$68.96M2.5%

NOTE 1.250% 6/0$67.60M2.5%

5.50 DEP PFD$65.26M2.4%

Portfolio Concentration

Top 3$349.77M12.8%

4–10$425.96M15.6%

11–25$621.75M22.8%

Rest$1.33B48.8%

Top 3 weight

12.8%

Top 10 weight

28.4%

Voting Authority Distribution

Total shares with voting rights: 1.66B

Sole

Full voting authority

107.58M

% of voting shares6.5%

Shared

Joint voting authority

1.55B

% of voting shares93.5%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole50

Shared0

Other61

Dominant voting typeShared · 93.5% of voting shares

Institutional Holdings111

Rows:

LUMENTUM HLDGS INC

OTR

NOTE 0.500% 6/1

Shares26.79M

TypePRN

Market value$143.55M

5.26%

Sole

1.38M

Shared

25.41M

None

0.00

WESTERN DIGITAL CORP

SOLE

NOTE 3.000%11/1

Shares15.48M

TypePRN

Market value$110.83M

4.06%

Sole

678K

Shared

14.80M

None

0.00

ADVANCED ENERGY INDS

SOLE

NOTE 2.500% 9/1

Shares39.64M

TypePRN

Market value$95.38M

3.50%

Sole

1.52M

Shared

38.12M

None

0.00

MIRUM PHARMACEUTICALS INC

OTR

NOTE 4.000% 5/0

Shares23.05M

TypePRN

Market value$68.96M

2.53%

Sole

682K

Shared

22.37M

None

0.00

QXO INC

DFND

5.50 DEP PFD

Shares1.17M

TypeSH

Market value$65.26M

2.39%

Sole

44.88K

Shared

1.13M

None

0.00

LANTHEUS HLDGS INC

OTR

NOTE 2.625%12/1

Shares50.90M

TypePRN

Market value$61.20M

2.24%

Sole

1.99M

Shared

48.91M

None

0.00

MKS INC.

DFND

NOTE 1.250% 6/0

Shares36.51M

TypePRN

Market value$60.40M

2.21%

Sole

1.40M

Shared

35.11M

None

0.00

CABLE ONE INC

OTR

NOTE 1.125% 3/1

Shares77.36M

TypePRN

Market value$58.37M

2.14%

Sole

30.39M

Shared

46.97M

None

0.00

TETRA TECH INC NEW

OTR

DBCV 2.250% 8/1

Shares54.52M

TypePRN

Market value$57.18M

2.10%

Sole

2.48M

Shared

52.03M

None

0.00

UBER TECHNOLOGIES INC

OTR

NOTE 0.875%12/0

Shares45.35M

TypePRN

Market value$54.60M

2.00%

Sole

2.19M

Shared

43.16M

None

0.00

BOEING CO

OTR

DEP CONV PFD A

Shares829.41K

TypeSH

Market value$53.89M

1.98%

Sole

38.10K

Shared

791.31K

None

0.00

ON SEMICONDUCTOR CORP

OTR

NOTE 5/0

Shares39.17M

TypePRN

Market value$50.60M

1.86%

Sole

1.59M

Shared

37.58M

None

0.00

PG&E CORP

OTR

NOTE 4.250%12/0

Shares46.38M

TypePRN

Market value$48.06M

1.76%

Sole

2.07M

Shared

44.31M

None

0.00

POST HLDGS INC

DFND

NOTE 2.500% 8/1

Shares40.23M

TypePRN

Market value$43.62M

1.60%

Sole

1.48M

Shared

38.75M

None

0.00

INTEGER HLDGS CORP

OTR

DBCV 1.875% 3/1

Shares45.16M

TypePRN

Market value$43.28M

1.59%

Sole

2.01M

Shared

43.15M

None

0.00

APOLLO GLOBAL MGMT INC

OTR

SER A MAND CNV

Shares713.81K

TypeSH

Market value$41.97M

1.54%

Sole

27.80K

Shared

686.01K

None

0.00

LIBERTY MEDIA CORP DEL

DFND

NOTE 2.250% 8/1

Shares33.97M

TypePRN

Market value$39.26M

1.44%

Sole

1.17M

Shared

32.80M

None

0.00

AKAMAI TECHNOLOGIES INC

SOLE

NOTE 0.375% 9/0

Shares33.82M

TypePRN

Market value$39.25M

1.44%

Sole

1.19M

Shared

32.63M

None

0.00

HEWLETT PACKARD ENTERPRISE C

DFND

7.625 MAND CONV

Shares601.86K

TypeSH

Market value$39.02M

1.43%

Sole

25.80K

Shared

576.06K

None

0.00

SNOWFLAKE INC

OTR

NOTE 10/0

Shares32.57M

TypePRN

Market value$38.52M

1.41%

Sole

1.98M

Shared

30.59M

None

0.00

NCL CORP LTD

SOLE

NOTE 1.125% 2/1

Shares38.89M

TypePRN

Market value$37.98M

1.39%

Sole

1.29M

Shared

37.60M

None

0.00

BRIDGEBIO PHARMA INC

SOLE

NOTE 2.250% 2/0

Shares33.31M

TypePRN

Market value$37.36M

1.37%

Sole

1.17M

Shared

32.15M

None

0.00

NORTHERN OIL & GAS INC

OTR

NOTE 3.625% 4/1

Shares33.30M

TypePRN

Market value$36.61M

1.34%

Sole

1.53M

Shared

31.77M

None

0.00

FRESHPET INC

OTR

NOTE 3.000% 4/0

Shares31.79M

TypePRN

Market value$36.58M

1.34%

Sole

1.04M

Shared

30.75M

None

0.00

IRHYTHM HOLDINGS INC

SOLE

NOTE 1.500% 9/0

Shares32.63M

TypePRN

Market value$35.75M

1.31%

Sole

Shared

31.63M

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared
LUMENTUM HLDGS INCOTR	NOTE 0.500% 6/1	26.79M	PRN	$143.55M 5.26%	1.38M	25.41M
WESTERN DIGITAL CORPSOLE	NOTE 3.000%11/1	15.48M	PRN	$110.83M 4.06%	678K	14.80M
ADVANCED ENERGY INDSSOLE	NOTE 2.500% 9/1	39.64M	PRN	$95.38M 3.50%	1.52M	38.12M
MIRUM PHARMACEUTICALS INCOTR	NOTE 4.000% 5/0	23.05M	PRN	$68.96M 2.53%	682K	22.37M
QXO INCDFND	5.50 DEP PFD	1.17M	SH	$65.26M 2.39%	44.88K	1.13M
LANTHEUS HLDGS INCOTR	NOTE 2.625%12/1	50.90M	PRN	$61.20M 2.24%	1.99M	48.91M
MKS INC.DFND	NOTE 1.250% 6/0	36.51M	PRN	$60.40M 2.21%	1.40M	35.11M
CABLE ONE INCOTR	NOTE 1.125% 3/1	77.36M	PRN	$58.37M 2.14%	30.39M	46.97M
TETRA TECH INC NEWOTR	DBCV 2.250% 8/1	54.52M	PRN	$57.18M 2.10%	2.48M	52.03M
UBER TECHNOLOGIES INCOTR	NOTE 0.875%12/0	45.35M	PRN	$54.60M 2.00%	2.19M	43.16M
BOEING COOTR	DEP CONV PFD A	829.41K	SH	$53.89M 1.98%	38.10K	791.31K
ON SEMICONDUCTOR CORPOTR	NOTE 5/0	39.17M	PRN	$50.60M 1.86%	1.59M	37.58M
PG&E CORPOTR	NOTE 4.250%12/0	46.38M	PRN	$48.06M 1.76%	2.07M	44.31M
POST HLDGS INCDFND	NOTE 2.500% 8/1	40.23M	PRN	$43.62M 1.60%	1.48M	38.75M
INTEGER HLDGS CORPOTR	DBCV 1.875% 3/1	45.16M	PRN	$43.28M 1.59%	2.01M	43.15M
APOLLO GLOBAL MGMT INCOTR	SER A MAND CNV	713.81K	SH	$41.97M 1.54%	27.80K	686.01K
LIBERTY MEDIA CORP DELDFND	NOTE 2.250% 8/1	33.97M	PRN	$39.26M 1.44%	1.17M	32.80M
AKAMAI TECHNOLOGIES INCSOLE	NOTE 0.375% 9/0	33.82M	PRN	$39.25M 1.44%	1.19M	32.63M
HEWLETT PACKARD ENTERPRISE CDFND	7.625 MAND CONV	601.86K	SH	$39.02M 1.43%	25.80K	576.06K
SNOWFLAKE INCOTR	NOTE 10/0	32.57M	PRN	$38.52M 1.41%	1.98M	30.59M
NCL CORP LTDSOLE	NOTE 1.125% 2/1	38.89M	PRN	$37.98M 1.39%	1.29M	37.60M
BRIDGEBIO PHARMA INCSOLE	NOTE 2.250% 2/0	33.31M	PRN	$37.36M 1.37%	1.17M	32.15M
NORTHERN OIL & GAS INCOTR	NOTE 3.625% 4/1	33.30M	PRN	$36.61M 1.34%	1.53M	31.77M
FRESHPET INCOTR	NOTE 3.000% 4/0	31.79M	PRN	$36.58M 1.34%	1.04M	30.75M
IRHYTHM HOLDINGS INCSOLE	NOTE 1.500% 9/0	32.63M	PRN	$35.75M 1.31%	1M	31.63M

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