-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FFIgUDUXaqxKpLEIxh1zVCtL9BunogIhycRSzImGtAe1uf8gMXMQ2q1BEOdtoZjy 16kH2/gKpZxdw6ydaL+kFQ== 0001085146-09-003013.txt : 20090728 0001085146-09-003013.hdr.sgml : 20090728 20090728070357 ACCESSION NUMBER: 0001085146-09-003013 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090630 FILED AS OF DATE: 20090728 DATE AS OF CHANGE: 20090728 EFFECTIVENESS DATE: 20090728 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MACKAY SHIELDS LLC CENTRAL INDEX KEY: 0000061227 IRS NUMBER: 134080466 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-00046 FILM NUMBER: 09965802 BUSINESS ADDRESS: STREET 1: 9 WEST 57TH STREET STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-758-5400 MAIL ADDRESS: STREET 1: 9 WEST 57TH STREET STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 FORMER COMPANY: FORMER CONFORMED NAME: MACKAY SHIELDS FINANCIAL CORP DATE OF NAME CHANGE: 19920929 13F-HR 1 mack2q09.txt MACKAY SHIELDS LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2009 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: MacKay Shields LLC Address: 9 West 57th Street, 34th Floor New York, NY 10019 13F File Number: 28-00046 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Rene A. Bustamante Title: Chief Compliance Officer Phone: (212) 230-3811 Signature, Place, and Date of Signing: /s/ Rene A. Bustamante New York, NY July 27, 2009 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form13F Information Table Entry Total: 302 Form13F Information Table Value Total: $2,041,401 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3COM CORP COM 885535104 119 25182 SH SOLE 25182 0 0 3M CO COM 88579Y101 2801 46618 SH SOLE 46618 0 0 A D C TELECOMMUNICATIONS COM NEW 000886309 100 12551 SH SOLE 12551 0 0 ABBOTT LABS COM 002824100 2122 45100 SH SOLE 45100 0 0 ACXIOM CORP COM 005125109 111 12524 SH SOLE 12524 0 0 ADVANCED ANALOGIC TECHNOLOGI COM 00752J108 94 20462 SH SOLE 20462 0 0 AERCAP HOLDINGS NV SHS N00985106 125 17287 SH SOLE 17287 0 0 AFC ENTERPRISES INC COM 00104Q107 103 15300 SH SOLE 15300 0 0 AKAMAI TECHNOLOGIES INC COM 00971T101 1103 57500 SH SOLE 57500 0 0 ALCOA INC NOTE 5.250% 3/1 013817AT8 6147 3500000 PRN SOLE 3500000 0 0 ALCON INC COM SHS H01301102 8 50400 SH PUT SOLE 50400 0 0 ALCON INC COM SHS H01301102 30290 260855 SH SOLE 260855 0 0 ALLEGHENY TECHNOLOGIES INC NOTE 4.250% 6/0 01741RAD4 14624 13243000 PRN SOLE 13243000 0 0 ALLIANZ SE SP ADR 1/10 SH 018805101 774 84000 SH SOLE 84000 0 0 ALPHA NATURAL RESOURCES INC NOTE 2.375% 4/1 02076XAA0 4815 6000000 PRN SOLE 6000000 0 0 ALZA CORP SDCV 7/2 02261WAB5 14878 17209000 PRN SOLE 17209000 0 0 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 216 15241 SH SOLE 15241 0 0 AMERICAN TOWER CORP CL A 029912201 1403 44500 SH SOLE 44500 0 0 AMERICREDIT CORP NOTE 2.125% 9/1 03060RAR2 12532 18775000 PRN SOLE 18775000 0 0 AMGEN INC COM 031162100 2248 42471 SH SOLE 42471 0 0 AMGEN INC NOTE 0.125% 2/0 031162AN0 50106 52495000 PRN SOLE 52495000 0 0 AMPHENOL CORP NEW CL A 032095101 3211 101500 SH SOLE 101500 0 0 ANIXTER INTL INC NOTE 1.000% 2/1 035290AJ4 12439 15025000 PRN SOLE 15025000 0 0 ANNTAYLOR STORES CORP COM 036115103 91 11454 SH SOLE 11454 0 0 APACHE CORP COM 037411105 1035 14348 SH SOLE 14348 0 0 APPLE INC COM 037833100 4280 30050 SH SOLE 30050 0 0 ARCELORMITTAL SA LUXEMBOURG NOTE 5.000% 5/1 03938LAK0 13436 10600000 PRN SOLE 10600000 0 0 ARCHER DANIELS MIDLAND CO NOTE 0.875% 2/1 039483AW2 3638 3976000 PRN SOLE 3976000 0 0 ARVINMERITOR INC NOTE 4.000% 2/1 043353AH4 1965 4822000 PRN SOLE 4822000 0 0 ASBURY AUTOMOTIVE GROUP INC NOTE 3.000% 9/1 043436AG9 2845 4000000 PRN SOLE 4000000 0 0 AT&T INC COM 00206R102 5127 206432 SH SOLE 206432 0 0 AVNET INC COM 053807103 260 12376 SH SOLE 12376 0 0 AXA SPONSORED ADR 054536107 3123 165400 SH SOLE 165400 0 0 BAKER HUGHES INC COM 057224107 8785 241089 SH SOLE 241089 0 0 BANK MUTUAL CORP NEW COM 063750103 89 10259 SH SOLE 10259 0 0 BANK OF AMERICA CORPORATION COM 060505104 5549 420439 SH SOLE 420439 0 0 BANK OF NEW YORK MELLON CORP COM 064058100 4166 142160 SH SOLE 142160 0 0 BAXTER INTL INC COM 071813109 1965 37100 SH SOLE 37100 0 0 BEAZER HOMES USA INC NOTE 4.625% 6/1 07556QAL9 1205 2000000 PRN SOLE 2000000 0 0 BECKMAN COULTER INC NOTE 2.500%12/1 075811AD1 1335 1343000 PRN SOLE 1343000 0 0 BECTON DICKINSON & CO COM 075887109 1519 21300 SH SOLE 21300 0 0 BHP BILLITON LTD SPONSORED ADR 088606108 1423 26000 SH SOLE 26000 0 0 BIOMARIN PHARMACEUTICAL INC NOTE 1.875% 4/2 09061GAD3 11298 12460000 PRN SOLE 12460000 0 0 BOSTON PPTYS LTD PARTNERSHIP NOTE 3.750% 5/1 10112RAG9 11716 13220000 PRN SOLE 13220000 0 0 BOSTON SCIENTIFIC CORP COM 101137107 5084 501400 SH SOLE 501400 0 0 BP PLC SPONSORED ADR 055622104 71117 1491556 SH SOLE 1491556 0 0 BRISTOL MYERS SQUIBB CO COM 110122108 1316 64800 SH SOLE 64800 0 0 BUCKEYE TECHNOLOGIES INC COM 118255108 65 14425 SH SOLE 14425 0 0 C&D TECHNOLOGIES INC COM 124661109 79 39663 SH SOLE 39663 0 0 CABLEVISION SYS CORP CL A NY CABLVS 12686C109 1030 53091 SH SOLE 53091 0 0 CAMERON INTERNATIONAL CORP COM 13342B105 1893 66900 SH SOLE 66900 0 0 CAMERON INTERNATIONAL CORP NOTE 2.500% 6/1 13342BAB1 33280 29188000 PRN SOLE 29188000 0 0 CANON INC ADR 138006309 621 19100 SH SOLE 19100 0 0 CARDINAL HEALTH INC COM 14149Y108 1119 36628 SH SOLE 36628 0 0 CARNIVAL CORP PAIRED CTF 143658300 1886 73200 SH SOLE 73200 0 0 CARNIVAL CORP DBCV 2.000% 4/1 143658AN2 8885 9231000 PRN SOLE 9231000 0 0 CATERPILLAR INC DEL COM 149123101 548 16600 SH SOLE 16600 0 0 CELANESE CORP DEL PFD 4.25% CONV 150870202 3744 118428 PRN SOLE 118428 0 0 CELANESE CORP DEL PFD 4.25% CONV 150870202 14991 474710 SH SOLE 474710 0 0 CELERA CORP COM 15100E106 113 14825 SH SOLE 14825 0 0 CELGENE CORP COM 151020104 1722 36000 SH SOLE 36000 0 0 CELLCOM ISRAEL LTD SHS M2196U109 3611 135900 SH SOLE 135900 0 0 CHESAPEAKE ENERGY CORP NOTE 2.500% 5/1 165167BZ9 33245 46659000 PRN SOLE 46659000 0 0 CHESAPEAKE ENERGY CORP NOTE 2.750%11/1 165167BW6 4310 4975000 PRN SOLE 4975000 0 0 CHEVRON CORP NEW COM 166764100 4028 60807 SH SOLE 60807 0 0 CHRISTOPHER & BANKS CORP COM 171046105 117 17400 SH SOLE 17400 0 0 CISCO SYS INC COM 17275R102 1322 70900 SH SOLE 70900 0 0 CITIGROUP INC COM 172967101 1006 338630 SH SOLE 338630 0 0 COACH INC COM 189754104 2126 79100 SH SOLE 79100 0 0 COCA COLA CO COM 191216100 2625 54700 SH SOLE 54700 0 0 COLGATE PALMOLIVE CO COM 194162103 1210 17100 SH SOLE 17100 0 0 COMCAST CORP NEW CL A 20030N101 2335 161215 SH SOLE 161215 0 0 COMMERCIAL VEH GROUP INC COM 202608105 41 28750 SH SOLE 28750 0 0 COMMSCOPE INC NOTE 3.250% 7/0 203372AG2 5700 5000000 PRN SOLE 5000000 0 0 CONAGRA FOODS INC COM 205887102 1194 62656 SH SOLE 62656 0 0 CONMED CORP NOTE 2.500%11/1 207410AD3 9859 11579000 PRN SOLE 11579000 0 0 CONOCOPHILLIPS COM 20825C104 1917 45581 SH SOLE 45581 0 0 CONSECO INC DBCV 3.500% 9/3 208464BH9 6789 13055000 PRN SOLE 13055000 0 0 COOPER TIRE & RUBR CO COM 216831107 122 12257 SH SOLE 12257 0 0 CORE LABORATORIES LP NOTE 0.250%10/3 21868FAB9 16821 16274000 PRN SOLE 16274000 0 0 COSTCO COMPANIES INC NOTE 8/1 22160QAC6 4586 4399000 PRN SOLE 4399000 0 0 COSTCO WHSL CORP NEW COM 22160K105 6165 134895 SH SOLE 134895 0 0 COVANTA HLDG CORP DBCV 1.000% 2/0 22282EAA0 43404 49795000 PRN SOLE 49795000 0 0 COWEN GROUP INC COM 223621103 109 13000 SH SOLE 13000 0 0 CROWN HOLDINGS INC COM 228368106 261 10800 SH SOLE 10800 0 0 CSX CORP COM 126408103 1380 39871 SH SOLE 39871 0 0 CVS CAREMARK CORPORATION COM 126650100 2781 87266 SH SOLE 87266 0 0 D R HORTON INC NOTE 2.000% 5/1 23331ABB4 4345 4526000 PRN SOLE 4526000 0 0 DANAHER CORP DEL COM 235851102 2902 47000 SH SOLE 47000 0 0 DANAHER CORP DEL NOTE 1/2 235851AF9 3150 3433000 PRN SOLE 3433000 0 0 DEVON ENERGY CORP NEW COM 25179M103 1211 22223 SH SOLE 22223 0 0 DIAMOND OFFSHORE DRILLING IN COM 25271C102 245 2946 SH SOLE 2946 0 0 DIRECTV GROUP INC COM 25459L106 2214 89600 SH SOLE 89600 0 0 DISNEY WALT CO COM DISNEY 254687106 2523 108146 SH SOLE 108146 0 0 DOMINION RES INC VA NEW COM 25746U109 718 21503 SH SOLE 21503 0 0 DU PONT E I DE NEMOURS & CO COM 263534109 1569 61228 SH SOLE 61228 0 0 DUKE ENERGY CORP NEW COM 26441C105 2200 150764 SH SOLE 150764 0 0 E M C CORP MASS COM 268648102 1161 88600 SH SOLE 88600 0 0 E M C CORP MASS NOTE 1.750%12/0 268648AK8 45040 43349000 PRN SOLE 43349000 0 0 EASTMAN KODAK CO NOTE 3.375%10/1 277461BE8 8567 10577000 PRN SOLE 10577000 0 0 ENERGY CONVERSION DEVICES IN NOTE 3.000% 6/1 292659AA7 765 1189000 PRN SOLE 1189000 0 0 ENERSYS NOTE 3.375% 6/0 29275YAA0 5717 7400000 PRN SOLE 7400000 0 0 ENI S P A SPONSORED ADR 26874R108 5986 126250 SH SOLE 126250 0 0 ENZON PHARMACEUTICALS INC NOTE 4.000% 6/0 293904AE8 14164 14988000 PRN SOLE 14988000 0 0 EQUINIX INC COM NEW 29444U502 255 3500 SH SOLE 3500 0 0 EXTREME NETWORKS INC COM 30226D106 85 42596 SH SOLE 42596 0 0 EXXON MOBIL CORP COM 30231G102 4637 66324 SH SOLE 66324 0 0 FEDEX CORP COM 31428X106 3310 59506 SH SOLE 59506 0 0 FIRSTENERGY CORP COM 337932107 809 20874 SH SOLE 20874 0 0 FISERV INC COM 337738108 206 4500 SH SOLE 4500 0 0 FISHER SCIENTIFIC INTL INC NOTE 3.250% 3/0 338032AX3 37222 30493000 PRN SOLE 30493000 0 0 FLAMEL TECHNOLOGIES SA SPONSORED ADR 338488109 85 12138 SH SOLE 12138 0 0 FLUOR CORP NEW COM 343412102 205 4000 SH SOLE 4000 0 0 FOREST OIL CORP COM PAR $0.01 346091705 1670 111900 SH SOLE 111900 0 0 FREEPORT-MCMORAN COPPER & GO COM 35671D857 1374 27411 SH SOLE 27411 0 0 FREEPORT-MCMORAN COPPER & GO PFD CONV 35671D782 1326 16683 PRN SOLE 16683 0 0 FREEPORT-MCMORAN COPPER & GO PFD CONV 35671D782 9789 123240 SH SOLE 123240 0 0 FRONTIER OIL CORP COM 35914P105 4411 336401 SH SOLE 336401 0 0 GENERAL CABLE CORP DEL NEW NOTE 0.875%11/1 369300AD0 16434 18010000 PRN SOLE 18010000 0 0 GENERAL ELECTRIC CO COM 369604103 2866 244553 SH SOLE 244553 0 0 GENERAL MLS INC COM 370334104 2958 52794 SH SOLE 52794 0 0 GENWORTH FINL INC COM CL A 37247D106 130 18552 SH SOLE 18552 0 0 GILEAD SCIENCES INC COM 375558103 3166 67600 SH SOLE 67600 0 0 GILEAD SCIENCES INC NOTE 0.625% 5/0 375558AH6 9864 7617000 PRN SOLE 7617000 0 0 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 14223 402800 SH SOLE 402800 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 2354 15962 SH SOLE 15962 0 0 GOOGLE INC CL A 38259P508 3162 7500 SH SOLE 7500 0 0 GREAT ATLANTIC & PAC TEA INC NOTE 5.125% 6/1 390064AJ2 1819 2475000 PRN SOLE 2475000 0 0 GREAT ATLANTIC & PAC TEA INC NOTE 6.750%12/1 390064AK9 10950 17805000 PRN SOLE 17805000 0 0 GUESS INC COM 401617105 286 11100 SH SOLE 11100 0 0 GULF ISLAND FABRICATION INC COM 402307102 475 30000 SH SOLE 30000 0 0 HALLIBURTON CO COM 406216101 9250 446842 SH SOLE 446842 0 0 HESS CORP COM 42809H107 3697 68779 SH SOLE 68779 0 0 HEWLETT PACKARD CO COM 428236103 3318 85854 SH SOLE 85854 0 0 HOLOGIC INC FRNT 2.000%12/1 436440AA9 9402 13188000 PRN SOLE 13188000 0 0 HOME DEPOT INC COM 437076102 1731 73259 SH SOLE 73259 0 0 HONEYWELL INTL INC COM 438516106 2883 91798 SH SOLE 91798 0 0 HSBC HLDGS PLC SPON ADR NEW 404280406 5556 133300 SH SOLE 133300 0 0 ILLINOIS TOOL WKS INC COM 452308109 1647 44100 SH SOLE 44100 0 0 IMPAX LABORATORIES INC COM 45256B101 252 34221 SH SOLE 34221 0 0 INFOSYS TECHNOLOGIES LTD SPONSORED ADR 456788108 574 15600 SH SOLE 15600 0 0 INGERSOLL-RAND COMPANY LTD CL A G4776G101 3442 164720 SH SOLE 164720 0 0 INGERSOLL-RAND GLOBAL HLDG C NOTE 4.500% 4/1 45687AAD4 5375 4000000 PRN SOLE 4000000 0 0 INTEL CORP COM 458140100 7024 424420 SH SOLE 424420 0 0 INTEL CORP SDCV 2.950%12/1 458140AD2 11803 13985000 PRN SOLE 13985000 0 0 INTERNATIONAL BUSINESS MACHS COM 459200101 7328 70180 SH SOLE 70180 0 0 INTERNATIONAL COAL GRP INC N COM 45928H106 45 15636 SH SOLE 15636 0 0 INVESTORS BANCORP INC COM 46146P102 104 11400 SH SOLE 11400 0 0 ION GEOPHYSICAL CORP COM 462044108 1647 641000 SH SOLE 641000 0 0 ISHARES TR RUSSELL1000VAL 464287598 9239 194100 SH SOLE 194100 0 0 ISHARES TR S&P EURO PLUS 464287861 34639 1103870 SH SOLE 1103870 0 0 ISHARES TR MSCI EAFE IDX 464287465 11173 243900 SH SOLE 243900 0 0 ITRON INC NOTE 2.500% 8/0 465741AJ5 13661 12456000 PRN SOLE 12456000 0 0 JETBLUE AIRWAYS CORP DBCV 3.750% 3/1 477143AC5 12447 12932000 PRN SOLE 12932000 0 0 JOHNSON & JOHNSON COM 478160104 3008 52953 SH SOLE 52953 0 0 JOY GLOBAL INC COM 481165108 1239 34685 SH SOLE 34685 0 0 JPMORGAN CHASE & CO COM 46625H100 5873 172169 SH SOLE 172169 0 0 KENDLE INTERNATIONAL INC NOTE 3.375% 7/1 48880LAA5 4165 5600000 PRN SOLE 5600000 0 0 KEY ENERGY SVCS INC COM 492914106 129 22419 SH SOLE 22419 0 0 KIMBERLY CLARK CORP COM 494368103 927 17691 SH SOLE 17691 0 0 KOHLS CORP COM 500255104 3072 71844 SH SOLE 71844 0 0 KROGER CO COM 501044101 4005 181633 SH SOLE 181633 0 0 L-1 IDENTITY SOLUTIONS INC NOTE 3.750% 5/1 50212AAB2 5919 7445000 PRN SOLE 7445000 0 0 L-3 COMMUNICATIONS CORP DEBT 3.000% 8/0 502413AW7 22988 23816000 PRN SOLE 23816000 0 0 L-3 COMMUNICATIONS HLDGS INC COM 502424104 229 3300 SH SOLE 3300 0 0 LINEAR TECHNOLOGY CORP COM 535678106 607 26000 SH SOLE 26000 0 0 LIONS GATE ENTMNT CORP NOTE 2.938%10/1 535919AF1 8836 11009000 PRN SOLE 11009000 0 0 LIONS GATE ENTMNT CORP NOTE 3.625% 3/1 535919AG9 12613 16380000 PRN SOLE 16380000 0 0 LKQ CORP COM 501889208 178 10800 SH SOLE 10800 0 0 LORAL SPACE & COMMUNICATNS I COM 543881106 12156 472075 SH SOLE 472075 0 0 LOWES COS INC COM 548661107 5908 304388 SH SOLE 304388 0 0 LSI INDS INC COM 50216C108 77 14150 SH SOLE 14150 0 0 MARKET VECTORS ETF TR AGRIBUS ETF 57060U605 362 10500 SH SOLE 10500 0 0 MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 1691 145300 SH SOLE 145300 0 0 MCDERMOTT INTL INC COM 580037109 3187 156900 SH SOLE 156900 0 0 MCDONALDS CORP COM 580135101 2265 39400 SH SOLE 39400 0 0 MCMORAN EXPLORATION CO COM 582411104 95 15957 SH SOLE 15957 0 0 MEDCO HEALTH SOLUTIONS INC COM 58405U102 3129 68600 SH SOLE 68600 0 0 MEDTRONIC INC NOTE 1.500% 4/1 585055AL0 23680 24350000 PRN SOLE 24350000 0 0 MEDTRONIC INC NOTE 1.625% 4/1 585055AM8 54682 59091000 PRN SOLE 59091000 0 0 MEMC ELECTR MATLS INC COM 552715104 866 48630 SH SOLE 48630 0 0 MENTOR GRAPHICS CORP SDCV 6.250% 3/0 587200AF3 4943 6257000 PRN SOLE 6257000 0 0 MERCK & CO INC COM 589331107 252 9000 SH SOLE 9000 0 0 MERIX CORP NOTE 4.000% 5/1 590049AB8 3106 8875000 PRN SOLE 8875000 0 0 METLIFE INC COM 59156R108 3407 113532 SH SOLE 113532 0 0 MFA FINANCIAL INC COM 55272X102 98 14200 SH SOLE 14200 0 0 MICROCHIP TECHNOLOGY INC SDCV 2.125%12/1 595017AB0 9417 12452000 PRN SOLE 12452000 0 0 MICRON TECHNOLOGY INC NOTE 4.250%10/1 595112AJ2 9149 7836000 PRN SOLE 7836000 0 0 MICROSOFT CORP COM 594918104 17054 717441 SH SOLE 717441 0 0 MOLSON COORS BREWING CO NOTE 2.500% 7/3 60871RAA8 15173 14169000 PRN SOLE 14169000 0 0 MONSANTO CO NEW COM 61166W101 2074 27900 SH SOLE 27900 0 0 MORGAN STANLEY COM NEW 617446448 1705 59800 SH SOLE 59800 0 0 NABORS INDS INC NOTE 0.940% 5/1 629568AP1 1759 1881000 PRN SOLE 1881000 0 0 NASDAQ OMX GROUP INC NOTE 2.500% 8/1 631103AA6 14772 17905000 PRN SOLE 17905000 0 0 NATIONAL CITY CORP NOTE 4.000% 2/0 635405AW3 48324 48936000 PRN SOLE 48936000 0 0 NATIONAL OILWELL VARCO INC COM 637071101 2103 64400 SH SOLE 64400 0 0 NCR CORP NEW COM 62886E108 133 11281 SH SOLE 11281 0 0 NEWALLIANCE BANCSHARES INC COM 650203102 119 10400 SH SOLE 10400 0 0 NII HLDGS INC NOTE 3.125% 6/1 62913FAJ1 13086 16934000 PRN SOLE 16934000 0 0 NIKE INC CL B 654106103 1988 38400 SH SOLE 38400 0 0 NOKIA CORP SPONSORED ADR 654902204 9037 619766 SH SOLE 619766 0 0 NORFOLK SOUTHERN CORP COM 655844108 1795 47650 SH SOLE 47650 0 0 NORTHERN TR CORP COM 665859104 1003 18694 SH SOLE 18694 0 0 NORTHROP GRUMMAN CORP COM 666807102 1718 37611 SH SOLE 37611 0 0 NOVARTIS A G SPONSORED ADR 66987V109 28627 701826 SH SOLE 701826 0 0 NRG ENERGY INC COM NEW 629377508 1818 70029 SH SOLE 70029 0 0 NTT DOCOMO INC SPONS ADR 62942M201 1353 93000 SH SOLE 93000 0 0 NUCOR CORP COM 670346105 1240 27903 SH SOLE 27903 0 0 NVIDIA CORP COM 67066G104 2103 186300 SH SOLE 186300 0 0 ON SEMICONDUCTOR CORP NOTE 2.625%12/1 682189AG0 12299 13718000 PRN SOLE 13718000 0 0 OPENWAVE SYS INC COM NEW 683718308 80 35600 SH SOLE 35600 0 0 ORACLE CORP COM 68389X105 3183 148600 SH SOLE 148600 0 0 PARTNER COMMUNICATIONS CO LT ADR 70211M109 3466 202900 SH SOLE 202900 0 0 PEABODY ENERGY CORP SDCV 4.750%12/1 704549AG9 18223 25234000 PRN SOLE 25234000 0 0 PEPSICO INC COM 713448108 2600 47300 SH SOLE 47300 0 0 PFIZER INC COM 717081103 1703 113564 SH SOLE 113564 0 0 PHILIP MORRIS INTL INC COM 718172109 1747 40040 SH SOLE 40040 0 0 PNC FINL SVCS GROUP INC COM 693475105 2857 73606 SH SOLE 73606 0 0 POLO RALPH LAUREN CORP CL A 731572103 1140 21300 SH SOLE 21300 0 0 POTASH CORP SASK INC COM 73755L107 1424 15302 SH SOLE 15302 0 0 PRAXAIR INC COM 74005P104 3880 54600 SH SOLE 54600 0 0 PRECISION CASTPARTS CORP COM 740189105 2804 38400 SH SOLE 38400 0 0 PROCTER & GAMBLE CO COM 742718109 8156 159600 SH SOLE 159600 0 0 PRUDENTIAL FINL INC COM 744320102 1792 48159 SH SOLE 48159 0 0 QUADRAMED CORP COM NEW 74730W507 4128 592199 SH SOLE 592199 0 0 QUALCOMM INC COM 747525103 3828 84700 SH SOLE 84700 0 0 QUANTA SVCS INC COM 74762E102 261 11300 SH SOLE 11300 0 0 RADIAN GROUP INC COM 750236101 87 31818 SH SOLE 31818 0 0 RESEARCH IN MOTION LTD COM 760975102 2934 41300 SH SOLE 41300 0 0 ROCKWELL AUTOMATION INC COM 773903109 1411 43924 SH SOLE 43924 0 0 ROPER INDS INC NEW COM 776696106 240 5300 SH SOLE 5300 0 0 ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 37300 743183 SH SOLE 743183 0 0 RRI ENERGY INC COM 74971X107 131 26102 SH SOLE 26102 0 0 RYANAIR HLDGS PLC SPONSORED ADR 783513104 2263 79760 SH SOLE 79760 0 0 SBA COMMUNICATIONS CORP COM 78388J106 226 9200 SH SOLE 9200 0 0 SBA COMMUNICATIONS CORP NOTE 0.375%12/0 78388JAJ5 4717 4780000 PRN SOLE 4780000 0 0 SCHERING PLOUGH CORP PFD CONV MAN07 806605705 45436 200425 SH SOLE 200425 0 0 SCHERING PLOUGH CORP PFD CONV MAN07 806605705 9542 42090 PRN SOLE 42090 0 0 SCHLUMBERGER LTD COM 806857108 1755 32443 SH SOLE 32443 0 0 SCHLUMBERGER LTD DBCV 2.125% 6/0 806857AD0 65726 44319000 PRN SOLE 44319000 0 0 SHIRE PLC SPONSORED ADR 82481R106 8662 208830 SH SOLE 208830 0 0 SIEMENS A G SPONSORED ADR 826197501 4021 58120 SH SOLE 58120 0 0 SINCLAIR BROADCAST GROUP INC NOTE 3.000% 5/1 829226AW9 2550 3000000 PRN SOLE 3000000 0 0 SKECHERS U S A INC CL A 830566105 107 10924 SH SOLE 10924 0 0 SMITH INTL INC COM 832110100 922 35800 SH SOLE 35800 0 0 SONUS NETWORKS INC COM 835916107 70 43404 SH SOLE 43404 0 0 SOUTHERN CO COM 842587107 1069 34312 SH SOLE 34312 0 0 SPARTAN STORES INC NOTE 3.375% 5/1 846822AE4 8242 12370000 PRN SOLE 12370000 0 0 ST JUDE MED INC COM 790849103 2515 61200 SH SOLE 61200 0 0 ST MARY LD & EXPL CO NOTE 3.500% 4/0 792228AD0 17130 20307000 PRN SOLE 20307000 0 0 STAR GAS PARTNERS L P UNIT LTD PARTNR 85512C105 11512 3224648 SH SOLE 3224648 0 0 STATE STR CORP COM 857477103 1076 22800 SH SOLE 22800 0 0 STEC INC COM 784774101 209 8993 SH SOLE 8993 0 0 STEEL DYNAMICS INC NOTE 5.125% 6/1 858119AP5 11050 10000000 PRN SOLE 10000000 0 0 STEELCASE INC CL A 858155203 104 17840 SH SOLE 17840 0 0 STILLWATER MNG CO COM 86074Q102 79 13863 SH SOLE 13863 0 0 STONE ENERGY CORP COM 861642106 123 16612 SH SOLE 16612 0 0 SUNCOR ENERGY INC COM 867229106 2207 72721 SH SOLE 72721 0 0 SYBASE INC NOTE 1.750% 2/2 871130AB6 20396 15857000 PRN SOLE 15857000 0 0 TARGET CORP COM 87612E106 1781 45110 SH SOLE 45110 0 0 TERADYNE INC COM 880770102 173 25204 SH SOLE 25204 0 0 TERADYNE INC NOTE 4.500% 3/1 880770AE2 3609 2500000 PRN SOLE 2500000 0 0 TEVA PHARMACEUTICAL FIN CO B NOTE 1.750% 2/0 88165FAA0 45976 40732000 PRN SOLE 40732000 0 0 TEVA PHARMACEUTICAL FIN II L DBCV 0.500% 2/0 88164RAA5 12446 9429000 PRN SOLE 9429000 0 0 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 5290 107216 SH SOLE 107216 0 0 TEXTRON INC NOTE 4.500% 5/0 883203BN0 943 936000 PRN SOLE 936000 0 0 THERMO FISHER SCIENTIFIC INC COM 883556102 2903 71200 SH SOLE 71200 0 0 THOMAS WEISEL PARTNERS GRP I COM 884481102 107 17766 SH SOLE 17766 0 0 TIDEWATER INC COM 886423102 5080 118501 SH SOLE 118501 0 0 TJX COS INC NEW COM 872540109 3633 115475 SH SOLE 115475 0 0 TRANSOCEAN INC NOTE 1.500%12/1 893830AW9 55074 62204000 PRN SOLE 62204000 0 0 TRANSOCEAN INC NOTE 1.625%12/1 893830AU3 5306 5585000 PRN SOLE 5585000 0 0 TRANSOCEAN LTD REG SHS H8817H100 7138 96074 SH SOLE 96074 0 0 TRIUMPH GROUP INC NEW NOTE 2.625%10/0 896818AB7 18740 19098000 PRN SOLE 19098000 0 0 TTM TECHNOLOGIES INC NOTE 3.250% 5/1 87305RAC3 12675 17363000 PRN SOLE 17363000 0 0 TTM TECHNOLOGIES INC COM 87305R109 83 10400 SH SOLE 10400 0 0 UAL CORP NOTE 4.500% 6/3 902549AH7 5237 15634000 PRN SOLE 15634000 0 0 UNION PAC CORP COM 907818108 1905 36600 SH SOLE 36600 0 0 UNITED AUTO GROUP INC NOTE 3.500% 4/0 909440AH2 14798 15516000 PRN SOLE 15516000 0 0 UNITED PARCEL SERVICE INC CL B 911312106 1300 26000 SH SOLE 26000 0 0 UNITED RENTALS INC COM 911363109 159 24525 SH SOLE 24525 0 0 UNITED TECHNOLOGIES CORP COM 913017109 6016 115791 SH SOLE 115791 0 0 UNITEDHEALTH GROUP INC COM 91324P102 751 30073 SH SOLE 30073 0 0 US BANCORP DEL COM NEW 902973304 1545 86195 SH SOLE 86195 0 0 VANGUARD TAX-MANAGED FD EUROPE PAC ETF 921943858 24779 863375 SH SOLE 863375 0 0 VERISIGN INC SDCV 3.250% 8/1 92343EAD4 7956 11941000 PRN SOLE 11941000 0 0 VERIZON COMMUNICATIONS INC COM 92343V104 3045 99068 SH SOLE 99068 0 0 VISHAY INTERTECHNOLOGY INC COM 928298108 126 18625 SH SOLE 18625 0 0 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 35719 1832682 SH SOLE 1832682 0 0 VORNADO RLTY L P DBCV 3.625%11/1 929043AE7 21452 23604000 PRN SOLE 23604000 0 0 WAL MART STORES INC COM 931142103 5548 114542 SH SOLE 114542 0 0 WASTE CONNECTIONS INC NOTE 3.750% 4/0 941053AG5 18384 17916000 PRN SOLE 17916000 0 0 WATSON PHARMACEUTICALS INC DBCV 1.750% 3/1 942683AC7 5406 5481000 PRN SOLE 5481000 0 0 WEATHERFORD INTERNATIONAL LT REG H27013103 213 10900 SH SOLE 10900 0 0 WELLS FARGO & CO NEW COM 949746101 4428 182493 SH SOLE 182493 0 0 WELLS FARGO & CO NEW PERP PFD CNV A 949746804 2902 3697 PRN SOLE 3697 0 0 WELLS FARGO & CO NEW PERP PFD CNV A 949746804 19122 24360 SH SOLE 24360 0 0 WESCO INTL INC NOTE 1.750%11/1 95082PAG0 13740 16480000 PRN SOLE 16480000 0 0 WILLIAMS COS INC DEL COM 969457100 1533 98200 SH SOLE 98200 0 0 WYETH COM 983024100 3322 73200 SH SOLE 73200 0 0 XEROX CORP COM 984121103 67 10358 SH SOLE 10358 0 0 XTO ENERGY INC COM 98385X106 1805 47325 SH SOLE 47325 0 0
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