13F-HR 1 mackay4q2012.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: December 31, 2012 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: 1345 Avenue of the Americas, 43rd Floor New York, NY 10019 >>> 10105 13F File Number: 028-00046 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 January 17, 2013 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: 5 Form 13F Information Table Entry Total: 139 Form 13F Information Table Value Total: $2,006,741 (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. No. 13F File Number Name 01 028-06325 New York Life Investment Management LLC 02 028-02682 UBS Global Asset Management (Americas) Inc 03 028-12567 Mercer Global Investments, Inc. 04 028-06487 First Trust Advisors L.P. 05 028-14465 Mercer Trust Company 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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AFFILIATED MANAGERS GROUP NOTE 3.950% 8/1 008252AL2 8291 7453000 PRN SOLE 7453000 0 0 AKORN INC NOTE 3.500% 6/0 009728AB2 19324 11515000 PRN OTHER 01 3239000 8276000 0 ALCOA INC NOTE 5.250% 3/1 013817AT8 1581 1100000 PRN OTHER 01 984000 116000 0 ALLEGHENY TECHNOLOGIES INC NOTE 4.250% 6/0 01741RAD4 45421 41540000 PRN OTHER 01 20023000 21233000 284000 ALPHA NATURAL RESOURCES INC NOTE 2.375% 4/1 02076XAA0 346 371000 PRN OTHER 01 0 371000 0 ALZA CORP SDCV 7/2 02261WAB5 7638 7605000 PRN SOLE 7605000 0 0 AMGEN INC NOTE 0.375% 2/0 031162AQ3 50393 44854000 PRN OTHER 01 27473000 17087000 294000 ANIXTER INTL INC NOTE 1.000% 2/1 035290AJ4 17724 15480000 PRN OTHER 01 4796000 10539000 145000 APACHE CORP PFD CONV SER D 037411808 62962 1377717 SH OTHER 01 573888 792136 11693 APOLLO INVT CORP NOTE 5.750% 1/1 03761UAE6 14277 13728000 PRN SOLE 13728000 0 0 ARCELORMITTAL SA LUXEMBOURG NOTE 5.000% 5/1 03938LAK0 3374 3231000 PRN OTHER 01 2614000 617000 0 ARCHER DANIELS MIDLAND CO NOTE 0.875% 2/1 039483AW2 3024 3007000 PRN SOLE 3007000 0 0 ARES CAP CORP NOTE 5.750% 2/0 04010LAB9 183 170000 PRN SOLE 170000 0 0 ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 1121 1488000 PRN OTHER 01 283000 1205000 0 AVIS BUDGET GROUP NOTE 3.500%10/0 053774AB1 9883 7217000 PRN OTHER 01 6929000 3000 285000 AVIS BUDGET GROUP NOTE 3.500%10/0 053774AB1 276 201000 PRN SOLE 201000 0 0 BAKER HUGHES INC COM 057224107 8209 201000 SH OTHER 01 1100 199900 0 BANK OF AMERICA CORPORATION 7.25%CNV PFD L 060505682 24448 21540 SH OTHER 01 19743 1188 609 BIOMARIN PHARMACEUTICAL INC NOTE 1.875% 4/2 09061GAD3 26613 10774000 PRN OTHER 01 5723000 4902000 149000 BLACKROCK FLA MUN 2020 TERM COM SHS 09250M109 830 53100 SH SOLE 53100 0 0 BLACKROCK MUNIYIELD CALI QLT COM 09254N103 1299 79040 SH OTHER 01 63230 15810 0 BOSTON PPTYS LTD PARTNERSHIP NOTE 3.750% 5/1 10112RAG9 12976 11857000 PRN SOLE 11857000 0 0 BOTTOMLINE TECH DEL INC NOTE 1.500%12/0 101388AA4 3329 2984000 PRN OTHER 01 355000 2629000 0 CHART INDS INC NOTE 2.000% 8/0 16115QAC4 21777 17622000 PRN OTHER 01 8110000 9370000 142000 CHESAPEAKE ENERGY CORP NOTE 2.500% 5/1 165167BZ9 244 270000 PRN SOLE 270000 0 0 CIENA CORP NOTE 0.875% 6/1 171779AE1 4269 4953000 PRN OTHER 01 4767000 2000 184000 CIT GROUP INC COM NEW 125581801 8037 208001 SH OTHER 01 03 05 117278 90723 0 CITIGROUP INC COM NEW 172967424 29048 734289 SH OTHER 01 04 05 147196 587093 0 COINSTAR INC NOTE 4.000% 9/0 19259PAF9 16173 11400000 PRN OTHER 01 4428000 6812000 160000 CONCHO RES INC COM 20605P101 16918 210000 SH OTHER 01 13700 196300 0 CONTINENTAL AIRLS INC NOTE 4.500% 1/1 210795PU8 12249 8462000 PRN OTHER 01 2134000 6328000 0 CONTINENTAL RESOURCES INC COM 212015101 16535 225000 SH OTHER 01 14250 210750 0 COSTCO WHSL CORP NEW COM 22160K105 2914 29498 SH OTHER 01 0 29498 0 COVANTA HLDG CORP NOTE 3.250% 6/0 22282EAC6 38123 31457000 PRN OTHER 01 13325000 17849000 283000 DANAHER CORP DEL NOTE 1/2 235851AF9 54803 33647000 PRN OTHER 01 18231000 15116000 300000 DYNEGY INC NEW DEL COM 26817R108 251 13120 SH OTHER 01 0 13120 0 E M C CORP MASS NOTE 1.750%12/0 268648AM4 55787 34938000 PRN OTHER 01 19476000 15153000 309000 ENSCO PLC SHS CLASS A G3157S106 2786 47000 SH OTHER 01 0 47000 0 FORD MTR CO DEL COM PAR $0.01 345370860 26023 2009500 SH OTHER 01 04 325000 1684500 0 FORD MTR CO DEL NOTE 4.250%11/1 345370CN8 5409 3402000 PRN OTHER 01 2994000 408000 0 FOREST OIL CORP COM PAR $0.01 346091705 181 27100 SH OTHER 01 900 26200 0 GENCORP INC SDCV 4.062%12/3 368682AN0 6427 5215000 PRN OTHER 01 0 5215000 0 GENERAL MTRS CO COM 37045V100 38294 1328280 SH OTHER 01 02 03 04 940146 388134 0 GENERAL MTRS CO JR PFD CNV SRB 37045V209 24842 562924 SH OTHER 01 207799 351740 3385 GILEAD SCIENCES INC NOTE 1.000% 5/0 375558AN3 64955 39616000 PRN OTHER 01 21753000 17420000 443000 GOLDCORP INC NEW COM 380956409 36700 1000000 SH OTHER 01 42800 957200 0 GOODYEAR TIRE & RUBR CO PFD CONV 382550309 16389 347547 SH OTHER 01 170860 172054 4633 HALLIBURTON CO COM 406216101 6766 195042 SH OTHER 01 8324 186718 0 HARTFORD FINL SVCS GROUP INC DEP CONV PFD 416515708 9041 437811 SH OTHER 01 212963 218738 6110 HELIX ENERGY SOLUTIONS GRP I NOTE 3.250% 3/1 42330PAG2 21064 17785000 PRN OTHER 01 4920000 12865000 0 HERTZ GLOBAL HOLDINGS INC NOTE 5.250% 6/0 42805TAA3 13421 6599000 PRN OTHER 01 2073000 4526000 0 HOLOGIC INC DEBT 2.000% 3/0 436440AC5 23108 23225000 PRN OTHER 01 9652000 13239000 334000 HORNBECK OFFSHORE SVCS INC N FRNT 1.625%11/1 440543AE6 4358 4315000 PRN OTHER 01 4159000 2000 154000 ICAHN ENTERPRISES LP/CORP FRNT 8/1 451102AB3 89698 89030000 PRN OTHER 01 03 38285000 50745000 0 INSULET CORP NOTE 3.750% 6/1 45784PAC5 13463 12344000 PRN OTHER 01 1702000 10642000 0 INTEL CORP SDCV 2.950%12/1 458140AD2 3947 3807000 PRN OTHER 01 3661000 2000 144000 INTEL CORP SDCV 2.950%12/1 458140AD2 13047 12523000 PRN SOLE 12523000 0 0 INTEL CORP SDCV 3.250% 8/0 458140AF7 441 376000 PRN OTHER 01 376000 0 0 INTEL CORP SDCV 3.250% 8/0 458140AF7 55 47000 PRN SOLE 47000 0 0 INTERMUNE INC NOTE 2.500% 9/1 45884XAE3 6182 7856000 PRN OTHER 01 3661000 4195000 0 INTERNATIONAL GAME TECHNOLOG COM 459902102 1312 92600 SH OTHER 01 1700 90900 0 INTERNATIONAL GAME TECHNOLOG NOTE 3.250% 5/0 459902AQ5 25991 24833000 PRN OTHER 01 13127000 11413000 293000 ION GEOPHYSICAL CORP COM 462044108 5800 891000 SH OTHER 01 0 891000 0 ISHARES TR S&P NTL AMTFREE 464288414 7409 66963 SH OTHER 01 0 66963 0 JANUS CAP GROUP INC NOTE 3.250% 7/1 47102XAG0 10707 10258000 PRN OTHER 01 7219000 3039000 0 L-3 COMMUNICATIONS CORP DEBT 3.000% 8/0 502413AW7 7825 7728000 PRN OTHER 01 7434000 3000 291000 L-3 COMMUNICATIONS CORP DEBT 3.000% 8/0 502413AW7 5064 4977000 PRN SOLE 4977000 0 0 LAM RESEARCH CORP NOTE 0.500% 5/1 512807AJ7 9103 9409000 PRN SOLE 9409000 0 0 LAM RESEARCH CORP NOTE 1.250% 5/1 512807AL2 5035 5070000 PRN OTHER 01 2510000 2560000 0 LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 8609 150792 SH OTHER 01 112724 38068 0 MARKET VECTORS ETF TR HG YLD MUN ETF 57060U878 7553 230000 SH OTHER 01 100000 130000 0 MEDIVATION INC NOTE 2.625% 4/0 58501NAA9 15885 12380000 PRN OTHER 01 120000 12260000 0 MEDTRONIC INC NOTE 1.625% 4/1 585055AM8 4359 4345000 PRN OTHER 01 4182000 2000 161000 MEDTRONIC INC NOTE 1.625% 4/1 585055AM8 11301 11252000 PRN SOLE 11252000 0 0 MENTOR GRAPHICS CORP SDCV 4.000% 4/0 587200AK2 4735 4011000 PRN OTHER 01 0 4011000 0 MERCK & CO INC NEW COM 58933Y105 13900 339532 SH OTHER 01 12062 327470 0 METLIFE INC UNIT 99/99/9999 59156R116 38530 866409 SH OTHER 01 412181 446170 8058 MGM RESORTS INTERNATIONAL COM 552953101 1942 166800 SH OTHER 01 0 166800 0 MGM RESORTS INTERNATIONAL NOTE 4.250% 4/1 55303QAE0 15850 14953000 PRN OTHER 01 5453000 9342000 158000 MICROCHIP TECHNOLOGY INC COM 595017104 2982 91500 SH OTHER 01 0 91500 0 MICROCHIP TECHNOLOGY INC SDCV 2.125%12/1 595017AB0 20156 15902000 PRN OTHER 01 4084000 11818000 0 MICRON TECHNOLOGY INC NOTE 1.500% 8/0 595112AQ6 1 1000 PRN OTHER 01 1000 0 0 MICRON TECHNOLOGY INC NOTE 1.500% 8/0 595112AQ6 1643 1768000 PRN SOLE 1768000 0 0 MOLSON COORS BREWING CO NOTE 2.500% 7/3 60871RAA8 7421 7343000 PRN OTHER 01 7102000 3000 238000 MOLSON COORS BREWING CO NOTE 2.500% 7/3 60871RAA8 12321 12131000 PRN SOLE 12131000 0 0 MYLAN INC NOTE 3.750% 9/1 628530AJ6 30055 14116000 PRN OTHER 01 6881000 7112000 123000 NEWMONT MINING CORP NOTE 1.250% 7/1 651639AH9 8226 6960000 PRN SOLE 6960000 0 0 NEWMONT MINING CORP NOTE 1.250% 7/1 651639AH9 4362 3706000 PRN OTHER 01 3567000 2000 137000 NEWMONT MINING CORP NOTE 1.625% 7/1 651639AJ5 527 404000 PRN SOLE 404000 0 0 NEWPARK RES INC NOTE 4.000%10/0 651718AC2 4027 3781000 PRN OTHER 01 3631000 2000 148000 NOVELLUS SYS INC NOTE 2.625% 5/1 670008AD3 17341 13873000 PRN OTHER 01 4429000 9444000 0 NUANCE COMMUNICATIONS INC DBCV 2.750% 8/1 67020YAB6 5830 4430000 PRN OTHER 01 4250000 48000 132000 NUANCE COMMUNICATIONS INC NOTE 2.750%11/0 67020YAF7 11697 10725000 PRN OTHER 01 61000 10664000 0 NUVEEN CA MUN MKT OPPORTUNT COM 67062U107 736 45065 SH OTHER 01 38350 6715 0 NUVEEN MICH QUALITY INCOME M COM 670979103 1728 112896 SH OTHER 01 89748 23148 0 NUVEEN N Y PREM INCOME MUN F COM 67101R107 257 16278 SH OTHER 01 0 16278 0 NUVEEN PA INVT QUALITY MUN F COM 670972108 1286 82233 SH OTHER 01 75027 7206 0 NUVEEN PA PREM INCOME MUN FD COM 67061F101 1665 110423 SH OTHER 01 90423 20000 0 OMNICARE CAP TR II PFD B TR 4.00% 68214Q200 11346 236040 SH OTHER 01 18490 217550 0 OMNICARE INC NOTE 3.750%12/1 681904AN8 24826 16812000 PRN OTHER 01 9248000 7303000 261000 OMNICOM GROUP INC NOTE 7/0 681919AT3 2521 2266000 PRN SOLE 2266000 0 0 OMNICOM GROUP INC NOTE 7/0 682134AA9 9021 8426000 PRN OTHER 01 8116000 3000 307000 OMNICOM GROUP INC NOTE 7/0 682134AA9 16100 14968000 PRN SOLE 14968000 0 0 ON SEMICONDUCTOR CORP NOTE 2.625%12/1 682189AH8 21163 19807000 PRN OTHER 01 12323000 7168000 316000 PEABODY ENERGY CORP SDCV 4.750%12/1 704549AG9 43474 44964000 PRN OTHER 01 21274000 23252000 438000 PPL CORP UNIT 99/99/9999 69351T601 16815 320808 SH OTHER 01 154340 160668 5800 QLIK TECHNOLOGIES INC COM 74733T105 2824 130000 SH OTHER 01 0 130000 0 QUANTUM CORP NOTE 3.500%11/1 747906AG0 2364 2575000 PRN OTHER 01 0 2575000 0 SALIX PHARMACEUTICALS INC NOTE 2.750% 5/1 795435AC0 25465 22199000 PRN OTHER 01 6898000 15036000 265000 SANDISK CORP NOTE 1.500% 8/1 80004CAD3 18566 15955000 PRN OTHER 01 7643000 8155000 157000 SBA COMMUNICATIONS CORP NOTE 1.875% 5/0 78388JAN6 6500 3814000 PRN OTHER 01 1224000 2590000 0 SBA COMMUNICATIONS CORP NOTE 4.000%10/0 78388JAM8 30973 13082000 PRN OTHER 01 6553000 6360000 169000 SCHLUMBERGER LTD COM 806857108 1524 22000 SH OTHER 01 0 22000 0 SOTHEBYS NOTE 3.125% 6/1 835898AC1 8142 7500000 PRN OTHER 01 0 7500000 0 SPDR SERIES TRUST BRC CNV SECS ETF 78464A359 852 21146 SH OTHER 01 21146 0 0 SPDR SERIES TRUST NUV HGHYLD MUN 78464A284 1044 18000 SH OTHER 01 0 18000 0 STANDARD PAC CORP NEW NOTE 1.250% 8/0 85375CBC4 106 90000 PRN SOLE 90000 0 0 STANLEY BLACK & DECKER INC UNIT 99/99/9999 854502309 51839 418304 SH OTHER 01 200338 215014 2952 STEEL DYNAMICS INC NOTE 5.125% 6/1 858119AP5 10612 9743000 PRN OTHER 01 9201000 261000 281000 SYMANTEC CORP COM 871503108 6512 346200 SH OTHER 01 0 346200 0 SYMANTEC CORP NOTE 1.000% 6/1 871503AF5 6151 5724000 PRN OTHER 01 5034000 547000 143000 TELEFLEX INC NOTE 3.875% 8/0 879369AA4 39529 30763000 PRN OTHER 01 14543000 15926000 294000 TEVA PHARMACEUTICAL FIN LLC DBCV 0.250% 2/0 88163VAE9 49759 48526000 PRN OTHER 01 24317000 23963000 246000 TEXTRON INC NOTE 4.500% 5/0 883203BN0 8950 4715000 PRN OTHER 01 468000 4247000 0 TIBCO SOFTWARE INC COM 88632Q103 4005 181948 SH OTHER 01 0 181948 0 TIDEWATER INC COM 886423102 2243 50200 SH OTHER 01 600 49600 0 TTM TECHNOLOGIES INC COM 87305R109 400 43453 SH OTHER 01 0 43453 0 TTM TECHNOLOGIES INC NOTE 3.250% 5/1 87305RAC3 11049 10920000 PRN OTHER 01 9923000 846000 151000 U S CONCRETE INC COM NEW 90333L201 12950 1430979 SH OTHER 01 02 03 05 1141443 289536 0 UNITED STATES STL CORP NEW NOTE 4.000% 5/1 912909AE8 1693 1563000 PRN OTHER 01 1191000 372000 0 UNITED TECHNOLOGIES CORP UNIT 99/99/9999 913017117 44884 809460 SH OTHER 01 376305 426973 6182 VALEANT PHARMACEUTICALS INTL COM 91911K102 5977 100000 SH OTHER 01 0 100000 0 VERISIGN INC SDCV 3.250% 8/1 92343EAD4 29100 22996000 PRN OTHER 01 8371000 14473000 152000 WABASH NATL CORP NOTE 3.375% 5/0 929566AH0 21014 18909000 PRN OTHER 01 5902000 12847000 160000 WELLS FARGO & CO NEW PERP PFD CNV A 949746804 16763 13684 SH OTHER 01 12370 1202 112 WESCO INTL INC DBCV 6.000% 9/1 95082PAH8 22404 9033000 PRN OTHER 01 4862000 4020000 151000 WHITING PETE CORP NEW COM 966387102 16264 375000 SH OTHER 01 24600 350400 0 XILINX INC NOTE 2.625% 6/1 983919AF8 27221 19950000 PRN OTHER 01 11662000 8021000 267000 XPO LOGISTICS INC NOTE 4.500%10/0 983793AA8 13378 11219000 PRN OTHER 01 4863000 6192000 164000