UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act File Number 811-04550
THE MAINSTAY FUNDS
(Exact name of Registrant as specified in charter)
51 Madison Avenue, New York, NY 10010
(Address of principal executive offices) (Zip code)
J. Kevin Gao, Esq.
30 Hudson Street
Jersey City, New Jersey 07302
(Name and address of agent for service)
Registrant’s telephone number, including area code: (212) 576-7000
Date of fiscal year end: October 31
Date of reporting period: April 30, 2022
Item 1. | Reports to Stockholders. |
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date1 | Six Months2 | One Year | Five Years | Ten Years | Gross Expense Ratio3 | |
Class A Shares | Maximum 4.5% Initial Sales Charge | With sales charges | 6/1/1998 | -18.42% | -18.78% | -1.71% | 1.26% | 1.32% |
Excluding sales charges | -14.58 | -14.96 | -0.80 | 1.73 | 1.32 | |||
Investor Class Shares4 | Maximum 4% Initial Sales Charge | With sales charges | 2/28/2008 | -18.19 | -18.71 | -2.01 | 1.03 | 1.70 |
Excluding sales charges | -14.79 | -15.33 | -1.10 | 1.49 | 1.70 | |||
Class B Shares5 | Maximum 5% CDSC | With sales charges | 6/1/1998 | -19.21 | -19.99 | -2.16 | 0.74 | 2.45 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -15.08 | -15.96 | -1.83 | 0.74 | 2.45 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/1/1998 | -15.98 | -16.75 | -1.83 | 0.73 | 2.45 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -15.16 | -15.94 | -1.83 | 0.73 | 2.45 | ||
Class I Shares | No Sales Charge | 8/31/2007 | -14.52 | -14.77 | -0.51 | 2.00 | 1.06 |
1. | Prior to February 28, 2017, the Fund's primary investment strategies were changed. Effective June 21, 2019, the Fund replaced its prior subadvisor and modified its investment objective and principal investment strategies. The performance in the graph and table prior to those dates reflects its prior subadvisor's, investment objective and principal investment strategies. |
2. | Not annualized. |
3. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
4. | Prior to June 30, 2020, the maximum initial sales charge was 4.5%, which is reflected in the applicable average annual total return figures shown. |
5. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
JPMorgan EMBI Global Diversified Index2 | -15.45% | -14.51% | 0.23% | 2.98% |
Morningstar Emerging Markets Bond Category Average3 | -12.89 | -13.09 | 0.04 | 1.08 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The JPMorgan EMBI Global Diversified Index is the Fund’s primary broad-based securities market index for comparison purposes. The JPMorgan EMBI Global Diversified Index is a market-capitalization weighted, total return index tracking the traded market for U.S. dollar-denominated Brady Bonds, Eurobonds, traded loans and local market debt instruments issued by sovereign and quasi-sovereign entities. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Morningstar Emerging Markets Bond Category Average is representative of funds that invest more than 65% of their assets in foreign bonds from developing countries. The largest portion of the emerging-markets bond market comes from Latin America, followed by Eastern Europe. Africa, the Middle East, and Asia make up the rest. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay Candriam Emerging Markets Debt Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $854.20 | $5.29 | $1,019.09 | $5.76 | 1.15% |
Investor Class Shares | $1,000.00 | $852.10 | $7.12 | $1,017.11 | $7.75 | 1.55% |
Class B Shares | $1,000.00 | $849.20 | $10.55 | $1,013.39 | $11.48 | 2.30% |
Class C Shares | $1,000.00 | $848.40 | $10.54 | $1,013.39 | $11.48 | 2.30% |
Class I Shares | $1,000.00 | $854.80 | $3.91 | $1,020.58 | $4.26 | 0.85% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Country Composition as of April 30, 2022 (Unaudited)
Mexico | 5.6% |
Oman | 4.5 |
Dominican Republic | 4.3 |
South Africa | 4.3 |
Indonesia | 4.3 |
Brazil | 3.7 |
Qatar | 3.4 |
Nigeria | 3.2 |
Egypt | 2.9 |
United Arab Emirates | 2.6 |
Bahrain | 2.5 |
Ecuador | 2.4 |
Colombia | 2.3 |
Chile | 2.1 |
Hungary | 2.0 |
Saudi Arabia | 2.0 |
Romania | 2.0 |
Angola | 1.8 |
United States | 1.8 |
Ghana | 1.8 |
Argentina | 1.8 |
Azerbaijan | 1.7 |
Panama | 1.5 |
Republic Of Serbia | 1.5 |
Kenya | 1.5 |
Bahamas | 1.4 |
Cote D'Ivoire | 1.4 |
Iraq | 1.4% |
Ukraine | 1.3 |
Gabon | 1.3 |
Croatia | 1.3 |
Georgia | 1.2 |
Tunisia | 1.1 |
Venezuela | 1.0 |
Philippines | 1.0 |
Peru | 0.9 |
Guatemala | 0.9 |
Costa Rica | 0.8 |
Paraguay | 0.7 |
Zambia | 0.7 |
Mongolia | 0.7 |
Mozambique | 0.6 |
Pakistan | 0.6 |
Senegal | 0.5 |
Uruguay | 0.5 |
El Salvador | 0.5 |
India | 0.5 |
Armenia | 0.5 |
Morocco | 0.5 |
Jamaica | 0.5 |
Lebanon | 0.3 |
Other Assets, Less Liabilities | 10.4 |
100.0% |
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | Oman Government Bond, 4.875%-7.00%, due 2/1/25–1/25/51 |
2. | Dominican Republic Government Bond, 4.50%-6.85%, due 1/27/25–1/30/60 |
3. | South Africa Government Bond, 4.30%-7.30%, due 9/16/25–4/20/52 |
4. | Nigeria Government Bond, 6.50%-8.375%, due 11/21/25–11/28/47 |
5. | Brazil Government Bond, 2.625%-4.75%, due 1/5/23–1/14/50 |
6. | Egypt Government Bond, 5.875%-8.70%, due 2/16/31–2/16/61 |
7. | Mexico Government Bond, 2.659%-3.771%, due 5/24/31–4/19/71 |
8. | Ecuador Government Bond, (zero coupon)-1.00%, due 7/31/30–7/31/40 |
9. | Indonesia Government Bond, 3.55%-6.625%, due 3/31/32–3/31/52 |
10. | Chile Government Bond, 2.55%-4.34%, due 7/27/33–1/22/61 |
8 | MainStay Candriam Emerging Markets Debt Fund |
10 | MainStay Candriam Emerging Markets Debt Fund |
12 | MainStay Candriam Emerging Markets Debt Fund |
Principal Amount | Value | |
Long-Term Bonds 87.8% | ||
Corporate Bonds 5.7% | ||
Brazil 0.7% | ||
Braskem Netherlands Finance BV | ||
Series Reg S | ||
4.50%, due 1/31/30 (a) | $ 600,000 | $ 540,804 |
Georgia 1.2% | ||
Georgian Railway JSC | ||
Series Reg S | ||
4.00%, due 6/17/28 | 1,150,000 | 976,120 |
Mexico 1.2% | ||
Cemex SAB de CV | ||
Series Reg S | ||
3.875%, due 7/11/31 | 800,000 | 678,568 |
Series Reg S | ||
5.20%, due 9/17/30 | 300,000 | 282,750 |
961,318 | ||
Saudi Arabia 0.6% | ||
SA Global Sukuk Ltd. | ||
Series Reg S | ||
1.602%, due 6/17/26 | 200,000 | 184,229 |
Series Reg S | ||
2.694%, due 6/17/31 | 350,000 | 314,723 |
498,952 | ||
South Africa 0.6% | ||
Stillwater Mining Co. | ||
Series Reg S | ||
4.00%, due 11/16/26 | 500,000 | 458,500 |
United Arab Emirates 1.2% | ||
DP World Crescent Ltd. | ||
Series Reg S | ||
3.875%, due 7/18/29 | 400,000 | 385,329 |
MDGH GMTN RSC Ltd. | ||
Series Reg S | ||
3.00%, due 3/28/27 | 290,000 | 281,096 |
Series Reg S | ||
3.375%, due 3/28/32 | 321,000 | 305,467 |
971,892 |
Principal Amount | Value | |
Venezuela 0.2% | ||
Petroleos de Venezuela SA | ||
5.375%, due 4/12/27 (b)(c)(d) | $ 3,000,000 | $ 193,500 |
Total Corporate Bonds (Cost $6,139,500) | 4,601,086 | |
Foreign Government Bonds 82.1% | ||
Angola 1.8% | ||
Angola Government Bond | ||
Series Reg S | ||
8.00%, due 11/26/29 | 500,000 | 467,110 |
Series Reg S | ||
8.75%, due 4/14/32 | 850,000 | 803,887 |
Series Reg S | ||
9.375%, due 5/8/48 | 200,000 | 180,120 |
1,451,117 | ||
Argentina 1.8% | ||
Buenos Aires Government Bond (e) | ||
Series Reg S | ||
3.90%, due 9/1/37 | 2,311,131 | 953,365 |
Series Reg S | ||
3.90%, due 9/1/37 | 1,088,869 | 449,169 |
1,402,534 | ||
Armenia 0.5% | ||
Armenia Government Bond | ||
Series Reg S | ||
3.95%, due 9/26/29 | 500,000 | 397,500 |
Azerbaijan 1.7% | ||
Azerbaijan Government Bond | ||
Series Reg S | ||
3.50%, due 9/1/32 | 600,000 | 530,104 |
Southern Gas Corridor CJSC | ||
Series Reg S | ||
6.875%, due 3/24/26 | 400,000 | 426,183 |
State Oil Co. of the Azerbaijan Republic | ||
Series Reg S | ||
6.95%, due 3/18/30 | 400,000 | 431,520 |
1,387,807 | ||
Bahamas 1.4% | ||
Bahamas Government Bond | ||
Series Reg S | ||
6.00%, due 11/21/28 | 1,600,000 | 1,155,426 |
Principal Amount | Value | |
Foreign Government Bonds (continued) | ||
Bahrain 2.5% | ||
Bahrain Government Bond | ||
Series Reg S | ||
5.25%, due 1/25/33 | $ 100,000 | $ 88,078 |
Series Reg S | ||
5.25%, due 1/25/33 | 300,000 | 264,233 |
Series Reg S | ||
6.25%, due 1/25/51 | 700,000 | 578,331 |
Series Reg S | ||
6.25%, due 1/25/51 | 300,000 | 247,856 |
CBB International Sukuk Programme Co. WLL | ||
Series Reg S | ||
3.875%, due 5/18/29 | 900,000 | 839,261 |
2,017,759 | ||
Brazil 3.0% | ||
Brazil Government Bond | ||
2.625%, due 1/5/23 | 850,000 | 850,357 |
4.50%, due 5/30/29 (a) | 1,000,000 | 947,000 |
4.75%, due 1/14/50 | 800,000 | 603,952 |
2,401,309 | ||
Chile 2.1% | ||
Chile Government Bond | ||
2.55%, due 7/27/33 | 700,000 | 583,492 |
3.10%, due 1/22/61 | 500,000 | 345,305 |
3.50%, due 4/15/53 (a) | 550,000 | 425,310 |
4.34%, due 3/7/42 | 361,000 | 328,636 |
1,682,743 | ||
Colombia 2.3% | ||
Colombia Government Bond | ||
4.125%, due 2/22/42 | 250,000 | 174,625 |
5.00%, due 6/15/45 | 500,000 | 371,250 |
6.125%, due 1/18/41 | 500,000 | 441,255 |
Ecopetrol SA | ||
4.625%, due 11/2/31 | 1,000,000 | 835,500 |
1,822,630 | ||
Costa Rica 0.8% | ||
Costa Rica Government Bond | ||
Series Reg S | ||
6.125%, due 2/19/31 | 250,000 | 248,196 |
Series Reg S | ||
7.00%, due 4/4/44 | 400,000 | 380,568 |
628,764 |
Principal Amount | Value | |
Cote D'Ivoire 1.4% | ||
Ivory Coast Government Bond | ||
Series Reg S | ||
5.75%, due 12/31/32 (e) | $ 919,723 | $ 874,804 |
Series Reg S | ||
6.125%, due 6/15/33 | 300,000 | 275,340 |
1,150,144 | ||
Croatia 1.3% | ||
Croatia Government Bond | ||
Series Reg S | ||
5.50%, due 4/4/23 | 1,000,000 | 1,020,836 |
Dominican Republic 4.3% | ||
Dominican Republic Government Bond | ||
Series Reg S | ||
4.50%, due 1/30/30 | 400,000 | 344,277 |
Series Reg S | ||
4.875%, due 9/23/32 | 600,000 | 503,897 |
Series Reg S | ||
5.50%, due 1/27/25 | 500,000 | 511,757 |
Series Reg S | ||
5.50%, due 2/22/29 | 500,000 | 467,250 |
Series Reg S | ||
5.875%, due 1/30/60 | 500,000 | 378,944 |
Series Reg S | ||
5.95%, due 1/25/27 | 250,000 | 250,429 |
Series Reg S | ||
5.95%, due 1/25/27 (a) | 750,000 | 751,289 |
Series Reg S | ||
6.85%, due 1/27/45 | 250,000 | 224,886 |
3,432,729 | ||
Ecuador 2.4% | ||
Ecuador Government Bond | ||
Series Reg S | ||
(zero coupon), due 7/31/30 | 208,496 | 113,143 |
Series Reg S | ||
0.50%, due 7/31/40 (e) | 1,200,000 | 651,624 |
Series Reg S | ||
1.00%, due 7/31/35 (e) | 1,850,000 | 1,156,777 |
1,921,544 | ||
Egypt 2.9% | ||
Egypt Government Bond | ||
Series Reg S | ||
5.875%, due 2/16/31 | 250,000 | 182,750 |
Series Reg S | ||
5.875%, due 2/16/31 | 750,000 | 548,250 |
14 | MainStay Candriam Emerging Markets Debt Fund |
Principal Amount | Value | |
Foreign Government Bonds (continued) | ||
Egypt (continued) | ||
Egypt Government Bond (continued) | ||
Series Reg S | ||
6.875%, due 4/30/40 | $ 300,000 | $ 213,172 |
Series Reg S | ||
7.30%, due 9/30/33 | 500,000 | 374,200 |
Series Reg S | ||
7.50%, due 2/16/61 (a) | 600,000 | 400,082 |
Series Reg S | ||
8.70%, due 3/1/49 | 800,000 | 584,000 |
2,302,454 | ||
El Salvador 0.5% | ||
El Salvador Government Bond | ||
Series Reg S | ||
7.625%, due 2/1/41 | 1,100,000 | 413,559 |
Gabon 1.3% | ||
Gabon Government Bond | ||
Series Reg S | ||
6.95%, due 6/16/25 | 350,000 | 347,480 |
Series Reg S | ||
7.00%, due 11/24/31 | 750,000 | 679,237 |
1,026,717 | ||
Ghana 1.8% | ||
Ghana Government Bond | ||
Series Reg S | ||
7.75%, due 4/7/29 | 1,300,000 | 822,250 |
Series Reg S | ||
7.875%, due 2/11/35 | 500,000 | 293,750 |
Series Reg S | ||
8.625%, due 4/7/34 | 200,000 | 120,302 |
Series Reg S | ||
8.627%, due 6/16/49 | 300,000 | 172,500 |
1,408,802 | ||
Guatemala 0.9% | ||
Guatemala Government Bond | ||
Series Reg S | ||
4.90%, due 6/1/30 | 500,000 | 488,921 |
Series Reg S | ||
6.125%, due 6/1/50 | 200,000 | 190,948 |
679,869 |
Principal Amount | Value | |
Hungary 2.0% | ||
Hungary Government Bond | ||
Series Reg S | ||
2.125%, due 9/22/31 | $ 1,600,000 | $ 1,281,171 |
Series Reg S | ||
3.125%, due 9/21/51 | 500,000 | 344,598 |
1,625,769 | ||
India 0.5% | ||
Export-Import Bank of India | ||
Series Reg S | ||
2.25%, due 1/13/31 | 500,000 | 406,863 |
Indonesia 4.3% | ||
Indonesia Government Bond | ||
3.55%, due 3/31/32 | 600,000 | 569,024 |
4.30%, due 3/31/52 | 600,000 | 549,521 |
Series Reg S | ||
6.625%, due 2/17/37 | 500,000 | 575,402 |
Pertamina Persero PT | ||
Series Reg S | ||
3.65%, due 7/30/29 | 400,000 | 379,885 |
5.625%, due 5/20/43 (f) | 500,000 | 484,759 |
Perusahaan Penerbit SBSN Indonesia III | ||
Series Reg S | ||
3.75%, due 3/1/23 | 850,000 | 856,375 |
3,414,966 | ||
Iraq 1.4% | ||
Iraq Government Bond | ||
Series Reg S | ||
5.80%, due 1/15/28 | 525,000 | 506,761 |
Series Reg S | ||
6.752%, due 3/9/23 | 600,000 | 599,520 |
1,106,281 | ||
Jamaica 0.5% | ||
Jamaica Government Bond | ||
7.875%, due 7/28/45 | 300,000 | 368,616 |
Kenya 1.5% | ||
Kenya Government Bond | ||
Series Reg S | ||
6.875%, due 6/24/24 | 1,200,000 | 1,157,136 |
Lebanon 0.3% | ||
Lebanon Government Bond (b)(d) | ||
Series Reg S | ||
6.65%, due 4/22/24 | 1,200,000 | 142,572 |
Principal Amount | Value | |
Foreign Government Bonds (continued) | ||
Lebanon (continued) | ||
Lebanon Government Bond (b)(d) (continued) | ||
Series Reg S | ||
6.85%, due 3/23/27 | $ 1,000,000 | $ 114,500 |
257,072 | ||
Mexico 4.4% | ||
Comision Federal de Electricidad | ||
Series Reg S | ||
3.875%, due 7/26/33 | 500,000 | 401,407 |
Series Reg S | ||
4.677%, due 2/9/51 | 700,000 | 497,000 |
Series Reg S | ||
4.688%, due 5/15/29 | 416,000 | 384,185 |
Mexico Government Bond | ||
2.659%, due 5/24/31 | 1,277,000 | 1,070,024 |
3.50%, due 2/12/34 | 200,000 | 169,008 |
3.75%, due 4/19/71 | 1,000,000 | 687,000 |
3.771%, due 5/24/61 | 400,000 | 279,968 |
3,488,592 | ||
Mongolia 0.7% | ||
Mongolia Government Bond | ||
Series Reg S | ||
3.50%, due 7/7/27 | 200,000 | 172,026 |
Series Reg S | ||
4.45%, due 7/7/31 (a) | 200,000 | 169,949 |
Series Reg S | ||
5.625%, due 5/1/23 | 200,000 | 198,577 |
540,552 | ||
Morocco 0.5% | ||
OCP SA | ||
Series Reg S | ||
5.125%, due 6/23/51 | 500,000 | 386,380 |
Mozambique 0.6% | ||
Mozambique Government Bond | ||
Series Reg S | ||
5.00%, due 9/15/31 (e) | 550,000 | 475,008 |
Nigeria 3.2% | ||
Nigeria Government Bond | ||
6.50%, due 11/28/27 (f) | 500,000 | 443,125 |
Series Reg S | ||
7.625%, due 11/21/25 | 750,000 | 747,413 |
Principal Amount | Value | |
Nigeria (continued) | ||
Nigeria Government Bond (continued) | ||
Series Reg S | ||
7.625%, due 11/28/47 | $ 750,000 | $ 532,560 |
Series Reg S | ||
7.875%, due 2/16/32 | 600,000 | 502,500 |
Series Reg S | ||
8.375%, due 3/24/29 | 352,000 | 327,944 |
2,553,542 | ||
Oman 4.5% | ||
Oman Government Bond | ||
Series Reg S | ||
4.875%, due 2/1/25 | 400,000 | 401,596 |
Series Reg S | ||
4.875%, due 2/1/25 | 600,000 | 602,394 |
Series Reg S | ||
5.625%, due 1/17/28 | 500,000 | 500,700 |
Series Reg S | ||
6.25%, due 1/25/31 | 1,000,000 | 1,017,580 |
Series Reg S | ||
7.00%, due 1/25/51 | 200,000 | 192,100 |
Series Reg S | ||
7.00%, due 1/25/51 | 900,000 | 864,450 |
3,578,820 | ||
Pakistan 0.6% | ||
Pakistan Government Bond | ||
Series Reg S | ||
6.00%, due 4/8/26 | 300,000 | 244,620 |
Series Reg S | ||
7.375%, due 4/8/31 | 300,000 | 229,962 |
474,582 | ||
Panama 1.5% | ||
Aeropuerto Internacional de Tocumen SA | ||
Series Reg S | ||
5.125%, due 8/11/61 | 1,000,000 | 857,000 |
Panama Government Bond | ||
3.87%, due 7/23/60 | 500,000 | 372,085 |
1,229,085 | ||
Paraguay 0.7% | ||
Paraguay Government Bond | ||
Series Reg S | ||
2.739%, due 1/29/33 | 495,000 | 402,055 |
Series Reg S | ||
5.40%, due 3/30/50 | 200,000 | 177,278 |
579,333 |
16 | MainStay Candriam Emerging Markets Debt Fund |
Principal Amount | Value | |
Foreign Government Bonds (continued) | ||
Peru 0.9% | ||
Peruvian Government Bond | ||
3.00%, due 1/15/34 | $ 323,000 | $ 268,981 |
3.55%, due 3/10/51 | 600,000 | 465,846 |
734,827 | ||
Philippines 1.0% | ||
Philippine Government Bond | ||
3.229%, due 3/29/27 | 300,000 | 292,662 |
4.20%, due 3/29/47 | 500,000 | 464,868 |
757,530 | ||
Qatar 3.4% | ||
Qatar Energy | ||
Series Reg S | ||
2.25%, due 7/12/31 | 800,000 | 698,000 |
Qatar Government Bond | ||
Series Reg S | ||
3.40%, due 4/16/25 | 1,000,000 | 1,001,760 |
SoQ Sukuk A QSC | ||
Series Reg S | ||
3.241%, due 1/18/23 | 1,000,000 | 1,006,996 |
2,706,756 | ||
Republic Of Serbia 1.5% | ||
Serbia Government Bond | ||
Series Reg S | ||
2.125%, due 12/1/30 | 1,600,000 | 1,194,026 |
Romania 2.0% | ||
Romanian Government Bond | ||
3.00%, due 2/27/27 | 900,000 | 835,893 |
Series Reg S | ||
3.00%, due 2/14/31 | 300,000 | 255,583 |
Series Reg S | ||
4.00%, due 2/14/51 | 400,000 | 303,600 |
Series Reg S | ||
5.125%, due 6/15/48 | 200,000 | 181,280 |
1,576,356 | ||
Saudi Arabia 1.4% | ||
Saudi Arabian Oil Co. | ||
Series Reg S | ||
1.625%, due 11/24/25 | 250,000 | 232,640 |
Series Reg S | ||
2.25%, due 11/24/30 | 700,000 | 609,875 |
Principal Amount | Value | |
Saudi Arabia (continued) | ||
Saudi Arabian Oil Co. (continued) | ||
Series Reg S | ||
2.25%, due 11/24/30 | $ 300,000 | $ 261,375 |
1,103,890 | ||
Senegal 0.5% | ||
Senegal Government Bond | ||
Series Reg S | ||
6.25%, due 5/23/33 | 250,000 | 223,313 |
Series Reg S | ||
6.75%, due 3/13/48 | 250,000 | 198,875 |
422,188 | ||
South Africa 3.7% | ||
South Africa Government Bond | ||
4.30%, due 10/12/28 | 700,000 | 637,882 |
4.85%, due 9/30/29 | 500,000 | 459,910 |
5.875%, due 9/16/25 | 400,000 | 412,400 |
5.875%, due 4/20/32 | 600,000 | 570,480 |
6.25%, due 3/8/41 | 300,000 | 272,298 |
7.30%, due 4/20/52 | 650,000 | 607,880 |
2,960,850 | ||
Tunisia 1.1% | ||
Tunisian Republic | ||
Series Reg S | ||
5.625%, due 2/17/24 | EUR 650,000 | 471,033 |
Series Reg S | ||
5.75%, due 1/30/25 | $ 200,000 | 135,994 |
Series Reg S | ||
5.75%, due 1/30/25 | 350,000 | 237,990 |
845,017 | ||
Ukraine 1.3% | ||
NPC Ukrenergo | ||
Series Reg S | ||
6.875%, due 11/9/26 (c) | 1,150,000 | 379,500 |
State Agency of Roads of Ukraine | ||
Series Reg S | ||
6.25%, due 6/24/28 (c) | 2,227,000 | 695,937 |
1,075,437 | ||
United Arab Emirates 1.4% | ||
Finance Department Government of Sharjah | ||
Series Reg S | ||
3.625%, due 3/10/33 | 500,000 | 440,002 |
Series Reg S | ||
4.00%, due 7/28/50 | 400,000 | 298,080 |
Principal Amount | Value | |
Foreign Government Bonds (continued) | ||
United Arab Emirates (continued) | ||
United Arab Emirates Government Bond | ||
Series Reg S | ||
3.90%, due 9/9/50 | $ 500,000 | $ 396,800 |
1,134,882 | ||
Uruguay 0.5% | ||
Uruguay Government Bond | ||
5.10%, due 6/18/50 | 400,000 | 416,680 |
Venezuela 0.8% | ||
Petroleos de Venezuela SA (b)(c)(d) | ||
Series Reg S | ||
6.00%, due 5/16/24 | 2,500,000 | 161,250 |
Series Reg S | ||
6.00%, due 11/15/26 (g) | 2,500,000 | 161,250 |
Venezuela Government Bond | ||
Series Reg S | ||
9.25%, due 5/7/28 (b)(c)(d) | 4,095,000 | 329,647 |
652,147 | ||
Zambia 0.7% | ||
Zambia Government Bond | ||
Series Reg S | ||
8.97%, due 7/30/27 (b)(d) | 750,000 | 556,463 |
Total Foreign Government Bonds (Cost $82,823,982) | 65,483,889 | |
Total Long-Term Bonds (Cost $88,963,482) | 70,084,975 | |
Shares | ||
Short-Term Investment 1.8% | ||
Unaffiliated Investment Company 1.8% | ||
United States 1.8% | ||
Invesco Government & Agency Portfolio, 0.419% (h)(i) | 1,422,957 | 1,422,957 |
Total Short-Term Investment (Cost $1,422,957) | 1,422,957 | |
Total Investments (Cost $90,386,439) | 89.6% | 71,507,932 |
Other Assets, Less Liabilities | 10.4 | 8,282,085 |
Net Assets | 100.0% | $ 79,790,017 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $2,000,830; the total market value of collateral held by the Fund was $2,106,358. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $683,401. The Fund received cash collateral with a value of $1,422,957. (See Note 2(J)) |
(b) | Issue in default. |
(c) | Illiquid security—As of April 30, 2022, the total market value deemed illiquid under procedures approved by the Board of Trustees was $1,921,084, which represented 2.4% of the Fund’s net assets. |
(d) | Issue in non-accrual status. |
(e) | Step coupon—Rate shown was the rate in effect as of April 30, 2022. |
(f) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(g) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of April 30, 2022. |
(h) | Current yield as of April 30, 2022. |
(i) | Represents a security purchased with cash collateral received for securities on loan. |
18 | MainStay Candriam Emerging Markets Debt Fund |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation)2 | ||
USD | 1,693,322 | EUR | 1,500,000 | JPMorgan Chase Bank N.A. | 5/2/22 | $ 110,897 |
Total Unrealized Appreciation | 110,897 | |||||
EUR | 900,000 | USD | 988,682 | JPMorgan Chase Bank N.A. | 5/18/22 | (38,629) |
USD | 1,578,613 | EUR | 1,500,000 | Barclays Capital | 5/18/22 | (3,812) |
Total Unrealized Depreciation | (42,441) | |||||
Net Unrealized Appreciation | $ 68,456 |
1. | Foreign Currency Forward Contracts are subject to limitations such that they cannot be “sold or repurchased,” although the Fund would be able to exit the transaction through other means, such as through the execution of an offsetting transaction. |
2. | As of April 30, 2022, cash in the amount of $520,000 was on deposit with a broker or forward commission merchant for forward transactions. |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Long Contracts | |||||
U.S. Treasury Long Bonds | 44 | June 2022 | $ 6,890,644 | $ 6,190,250 | $ (700,394) |
Short Contracts | |||||
U.S. Treasury 5 Year Notes | (180) | June 2022 | (20,921,830) | (20,280,938) | 640,892 |
Net Unrealized Depreciation | $ (59,502) |
1. | As of April 30, 2022, cash in the amount of $127,490 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of April 30, 2022. |
Abbreviation(s): |
EUR—Euro |
USD—United States Dollar |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Long-Term Bonds | ||||
Corporate Bonds | $ — | $ 4,601,086 | $ — | $ 4,601,086 |
Foreign Government Bonds | — | 65,483,889 | — | 65,483,889 |
Total Long-Term Bonds | — | 70,084,975 | — | 70,084,975 |
Short-Term Investment | ||||
Unaffiliated Investment Company | 1,422,957 | — | — | 1,422,957 |
Total Investments in Securities | 1,422,957 | 70,084,975 | — | 71,507,932 |
Other Financial Instruments (b) | ||||
Foreign Currency Forward Contracts | — | 110,897 | — | 110,897 |
Futures Contracts | 640,892 | — | — | 640,892 |
Total Other Financial Instruments | 640,892 | 110,897 | — | 751,789 |
Total Investments in Securities and Other Financial Instruments | $ 2,063,849 | $ 70,195,872 | $ — | $ 72,259,721 |
Liability Valuation Inputs | ||||
Other Financial Instruments (b) | ||||
Foreign Currency Forward Contracts | $ — | $ (42,441) | $ — | $ (42,441) |
Futures Contracts | (700,394) | — | — | (700,394) |
Total Other Financial Instruments | $ (700,394) | $ (42,441) | $ — | $ (742,835) |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
20 | MainStay Candriam Emerging Markets Debt Fund |
Assets | |
Investment in securities, at value (identified cost $90,386,439) including securities on loan of $2,000,830 | $71,507,932 |
Cash | 7,810,776 |
Cash denominated in foreign currencies (identified cost $109,009) | 104,110 |
Cash collateral on deposit at broker for futures contracts | 127,490 |
Cash collateral on deposit at broker for forward contracts | 520,000 |
Due from custodian | 423,022 |
Receivables: | |
Variation margin on futures contracts | 1,614,539 |
Interest | 1,027,603 |
Investment securities sold | 177,800 |
Fund shares sold | 15,232 |
Securities lending | 176 |
Unrealized appreciation on foreign currency forward contracts | 110,897 |
Other assets | 49,217 |
Total assets | 83,488,794 |
Liabilities | |
Cash collateral received for securities on loan | 1,422,957 |
Payables: | |
Fund shares redeemed | 1,325,319 |
Investment securities purchased | 669,622 |
Transfer agent (See Note 3) | 39,997 |
Manager (See Note 3) | 35,079 |
Shareholder communication | 32,751 |
Professional fees | 27,076 |
Custodian | 20,300 |
NYLIFE Distributors (See Note 3) | 18,429 |
Trustees | 641 |
Accrued expenses | 11,463 |
Distributions payable | 52,702 |
Unrealized depreciation on foreign currency forward contracts | 42,441 |
Total liabilities | 3,698,777 |
Net assets | $79,790,017 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $99,193 |
Additional paid-in-capital | 120,426,014 |
120,525,207 | |
Total distributable earnings (loss) | (40,735,190) |
Net assets | $79,790,017 |
Class A | |
Net assets applicable to outstanding shares | $63,268,937 |
Shares of beneficial interest outstanding | 7,871,052 |
Net asset value per share outstanding | $8.04 |
Maximum sales charge (4.50% of offering price) | 0.38 |
Maximum offering price per share outstanding | $8.42 |
Investor Class | |
Net assets applicable to outstanding shares | $10,345,192 |
Shares of beneficial interest outstanding | 1,272,661 |
Net asset value per share outstanding | $8.13 |
Maximum sales charge (4.00% of offering price) | 0.34 |
Maximum offering price per share outstanding | $8.47 |
Class B | |
Net assets applicable to outstanding shares | $810,351 |
Shares of beneficial interest outstanding | 103,104 |
Net asset value and offering price per share outstanding | $7.86 |
Class C | |
Net assets applicable to outstanding shares | $2,147,249 |
Shares of beneficial interest outstanding | 272,732 |
Net asset value and offering price per share outstanding | $7.87 |
Class I | |
Net assets applicable to outstanding shares | $3,218,288 |
Shares of beneficial interest outstanding | 399,737 |
Net asset value and offering price per share outstanding | $8.05 |
Investment Income (Loss) | |
Income | |
Interest | $2,389,414 |
Securities lending | 8,706 |
Total income | 2,398,120 |
Expenses | |
Manager (See Note 3) | 321,987 |
Distribution/Service—Class A (See Note 3) | 90,626 |
Distribution/Service—Investor Class (See Note 3) | 14,581 |
Distribution/Service—Class B (See Note 3) | 4,851 |
Distribution/Service—Class C (See Note 3) | 13,871 |
Transfer agent (See Note 3) | 93,773 |
Registration | 40,551 |
Professional fees | 37,385 |
Custodian | 27,130 |
Shareholder communication | 7,575 |
Trustees | 1,228 |
Miscellaneous | 6,898 |
Total expenses before waiver/reimbursement | 660,456 |
Expense waiver/reimbursement from Manager (See Note 3) | (92,823) |
Net expenses | 567,633 |
Net investment income (loss) | 1,830,487 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | (6,737,799) |
Futures transactions | 637,397 |
Foreign currency transactions | (291,111) |
Foreign currency forward transactions | 313,739 |
Net realized gain (loss) | (6,077,774) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (9,523,738) |
Futures contracts | (385,486) |
Foreign currency forward contracts | (66,056) |
Translation of other assets and liabilities in foreign currencies | (433) |
Net change in unrealized appreciation (depreciation) | (9,975,713) |
Net realized and unrealized gain (loss) | (16,053,487) |
Net increase (decrease) in net assets resulting from operations | $(14,223,000) |
22 | MainStay Candriam Emerging Markets Debt Fund |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $1,830,487 | $3,880,608 |
Net realized gain (loss) | (6,077,774) | 262,191 |
Net change in unrealized appreciation (depreciation) | (9,975,713) | 336,603 |
Net increase (decrease) in net assets resulting from operations | (14,223,000) | 4,479,402 |
Distributions to shareholders: | ||
Class A | (2,450,079) | (4,028,577) |
Investor Class | (365,341) | (598,582) |
Class B | (27,951) | (56,287) |
Class C | (80,024) | (199,315) |
Class I | (148,176) | (337,673) |
Total distributions to shareholders | (3,071,571) | (5,220,434) |
Capital share transactions: | ||
Net proceeds from sales of shares | 7,052,044 | 10,338,246 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 2,923,151 | 4,945,465 |
Cost of shares redeemed | (17,157,306) | (21,792,166) |
Increase (decrease) in net assets derived from capital share transactions | (7,182,111) | (6,508,455) |
Net increase (decrease) in net assets | (24,476,682) | (7,249,487) |
Net Assets | ||
Beginning of period | 104,266,699 | 111,516,186 |
End of period | $79,790,017 | $104,266,699 |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.73 | $9.81 | $10.46 | $9.71 | $10.88 | $10.52 |
Net investment income (loss) (a) | 0.18 | 0.36 | 0.47 | 0.49 | 0.45 | 0.53 |
Net realized and unrealized gain (loss) | (1.57) | 0.04 | (0.67) | 0.76 | (1.19) | 0.30 |
Total from investment operations | (1.39) | 0.40 | (0.20) | 1.25 | (0.74) | 0.83 |
Less distributions: | ||||||
From net investment income | (0.30) | (0.48) | (0.45) | (0.50) | (0.43) | (0.36) |
Return of capital | — | — | — | — | — | (0.11) |
Total distributions | (0.30) | (0.48) | (0.45) | (0.50) | (0.43) | (0.47) |
Net asset value at end of period | $8.04 | $9.73 | $9.81 | $10.46 | $9.71 | $10.88 |
Total investment return (b) | (14.58)% | 4.00% | (1.80)% | 13.05% | (6.95)% | 8.18% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 4.06%†† | 3.58% | 4.70% | 4.78% | 4.36% | 5.04% |
Net expenses (c) | 1.15%†† | 1.16% | 1.17% | 1.23% | 1.26% | 1.22% |
Expenses (before waiver/reimbursement) (c) | 1.35%†† | 1.31% | 1.33% | 1.26% | 1.26% | 1.22% |
Portfolio turnover rate | 54% | 112% | 102% | 102% | 44% | 37% |
Net assets at end of period (in 000’s) | $63,269 | $81,092 | $82,874 | $93,472 | $86,452 | $110,238 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.84 | $9.91 | $10.57 | $9.80 | $10.98 | $10.61 |
Net investment income (loss) (a) | 0.17 | 0.33 | 0.44 | 0.47 | 0.43 | 0.52 |
Net realized and unrealized gain (loss) | (1.60) | 0.04 | (0.68) | 0.77 | (1.20) | 0.30 |
Total from investment operations | (1.43) | 0.37 | (0.24) | 1.24 | (0.77) | 0.82 |
Less distributions: | ||||||
From net investment income | (0.28) | (0.44) | (0.42) | (0.47) | (0.41) | (0.35) |
Return of capital | — | — | — | — | — | (0.10) |
Total distributions | (0.28) | (0.44) | (0.42) | (0.47) | (0.41) | (0.45) |
Net asset value at end of period | $8.13 | $9.84 | $9.91 | $10.57 | $9.80 | $10.98 |
Total investment return (b) | (14.79)% | 3.70% | (2.20)% | 12.82% | (7.18)% | 7.99% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 3.67%†† | 3.21% | 4.38% | 4.50% | 4.15% | 4.86% |
Net expenses (c) | 1.55%†† | 1.53% | 1.49% | 1.52% | 1.47% | 1.42% |
Expenses (before waiver/reimbursement) (c) | 1.76%†† | 1.70% | 1.66% | 1.56% | 1.49% | 1.42% |
Portfolio turnover rate | 54% | 112% | 102% | 102% | 44% | 37% |
Net assets at end of period (in 000's) | $10,345 | $12,806 | $13,801 | $16,024 | $15,911 | $18,613 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
24 | MainStay Candriam Emerging Markets Debt Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.52 | $9.61 | $10.26 | $9.52 | $10.69 | $10.34 |
Net investment income (loss) (a) | 0.13 | 0.24 | 0.36 | 0.38 | 0.34 | 0.43 |
Net realized and unrealized gain (loss) | (1.54) | 0.04 | (0.66) | 0.75 | (1.18) | 0.29 |
Total from investment operations | (1.41) | 0.28 | (0.30) | 1.13 | (0.84) | 0.72 |
Less distributions: | ||||||
From net investment income | (0.25) | (0.37) | (0.35) | (0.39) | (0.33) | (0.29) |
Return of capital | — | — | — | — | — | (0.08) |
Total distributions | (0.25) | (0.37) | (0.35) | (0.39) | (0.33) | (0.37) |
Net asset value at end of period | $7.86 | $9.52 | $9.61 | $10.26 | $9.52 | $10.69 |
Total investment return (b) | (15.08)% | 2.87% | (2.91)% | 12.04% | (7.98)% | 7.20% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 2.90%†† | 2.49% | 3.66% | 3.76% | 3.37% | 4.11% |
Net expenses (c) | 2.30%†† | 2.28% | 2.24% | 2.27% | 2.22% | 2.17% |
Expenses (before waiver/reimbursement) (c) | 2.51%†† | 2.45% | 2.40% | 2.31% | 2.24% | 2.17% |
Portfolio turnover rate | 54% | 112% | 102% | 102% | 44% | 37% |
Net assets at end of period (in 000’s) | $810 | $1,129 | $1,789 | $2,663 | $3,660 | $6,012 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.54 | $9.63 | $10.27 | $9.54 | $10.70 | $10.35 |
Net investment income (loss) (a) | 0.13 | 0.25 | 0.36 | 0.38 | 0.35 | 0.43 |
Net realized and unrealized gain (loss) | (1.55) | 0.03 | (0.66) | 0.74 | (1.18) | 0.29 |
Total from investment operations | (1.42) | 0.28 | (0.30) | 1.12 | (0.83) | 0.72 |
Less distributions: | ||||||
From net investment income | (0.25) | (0.37) | (0.34) | (0.39) | (0.33) | (0.29) |
Return of capital | — | — | — | — | — | (0.08) |
Total distributions | (0.25) | (0.37) | (0.34) | (0.39) | (0.33) | (0.37) |
Net asset value at end of period | $7.87 | $9.54 | $9.63 | $10.27 | $9.54 | $10.70 |
Total investment return (b) | (15.16)% | 2.87% | (2.81)% | 11.91% | (7.88)% | 7.19% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 2.90%†† | 2.52% | 3.68% | 3.78% | 3.39% | 4.11% |
Net expenses (c) | 2.30%†† | 2.28% | 2.24% | 2.27% | 2.22% | 2.17% |
Expenses (before waiver/reimbursement) (c) | 2.51%†† | 2.45% | 2.40% | 2.31% | 2.24% | 2.17% |
Portfolio turnover rate | 54% | 112% | 102% | 102% | 44% | 37% |
Net assets at end of period (in 000’s) | $2,147 | $3,511 | $6,365 | $11,150 | $19,246 | $28,270 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.75 | $9.82 | $10.48 | $9.72 | $10.90 | $10.53 |
Net investment income (loss) (a) | 0.20 | 0.39 | 0.51 | 0.52 | 0.48 | 0.56 |
Net realized and unrealized gain (loss) | (1.58) | 0.05 | (0.69) | 0.76 | (1.20) | 0.31 |
Total from investment operations | (1.38) | 0.44 | (0.18) | 1.28 | (0.72) | 0.87 |
Less distributions: | ||||||
From net investment income | (0.32) | (0.51) | (0.48) | (0.52) | (0.46) | (0.39) |
Return of capital | — | — | — | — | — | (0.11) |
Total distributions | (0.32) | (0.51) | (0.48) | (0.52) | (0.46) | (0.50) |
Net asset value at end of period | $8.05 | $9.75 | $9.82 | $10.48 | $9.72 | $10.90 |
Total investment return (b) | (14.52)% | 4.42% | (1.59)% | 13.46% | (6.80)% | 8.54% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 4.35%†† | 3.86% | 5.09% | 4.99% | 4.60% | 5.22% |
Net expenses (c) | 0.85%†† | 0.85% | 0.85% | 0.94% | 1.01% | 0.97% |
Expenses (before waiver/reimbursement) (c) | 1.10%†† | 1.06% | 1.07% | 1.01% | 1.01% | 0.97% |
Portfolio turnover rate | 54% | 112% | 102% | 102% | 44% | 37% |
Net assets at end of period (in 000’s) | $3,218 | $5,729 | $6,687 | $17,100 | $10,428 | $22,717 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
26 | MainStay Candriam Emerging Markets Debt Fund |
Class | Commenced Operations |
Class A | June 1, 1998 |
Investor Class | February 28, 2008 |
Class B | June 1, 1998 |
Class C | September 1, 1998 |
Class I | August 31, 2007 |
Class R6 | N/A* |
SIMPLE Class | N/A* |
* | Class R6 shares were registered for sale effective as of February 28, 2017 and SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
28 | MainStay Candriam Emerging Markets Debt Fund |
30 | MainStay Candriam Emerging Markets Debt Fund |
32 | MainStay Candriam Emerging Markets Debt Fund |
Asset Derivatives | Foreign Exchange Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized appreciation on futures contracts (a) | $— | $640,892 | $640,892 |
Forward Contracts - Unrealized appreciation on foreign currency forward contracts | 110,897 | — | 110,897 |
Total Fair Value | $110,897 | $640,892 | $751,789 |
(a) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Portfolio of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Liability Derivatives | Foreign Exchange Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized depreciation on futures contracts (a) | $— | $(700,394) | $(700,394) |
Forward Contracts - Unrealized depreciation on foreign currency forward contracts | (42,441) | — | (42,441) |
Total Fair Value | $(42,441) | $(700,394) | $(742,835) |
(a) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Portfolio of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Net Realized Gain (Loss) from: | Foreign Exchange Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts | $— | $637,397 | $637,397 |
Forward Contracts | 313,739 | — | 313,739 |
Total Net Realized Gain (Loss) | $313,739 | $637,397 | $951,136 |
Net Change in Unrealized Appreciation (Depreciation) | Foreign Exchange Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts | $— | $(385,486) | $(385,486) |
Forward Contracts | (66,056) | — | (66,056) |
Total Net Change in Unrealized Appreciation (Depreciation) | $(66,056) | $(385,486) | $(451,542) |
Average Notional Amount | Total |
Futures Contracts Long (a) | $6,092,354 |
Futures Contracts Short (b) | $(15,754,293) |
Forward Contracts Long (a) | $1,787,099 |
Forward Contracts Short | $(3,855,029) |
(a) | Positions were open three months during the reporting period. |
(b) | Positions were open five months during the reporting period. |
Class | Expense | Waived |
Class A | $48,908 | $— |
Investor Class | 31,862 | (375) |
Class B | 2,651 | (29) |
Class C | 7,590 | (79) |
Class I | 2,762 | — |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $90,409,949 | $252,773 | $(19,154,790) | $(18,902,017) |
34 | MainStay Candriam Emerging Markets Debt Fund |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $3,366 | $9,520 |
2021 | |
Distributions paid from: | |
Ordinary Income | $5,220,434 |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 778,281 | $6,751,299 |
Shares issued to shareholders in reinvestment of distributions | 256,351 | 2,315,807 |
Shares redeemed | (1,511,286) | (13,386,593) |
Net increase (decrease) in shares outstanding before conversion | (476,654) | (4,319,487) |
Shares converted into Class A (See Note 1) | 16,021 | 142,703 |
Shares converted from Class A (See Note 1) | (813) | (7,369) |
Net increase (decrease) | (461,446) | $(4,184,153) |
Year ended October 31, 2021: | ||
Shares sold | 713,529 | $7,173,220 |
Shares issued to shareholders in reinvestment of distributions | 375,840 | 3,784,034 |
Shares redeemed | (1,340,827) | (13,453,470) |
Net increase (decrease) in shares outstanding before conversion | (251,458) | (2,496,216) |
Shares converted into Class A (See Note 1) | 134,443 | 1,350,648 |
Net increase (decrease) | (117,015) | $(1,145,568) |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 15,219 | $136,968 |
Shares issued to shareholders in reinvestment of distributions | 39,264 | 358,839 |
Shares redeemed | (83,517) | (752,523) |
Net increase (decrease) in shares outstanding before conversion | (29,034) | (256,716) |
Shares converted into Investor Class (See Note 1) | 9,604 | 85,832 |
Shares converted from Investor Class (See Note 1) | (9,607) | (87,639) |
Net increase (decrease) | (29,037) | $(258,523) |
Year ended October 31, 2021: | ||
Shares sold | 40,079 | $408,621 |
Shares issued to shareholders in reinvestment of distributions | 57,221 | 582,738 |
Shares redeemed | (157,005) | (1,594,511) |
Net increase (decrease) in shares outstanding before conversion | (59,705) | (603,152) |
Shares converted into Investor Class (See Note 1) | 58,165 | 584,574 |
Shares converted from Investor Class (See Note 1) | (89,102) | (911,035) |
Net increase (decrease) | (90,642) | $(929,613) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 812 | $7,448 |
Shares issued to shareholders in reinvestment of distributions | 2,640 | 23,443 |
Shares redeemed | (9,311) | (82,385) |
Net increase (decrease) in shares outstanding before conversion | (5,859) | (51,494) |
Shares converted from Class B (See Note 1) | (9,567) | (83,060) |
Net increase (decrease) | (15,426) | $(134,554) |
Year ended October 31, 2021: | ||
Shares sold | 841 | $8,312 |
Shares issued to shareholders in reinvestment of distributions | 4,840 | 47,946 |
Shares redeemed | (44,755) | (440,956) |
Net increase (decrease) in shares outstanding before conversion | (39,074) | (384,698) |
Shares converted from Class B (See Note 1) | (28,531) | (281,622) |
Net increase (decrease) | (67,605) | $(666,320) |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 6,102 | $54,024 |
Shares issued to shareholders in reinvestment of distributions | 8,901 | 79,332 |
Shares redeemed | (103,587) | (923,600) |
Net increase (decrease) in shares outstanding before conversion | (88,584) | (790,244) |
Shares converted from Class C (See Note 1) | (6,802) | (57,836) |
Net increase (decrease) | (95,386) | $(848,080) |
Year ended October 31, 2021: | ||
Shares sold | 31,829 | $312,265 |
Shares issued to shareholders in reinvestment of distributions | 19,879 | 197,409 |
Shares redeemed | (268,085) | (2,624,073) |
Net increase (decrease) in shares outstanding before conversion | (216,377) | (2,114,399) |
Shares converted from Class C (See Note 1) | (76,752) | (742,565) |
Net increase (decrease) | (293,129) | $(2,856,964) |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 11,861 | $102,305 |
Shares issued to shareholders in reinvestment of distributions | 16,050 | 145,730 |
Shares redeemed | (216,791) | (2,012,205) |
Net increase (decrease) in shares outstanding before conversion | (188,880) | (1,764,170) |
Shares converted into Class I (See Note 1) | 812 | 7,369 |
Net increase (decrease) | (188,068) | $(1,756,801) |
Year ended October 31, 2021: | ||
Shares sold | 241,535 | $2,435,828 |
Shares issued to shareholders in reinvestment of distributions | 33,069 | 333,338 |
Shares redeemed | (367,578) | (3,679,156) |
Net increase (decrease) | (92,974) | $(909,990) |
36 | MainStay Candriam Emerging Markets Debt Fund |
38 | MainStay Candriam Emerging Markets Debt Fund |
40 | MainStay Candriam Emerging Markets Debt Fund |
42 | MainStay Candriam Emerging Markets Debt Fund |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares3 | Maximum 3% Initial Sales Charge | With sales charges | 1/3/1995 | -11.82% | -8.98% | 3.47% | 5.96% | 0.99% |
Excluding sales charges | -9.09 | -6.16 | 4.65 | 6.56 | 0.99 | |||
Investor Class Shares4 | Maximum 2.5% Initial Sales Charge | With sales charges | 2/28/2008 | -11.44 | -8.68 | 3.32 | 5.77 | 1.18 |
Excluding sales charges | -9.17 | -6.34 | 4.49 | 6.37 | 1.18 | |||
Class B Shares5 | Maximum 5% CDSC | With sales charges | 12/29/1987 | -13.80 | -11.41 | 3.36 | 5.58 | 1.93 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -9.54 | -7.04 | 3.70 | 5.58 | 1.93 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/1/1998 | -10.36 | -7.88 | 3.71 | 5.58 | 1.93 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -9.51 | -7.01 | 3.71 | 5.58 | 1.93 | ||
Class I Shares | No Sales Charge | 1/2/2004 | -8.97 | -5.87 | 4.92 | 6.83 | 0.74 | |
Class R2 Shares | No Sales Charge | 2/27/2015 | -9.13 | -6.22 | 4.56 | 4.05 | 1.09 | |
Class R3 Shares | No Sales Charge | 2/29/2016 | -9.29 | -6.49 | 4.28 | 6.03 | 1.34 | |
Class R6 Shares | No Sales Charge | 2/28/2018 | -8.93 | -5.83 | N/A | 5.04 | 0.66 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -9.28 | -6.57 | N/A | 2.70 | 1.43 |
1. | Not annualized. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Prior to November 4, 2019, the maximum initial sales charge applicable was 5.5%, which is reflected in the applicable average annual total return figures shown. |
4. | Prior to June 30, 2020, the maximum initial sales charge was 3%, which is reflected in the applicable average annual total return figures shown. |
5. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
MSCI World Index (Net)2 | -11.30% | -3.52% | 10.17% | 10.05% |
Bloomberg U.S. Aggregate Bond Index3 | -9.47 | -8.51 | 1.20 | 1.73 |
Blended Benchmark Index4 | -10.47 | -5.38 | 6.81 | 6.89 |
Morningstar Global Allocation Category Average5 | -7.24 | -4.05 | 4.48 | 4.25 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The MSCI World Index (Net) is the Fund's primary broad-based securities market index for comparison purposes. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Fund has selected the Bloomberg U.S. Aggregate Bond Index as a secondary benchmark. The Bloomberg U.S. Aggregate Bond Index measures performance of the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasurys, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Fund has selected the Blended Benchmark Index as an additional benchmark. The Blended Benchmark Index consists of the MSCI World Index (Net) and the Bloomberg U.S. Aggregate Bond Index, weighted 60% and 40%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | Global-allocation portfolios seek to provide both capital appreciation and income by investing in three major areas: stocks, bonds, and cash. While these portfolios do explore the whole world, most of them focus on the U.S., Canada, Japan, and the larger markets in Europe. It is rare for such portfolios to invest more than 10% of their assets in emerging markets. These portfolios typically have at least 10% of assets in bonds, less than 70% of assets in stocks, and at least 40% of assets in non-U.S. stocks or bonds. |
6 | MainStay Income Builder Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $909.10 | $4.69 | $1,019.89 | $4.96 | 0.99% |
Investor Class Shares | $1,000.00 | $908.30 | $5.58 | $1,018.94 | $5.91 | 1.18% |
Class B Shares | $1,000.00 | $904.60 | $9.11 | $1,015.22 | $9.64 | 1.93% |
Class C Shares | $1,000.00 | $904.90 | $9.12 | $1,015.22 | $9.64 | 1.93% |
Class I Shares | $1,000.00 | $910.30 | $3.51 | $1,021.13 | $3.71 | 0.74% |
Class R2 Shares | $1,000.00 | $908.70 | $5.16 | $1,019.39 | $5.46 | 1.09% |
Class R3 Shares | $1,000.00 | $907.10 | $6.34 | $1,018.15 | $6.71 | 1.34% |
Class R6 Shares | $1,000.00 | $910.70 | $3.13 | $1,021.52 | $3.31 | 0.66% |
SIMPLE Class Shares | $1,000.00 | $907.20 | $6.76 | $1,017.70 | $7.15 | 1.43% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Portfolio Composition as of April 30, 2022 (Unaudited)
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | UMBS, 30 Year, 2.50%-4.00%, due 8/1/48–4/1/52 |
2. | Bank of America Corp. |
3. | GNMA, 1.00%-3.25%, due 8/16/41–10/20/51 |
4. | Broadcom, Inc. |
5. | U.S. Treasury Bonds, 2.25%-2.375%, due 2/15/42–2/15/52 |
6. | Apple, Inc. |
7. | Microsoft Corp. |
8. | JPMorgan Chase & Co. |
9. | International Business Machines Corp. |
10. | Emerson Electric Co. |
8 | MainStay Income Builder Fund |
10 | MainStay Income Builder Fund |
12 | MainStay Income Builder Fund |
Principal Amount | Value | |
Long-Term Bonds 42.6% | ||
Asset-Backed Securities 4.0% | ||
Automobile Asset-Backed Securities 0.9% | ||
American Credit Acceptance Receivables Trust | ||
Series 2021-3, Class D | ||
1.34%, due 11/15/27 (a) | $ 1,535,000 | $ 1,443,003 |
Avis Budget Rental Car Funding AESOP LLC (a) | ||
Series 2021-1A, Class A | ||
1.38%, due 8/20/27 | 2,700,000 | 2,427,474 |
Series 2020-2A, Class A | ||
2.02%, due 2/20/27 | 845,000 | 790,296 |
Series 2020-1A, Class A | ||
2.33%, due 8/20/26 | 1,135,000 | 1,083,044 |
Drive Auto Receivables Trust | ||
Series 2021-2, Class D | ||
1.39%, due 3/15/29 | 1,200,000 | 1,130,066 |
Ford Credit Auto Owner Trust | ||
Series 2020-2, Class A | ||
1.06%, due 4/15/33 (a) | 1,105,000 | 1,011,224 |
Ford Credit Floorplan Master Owner Trust | ||
Series 2018-4, Class A | ||
4.06%, due 11/15/30 | 1,510,000 | 1,526,238 |
Hertz Vehicle Financing III LP | ||
Series 2021-2A, Class D | ||
4.34%, due 12/27/27 (a) | 3,070,000 | 2,717,738 |
Hertz Vehicle Financing LLC | ||
Series 2021-1A, Class B | ||
1.56%, due 12/26/25 (a) | 1,235,000 | 1,160,620 |
J.P. Morgan Chase Bank NA | ||
Series 2020-1, Class B | ||
0.991%, due 1/25/28 (a) | 311,578 | 308,371 |
13,598,074 | ||
Home Equity Asset-Backed Securities 0.2% | ||
Carrington Mortgage Loan Trust | ||
Series 2007-HE1, Class A3 | ||
0.858% (1 Month LIBOR + 0.19%), due 6/25/37 (b) | 1,691,529 | 1,656,249 |
Equity One Mortgage Pass-Through Trust | ||
Series 2003-3, Class AF4 | ||
5.495%, due 12/25/33 (c) | 28,112 | 28,100 |
Principal Amount | Value | |
Home Equity Asset-Backed Securities (continued) | ||
J.P. Morgan Mortgage Acquisition Trust | ||
Series 2007-HE1, Class AF1 | ||
0.768% (1 Month LIBOR + 0.10%), due 3/25/47 (b) | $ 319,951 | $ 210,525 |
MASTR Asset-Backed Securities Trust | ||
Series 2006-HE4, Class A1 | ||
0.768% (1 Month LIBOR + 0.10%), due 11/25/36 (b) | 494,744 | 196,675 |
2,091,549 | ||
Other Asset-Backed Securities 2.9% | ||
American Airlines Pass-Through Trust | ||
Series 2016-2, Class AA | ||
3.20%, due 6/15/28 | 519,860 | 487,475 |
Series 2016-2, Class A | ||
3.65%, due 6/15/28 | 1,207,910 | 1,051,055 |
Series 2013-2, Class A | ||
4.95%, due 1/15/23 | 1,693,426 | 1,682,121 |
AMSR Trust | ||
Series 2020-SFR4, Class A | ||
1.355%, due 11/17/37 (a) | 2,303,000 | 2,115,215 |
British Airways Pass-Through Trust | ||
Series 2021-1, Class A | ||
2.90%, due 3/15/35 (United Kingdom) (a) | 1,988,674 | 1,776,633 |
CF Hippolyta LLC (a) | ||
Series 2021-1A, Class A1 | ||
1.53%, due 3/15/61 | 2,473,956 | 2,253,071 |
Series 2020-1, Class A1 | ||
1.69%, due 7/15/60 | 1,302,512 | 1,208,179 |
Series 2020-1, Class A2 | ||
1.99%, due 7/15/60 | 1,166,760 | 1,042,921 |
Crown Castle Towers LLC | ||
4.241%, due 7/15/28 (a) | 2,680,000 | 2,669,154 |
CVS Pass-Through Trust | ||
5.789%, due 1/10/26 (a) | 87,748 | 90,633 |
DB Master Finance LLC | ||
Series 2021-1A, Class A23 | ||
2.791%, due 11/20/51 (a) | 2,249,363 | 1,939,747 |
FirstKey Homes Trust | ||
Series 2020-SFR1, Class A | ||
1.339%, due 8/17/37 (a) | 2,482,025 | 2,288,329 |
Home Partners of America Trust (a) | ||
Series 2021-2, Class A | ||
1.901%, due 12/17/26 | 702,981 | 642,211 |
Series 2021-2, Class B | ||
2.302%, due 12/17/26 | 1,334,897 | 1,218,167 |
Principal Amount | Value | |
Asset-Backed Securities (continued) | ||
Other Asset-Backed Securities (continued) | ||
MMAF Equipment Finance LLC | ||
Series 2020-BA, Class A4 | ||
0.66%, due 11/15/27 (a) | $ 3,750,000 | $ 3,486,162 |
Navient Private Education Refi Loan Trust (a) | ||
Series 2020-EA, Class A | ||
1.69%, due 5/15/69 | 858,741 | 815,730 |
Series 2021-EA, Class B | ||
2.03%, due 12/16/69 | 3,245,000 | 2,750,006 |
New Economy Assets Phase 1 Sponsor LLC (a) | ||
Series 2021-1, Class A1 | ||
1.91%, due 10/20/61 | 1,585,000 | 1,422,156 |
Series 2021-1, Class B1 | ||
2.41%, due 10/20/61 | 1,535,000 | 1,389,067 |
Progress Residential (a) | ||
Series 2021-SFR1, Class A | ||
1.052%, due 4/17/38 | 1,563,616 | 1,401,440 |
Series 2021-SFR4, Class B | ||
1.808%, due 5/17/38 | 1,780,000 | 1,599,187 |
Progress Residential Trust (a) | ||
Series 2020-SFR3, Class A | ||
1.294%, due 10/17/27 | 1,580,461 | 1,452,879 |
Series 2021-SFR2, Class B | ||
1.796%, due 4/19/38 | 2,500,000 | 2,268,503 |
Sierra Timeshare Receivables Funding LLC | ||
Series 2020-2A, Class A | ||
1.33%, due 7/20/37 (a) | 642,907 | 609,749 |
Taco Bell Funding LLC | ||
Series 2021-1A, Class A23 | ||
2.542%, due 8/25/51 (a) | 1,551,113 | 1,302,426 |
U.S. Airways Pass-Through Trust | ||
Series 2012-1, Class A | ||
5.90%, due 10/1/24 | 1,044,018 | 1,070,108 |
Series 2010-1, Class A | ||
6.25%, due 4/22/23 | 434,773 | 436,172 |
United Airlines Pass-Through Trust | ||
Series 2020-1, Class A | ||
5.875%, due 10/15/27 | 1,668,278 | 1,702,962 |
Series 2007-1 | ||
6.636%, due 7/2/22 | 712,277 | 712,209 |
42,883,667 | ||
Total Asset-Backed Securities (Cost $63,211,976) | 58,573,290 |
Principal Amount | Value | |
Corporate Bonds 24.8% | ||
Aerospace & Defense 0.3% | ||
Boeing Co. (The) | ||
3.75%, due 2/1/50 | $ 880,000 | $ 673,518 |
Howmet Aerospace, Inc. | ||
3.00%, due 1/15/29 | 1,990,000 | 1,736,574 |
L3Harris Technologies, Inc. | ||
4.40%, due 6/15/28 (d) | 2,215,000 | 2,214,960 |
4,625,052 | ||
Agriculture 0.2% | ||
BAT Capital Corp. | ||
3.734%, due 9/25/40 (United Kingdom) | 2,105,000 | 1,572,967 |
BAT International Finance plc | ||
4.448%, due 3/16/28 (United Kingdom) | 1,170,000 | 1,126,480 |
2,699,447 | ||
Airlines 0.5% | ||
American Airlines, Inc. (a) | ||
5.50%, due 4/20/26 | 1,400,000 | 1,387,750 |
5.75%, due 4/20/29 | 850,000 | 819,039 |
Delta Air Lines, Inc. (a) | ||
4.50%, due 10/20/25 | 1,080,000 | 1,072,691 |
4.75%, due 10/20/28 | 2,125,000 | 2,100,216 |
Mileage Plus Holdings LLC | ||
6.50%, due 6/20/27 (a) | 1,860,000 | 1,897,163 |
7,276,859 | ||
Auto Manufacturers 1.0% | ||
Ford Motor Credit Co. LLC | ||
2.70%, due 8/10/26 | 940,000 | 837,991 |
3.35%, due 11/1/22 | 820,000 | 820,254 |
4.063%, due 11/1/24 | 1,935,000 | 1,892,744 |
4.125%, due 8/17/27 | 1,650,000 | 1,529,633 |
4.25%, due 9/20/22 | 655,000 | 657,073 |
General Motors Co. | ||
6.125%, due 10/1/25 | 670,000 | 707,256 |
General Motors Financial Co., Inc. | ||
2.35%, due 1/8/31 | 810,000 | 654,396 |
2.70%, due 6/10/31 | 2,015,000 | 1,658,696 |
4.30%, due 4/6/29 | 1,125,000 | 1,072,985 |
Nissan Motor Acceptance Co. LLC (a) | ||
1.125%, due 9/16/24 | 1,935,000 | 1,798,248 |
1.85%, due 9/16/26 | 3,205,000 | 2,778,020 |
14,407,296 |
14 | MainStay Income Builder Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Banks 7.0% | ||
Bank of America Corp. | ||
2.087%, due 6/14/29 (e) | $ 1,690,000 | $ 1,467,500 |
2.496%, due 2/13/31 (e) | 1,600,000 | 1,372,199 |
2.572%, due 10/20/32 (e) | 1,195,000 | 1,009,529 |
3.194%, due 7/23/30 (e) | 1,425,000 | 1,302,949 |
3.384%, due 4/2/26 (e) | 1,115,000 | 1,090,775 |
3.458%, due 3/15/25 (e) | 1,700,000 | 1,684,127 |
4.20%, due 8/26/24 | 2,615,000 | 2,639,015 |
Series MM | ||
4.30%, due 1/28/25 (e)(f) | 2,184,000 | 1,974,445 |
4.571%, due 4/27/33 (e) | 960,000 | 955,731 |
Series DD | ||
6.30%, due 3/10/26 (d)(e)(f) | 2,085,000 | 2,131,912 |
8.57%, due 11/15/24 | 485,000 | 537,262 |
BNP Paribas SA (France) (a) | ||
3.052%, due 1/13/31 (e) | 2,395,000 | 2,107,402 |
4.625% (5 Year Treasury Constant Maturity Rate + 3.196%), due 1/12/27 (b)(d)(f) | 1,450,000 | 1,311,583 |
4.625% (5 Year Treasury Constant Maturity Rate + 3.34%), due 2/25/31 (b)(f) | 2,090,000 | 1,760,721 |
BPCE SA | ||
2.045%, due 10/19/27 (France) (a)(e) | 1,255,000 | 1,122,522 |
Citigroup, Inc. | ||
3.668%, due 7/24/28 (e) | 1,180,000 | 1,134,900 |
3.98%, due 3/20/30 (e) | 2,370,000 | 2,266,896 |
Series Y | ||
4.15% (5 Year Treasury Constant Maturity Rate + 3.00%), due 11/15/26 (b)(f) | 2,005,000 | 1,773,623 |
5.30%, due 5/6/44 | 1,200,000 | 1,217,505 |
6.625%, due 6/15/32 | 770,000 | 864,757 |
6.875%, due 6/1/25 | 1,715,000 | 1,840,257 |
Citizens Financial Group, Inc. | ||
2.638%, due 9/30/32 | 2,715,000 | 2,237,111 |
Credit Agricole SA | ||
4.75% (5 Year Treasury Constant Maturity Rate + 3.237%), due 3/23/29 (France) (a)(b)(f) | 2,175,000 | 1,873,219 |
Credit Suisse Group AG (Switzerland) (a)(e) | ||
2.593%, due 9/11/25 | 3,000,000 | 2,861,299 |
3.091%, due 5/14/32 | 1,930,000 | 1,614,073 |
Principal Amount | Value | |
Banks (continued) | ||
Deutsche Bank AG (Germany) | ||
Series E | ||
0.962%, due 11/8/23 | $ 2,970,000 | $ 2,861,991 |
1.405% (SOFR + 1.219%), due 11/16/27 (b) | 1,945,000 | 1,879,394 |
3.035%, due 5/28/32 (e) | 600,000 | 500,559 |
First Horizon Bank | ||
5.75%, due 5/1/30 | 1,555,000 | 1,668,332 |
First Horizon Corp. | ||
4.00%, due 5/26/25 | 2,100,000 | 2,095,283 |
Freedom Mortgage Corp. | ||
7.625%, due 5/1/26 (a) | 1,595,000 | 1,451,450 |
Goldman Sachs Group, Inc. (The) | ||
1.431%, due 3/9/27 (e) | 1,255,000 | 1,120,299 |
1.676% (3 Month LIBOR + 1.17%), due 5/15/26 (b) | 2,245,000 | 2,253,493 |
1.948%, due 10/21/27 (e) | 1,435,000 | 1,288,729 |
1.992%, due 1/27/32 (e) | 1,370,000 | 1,106,750 |
2.615%, due 4/22/32 (e) | 1,005,000 | 850,060 |
2.908%, due 6/5/23 (e) | 800,000 | 799,845 |
3.102%, due 2/24/33 (e) | 905,000 | 790,887 |
3.50%, due 11/16/26 | 1,085,000 | 1,058,039 |
6.75%, due 10/1/37 | 829,000 | 956,699 |
HSBC Holdings plc | ||
3.973%, due 5/22/30 (United Kingdom) (e) | 2,365,000 | 2,230,097 |
JPMorgan Chase & Co. | ||
1.383% (SOFR + 1.18%), due 2/24/28 (b) | 1,995,000 | 1,971,658 |
2.182%, due 6/1/28 (e) | 1,800,000 | 1,619,685 |
2.956%, due 5/13/31 (e) | 1,115,000 | 980,065 |
4.323%, due 4/26/28 (e) | 2,185,000 | 2,175,237 |
Series HH | ||
4.60%, due 2/1/25 (e)(f) | 1,552,000 | 1,434,514 |
Lloyds Banking Group plc (United Kingdom) | ||
4.582%, due 12/10/25 | 1,633,000 | 1,638,891 |
4.65%, due 3/24/26 | 3,090,000 | 3,105,810 |
Macquarie Group Ltd. | ||
2.871%, due 1/14/33 (Australia) (a)(e) | 1,925,000 | 1,599,983 |
Mizuho Financial Group, Inc. | ||
3.261% (1 Year Treasury Constant Maturity Rate + 1.25%), due 5/22/30 (Japan) (b) | 1,290,000 | 1,190,558 |
Morgan Stanley | ||
2.484%, due 9/16/36 (e) | 1,710,000 | 1,368,098 |
2.511%, due 10/20/32 (e) | 855,000 | 718,770 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Banks (continued) | ||
Morgan Stanley (continued) | ||
5.00%, due 11/24/25 | $ 2,855,000 | $ 2,930,773 |
5.297%, due 4/20/37 (e) | 650,000 | 650,121 |
7.25%, due 4/1/32 | 490,000 | 590,539 |
NatWest Group plc | ||
3.073% (1 Year Treasury Constant Maturity Rate + 2.55%), due 5/22/28 (United Kingdom) (b) | 3,705,000 | 3,433,426 |
Societe Generale SA (France) (a)(b) | ||
3.337% (1 Year Treasury Constant Maturity Rate + 1.60%), due 1/21/33 | 1,590,000 | 1,346,331 |
4.75% (5 Year Treasury Constant Maturity Rate + 3.931%), due 5/26/26 (f) | 935,000 | 829,003 |
5.375% (5 Year Treasury Constant Maturity Rate + 4.514%), due 11/18/30 (f) | 2,385,000 | 2,094,030 |
Standard Chartered plc (United Kingdom) (a)(b) | ||
1.822% (1 Year Treasury Constant Maturity Rate + 0.95%), due 11/23/25 | 2,510,000 | 2,348,256 |
4.75% (5 Year Treasury Constant Maturity Rate + 3.805%), due 1/14/31 (d)(f) | 1,225,000 | 1,050,438 |
SVB Financial Group | ||
Series C | ||
4.00% (5 Year Treasury Constant Maturity Rate + 3.202%), due 5/15/26 (b)(f) | 1,810,000 | 1,574,157 |
Truist Bank | ||
2.636% (5 Year Treasury Constant Maturity Rate + 1.15%), due 9/17/29 (b) | 1,900,000 | 1,839,459 |
UBS Group AG | ||
4.375% (5 Year Treasury Constant Maturity Rate + 3.313%), due 2/10/31 (Switzerland) (a)(b)(f) | 2,350,000 | 1,961,545 |
Wachovia Corp. | ||
5.50%, due 8/1/35 | 315,000 | 329,518 |
Wells Fargo & Co. | ||
4.90%, due 11/17/45 | 55,000 | 53,700 |
Wells Fargo Bank NA | ||
5.85%, due 2/1/37 | 140,000 | 155,178 |
Principal Amount | Value | |
Banks (continued) | ||
Westpac Banking Corp. | ||
3.02% (5 Year Treasury Constant Maturity Rate + 1.53%), due 11/18/36 (Australia) (b) | $ 1,025,000 | $ 849,388 |
102,902,350 | ||
Beverages 0.0% ‡ | ||
Anheuser-Busch InBev Worldwide, Inc. | ||
4.75%, due 1/23/29 (Belgium) | 585,000 | 602,037 |
Building Materials 0.3% | ||
Cemex SAB de CV | ||
3.125%, due 3/19/26 (Mexico) (a) | EUR 4,255,000 | 4,404,871 |
Chemicals 0.5% | ||
Braskem Netherlands Finance BV | ||
4.50%, due 1/10/28 (Brazil) (a) | $ 2,135,000 | 2,010,764 |
Huntsman International LLC | ||
4.50%, due 5/1/29 | 1,862,000 | 1,834,082 |
International Flavors & Fragrances, Inc. | ||
1.832%, due 10/15/27 (a) | 2,300,000 | 2,026,552 |
Orbia Advance Corp. SAB de CV | ||
4.00%, due 10/4/27 (Mexico) (a) | 1,800,000 | 1,715,184 |
7,586,582 | ||
Commercial Services 0.6% | ||
Allied Universal Holdco LLC | ||
6.625%, due 7/15/26 (a) | 1,650,000 | 1,594,626 |
Ashtead Capital, Inc. | ||
4.00%, due 5/1/28 (United Kingdom) (a) | 935,000 | 890,249 |
California Institute of Technology | ||
3.65%, due 9/1/19 | 1,413,000 | 1,089,079 |
Cintas Corp. No. 2 | ||
3.70%, due 4/1/27 | 2,740,000 | 2,722,074 |
Sodexo, Inc. | ||
2.718%, due 4/16/31 (France) (a) | 2,370,000 | 2,094,051 |
8,390,079 | ||
Computers 0.7% | ||
Apple, Inc. | ||
2.75%, due 1/13/25 | 1,990,000 | 1,972,293 |
Dell International LLC | ||
3.375%, due 12/15/41 (a) | 2,090,000 | 1,568,922 |
4.90%, due 10/1/26 | 1,749,000 | 1,785,214 |
5.30%, due 10/1/29 | 810,000 | 834,733 |
16 | MainStay Income Builder Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Computers (continued) | ||
Dell International LLC (continued) | ||
8.10%, due 7/15/36 | $ 1,242,000 | $ 1,519,390 |
NCR Corp. | ||
5.00%, due 10/1/28 (a) | 2,376,000 | 2,269,080 |
9,949,632 | ||
Diversified Financial Services 1.8% | ||
AerCap Ireland Capital DAC (Ireland) | ||
2.45%, due 10/29/26 | 1,585,000 | 1,409,545 |
3.30%, due 1/23/23 | 1,275,000 | 1,274,492 |
4.625%, due 7/1/22 | 964,000 | 967,081 |
Air Lease Corp. | ||
2.30%, due 2/1/25 | 2,990,000 | 2,841,952 |
2.75%, due 1/15/23 | 1,850,000 | 1,848,792 |
4.25%, due 9/15/24 | 1,185,000 | 1,189,332 |
Aircastle Ltd. | ||
5.25% (5 Year Treasury Constant Maturity Rate + 4.41%), due 6/15/26 (a)(b)(f) | 1,765,000 | 1,571,099 |
Ally Financial, Inc. | ||
3.875%, due 5/21/24 | 810,000 | 812,786 |
Series C | ||
4.70% (7 Year Treasury Constant Maturity Rate + 3.481%), due 5/15/28 (b)(f) | 1,180,000 | 1,015,756 |
8.00%, due 11/1/31 | 1,685,000 | 2,004,501 |
Aviation Capital Group LLC | ||
1.95%, due 1/30/26 (a) | 1,210,000 | 1,080,920 |
Avolon Holdings Funding Ltd. (Ireland) (a) | ||
2.125%, due 2/21/26 | 1,515,000 | 1,356,692 |
2.875%, due 2/15/25 | 2,720,000 | 2,554,399 |
Banco BTG Pactual SA (Brazil) (a) | ||
2.75%, due 1/11/26 (d) | 2,630,000 | 2,396,587 |
4.50%, due 1/10/25 | 850,000 | 837,420 |
Capital One Financial Corp. | ||
4.20%, due 10/29/25 | 435,000 | 433,900 |
OneMain Finance Corp. | ||
3.50%, due 1/15/27 | 885,000 | 777,490 |
3.875%, due 9/15/28 | 1,085,000 | 919,537 |
6.125%, due 3/15/24 | 540,000 | 542,068 |
PennyMac Financial Services, Inc. | ||
4.25%, due 2/15/29 (a) | 1,275,000 | 1,025,011 |
26,859,360 |
Principal Amount | Value | |
Electric 1.7% | ||
Alabama Power Co. | ||
3.00%, due 3/15/52 | $ 2,045,000 | $ 1,572,282 |
Arizona Public Service Co. | ||
2.20%, due 12/15/31 | 1,930,000 | 1,595,530 |
Calpine Corp. | ||
5.125%, due 3/15/28 (a) | 1,245,000 | 1,130,927 |
Connecticut Light and Power Co. (The) | ||
4.00%, due 4/1/48 | 1,145,000 | 1,074,066 |
Duquesne Light Holdings, Inc. | ||
3.616%, due 8/1/27 (a) | 2,265,000 | 2,173,786 |
Edison International | ||
Series B | ||
5.00% (5 Year Treasury Constant Maturity Rate + 3.901%), due 12/15/26 (b)(f) | 2,140,000 | 1,936,964 |
Entergy Louisiana LLC | ||
4.00%, due 3/15/33 | 2,200,000 | 2,170,017 |
Evergy, Inc. | ||
5.292%, due 6/15/22 (c) | 1,130,000 | 1,131,052 |
Jersey Central Power & Light Co. | ||
2.75%, due 3/1/32 (a) | 1,655,000 | 1,453,459 |
Ohio Power Co. | ||
Series R | ||
2.90%, due 10/1/51 | 1,000,000 | 735,746 |
Public Service Electric and Gas Co. | ||
3.00%, due 5/15/27 (d) | 2,235,000 | 2,163,039 |
Southern California Edison Co. | ||
Series E | ||
3.70%, due 8/1/25 | 870,000 | 867,858 |
4.00%, due 4/1/47 | 1,320,000 | 1,128,923 |
Southwestern Electric Power Co. | ||
3.25%, due 11/1/51 | 3,495,000 | 2,667,307 |
Virginia Electric and Power Co. | ||
2.95%, due 11/15/51 | 2,175,000 | 1,687,717 |
WEC Energy Group, Inc. | ||
2.619% (3 Month LIBOR + 2.113%), due 5/15/67 (b) | 1,095,000 | 937,002 |
24,425,675 | ||
Entertainment 0.1% | ||
Magallanes, Inc. | ||
4.279%, due 3/15/32 (a) | 1,340,000 | 1,244,719 |
Environmental Control 0.3% | ||
Republic Services, Inc. | ||
4.75%, due 5/15/23 (d) | 881,000 | 894,540 |
Stericycle, Inc. | ||
3.875%, due 1/15/29 (a) | 280,000 | 246,918 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Environmental Control (continued) | ||
Waste Connections, Inc. | ||
2.20%, due 1/15/32 | $ 1,100,000 | $ 930,143 |
Waste Management, Inc. | ||
2.40%, due 5/15/23 | 2,275,000 | 2,265,613 |
4,337,214 | ||
Food 0.5% | ||
Kraft Heinz Foods Co. | ||
5.00%, due 7/15/35 | 864,000 | 859,282 |
Nestle Holdings, Inc. | ||
1.00%, due 9/15/27 (a) | 2,910,000 | 2,553,560 |
Smithfield Foods, Inc. | ||
4.25%, due 2/1/27 (a) | 1,180,000 | 1,151,742 |
Sysco Corp. | ||
5.95%, due 4/1/30 | 455,000 | 495,806 |
Tyson Foods, Inc. | ||
3.95%, due 8/15/24 | 2,255,000 | 2,276,173 |
7,336,563 | ||
Gas 0.2% | ||
National Fuel Gas Co. | ||
2.95%, due 3/1/31 | 1,050,000 | 897,507 |
Southern California Gas Co. | ||
Series VV | ||
4.30%, due 1/15/49 | 845,000 | 815,636 |
Southern Co. Gas Capital Corp. | ||
Series 21A | ||
3.15%, due 9/30/51 | 1,970,000 | 1,468,509 |
3,181,652 | ||
Healthcare-Services 0.1% | ||
NYU Langone Hospitals | ||
Series 2020 | ||
3.38%, due 7/1/55 | 1,490,000 | 1,155,501 |
Home Builders 0.1% | ||
Lennar Corp. | ||
5.875%, due 11/15/24 | 1,345,000 | 1,396,279 |
Thor Industries, Inc. | ||
4.00%, due 10/15/29 (a) | 891,000 | 752,993 |
2,149,272 | ||
Insurance 0.8% | ||
Athene Global Funding | ||
2.50%, due 3/24/28 (a) | 2,405,000 | 2,131,772 |
Equitable Holdings, Inc. | ||
5.00%, due 4/20/48 | 2,305,000 | 2,237,245 |
Principal Amount | Value | |
Insurance (continued) | ||
Peachtree Corners Funding Trust | ||
3.976%, due 2/15/25 (a) | $ 940,000 | $ 940,018 |
Protective Life Corp. | ||
8.45%, due 10/15/39 | 1,640,000 | 2,140,251 |
Reliance Standard Life Global Funding II | ||
2.50%, due 10/30/24 (a) | 2,420,000 | 2,355,643 |
Voya Financial, Inc. | ||
3.65%, due 6/15/26 | 690,000 | 678,370 |
Willis North America, Inc. | ||
2.95%, due 9/15/29 | 1,735,000 | 1,548,966 |
3.875%, due 9/15/49 | 440,000 | 365,778 |
12,398,043 | ||
Internet 0.4% | ||
Amazon.com, Inc. | ||
3.60%, due 4/13/32 | 1,325,000 | 1,299,109 |
Expedia Group, Inc. | ||
3.25%, due 2/15/30 | 3,165,000 | 2,823,282 |
3.60%, due 12/15/23 | 1,135,000 | 1,134,972 |
3.80%, due 2/15/28 | 440,000 | 419,053 |
5.00%, due 2/15/26 | 60,000 | 61,310 |
6.25%, due 5/1/25 (a) | 207,000 | 216,050 |
5,953,776 | ||
Iron & Steel 0.2% | ||
Vale Overseas Ltd. | ||
6.25%, due 8/10/26 (Brazil) | 2,585,000 | 2,718,127 |
Lodging 0.5% | ||
Hilton Domestic Operating Co., Inc. | ||
4.875%, due 1/15/30 | 1,715,000 | 1,654,461 |
5.75%, due 5/1/28 (a) | 740,000 | 750,545 |
Las Vegas Sands Corp. | ||
3.20%, due 8/8/24 | 1,415,000 | 1,358,909 |
Marriott International, Inc. | ||
Series X | ||
4.00%, due 4/15/28 | 1,625,000 | 1,576,169 |
Sands China Ltd. | ||
5.125%, due 8/8/25 (Macao) (c) | 1,310,000 | 1,270,700 |
6,610,784 | ||
Media 0.5% | ||
Comcast Corp. | ||
2.937%, due 11/1/56 (a) | 1,914,000 | 1,369,130 |
DISH DBS Corp. | ||
5.75%, due 12/1/28 (a) | 2,135,000 | 1,909,715 |
Grupo Televisa SAB | ||
5.25%, due 5/24/49 (Mexico) | 1,230,000 | 1,243,653 |
18 | MainStay Income Builder Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Media (continued) | ||
Sirius XM Radio, Inc. | ||
4.125%, due 7/1/30 (a) | $ 2,200,000 | $ 1,931,798 |
Time Warner Entertainment Co. LP | ||
8.375%, due 3/15/23 | 800,000 | 835,809 |
7,290,105 | ||
Mining 0.2% | ||
Glencore Funding LLC | ||
1.625%, due 9/1/25 (Australia) (a) | 2,805,000 | 2,578,515 |
Miscellaneous—Manufacturing 0.2% | ||
Textron Financial Corp. | ||
2.241% (3 Month LIBOR + 1.735%), due 2/15/42 (a)(b) | 2,720,000 | 2,274,491 |
Oil & Gas 0.6% | ||
Gazprom PJSC Via Gaz Capital SA | ||
7.288%, due 8/16/37 (Russia) (a)(g) | 2,065,000 | 536,900 |
Marathon Petroleum Corp. | ||
4.70%, due 5/1/25 | 1,585,000 | 1,608,605 |
5.125%, due 12/15/26 | 1,260,000 | 1,315,192 |
Occidental Petroleum Corp. | ||
4.30%, due 8/15/39 | 545,000 | 462,896 |
Petrobras Global Finance BV | ||
5.50%, due 6/10/51 (Brazil) | 1,310,000 | 1,075,012 |
Southwestern Energy Co. | ||
4.75%, due 2/1/32 | 1,375,000 | 1,300,241 |
Valero Energy Corp. | ||
3.65%, due 12/1/51 | 1,640,000 | 1,278,907 |
6.625%, due 6/15/37 | 1,050,000 | 1,195,520 |
8,773,273 | ||
Packaging & Containers 0.1% | ||
Berry Global, Inc. | ||
4.875%, due 7/15/26 (a) | 200,000 | 198,770 |
Owens-Brockway Glass Container, Inc. | ||
6.625%, due 5/13/27 (a)(d) | 1,976,000 | 1,946,360 |
2,145,130 | ||
Pharmaceuticals 0.4% | ||
Becton Dickinson and Co. | ||
4.669%, due 6/6/47 | 1,635,000 | 1,587,664 |
CVS Health Corp. | ||
4.78%, due 3/25/38 | 1,110,000 | 1,097,718 |
Principal Amount | Value | |
Pharmaceuticals (continued) | ||
Teva Pharmaceutical Finance Netherlands III BV (Israel) | ||
3.15%, due 10/1/26 | $ 2,995,000 | $ 2,568,272 |
4.75%, due 5/9/27 | 1,335,000 | 1,221,525 |
6,475,179 | ||
Pipelines 1.2% | ||
Cheniere Corpus Christi Holdings LLC | ||
2.742%, due 12/31/39 | 1,580,000 | 1,285,928 |
DT Midstream, Inc. | ||
4.30%, due 4/15/32 (a) | 1,375,000 | 1,304,710 |
Energy Transfer LP | ||
4.95%, due 6/15/28 | 980,000 | 988,786 |
5.35%, due 5/15/45 | 1,000,000 | 915,849 |
Enterprise Products Operating LLC | ||
3.95%, due 1/31/60 | 1,460,000 | 1,183,080 |
4.20%, due 1/31/50 | 405,000 | 354,986 |
Flex Intermediate Holdco LLC | ||
3.363%, due 6/30/31 (a) | 2,030,000 | 1,782,555 |
Hess Midstream Operations LP (a) | ||
4.25%, due 2/15/30 | 320,000 | 293,533 |
5.50%, due 10/15/30 | 1,185,000 | 1,167,569 |
Holly Energy Partners LP | ||
6.375%, due 4/15/27 (a) | 760,000 | 775,200 |
MPLX LP | ||
2.65%, due 8/15/30 | 1,705,000 | 1,463,395 |
4.875%, due 6/1/25 | 100,000 | 101,996 |
Spectra Energy Partners LP | ||
4.75%, due 3/15/24 (d) | 1,740,000 | 1,775,948 |
Targa Resources Corp. | ||
4.20%, due 2/1/33 | 800,000 | 758,213 |
Transcontinental Gas Pipe Line Co. LLC | ||
4.60%, due 3/15/48 | 2,340,000 | 2,207,444 |
Western Midstream Operating LP | ||
5.75%, due 2/1/50 (c) | 860,000 | 757,797 |
17,116,989 | ||
Real Estate 0.1% | ||
Realogy Group LLC (a) | ||
5.25%, due 4/15/30 | 1,310,000 | 1,061,349 |
5.75%, due 1/15/29 | 1,305,000 | 1,093,942 |
2,155,291 | ||
Real Estate Investment Trusts 1.3% | ||
Alexandria Real Estate Equities, Inc. | ||
3.375%, due 8/15/31 | 1,290,000 | 1,194,075 |
American Tower Corp. | ||
3.375%, due 10/15/26 | 1,920,000 | 1,843,961 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Real Estate Investment Trusts (continued) | ||
American Tower Corp. (continued) | ||
3.60%, due 1/15/28 | $ 1,025,000 | $ 972,087 |
Digital Realty Trust LP | ||
4.45%, due 7/15/28 (d) | 2,255,000 | 2,255,578 |
Equinix, Inc. | ||
1.25%, due 7/15/25 (d) | 1,645,000 | 1,513,352 |
2.625%, due 11/18/24 | 1,820,000 | 1,771,315 |
GLP Capital LP | ||
3.35%, due 9/1/24 | 1,280,000 | 1,259,462 |
Invitation Homes Operating Partnership LP | ||
2.00%, due 8/15/31 | 1,600,000 | 1,280,998 |
Iron Mountain, Inc. | ||
5.25%, due 7/15/30 (a) | 1,690,000 | 1,548,953 |
Kilroy Realty LP | ||
3.45%, due 12/15/24 (d) | 1,090,000 | 1,072,929 |
Office Properties Income Trust | ||
2.40%, due 2/1/27 | 1,335,000 | 1,154,078 |
Starwood Property Trust, Inc. (a)(d) | ||
3.75%, due 12/31/24 | 1,695,000 | 1,631,115 |
4.375%, due 1/15/27 | 1,415,000 | 1,320,039 |
18,817,942 | ||
Retail 0.9% | ||
AutoNation, Inc. | ||
4.75%, due 6/1/30 | 2,430,000 | 2,393,158 |
McDonald's Corp. | ||
3.35%, due 4/1/23 | 2,875,000 | 2,894,461 |
Nordstrom, Inc. (d) | ||
4.00%, due 3/15/27 | 1,520,000 | 1,408,648 |
4.25%, due 8/1/31 | 1,260,000 | 1,067,959 |
QVC, Inc. | ||
4.375%, due 9/1/28 | 2,655,000 | 2,255,980 |
Starbucks Corp. | ||
4.45%, due 8/15/49 | 1,025,000 | 946,687 |
Victoria's Secret & Co. | ||
4.625%, due 7/15/29 (a) | 1,830,000 | 1,501,259 |
12,468,152 | ||
Software 0.3% | ||
Fiserv, Inc. | ||
3.20%, due 7/1/26 | 525,000 | 508,450 |
MSCI, Inc. | ||
3.25%, due 8/15/33 (a) | 2,195,000 | 1,854,775 |
Oracle Corp. | ||
3.65%, due 3/25/41 | 575,000 | 445,321 |
Principal Amount | Value | |
Software (continued) | ||
salesforce.com, Inc. | ||
3.25%, due 4/11/23 | $ 1,300,000 | $ 1,308,916 |
4,117,462 | ||
Telecommunications 1.2% | ||
Altice France SA | ||
5.125%, due 7/15/29 (France) (a) | 2,100,000 | 1,777,776 |
AT&T, Inc. | ||
3.50%, due 9/15/53 | 2,184,000 | 1,709,862 |
Level 3 Financing, Inc. | ||
3.40%, due 3/1/27 (a) | 2,545,000 | 2,290,500 |
Sprint Spectrum Co. LLC | ||
4.738%, due 3/20/25 (a) | 3,127,500 | 3,151,231 |
T-Mobile US, Inc. | ||
2.625%, due 2/15/29 | 2,335,000 | 2,018,514 |
3.50%, due 4/15/31 (a) | 1,180,000 | 1,045,869 |
VEON Holdings BV | ||
4.95%, due 6/16/24 (Netherlands) (a) | 1,535,000 | 1,028,450 |
Verizon Communications, Inc. | ||
1.606% (3 Month LIBOR + 1.10%), due 5/15/25 (b) | 2,705,000 | 2,735,114 |
4.016%, due 12/3/29 | 1,970,000 | 1,927,292 |
17,684,608 | ||
Total Corporate Bonds (Cost $398,132,680) | 363,112,028 | |
Foreign Government Bonds 0.9% | ||
Brazil 0.2% | ||
Brazil Government Bond | ||
3.75%, due 9/12/31 (d) | 2,295,000 | 1,980,585 |
Federative Republic of Brazil | ||
4.625%, due 1/13/28 | 1,113,000 | 1,083,739 |
3,064,324 | ||
Chile 0.3% | ||
Chile Government Bond | ||
2.55%, due 7/27/33 | 2,580,000 | 2,150,585 |
Empresa Nacional del Petroleo | ||
3.45%, due 9/16/31 (a) | 2,340,000 | 1,977,300 |
4,127,885 | ||
Colombia 0.1% | ||
Colombia Government Bond | ||
3.25%, due 4/22/32 | 1,780,000 | 1,359,688 |
4.50%, due 1/28/26 | 560,000 | 536,262 |
1,895,950 |
20 | MainStay Income Builder Fund |
Principal Amount | Value | |
Foreign Government Bonds (continued) | ||
Mexico 0.3% | ||
Comision Federal de Electricidad | ||
3.875%, due 7/26/33 (a) | $ 2,755,000 | $ 2,211,753 |
Mexico Government Bond | ||
2.659%, due 5/24/31 | 677,000 | 567,272 |
3.75%, due 4/19/71 | 1,860,000 | 1,277,820 |
4,056,845 | ||
Total Foreign Government Bonds (Cost $15,945,974) | 13,145,004 | |
Loan Assignments 0.7% | ||
Containers, Packaging & Glass 0.2% | ||
Mauser Packaging Solutions Holding Co. | ||
Initial Term Loan | ||
3.705% (1 Month LIBOR + 3.25%), due 4/3/24 (b) | 3,084,054 | 3,021,411 |
Diversified/Conglomerate Service 0.1% | ||
TruGreen LP (b) | ||
First Lien Second Refinancing Term Loan | ||
4.764% (1 Month LIBOR + 4.00%), due 11/2/27 | 1,328,187 | 1,321,132 |
Second Lien Initial Term Loan | ||
9.264% (1 Month LIBOR + 8.50%), due 11/2/28 | 580,000 | 581,450 |
1,902,582 | ||
Finance 0.2% | ||
Alliant Holdings Intermediate LLC | ||
2018 Initial Term Loan | ||
4.014% (1 Month LIBOR + 3.25%), due 5/9/25 (b) | 3,075,127 | 3,043,991 |
Telecommunications 0.2% | ||
Level 3 Financing, Inc. | ||
Tranche 2027 Term Loan B | ||
2.514% (1 Month LIBOR + 1.75%), due 3/1/27 (b) | 2,142,032 | 2,067,596 |
Total Loan Assignments (Cost $10,143,154) | 10,035,580 |
Principal Amount | Value | |
Mortgage-Backed Securities 8.2% | ||
Agency (Collateralized Mortgage Obligations) 2.6% | ||
FHLMC | ||
REMIC, Series 5073, Class DG | ||
1.50%, due 8/25/38 | $ 1,167,669 | $ 1,161,513 |
REMIC, Series 5038, Class KA | ||
1.50%, due 11/25/50 | 2,445,227 | 2,018,805 |
REMIC, Series 5011, Class MI | ||
3.00%, due 9/25/50 (h) | 1,941,676 | 319,243 |
REMIC, Series 5023, Class LI | ||
3.00%, due 10/25/50 (h) | 1,458,037 | 237,561 |
REMIC, Series 5094, Class IP | ||
3.00%, due 4/25/51 (h) | 1,578,672 | 240,793 |
REMIC, Series 5160, Class IO | ||
3.00%, due 10/25/51 (h) | 1,299,996 | 150,735 |
FHLMC, Strips | ||
Series 358, Class PO | ||
(zero coupon), due 10/15/47 | 3,937,954 | 3,355,292 |
Series 377, Class C4 | ||
2.00%, due 1/25/51 (h) | 1,318,899 | 169,104 |
FNMA | ||
REMIC, Series 2022-3, Class YS | ||
2.261% (SOFR 30A + 2.55%), due 2/25/52 (b)(h) | 10,080,000 | 368,788 |
REMIC, Series 2021-33, Class AI | ||
2.50%, due 5/25/47 (h) | 6,162,241 | 799,407 |
REMIC, Series 2021-34, Class MI | ||
2.50%, due 3/25/51 (h) | 4,046,588 | 537,512 |
REMIC, Series 2013-77, Class CY | ||
3.00%, due 7/25/43 | 1,488,654 | 1,427,088 |
REMIC, Series 2021-53, Class GI | ||
3.00%, due 7/25/48 (h) | 5,445,511 | 890,548 |
REMIC, Series 2019-13, Class PE | ||
3.00%, due 3/25/49 | 899,545 | 871,110 |
REMIC, Series 2021-85, Class BI | ||
3.00%, due 12/25/51 (h) | 4,369,438 | 657,728 |
REMIC, Series 2019-13, Class CA | ||
3.50%, due 4/25/49 | 1,663,947 | 1,655,099 |
REMIC, Series 2021-12, Class GC | ||
3.50%, due 7/25/50 | 1,798,248 | 1,761,506 |
REMIC, Series 2020-10, Class DA | ||
3.50%, due 3/25/60 | 1,841,635 | 1,821,973 |
GNMA | ||
Series 2020-115, Class YA | ||
1.00%, due 8/20/50 | 1,899,835 | 1,583,766 |
Series 2020-129, Class AG | ||
1.00%, due 9/20/50 | 2,635,889 | 2,226,031 |
Series 2020-166, Class CA | ||
1.00%, due 11/20/50 | 1,752,537 | 1,398,954 |
Principal Amount | Value | |
Mortgage-Backed Securities (continued) | ||
Agency (Collateralized Mortgage Obligations) (continued) | ||
GNMA (continued) | ||
Series 2021-105, Class DB | ||
1.00%, due 6/20/51 | $ 1,842,450 | $ 1,568,621 |
Series 2020-166, Class IC | ||
2.00%, due 11/20/50 (h) | 876,268 | 104,072 |
Series 2020-188, Class IO | ||
2.00%, due 12/20/50 (h) | 3,883,290 | 408,320 |
Series 2020-188, Class DI | ||
2.50%, due 12/20/50 (h) | 6,610,212 | 977,860 |
Series 2021-25, Class LI | ||
2.50%, due 2/20/51 (h) | 5,845,482 | 769,716 |
Series 2021-30, Class WI | ||
2.50%, due 2/20/51 (h) | 7,145,896 | 1,071,520 |
Series 2021-105, Class IE | ||
2.50%, due 6/20/51 (h) | 1,630,112 | 201,126 |
Series 2021-44, Class IQ | ||
3.00%, due 3/20/51 (h) | 5,973,293 | 999,632 |
Series 2021-74, Class HI | ||
3.00%, due 4/20/51 (h) | 6,215,682 | 916,681 |
Series 2021-98, Class KI | ||
3.00%, due 6/20/51 (h) | 4,406,797 | 653,405 |
Series 2021-136, Class TI | ||
3.00%, due 8/20/51 (h) | 4,149,789 | 687,183 |
Series 2021-139, Class IA | ||
3.00%, due 8/20/51 (h) | 5,537,055 | 916,169 |
Series 2021-158, Class NI | ||
3.00%, due 9/20/51 (h) | 6,716,093 | 1,131,599 |
Series 2021-177, Class IM | ||
3.00%, due 10/20/51 (h) | 3,642,381 | 557,590 |
Series 2013-149, Class BA | ||
3.25%, due 8/16/41 | 3,901,540 | 3,822,598 |
38,438,648 | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) 3.3% | ||
Arbor Multifamily Mortgage Securities Trust (a) | ||
Series 2021-MF2, Class AS | ||
2.70%, due 6/15/54 (i) | 1,770,000 | 1,583,559 |
Series 2021-MF3, Class AS | ||
2.748%, due 10/15/54 | 2,200,000 | 1,925,141 |
Series 2022-MF4, Class A5 | ||
3.403%, due 2/15/55 (i) | 1,665,000 | 1,561,930 |
Bayview Commercial Asset Trust | ||
Series 2006-4A, Class A1 | ||
1.013% (1 Month LIBOR + 0.345%), due 12/25/36 (a)(b) | 47,126 | 44,866 |
Principal Amount | Value | |
Commercial Mortgage Loans (Collateralized Mortgage Obligations) (continued) | ||
Benchmark Mortgage Trust | ||
Series 2020-B19, Class A2 | ||
1.691%, due 9/15/53 | $ 1,775,000 | $ 1,656,969 |
BX Commercial Mortgage Trust (a) | ||
Series 2021-XL2, Class A | ||
1.243% (1 Month LIBOR + 0.689%), due 10/15/38 (b) | 1,346,381 | 1,311,857 |
Series 2021-VOLT, Class C | ||
1.654% (1 Month LIBOR + 1.10%), due 9/15/36 (b) | 2,310,000 | 2,231,157 |
Series 2021-ACNT, Class D | ||
2.405% (1 Month LIBOR + 1.85%), due 11/15/38 (b) | 2,410,000 | 2,350,812 |
Series 2020-VIV2, Class C | ||
3.66%, due 3/9/44 (j) | 2,295,000 | 2,032,952 |
Series 2020-VIV3, Class B | ||
3.662%, due 3/9/44 (j) | 1,092,236 | 998,892 |
Series 2020-VIVA, Class D | ||
3.667%, due 3/11/44 (j) | 295,000 | 254,636 |
BX Trust (a) | ||
Series 2021-LBA, Class AV | ||
1.355% (1 Month LIBOR + 0.80%), due 2/15/36 (b) | 1,910,000 | 1,862,848 |
Series 2021-ARIA, Class E | ||
2.798% (1 Month LIBOR + 2.245%), due 10/15/36 (b) | 3,500,000 | 3,399,051 |
Series 2019-OC11, Class B | ||
3.605%, due 12/9/41 | 250,000 | 232,111 |
Series 2019-OC11, Class C | ||
3.856%, due 12/9/41 | 570,000 | 520,347 |
Series 2019-OC11, Class D | ||
4.075%, due 12/9/41 (j) | 1,255,000 | 1,121,113 |
BXHPP Trust | ||
Series 2021-FILM, Class B | ||
1.454% (1 Month LIBOR + 0.90%), due 8/15/36 (a)(b) | 1,280,000 | 1,227,276 |
Citigroup Commercial Mortgage Trust | ||
Series 2016-GC36, Class A5 | ||
3.616%, due 2/10/49 | 560,000 | 553,954 |
Extended Stay America Trust (a)(b) | ||
Series 2021-ESH, Class C | ||
2.255% (1 Month LIBOR + 1.70%), due 7/15/38 | 2,300,839 | 2,264,973 |
Series 2021-ESH, Class D | ||
2.805% (1 Month LIBOR + 2.25%), due 7/15/38 | 1,480,886 | 1,454,151 |
22 | MainStay Income Builder Fund |
Principal Amount | Value | |
Mortgage-Backed Securities (continued) | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) (continued) | ||
FREMF Mortgage Trust (a)(j) | ||
Series 2019-K98, Class C | ||
3.862%, due 10/25/52 | $ 780,000 | $ 732,813 |
Series 2017-K71, Class B | ||
3.881%, due 11/25/50 | 607,208 | 588,893 |
Series 2017-K63, Class C | ||
4.008%, due 2/25/50 | 1,700,000 | 1,639,311 |
Series 2019-K94, Class B | ||
4.101%, due 7/25/52 | 1,175,000 | 1,139,875 |
Series 2018-K86, Class C | ||
4.437%, due 11/25/51 | 700,000 | 684,403 |
Hudson Yards Mortgage Trust | ||
Series 2019-30HY, Class A | ||
3.228%, due 7/10/39 (a) | 1,400,000 | 1,319,474 |
Manhattan West Mortgage Trust | ||
Series 2020-1MW, Class A | ||
2.13%, due 9/10/39 (a) | 2,910,000 | 2,632,383 |
Morgan Stanley Bank of America Merrill Lynch Trust | ||
Series 2016-C28, Class A4 | ||
3.544%, due 1/15/49 | 560,000 | 551,997 |
Morgan Stanley Capital I Trust | ||
Series 2015-UBS8, Class A4 | ||
3.809%, due 12/15/48 | 830,000 | 824,837 |
One Bryant Park Trust | ||
Series 2019-OBP, Class A | ||
2.516%, due 9/15/54 (a) | 3,570,000 | 3,194,861 |
Wells Fargo Commercial Mortgage Trust (a)(j) | ||
Series 2018-1745, Class A | ||
3.874%, due 6/15/36 | 2,305,000 | 2,206,339 |
Series 2018-AUS, Class A | ||
4.194%, due 8/17/36 | 3,220,000 | 3,177,641 |
47,281,422 | ||
Whole Loan (Collateralized Mortgage Obligations) 2.3% | ||
FHLMC STACR REMIC Trust (a)(b) | ||
Series 2022-DNA1, Class M1B | ||
2.139% (SOFR 30A + 1.85%), due 1/25/42 | 1,845,000 | 1,762,156 |
Series 2020-DNA6, Class M2 | ||
2.289% (SOFR 30A + 2.00%), due 12/25/50 | 2,975,000 | 2,955,085 |
Series 2022-DNA3, Class M1B | ||
3.151% (SOFR 30A + 2.90%), due 4/25/42 | 1,715,000 | 1,716,086 |
Principal Amount | Value | |
Whole Loan (Collateralized Mortgage Obligations) (continued) | ||
FHLMC STACR REMIC Trust (a)(b) (continued) | ||
Series 2021-DNA5, Class B1 | ||
3.339% (SOFR 30A + 3.05%), due 1/25/34 | $ 4,090,000 | $ 3,864,726 |
FHLMC STACR Trust (a)(b) | ||
Series 2018-DNA2, Class M2 | ||
2.818% (1 Month LIBOR + 2.15%), due 12/25/30 | 1,482,387 | 1,493,492 |
Series 2018-DNA2, Class B1 | ||
4.368% (1 Month LIBOR + 3.70%), due 12/25/30 | 1,340,000 | 1,311,193 |
FHLMC Structured Agency Credit Risk Debt Notes | ||
Series 2022-DNA2, Class M2 | ||
4.039% (SOFR 30A + 3.75%), due 2/25/42 (a)(b) | 1,820,000 | 1,792,746 |
FNMA | ||
Series 2017-C01, Class 1M2 | ||
4.218% (1 Month LIBOR + 3.55%), due 7/25/29 (b) | 2,402,246 | 2,488,074 |
GS Mortgage-Backed Securities Corp. Trust (a)(i) | ||
Series 2021-PJ5, Class A8 | ||
2.50%, due 10/25/51 | 1,258,505 | 1,166,922 |
Series 2021-PJ7, Class A2 | ||
2.50%, due 1/25/52 | 2,750,448 | 2,429,251 |
J.P. Morgan Mortgage Trust (a)(i) | ||
Series 2021-7, Class A4 | ||
2.50%, due 11/25/51 | 1,440,473 | 1,338,174 |
Series 2021-LTV2, Class A1 | ||
2.519%, due 5/25/52 | 2,027,866 | 1,797,910 |
Mello Mortgage Capital Acceptance | ||
Series 2021-MTG2, Class A1 | ||
2.50%, due 6/25/51 (a)(i) | 2,174,266 | 1,906,644 |
Mello Warehouse Securitization Trust | ||
Series 2021-2, Class A | ||
1.418% (1 Month LIBOR + 0.75%), due 4/25/55 (a)(b) | 1,230,000 | 1,215,915 |
New Residential Mortgage Loan Trust (a) | ||
Series 2019-5A, Class B7 | ||
4.403%, due 8/25/59 (j) | 2,960,918 | 2,102,117 |
Series 2019-2A, Class B6 | ||
4.929%, due 12/25/57 (i) | 934,319 | 684,655 |
Principal Amount | Value | |
Mortgage-Backed Securities (continued) | ||
Whole Loan (Collateralized Mortgage Obligations) (continued) | ||
NewRez Warehouse Securitization Trust | ||
Series 2021-1, Class A | ||
1.418% (1 Month LIBOR + 0.75%), due 5/25/55 (a)(b) | $ 1,565,000 | $ 1,552,930 |
STACR Trust | ||
Series 2018-HRP2, Class B1 | ||
4.868% (1 Month LIBOR + 4.20%), due 2/25/47 (a)(b) | 1,900,000 | 1,888,279 |
33,466,355 | ||
Total Mortgage-Backed Securities (Cost $125,259,259) | 119,186,425 | |
Municipal Bond 0.1% | ||
California 0.1% | ||
Regents of the University of California Medical Center, Pooled, Revenue Bonds | ||
Series N | ||
3.006%, due 5/15/50 | 2,700,000 | 2,132,035 |
Total Municipal Bond (Cost $2,700,000) | 2,132,035 | |
U.S. Government & Federal Agencies 3.9% | ||
Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.9% | ||
FHLMC | ||
1.55%, due 11/20/31 | 2,100,000 | 1,815,149 |
UMBS, 20 Year | ||
2.00%, due 4/1/42 | 2,842,892 | 2,553,675 |
2.50%, due 4/1/42 | 981,394 | 909,573 |
UMBS, 30 Year | ||
2.50%, due 10/1/51 | 669,292 | 611,495 |
3.00%, due 3/1/52 | 1,975,994 | 1,872,021 |
3.00%, due 4/1/52 | 4,259,974 | 4,031,556 |
3.50%, due 7/1/50 | 1,268,523 | 1,235,689 |
13,029,158 | ||
Federal National Mortgage Association (Mortgage Pass-Through Securities) 1.4% | ||
FNMA, Other | ||
3.50%, due 2/1/42 | 1,629,637 | 1,598,876 |
UMBS, 20 Year | ||
2.50%, due 5/1/41 | 757,043 | 702,095 |
2.50%, due 4/1/42 | 1,056,978 | 979,941 |
Principal Amount | Value | |
Federal National Mortgage Association (Mortgage Pass-Through Securities) (continued) | ||
UMBS, 30 Year | ||
2.50%, due 8/1/50 | $ 192,187 | $ 175,988 |
2.50%, due 10/1/50 | 153,896 | 140,762 |
2.50%, due 11/1/50 | 1,057,850 | 971,518 |
2.50%, due 1/1/51 | 949,849 | 869,248 |
2.50%, due 8/1/51 | 1,697,855 | 1,555,196 |
3.00%, due 6/1/51 | 899,069 | 850,865 |
3.00%, due 11/1/51 | 1,339,771 | 1,267,930 |
3.00%, due 2/1/52 | 4,415,641 | 4,176,659 |
3.00%, due 2/1/52 | 2,167,823 | 2,049,247 |
3.00%, due 3/1/52 | 1,612,507 | 1,526,031 |
3.00%, due 3/1/52 | 2,013,361 | 1,905,387 |
4.00%, due 8/1/48 | 1,861,860 | 1,860,412 |
4.00%, due 2/1/49 | 340,349 | 342,216 |
20,972,371 | ||
Government National Mortgage Association (Mortgage Pass-Through Securities) 0.2% | ||
GNMA I, Single-family, 30 Yea | ||
6.50%, due 8/15/29 | 5 | 5 |
GNMA I, Single-family, 30 Year | ||
6.50%, due 4/15/29 | 8 | 9 |
GNMA II, Other | ||
2.50%, due 1/20/50 | 672,819 | 620,338 |
2.50%, due 5/20/50 | 1,682,174 | 1,536,515 |
2,156,867 | ||
United States Treasury Bonds 1.2% | ||
U.S. Treasury Bonds | ||
2.25%, due 2/15/52 | 1,865,000 | 1,601,277 |
2.375%, due 2/15/42 | 18,560,000 | 16,399,500 |
18,000,777 | ||
United States Treasury Inflation - Indexed Note 0.2% | ||
U.S. Treasury Inflation Linked Notes | ||
0.875%, due 1/15/29 (k) | 3,185,463 | 3,409,648 |
Total U.S. Government & Federal Agencies (Cost $61,511,908) | 57,568,821 | |
Total Long-Term Bonds (Cost $676,904,951) | 623,753,183 | |
Shares | ||
Common Stocks 53.8% | ||
Aerospace & Defense 1.2% | ||
BAE Systems plc (United Kingdom) | 560,158 | 5,217,607 |
24 | MainStay Income Builder Fund |
Shares | Value | |
Common Stocks (continued) | ||
Aerospace & Defense (continued) | ||
Lockheed Martin Corp. | 10,701 | $ 4,624,116 |
Raytheon Technologies Corp. | 81,560 | 7,740,860 |
17,582,583 | ||
Air Freight & Logistics 0.9% | ||
Deutsche Post AG (Registered) (Germany) | 152,194 | 6,569,837 |
United Parcel Service, Inc., Class B | 38,551 | 6,938,409 |
13,508,246 | ||
Auto Components 0.6% | ||
Bridgestone Corp. (Japan) | 130,400 | 4,772,791 |
Cie Generale des Etablissements Michelin SCA (France) | 33,615 | 4,155,634 |
8,928,425 | ||
Automobiles 0.3% | ||
Toyota Motor Corp. (Japan) | 230,400 | 3,926,007 |
Banks 2.3% | ||
Bank of America Corp. | 203,895 | 7,274,974 |
JPMorgan Chase & Co. | 68,533 | 8,180,099 |
PNC Financial Services Group, Inc. (The) | 29,909 | 4,967,885 |
Royal Bank of Canada (Canada) | 89,858 | 9,075,682 |
Truist Financial Corp. | 89,055 | 4,305,809 |
33,804,449 | ||
Beverages 1.4% | ||
Coca-Cola Co. (The) | 124,908 | 8,070,306 |
Coca-Cola Europacific Partners plc (United Kingdom) | 255,309 | 12,752,684 |
20,822,990 | ||
Biotechnology 0.9% | ||
AbbVie, Inc. | 64,176 | 9,426,171 |
Amgen, Inc. | 18,329 | 4,274,139 |
13,700,310 | ||
Capital Markets 0.3% | ||
Lazard Ltd., Class A (d) | 148,791 | 4,875,881 |
Chemicals 2.7% | ||
Air Products and Chemicals, Inc. | 21,724 | 5,084,936 |
BASF SE (Germany) (l) | 76,896 | 4,087,602 |
Dow, Inc. | 78,078 | 5,192,187 |
Linde plc (United Kingdom) | 29,778 | 9,289,545 |
LyondellBasell Industries NV, Class A | 46,958 | 4,978,957 |
Shares | Value | |
Chemicals (continued) | ||
Nutrien Ltd. (Canada) | 104,270 | $ 10,244,527 |
38,877,754 | ||
Commercial Services & Supplies 0.0% ‡ | ||
Quad/Graphics, Inc. (l) | 10 | 68 |
Communications Equipment 1.0% | ||
Cisco Systems, Inc. | 291,813 | 14,293,001 |
Consumer Finance 0.4% | ||
Ally Financial, Inc. | 163,786 | 6,544,889 |
Diversified Telecommunication Services 2.6% | ||
AT&T, Inc. | 315,261 | 5,945,822 |
Deutsche Telekom AG (Registered) (Germany) | 666,313 | 12,273,248 |
Orange SA (France) | 509,217 | 6,064,861 |
Telenor ASA (Norway) | 347,455 | 4,902,614 |
TELUS Corp. (Canada) | 193,622 | 4,844,130 |
Verizon Communications, Inc. | 88,055 | 4,076,946 |
38,107,621 | ||
Electric Utilities 2.2% | ||
American Electric Power Co., Inc. | 95,029 | 9,418,324 |
Duke Energy Corp. | 42,124 | 4,640,380 |
Entergy Corp. | 40,210 | 4,778,959 |
Evergy, Inc. | 63,927 | 4,337,447 |
Fortis, Inc. (Canada) | 93,988 | 4,573,378 |
NextEra Energy, Inc. | 60,415 | 4,290,673 |
32,039,161 | ||
Electrical Equipment 2.0% | ||
Eaton Corp. plc | 53,571 | 7,768,866 |
Emerson Electric Co. | 172,936 | 15,595,369 |
Hubbell, Inc. | 32,893 | 6,425,976 |
29,790,211 | ||
Equity Real Estate Investment Trusts 1.6% | ||
American Tower Corp. | 17,873 | 4,307,751 |
Iron Mountain, Inc. | 97,901 | 5,260,221 |
Realty Income Corp. | 64,959 | 4,505,556 |
Welltower, Inc. | 53,062 | 4,818,560 |
WP Carey, Inc. | 56,635 | 4,574,409 |
23,466,497 | ||
Food & Staples Retailing 0.6% | ||
Walmart, Inc. | 55,732 | 8,526,439 |
Shares | Value | |
Common Stocks (continued) | ||
Food Products 1.0% | ||
Danone SA (France) | 74,494 | $ 4,478,390 |
Nestle SA (Registered) (Switzerland) | 47,397 | 6,119,212 |
Orkla ASA (Norway) (d) | 500,887 | 4,074,322 |
14,671,924 | ||
Gas Utilities 0.6% | ||
China Resources Gas Group Ltd. (China) | 1,198,000 | 4,515,860 |
Snam SpA (Italy) | 756,026 | 4,148,859 |
8,664,719 | ||
Health Care Equipment & Supplies 0.9% | ||
Medtronic plc | 127,002 | 13,253,929 |
Health Care Providers & Services 0.5% | ||
UnitedHealth Group, Inc. | 13,372 | 6,800,331 |
Hotels, Restaurants & Leisure 1.7% | ||
McDonald's Corp. | 21,399 | 5,331,775 |
Restaurant Brands International, Inc. (Canada) | 216,964 | 12,386,475 |
Vail Resorts, Inc. | 26,396 | 6,708,807 |
24,427,057 | ||
Household Durables 0.3% | ||
Leggett & Platt, Inc. | 126,040 | 4,490,805 |
Household Products 0.3% | ||
Procter & Gamble Co. (The) | 29,058 | 4,665,262 |
Industrial Conglomerates 0.9% | ||
Honeywell International, Inc. | 38,009 | 7,355,121 |
Siemens AG (Registered) (Germany) | 42,502 | 5,286,610 |
12,641,731 | ||
Insurance 3.8% | ||
Allianz SE (Registered) (Germany) | 27,113 | 6,175,398 |
Arthur J. Gallagher & Co. | 47,152 | 7,944,640 |
Assicurazioni Generali SpA (Italy) (d) | 212,413 | 4,008,684 |
AXA SA (France) | 180,922 | 4,790,031 |
Great-West Lifeco, Inc. (Canada) | 150,390 | 4,148,851 |
Manulife Financial Corp. (Canada) | 313,171 | 6,123,734 |
MetLife, Inc. | 120,514 | 7,915,360 |
Muenchener Rueckversicherungs-Gesellschaft AG (Registered) (Germany) | 17,201 | 4,116,026 |
Shares | Value | |
Insurance (continued) | ||
Tokio Marine Holdings, Inc. (Japan) | 74,600 | $ 4,025,772 |
Travelers Cos., Inc. (The) | 34,076 | 5,829,041 |
55,077,537 | ||
IT Services 1.1% | ||
International Business Machines Corp. | 122,048 | 16,135,966 |
Leisure Products 0.6% | ||
Hasbro, Inc. | 95,376 | 8,398,810 |
Machinery 0.5% | ||
Cummins, Inc. | 38,698 | 7,321,275 |
Media 0.8% | ||
Comcast Corp., Class A | 166,689 | 6,627,555 |
Omnicom Group, Inc. | 62,840 | 4,784,009 |
11,411,564 | ||
Multiline Retail 0.8% | ||
B&M European Value Retail SA (United Kingdom) | 589,802 | 3,616,163 |
Target Corp. | 36,096 | 8,253,350 |
11,869,513 | ||
Multi-Utilities 1.2% | ||
Ameren Corp. | 49,329 | 4,582,664 |
National Grid plc (United Kingdom) | 291,355 | 4,331,915 |
NiSource, Inc. | 147,667 | 4,300,063 |
WEC Energy Group, Inc. | 45,353 | 4,537,568 |
17,752,210 | ||
Oil, Gas & Consumable Fuels 2.4% | ||
Chevron Corp. | 38,196 | 5,984,167 |
Enbridge, Inc. (Canada) | 103,020 | 4,495,622 |
Enterprise Products Partners LP | 322,506 | 8,356,130 |
Magellan Midstream Partners LP | 98,033 | 4,749,699 |
TotalEnergies SE (France) | 227,565 | 11,212,491 |
34,798,109 | ||
Personal Products 0.3% | ||
Unilever plc (United Kingdom) | 93,193 | 4,328,630 |
Pharmaceuticals 4.8% | ||
AstraZeneca plc, Sponsored ADR (United Kingdom) | 212,264 | 14,094,330 |
Bayer AG (Registered) (Germany) (l) | 84,308 | 5,556,968 |
Eli Lilly and Co. | 32,829 | 9,590,336 |
GlaxoSmithKline plc | 208,298 | 4,690,264 |
26 | MainStay Income Builder Fund |
Shares | Value | |
Common Stocks (continued) | ||
Pharmaceuticals (continued) | ||
Johnson & Johnson | 30,663 | $ 5,533,445 |
Merck & Co., Inc. | 98,270 | 8,715,566 |
Novartis AG (Registered) (Switzerland) | 74,133 | 6,558,356 |
Pfizer, Inc. | 80,208 | 3,935,806 |
Roche Holding AG (Switzerland) | 10,888 | 4,032,552 |
Sanofi (France) | 74,027 | 7,791,418 |
70,499,041 | ||
Professional Services 0.3% | ||
RELX plc (United Kingdom) | 147,660 | 4,402,204 |
Semiconductors & Semiconductor Equipment 4.5% | ||
Analog Devices, Inc. | 100,730 | 15,550,698 |
Broadcom, Inc. | 32,798 | 18,182,883 |
Intel Corp. | 134,460 | 5,861,111 |
KLA Corp. | 28,760 | 9,181,918 |
Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR (Taiwan) | 96,483 | 8,966,165 |
Texas Instruments, Inc. | 46,249 | 7,873,892 |
65,616,667 | ||
Software 1.1% | ||
Microsoft Corp. | 59,467 | 16,503,282 |
Specialty Retail 0.6% | ||
Home Depot, Inc. (The) | 15,996 | 4,805,199 |
Industria de Diseno Textil SA (Spain) (d) | 192,220 | 4,030,844 |
8,836,043 | ||
Technology Hardware, Storage & Peripherals 1.5% | ||
Apple, Inc. | 100,426 | 15,832,159 |
Samsung Electronics Co. Ltd., GDR (Republic of Korea) | 5,050 | 6,619,253 |
22,451,412 | ||
Textiles, Apparel & Luxury Goods 0.3% | ||
Hanesbrands, Inc. | 294,748 | 3,908,358 |
Tobacco 1.5% | ||
Altria Group, Inc. | 113,873 | 6,327,923 |
British American Tobacco plc (United Kingdom) | 190,851 | 8,043,046 |
Philip Morris International, Inc. | 69,763 | 6,976,300 |
21,347,269 |
Shares | Value | |
Trading Companies & Distributors 0.5% | ||
MSC Industrial Direct Co., Inc., Class A | 92,151 | $ 7,635,632 |
Total Common Stocks (Cost $674,982,188) | 786,703,812 | |
Short-Term Investments 3.4% | ||
Affiliated Investment Company 2.1% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (m) | 30,304,774 | 30,304,774 |
Unaffiliated Investment Companies 1.3% | ||
BlackRock Liquidity FedFund, 0.375% (m)(n) | 5,000,000 | 5,000,000 |
Invesco Government & Agency Portfolio, 0.419% (m)(n) | 13,574,108 | 13,574,108 |
Total Unaffiliated Investment Companies (Cost $18,574,108) | 18,574,108 | |
Total Short-Term Investments (Cost $48,878,882) | 48,878,882 | |
Total Investments (Cost $1,400,766,021) | 99.8% | 1,459,335,877 |
Other Assets, Less Liabilities | 0.2 | 3,469,680 |
Net Assets | 100.0% | $ 1,462,805,557 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(b) | Floating rate—Rate shown was the rate in effect as of April 30, 2022. |
(c) | Step coupon—Rate shown was the rate in effect as of April 30, 2022. |
(d) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $18,801,563; the total market value of collateral held by the Fund was $19,763,770. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $1,189,662. The Fund received cash collateral with a value of $18,574,108. (See Note 2(L)) |
(e) | Fixed to floating rate—Rate shown was the rate in effect as of April 30, 2022. |
(f) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(g) | Illiquid security—As of April 30, 2022, the total market value deemed illiquid under procedures approved by the Board of Trustees was $536,900, which represented less than one-tenth of a percent of the Fund’s net assets. |
(h) | Collateralized Mortgage Obligation Interest Only Strip—Pays a fixed or variable rate of interest based on mortgage loans or mortgage pass-through securities. The principal amount of the underlying pool represents the notional amount on which the current interest was calculated. The value of these stripped securities may be particularly sensitive to changes in prevailing interest rates and are typically more sensitive to changes in prepayment rates than traditional mortgage-backed securities. |
(i) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of April 30, 2022. |
(j) | Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was the rate in effect as of April 30, 2022. |
(k) | Treasury Inflation Protected Security—Pays a fixed rate of interest on a principal amount that is continuously adjusted for inflation based on the Consumer Price Index-Urban Consumers. |
(l) | Non-income producing security. |
(m) | Current yield as of April 30, 2022. |
(n) | Represents a security purchased with cash collateral received for securities on loan. |
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 87,328 | $ 364,906 | $ (421,929) | $ — | $ — | $ 30,305 | $ 6 | $ — | 30,305 |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||
EUR | 3,341,000 | USD | 3,538,603 | JPMorgan Chase Bank N.A. | 8/2/22 | $ 3,347 |
GBP | 32,460,000 | USD | 40,650,794 | JPMorgan Chase Bank N.A. | 8/2/22 | 184,905 |
USD | 16,557,107 | AUD | 23,293,000 | JPMorgan Chase Bank N.A. | 5/6/22 | 98,719 |
USD | 39,584,264 | JPY | 5,081,523,000 | JPMorgan Chase Bank N.A. | 5/6/22 | 424,168 |
Total Unrealized Appreciation | 711,139 |
28 | MainStay Income Builder Fund |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||
AUD | 23,293,000 | USD | 16,639,797 | JPMorgan Chase Bank N.A. | 5/6/22 | $ (181,409) |
AUD | 23,293,000 | USD | 16,579,492 | JPMorgan Chase Bank N.A. | 8/2/22 | (95,741) |
EUR | 2,351,000 | USD | 2,659,635 | JPMorgan Chase Bank N.A. | 5/6/22 | (179,160) |
EUR | 990,000 | USD | 1,124,678 | JPMorgan Chase Bank N.A. | 5/6/22 | (80,156) |
GBP | 30,915,000 | USD | 41,696,019 | JPMorgan Chase Bank N.A. | 5/6/22 | (2,822,191) |
GBP | 1,545,000 | USD | 2,098,476 | JPMorgan Chase Bank N.A. | 5/6/22 | (155,728) |
JPY | 5,081,523,000 | USD | 44,682,314 | JPMorgan Chase Bank N.A. | 5/6/22 | (5,522,218) |
JPY | 5,081,523,000 | USD | 39,732,426 | JPMorgan Chase Bank N.A. | 8/2/22 | (410,885) |
USD | 3,522,082 | EUR | 3,341,000 | JPMorgan Chase Bank N.A. | 5/6/22 | (2,914) |
USD | 40,634,045 | GBP | 32,460,000 | JPMorgan Chase Bank N.A. | 5/6/22 | (182,532) |
Total Unrealized Depreciation | (9,632,934) | |||||
Net Unrealized Depreciation | $ (8,921,795) |
1. | Foreign Currency Forward Contracts are subject to limitations such that they cannot be “sold or repurchased,” although the Fund would be able to exit the transaction through other means, such as through the execution of an offsetting transaction. |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Long Contracts | |||||
EURO STOXX 50 Index | 438 | June 2022 | $ 16,884,804 | $ 17,262,864 | $ 378,060 |
FTSE 100 Index | 100 | June 2022 | 8,926,980 | 9,447,222 | 520,242 |
Russell 2000 E-Mini Index | 451 | June 2022 | 44,517,082 | 41,972,315 | (2,544,767) |
S&P 500 E-Mini Index | 492 | June 2022 | 105,785,418 | 101,536,500 | (4,248,918) |
U.S. Treasury 2 Year Notes | 304 | June 2022 | 64,826,941 | 64,087,000 | (739,941) |
U.S. Treasury 5 Year Notes | 339 | June 2022 | 39,122,525 | 38,195,766 | (926,759) |
U.S. Treasury 10 Year Notes | 566 | June 2022 | 69,230,534 | 67,442,437 | (1,788,097) |
U.S. Treasury Long Bonds | 185 | June 2022 | 28,077,717 | 26,027,187 | (2,050,530) |
U.S. Treasury Ultra Bonds | 166 | June 2022 | 30,594,044 | 26,632,625 | (3,961,419) |
XAE Energy Index | 194 | June 2022 | 15,213,480 | 15,211,540 | (1,940) |
XAF Financial Index | 43 | June 2022 | 4,896,088 | 4,564,988 | (331,100) |
XAI E-Mini Industrial Equity Index | 477 | June 2022 | 47,103,750 | 45,687,060 | (1,416,690) |
Yen Denominated Nikkei 225 Index | 434 | June 2022 | 42,678,091 | 44,695,897 | 2,017,806 |
Total Long Contracts | (15,094,053) | ||||
Short Contracts | |||||
U.S. Treasury 10 Year Ultra Bonds | (229) | June 2022 | (30,111,763) | (29,541,000) | 570,763 |
Net Unrealized Depreciation | $ (14,523,290) |
1. | As of April 30, 2022, cash in the amount of $21,501,247 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of April 30, 2022. |
Abbreviation(s): |
ADR—American Depositary Receipt |
AUD—Australia Dollar |
EUR—Euro |
FHLMC—Federal Home Loan Mortgage Corp. |
FNMA—Federal National Mortgage Association |
FREMF—Freddie Mac Multifamily |
FTSE—Financial Times Stock Exchange |
GBP—British Pound Sterling |
GDR—Global Depositary Receipt |
GNMA—Government National Mortgage Association |
JPY—Japanese Yen |
LIBOR—London Interbank Offered Rate |
REMIC—Real Estate Mortgage Investment Conduit |
SOFR—Secured Overnight Financing Rate |
UMBS—Uniform Mortgage Backed Securities |
USD—United States Dollar |
30 | MainStay Income Builder Fund |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Long-Term Bonds | ||||
Asset-Backed Securities | $ — | $ 58,573,290 | $ — | $ 58,573,290 |
Corporate Bonds | — | 363,112,028 | — | 363,112,028 |
Foreign Government Bonds | — | 13,145,004 | — | 13,145,004 |
Loan Assignments | — | 10,035,580 | — | 10,035,580 |
Mortgage-Backed Securities | — | 119,186,425 | — | 119,186,425 |
Municipal Bond | — | 2,132,035 | — | 2,132,035 |
U.S. Government & Federal Agencies | — | 57,568,821 | — | 57,568,821 |
Total Long-Term Bonds | — | 623,753,183 | — | 623,753,183 |
Common Stocks | ||||
Aerospace & Defense | 12,364,976 | 5,217,607 | — | 17,582,583 |
Air Freight & Logistics | 6,938,409 | 6,569,837 | — | 13,508,246 |
Auto Components | — | 8,928,425 | — | 8,928,425 |
Automobiles | — | 3,926,007 | — | 3,926,007 |
Chemicals | 34,790,152 | 4,087,602 | — | 38,877,754 |
Diversified Telecommunication Services | 14,866,898 | 23,240,723 | — | 38,107,621 |
Food Products | — | 14,671,924 | — | 14,671,924 |
Gas Utilities | — | 8,664,719 | — | 8,664,719 |
Industrial Conglomerates | 7,355,121 | 5,286,610 | — | 12,641,731 |
Insurance | 31,961,626 | 23,115,911 | — | 55,077,537 |
Multiline Retail | 8,253,350 | 3,616,163 | — | 11,869,513 |
Multi-Utilities | 13,420,295 | 4,331,915 | — | 17,752,210 |
Oil, Gas & Consumable Fuels | 23,585,618 | 11,212,491 | — | 34,798,109 |
Personal Products | — | 4,328,630 | — | 4,328,630 |
Pharmaceuticals | 41,869,483 | 28,629,558 | — | 70,499,041 |
Professional Services | — | 4,402,204 | — | 4,402,204 |
Specialty Retail | 4,805,199 | 4,030,844 | — | 8,836,043 |
Technology Hardware, Storage & Peripherals | 15,832,159 | 6,619,253 | — | 22,451,412 |
Tobacco | 13,304,223 | 8,043,046 | — | 21,347,269 |
All Other Industries | 378,432,834 | — | — | 378,432,834 |
Total Common Stocks | 607,780,343 | 178,923,469 | — | 786,703,812 |
Short-Term Investments | ||||
Affiliated Investment Company | 30,304,774 | — | — | 30,304,774 |
Unaffiliated Investment Companies | 18,574,108 | — | — | 18,574,108 |
Total Short-Term Investments | 48,878,882 | — | — | 48,878,882 |
Total Investments in Securities | 656,659,225 | 802,676,652 | — | 1,459,335,877 |
Other Financial Instruments (b) | ||||
Foreign Currency Forward Contracts | — | 711,139 | — | 711,139 |
Futures Contracts | 3,486,871 | — | — | 3,486,871 |
Total Other Financial Instruments | 3,486,871 | 711,139 | — | 4,198,010 |
Total Investments in Securities and Other Financial Instruments | $ 660,146,096 | $ 803,387,791 | $ — | $ 1,463,533,887 |
Liability Valuation Inputs | ||||
Other Financial Instruments (b) | ||||
Foreign Currency Forward Contracts | $ — | $ (9,632,934) | $ — | $ (9,632,934) |
Futures Contracts | (18,010,161) | — | — | (18,010,161) |
Total Other Financial Instruments | $ (18,010,161) | $ (9,632,934) | $ — | $ (27,643,095) |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
32 | MainStay Income Builder Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $1,370,461,247) including securities on loan of $18,801,563 | $1,429,031,103 |
Investment in affiliated investment companies, at value (identified cost $30,304,774) | 30,304,774 |
Cash | 169,512 |
Cash denominated in foreign currencies (identified cost $86,543) | 84,144 |
Cash collateral on deposit at broker for futures contracts | 21,501,247 |
Receivables: | |
Investment securities sold | 24,079,900 |
Dividends and interest | 7,306,565 |
Fund shares sold | 990,184 |
Securities lending | 18,264 |
Unrealized appreciation on foreign currency forward contracts | 711,139 |
Other assets | 151,253 |
Total assets | 1,514,348,085 |
Liabilities | |
Cash collateral received for securities on loan | 18,574,108 |
Payables: | |
Investment securities purchased | 11,953,710 |
Variation margin on futures contracts | 8,426,519 |
Fund shares redeemed | 1,327,195 |
Manager (See Note 3) | 777,066 |
Transfer agent (See Note 3) | 324,928 |
NYLIFE Distributors (See Note 3) | 277,345 |
Custodian | 39,391 |
Professional fees | 14,154 |
Shareholder communication | 5,349 |
Trustees | 2,731 |
Accrued expenses | 567 |
Distributions payable | 186,531 |
Unrealized depreciation on foreign currency forward contracts | 9,632,934 |
Total liabilities | 51,542,528 |
Net assets | $1,462,805,557 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $784,777 |
Additional paid-in-capital | 1,449,276,815 |
1,450,061,592 | |
Total distributable earnings (loss) | 12,743,965 |
Net assets | $1,462,805,557 |
Class A | |
Net assets applicable to outstanding shares | $754,198,305 |
Shares of beneficial interest outstanding | 40,648,669 |
Net asset value per share outstanding | $18.55 |
Maximum sales charge (3.00% of offering price) | 0.57 |
Maximum offering price per share outstanding | $19.12 |
Investor Class | |
Net assets applicable to outstanding shares | $67,328,529 |
Shares of beneficial interest outstanding | 3,624,967 |
Net asset value per share outstanding | $18.57 |
Maximum sales charge (2.50% of offering price) | 0.48 |
Maximum offering price per share outstanding | $19.05 |
Class B | |
Net assets applicable to outstanding shares | $11,965,312 |
Shares of beneficial interest outstanding | 639,434 |
Net asset value and offering price per share outstanding | $18.71 |
Class C | |
Net assets applicable to outstanding shares | $102,174,077 |
Shares of beneficial interest outstanding | 5,471,881 |
Net asset value and offering price per share outstanding | $18.67 |
Class I | |
Net assets applicable to outstanding shares | $424,203,135 |
Shares of beneficial interest outstanding | 22,605,487 |
Net asset value and offering price per share outstanding | $18.77 |
Class R2 | |
Net assets applicable to outstanding shares | $2,636,634 |
Shares of beneficial interest outstanding | 142,121 |
Net asset value and offering price per share outstanding | $18.55 |
Class R3 | |
Net assets applicable to outstanding shares | $2,161,163 |
Shares of beneficial interest outstanding | 116,493 |
Net asset value and offering price per share outstanding | $18.55 |
Class R6 | |
Net assets applicable to outstanding shares | $98,104,321 |
Shares of beneficial interest outstanding | 5,226,835 |
Net asset value and offering price per share outstanding | $18.77 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $34,081 |
Shares of beneficial interest outstanding | 1,835 |
Net asset value and offering price per share outstanding | $18.57 |
Investment Income (Loss) | |
Income | |
Interest | $11,900,056 |
Dividends-unaffiliated (net of foreign tax withholding of $482,434) | 11,714,858 |
Securities lending | 57,389 |
Dividends-affiliated | 6,094 |
Total income | 23,678,397 |
Expenses | |
Manager (See Note 3) | 4,899,303 |
Distribution/Service—Class A (See Note 3) | 1,003,038 |
Distribution/Service—Investor Class (See Note 3) | 92,218 |
Distribution/Service—Class B (See Note 3) | 73,139 |
Distribution/Service—Class C (See Note 3) | 599,325 |
Distribution/Service—Class R2 (See Note 3) | 3,541 |
Distribution/Service—Class R3 (See Note 3) | 5,409 |
Distribution/Service—SIMPLE Class (See Note 3) | 85 |
Transfer agent (See Note 3) | 837,968 |
Registration | 79,239 |
Professional fees | 78,663 |
Shareholder communication | 66,615 |
Custodian | 50,546 |
Trustees | 17,249 |
Shareholder service (See Note 3) | 2,498 |
Miscellaneous | 52,408 |
Total expenses | 7,861,244 |
Net investment income (loss) | 15,817,153 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | 18,117,310 |
Futures transactions | (23,904,961) |
Foreign currency transactions | (319,002) |
Foreign currency forward transactions | (6,480,494) |
Net realized gain (loss) | (12,587,147) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (121,227,702) |
Futures contracts | (22,872,258) |
Foreign currency forward contracts | (5,446,177) |
Translation of other assets and liabilities in foreign currencies | (1,512,906) |
Net change in unrealized appreciation (depreciation) | (151,059,043) |
Net realized and unrealized gain (loss) | (163,646,190) |
Net increase (decrease) in net assets resulting from operations | $(147,829,037) |
34 | MainStay Income Builder Fund |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $15,817,153 | $32,924,972 |
Net realized gain (loss) | (12,587,147) | 123,184,175 |
Net change in unrealized appreciation (depreciation) | (151,059,043) | 123,462,686 |
Net increase (decrease) in net assets resulting from operations | (147,829,037) | 279,571,833 |
Distributions to shareholders: | ||
Class A | (51,087,163) | (18,176,751) |
Investor Class | (4,730,846) | (1,829,216) |
Class B | (904,186) | (282,317) |
Class C | (7,368,896) | (2,183,521) |
Class I | (30,893,904) | (13,104,698) |
Class R2 | (182,013) | (74,013) |
Class R3 | (127,666) | (40,509) |
Class R6 | (6,873,259) | (2,830,897) |
SIMPLE Class | (2,144) | (545) |
Total distributions to shareholders | (102,170,077) | (38,522,467) |
Capital share transactions: | ||
Net proceeds from sales of shares | 114,567,123 | 258,084,982 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 94,712,872 | 35,293,233 |
Cost of shares redeemed | (162,782,369) | (298,729,082) |
Increase (decrease) in net assets derived from capital share transactions | 46,497,626 | (5,350,867) |
Net increase (decrease) in net assets | (203,501,488) | 235,698,499 |
Net Assets | ||
Beginning of period | 1,666,307,045 | 1,430,608,546 |
End of period | $1,462,805,557 | $1,666,307,045 |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $21.75 | $18.61 | $19.96 | $18.51 | $19.97 | $18.30 |
Net investment income (loss) (a) | 0.20 | 0.43 | 0.44 | 0.54 | 0.52 | 0.48 |
Net realized and unrealized gain (loss) | (2.06) | 3.22 | (0.61) | 1.79 | (0.97) | 1.74 |
Total from investment operations | (1.86) | 3.65 | (0.17) | 2.33 | (0.45) | 2.22 |
Less distributions: | ||||||
From net investment income | (0.20) | (0.51) | (0.42) | (0.56) | (0.52) | (0.55) |
From net realized gain on investments | (1.14) | — | (0.76) | (0.32) | (0.49) | — |
Total distributions | (1.34) | (0.51) | (1.18) | (0.88) | (1.01) | (0.55) |
Net asset value at end of period | $18.55 | $21.75 | $18.61 | $19.96 | $18.51 | $19.97 |
Total investment return (b) | (9.09)% | 19.74% | (0.90)% | 13.09% | (2.38)% | 12.30% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.98%†† | 2.04% | 2.32% | 2.83% | 2.72% | 2.52% |
Net expenses (c) | 0.99%†† | 0.99% | 1.02% | 1.02% | 1.01% | 1.01% |
Portfolio turnover rate | 34% | 57%(d) | 65%(d) | 62%(d) | 44%(d) | 29% |
Net assets at end of period (in 000’s) | $754,198 | $818,764 | $638,250 | $625,049 | $571,206 | $652,333 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rates not including mortgage dollar rolls were 56%, 62%, 54% and 36% for the years ended October 31, 2021, 2020, 2019 and 2018, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $21.77 | $18.62 | $19.98 | $18.52 | $19.99 | $18.31 |
Net investment income (loss) (a) | 0.18 | 0.40 | 0.41 | 0.51 | 0.50 | 0.47 |
Net realized and unrealized gain (loss) | (2.06) | 3.22 | (0.62) | 1.80 | (0.98) | 1.73 |
Total from investment operations | (1.88) | 3.62 | (0.21) | 2.31 | (0.48) | 2.20 |
Less distributions: | ||||||
From net investment income | (0.18) | (0.47) | (0.39) | (0.53) | (0.50) | (0.52) |
From net realized gain on investments | (1.14) | — | (0.76) | (0.32) | (0.49) | — |
Total distributions | (1.32) | (0.47) | (1.15) | (0.85) | (0.99) | (0.52) |
Net asset value at end of period | $18.57 | $21.77 | $18.62 | $19.98 | $18.52 | $19.99 |
Total investment return (b) | (9.17)% | 19.56% | (1.11)% | 12.98% | (2.56)% | 12.19% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.79%†† | 1.88% | 2.16% | 2.70% | 2.59% | 2.45% |
Net expenses (c) | 1.18%†† | 1.18% | 1.17% | 1.16% | 1.13% | 1.14% |
Expenses (before waiver/reimbursement) (c) | 1.18%†† | 1.18% | 1.17% | 1.17% | 1.14% | 1.14% |
Portfolio turnover rate | 34% | 57%(d) | 65%(d) | 62%(d) | 44%(d) | 29% |
Net assets at end of period (in 000's) | $67,329 | $77,887 | $79,992 | $88,050 | $85,132 | $94,000 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rates not including mortgage dollar rolls were 56%, 62%, 54% and 36% for the years ended October 31, 2021, 2020, 2019 and 2018, respectively. |
36 | MainStay Income Builder Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $21.93 | $18.75 | $20.11 | $18.64 | $20.10 | $18.40 |
Net investment income (loss) (a) | 0.11 | 0.24 | 0.27 | 0.37 | 0.36 | 0.32 |
Net realized and unrealized gain (loss) | (2.08) | 3.25 | (0.62) | 1.81 | (0.98) | 1.74 |
Total from investment operations | (1.97) | 3.49 | (0.35) | 2.18 | (0.62) | 2.06 |
Less distributions: | ||||||
From net investment income | (0.11) | (0.31) | (0.25) | (0.39) | (0.35) | (0.36) |
From net realized gain on investments | (1.14) | — | (0.76) | (0.32) | (0.49) | — |
Total distributions | (1.25) | (0.31) | (1.01) | (0.71) | (0.84) | (0.36) |
Net asset value at end of period | $18.71 | $21.93 | $18.75 | $20.11 | $18.64 | $20.10 |
Total investment return (b) | (9.54)% | 18.69% | (1.84)% | 12.11% | (3.22)% | 11.27% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.03%†† | 1.13% | 1.42% | 1.96% | 1.85% | 1.67% |
Net expenses (c) | 1.93%†† | 1.93% | 1.92% | 1.91% | 1.88% | 1.89% |
Expenses (before waiver/reimbursement) (c) | 1.93%†† | 1.93% | 1.92% | 1.92% | 1.89% | 1.89% |
Portfolio turnover rate | 34% | 57%(d) | 65%(d) | 62%(d) | 44%(d) | 29% |
Net assets at end of period (in 000’s) | $11,965 | $16,789 | $19,409 | $26,396 | $30,343 | $39,475 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rates not including mortgage dollar rolls were 56%, 62%, 54% and 36% for the years ended October 31, 2021, 2020, 2019 and 2018, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $21.88 | $18.71 | $20.07 | $18.60 | $20.07 | $18.37 |
Net investment income (loss) (a) | 0.11 | 0.24 | 0.27 | 0.37 | 0.36 | 0.32 |
Net realized and unrealized gain (loss) | (2.07) | 3.24 | (0.62) | 1.81 | (0.99) | 1.74 |
Total from investment operations | (1.96) | 3.48 | (0.35) | 2.18 | (0.63) | 2.06 |
Less distributions: | ||||||
From net investment income | (0.11) | (0.31) | (0.25) | (0.39) | (0.35) | (0.36) |
From net realized gain on investments | (1.14) | — | (0.76) | (0.32) | (0.49) | — |
Total distributions | (1.25) | (0.31) | (1.01) | (0.71) | (0.84) | (0.36) |
Net asset value at end of period | $18.67 | $21.88 | $18.71 | $20.07 | $18.60 | $20.07 |
Total investment return (b) | (9.51)% | 18.68% | (1.85)% | 12.13% | (3.28)% | 11.35% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.04%†† | 1.13% | 1.42% | 1.95% | 1.85% | 1.65% |
Net expenses (c) | 1.93%†† | 1.93% | 1.92% | 1.91% | 1.88% | 1.89% |
Expenses (before waiver/reimbursement) (c) | 1.93%†† | 1.93% | 1.92% | 1.92% | 1.89% | 1.89% |
Portfolio turnover rate | 34% | 57%(d) | 65%(d) | 62%(d) | 44%(d) | 29% |
Net assets at end of period (in 000’s) | $102,174 | $132,596 | $148,220 | $191,737 | $212,400 | $266,592 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rates not including mortgage dollar rolls were 56%, 62%, 54% and 36% for the years ended October 31, 2021, 2020, 2019 and 2018, respectively. |
38 | MainStay Income Builder Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $21.99 | $18.80 | $20.16 | $18.68 | $20.15 | $18.46 |
Net investment income (loss) (a) | 0.23 | 0.49 | 0.49 | 0.59 | 0.58 | 0.54 |
Net realized and unrealized gain (loss) | (2.08) | 3.26 | (0.62) | 1.82 | (0.99) | 1.75 |
Total from investment operations | (1.85) | 3.75 | (0.13) | 2.41 | (0.41) | 2.29 |
Less distributions: | ||||||
From net investment income | (0.23) | (0.56) | (0.47) | (0.61) | (0.57) | (0.60) |
From net realized gain on investments | (1.14) | — | (0.76) | (0.32) | (0.49) | — |
Total distributions | (1.37) | (0.56) | (1.23) | (0.93) | (1.06) | (0.60) |
Net asset value at end of period | $18.77 | $21.99 | $18.80 | $20.16 | $18.68 | $20.15 |
Total investment return (b) | (8.97)% | 20.10% | (0.69)% | 13.41% | (2.17)% | 12.60% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 2.23%†† | 2.30% | 2.57% | 3.09% | 3.03% | 2.77% |
Net expenses (c) | 0.74%†† | 0.74% | 0.77% | 0.77% | 0.76% | 0.76% |
Portfolio turnover rate | 34% | 57%(d) | 65%(d) | 62%(d) | 44%(d) | 29% |
Net assets at end of period (in 000’s) | $424,203 | $505,806 | $448,922 | $484,614 | $499,675 | $766,054 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rates not including mortgage dollar rolls were 56%, 62%, 54% and 36% for the years ended October 31, 2021, 2020, 2019 and 2018, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R2 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $21.75 | $18.61 | $19.95 | $18.50 | $19.96 | $18.29 |
Net investment income (loss) (a) | 0.19 | 0.41 | 0.42 | 0.52 | 0.50 | 0.46 |
Net realized and unrealized gain (loss) | (2.06) | 3.22 | (0.59) | 1.79 | (0.97) | 1.74 |
Total from investment operations | (1.87) | 3.63 | (0.17) | 2.31 | (0.47) | 2.20 |
Less distributions: | ||||||
From net investment income | (0.19) | (0.49) | (0.41) | (0.54) | (0.50) | (0.53) |
From net realized gain on investments | (1.14) | — | (0.76) | (0.32) | (0.49) | — |
Total distributions | (1.33) | (0.49) | (1.17) | (0.86) | (0.99) | (0.53) |
Net asset value at end of period | $18.55 | $21.75 | $18.61 | $19.95 | $18.50 | $19.96 |
Total investment return (b) | (9.13)% | 19.68% | (1.00)% | 12.98% | (2.48)% | 12.20% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.87%†† | 1.96% | 2.21% | 2.77% | 2.61% | 2.36% |
Net expenses (c) | 1.09%†† | 1.09% | 1.11% | 1.12% | 1.11% | 1.11% |
Portfolio turnover rate | 34% | 57%(d) | 65%(d) | 62%(d) | 44%(d) | 29% |
Net assets at end of period (in 000’s) | $2,637 | $2,961 | $3,044 | $2,524 | $3,587 | $4,409 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R2 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rates not including mortgage dollar rolls were 56%, 62%, 54% and 36% for the years ended October 31, 2021, 2020, 2019 and 2018, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R3 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $21.75 | $18.61 | $19.96 | $18.51 | $19.97 | $18.30 |
Net investment income (loss) (a) | 0.17 | 0.36 | 0.37 | 0.45 | 0.42 | 0.42 |
Net realized and unrealized gain (loss) | (2.06) | 3.22 | (0.60) | 1.82 | (0.94) | 1.73 |
Total from investment operations | (1.89) | 3.58 | (0.23) | 2.27 | (0.52) | 2.15 |
Less distributions: | ||||||
From net investment income | (0.17) | (0.44) | (0.36) | (0.50) | (0.45) | (0.48) |
From net realized gain on investments | (1.14) | — | (0.76) | (0.32) | (0.49) | — |
Total distributions | (1.31) | (0.44) | (1.12) | (0.82) | (0.94) | (0.48) |
Net asset value at end of period | $18.55 | $21.75 | $18.61 | $19.96 | $18.51 | $19.97 |
Total investment return (b) | (9.29)% | 19.39% | (1.24)% | 12.70% | (2.73)% | 11.89% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.64%†† | 1.70% | 1.97% | 2.34% | 2.19% | 2.16% |
Net expenses (c) | 1.34%†† | 1.34% | 1.37% | 1.36% | 1.35% | 1.36% |
Portfolio turnover rate | 34% | 57%(d) | 65%(d) | 62%(d) | 44%(d) | 29% |
Net assets at end of period (in 000’s) | $2,161 | $2,088 | $1,196 | $590 | $136 | $201 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rates not including mortgage dollar rolls were 56%, 62%, 54% and 36% for the years ended October 31, 2021, 2020, 2019 and 2018, respectively. |
40 | MainStay Income Builder Fund |
Six months ended April 30, 2022* | Year Ended October 31, | February 28, 2018^ through October 31, 2018 | |||
Class R6 | 2021 | 2020 | 2019 | ||
Net asset value at beginning of period | $21.99 | $18.80 | $20.16 | $18.68 | $19.19 |
Net investment income (loss) (a) | 0.24 | 0.51 | 0.51 | 0.61 | 0.33 |
Net realized and unrealized gain (loss) | (2.08) | 3.26 | (0.62) | 1.82 | (0.44) |
Total from investment operations | (1.84) | 3.77 | (0.11) | 2.43 | (0.11) |
Less distributions: | |||||
From net investment income | (0.24) | (0.58) | (0.49) | (0.63) | (0.40) |
From net realized gain on investments | (1.14) | — | (0.76) | (0.32) | — |
Total distributions | (1.38) | (0.58) | (1.25) | (0.95) | (0.40) |
Net asset value at end of period | $18.77 | $21.99 | $18.80 | $20.16 | $18.68 |
Total investment return (b) | (8.93)% | 20.20% | (0.60)% | 13.52% | (0.61)% |
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.30%†† | 2.38% | 2.67% | 3.18% | 2.55%†† |
Net expenses (c) | 0.66%†† | 0.66% | 0.67% | 0.67% | 0.66%†† |
Portfolio turnover rate | 34% | 57%(d) | 65%(d) | 62%(d) | 44%(d) |
Net assets at end of period (in 000’s) | $98,104 | $109,387 | $91,551 | $101,685 | $94,869 |
* | Unaudited. |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rates not including mortgage dollar rolls were 56%, 62%, 54% and 36% for the years ended October 31, 2021, 2020, 2019 and 2018, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | August 31, 2020^ through October 31, | |
SIMPLE Class | 2021 | 2020 | |
Net asset value at beginning of period | $21.78 | $18.62 | $19.33 |
Net investment income (loss) (a) | 0.16 | 0.34 | 0.04 |
Net realized and unrealized gain (loss) | (2.07) | 3.24 | (0.69) |
Total from investment operations | (1.91) | 3.58 | (0.65) |
Less distributions: | |||
From net investment income | (0.16) | (0.42) | (0.06) |
From net realized gain on investments | (1.14) | — | — |
Total distributions | (1.30) | (0.42) | (0.06) |
Net asset value at end of period | $18.57 | $21.78 | $18.62 |
Total investment return (b) | (9.28)% | 19.26% | (3.39)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.57%†† | 1.61% | 1.62% |
Net expenses (c) | 1.43%†† | 1.43% | 1.43% |
Portfolio turnover rate | 34% | 57%(d) | 65%(d) |
Net assets at end of period (in 000’s) | $34 | $29 | $24 |
* | Unaudited. |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. SIMPLE Class shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rates not including mortgage dollar rolls were 56% and 62% for the years ended October 31, 2021 and 2020 respectively. |
42 | MainStay Income Builder Fund |
Class | Commenced Operations |
Class A | January 3, 1995 |
Investor Class | February 28, 2008 |
Class B | December 29, 1987 |
Class C | September 1, 1998 |
Class I | January 2, 2004 |
Class R2 | February 27, 2015 |
Class R3 | February 29, 2016 |
Class R6 | February 28, 2018 |
SIMPLE Class | August 31, 2020 |
• Broker/dealer quotes | • Benchmark securities |
• Two-sided markets | • Reference data (corporate actions or material event notices) |
• Bids/offers | • Monthly payment information |
• Industry and economic events | • Reported trades |
44 | MainStay Income Builder Fund |
46 | MainStay Income Builder Fund |
48 | MainStay Income Builder Fund |
Asset Derivatives | Foreign Exchange Contracts Risk | Equity Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized appreciation on futures contracts (a) | $— | $2,916,108 | $570,763 | $3,486,871 |
Forward Contracts - Unrealized appreciation on foreign currency forward contracts | 711,139 | — | — | 711,139 |
Total Fair Value | $711,139 | $2,916,108 | $570,763 | $4,198,010 |
(a) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Portfolio of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
50 | MainStay Income Builder Fund |
Liability Derivatives | Foreign Exchange Contracts Risk | Equity Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized depreciation on futures contracts (a) | $— | $(8,543,415) | $(9,466,746) | $(18,010,161) |
Forward Contracts - Unrealized depreciation on foreign currency forward contracts | (9,632,934) | — | — | (9,632,934) |
Total Fair Value | $(9,632,934) | $(8,543,415) | $(9,466,746) | $(27,643,095) |
(a) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Portfolio of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Net Realized Gain (Loss) from: | Foreign Exchange Contracts Risk | Equity Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts | $— | $(15,547,831) | $(8,357,130) | $(23,904,961) |
Forward Contracts | (6,480,494) | — | — | (6,480,494) |
Total Net Realized Gain (Loss) | $(6,480,494) | $(15,547,831) | $(8,357,130) | $(30,385,455) |
Net Change in Unrealized Appreciation (Depreciation) | Foreign Exchange Contracts Risk | Equity Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts | $— | $(14,487,958) | $(8,384,300) | $(22,872,258) |
Forward Contracts | (5,446,177) | — | — | (5,446,177) |
Total Net Change in Unrealized Appreciation (Depreciation) | $(5,446,177) | $(14,487,958) | $(8,384,300) | $(28,318,435) |
Average Notional Amount | Total |
Futures Contracts Long | $565,374,117 |
Futures Contracts Short | $(59,236,401) |
Forward Contracts Long | $165,277,212 |
Forward Contracts Short (a) | $(97,615,127) |
(a) | Positions were open three months during the reporting period. |
Class R2 | $1,416 |
Class R3 | 1,082 |
52 | MainStay Income Builder Fund |
Class | Expense | Waived |
Class A | $346,991 | $— |
Investor Class | 99,868 | — |
Class B | 19,862 | — |
Class C | 162,518 | — |
Class I | 204,413 | — |
Class R2 | 1,225 | — |
Class R3 | 937 | — |
Class R6 | 2,108 | — |
SIMPLE Class | 46 | — |
Class R2 | $33,195 | 1.3% |
Class R6 | 95,106,007 | 96.9 |
SIMPLE Class | 26,100 | 76.6 |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $1,400,458,604 | $138,936,783 | $(80,059,510) | $58,877,273 |
2021 | |
Distributions paid from: | |
Ordinary Income | $38,522,467 |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 3,423,629 | $69,843,895 |
Shares issued to shareholders in reinvestment of distributions | 2,373,372 | 48,634,429 |
Shares redeemed | (3,002,403) | (60,895,012) |
Net increase (decrease) in shares outstanding before conversion | 2,794,598 | 57,583,312 |
Shares converted into Class A (See Note 1) | 218,153 | 4,445,315 |
Shares converted from Class A (See Note 1) | (889) | (17,040) |
Net increase (decrease) | 3,011,862 | $62,011,587 |
Year ended October 31, 2021: | ||
Shares sold | 6,718,778 | $142,135,384 |
Shares issued to shareholders in reinvestment of distributions | 822,923 | 17,256,179 |
Shares redeemed | (5,138,682) | (108,230,051) |
Net increase (decrease) in shares outstanding before conversion | 2,403,019 | 51,161,512 |
Shares converted into Class A (See Note 1) | 947,002 | 19,889,012 |
Shares converted from Class A (See Note 1) | (12,521) | (262,968) |
Net increase (decrease) | 3,337,500 | $70,787,556 |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 78,532 | $1,605,363 |
Shares issued to shareholders in reinvestment of distributions | 229,575 | 4,711,408 |
Shares redeemed | (143,482) | (2,918,647) |
Net increase (decrease) in shares outstanding before conversion | 164,625 | 3,398,124 |
Shares converted into Investor Class (See Note 1) | 24,069 | 487,944 |
Shares converted from Investor Class (See Note 1) | (140,673) | (2,887,371) |
Net increase (decrease) | 48,021 | $998,697 |
Year ended October 31, 2021: | ||
Shares sold | 223,896 | $4,726,482 |
Shares issued to shareholders in reinvestment of distributions | 86,505 | 1,810,808 |
Shares redeemed | (321,356) | (6,764,643) |
Net increase (decrease) in shares outstanding before conversion | (10,955) | (227,353) |
Shares converted into Investor Class (See Note 1) | 67,450 | 1,433,967 |
Shares converted from Investor Class (See Note 1) | (774,517) | (16,270,731) |
Net increase (decrease) | (718,022) | $(15,064,117) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 9,052 | $187,554 |
Shares issued to shareholders in reinvestment of distributions | 35,097 | 727,202 |
Shares redeemed | (114,606) | (2,332,440) |
Net increase (decrease) in shares outstanding before conversion | (70,457) | (1,417,684) |
Shares converted from Class B (See Note 1) | (55,744) | (1,136,296) |
Net increase (decrease) | (126,201) | $(2,553,980) |
Year ended October 31, 2021: | ||
Shares sold | 19,890 | $424,962 |
Shares issued to shareholders in reinvestment of distributions | 10,799 | 226,696 |
Shares redeemed | (179,895) | (3,820,460) |
Net increase (decrease) in shares outstanding before conversion | (149,206) | (3,168,802) |
Shares converted from Class B (See Note 1) | (120,192) | (2,566,421) |
Net increase (decrease) | (269,398) | $(5,735,223) |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 146,033 | $3,017,683 |
Shares issued to shareholders in reinvestment of distributions | 342,241 | 7,073,624 |
Shares redeemed | (1,030,866) | (20,996,074) |
Net increase (decrease) in shares outstanding before conversion | (542,592) | (10,904,767) |
Shares converted from Class C (See Note 1) | (44,964) | (909,592) |
Net increase (decrease) | (587,556) | $(11,814,359) |
Year ended October 31, 2021: | ||
Shares sold | 430,737 | $9,167,564 |
Shares issued to shareholders in reinvestment of distributions | 99,113 | 2,076,448 |
Shares redeemed | (2,273,458) | (48,234,588) |
Net increase (decrease) in shares outstanding before conversion | (1,743,608) | (36,990,576) |
Shares converted from Class C (See Note 1) | (117,199) | (2,478,192) |
Net increase (decrease) | (1,860,807) | $(39,468,768) |
54 | MainStay Income Builder Fund |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 1,661,144 | $34,120,241 |
Shares issued to shareholders in reinvestment of distributions | 1,287,115 | 26,664,428 |
Shares redeemed | (3,348,410) | (68,706,696) |
Net increase (decrease) in shares outstanding before conversion | (400,151) | (7,922,027) |
Shares converted into Class I (See Note 1) | 879 | 17,040 |
Net increase (decrease) | (399,272) | $(7,904,987) |
Year ended October 31, 2021: | ||
Shares sold | 4,197,725 | $89,307,598 |
Shares issued to shareholders in reinvestment of distributions | 523,290 | 11,087,943 |
Shares redeemed | (5,605,451) | (118,883,473) |
Net increase (decrease) in shares outstanding before conversion | (884,436) | (18,487,932) |
Shares converted into Class I (See Note 1) | 12,027 | 255,333 |
Net increase (decrease) | (872,409) | $(18,232,599) |
Class R2 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 7,353 | $149,809 |
Shares issued to shareholders in reinvestment of distributions | 2,466 | 50,517 |
Shares redeemed | (3,830) | (77,942) |
Net increase (decrease) | 5,989 | $122,384 |
Year ended October 31, 2021: | ||
Shares sold | 11,932 | $250,387 |
Shares issued to shareholders in reinvestment of distributions | 1,273 | 26,494 |
Shares redeemed | (40,653) | (863,142) |
Net increase (decrease) | (27,448) | $(586,261) |
Class R3 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 19,709 | $399,919 |
Shares issued to shareholders in reinvestment of distributions | 6,163 | 126,314 |
Shares redeemed | (5,337) | (107,958) |
Net increase (decrease) | 20,535 | $418,275 |
Year ended October 31, 2021: | ||
Shares sold | 54,676 | $1,117,408 |
Shares issued to shareholders in reinvestment of distributions | 1,901 | 39,796 |
Shares redeemed | (24,888) | (524,738) |
Net increase (decrease) | 31,689 | $632,466 |
Class R6 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 255,697 | $5,233,089 |
Shares issued to shareholders in reinvestment of distributions | 324,614 | 6,722,806 |
Shares redeemed | (327,577) | (6,746,680) |
Net increase (decrease) | 252,734 | $5,209,215 |
Year ended October 31, 2021: | ||
Shares sold | 514,043 | $10,955,197 |
Shares issued to shareholders in reinvestment of distributions | 130,575 | 2,768,324 |
Shares redeemed | (538,974) | (11,407,987) |
Net increase (decrease) | 105,644 | $2,315,534 |
SIMPLE Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 452 | $9,570 |
Shares issued to shareholders in reinvestment of distributions | 104 | 2,144 |
Shares redeemed | (44) | (920) |
Net increase (decrease) | 512 | $10,794 |
Year ended October 31, 2021: | ||
Shares issued to shareholders in reinvestment of distributions | 26 | $545 |
Net increase (decrease) | 26 | $545 |
56 | MainStay Income Builder Fund |
58 | MainStay Income Builder Fund |
60 | MainStay Income Builder Fund |
62 | MainStay Income Builder Fund |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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9 | |
11 | |
17 | |
23 | |
31 | |
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36 | |
36 |
Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Five Years | Ten Years | Gross Expense Ratio2 | |
Class A Shares | Maximum 5.5% Initial Sales Charge | With sales charges | 1/3/1995 | -13.66% | -9.92% | 10.10% | 9.84% | 0.92% |
Excluding sales charges | -8.64 | -4.68 | 11.35 | 10.47 | 0.92 | |||
Investor Class Shares3 | Maximum 5% Initial Sales Charge | With sales charges | 2/28/2008 | -13.26 | -9.58 | 9.92 | 9.65 | 1.13 |
Excluding sales charges | -8.69 | -4.83 | 11.17 | 10.27 | 1.13 | |||
Class B Shares4 | Maximum 5% CDSC | With sales charges | 5/1/1986 | -12.72 | -9.38 | 10.06 | 9.44 | 1.88 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -9.04 | -5.56 | 10.33 | 9.44 | 1.88 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/1/1998 | -9.79 | -6.33 | 10.33 | 9.44 | 1.88 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -9.06 | -5.57 | 10.33 | 9.44 | 1.88 | ||
Class I Shares | No Sales Charge | 11/28/2008 | -8.47 | -4.37 | 11.75 | 10.81 | 0.67 |
1. | Not annualized. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Prior to June 30, 2020, the maximum initial sales charge was 5.5%, which is reflected in the applicable average annual total return figures shown. |
4. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
ICE BofA U.S. Convertible Index2 | -15.19% | -11.44% | 12.47% | 11.47% |
Morningstar Convertibles Category Average3 | -13.25 | -11.00 | 9.99 | 8.93 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The ICE BofA U.S. Convertible Index is the Fund’s primary broad–based securities market index for comparison purposes. The ICE BofA U.S. Convertible Index is a market-capitalization weighted index of domestic corporate convertible securities. In order to be included in this Index, bonds and preferred stocks must be convertible only to common stock. Results assume reinvestment of all income and capital gains. An investment cannot be made directly in an index. |
3. | The Morningstar Convertibles Category Average is representative of funds that are designed to offer some of the capital-appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay MacKay Convertible Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $913.60 | $4.32 | $1,020.28 | $4.56 | 0.91% |
Investor Class Shares | $1,000.00 | $913.10 | $5.27 | $1,019.29 | $5.56 | 1.11% |
Class B Shares | $1,000.00 | $909.60 | $8.81 | $1,015.57 | $9.30 | 1.86% |
Class C Shares | $1,000.00 | $909.40 | $8.81 | $1,015.57 | $9.30 | 1.86% |
Class I Shares | $1,000.00 | $915.30 | $2.90 | $1,021.77 | $3.06 | 0.61% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Portfolio Composition as of April 30, 2022 (Unaudited)
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | EQT Corp., 1.75%, due 5/1/26 |
2. | Pioneer Natural Resources Co., 0.25%, due 5/15/25 |
3. | Anthem, Inc., 2.75%, due 10/15/42 |
4. | Danaher Corp. |
5. | NICE Ltd., (zero coupon), due 9/15/25 |
6. | Palo Alto Networks, Inc., 0.375%-0.75%, due 7/1/23–6/1/25 |
7. | Southwest Airlines Co., 1.25%, due 5/1/25 |
8. | BioMarin Pharmaceutical, Inc., 1.25%, due 5/15/27 |
9. | Microchip Technology, Inc., 0.125%, due 11/15/24 |
10. | Chart Industries, Inc., 1.00%, due 11/15/24 |
8 | MainStay MacKay Convertible Fund |
10 | MainStay MacKay Convertible Fund |
Principal Amount | Value | |
Long-Term Bonds 2.8% | ||
Corporate Bonds 2.8% | ||
Biotechnology 0.2% | ||
Bridgebio Pharma, Inc. | ||
2.50%, due 3/15/27 | $ 6,975,000 | $ 4,167,563 |
Commercial Services 0.5% | ||
Block, Inc. | ||
0.25%, due 11/1/27 | 11,637,000 | 9,489,973 |
Leisure Time 0.4% | ||
NCL Corp. Ltd. | ||
5.375%, due 8/1/25 | 4,670,000 | 6,313,840 |
Oil & Gas 0.1% | ||
Valaris Ltd. | ||
Series 1145 | ||
8.25% (8.25% Cash or 12.00% PIK), due 4/30/28 (a) | 1,461,000 | 1,497,525 |
Oil & Gas Services 0.0% ‡ | ||
Weatherford International Ltd. | ||
11.00%, due 12/1/24 (b) | 238,000 | 245,140 |
Semiconductors 1.3% | ||
Silicon Laboratories, Inc. | ||
0.625%, due 6/15/25 | 18,021,000 | 22,955,150 |
Software 0.3% | ||
Five9, Inc. | ||
0.50%, due 6/1/25 | 4,675,000 | 5,041,988 |
Total Corporate Bonds (Cost $53,471,825) | 49,711,179 | |
Total Long-Term Bonds (Cost $53,471,825) | 49,711,179 | |
Convertible Securities 89.0% | ||
Convertible Bonds 80.3% | ||
Airlines 2.9% | ||
American Airlines Group, Inc. | ||
6.50%, due 7/1/25 | 7,040,000 | 9,852,480 |
JetBlue Airways Corp. | ||
0.50%, due 4/1/26 (b) | 4,632,000 | 3,789,439 |
Southwest Airlines Co. | ||
1.25%, due 5/1/25 | 27,566,000 | 37,744,746 |
51,386,665 |
Principal Amount | Value | |
Auto Manufacturers 1.7% | ||
Ford Motor Co. | ||
(zero coupon), due 3/15/26 | $ 27,838,000 | $ 29,689,227 |
Beverages 0.9% | ||
MGP Ingredients, Inc. | ||
1.875%, due 11/15/41 (b) | 13,305,000 | 15,292,767 |
Biotechnology 4.0% | ||
BioMarin Pharmaceutical, Inc. | ||
1.25%, due 5/15/27 (c) | 34,659,000 | 35,785,417 |
Guardant Health, Inc. | ||
(zero coupon), due 11/15/27 | 7,026,000 | 5,651,714 |
Halozyme Therapeutics, Inc. | ||
0.25%, due 3/1/27 | 3,556,000 | 3,069,273 |
Illumina, Inc. | ||
(zero coupon), due 8/15/23 (c) | 18,223,000 | 19,043,035 |
Ionis Pharmaceuticals, Inc. | ||
(zero coupon), due 4/1/26 | 9,349,000 | 8,777,776 |
72,327,215 | ||
Commercial Services 2.5% | ||
Alarm.com Holdings, Inc. | ||
(zero coupon), due 1/15/26 | 3,775,000 | 3,148,350 |
Block, Inc. | ||
(zero coupon), due 5/1/26 (c) | 14,521,000 | 12,569,741 |
Chegg, Inc. | ||
(zero coupon), due 9/1/26 | 8,817,000 | 6,886,077 |
Euronet Worldwide, Inc. | ||
0.75%, due 3/15/49 (c) | 11,900,000 | 13,245,890 |
Repay Holdings Corp. | ||
(zero coupon), due 2/1/26 (b) | 2,525,000 | 2,060,400 |
Sabre GLBL, Inc. | ||
4.00%, due 4/15/25 | 1,835,000 | 2,833,240 |
Shift4 Payments, Inc. | ||
(zero coupon), due 12/15/25 | 3,720,000 | 3,597,240 |
0.50%, due 8/1/27 (b) | 1,145,000 | 937,755 |
45,278,693 | ||
Computers 2.5% | ||
Lumentum Holdings, Inc. | ||
0.50%, due 12/15/26 | 25,385,000 | 26,669,481 |
Parsons Corp. | ||
0.25%, due 8/15/25 (c) | 4,641,000 | 4,807,148 |
Zscaler, Inc. | ||
0.125%, due 7/1/25 | 8,613,000 | 12,829,063 |
44,305,692 |
Principal Amount | Value | |
Convertible Bonds (continued) | ||
Cosmetics & Personal Care 0.3% | ||
Beauty Health Co. (The) | ||
1.25%, due 10/1/26 (b) | $ 5,383,000 | $ 4,543,252 |
Diversified Financial Services 0.3% | ||
LendingTree, Inc. | ||
0.625%, due 6/1/22 | 4,144,000 | 4,128,460 |
Upstart Holdings, Inc. | ||
0.25%, due 8/15/26 (b)(c) | 2,265,000 | 1,744,050 |
5,872,510 | ||
Electric 1.4% | ||
NRG Energy, Inc. | ||
2.75%, due 6/1/48 | 23,454,000 | 24,933,947 |
Energy-Alternate Sources 1.5% | ||
Enphase Energy, Inc. | ||
(zero coupon), due 3/1/26 | 9,485,000 | 8,972,810 |
NextEra Energy Partners LP | ||
(zero coupon), due 11/15/25 (b) | 9,417,000 | 9,167,450 |
SolarEdge Technologies, Inc. | ||
(zero coupon), due 9/15/25 (c) | 7,790,000 | 9,094,825 |
27,235,085 | ||
Entertainment 2.3% | ||
Live Nation Entertainment, Inc. | ||
2.50%, due 3/15/23 | 6,833,000 | 10,881,552 |
Marriott Vacations Worldwide Corp. | ||
(zero coupon), due 1/15/26 | 3,110,000 | 3,294,656 |
Vail Resorts, Inc. | ||
(zero coupon), due 1/1/26 (c) | 28,521,000 | 26,970,171 |
41,146,379 | ||
Food 0.7% | ||
Chefs' Warehouse, Inc. (The) | ||
1.875%, due 12/1/24 | 11,507,000 | 12,703,728 |
Healthcare-Products 3.6% | ||
CONMED Corp. | ||
2.625%, due 2/1/24 | 14,746,000 | 23,166,177 |
Exact Sciences Corp. | ||
0.375%, due 3/1/28 | 22,800,000 | 18,445,200 |
Haemonetics Corp. | ||
(zero coupon), due 3/1/26 | 4,672,000 | 3,711,437 |
Integra LifeSciences Holdings Corp. | ||
0.50%, due 8/15/25 | 8,670,000 | 8,876,346 |
Principal Amount | Value | |
Healthcare-Products (continued) | ||
NuVasive, Inc. | ||
0.375%, due 3/15/25 | $ 8,085,000 | $ 7,559,475 |
Omnicell, Inc. | ||
0.25%, due 9/15/25 | 2,760,000 | 3,416,880 |
65,175,515 | ||
Healthcare-Services 4.0% | ||
Anthem, Inc. | ||
2.75%, due 10/15/42 | 6,880,000 | 49,123,200 |
Teladoc Health, Inc. | ||
1.25%, due 6/1/27 | 29,441,000 | 21,977,706 |
71,100,906 | ||
Internet 9.7% | ||
Booking Holdings, Inc. | ||
0.75%, due 5/1/25 (c) | 10,000,000 | 13,950,000 |
Etsy, Inc. | ||
0.25%, due 6/15/28 (b) | 25,139,000 | 20,111,200 |
Expedia Group, Inc. | ||
(zero coupon), due 2/15/26 (c) | 2,822,000 | 3,322,905 |
Match Group Financeco 2, Inc. | ||
0.875%, due 6/15/26 (b)(c) | 12,450,000 | 14,298,825 |
Okta, Inc. | ||
0.125%, due 9/1/25 | 5,611,000 | 5,481,947 |
Palo Alto Networks, Inc. | ||
0.375%, due 6/1/25 | 9,385,000 | 18,037,970 |
0.75%, due 7/1/23 | 13,659,000 | 28,943,421 |
Q2 Holdings, Inc. | ||
0.75%, due 6/1/26 | 4,395,000 | 4,028,018 |
Shopify, Inc. | ||
0.125%, due 11/1/25 | 16,390,000 | 14,308,470 |
Snap, Inc. (b) | ||
(zero coupon), due 5/1/27 | 10,018,000 | 7,999,373 |
0.125%, due 3/1/28 | 4,480,000 | 3,949,120 |
Uber Technologies, Inc. | ||
(zero coupon), due 12/15/25 | 13,355,000 | 11,598,817 |
Zendesk, Inc. | ||
0.625%, due 6/15/25 | 8,790,000 | 11,163,300 |
Zillow Group, Inc. | ||
2.75%, due 5/15/25 | 16,626,000 | 17,224,536 |
174,417,902 | ||
Leisure Time 0.8% | ||
NCL Corp. Ltd. | ||
6.00%, due 5/15/24 | 2,849,000 | 4,725,066 |
Royal Caribbean Cruises Ltd. | ||
4.25%, due 6/15/23 | 8,243,000 | 10,190,821 |
14,915,887 |
12 | MainStay MacKay Convertible Fund |
Principal Amount | Value | |
Convertible Bonds (continued) | ||
Machinery-Diversified 1.7% | ||
Chart Industries, Inc. | ||
1.00%, due 11/15/24 (b) | $ 10,592,000 | $ 30,704,090 |
Media 3.5% | ||
Cable One, Inc. | ||
1.125%, due 3/15/28 | 17,808,000 | 14,709,408 |
DISH Network Corp. | ||
(zero coupon), due 12/15/25 | 18,871,000 | 17,125,433 |
Liberty Media Corp. | ||
1.375%, due 10/15/23 | 11,345,000 | 14,805,225 |
Liberty Media Corp.-Liberty Formula One | ||
1.00%, due 1/30/23 | 9,441,000 | 16,015,476 |
62,655,542 | ||
Oil & Gas 7.8% | ||
Centennial Resource Production LLC | ||
3.25%, due 4/1/28 | 14,317,000 | 21,162,316 |
EQT Corp. | ||
1.75%, due 5/1/26 | 22,078,000 | 60,217,745 |
Pioneer Natural Resources Co. | ||
0.25%, due 5/15/25 | 26,272,000 | 57,956,032 |
139,336,093 | ||
Oil & Gas Services 2.7% | ||
Helix Energy Solutions Group, Inc. | ||
6.75%, due 2/15/26 | 20,177,000 | 21,147,514 |
Oil States International, Inc. | ||
1.50%, due 2/15/23 | 1,104,000 | 1,045,930 |
4.75%, due 4/1/26 (b) | 25,301,000 | 25,648,889 |
47,842,333 | ||
Pharmaceuticals 2.7% | ||
Dexcom, Inc. | ||
0.25%, due 11/15/25 (c) | 16,375,000 | 17,203,984 |
Neurocrine Biosciences, Inc. | ||
2.25%, due 5/15/24 | 14,430,000 | 18,596,663 |
Pacira BioSciences, Inc. | ||
0.75%, due 8/1/25 (c) | 11,078,000 | 13,383,609 |
49,184,256 | ||
Real Estate Investment Trusts 0.7% | ||
Summit Hotel Properties, Inc. | ||
1.50%, due 2/15/26 | 12,566,000 | 12,924,131 |
Principal Amount | Value | |
Retail 2.8% | ||
American Eagle Outfitters, Inc. | ||
3.75%, due 4/15/25 | $ 2,695,000 | $ 5,162,609 |
Burlington Stores, Inc. | ||
2.25%, due 4/15/25 (c) | 19,158,000 | 23,073,416 |
Cheesecake Factory, Inc. (The) | ||
0.375%, due 6/15/26 | 9,208,000 | 7,907,370 |
Patrick Industries, Inc. | ||
1.75%, due 12/1/28 (b) | 16,362,000 | 14,797,384 |
50,940,779 | ||
Semiconductors 3.2% | ||
Impinj, Inc. | ||
1.125%, due 5/15/27 (b) | 4,665,000 | 3,845,709 |
Microchip Technology, Inc. | ||
0.125%, due 11/15/24 (c) | 33,300,000 | 35,424,540 |
ON Semiconductor Corp. | ||
1.625%, due 10/15/23 | 2,305,000 | 5,831,650 |
Rambus, Inc. | ||
1.375%, due 2/1/23 | 5,201,000 | 7,057,757 |
Wolfspeed, Inc. | ||
0.25%, due 2/15/28 (b) | 4,466,000 | 4,477,165 |
56,636,821 | ||
Software 10.2% | ||
Akamai Technologies, Inc. | ||
0.375%, due 9/1/27 | 16,529,000 | 18,264,545 |
Avalara, Inc. | ||
0.25%, due 8/1/26 (b) | 2,285,000 | 1,837,140 |
Bentley Systems, Inc. | ||
0.125%, due 1/15/26 | 3,570,000 | 3,423,630 |
Bill.com Holdings, Inc. | ||
(zero coupon), due 12/1/25 | 4,680,000 | 6,109,740 |
Coupa Software, Inc. | ||
0.375%, due 6/15/26 (c) | 10,679,000 | 8,735,422 |
Datadog, Inc. | ||
0.125%, due 6/15/25 | 9,636,000 | 14,376,912 |
DigitalOcean Holdings, Inc. | ||
(zero coupon), due 12/1/26 (b) | 6,190,000 | 4,650,016 |
Dropbox, Inc. | ||
(zero coupon), due 3/1/28 | 11,036,000 | 10,056,555 |
Envestnet, Inc. | ||
1.75%, due 6/1/23 | 20,827,000 | 25,773,412 |
Everbridge, Inc. | ||
0.125%, due 12/15/24 | 12,641,000 | 11,413,252 |
MongoDB, Inc. | ||
0.25%, due 1/15/26 | 7,075,000 | 12,690,781 |
RingCentral, Inc. | ||
(zero coupon), due 3/1/25 | 21,079,000 | 17,769,597 |
Principal Amount | Value | |
Convertible Bonds (continued) | ||
Software (continued) | ||
Splunk, Inc. | ||
0.50%, due 9/15/23 | $ 16,180,000 | $ 17,130,575 |
Workday, Inc. | ||
0.25%, due 10/1/22 | 11,093,000 | 15,735,421 |
Ziff Davis, Inc. | ||
1.75%, due 11/1/26 (b) | 5,220,000 | ��� 5,588,010 |
Zynga, Inc. | ||
(zero coupon), due 12/15/26 | 8,635,000 | 8,561,603 |
182,116,611 | ||
Telecommunications 4.4% | ||
Infinera Corp. | ||
2.50%, due 3/1/27 | 7,050,000 | 8,992,275 |
InterDigital, Inc. | ||
2.00%, due 6/1/24 | 4,500,000 | 4,525,313 |
NICE Ltd. | ||
(zero coupon), due 9/15/25 (c) | 46,000,000 | 47,092,500 |
Viavi Solutions, Inc. | ||
1.00%, due 3/1/24 | 14,679,000 | 17,568,928 |
78,179,016 | ||
Transportation 1.0% | ||
Atlas Air Worldwide Holdings, Inc. | ||
1.875%, due 6/1/24 | 14,207,000 | 17,927,458 |
Trucking & Leasing 0.5% | ||
Greenbrier Cos., Inc. (The) | ||
2.875%, due 4/15/28 | 8,991,000 | 9,184,307 |
Total Convertible Bonds (Cost $1,312,749,555) | 1,437,956,807 | |
Shares | ||
Convertible Preferred Stocks 8.7% | ||
Banks 1.6% | ||
Bank of America Corp. | ||
Series L | ||
7.25% (d) | 12,072 | 14,689,451 |
Wells Fargo & Co. | ||
Series L | ||
7.50% (d) | 11,552 | 13,995,133 |
28,684,584 |
Shares | Value | |
Capital Markets 0.6% | ||
KKR & Co., Inc. | ||
Series C | ||
6.00% (c) | 165,650 | $ 10,860,014 |
Electric Utilities 1.1% | ||
PG&E Corp. | ||
5.50% | 160,900 | 19,121,356 |
Health Care Equipment & Supplies 0.2% | ||
Becton Dickinson and Co. | ||
Series B | ||
6.00% | 86,450 | 4,418,459 |
Independent Power and Renewable Electricity Producers 0.7% | ||
AES Corp. (The) | ||
6.875% | 147,100 | 12,738,860 |
Life Sciences Tools & Services 2.7% | ||
Danaher Corp. | ||
Series B | ||
5.00% (c) | 34,560 | 47,678,976 |
Machinery 0.9% | ||
RBC Bearings, Inc. | ||
Series A | ||
5.00% | 15,834 | 1,432,819 |
Stanley Black & Decker, Inc. | ||
5.25% | 182,200 | 14,319,098 |
15,751,917 | ||
Semiconductors & Semiconductor Equipment 0.9% | ||
Broadcom, Inc. | ||
Series A | ||
8.00% (c) | 9,655 | 16,843,147 |
Total Convertible Preferred Stocks (Cost $153,425,857) | 156,097,313 | |
Total Convertible Securities (Cost $1,466,175,412) | 1,594,054,120 | |
Common Stocks 2.3% | ||
Banks 0.8% | ||
Bank of America Corp. | 398,621 | 14,222,797 |
Energy Equipment & Services 1.0% | ||
Valaris Ltd. (e) | 204,006 | 10,353,305 |
14 | MainStay MacKay Convertible Fund |
Shares | Value | |
Common Stocks (continued) | ||
Energy Equipment & Services (continued) | ||
Weatherford International plc (e) | 272,914 | $ 8,809,664 |
19,162,969 | ||
Oil, Gas & Consumable Fuels 0.5% | ||
Kosmos Energy Ltd. (e) | 562,841 | 3,804,805 |
PDC Energy, Inc. | 74,569 | 5,200,442 |
9,005,247 | ||
Pharmaceuticals 0.0% ‡ | ||
Pacira BioSciences, Inc. (e) | 74 | 5,518 |
Total Common Stocks (Cost $24,590,615) | 42,396,531 | |
Short-Term Investments 14.1% | ||
Affiliated Investment Company 5.5% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (f)(g) | 98,403,611 | 98,403,611 |
Unaffiliated Investment Companies 8.6% | ||
BlackRock Liquidity FedFund, 0.375% (g)(h) | 100,000,000 | 100,000,000 |
Invesco Government & Agency Portfolio, 0.419% (g)(h) | 54,144,769 | 54,144,769 |
154,144,769 | ||
Total Short-Term Investments (Cost $252,548,380) | 252,548,380 | |
Total Investments (Cost $1,796,786,232) | 108.2% | 1,938,710,210 |
Other Assets, Less Liabilities | (8.2) | (147,022,569) |
Net Assets | 100.0% | $ 1,791,687,641 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
(b) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(c) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $142,456,282; the total market value of collateral held by the Fund was $154,868,234. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $723,465. The Fund received cash collateral with a value of $154,144,769. (See Note 2(G)) |
(d) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(e) | Non-income producing security. |
(f) | As of April 30, 2022, the Fund's ownership exceeds 5% of the outstanding shares of the Underlying Fund's share class. |
(g) | Current yield as of April 30, 2022. |
(h) | Represents a security purchased with cash collateral received for securities on loan. |
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 113,964 | $ 232,600 | $ (248,160) | $ — | $ — | $ 98,404 | $ 15 | $ — | 98,404 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Long-Term Bonds | ||||
Corporate Bonds | $ — | $ 49,711,179 | $ — | $ 49,711,179 |
Total Corporate Bonds | — | 49,711,179 | — | 49,711,179 |
Convertible Securities | ||||
Convertible Bonds | — | 1,437,956,807 | — | 1,437,956,807 |
Convertible Preferred Stocks | 156,097,313 | — | — | 156,097,313 |
Total Convertible Securities | 156,097,313 | 1,437,956,807 | — | 1,594,054,120 |
Common Stocks | 42,396,531 | — | — | 42,396,531 |
Short-Term Investments | ||||
Affiliated Investment Company | 98,403,611 | — | — | 98,403,611 |
Unaffiliated Investment Companies | 154,144,769 | — | — | 154,144,769 |
Total Short-Term Investments | 252,548,380 | — | — | 252,548,380 |
Total Investments in Securities | $ 451,042,224 | $ 1,487,667,986 | $ — | $ 1,938,710,210 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
16 | MainStay MacKay Convertible Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $1,698,382,621) including securities on loan of $142,456,282 | $1,840,306,599 |
Investment in affiliated investment companies, at value (identified cost $98,403,611) | 98,403,611 |
Receivables: | |
Fund shares sold | 5,627,922 |
Dividends and interest | 4,120,922 |
Securities lending | 155,249 |
Other assets | 89,843 |
Total assets | 1,948,704,146 |
Liabilities | |
Cash collateral received for securities on loan | 154,144,769 |
Payables: | |
Fund shares redeemed | 1,432,052 |
Manager (See Note 3) | 797,849 |
Transfer agent (See Note 3) | 316,763 |
NYLIFE Distributors (See Note 3) | 222,849 |
Shareholder communication | 61,064 |
Professional fees | 22,509 |
Custodian | 15,841 |
Trustees | 2,612 |
Accrued expenses | 197 |
Total liabilities | 157,016,505 |
Net assets | $1,791,687,641 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $953,672 |
Additional paid-in-capital | 1,626,017,134 |
1,626,970,806 | |
Total distributable earnings (loss) | 164,716,835 |
Net assets | $1,791,687,641 |
Class A | |
Net assets applicable to outstanding shares | $779,668,074 |
Shares of beneficial interest outstanding | 41,529,101 |
Net asset value per share outstanding | $18.77 |
Maximum sales charge (5.50% of offering price) | 1.09 |
Maximum offering price per share outstanding | $19.86 |
Investor Class | |
Net assets applicable to outstanding shares | $46,400,104 |
Shares of beneficial interest outstanding | 2,472,649 |
Net asset value per share outstanding | $18.77 |
Maximum sales charge (5.00% of offering price) | 0.99 |
Maximum offering price per share outstanding | $19.76 |
Class B | |
Net assets applicable to outstanding shares | $7,827,462 |
Shares of beneficial interest outstanding | 426,853 |
Net asset value and offering price per share outstanding | $18.34 |
Class C | |
Net assets applicable to outstanding shares | $44,826,924 |
Shares of beneficial interest outstanding | 2,448,491 |
Net asset value and offering price per share outstanding | $18.31 |
Class I | |
Net assets applicable to outstanding shares | $912,965,077 |
Shares of beneficial interest outstanding | 48,490,062 |
Net asset value and offering price per share outstanding | $18.83 |
Investment Income (Loss) | |
Income | |
Interest | $5,470,278 |
Dividends-unaffiliated | 4,142,388 |
Securities lending | 611,636 |
Dividends-affiliated | 14,743 |
Total income | 10,239,045 |
Expenses | |
Manager (See Note 3) | 5,160,432 |
Distribution/Service—Class A (See Note 3) | 1,038,549 |
Distribution/Service—Investor Class (See Note 3) | 62,495 |
Distribution/Service—Class B (See Note 3) | 45,393 |
Distribution/Service—Class C (See Note 3) | 252,093 |
Transfer agent (See Note 3) | 906,751 |
Professional fees | 78,480 |
Registration | 56,844 |
Shareholder communication | 49,831 |
Custodian | 21,166 |
Trustees | 20,056 |
Miscellaneous | 32,118 |
Total expenses before waiver/reimbursement | 7,724,208 |
Expense waiver/reimbursement from Manager (See Note 3) | (252,157) |
Net expenses | 7,472,051 |
Net investment income (loss) | 2,766,994 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | 28,642,059 |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (201,346,455) |
Net realized and unrealized gain (loss) | (172,704,396) |
Net increase (decrease) in net assets resulting from operations | $(169,937,402) |
18 | MainStay MacKay Convertible Fund |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $2,766,994 | $5,731,745 |
Net realized gain (loss) | 28,642,059 | 418,909,274 |
Net change in unrealized appreciation (depreciation) | (201,346,455) | 55,935,875 |
Net increase (decrease) in net assets resulting from operations | (169,937,402) | 480,576,894 |
Distributions to shareholders: | ||
Class A | (164,818,779) | (49,364,131) |
Investor Class | (9,899,190) | (4,182,074) |
Class B | (1,897,437) | (728,517) |
Class C | (10,369,117) | (3,711,279) |
Class I | (189,266,061) | (65,504,118) |
Total distributions to shareholders | (376,250,584) | (123,490,119) |
Capital share transactions: | ||
Net proceeds from sales of shares | 321,317,716 | 391,249,469 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 344,686,190 | 109,969,298 |
Cost of shares redeemed | (330,908,291) | (487,172,790) |
Increase (decrease) in net assets derived from capital share transactions | 335,095,615 | 14,045,977 |
Net increase (decrease) in net assets | (211,092,371) | 371,132,752 |
Net Assets | ||
Beginning of period | 2,002,780,012 | 1,631,647,260 |
End of period | $1,791,687,641 | $2,002,780,012 |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $25.40 | $20.90 | $17.81 | $17.07 | $17.75 | $15.72 |
Net investment income (loss) (a) | 0.02 | 0.05 | 0.06 | 0.12 | 0.15 | 0.19 |
Net realized and unrealized gain (loss) | (1.94) | 6.01 | 3.47 | 1.60 | 0.40 | 2.34 |
Total from investment operations | (1.92) | 6.06 | 3.53 | 1.72 | 0.55 | 2.53 |
Less distributions: | ||||||
From net investment income | (0.22) | (0.13) | (0.13) | (0.15) | (0.22) | (0.24) |
From net realized gain on investments | (4.49) | (1.43) | (0.31) | (0.83) | (1.01) | (0.26) |
Total distributions | (4.71) | (1.56) | (0.44) | (0.98) | (1.23) | (0.50) |
Net asset value at end of period | $18.77 | $25.40 | $20.90 | $17.81 | $17.07 | $17.75 |
Total investment return (b) | (8.64)% | 30.06% | 20.27% | 10.75% | 3.28% | 16.30% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.18%†† | 0.19% | 0.33% | 0.67% | 0.87% | 1.12% |
Net expenses (c) | 0.91%†† | 0.91% | 0.96% | 0.98% | 0.98% | 0.98% |
Expenses (before waiver/reimbursement) (c) | 0.91%†† | 0.91% | 0.96% | 0.98% | 0.98% | 0.99% |
Portfolio turnover rate | 9% | 49% | 46% | 23% | 43% | 38% |
Net assets at end of period (in 000’s) | $779,668 | $891,433 | $657,626 | $545,605 | $518,381 | $482,341 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $25.39 | $20.90 | $17.80 | $17.07 | $17.75 | $15.72 |
Net investment income (loss) (a) | (0.00)‡ | (0.00)‡ | 0.03 | 0.09 | 0.13 | 0.16 |
Net realized and unrealized gain (loss) | (1.93) | 6.00 | 3.47 | 1.59 | 0.39 | 2.34 |
Total from investment operations | (1.93) | 6.00 | 3.50 | 1.68 | 0.52 | 2.50 |
Less distributions: | ||||||
From net investment income | (0.20) | (0.08) | (0.09) | (0.12) | (0.19) | (0.21) |
From net realized gain on investments | (4.49) | (1.43) | (0.31) | (0.83) | (1.01) | (0.26) |
Total distributions | (4.69) | (1.51) | (0.40) | (0.95) | (1.20) | (0.47) |
Net asset value at end of period | $18.77 | $25.39 | $20.90 | $17.80 | $17.07 | $17.75 |
Total investment return (b) | (8.69)% | 29.77% | 20.08% | 10.50% | 3.12% | 16.11% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.02)%†† | (0.01)% | 0.13% | 0.51% | 0.72% | 0.95% |
Net expenses (c) | 1.11%†† | 1.12% | 1.16% | 1.15% | 1.13% | 1.14% |
Expenses (before waiver/reimbursement) (c) | 1.11%†† | 1.12% | 1.16% | 1.17% | 1.14% | 1.15% |
Portfolio turnover rate | 9% | 49% | 46% | 23% | 43% | 38% |
Net assets at end of period (in 000's) | $46,400 | $53,738 | $57,829 | $59,242 | $52,723 | $56,289 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
20 | MainStay MacKay Convertible Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $24.95 | $20.67 | $17.68 | $16.98 | $17.67 | $15.66 |
Net investment income (loss) (a) | (0.08) | (0.18) | (0.11) | (0.04) | (0.01) | 0.04 |
Net realized and unrealized gain (loss) | (1.89) | 5.93 | 3.44 | 1.60 | 0.39 | 2.32 |
Total from investment operations | (1.97) | 5.75 | 3.33 | 1.56 | 0.38 | 2.36 |
Less distributions: | ||||||
From net investment income | (0.15) | (0.04) | (0.03) | (0.03) | (0.06) | (0.09) |
From net realized gain on investments | (4.49) | (1.43) | (0.31) | (0.83) | (1.01) | (0.26) |
Total distributions | (4.64) | (1.47) | (0.34) | (0.86) | (1.07) | (0.35) |
Net asset value at end of period | $18.34 | $24.95 | $20.67 | $17.68 | $16.98 | $17.67 |
Total investment return (b) | (9.04)% | 28.79% | 19.15% | 9.76% | 2.35% | 15.21% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.77)%†† | (0.76)% | (0.61)% | (0.23)% | (0.03)% | 0.21% |
Net expenses (c) | 1.86%†† | 1.87% | 1.91% | 1.90% | 1.88% | 1.89% |
Expenses (before waiver/reimbursement) (c) | 1.86%†† | 1.87% | 1.91% | 1.92% | 1.89% | 1.90% |
Portfolio turnover rate | 9% | 49% | 46% | 23% | 43% | 38% |
Net assets at end of period (in 000’s) | $7,827 | $10,226 | $10,454 | $11,786 | $15,051 | $19,290 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $24.92 | $20.64 | $17.65 | $16.96 | $17.65 | $15.64 |
Net investment income (loss) (a) | (0.08) | (0.18) | (0.11) | (0.04) | (0.00)‡ | 0.04 |
Net realized and unrealized gain (loss) | (1.89) | 5.93 | 3.44 | 1.59 | 0.38 | 2.32 |
Total from investment operations | (1.97) | 5.75 | 3.33 | 1.55 | 0.38 | 2.36 |
Less distributions: | ||||||
From net investment income | (0.15) | (0.04) | (0.03) | (0.03) | (0.06) | (0.09) |
From net realized gain on investments | (4.49) | (1.43) | (0.31) | (0.83) | (1.01) | (0.26) |
Total distributions | (4.64) | (1.47) | (0.34) | (0.86) | (1.07) | (0.35) |
Net asset value at end of period | $18.31 | $24.92 | $20.64 | $17.65 | $16.96 | $17.65 |
Total investment return (b) | (9.06)% | 28.84% | 19.18% | 9.71% | 2.35% | 15.23% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.77)%†† | (0.77)% | (0.61)% | (0.23)% | (0.03)% | 0.21% |
Net expenses (c) | 1.86%†† | 1.87% | 1.91% | 1.90% | 1.88% | 1.89% |
Expenses (before waiver/reimbursement) (c) | 1.86%†† | 1.87% | 1.91% | 1.92% | 1.89% | 1.90% |
Portfolio turnover rate | 9% | 49% | 46% | 23% | 43% | 38% |
Net assets at end of period (in 000’s) | $44,827 | $55,754 | $52,999 | $60,891 | $80,830 | $82,335 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $25.46 | $20.95 | $17.85 | $17.11 | $17.79 | $15.75 |
Net investment income (loss) (a) | 0.05 | 0.12 | 0.13 | 0.18 | 0.22 | 0.25 |
Net realized and unrealized gain (loss) | (1.94) | 6.02 | 3.48 | 1.60 | 0.39 | 2.34 |
Total from investment operations | (1.89) | 6.14 | 3.61 | 1.78 | 0.61 | 2.59 |
Less distributions: | ||||||
From net investment income | (0.25) | (0.20) | (0.20) | (0.21) | (0.28) | (0.29) |
From net realized gain on investments | (4.49) | (1.43) | (0.31) | (0.83) | (1.01) | (0.26) |
Total distributions | (4.74) | (1.63) | (0.51) | (1.04) | (1.29) | (0.55) |
Net asset value at end of period | $18.83 | $25.46 | $20.95 | $17.85 | $17.11 | $17.79 |
Total investment return (b) | (8.47)% | 30.43% | 20.71% | 11.14% | 3.65% | 16.69% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.48%†† | 0.49% | 0.68% | 1.04% | 1.25% | 1.45% |
Net expenses (c) | 0.61%†† | 0.61% | 0.61% | 0.61% | 0.61% | 0.64% |
Expenses (before waiver/reimbursement) (c) | 0.66%†† | 0.66% | 0.71% | 0.73% | 0.73% | 0.74% |
Portfolio turnover rate | 9% | 49% | 46% | 23% | 43% | 38% |
Net assets at end of period (in 000’s) | $912,965 | $991,630 | $852,739 | $773,865 | $683,594 | $562,526 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
22 | MainStay MacKay Convertible Fund |
Class | Commenced Operations |
Class A | January 3, 1995 |
Investor Class | February 28, 2008 |
Class B | May 1, 1986 |
Class C | September 1, 1998 |
Class I | November 28, 2008 |
Class R6 | N/A* |
SIMPLE Class | N/A* |
* | Class R6 shares were registered for sale effective as of February 28, 2017 and SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
24 | MainStay MacKay Convertible Fund |
26 | MainStay MacKay Convertible Fund |
Class | Expense | Waived |
Class A | $354,447 | $— |
Investor Class | 70,438 | — |
Class B | 12,785 | — |
Class C | 71,015 | — |
Class I | 398,066 | — |
Class I | $3,127,852 | 0.3% |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $1,801,693,718 | $259,937,846 | $(122,921,354) | $137,016,492 |
2021 | |
Distributions paid from: | |
Ordinary Income | $22,294,305 |
Long-Term Capital Gains | 101,195,814 |
Total | $123,490,119 |
28 | MainStay MacKay Convertible Fund |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 2,539,252 | $52,606,161 |
Shares issued to shareholders in reinvestment of distributions | 8,000,955 | 159,536,023 |
Shares redeemed | (4,276,761) | (87,396,286) |
Net increase (decrease) in shares outstanding before conversion | 6,263,446 | 124,745,898 |
Shares converted into Class A (See Note 1) | 173,841 | 3,521,903 |
Shares converted from Class A (See Note 1) | (4,935) | (98,061) |
Net increase (decrease) | 6,432,352 | $128,169,740 |
Year ended October 31, 2021: | ||
Shares sold | 5,285,332 | $126,501,641 |
Shares issued to shareholders in reinvestment of distributions | 2,139,264 | 47,470,507 |
Shares redeemed | (4,849,726) | (115,920,808) |
Net increase (decrease) in shares outstanding before conversion | 2,574,870 | 58,051,340 |
Shares converted into Class A (See Note 1) | 1,081,489 | 25,339,661 |
Shares converted from Class A (See Note 1) | (19,008) | (458,361) |
Net increase (decrease) | 3,637,351 | $82,932,640 |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 63,560 | $1,313,955 |
Shares issued to shareholders in reinvestment of distributions | 494,374 | 9,857,770 |
Shares redeemed | (104,534) | (2,126,257) |
Net increase (decrease) in shares outstanding before conversion | 453,400 | 9,045,468 |
Shares converted into Investor Class (See Note 1) | 26,506 | 519,801 |
Shares converted from Investor Class (See Note 1) | (123,901) | (2,524,305) |
Net increase (decrease) | 356,005 | $7,040,964 |
Year ended October 31, 2021: | ||
Shares sold | 213,974 | $5,108,766 |
Shares issued to shareholders in reinvestment of distributions | 188,154 | 4,165,962 |
Shares redeemed | (205,771) | (4,914,608) |
Net increase (decrease) in shares outstanding before conversion | 196,357 | 4,360,120 |
Shares converted into Investor Class (See Note 1) | 61,379 | 1,489,594 |
Shares converted from Investor Class (See Note 1) | (908,162) | (21,202,336) |
Net increase (decrease) | (650,426) | $(15,352,622) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 4,808 | $104,011 |
Shares issued to shareholders in reinvestment of distributions | 90,226 | 1,763,027 |
Shares redeemed | (25,443) | (499,835) |
Net increase (decrease) in shares outstanding before conversion | 69,591 | 1,367,203 |
Shares converted from Class B (See Note 1) | (52,638) | (1,017,330) |
Net increase (decrease) | 16,953 | $349,873 |
Year ended October 31, 2021: | ||
Shares sold | 21,411 | $501,679 |
Shares issued to shareholders in reinvestment of distributions | 31,173 | 683,004 |
Shares redeemed | (62,432) | (1,473,676) |
Net increase (decrease) in shares outstanding before conversion | (9,848) | (288,993) |
Shares converted from Class B (See Note 1) | (86,082) | (2,040,685) |
Net increase (decrease) | (95,930) | $(2,329,678) |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 187,305 | $3,793,489 |
Shares issued to shareholders in reinvestment of distributions | 510,200 | 9,953,997 |
Shares redeemed | (461,333) | (9,027,170) |
Net increase (decrease) in shares outstanding before conversion | 236,172 | 4,720,316 |
Shares converted from Class C (See Note 1) | (25,397) | (495,103) |
Net increase (decrease) | 210,775 | $4,225,213 |
Year ended October 31, 2021: | ||
Shares sold | 362,202 | $8,480,082 |
Shares issued to shareholders in reinvestment of distributions | 162,889 | 3,564,001 |
Shares redeemed | (702,549) | (16,493,148) |
Net increase (decrease) in shares outstanding before conversion | (177,458) | (4,449,065) |
Shares converted from Class C (See Note 1) | (152,398) | (3,586,031) |
Net increase (decrease) | (329,856) | $(8,035,096) |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 12,862,027 | $263,500,100 |
Shares issued to shareholders in reinvestment of distributions | 8,183,203 | 163,575,373 |
Shares redeemed | (11,508,698) | (231,858,743) |
Net increase (decrease) in shares outstanding before conversion | 9,536,532 | 195,216,730 |
Shares converted into Class I (See Note 1) | 4,730 | 93,095 |
Net increase (decrease) | 9,541,262 | $195,309,825 |
Year ended October 31, 2021: | ||
Shares sold | 10,387,931 | $250,657,301 |
Shares issued to shareholders in reinvestment of distributions | 2,426,302 | 54,085,824 |
Shares redeemed | (14,587,388) | (348,370,550) |
Net increase (decrease) in shares outstanding before conversion | (1,773,155) | (43,627,425) |
Shares converted into Class I (See Note 1) | 18,947 | 458,158 |
Net increase (decrease) | (1,754,208) | $(43,169,267) |
30 | MainStay MacKay Convertible Fund |
32 | MainStay MacKay Convertible Fund |
34 | MainStay MacKay Convertible Fund |
36 | MainStay MacKay Convertible Fund |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 4.5% Initial Sales Charge | With sales charges | 1/3/1995 | -9.61% | -7.67% | 2.51% | 4.35% | 0.95% |
Excluding sales charges | -5.35 | -3.32 | 3.46 | 4.83 | 0.95 | |||
Investor Class Shares3 | Maximum 4% Initial Sales Charge | With sales charges | 2/28/2008 | -9.30 | -7.39 | 2.40 | 4.27 | 1.08 |
Excluding sales charges | -5.52 | -3.53 | 3.35 | 4.75 | 1.08 | |||
Class B Shares4 | Maximum 5% CDSC | With sales charges | 5/1/1986 | -10.41 | -8.77 | 2.28 | 3.98 | 1.83 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -5.80 | -4.17 | 2.60 | 3.98 | 1.83 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/1/1998 | -6.72 | -5.26 | 2.60 | 3.98 | 1.83 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -5.80 | -4.34 | 2.60 | 3.98 | 1.83 | ||
Class I Shares | No Sales Charge | 1/2/2004 | -5.23 | -3.08 | 3.70 | 5.10 | 0.70 | |
Class R1 Shares | No Sales Charge | 6/29/2012 | -5.29 | -3.19 | 3.60 | 4.98 | 0.80 | |
Class R2 Shares | No Sales Charge | 5/1/2008 | -5.39 | -3.41 | 3.37 | 4.73 | 1.05 | |
Class R3 Shares | No Sales Charge | 2/29/2016 | -5.53 | -3.67 | 3.07 | 5.57 | 1.30 | |
Class R6 Shares | No Sales Charge | 6/17/2013 | -5.00 | -2.94 | 3.86 | 4.68 | 0.56 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -5.46 | -3.59 | N/A | 1.37 | 1.33 |
1. | Not annualized. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Prior to June 30, 2020, the maximum initial sales charge was 4.5%, which is reflected in the applicable average annual total return figures shown. |
4. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
ICE BofA U.S. High Yield Constrained Index2 | -7.21% | -4.96% | 3.54% | 5.19% |
Morningstar High Yield Bond Category Average3 | -6.57 | -4.79 | 2.78 | 4.14 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The ICE BofAML Merrill Lynch U.S. High Yield Constrained Index is the Fund's primary broad-based securities market index for comparison purposes. The ICE BofAML U.S. High Yield Constrained Index is a market value-weighted index of all domestic and Yankee high-yield bonds, including deferred interest bonds and payment-in-kind securities. Issuers included in the Index have maturities of one year or more and have a credit rating lower than BBB-/Baa3, but are not in default. No single issuer may constitute greater than 2% of the Index. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Morningstar High Yield Bond Category Average is representative of funds that concentrate on lower-quality bonds, which are riskier than those of higher-quality companies. These portfolios primarily invest in U.S. high-income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor’s or Moody’s at the level of BB and below. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay MacKay High Yield Corporate Bond Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $946.50 | $4.54 | $1,020.13 | $4.71 | 0.94% |
Investor Class Shares | $1,000.00 | $944.80 | $5.26 | $1,019.39 | $5.46 | 1.09% |
Class B Shares | $1,000.00 | $942.00 | $8.86 | $1,015.67 | $9.20 | 1.84% |
Class C Shares | $1,000.00 | $942.00 | $8.86 | $1,015.67 | $9.20 | 1.84% |
Class I Shares | $1,000.00 | $947.70 | $3.33 | $1,021.37 | $3.46 | 0.69% |
Class R1 Shares | $1,000.00 | $947.10 | $3.81 | $1,020.88 | $3.96 | 0.79% |
Class R2 Shares | $1,000.00 | $946.10 | $5.02 | $1,019.64 | $5.21 | 1.04% |
Class R3 Shares | $1,000.00 | $944.70 | $6.22 | $1,018.40 | $6.46 | 1.29% |
Class R6 Shares | $1,000.00 | $950.00 | $2.76 | $1,021.97 | $2.86 | 0.57% |
SIMPLE Class Shares | $1,000.00 | $945.40 | $6.46 | $1,018.15 | $6.71 | 1.34% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Portfolio Composition as of April 30, 2022 (Unaudited)
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | CCO Holdings LLC, 4.25%-5.375%, due 5/1/27–1/15/34 |
2. | HCA, Inc., 3.50%-8.36%, due 5/1/23–11/6/33 |
3. | Carnival Corp., 4.00%-10.50%, due 2/1/26–5/1/29 |
4. | VICI Properties LP, 1.625%-5.75%, due 5/1/24–8/15/30 |
5. | TransDigm, Inc., 4.625%-8.00%, due 12/15/25–5/1/29 |
6. | MSCI, Inc., 3.25%-4.00%, due 11/15/29–8/15/33 |
7. | Yum! Brands, Inc., 3.625%-5.375%, due 1/15/30–4/1/32 |
8. | Sprint Capital Corp., 6.875%, due 11/15/28 |
9. | Gulfport Energy Corp. |
10. | T-Mobile US, Inc., 2.625%-5.375%, due 4/15/27–2/15/31 |
8 | MainStay MacKay High Yield Corporate Bond Fund |
10 | MainStay MacKay High Yield Corporate Bond Fund |
Principal Amount | Value | |
Long-Term Bonds 91.0% | ||
Convertible Bonds 1.2% | ||
Investment Companies 0.1% | ||
Ares Capital Corp. | ||
4.625%, due 3/1/24 | $ 14,285,000 | $ 15,803,495 |
Media 0.5% | ||
DISH Network Corp. | ||
2.375%, due 3/15/24 | 37,079,000 | 34,603,977 |
3.375%, due 8/15/26 | 25,200,000 | 21,672,000 |
56,275,977 | ||
Oil & Gas 0.3% | ||
Gulfport Energy Operating Corp. | ||
10.00% (10.00% Cash or 15.00% PIK), due 12/29/49 (a)(b) | 4,051,000 | 27,972,155 |
Oil & Gas Services 0.3% | ||
Forum Energy Technologies, Inc. | ||
9.00% (6.25% Cash and 2.75% PIK), due 8/4/25 (b) | 34,886,987 | 34,023,735 |
Total Convertible Bonds (Cost $109,250,523) | 134,075,362 | |
Corporate Bonds 86.6% | ||
Advertising 1.1% | ||
Lamar Media Corp. | ||
3.625%, due 1/15/31 | 38,590,000 | 33,573,300 |
3.75%, due 2/15/28 | 21,000,000 | 19,215,000 |
4.00%, due 2/15/30 | 18,500,000 | 16,576,925 |
4.875%, due 1/15/29 | 5,000,000 | 4,768,750 |
Outfront Media Capital LLC (c) | ||
4.25%, due 1/15/29 | 8,475,000 | 7,373,250 |
4.625%, due 3/15/30 | 6,305,000 | 5,641,714 |
5.00%, due 8/15/27 | 19,500,000 | 18,549,375 |
6.25%, due 6/15/25 | 15,216,000 | 15,406,200 |
121,104,514 | ||
Aerospace & Defense 1.8% | ||
F-Brasile SpA | ||
Series XR | ||
7.375%, due 8/15/26 (c) | 23,280,000 | 20,544,600 |
Rolls-Royce plc | ||
5.75%, due 10/15/27 (c) | 9,000,000 | 8,674,470 |
TransDigm UK Holdings plc | ||
6.875%, due 5/15/26 | 18,100,000 | 18,009,500 |
Principal Amount | Value | |
Aerospace & Defense (continued) | ||
TransDigm, Inc. | ||
4.625%, due 1/15/29 | $ 31,700,000 | $ 27,584,706 |
4.875%, due 5/1/29 | 22,920,000 | 20,083,650 |
6.25%, due 3/15/26 (c) | 80,375,000 | 79,973,125 |
7.50%, due 3/15/27 | 11,915,000 | 12,004,362 |
8.00%, due 12/15/25 (c) | 11,800,000 | 12,281,676 |
199,156,089 | ||
Airlines 1.0% | ||
American Airlines, Inc. (c) | ||
5.50%, due 4/20/26 | 18,160,000 | 18,001,100 |
5.75%, due 4/20/29 | 11,500,000 | 11,081,112 |
Delta Air Lines, Inc. | ||
4.50%, due 10/20/25 (c) | 17,200,000 | 17,083,596 |
4.75%, due 10/20/28 (c) | 23,500,000 | 23,225,924 |
7.00%, due 5/1/25 (c) | 3,506,000 | 3,752,845 |
7.375%, due 1/15/26 | 7,000,000 | 7,455,000 |
Mileage Plus Holdings LLC | ||
6.50%, due 6/20/27 (c) | 18,910,000 | 19,287,820 |
Spirit Loyalty Cayman Ltd. | ||
8.00%, due 9/20/25 (c) | 4,487,951 | 4,739,321 |
104,626,718 | ||
Auto Manufacturers 1.7% | ||
Ford Holdings LLC | ||
9.30%, due 3/1/30 | 30,695,000 | 36,527,050 |
Ford Motor Credit Co. LLC | ||
3.375%, due 11/13/25 | 12,000,000 | 11,522,160 |
4.00%, due 11/13/30 | 25,000,000 | 21,625,000 |
4.125%, due 8/17/27 | 4,000,000 | 3,708,200 |
4.271%, due 1/9/27 | 7,500,000 | 7,068,750 |
4.389%, due 1/8/26 | 2,500,000 | 2,412,500 |
5.125%, due 6/16/25 | 13,000,000 | 12,967,500 |
5.584%, due 3/18/24 | 3,660,000 | 3,701,138 |
General Motors Co. | ||
6.80%, due 10/1/27 | 5,500,000 | 5,913,516 |
General Motors Financial Co., Inc. | ||
4.35%, due 4/9/25 | 7,410,000 | 7,437,680 |
5.25%, due 3/1/26 | 14,220,000 | 14,602,092 |
JB Poindexter & Co., Inc. | ||
7.125%, due 4/15/26 (c) | 42,715,000 | 42,790,606 |
PM General Purchaser LLC | ||
9.50%, due 10/1/28 (c) | 15,000,000 | 14,475,000 |
184,751,192 | ||
Auto Parts & Equipment 1.9% | ||
Adient Global Holdings Ltd. | ||
4.875%, due 8/15/26 (c) | 24,525,000 | 21,869,678 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Auto Parts & Equipment (continued) | ||
Dealer Tire LLC | ||
8.00%, due 2/1/28 (c) | $ 15,790,000 | $ 15,446,410 |
Goodyear Tire & Rubber Co. (The) | ||
5.00%, due 7/15/29 | 13,400,000 | 11,948,780 |
IHO Verwaltungs GmbH (b)(c) | ||
4.75% (4.75% Cash or 5.50% PIK), due 9/15/26 | 34,785,000 | 32,697,900 |
6.00% (6.00% Cash or 6.75% PIK), due 5/15/27 | 36,674,000 | 33,990,930 |
6.375% (6.375% Cash or 7.125% PIK), due 5/15/29 | 36,820,000 | 34,979,000 |
Meritor, Inc. | ||
6.25%, due 6/1/25 (c) | 8,000,000 | 8,284,000 |
Real Hero Merger Sub 2, Inc. | ||
6.25%, due 2/1/29 (c) | 40,945,000 | 33,208,442 |
Tenneco, Inc. | ||
7.875%, due 1/15/29 (c) | 12,000,000 | 12,123,480 |
204,548,620 | ||
Biotechnology 0.1% | ||
Grifols Escrow Issuer SA | ||
4.75%, due 10/15/28 (c) | 11,595,000 | 10,579,278 |
Building Materials 1.1% | ||
Griffon Corp. | ||
5.75%, due 3/1/28 | 5,300,000 | 4,730,250 |
James Hardie International Finance DAC | ||
5.00%, due 1/15/28 (c) | 31,840,000 | 30,712,546 |
Koppers, Inc. | ||
6.00%, due 2/15/25 (c) | 27,535,000 | 26,640,112 |
New Enterprise Stone & Lime Co., Inc. | ||
5.25%, due 7/15/28 (c) | 10,300,000 | 9,414,612 |
PGT Innovations, Inc. | ||
4.375%, due 10/1/29 (c) | 16,000,000 | 14,038,880 |
Summit Materials LLC (c) | ||
5.25%, due 1/15/29 | 15,500,000 | 14,531,250 |
6.50%, due 3/15/27 | 21,730,000 | 21,647,426 |
121,715,076 | ||
Chemicals 1.8% | ||
ASP Unifrax Holdings, Inc. (c) | ||
5.25%, due 9/30/28 | 16,410,000 | 14,464,430 |
7.50%, due 9/30/29 | 21,280,000 | 17,449,600 |
CVR Partners LP | ||
6.125%, due 6/15/28 (c) | 6,175,000 | 6,051,500 |
Principal Amount | Value | |
Chemicals (continued) | ||
EverArc Escrow SARL | ||
5.00%, due 10/30/29 (c) | $ 25,585,000 | $ 22,433,440 |
GPD Cos., Inc. | ||
10.125%, due 4/1/26 (c) | 32,307,000 | 33,680,047 |
Innophos Holdings, Inc. | ||
9.375%, due 2/15/28 (c) | 29,011,000 | 30,461,550 |
Iris Holdings, Inc. | ||
8.75% (8.75% Cash or 9.50% PIK), due 2/15/26 (b)(c) | 17,275,000 | 16,568,453 |
NOVA Chemicals Corp. (c) | ||
4.875%, due 6/1/24 | 9,810,000 | 9,675,113 |
5.25%, due 6/1/27 | 12,500,000 | 11,843,750 |
SCIH Salt Holdings, Inc. (c) | ||
4.875%, due 5/1/28 | 5,000,000 | 4,322,725 |
6.625%, due 5/1/29 | 26,055,000 | 20,783,031 |
SCIL IV LLC | ||
5.375%, due 11/1/26 (c) | 10,200,000 | 9,307,500 |
SPCM SA | ||
3.375%, due 3/15/30 (c) | 5,750,000 | 4,873,125 |
201,914,264 | ||
Coal 0.2% | ||
Coronado Finance Pty. Ltd. | ||
10.75%, due 5/15/26 (c) | 8,820,000 | 9,459,450 |
Natural Resource Partners LP | ||
9.125%, due 6/30/25 (c) | 14,600,000 | 14,855,500 |
24,314,950 | ||
Commercial Services 2.7% | ||
AMN Healthcare, Inc. (c) | ||
4.00%, due 4/15/29 | 6,610,000 | 5,982,050 |
4.625%, due 10/1/27 | 10,977,000 | 10,539,347 |
Ashtead Capital, Inc. (c) | ||
4.00%, due 5/1/28 | 12,500,000 | 11,901,727 |
4.25%, due 11/1/29 | 7,000,000 | 6,686,703 |
Cimpress plc | ||
7.00%, due 6/15/26 (c) | 30,585,000 | 28,520,513 |
Gartner, Inc. (c) | ||
3.75%, due 10/1/30 | 19,870,000 | 17,720,066 |
4.50%, due 7/1/28 | 4,000,000 | 3,833,662 |
Graham Holdings Co. | ||
5.75%, due 6/1/26 (c) | 39,695,000 | 39,992,712 |
HealthEquity, Inc. | ||
4.50%, due 10/1/29 (c) | 4,000,000 | 3,655,000 |
Korn Ferry | ||
4.625%, due 12/15/27 (c) | 10,685,000 | 10,124,038 |
MPH Acquisition Holdings LLC (c) | ||
5.50%, due 9/1/28 | 11,150,000 | 10,327,688 |
5.75%, due 11/1/28 | 19,705,000 | 17,162,759 |
12 | MainStay MacKay High Yield Corporate Bond Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Commercial Services (continued) | ||
NESCO Holdings II, Inc. | ||
5.50%, due 4/15/29 (c) | $ 11,685,000 | $ 11,011,126 |
Ritchie Bros Auctioneers, Inc. | ||
5.375%, due 1/15/25 (c) | 30,925,000 | 31,006,951 |
Service Corp. International | ||
3.375%, due 8/15/30 | 9,000,000 | 7,740,000 |
United Rentals North America, Inc. | ||
3.75%, due 1/15/32 | 10,000,000 | 8,700,000 |
3.875%, due 11/15/27 | 1,920,000 | 1,838,400 |
3.875%, due 2/15/31 | 17,500,000 | 15,431,500 |
4.875%, due 1/15/28 | 10,700,000 | 10,411,742 |
5.25%, due 1/15/30 | 3,500,000 | 3,395,000 |
Williams Scotsman International, Inc. | ||
4.625%, due 8/15/28 (c) | 16,700,000 | 15,805,715 |
WW International, Inc. | ||
4.50%, due 4/15/29 (c) | 24,110,000 | 19,077,038 |
290,863,737 | ||
Computers 0.5% | ||
Condor Merger Sub, Inc. | ||
7.375%, due 2/15/30 (c) | 61,980,000 | 55,453,506 |
Cosmetics & Personal Care 0.3% | ||
Edgewell Personal Care Co. (c) | ||
4.125%, due 4/1/29 | 22,500,000 | 19,968,750 |
5.50%, due 6/1/28 | 13,505,000 | 13,066,087 |
33,034,837 | ||
Distribution & Wholesale 0.6% | ||
Avient Corp. | ||
5.25%, due 3/15/23 | 26,406,000 | 26,472,015 |
5.75%, due 5/15/25 (c) | 8,550,000 | 8,634,731 |
G-III Apparel Group Ltd. | ||
7.875%, due 8/15/25 (c) | 22,000,000 | 22,880,000 |
H&E Equipment Services, Inc. | ||
3.875%, due 12/15/28 (c) | 9,920,000 | 8,640,766 |
66,627,512 | ||
Diversified Financial Services 2.0% | ||
Credit Acceptance Corp. | ||
5.125%, due 12/31/24 (c) | 15,215,000 | 15,032,572 |
6.625%, due 3/15/26 | 32,875,000 | 33,203,750 |
Enact Holdings, Inc. | ||
6.50%, due 8/15/25 (c) | 25,600,000 | 25,468,928 |
Jane Street Group | ||
4.50%, due 11/15/29 (c) | 8,500,000 | 7,871,170 |
Principal Amount | Value | |
Diversified Financial Services (continued) | ||
Jefferies Finance LLC | ||
5.00%, due 8/15/28 (c) | $ 32,800,000 | $ 29,848,328 |
LPL Holdings, Inc. (c) | ||
4.00%, due 3/15/29 | 29,810,000 | 27,127,100 |
4.375%, due 5/15/31 | 10,000,000 | 9,130,000 |
4.625%, due 11/15/27 | 13,650,000 | 12,950,438 |
Oxford Finance LLC | ||
6.375%, due 2/1/27 (c) | 10,830,000 | 10,963,209 |
PennyMac Financial Services, Inc. (c) | ||
4.25%, due 2/15/29 | 13,000,000 | 10,451,090 |
5.75%, due 9/15/31 | 9,500,000 | 7,790,000 |
PRA Group, Inc. | ||
7.375%, due 9/1/25 (c) | 16,400,000 | 16,969,080 |
StoneX Group, Inc. | ||
8.625%, due 6/15/25 (c) | 8,196,000 | 8,571,213 |
215,376,878 | ||
Electric 1.7% | ||
Clearway Energy Operating LLC | ||
4.75%, due 3/15/28 (c) | 22,940,000 | 21,678,300 |
DPL, Inc. | ||
4.125%, due 7/1/25 | 22,825,000 | 21,912,000 |
Keystone Power Pass-Through Holders LLC | ||
13.00% (1.00% Cash and 12.00% PIK), due 6/1/24 (a)(b)(c) | 12,418,939 | 7,389,269 |
Leeward Renewable Energy Operations LLC | ||
4.25%, due 7/1/29 (c) | 16,665,000 | 14,915,175 |
NextEra Energy Operating Partners LP | ||
3.875%, due 10/15/26 (c) | 16,330,000 | 15,411,437 |
NRG Energy, Inc. | ||
5.75%, due 1/15/28 | 3,000,000 | 2,932,500 |
6.625%, due 1/15/27 | 3,220,000 | 3,260,250 |
Pattern Energy Operations LP | ||
4.50%, due 8/15/28 (c) | 18,500,000 | 17,297,500 |
PG&E Corp. | ||
5.00%, due 7/1/28 | 23,300,000 | 21,440,427 |
5.25%, due 7/1/30 | 13,000,000 | 11,814,270 |
Vistra Corp. (c)(d)(e) | ||
7.00% (5 Year Treasury Constant Maturity Rate + 5.74%), due 12/15/26 | 12,200,000 | 11,864,500 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Electric (continued) | ||
Vistra Corp. (c)(d)(e) (continued) | ||
8.00% (5 Year Treasury Constant Maturity Rate + 6.93%), due 10/15/26 | $ 30,800,000 | $ 30,992,500 |
Vistra Operations Co. LLC | ||
5.00%, due 7/31/27 (c) | 9,500,000 | 9,048,750 |
189,956,878 | ||
Electrical Components & Equipment 0.1% | ||
WESCO Distribution, Inc. (c) | ||
7.125%, due 6/15/25 | 6,665,000 | 6,923,269 |
7.25%, due 6/15/28 | 2,000,000 | 2,065,000 |
8,988,269 | ||
Electronics 0.1% | ||
Schweitzer-Mauduit International, Inc. | ||
6.875%, due 10/1/26 (c) | 12,500,000 | 11,229,625 |
Energy-Alternate Sources 0.2% | ||
Renewable Energy Group, Inc. | ||
5.875%, due 6/1/28 (c) | 16,550,000 | 17,528,933 |
Engineering & Construction 0.6% | ||
Artera Services LLC | ||
9.033%, due 12/4/25 (c) | 13,425,000 | 12,706,024 |
Great Lakes Dredge & Dock Corp. | ||
5.25%, due 6/1/29 (c) | 10,005,000 | 9,354,675 |
Railworks Holdings LP | ||
8.25%, due 11/15/28 (c) | 9,425,000 | 9,354,313 |
TopBuild Corp. | ||
4.125%, due 2/15/32 (c) | 16,250,000 | 14,000,294 |
Weekley Homes LLC | ||
4.875%, due 9/15/28 (c) | 21,580,000 | 19,061,074 |
64,476,380 | ||
Entertainment 2.7% | ||
Affinity Gaming | ||
6.875%, due 12/15/27 (c) | 12,640,000 | 11,839,130 |
Allen Media LLC | ||
10.50%, due 2/15/28 (c) | 14,870,000 | 13,420,175 |
Boyne USA, Inc. | ||
4.75%, due 5/15/29 (c) | 9,465,000 | 8,778,787 |
CCM Merger, Inc. | ||
6.375%, due 5/1/26 (c) | 5,000,000 | 4,987,500 |
CDI Escrow Issuer, Inc. | ||
5.75%, due 4/1/30 (c) | 20,000,000 | 19,278,200 |
Principal Amount | Value | |
Entertainment (continued) | ||
Churchill Downs, Inc. (c) | ||
4.75%, due 1/15/28 | $ 43,525,000 | $ 40,751,805 |
5.50%, due 4/1/27 | 38,727,000 | 38,026,429 |
International Game Technology plc | ||
6.25%, due 1/15/27 (c) | 25,700,000 | 26,095,009 |
Jacobs Entertainment, Inc. | ||
6.75%, due 2/15/29 (c) | 21,209,000 | 20,778,457 |
Live Nation Entertainment, Inc. | ||
6.50%, due 5/15/27 (c) | 39,280,000 | 40,745,144 |
Merlin Entertainments Ltd. | ||
5.75%, due 6/15/26 (c) | 34,400,000 | 33,626,000 |
Midwest Gaming Borrower LLC | ||
4.875%, due 5/1/29 (c) | 6,000,000 | 5,265,180 |
Motion Bondco DAC | ||
6.625%, due 11/15/27 (c) | 15,100,000 | 13,854,250 |
Powdr Corp. | ||
6.00%, due 8/1/25 (c) | 11,070,000 | 11,208,375 |
Vail Resorts, Inc. | ||
6.25%, due 5/15/25 (c) | 10,095,000 | 10,322,137 |
298,976,578 | ||
Food 1.6% | ||
B&G Foods, Inc. | ||
5.25%, due 4/1/25 | 24,375,000 | 23,209,948 |
Kraft Heinz Foods Co. | ||
3.875%, due 5/15/27 | 15,155,000 | 14,819,724 |
6.50%, due 2/9/40 | 18,749,000 | 20,591,186 |
6.875%, due 1/26/39 | 32,650,000 | 37,399,943 |
Lamb Weston Holdings, Inc. | ||
4.875%, due 5/15/28 (c) | 12,310,000 | 11,971,475 |
Land O'Lakes Capital Trust I | ||
7.45%, due 3/15/28 (c) | 18,586,000 | 20,816,320 |
Nathan's Famous, Inc. | ||
6.625%, due 11/1/25 (c) | 2,934,000 | 2,930,333 |
Post Holdings, Inc. (c) | ||
4.625%, due 4/15/30 | 5,000,000 | 4,275,000 |
5.50%, due 12/15/29 | 8,000,000 | 7,280,000 |
Simmons Foods, Inc. | ||
4.625%, due 3/1/29 (c) | 19,590,000 | 17,677,428 |
TreeHouse Foods, Inc. | ||
4.00%, due 9/1/28 | 13,600,000 | 11,081,552 |
172,052,909 | ||
Food Service 0.2% | ||
Aramark Services, Inc. | ||
6.375%, due 5/1/25 (c) | 26,315,000 | 26,798,407 |
14 | MainStay MacKay High Yield Corporate Bond Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Forest Products & Paper 0.9% | ||
Glatfelter Corp. | ||
4.75%, due 11/15/29 (c) | $ 9,550,000 | $ 7,640,000 |
Mercer International, Inc. | ||
5.125%, due 2/1/29 | 37,710,000 | 35,029,196 |
5.50%, due 1/15/26 | 2,585,000 | 2,562,666 |
Smurfit Kappa Treasury Funding DAC | ||
7.50%, due 11/20/25 | 45,070,000 | 51,033,862 |
96,265,724 | ||
Gas 0.7% | ||
AmeriGas Partners LP | ||
5.625%, due 5/20/24 | 20,106,000 | 20,078,857 |
5.75%, due 5/20/27 | 13,560,000 | 13,320,123 |
5.875%, due 8/20/26 | 25,075,000 | 24,758,303 |
Rockpoint Gas Storage Canada Ltd. | ||
7.00%, due 3/31/23 (c) | 19,230,000 | 19,037,700 |
77,194,983 | ||
Hand & Machine Tools 0.1% | ||
Werner FinCo LP | ||
8.75%, due 7/15/25 (c) | 13,030,000 | 13,411,779 |
Healthcare-Products 0.9% | ||
Hologic, Inc. (c) | ||
3.25%, due 2/15/29 | 31,100,000 | 27,705,902 |
4.625%, due 2/1/28 | 10,205,000 | 9,981,715 |
Teleflex, Inc. | ||
4.25%, due 6/1/28 (c) | 43,155,000 | 40,673,587 |
4.625%, due 11/15/27 | 5,000,000 | 4,900,000 |
Varex Imaging Corp. | ||
7.875%, due 10/15/27 (c) | 16,202,000 | 16,688,060 |
99,949,264 | ||
Healthcare-Services 5.0% | ||
Acadia Healthcare Co., Inc. (c) | ||
5.00%, due 4/15/29 | 7,000,000 | 6,632,500 |
5.50%, due 7/1/28 | 8,950,000 | 8,716,047 |
Catalent Pharma Solutions, Inc. (c) | ||
3.125%, due 2/15/29 | 27,560,000 | 23,914,914 |
3.50%, due 4/1/30 | 11,155,000 | 9,702,731 |
5.00%, due 7/15/27 | 15,395,000 | 14,913,906 |
Centene Corp. | ||
3.00%, due 10/15/30 | 20,000,000 | 17,400,000 |
3.375%, due 2/15/30 | 5,000,000 | 4,467,250 |
4.625%, due 12/15/29 | 15,070,000 | 14,595,672 |
Principal Amount | Value | |
Healthcare-Services (continued) | ||
CHS/Community Health Systems, Inc. | ||
5.25%, due 5/15/30 (c) | $ 11,500,000 | $ 10,081,475 |
DaVita, Inc. (c) | ||
3.75%, due 2/15/31 | 7,500,000 | 6,112,500 |
4.625%, due 6/1/30 | 10,780,000 | 9,378,600 |
Encompass Health Corp. | ||
4.50%, due 2/1/28 | 25,720,000 | 23,778,912 |
4.625%, due 4/1/31 | 8,200,000 | 7,236,500 |
4.75%, due 2/1/30 | 25,390,000 | 22,946,212 |
HCA, Inc. | ||
3.50%, due 9/1/30 | 20,920,000 | 18,740,764 |
5.25%, due 4/15/25 | 10,000,000 | 10,301,152 |
5.375%, due 2/1/25 | 26,525,000 | 27,287,594 |
5.375%, due 9/1/26 | 4,170,000 | 4,268,016 |
5.625%, due 9/1/28 | 11,000,000 | 11,367,840 |
5.875%, due 5/1/23 | 7,240,000 | 7,468,060 |
5.875%, due 2/15/26 | 25,000,000 | 25,887,500 |
5.875%, due 2/1/29 | 4,565,000 | 4,755,112 |
7.50%, due 11/6/33 | 44,975,000 | 52,733,187 |
7.58%, due 9/15/25 | 11,020,000 | 11,860,275 |
7.69%, due 6/15/25 | 31,650,000 | 34,261,125 |
8.36%, due 4/15/24 | 4,524,000 | 4,829,370 |
IQVIA, Inc. (c) | ||
5.00%, due 10/15/26 | 30,113,000 | 29,962,450 |
5.00%, due 5/15/27 | 5,000,000 | 4,954,100 |
Legacy LifePoint Health LLC | ||
6.75%, due 4/15/25 (c) | 9,190,000 | 9,373,800 |
LifePoint Health, Inc. | ||
5.375%, due 1/15/29 (c) | 17,378,000 | 14,858,190 |
ModivCare Escrow Issuer, Inc. | ||
5.00%, due 10/1/29 (c) | 19,500,000 | 17,062,500 |
ModivCare, Inc. | ||
5.875%, due 11/15/25 (c) | 7,000,000 | 6,860,000 |
Molina Healthcare, Inc. (c) | ||
3.875%, due 11/15/30 | 13,500,000 | 12,176,865 |
3.875%, due 5/15/32 | 10,300,000 | 9,043,194 |
4.375%, due 6/15/28 | 6,335,000 | 5,920,944 |
RegionalCare Hospital Partners Holdings, Inc. | ||
9.75%, due 12/1/26 (c) | 35,490,000 | 36,468,459 |
Select Medical Corp. | ||
6.25%, due 8/15/26 (c) | 9,950,000 | 9,875,375 |
550,193,091 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Holding Companies-Diversified 0.4% | ||
Stena International SA (c) | ||
5.75%, due 3/1/24 | $ 5,000,000 | $ 4,894,281 |
6.125%, due 2/1/25 | 34,995,000 | 34,695,652 |
39,589,933 | ||
Home Builders 2.1% | ||
Adams Homes, Inc. | ||
7.50%, due 2/15/25 (c) | 21,730,000 | 21,171,316 |
Ashton Woods USA LLC | ||
6.625%, due 1/15/28 (c) | 6,000,000 | 5,833,980 |
Brookfield Residential Properties, Inc. | ||
6.25%, due 9/15/27 (c) | 17,360,000 | 16,287,152 |
Century Communities, Inc. | ||
3.875%, due 8/15/29 (c) | 16,245,000 | 13,687,875 |
6.75%, due 6/1/27 | 26,205,000 | 26,493,517 |
Installed Building Products, Inc. | ||
5.75%, due 2/1/28 (c) | 24,630,000 | 23,334,754 |
M/I Homes, Inc. | ||
3.95%, due 2/15/30 | 7,950,000 | 6,538,547 |
4.95%, due 2/1/28 | 7,500,000 | 6,910,800 |
Meritage Homes Corp. | ||
3.875%, due 4/15/29 (c) | 21,415,000 | 19,161,071 |
5.125%, due 6/6/27 | 8,515,000 | 8,323,413 |
Picasso Finance Sub, Inc. | ||
6.125%, due 6/15/25 (c) | 17,550,000 | 17,876,430 |
Shea Homes LP (c) | ||
4.75%, due 2/15/28 | 26,925,000 | 24,097,875 |
4.75%, due 4/1/29 | 9,875,000 | 8,546,774 |
STL Holding Co. LLC | ||
7.50%, due 2/15/26 (c) | 12,000,000 | 11,340,000 |
Winnebago Industries, Inc. | ||
6.25%, due 7/15/28 (c) | 16,795,000 | 16,669,038 |
226,272,542 | ||
Household Products & Wares 0.2% | ||
Central Garden & Pet Co. | ||
4.125%, due 10/15/30 | 9,950,000 | 8,601,078 |
4.125%, due 4/30/31 (c) | 10,000,000 | 8,575,000 |
Spectrum Brands, Inc. | ||
5.75%, due 7/15/25 | 7,787,000 | 7,864,870 |
25,040,948 | ||
Housewares 0.2% | ||
Newell Brands, Inc. | ||
4.875%, due 6/1/25 | 5,035,000 | 5,100,329 |
Principal Amount | Value | |
Housewares (continued) | ||
Scotts Miracle-Gro Co. (The) | ||
4.00%, due 4/1/31 | $ 14,565,000 | $ 11,979,713 |
4.375%, due 2/1/32 | 5,430,000 | 4,534,050 |
21,614,092 | ||
Insurance 1.0% | ||
BroadStreet Partners, Inc. | ||
5.875%, due 4/15/29 (c) | 11,800,000 | 10,236,500 |
Fairfax Financial Holdings Ltd. | ||
8.30%, due 4/15/26 | 5,435,000 | 6,186,965 |
Fidelity & Guaranty Life Holdings, Inc. | ||
5.50%, due 5/1/25 (c) | 14,850,000 | 15,342,398 |
MGIC Investment Corp. | ||
5.25%, due 8/15/28 | 21,175,000 | 19,878,878 |
NMI Holdings, Inc. | ||
7.375%, due 6/1/25 (c) | 16,000,000 | 16,680,000 |
Radian Group, Inc. | ||
4.875%, due 3/15/27 | 5,000,000 | 4,825,100 |
Ryan Specialty Group LLC | ||
4.375%, due 2/1/30 (c) | 6,500,000 | 5,928,195 |
USI, Inc. | ||
6.875%, due 5/1/25 (c) | 25,170,000 | 24,785,654 |
103,863,690 | ||
Internet 2.0% | ||
Cars.com, Inc. | ||
6.375%, due 11/1/28 (c) | 17,470,000 | 16,369,739 |
Match Group Holdings II LLC | ||
3.625%, due 10/1/31 (c) | 8,250,000 | 6,863,175 |
Netflix, Inc. | ||
3.625%, due 6/15/25 (c) | 5,000,000 | 4,887,500 |
4.875%, due 4/15/28 | 10,131,000 | 9,917,641 |
4.875%, due 6/15/30 (c) | 11,000,000 | 10,725,110 |
5.375%, due 11/15/29 (c) | 9,430,000 | 9,439,430 |
5.75%, due 3/1/24 | 24,961,000 | 25,897,038 |
5.875%, due 2/15/25 | 7,411,000 | 7,688,913 |
5.875%, due 11/15/28 | 32,450,000 | 33,423,500 |
Northwest Fiber LLC | ||
4.75%, due 4/30/27 (c) | 5,500,000 | 5,003,240 |
Uber Technologies, Inc. (c) | ||
6.25%, due 1/15/28 | 4,125,000 | 4,083,750 |
7.50%, due 5/15/25 | 12,075,000 | 12,467,558 |
7.50%, due 9/15/27 | 23,710,000 | 24,396,879 |
VeriSign, Inc. | ||
4.75%, due 7/15/27 | 19,419,000 | 19,508,242 |
5.25%, due 4/1/25 | 26,661,000 | 27,555,288 |
218,227,003 |
16 | MainStay MacKay High Yield Corporate Bond Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Investment Companies 1.4% | ||
Ares Capital Corp. | ||
4.20%, due 6/10/24 | $ 5,000,000 | $ 5,003,146 |
Compass Group Diversified Holdings LLC (c) | ||
5.00%, due 1/15/32 | 11,550,000 | 9,817,500 |
5.25%, due 4/15/29 | 34,750,000 | 31,188,125 |
FS Energy and Power Fund | ||
7.50%, due 8/15/23 (c) | 84,732,000 | 86,108,895 |
Icahn Enterprises LP | ||
5.25%, due 5/15/27 | 13,705,000 | 12,802,800 |
6.25%, due 5/15/26 | 12,770,000 | 12,660,433 |
157,580,899 | ||
Iron & Steel 1.1% | ||
Allegheny Ludlum LLC | ||
6.95%, due 12/15/25 | 22,688,000 | 23,794,040 |
Big River Steel LLC | ||
6.625%, due 1/31/29 (c) | 29,600,000 | 30,266,000 |
Mineral Resources Ltd. (c) | ||
8.00%, due 11/1/27 | 8,450,000 | 8,418,313 |
8.125%, due 5/1/27 | 49,640,000 | 50,396,017 |
8.50%, due 5/1/30 | 8,960,000 | 8,848,000 |
121,722,370 | ||
Leisure Time 2.2% | ||
Carnival Corp. (c) | ||
4.00%, due 8/1/28 | 38,000,000 | 34,205,320 |
5.75%, due 3/1/27 | 62,000,000 | 56,141,930 |
6.00%, due 5/1/29 | 32,000,000 | 28,720,000 |
7.625%, due 3/1/26 | 14,160,000 | 13,859,100 |
9.875%, due 8/1/27 | 31,843,000 | 34,318,634 |
10.50%, due 2/1/26 | 28,445,000 | 31,289,500 |
CWT Travel Group, Inc. | ||
8.50%, due 11/19/26 (c) | 8,513,374 | 8,406,957 |
Royal Caribbean Cruises Ltd. (c) | ||
5.375%, due 7/15/27 | 12,400,000 | 11,394,918 |
5.50%, due 4/1/28 | 23,770,000 | 21,690,125 |
240,026,484 | ||
Lodging 1.9% | ||
Boyd Gaming Corp. | ||
4.75%, due 12/1/27 | 37,570,000 | 35,508,910 |
4.75%, due 6/15/31 (c) | 47,500,000 | 42,954,250 |
8.625%, due 6/1/25 (c) | 4,000,000 | 4,169,960 |
Hilton Domestic Operating Co., Inc. | ||
3.75%, due 5/1/29 (c) | 5,000,000 | 4,530,100 |
4.00%, due 5/1/31 (c) | 28,340,000 | 25,345,879 |
4.875%, due 1/15/30 | 24,325,000 | 23,466,327 |
Principal Amount | Value | |
Lodging (continued) | ||
Hilton Domestic Operating Co., Inc. (continued) | ||
5.375%, due 5/1/25 (c) | $ 5,000,000 | $ 5,101,550 |
5.75%, due 5/1/28 (c) | 12,500,000 | 12,678,125 |
Hyatt Hotels Corp. (f) | ||
5.625%, due 4/23/25 | 7,715,000 | 7,944,640 |
6.00%, due 4/23/30 | 8,095,000 | 8,496,329 |
Marriott International, Inc. | ||
Series GG | ||
3.50%, due 10/15/32 | 9,200,000 | 8,216,285 |
Series FF | ||
4.625%, due 6/15/30 | 3,000,000 | 2,958,096 |
Series EE | ||
5.75%, due 5/1/25 | 2,957,000 | 3,099,181 |
Station Casinos LLC (c) | ||
4.50%, due 2/15/28 | 9,945,000 | 9,026,828 |
4.625%, due 12/1/31 | 16,250,000 | 13,618,394 |
207,114,854 | ||
Machinery—Construction & Mining 0.3% | ||
Terex Corp. | ||
5.00%, due 5/15/29 (c) | 7,000,000 | 6,432,580 |
Vertiv Group Corp. | ||
4.125%, due 11/15/28 (c) | 29,010,000 | 25,274,962 |
31,707,542 | ||
Machinery-Diversified 0.5% | ||
Briggs & Stratton Corp. Escrow Claim Shares | ||
6.875%, due 12/15/20 (g)(h) | 9,200,000 | 92,000 |
Stevens Holding Co., Inc. | ||
6.125%, due 10/1/26 (c) | 18,315,000 | 18,360,788 |
TK Elevator Holdco GmbH | ||
7.625%, due 7/15/28 (c) | 9,526,000 | 9,167,346 |
TK Elevator U.S. Newco, Inc. | ||
5.25%, due 7/15/27 (c) | 25,000,000 | 23,420,500 |
51,040,634 | ||
Media 5.4% | ||
Block Communications, Inc. | ||
4.875%, due 3/1/28 (c) | 15,000,000 | 14,025,000 |
Cable One, Inc. | ||
4.00%, due 11/15/30 (c) | 37,800,000 | 32,432,778 |
CCO Holdings LLC | ||
4.25%, due 2/1/31 (c) | 35,815,000 | 30,184,882 |
4.25%, due 1/15/34 (c) | 25,550,000 | 20,312,250 |
4.50%, due 8/15/30 (c) | 42,430,000 | 37,020,175 |
4.50%, due 5/1/32 | 41,900,000 | 35,244,394 |
4.50%, due 6/1/33 (c) | 17,460,000 | 14,284,375 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Media (continued) | ||
CCO Holdings LLC (continued) | ||
4.75%, due 3/1/30 (c) | $ 31,835,000 | $ 28,452,531 |
5.00%, due 2/1/28 (c) | 21,000,000 | 20,002,500 |
5.125%, due 5/1/27 (c) | 41,225,000 | 40,185,305 |
5.375%, due 6/1/29 (c) | 13,495,000 | 12,786,513 |
CSC Holdings LLC (c) | ||
5.75%, due 1/15/30 | 23,900,000 | 19,837,000 |
6.50%, due 2/1/29 | 7,000,000 | 6,650,000 |
Diamond Sports Group LLC | ||
6.625%, due 8/15/27 (c) | 7,000,000 | 1,452,500 |
DIRECTV Financing LLC | ||
5.875%, due 8/15/27 (c) | 31,700,000 | 29,837,625 |
DISH DBS Corp. | ||
5.875%, due 7/15/22 | 14,537,000 | 14,554,299 |
7.75%, due 7/1/26 | 18,675,000 | 17,566,919 |
LCPR Senior Secured Financing DAC (c) | ||
5.125%, due 7/15/29 | 12,100,000 | 11,014,691 |
6.75%, due 10/15/27 | 48,312,000 | 48,011,258 |
News Corp. (c) | ||
3.875%, due 5/15/29 | 42,070,000 | 38,040,641 |
5.125%, due 2/15/32 | 11,110,000 | 10,610,050 |
Sirius XM Radio, Inc. (c) | ||
3.125%, due 9/1/26 | 3,000,000 | 2,763,750 |
3.875%, due 9/1/31 | 16,580,000 | 14,001,976 |
4.00%, due 7/15/28 | 2,970,000 | 2,684,138 |
5.00%, due 8/1/27 | 10,000,000 | 9,650,000 |
5.50%, due 7/1/29 | 11,590,000 | 11,145,639 |
Sterling Entertainment Enterprises LLC | ||
10.25%, due 1/15/25 (a)(h)(i)(j) | 20,000,000 | 20,000,000 |
Townsquare Media, Inc. | ||
6.875%, due 2/1/26 (c) | 4,155,000 | 4,136,718 |
Videotron Ltd. | ||
5.375%, due 6/15/24 (c) | 17,850,000 | 18,028,500 |
Virgin Media Finance plc | ||
5.00%, due 7/15/30 (c) | 12,500,000 | 10,875,000 |
VZ Secured Financing BV | ||
5.00%, due 1/15/32 (c) | 22,545,000 | 19,454,306 |
595,245,713 | ||
Metal Fabricate & Hardware 0.2% | ||
Advanced Drainage Systems, Inc. | ||
5.00%, due 9/30/27 (c) | 18,315,000 | 17,696,869 |
Park-Ohio Industries, Inc. | ||
6.625%, due 4/15/27 | 4,205,000 | 3,153,750 |
20,850,619 |
Principal Amount | Value | |
Mining 1.9% | ||
Arconic Corp. | ||
6.00%, due 5/15/25 (c) | $ 8,695,000 | $ 8,724,650 |
Century Aluminum Co. | ||
7.50%, due 4/1/28 (c) | 23,550,000 | 23,638,312 |
Compass Minerals International, Inc. (c) | ||
4.875%, due 7/15/24 | 7,000,000 | 6,930,000 |
6.75%, due 12/1/27 | 31,535,000 | 31,925,088 |
Constellium SE | ||
3.75%, due 4/15/29 (c) | 8,700,000 | 7,524,021 |
First Quantum Minerals Ltd. (c) | ||
6.875%, due 10/15/27 | 10,000,000 | 10,050,000 |
7.25%, due 4/1/23 | 7,592,000 | 7,590,254 |
7.50%, due 4/1/25 | 5,000,000 | 5,061,428 |
IAMGOLD Corp. | ||
5.75%, due 10/15/28 (c) | 28,000,000 | 23,820,720 |
Joseph T Ryerson & Son, Inc. | ||
8.50%, due 8/1/28 (c) | 7,800,000 | 8,385,000 |
Novelis Corp. (c) | ||
3.25%, due 11/15/26 | 25,000,000 | 22,811,250 |
3.875%, due 8/15/31 | 29,845,000 | 25,592,087 |
4.75%, due 1/30/30 | 31,800,000 | 29,247,414 |
211,300,224 | ||
Miscellaneous—Manufacturing 1.1% | ||
Amsted Industries, Inc. (c) | ||
4.625%, due 5/15/30 | 2,100,000 | 1,932,000 |
5.625%, due 7/1/27 | 24,395,000 | 24,212,037 |
EnPro Industries, Inc. | ||
5.75%, due 10/15/26 | 21,784,000 | 21,784,000 |
FXI Holdings, Inc. (c) | ||
7.875%, due 11/1/24 | 2,445,000 | 2,409,988 |
12.25%, due 11/15/26 | 22,892,000 | 24,379,980 |
Hillenbrand, Inc. | ||
5.00%, due 9/15/26 (f) | 5,000,000 | 4,925,000 |
5.75%, due 6/15/25 | 7,850,000 | 7,908,875 |
LSB Industries, Inc. | ||
6.25%, due 10/15/28 (c) | 27,705,000 | 27,149,238 |
114,701,118 | ||
Office Furnishings 0.1% | ||
Interface, Inc. | ||
5.50%, due 12/1/28 (c) | 16,952,000 | 15,359,021 |
Oil & Gas 6.9% | ||
Ascent Resources Utica Holdings LLC (c) | ||
7.00%, due 11/1/26 | 14,500,000 | 14,613,680 |
18 | MainStay MacKay High Yield Corporate Bond Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Oil & Gas (continued) | ||
Ascent Resources Utica Holdings LLC (c) (continued) | ||
9.00%, due 11/1/27 | $ 11,295,000 | $ 15,715,265 |
California Resources Corp. | ||
7.125%, due 2/1/26 (c) | 11,000,000 | 11,188,650 |
Callon Petroleum Co. | ||
6.125%, due 10/1/24 | 17,750,000 | 17,523,865 |
9.00%, due 4/1/25 (c) | 25,965,000 | 27,522,900 |
Centennial Resource Production LLC (c) | ||
5.375%, due 1/15/26 | 18,867,000 | 18,395,325 |
6.875%, due 4/1/27 | 23,400,000 | 23,354,253 |
Chevron USA, Inc. | ||
3.85%, due 1/15/28 | 5,560,000 | 5,601,889 |
3.90%, due 11/15/24 | 5,815,000 | 5,895,505 |
Civitas Resources, Inc. | ||
5.00%, due 10/15/26 (c) | 5,500,000 | 5,225,000 |
7.50%, due 4/30/26 | 6,800,000 | 6,800,000 |
Colgate Energy Partners III LLC | ||
7.75%, due 2/15/26 (c) | 20,645,000 | 21,625,844 |
Comstock Resources, Inc. | ||
6.75%, due 3/1/29 (c) | 8,080,000 | 8,170,334 |
Earthstone Energy Holdings LLC | ||
8.00%, due 4/15/27 (c) | 7,000,000 | 6,975,115 |
Encino Acquisition Partners Holdings LLC | ||
8.50%, due 5/1/28 (c) | 38,705,000 | 38,801,762 |
Endeavor Energy Resources LP | ||
6.625%, due 7/15/25 (c) | 7,025,000 | 7,218,188 |
EQT Corp. | ||
6.625%, due 2/1/25 (f) | 18,899,000 | 19,669,890 |
Gulfport Energy Operating Corp. | ||
8.00%, due 5/17/26 | 1,362,721 | 1,401,654 |
8.00%, due 5/17/26 (c) | 30,637,302 | 31,512,610 |
Gulfport Energy Operating Corp. Escrow Claim Shares (g)(i)(j) | ||
6.00%, due 10/15/24 | 50,754,000 | — |
6.375%, due 5/15/25 | 24,354,000 | — |
6.375%, due 1/15/26 | 11,915,000 | — |
6.625%, due 5/1/23 | 17,072,000 | — |
Hilcorp Energy I LP (c) | ||
5.75%, due 2/1/29 | 4,000,000 | 3,920,000 |
6.00%, due 4/15/30 | 8,000,000 | 7,940,000 |
6.00%, due 2/1/31 | 4,395,000 | 4,241,351 |
6.25%, due 4/15/32 | 8,750,000 | 8,525,169 |
Laredo Petroleum, Inc. | ||
7.75%, due 7/31/29 (c) | 16,330,000 | 16,003,400 |
Principal Amount | Value | |
Oil & Gas (continued) | ||
Marathon Oil Corp. | ||
4.40%, due 7/15/27 | $ 7,825,000 | $ 7,812,872 |
6.80%, due 3/15/32 | 5,000,000 | 5,587,038 |
Matador Resources Co. | ||
5.875%, due 9/15/26 | 25,545,000 | 25,078,548 |
Moss Creek Resources Holdings, Inc. | ||
7.50%, due 1/15/26 (c) | 11,465,000 | 10,513,290 |
Murphy Oil Corp. | ||
6.875%, due 8/15/24 | 4,026,000 | 4,028,174 |
Occidental Petroleum Corp. | ||
5.55%, due 3/15/26 | 30,505,000 | 31,267,625 |
5.875%, due 9/1/25 | 6,000,000 | 6,162,420 |
6.125%, due 1/1/31 | 10,000,000 | 10,510,600 |
6.375%, due 9/1/28 | 6,635,000 | 6,966,750 |
6.45%, due 9/15/36 | 6,850,000 | 7,432,250 |
6.625%, due 9/1/30 | 13,270,000 | 14,381,362 |
6.95%, due 7/1/24 | 13,950,000 | 14,630,062 |
7.15%, due 5/15/28 | 4,000,000 | 4,320,000 |
Parkland Corp. (c) | ||
4.50%, due 10/1/29 | 14,985,000 | 13,116,970 |
4.625%, due 5/1/30 | 14,000,000 | 12,250,000 |
5.875%, due 7/15/27 | 12,025,000 | 11,660,643 |
PBF Holding Co. LLC | ||
9.25%, due 5/15/25 (c) | 23,790,000 | 24,662,855 |
PDC Energy, Inc. | ||
6.125%, due 9/15/24 | 11,454,000 | 11,480,001 |
Rockcliff Energy II LLC | ||
5.50%, due 10/15/29 (c) | 21,900,000 | 21,243,000 |
Southwestern Energy Co. | ||
4.75%, due 2/1/32 | 3,000,000 | 2,836,890 |
5.375%, due 3/15/30 | 15,330,000 | 15,136,075 |
5.95%, due 1/23/25 (f) | 3,504,000 | 3,554,388 |
7.75%, due 10/1/27 | 2,500,000 | 2,608,850 |
8.375%, due 9/15/28 | 3,000,000 | 3,243,750 |
Sunoco LP | ||
6.00%, due 4/15/27 | 19,965,000 | 20,114,538 |
Talos Production, Inc. | ||
12.00%, due 1/15/26 | 81,465,000 | 87,593,612 |
Transocean Guardian Ltd. | ||
5.875%, due 1/15/24 (c) | 7,946,835 | 7,606,392 |
Transocean Pontus Ltd. | ||
6.125%, due 8/1/25 (c) | 4,148,175 | 4,075,375 |
Transocean Poseidon Ltd. | ||
6.875%, due 2/1/27 (c) | 17,990,625 | 17,310,939 |
Transocean Sentry Ltd. | ||
5.375%, due 5/15/23 (c) | 10,414,485 | 10,102,051 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Oil & Gas (continued) | ||
Viper Energy Partners LP | ||
5.375%, due 11/1/27 (c) | $ 8,225,000 | $ 8,189,468 |
753,318,437 | ||
Oil & Gas Services 0.8% | ||
Bristow Group, Inc. | ||
6.875%, due 3/1/28 (c) | 25,000,000 | 24,500,039 |
Nine Energy Service, Inc. | ||
8.75%, due 11/1/23 (c) | 36,055,000 | 22,714,650 |
TechnipFMC plc | ||
6.50%, due 2/1/26 (c) | 20,547,000 | 21,266,145 |
Weatherford International Ltd. (c) | ||
6.50%, due 9/15/28 | 11,500,000 | 11,615,000 |
8.625%, due 4/30/30 | 12,195,000 | 12,071,342 |
92,167,176 | ||
Packaging & Containers 0.4% | ||
ARD Finance SA | ||
6.50% (6.50% Cash or 7.25% PIK), due 6/30/27 (b)(c) | 13,208,936 | 11,095,506 |
Cascades, Inc. (c) | ||
5.125%, due 1/15/26 | 11,306,000 | 10,995,085 |
5.375%, due 1/15/28 | 23,385,000 | 22,566,525 |
44,657,116 | ||
Pharmaceuticals 2.8% | ||
180 Medical, Inc. | ||
3.875%, due 10/15/29 (c) | 20,670,000 | 18,396,300 |
Bausch Health Americas, Inc. (c) | ||
8.50%, due 1/31/27 | 11,915,000 | 11,274,807 |
9.25%, due 4/1/26 | 14,000,000 | 13,897,800 |
Bausch Health Cos., Inc. (c) | ||
5.00%, due 1/30/28 | 8,815,000 | 6,502,561 |
5.25%, due 1/30/30 | 2,390,000 | 1,658,899 |
5.25%, due 2/15/31 | 2,140,000 | 1,487,300 |
6.125%, due 4/15/25 | 14,676,000 | 14,719,148 |
6.25%, due 2/15/29 | 9,000,000 | 6,549,840 |
7.00%, due 1/15/28 | 7,000,000 | 5,775,000 |
7.25%, due 5/30/29 | 5,000,000 | 3,782,225 |
BellRing Brands, Inc. | ||
7.00%, due 3/15/30 (c) | 16,280,000 | 15,913,700 |
Cheplapharm Arzneimittel GmbH | ||
5.50%, due 1/15/28 (c) | 5,000,000 | 4,787,050 |
Jazz Securities DAC | ||
4.375%, due 1/15/29 (c) | 41,840,000 | 38,545,100 |
Organon & Co. (c) | ||
4.125%, due 4/30/28 | 31,900,000 | 29,676,570 |
5.125%, due 4/30/31 | 25,000,000 | 22,593,750 |
Principal Amount | Value | |
Pharmaceuticals (continued) | ||
Owens & Minor, Inc. (c) | ||
4.50%, due 3/31/29 | $ 9,570,000 | $ 8,608,914 |
6.625%, due 4/1/30 | 14,660,000 | 14,350,527 |
Par Pharmaceutical, Inc. | ||
7.50%, due 4/1/27 (c) | 26,701,000 | 24,361,458 |
Prestige Brands, Inc. (c) | ||
3.75%, due 4/1/31 | 25,985,000 | 22,028,784 |
5.125%, due 1/15/28 | 24,750,000 | 23,512,500 |
Vizient, Inc. | ||
6.25%, due 5/15/27 (c) | 14,300,000 | 14,764,750 |
303,186,983 | ||
Pipelines 5.0% | ||
ANR Pipeline Co. | ||
7.375%, due 2/15/24 | 2,555,000 | 2,710,814 |
Antero Midstream Partners LP (c) | ||
5.375%, due 6/15/29 | 5,000,000 | 4,686,600 |
5.75%, due 3/1/27 | 4,000,000 | 3,894,920 |
5.75%, due 1/15/28 | 8,000,000 | 7,778,480 |
Cheniere Energy Partners LP | ||
3.25%, due 1/31/32 (c) | 5,000,000 | 4,275,000 |
4.00%, due 3/1/31 | 25,000,000 | 22,627,625 |
CNX Midstream Partners LP | ||
4.75%, due 4/15/30 (c) | 5,360,000 | 4,931,200 |
DT Midstream, Inc. (c) | ||
4.125%, due 6/15/29 | 5,000,000 | 4,550,000 |
4.375%, due 6/15/31 | 11,195,000 | 10,029,377 |
Energy Transfer LP | ||
3.90%, due 5/15/24 (f) | 3,000,000 | 2,991,048 |
4.40%, due 3/15/27 | 15,475,000 | 15,346,792 |
4.95%, due 5/15/28 | 16,610,000 | 16,572,295 |
EQM Midstream Partners LP (c) | ||
4.50%, due 1/15/29 | 7,705,000 | 6,936,195 |
4.75%, due 1/15/31 | 11,005,000 | 9,812,058 |
6.00%, due 7/1/25 | 12,250,000 | 12,140,362 |
6.50%, due 7/1/27 | 8,900,000 | 8,989,000 |
Genesis Energy LP | ||
6.25%, due 5/15/26 | 8,635,000 | 8,052,137 |
7.75%, due 2/1/28 | 17,925,000 | 17,252,812 |
8.00%, due 1/15/27 | 19,450,000 | 19,075,391 |
Harvest Midstream I LP | ||
7.50%, due 9/1/28 (c) | 23,250,000 | 23,590,845 |
Hess Midstream Operations LP | ||
5.625%, due 2/15/26 (c) | 1,000,000 | 1,000,000 |
Holly Energy Partners LP (c) | ||
5.00%, due 2/1/28 | 9,870,000 | 9,390,417 |
6.375%, due 4/15/27 | 5,625,000 | 5,737,500 |
20 | MainStay MacKay High Yield Corporate Bond Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Pipelines (continued) | ||
ITT Holdings LLC | ||
6.50%, due 8/1/29 (c) | $ 10,215,000 | $ 9,040,275 |
MPLX LP | ||
4.875%, due 12/1/24 | 12,000,000 | 12,229,876 |
New Fortress Energy, Inc. | ||
6.50%, due 9/30/26 (c) | 11,055,000 | 10,699,250 |
NGL Energy Operating LLC | ||
7.50%, due 2/1/26 (c) | 11,760,000 | 11,078,920 |
NGPL PipeCo LLC (c) | ||
4.875%, due 8/15/27 | 12,555,000 | 12,704,538 |
7.768%, due 12/15/37 | 10,630,000 | 12,354,265 |
NuStar Logistics LP | ||
5.75%, due 10/1/25 | 3,000,000 | 2,985,000 |
6.00%, due 6/1/26 | 15,000,000 | 14,964,600 |
Oasis Midstream Partners LP | ||
8.00%, due 4/1/29 (c) | 8,600,000 | 8,965,500 |
PBF Logistics LP | ||
6.875%, due 5/15/23 | 6,050,000 | 6,035,178 |
Plains All American Pipeline LP | ||
Series B | ||
6.125%, due 11/15/22 (e)(k) | 45,303,000 | 37,714,747 |
Rockies Express Pipeline LLC (c) | ||
3.60%, due 5/15/25 | 7,000,000 | 6,647,970 |
4.80%, due 5/15/30 | 15,220,000 | 13,940,683 |
Ruby Pipeline LLC | ||
(zero coupon), due 4/1/22 (c)(f)(g)(l) | 54,771,242 | 48,609,478 |
Summit Midstream Holdings LLC | ||
8.50%, due 10/15/26 (c) | 29,030,000 | 27,103,279 |
Tallgrass Energy Partners LP (c) | ||
5.50%, due 1/15/28 | 3,350,000 | 3,122,736 |
6.00%, due 3/1/27 | 19,000,000 | 18,240,000 |
7.50%, due 10/1/25 | 8,500,000 | 8,674,420 |
Targa Resources Partners LP | ||
5.00%, due 1/15/28 | 6,320,000 | 6,215,404 |
6.50%, due 7/15/27 | 10,116,000 | 10,420,896 |
TransMontaigne Partners LP | ||
6.125%, due 2/15/26 | 25,447,000 | 24,906,251 |
Western Midstream Operating LP | ||
4.65%, due 7/1/26 | 5,000,000 | 4,931,250 |
4.75%, due 8/15/28 | 12,000,000 | 11,685,000 |
5.75%, due 2/1/50 (f) | 3,000,000 | 2,643,480 |
548,283,864 | ||
Real Estate 0.8% | ||
Howard Hughes Corp. (The) (c) | ||
4.125%, due 2/1/29 | 10,000,000 | 9,003,836 |
Principal Amount | Value | |
Real Estate (continued) | ||
Howard Hughes Corp. (The) (c) (continued) | ||
4.375%, due 2/1/31 | $ 10,155,000 | $ 9,032,060 |
Newmark Group, Inc. | ||
6.125%, due 11/15/23 | 43,914,000 | 44,757,149 |
Realogy Group LLC | ||
5.25%, due 4/15/30 (c) | 24,850,000 | 20,133,221 |
82,926,266 | ||
Real Estate Investment Trusts 2.8% | ||
CTR Partnership LP | ||
3.875%, due 6/30/28 (c) | 12,425,000 | 11,244,625 |
GLP Capital LP | ||
5.25%, due 6/1/25 | 10,000,000 | 10,178,000 |
5.30%, due 1/15/29 | 14,080,000 | 14,083,801 |
5.375%, due 11/1/23 | 6,000,000 | 6,086,160 |
5.375%, due 4/15/26 | 5,620,000 | 5,733,228 |
Host Hotels & Resorts LP | ||
Series I | ||
3.50%, due 9/15/30 | 10,650,000 | 9,567,481 |
MPT Operating Partnership LP | ||
5.00%, due 10/15/27 | 21,025,000 | 20,173,698 |
5.25%, due 8/1/26 | 5,500,000 | 5,508,305 |
RHP Hotel Properties LP | ||
4.50%, due 2/15/29 (c) | 11,255,000 | 10,168,555 |
4.75%, due 10/15/27 | 28,050,000 | 26,155,503 |
SBA Communications Corp. | ||
3.125%, due 2/1/29 | 18,000,000 | 15,439,500 |
3.875%, due 2/15/27 | 1,800,000 | 1,708,560 |
VICI Properties LP (c) | ||
1.625%, due 6/15/25 | 21,650,000 | 21,541,750 |
3.75%, due 2/15/27 | 12,987,000 | 11,976,611 |
3.875%, due 2/15/29 | 44,460,000 | 42,237,000 |
4.125%, due 8/15/30 | 740,000 | 664,794 |
5.625%, due 5/1/24 | 63,960,000 | 64,679,550 |
5.75%, due 2/1/27 | 26,800,000 | 26,800,804 |
303,947,925 | ||
Retail 4.8% | ||
1011778 B.C. Unlimited Liability Co. (c) | ||
3.50%, due 2/15/29 | 11,305,000 | 9,982,711 |
3.875%, due 1/15/28 | 26,885,000 | 24,734,200 |
4.00%, due 10/15/30 | 55,052,000 | 47,061,202 |
Asbury Automotive Group, Inc. | ||
4.50%, due 3/1/28 | 23,137,000 | 21,575,252 |
4.625%, due 11/15/29 (c) | 13,005,000 | 11,706,191 |
4.75%, due 3/1/30 | 16,525,000 | 14,810,035 |
5.00%, due 2/15/32 (c) | 10,005,000 | 8,879,438 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Retail (continued) | ||
CEC Entertainment LLC | ||
6.75%, due 5/1/26 (c) | $ 12,950,000 | $ 12,173,000 |
Dave & Buster's, Inc. | ||
7.625%, due 11/1/25 (c) | 6,175,000 | 6,406,563 |
Group 1 Automotive, Inc. | ||
4.00%, due 8/15/28 (c) | 16,250,000 | 14,620,612 |
Ken Garff Automotive LLC | ||
4.875%, due 9/15/28 (c) | 24,000,000 | 21,840,960 |
KFC Holding Co. | ||
4.75%, due 6/1/27 (c) | 18,287,000 | 18,241,282 |
LCM Investments Holdings II LLC | ||
4.875%, due 5/1/29 (c) | 38,515,000 | 33,751,465 |
Lithia Motors, Inc. (c) | ||
3.875%, due 6/1/29 | 5,000,000 | 4,514,850 |
4.375%, due 1/15/31 | 5,000,000 | 4,587,500 |
Murphy Oil USA, Inc. | ||
4.75%, due 9/15/29 | 7,500,000 | 7,106,250 |
5.625%, due 5/1/27 | 10,417,000 | 10,273,766 |
NMG Holding Co., Inc. | ||
7.125%, due 4/1/26 (c) | 69,735,000 | 69,228,027 |
Patrick Industries, Inc. (c) | ||
4.75%, due 5/1/29 | 6,760,000 | 5,796,700 |
7.50%, due 10/15/27 | 21,040,000 | 21,250,400 |
Sonic Automotive, Inc. (c) | ||
4.625%, due 11/15/29 | 11,890,000 | 10,228,514 |
4.875%, due 11/15/31 | 10,000,000 | 8,536,300 |
Ultra Resources, Inc. Escrow Claim Shares | ||
6.875%, due 4/15/22 (a)(g)(i)(j) | 28,880,000 | — |
Yum! Brands, Inc. | ||
3.625%, due 3/15/31 | 40,870,000 | 35,117,997 |
4.625%, due 1/31/32 | 40,600,000 | 36,895,250 |
4.75%, due 1/15/30 (c) | 33,885,000 | 32,233,106 |
5.375%, due 4/1/32 | 30,000,000 | 28,669,200 |
520,220,771 | ||
Software 3.9% | ||
ACI Worldwide, Inc. | ||
5.75%, due 8/15/26 (c) | 7,500,000 | 7,575,000 |
Camelot Finance SA | ||
4.50%, due 11/1/26 (c) | 15,990,000 | 15,030,600 |
CDK Global, Inc. | ||
4.875%, due 6/1/27 | 8,570,000 | 8,612,850 |
Change Healthcare Holdings LLC | ||
5.75%, due 3/1/25 (c) | 13,500,000 | 13,466,250 |
Clarivate Science Holdings Corp. (c) | ||
3.875%, due 7/1/28 | 20,935,000 | 18,632,150 |
Principal Amount | Value | |
Software (continued) | ||
Clarivate Science Holdings Corp. (c) (continued) | ||
4.875%, due 7/1/29 | $ 42,750,000 | $ 37,674,720 |
Fair Isaac Corp. (c) | ||
4.00%, due 6/15/28 | 11,850,000 | 10,826,397 |
5.25%, due 5/15/26 | 12,250,000 | 12,311,250 |
Minerva Merger Sub, Inc. | ||
6.50%, due 2/15/30 (c) | 23,500,000 | 21,630,340 |
MSCI, Inc. (c) | ||
3.25%, due 8/15/33 | 23,000,000 | 19,435,000 |
3.625%, due 9/1/30 | 28,125,000 | 24,803,438 |
3.625%, due 11/1/31 | 27,375,000 | 24,021,563 |
3.875%, due 2/15/31 | 44,255,000 | 39,940,137 |
4.00%, due 11/15/29 | 34,330,000 | 31,619,646 |
Open Text Corp. (c) | ||
3.875%, due 2/15/28 | 17,385,000 | 15,833,971 |
3.875%, due 12/1/29 | 16,010,000 | 14,227,447 |
Open Text Holdings, Inc. (c) | ||
4.125%, due 2/15/30 | 30,047,000 | 26,666,712 |
4.125%, due 12/1/31 | 7,500,000 | 6,501,225 |
PTC, Inc. (c) | ||
3.625%, due 2/15/25 | 11,000,000 | 10,656,250 |
4.00%, due 2/15/28 | 35,619,000 | 33,012,045 |
SS&C Technologies, Inc. | ||
5.50%, due 9/30/27 (c) | 22,995,000 | 22,536,020 |
Veritas US, Inc. | ||
7.50%, due 9/1/25 (c) | 11,000,000 | 9,693,750 |
424,706,761 | ||
Telecommunications 4.0% | ||
Connect Finco SARL | ||
6.75%, due 10/1/26 (c) | 54,590,000 | 53,088,775 |
Hughes Satellite Systems Corp. | ||
5.25%, due 8/1/26 | 10,000,000 | 9,725,000 |
6.625%, due 8/1/26 | 19,275,000 | 19,178,625 |
Level 3 Financing, Inc. | ||
5.375%, due 5/1/25 | 31,477,000 | 31,203,150 |
Quebecor Media, Inc. | ||
5.75%, due 1/15/23 | 25,505,000 | 25,787,595 |
Sprint Capital Corp. | ||
6.875%, due 11/15/28 | 104,520,000 | 114,720,106 |
Sprint Corp. | ||
7.875%, due 9/15/23 | 46,900,000 | 49,245,000 |
Switch Ltd. | ||
3.75%, due 9/15/28 (c) | 18,195,000 | 17,057,813 |
T-Mobile US, Inc. | ||
2.625%, due 2/15/29 | 9,690,000 | 8,376,617 |
2.875%, due 2/15/31 | 34,390,000 | 29,191,952 |
22 | MainStay MacKay High Yield Corporate Bond Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Telecommunications (continued) | ||
T-Mobile US, Inc. (continued) | ||
4.75%, due 2/1/28 | $ 38,055,000 | $ 37,546,775 |
5.375%, due 4/15/27 | 33,000,000 | 33,660,000 |
Vmed O2 UK Financing I plc | ||
4.75%, due 7/15/31 (c) | 5,000,000 | 4,287,500 |
433,068,908 | ||
Toys, Games & Hobbies 0.3% | ||
Mattel, Inc. (c) | ||
3.375%, due 4/1/26 | 5,000,000 | 4,862,500 |
3.75%, due 4/1/29 | 10,000,000 | 9,525,000 |
5.875%, due 12/15/27 | 19,775,000 | 20,229,825 |
34,617,325 | ||
Transportation 0.5% | ||
Seaspan Corp. | ||
5.50%, due 8/1/29 (c) | 13,660,000 | 12,054,950 |
Watco Cos. LLC | ||
6.50%, due 6/15/27 (c) | 43,800,000 | 42,267,000 |
54,321,950 | ||
Total Corporate Bonds (Cost $9,929,851,092) | 9,457,771,159 | |
Loan Assignments 3.2% | ||
Automobile 0.3% | ||
Dealer Tire LLC | ||
Term Loan B1 | ||
5.014% (1 Month LIBOR + 4.25%), due 1/1/38 (d) | 14,441,255 | 14,393,122 |
Neenah Foundry Co. | ||
Term Loan | ||
9.00% (1 Month LIBOR + 8.00%), due 10/1/26 (a)(d)(i)(j) | 19,202,625 | 19,010,599 |
33,403,721 | ||
Beverage, Food & Tobacco 0.1% | ||
United Natural Foods, Inc. | ||
Initial Term Loan | ||
4.014% (1 Month LIBOR + 3.25%), due 10/22/25 (d) | 12,793,288 | 12,707,330 |
Principal Amount | Value | |
Electronics 0.1% | ||
Camelot U.S. Acquisition 1 Co. (d) | ||
Initial Term Loan | ||
3.764% (1 Month LIBOR + 3.00%), due 10/30/26 | $ 4,857,335 | $ 4,802,690 |
Amendment No. 2 Incremental Term Loan | ||
4.00% (1 Month LIBOR + 3.00%), due 10/30/26 | 4,937,500 | 4,893,062 |
9,695,752 | ||
Finance 0.2% | ||
Icon plc | ||
Lux Term Loan | ||
3.313% (3 Month LIBOR + 2.25%), due 7/3/28 (d) | 6,824,165 | 6,772,984 |
Truck Hero, Inc. | ||
Initial Term Loan | ||
4.014% (1 Month LIBOR + 3.25%), due 1/31/28 (d) | 8,833,083 | 8,220,288 |
14,993,272 | ||
Healthcare, Education & Childcare 0.3% | ||
LifePoint Health, Inc. | ||
First Lien Term Loan B | ||
4.499% (1 Month LIBOR + 3.75%), due 11/16/25 (d) | 20,153,924 | 19,894,442 |
Organon & Co. | ||
Dollar Term Loan | ||
3.563% (3 Month LIBOR + 3.00%), due 6/2/28 (d) | 10,605,833 | 10,542,856 |
30,437,298 | ||
Insurance 0.1% | ||
USI, Inc. | ||
2017 New Term Loan | ||
4.006% (3 Month LIBOR + 3.00%), due 5/16/24 (d) | 14,333,598 | 14,190,262 |
Leisure, Amusement, Motion Pictures & Entertainment 0.0% ‡ | ||
NASCAR Holdings LLC | ||
Initial Term Loan | ||
3.264% (1 Month LIBOR + 2.50%), due 10/19/26 (d) | 3,822,553 | 3,801,701 |
Manufacturing 0.1% | ||
Adient U.S. LLC | ||
Term Loan B1 | ||
4.014% (1 Month LIBOR + 3.25%), due 4/10/28 (d) | 10,071,000 | 10,003,857 |
Principal Amount | Value | |
Loan Assignments (continued) | ||
Media 0.2% | ||
DIRECTV Financing LLC | ||
Closing Date Term Loan | ||
5.764% (1 Month LIBOR + 5.00%), due 8/2/27 (d) | $ 22,442,500 | $ 22,334,955 |
Oil & Gas 0.4% | ||
Ascent Resources Utica Holdings LLC | ||
Second Lien Term Loan | ||
10.021% (3 Month LIBOR + 9.00%), due 11/1/25 (d) | 9,011,000 | 9,619,242 |
PetroQuest Energy LLC (a)(i) | ||
Term Loan | ||
TBD, due 1/1/28 | 2,700,000 | 2,700,000 |
Term Loan | ||
8.50% (8.50% PIK) (1 Month LIBOR + 7.50%), due 11/8/23 (b)(d)(j) | 20,096,838 | 16,077,471 |
2020 Term Loan | ||
8.50% (8.50% PIK), due 9/19/26 (b) | 2,061,709 | 2,061,709 |
TransMontaigne Operating Co. LP | ||
Tranche Term Loan B 4.00%-4.054% | ||
(1 Month LIBOR + 3.50%, 3 Month LIBOR + 3.50%), due 11/17/28 (d) | 12,568,500 | 12,500,416 |
42,958,838 | ||
Pharmaceuticals 0.1% | ||
Bausch Health Cos., Inc. | ||
First Incremental Term Loan | ||
3.207% (1 Month LIBOR + 2.75%), due 11/27/25 (d) | 12,057,669 | 11,982,309 |
Retail 0.7% | ||
Great Outdoors Group LLC | ||
Term Loan B2 | ||
4.514% (1 Month LIBOR + 3.75%), due 3/6/28 (d) | 79,003,000 | 78,114,216 |
Services: Business 0.1% | ||
GIP II Blue Holding LP | ||
Initial Term Loan | ||
5.506% (3 Month LIBOR + 4.50%), due 9/29/28 (d) | 11,940,000 | 11,889,255 |
Principal Amount | Value | |
Services: Business (continued) | ||
Icon plc | ||
U.S. Term Loan | ||
3.313% (3 Month LIBOR + 2.25%), due 7/3/28 (d) | $ 1,700,245 | $ 1,688,910 |
13,578,165 | ||
Utilities 0.5% | ||
PG&E Corp. | ||
Term Loan | ||
3.813% (1 Month LIBOR + 3.00%), due 6/23/25 (d) | 48,787,576 | 48,076,106 |
Total Loan Assignments (Cost $350,365,370) | 346,277,782 | |
Total Long-Term Bonds (Cost $10,389,466,985) | 9,938,124,303 | |
Shares | ||
Common Stocks 2.9% | ||
Distributors 0.1% | ||
ATD New Holdings, Inc. (m) | 142,545 | 11,724,326 |
Electric Utilities 0.0% ‡ | ||
Keycon Power Holdings LLC (a)(i)(j)(m) | 38,880 | 389 |
Electrical Equipment 0.2% | ||
Energy Technologies, Inc. (a)(i)(j)(m) | 16,724 | 18,814,500 |
Hotels, Restaurants & Leisure 0.5% | ||
Carlson Travel, Inc. (a)(h)(m) | 1,954,050 | 54,469,144 |
Carlson Travel, Inc. (h)(i)(j)(m) | 25,452 | — |
54,469,144 | ||
Independent Power and Renewable Electricity Producers 0.4% | ||
GenOn Energy, Inc. (h)(i) | 386,241 | 40,555,305 |
Metals & Mining 0.2% | ||
Franco-Nevada Corp. | 65,000 | 9,825,400 |
Neenah Enterprises, Inc. (a)(h)(i)(j)(m) | 720,961 | 12,883,573 |
22,708,973 | ||
Oil, Gas & Consumable Fuels 1.5% | ||
California Resources Corp. | 65,919 | 2,650,603 |
Gulfport Energy Corp. (m) | 1,202,229 | 112,985,481 |
24 | MainStay MacKay High Yield Corporate Bond Fund |
Shares | Value | |
Common Stocks (continued) | ||
Oil, Gas & Consumable Fuels (continued) | ||
PetroQuest Energy, Inc. (a)(i)(j)(m) | 28,470,874 | $ — |
Talos Energy, Inc. (m) | 2,074,193 | 37,688,087 |
Whiting Petroleum Corp. | 196,419 | 14,348,408 |
167,672,579 | ||
Software 0.0% ‡ | ||
ASG warrant Corp. (a)(i)(j)(m) | 12,502 | — |
Total Common Stocks (Cost $300,119,428) | 315,945,216 | |
Preferred Stocks 0.3% | ||
Electrical Equipment 0.3% | ||
Energy Technologies Ltd. (a)(i)(j)(m) | 37,258 | 30,924,140 |
Oil, Gas & Consumable Fuels 0.0% ‡ | ||
Gulfport Energy Operating Corp., 10.00%(10.00% Cash or 15.00% PIK) (a)(b)(h)(i)(j) | 150 | 932,175 |
Total Preferred Stocks (Cost $35,662,837) | 31,856,315 | |
Exchange-Traded Funds 0.5% | ||
iShares Gold Trust (m) | 929,500 | 33,499,180 |
SPDR Gold Shares (m) | 120,336 | 21,288,642 |
Total Exchange-Traded Funds (Cost $41,139,254) | 54,787,822 | |
Number of Warrants | ||
Warrants 0.0% ‡ | ||
Hotels, Restaurants & Leisure 0.0% ‡ | ||
CWT Travel Holdings (i)(j)(m) | ||
Expires 11/19/26 | 169,236 | 759,870 |
Expires 11/19/28 | 178,144 | 995,822 |
1,755,692 |
Number of Warrants | Value | |
Oil, Gas & Consumable Fuels 0.0% ‡ | ||
California Resources Corp. | ||
Expires 10/27/24 (m) | 36,093 | $ 432,214 |
Total Warrants (Cost $32,627,513) | 2,187,906 | |
Total Investments (Cost $10,799,016,017) | 94.7% | 10,342,901,562 |
Other Assets, Less Liabilities | 5.3 | 582,538,843 |
Net Assets | 100.0% | $ 10,925,440,405 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Illiquid security—As of April 30, 2022, the total market value deemed illiquid under procedures approved by the Board of Trustees was $213,235,124, which represented 2.0% of the Fund’s net assets. |
(b) | PIK ("Payment-in-Kind")—issuer may pay interest or dividends with additional securities and/or in cash. |
(c) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(d) | Floating rate—Rate shown was the rate in effect as of April 30, 2022. |
(e) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(f) | Step coupon—Rate shown was the rate in effect as of April 30, 2022. |
(g) | Issue in non-accrual status. |
(h) | Restricted security. (See Note 6) |
(i) | Fair valued security—Represents fair value as measured in good faith under procedures approved by the Board of Trustees. As of April 30, 2022, the total market value was $165,715,553, which represented 1.5% of the Fund’s net assets. |
(j) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(k) | Fixed to floating rate—Rate shown was the rate in effect as of April 30, 2022. |
(l) | Issue in default. |
(m) | Non-income producing security. |
Abbreviation(s): |
LIBOR—London Interbank Offered Rate |
SPDR—Standard & Poor’s Depositary Receipt |
TBD—To Be Determined |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Long-Term Bonds | ||||
Convertible Bonds | $ — | $ 134,075,362 | $ — | $ 134,075,362 |
Corporate Bonds | — | 9,437,771,159 | 20,000,000 | 9,457,771,159 |
Loan Assignments | — | 311,189,712 | 35,088,070 | 346,277,782 |
Total Long-Term Bonds | — | 9,883,036,233 | 55,088,070 | 9,938,124,303 |
Common Stocks | 177,497,979 | 106,748,775 | 31,698,462 | 315,945,216 |
Preferred Stocks | — | — | 31,856,315 | 31,856,315 |
Exchange-Traded Funds | 54,787,822 | — | — | 54,787,822 |
Warrants | 432,214 | — | 1,755,692 | 2,187,906 |
Total Investments in Securities | $ 232,718,015 | $ 9,989,785,008 | $ 120,398,539 | $ 10,342,901,562 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Investments in Securities | Balance as of October 31, 2021 | Accrued Discounts (Premiums) | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Purchases | Sales | Transfers in to Level 3 | Transfers out of Level 3 | Balance as of April 30, 2022 | Change in Unrealized Appreciation (Depreciation) from Investments Still Held as of April 30, 2022 |
Long-Term Bonds | ||||||||||
Corporate Bonds | $33,482,860 | $127,894 | $2,343,650 | $(7,708,641) | $— | $(13,970,988) | $5,725,225 | $— | $20,000,000 | $(5,747,154) |
Loan Assignments | 15,403,582 | 21,947 | 4,564 | (190,056) | 842,358 | (492,375) | 19,498,050 | — | 35,088,070 | (190,056) |
Common Stocks | 38,106,199 | — | (2,712,223) | (3,695,514) | — | — | — | — | 31,698,462 | (6,407,737) |
Preferred Stocks | 28,621,936 | — | — | 3,229,379 | 5,000 | — | — | — | 31,856,315 | 3,229,379 |
Warrants | — | — | — | (30,857,384) | 32,613,076 | — | — | — | 1,755,692 | (30,857,384) |
Total | $115,614,577 | $149,841 | $(364,009) | $(39,222,216) | $33,460,434 | $(14,463,363) | $25,223,275 | $— | $120,398,539 | $(39,972,952) |
26 | MainStay MacKay High Yield Corporate Bond Fund |
Assets | |
Investment in securities, at value (identified cost $10,799,016,017) | $10,342,901,562 |
Cash | 467,352,902 |
Receivables: | |
Interest | 155,571,035 |
Fund shares sold | 16,673,203 |
Investment securities sold | 5,571,550 |
Other assets | 242,521 |
Total assets | 10,988,312,773 |
Liabilities | |
Payables: | |
Fund shares redeemed | 33,392,148 |
Investment securities purchased | 17,410,000 |
Manager (See Note 3) | 4,942,577 |
Transfer agent (See Note 3) | 1,879,958 |
Shareholder communication | 1,019,119 |
NYLIFE Distributors (See Note 3) | 901,439 |
Professional fees | 58,329 |
Custodian | 53,437 |
Trustees | 22,714 |
Accrued expenses | 63,176 |
Distributions payable | 3,129,471 |
Total liabilities | 62,872,368 |
Net assets | $10,925,440,405 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $21,030,440 |
Additional paid-in-capital | 11,648,814,104 |
11,669,844,544 | |
Total distributable earnings (loss) | (744,404,139) |
Net assets | $10,925,440,405 |
Class A | |
Net assets applicable to outstanding shares | $3,393,610,688 |
Shares of beneficial interest outstanding | 652,778,979 |
Net asset value per share outstanding | $5.20 |
Maximum sales charge (4.50% of offering price) | 0.25 |
Maximum offering price per share outstanding | $5.45 |
Investor Class | |
Net assets applicable to outstanding shares | $126,180,183 |
Shares of beneficial interest outstanding | 24,105,152 |
Net asset value per share outstanding | $5.23 |
Maximum sales charge (4.00% of offering price) | 0.22 |
Maximum offering price per share outstanding | $5.45 |
Class B | |
Net assets applicable to outstanding shares | $19,904,530 |
Shares of beneficial interest outstanding | 3,849,100 |
Net asset value and offering price per share outstanding | $5.17 |
Class C | |
Net assets applicable to outstanding shares | $165,961,916 |
Shares of beneficial interest outstanding | 32,071,609 |
Net asset value and offering price per share outstanding | $5.17 |
Class I | |
Net assets applicable to outstanding shares | $3,674,783,449 |
Shares of beneficial interest outstanding | 706,669,517 |
Net asset value and offering price per share outstanding | $5.20 |
Class R1 | |
Net assets applicable to outstanding shares | $50,888 |
Shares of beneficial interest outstanding | 9,805 |
Net asset value and offering price per share outstanding | $5.19 |
Class R2 | |
Net assets applicable to outstanding shares | $7,963,649 |
Shares of beneficial interest outstanding | 1,531,540 |
Net asset value and offering price per share outstanding | $5.20 |
Class R3 | |
Net assets applicable to outstanding shares | $3,569,024 |
Shares of beneficial interest outstanding | 687,331 |
Net asset value and offering price per share outstanding | $5.19 |
Class R6 | |
Net assets applicable to outstanding shares | $3,533,382,335 |
Shares of beneficial interest outstanding | 681,334,546 |
Net asset value and offering price per share outstanding | $5.19 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $33,743 |
Shares of beneficial interest outstanding | 6,445 |
Net asset value and offering price per share outstanding | $5.24 |
Investment Income (Loss) | |
Income | |
Interest | $302,718,426 |
Dividends (net of foreign tax withholding of $6,045) | 199,107 |
Other | 337,074 |
Total income | 303,254,607 |
Expenses | |
Manager (See Note 3) | 31,280,629 |
Distribution/Service—Class A (See Note 3) | 4,609,449 |
Distribution/Service—Investor Class (See Note 3) | 166,477 |
Distribution/Service—Class B (See Note 3) | 116,743 |
Distribution/Service—Class C (See Note 3) | 967,111 |
Distribution/Service—Class R2 (See Note 3) | 11,576 |
Distribution/Service—Class R3 (See Note 3) | 9,082 |
Distribution/Service—SIMPLE Class (See Note 3) | 80 |
Transfer agent (See Note 3) | 5,345,876 |
Shareholder communication | 962,815 |
Professional fees | 340,732 |
Registration | 173,373 |
Trustees | 123,747 |
Custodian | 77,976 |
Shareholder service (See Note 3) | 6,474 |
Miscellaneous | 188,692 |
Total expenses | 44,380,832 |
Net investment income (loss) | 258,873,775 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on investments | 33,665,510 |
Net change in unrealized appreciation (depreciation) on investments | (910,649,185) |
Net realized and unrealized gain (loss) | (876,983,675) |
Net increase (decrease) in net assets resulting from operations | $(618,109,900) |
28 | MainStay MacKay High Yield Corporate Bond Fund |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $258,873,775 | $561,954,069 |
Net realized gain (loss) | 33,665,510 | 219,481,230 |
Net change in unrealized appreciation (depreciation) | (910,649,185) | 336,122,360 |
Net increase (decrease) in net assets resulting from operations | (618,109,900) | 1,117,557,659 |
Distributions to shareholders: | ||
Class A | (89,937,798) | (176,416,889) |
Investor Class | (3,184,767) | (6,494,080) |
Class B | (466,377) | (1,264,772) |
Class C | (3,861,165) | (9,396,090) |
Class I | (101,167,350) | (186,334,257) |
Class R1 | (1,397) | (2,744) |
Class R2 | (219,618) | (475,941) |
Class R3 | (82,620) | (129,139) |
Class R6 | (96,827,650) | (190,139,469) |
SIMPLE Class | (724) | (1,106) |
(295,749,466) | (570,654,487) | |
Distributions to shareholders from return of capital: | ||
Class A | — | (19,429,957) |
Investor Class | — | (715,236) |
Class B | — | (139,298) |
Class C | — | (1,034,853) |
Class I | — | (20,522,222) |
Class R1 | — | (302) |
Class R2 | — | (52,419) |
Class R3 | — | (14,223) |
Class R6 | — | (20,941,315) |
SIMPLE Class | — | (122) |
— | (62,849,947) | |
Total distributions to shareholders | (295,749,466) | (633,504,434) |
Capital share transactions: | ||
Net proceeds from sales of shares | 1,434,127,572 | 3,657,661,509 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 276,200,008 | 591,279,027 |
Cost of shares redeemed | (1,981,714,244) | (4,586,290,263) |
Increase (decrease) in net assets derived from capital share transactions | (271,386,664) | (337,349,727) |
Net increase (decrease) in net assets | (1,185,246,030) | 146,703,498 |
2022 | 2021 | |
Net Assets | ||
Beginning of period | $12,110,686,435 | $11,963,982,937 |
End of period | $10,925,440,405 | $12,110,686,435 |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $5.63 | $5.41 | $5.61 | $5.52 | $5.77 | $5.74 |
Net investment income (loss) (a) | 0.12 | 0.25 | 0.29 | 0.29 | 0.29 | 0.30 |
Net realized and unrealized gain (loss) | (0.42) | 0.25 | (0.17) | 0.12 | (0.22) | 0.09 |
Total from investment operations | (0.30) | 0.50 | 0.12 | 0.41 | 0.07 | 0.39 |
Less distributions: | ||||||
From net investment income | (0.13) | (0.25) | (0.29) | (0.29) | (0.29) | (0.31) |
Return of capital | — | (0.03) | (0.03) | (0.03) | (0.03) | (0.05) |
Total distributions | (0.13) | (0.28) | (0.32) | (0.32) | (0.32) | (0.36) |
Net asset value at end of period | $5.20 | $5.63 | $5.41 | $5.61 | $5.52 | $5.77 |
Total investment return (b) | (5.35)% | 9.37% | 2.26% | 7.58% | 1.29% | 6.91% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 4.26%†† | 4.38% | 5.35% | 5.21% | 5.15% | 5.25% |
Net expenses (c) | 0.94%†† | 0.95% | 0.97% | 0.99% | 0.99% | 0.97% |
Portfolio turnover rate | 8% | 40% | 38% | 30% | 30% | 43% |
Net assets at end of period (in 000’s) | $3,393,611 | $3,901,512 | $3,525,782 | $3,405,587 | $3,290,659 | $3,683,113 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $5.67 | $5.45 | $5.65 | $5.57 | $5.82 | $5.79 |
Net investment income (loss) (a) | 0.11 | 0.24 | 0.29 | 0.29 | 0.29 | 0.30 |
Net realized and unrealized gain (loss) | (0.42) | 0.26 | (0.17) | 0.11 | (0.22) | 0.09 |
Total from investment operations | (0.31) | 0.50 | 0.12 | 0.40 | 0.07 | 0.39 |
Less distributions: | ||||||
From net investment income | (0.13) | (0.25) | (0.29) | (0.29) | (0.29) | (0.31) |
Return of capital | — | (0.03) | (0.03) | (0.03) | (0.03) | (0.05) |
Total distributions | (0.13) | (0.28) | (0.32) | (0.32) | (0.32) | (0.36) |
Net asset value at end of period | $5.23 | $5.67 | $5.45 | $5.65 | $5.57 | $5.82 |
Total investment return (b) | (5.52)% | 9.25% | 2.24% | 7.33% | 1.29% | 6.90% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 4.11%†† | 4.26% | 5.27% | 5.15% | 5.12% | 5.21% |
Net expenses (c) | 1.09%†† | 1.08% | 1.06% | 1.05% | 1.03% | 1.02% |
Portfolio turnover rate | 8% | 40% | 38% | 30% | 30% | 43% |
Net assets at end of period (in 000's) | $126,180 | $139,214 | $149,726 | $162,260 | $159,970 | $167,139 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
30 | MainStay MacKay High Yield Corporate Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $5.60 | $5.38 | $5.58 | $5.50 | $5.74 | $5.71 |
Net investment income (loss) (a) | 0.09 | 0.20 | 0.25 | 0.24 | 0.25 | 0.26 |
Net realized and unrealized gain (loss) | (0.41) | 0.25 | (0.18) | 0.11 | (0.21) | 0.08 |
Total from investment operations | (0.32) | 0.45 | 0.07 | 0.35 | 0.04 | 0.34 |
Less distributions: | ||||||
From net investment income | (0.11) | (0.21) | (0.24) | (0.25) | (0.26) | (0.27) |
Return of capital | — | (0.02) | (0.03) | (0.02) | (0.02) | (0.04) |
Total distributions | (0.11) | (0.23) | (0.27) | (0.27) | (0.28) | (0.31) |
Net asset value at end of period | $5.17 | $5.60 | $5.38 | $5.58 | $5.50 | $5.74 |
Total investment return (b) | (5.80)% | 8.52% | 1.39% | 6.52% | 0.64% | 6.06% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 3.36%†† | 3.56% | 4.55% | 4.41% | 4.37% | 4.47% |
Net expenses (c) | 1.84%†† | 1.83% | 1.81% | 1.80% | 1.78% | 1.77% |
Portfolio turnover rate | 8% | 40% | 38% | 30% | 30% | 43% |
Net assets at end of period (in 000’s) | $19,905 | $26,622 | $45,661 | $63,517 | $81,221 | $108,263 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $5.60 | $5.39 | $5.59 | $5.50 | $5.74 | $5.72 |
Net investment income (loss) (a) | 0.09 | 0.20 | 0.25 | 0.24 | 0.25 | 0.26 |
Net realized and unrealized gain (loss) | (0.41) | 0.24 | (0.18) | 0.12 | (0.21) | 0.07 |
Total from investment operations | (0.32) | 0.44 | 0.07 | 0.36 | 0.04 | 0.33 |
Less distributions: | ||||||
From net investment income | (0.11) | (0.21) | (0.24) | (0.25) | (0.26) | (0.27) |
Return of capital | — | (0.02) | (0.03) | (0.02) | (0.02) | (0.04) |
Total distributions | (0.11) | (0.23) | (0.27) | (0.27) | (0.28) | (0.31) |
Net asset value at end of period | $5.17 | $5.60 | $5.39 | $5.59 | $5.50 | $5.74 |
Total investment return (b) | (5.80)% | 8.31% | 1.39% | 6.71% | 0.64% | 5.87% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 3.36%†† | 3.54% | 4.54% | 4.41% | 4.36% | 4.45% |
Net expenses (c) | 1.84%†† | 1.83% | 1.81% | 1.80% | 1.78% | 1.77% |
Portfolio turnover rate | 8% | 40% | 38% | 30% | 30% | 43.0% |
Net assets at end of period (in 000’s) | $165,962 | $214,696 | $297,431 | $373,760 | $550,819 | $676,463 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $5.63 | $5.41 | $5.61 | $5.53 | $5.78 | $5.75 |
Net investment income (loss) (a) | 0.12 | 0.26 | 0.30 | 0.30 | 0.31 | 0.32 |
Net realized and unrealized gain (loss) | (0.41) | 0.26 | (0.17) | 0.11 | (0.22) | 0.08 |
Total from investment operations | (0.29) | 0.52 | 0.13 | 0.41 | 0.09 | 0.40 |
Less distributions: | ||||||
From net investment income | (0.14) | (0.27) | (0.30) | (0.30) | (0.31) | (0.32) |
Return of capital | — | (0.03) | (0.03) | (0.03) | (0.03) | (0.05) |
Total distributions | (0.14) | (0.30) | (0.33) | (0.33) | (0.34) | (0.37) |
Net asset value at end of period | $5.20 | $5.63 | $5.41 | $5.61 | $5.53 | $5.78 |
Total investment return (b) | (5.23)% | 9.65% | 2.56% | 7.68% | 1.57% | 7.17% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 4.50%†† | 4.62% | 5.60% | 5.45% | 5.40% | 5.51% |
Net expenses (c) | 0.69%†† | 0.70% | 0.72% | 0.74% | 0.74% | 0.72% |
Portfolio turnover rate | 8% | 40% | 38% | 30% | 30% | 43% |
Net assets at end of period (in 000’s) | $3,674,783 | $4,116,697 | $3,509,954 | $3,451,487 | $3,709,306 | $4,067,560 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R1 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $5.62 | $5.40 | $5.60 | $5.52 | $5.77 | $5.74 |
Net investment income (loss) (a) | 0.12 | 0.25 | 0.30 | 0.30 | 0.30 | 0.32 |
Net realized and unrealized gain (loss) | (0.41) | 0.26 | (0.17) | 0.11 | (0.22) | 0.07 |
Total from investment operations | (0.29) | 0.51 | 0.13 | 0.41 | 0.08 | 0.39 |
Less distributions: | ||||||
From net investment income | (0.14) | (0.26) | (0.30) | (0.30) | (0.30) | (0.31) |
Return of capital | — | (0.03) | (0.03) | (0.03) | (0.03) | (0.05) |
Total distributions | (0.14) | (0.29) | (0.33) | (0.33) | (0.33) | (0.36) |
Net asset value at end of period | $5.19 | $5.62 | $5.40 | $5.60 | $5.52 | $5.77 |
Total investment return (b) | (5.29)% | 9.55% | 2.45% | 7.58% | 1.46% | 7.07% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 4.40%†† | 4.51% | 5.52% | 5.36% | 5.25% | 5.48% |
Net expenses (c) | 0.79%†† | 0.80% | 0.82% | 0.84% | 0.84% | 0.82% |
Portfolio turnover rate | 8% | 40% | 38% | 30% | 30% | 43% |
Net assets at end of period (in 000’s) | $51 | $62 | $51 | $53 | $72 | $37 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R1 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
32 | MainStay MacKay High Yield Corporate Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R2 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $5.63 | $5.41 | $5.61 | $5.52 | $5.77 | $5.74 |
Net investment income (loss) (a) | 0.11 | 0.24 | 0.29 | 0.28 | 0.29 | 0.30 |
Net realized and unrealized gain (loss) | (0.41) | 0.26 | (0.18) | 0.12 | (0.22) | 0.08 |
Total from investment operations | (0.30) | 0.50 | 0.11 | 0.40 | 0.07 | 0.38 |
Less distributions: | ||||||
From net investment income | (0.13) | (0.25) | (0.28) | (0.29) | (0.29) | (0.30) |
Return of capital | — | (0.03) | (0.03) | (0.02) | (0.03) | (0.05) |
Total distributions | (0.13) | (0.28) | (0.31) | (0.31) | (0.32) | (0.35) |
Net asset value at end of period | $5.20 | $5.63 | $5.41 | $5.61 | $5.52 | $5.77 |
Total investment return (b) | (5.39)% | 9.28% | 2.17% | 7.49% | 1.20% | 6.80% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 4.15%†† | 4.28% | 5.26% | 5.10% | 5.06% | 5.16% |
Net expenses (c) | 1.04%†† | 1.05% | 1.07% | 1.09% | 1.09% | 1.07% |
Portfolio turnover rate | 8% | 40% | 38% | 30% | 30% | 43% |
Net assets at end of period (in 000’s) | $7,964 | $10,640 | $13,006 | $13,866 | $11,116 | $9,562 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R2 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R3 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $5.62 | $5.40 | $5.60 | $5.52 | $5.77 | $5.74 |
Net investment income (loss) (a) | 0.11 | 0.22 | 0.27 | 0.27 | 0.27 | 0.28 |
Net realized and unrealized gain (loss) | (0.42) | 0.26 | (0.17) | 0.11 | (0.22) | 0.09 |
Total from investment operations | (0.31) | 0.48 | 0.10 | 0.38 | 0.05 | 0.37 |
Less distributions: | ||||||
From net investment income | (0.12) | (0.23) | (0.27) | (0.28) | (0.28) | (0.29) |
Return of capital | — | (0.03) | (0.03) | (0.02) | (0.02) | (0.05) |
Total distributions | (0.12) | (0.26) | (0.30) | (0.30) | (0.30) | (0.34) |
Net asset value at end of period | $5.19 | $5.62 | $5.40 | $5.60 | $5.52 | $5.77 |
Total investment return (b) | (5.53)% | 9.01% | 1.90% | 7.03% | 0.96% | 6.58% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 3.91%†† | 3.98% | 4.96% | 4.84% | 4.77% | 4.81% |
Net expenses (c) | 1.29%†† | 1.30% | 1.32% | 1.34% | 1.34% | 1.32% |
Portfolio turnover rate | 8% | 40% | 38% | 30% | 30% | 43% |
Net assets at end of period (in 000’s) | $3,569 | $3,630 | $1,924 | $1,281 | $606 | $392 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R6 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $5.61 | $5.40 | $5.60 | $5.52 | $5.77 | $5.74 |
Net investment income (loss) (a) | 0.13 | 0.27 | 0.31 | 0.31 | 0.31 | 0.32 |
Net realized and unrealized gain (loss) | (0.41) | 0.24 | (0.17) | 0.11 | (0.21) | 0.09 |
Total from investment operations | (0.28) | 0.51 | 0.14 | 0.42 | 0.10 | 0.41 |
Less distributions: | ||||||
From net investment income | (0.14) | (0.27) | (0.31) | (0.31) | (0.32) | 0.33 |
Return of capital | — | (0.03) | (0.03) | (0.03) | (0.03) | (0.05) |
Total distributions | (0.14) | (0.30) | (0.34) | (0.34) | (0.35) | (0.38) |
Net asset value at end of period | $5.19 | $5.61 | $5.40 | $5.60 | $5.52 | $5.77 |
Total investment return (b) | (5.00)% | 9.64% | 2.70% | 7.84% | 1.71% | 7.36% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 4.63%†† | 4.79% | 5.65% | 5.60% | 5.54% | 5.45% |
Net expenses (c) | 0.57%†† | 0.57% | 0.58% | 0.58% | 0.58% | 0.58% |
Portfolio turnover rate | 8% | 40% | 38% | 30% | 30% | 43% |
Net assets at end of period (in 000’s) | $3,533,382 | $3,697,586 | $4,420,424 | $2,180,977 | $904,028 | $1,668,163 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | August 31, 2020^ through October 31, | |
SIMPLE Class | 2021 | 2020 | |
Net asset value at beginning of period | $5.67 | $5.45 | $5.54 |
Net investment income (loss) (a) | 0.11 | 0.23 | 0.04 |
Net realized and unrealized gain (loss) | (0.42) | 0.25 | (0.08) |
Total from investment operations | (0.31) | 0.48 | (0.04) |
Less distributions: | |||
From net investment income | (0.12) | (0.23) | (0.05) |
Return of capital | — | (0.03) | (0.00)‡ |
Total distributions | (0.12) | (0.26) | (0.05) |
Net asset value at end of period | $5.24 | $5.67 | $5.45 |
Total investment return (b) | (5.46)% | 8.98% | (0.72)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 3.88%†† | 4.00% | 4.74%†† |
Net expenses (c) | 1.34%†† | 1.33% | 1.30%†† |
Portfolio turnover rate | 8% | 40% | 38% |
Net assets at end of period (in 000’s) | $34 | $27 | $25 |
* | Unaudited. |
^ | Inception date. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. SIMPLE Class shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
34 | MainStay MacKay High Yield Corporate Bond Fund |
Class | Commenced Operations |
Class A | January 3, 1995 |
Investor Class | February 28, 2008 |
Class B | May 1, 1986 |
Class C | September 1, 1998 |
Class I | January 2, 2004 |
Class R1 | June 29, 2012 |
Class R2 | May 1, 2008 |
Class R3 | February 29, 2016 |
Class R6 | June 17, 2013 |
SIMPLE Class | August 31, 2020 |
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
36 | MainStay MacKay High Yield Corporate Bond Fund |
Asset Class | Fair Value at 4/30/22* | Valuation Technique | Unobserva- ble Inputs | Inputs/ Range |
Loan Assignments | $19,010,599 | Market Approach | Lender Fee | 1.00% |
16,077,471 | Market Approach | Implied natural gas price | $2.70 | |
Discount Rate | 10.00% | |||
Common Stocks | 389 | Market Approach | Ownership % of equity interest | 16.56%-39.70% |
18,814,500 | Market Approach | EBITDA Multiple | 6.50x-7.50x | |
12,883,573 | Market Approach | EBITDA Multiple | 6.00x | |
0 | Market Approach | Implied natural gas price | $2.70 | |
Discount Rate | 10.00% | |||
Preferred Stock | 30,924,140 | Income Approach | Spread Adjustment | 5.21% |
932,175 | Market Approach | Liquidity discount | 10.00% | |
Warrants | 1,755,692 | Market Approach | Implied Volatility | 40.00% |
$100,398,539 | ||||
* The table above does not include Level 3 investments that were valued by a broker. As of April 30, 2022, the value of these investments were $20,000,000. The inputs for these investments were not readily available or cannot be reasonably estimated. |
38 | MainStay MacKay High Yield Corporate Bond Fund |
40 | MainStay MacKay High Yield Corporate Bond Fund |
Class R1 | $28 |
Class R2 | 4,630 |
Class R3 | 1,816 |
Class | Expense | Waived |
Class A | $2,309,056 | $— |
Investor Class | 178,643 | — |
Class B | 31,394 | — |
Class C | 259,991 | — |
Class I | 2,485,767 | — |
Class R1 | 35 | — |
Class R2 | 5,796 | — |
Class R3 | 2,276 | — |
Class R6 | 72,875 | — |
SIMPLE Class | 43 | — |
Class I | $11,311,172 | 0.3% |
Class R1 | 40,183 | 79.0 |
SIMPLE Class | 25,476 | 75.5 |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $10,771,455,713 | $284,060,508 | $(712,614,659) | $(428,554,151) |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $— | $295,865 |
2021 | |
Distributions paid from: | |
Ordinary Income | $570,654,487 |
Return of Capital | 62,849,947 |
Total | $633,504,434 |
Borrower | Unfunded Commitments | Unrealized Appreciation/ (Depreciation) |
Neenah Foundry, 2020 PIK Loan TBD, due 4/1/23 | $1,285,000 | $0 |
Security | Date(s) of Acquisition | Principal Amount/ Shares | Cost | 4/30/22 Value | Percent of Net Assets |
Briggs & Stratton Corp. Escrow Claim Shares | |||||
Corporate Bond 6.875%, due 12/15/20 | 2/26/21 | $ 9,200,000 | $ 9,323,706 | $ 92,000 | 0.0%‡ |
Carlson Travel, Inc. | |||||
Common Stock | 9/4/20 - 12/23/21 | 1,979,502 | 48,453,024 | 54,469,144 | 0.5 |
GenOn Energy, Inc. | |||||
Common Stock | 12/14/18 | 386,241 | 43,250,890 | 40,555,305 | 0.4 |
Gulfport Energy Operating Corp. | |||||
Preferred Stock | 8/4/21 - 12/16/21 | 150 | 148,000 | 932,175 | 0.0‡ |
Neenah Enterprises, Inc. | |||||
Common Stock | 4/12/20 | 720,961 | 6,114,571 | 12,883,573 | 0.1 |
Sterling Entertainment Enterprises LLC | |||||
Corporate Bond 10.25%, due 1/15/25 | 12/28/17 | $20,000,000 | 19,858,604 | 20,000,000 | 0.2 |
Total | $127,148,795 | $ 128,932,197 | 1.2% |
‡ | Less than one-tenth of a percent. |
42 | MainStay MacKay High Yield Corporate Bond Fund |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 48,827,753 | $267,203,280 |
Shares issued to shareholders in reinvestment of distributions | 14,407,135 | 78,351,469 |
Shares redeemed | (106,109,642) | (578,850,976) |
Net increase (decrease) in shares outstanding before conversion | (42,874,754) | (233,296,227) |
Shares converted into Class A (See Note 1) | 2,375,909 | 13,029,364 |
Shares converted from Class A (See Note 1) | (109,251) | (596,907) |
Net increase (decrease) | (40,608,096) | $(220,863,770) |
Year ended October 31, 2021: | ||
Shares sold | 182,959,300 | $1,025,339,543 |
Shares issued to shareholders in reinvestment of distributions | 30,312,090 | 170,864,213 |
Shares redeemed | (184,263,914) | (1,037,267,473) |
Net increase (decrease) in shares outstanding before conversion | 29,007,476 | 158,936,283 |
Shares converted into Class A (See Note 1) | 13,304,124 | 74,965,256 |
Shares converted from Class A (See Note 1) | (738,769) | (4,105,394) |
Net increase (decrease) | 41,572,831 | $229,796,145 |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 859,388 | $4,713,196 |
Shares issued to shareholders in reinvestment of distributions | 557,246 | 3,049,438 |
Shares redeemed | (1,378,244) | (7,586,312) |
Net increase (decrease) in shares outstanding before conversion | 38,390 | 176,322 |
Shares converted into Investor Class (See Note 1) | 298,582 | 1,645,123 |
Shares converted from Investor Class (See Note 1) | (799,996) | (4,430,658) |
Net increase (decrease) | (463,024) | $(2,609,213) |
Year ended October 31, 2021: | ||
Shares sold | 2,019,528 | $11,484,430 |
Shares issued to shareholders in reinvestment of distributions | 1,208,390 | 6,860,244 |
Shares redeemed | (2,683,946) | (15,254,757) |
Net increase (decrease) in shares outstanding before conversion | 543,972 | 3,089,917 |
Shares converted into Investor Class (See Note 1) | 1,170,092 | 6,648,892 |
Shares converted from Investor Class (See Note 1) | (4,618,620) | (26,265,419) |
Net increase (decrease) | (2,904,556) | $(16,526,610) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 40,324 | $219,271 |
Shares issued to shareholders in reinvestment of distributions | 75,370 | 408,255 |
Shares redeemed | (549,754) | (3,006,741) |
Net increase (decrease) in shares outstanding before conversion | (434,060) | (2,379,215) |
Shares converted from Class B (See Note 1) | (472,829) | (2,571,194) |
Net increase (decrease) | (906,889) | $(4,950,409) |
Year ended October 31, 2021: | ||
Shares sold | 88,863 | $498,977 |
Shares issued to shareholders in reinvestment of distributions | 223,935 | 1,254,633 |
Shares redeemed | (2,893,905) | (16,203,403) |
Net increase (decrease) in shares outstanding before conversion | (2,581,107) | (14,449,793) |
Shares converted from Class B (See Note 1) | (1,142,315) | (6,416,728) |
Net increase (decrease) | (3,723,422) | $(20,866,521) |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 947,146 | $5,152,776 |
Shares issued to shareholders in reinvestment of distributions | 673,694 | 3,650,744 |
Shares redeemed | (7,029,426) | (38,144,077) |
Net increase (decrease) in shares outstanding before conversion | (5,408,586) | (29,340,557) |
Shares converted from Class C (See Note 1) | (851,628) | (4,637,565) |
Net increase (decrease) | (6,260,214) | $(33,978,122) |
Year ended October 31, 2021: | ||
Shares sold | 5,342,346 | $29,948,303 |
Shares issued to shareholders in reinvestment of distributions | 1,751,952 | 9,827,127 |
Shares redeemed | (17,257,202) | (96,733,225) |
Net increase (decrease) in shares outstanding before conversion | (10,162,904) | (56,957,795) |
Shares converted from Class C (See Note 1) | (6,710,654) | (37,512,191) |
Net increase (decrease) | (16,873,558) | $(94,469,986) |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 122,299,626 | $674,965,137 |
Shares issued to shareholders in reinvestment of distributions | 17,378,003 | 94,531,393 |
Shares redeemed | (164,590,623) | (902,530,253) |
Net increase (decrease) in shares outstanding before conversion | (24,912,994) | (133,033,723) |
Shares converted into Class I (See Note 1) | 106,349 | 581,371 |
Net increase (decrease) | (24,806,645) | $(132,452,352) |
Year ended October 31, 2021: | ||
Shares sold | 252,182,456 | $1,423,359,102 |
Shares issued to shareholders in reinvestment of distributions | 34,136,456 | 192,459,085 |
Shares redeemed | (200,939,792) | (1,134,669,152) |
Net increase (decrease) in shares outstanding before conversion | 85,379,120 | 481,149,035 |
Shares converted into Class I (See Note 1) | 745,634 | 4,142,155 |
Shares converted from Class I (See Note 1) | (3,354,187) | (18,908,988) |
Net increase (decrease) | 82,770,567 | $466,382,202 |
Class R1 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 371 | $2,039 |
Shares issued to shareholders in reinvestment of distributions | 257 | 1,397 |
Shares redeemed | (1,858) | (10,241) |
Net increase (decrease) | (1,230) | $(6,805) |
Year ended October 31, 2021: | ||
Shares sold | 1,473 | $8,263 |
Shares issued to shareholders in reinvestment of distributions | 541 | 3,046 |
Shares redeemed | (366) | (2,073) |
Net increase (decrease) | 1,648 | $9,236 |
44 | MainStay MacKay High Yield Corporate Bond Fund |
Class R2 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 186,616 | $1,021,381 |
Shares issued to shareholders in reinvestment of distributions | 30,927 | 168,531 |
Shares redeemed | (576,484) | (3,193,139) |
Net increase (decrease) | (358,941) | $(2,003,227) |
Year ended October 31, 2021: | ||
Shares sold | 452,963 | $2,558,748 |
Shares issued to shareholders in reinvestment of distributions | 76,461 | 431,139 |
Shares redeemed | (1,040,259) | (5,766,291) |
Net increase (decrease) in shares outstanding before conversion | (510,835) | (2,776,404) |
Shares converted from Class R2 (See Note 1) | (2,744) | (15,506) |
Net increase (decrease) | (513,579) | $(2,791,910) |
Class R3 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 69,523 | $381,966 |
Shares issued to shareholders in reinvestment of distributions | 14,541 | 78,894 |
Shares redeemed | (42,700) | (232,975) |
Net increase (decrease) | 41,364 | $227,885 |
Year ended October 31, 2021: | ||
Shares sold | 365,846 | $2,061,921 |
Shares issued to shareholders in reinvestment of distributions | 24,106 | 135,884 |
Shares redeemed | (99,976) | (563,591) |
Net increase (decrease) | 289,976 | $1,634,214 |
Class R6 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 87,742,063 | $480,459,798 |
Shares issued to shareholders in reinvestment of distributions | 17,706,663 | 95,959,163 |
Shares redeemed | (82,167,120) | (448,159,530) |
Net increase (decrease) in shares outstanding before conversion | 23,281,606 | 128,259,431 |
Shares converted from Class R6 (See Note 1) | (552,195) | (3,019,534) |
Net increase (decrease) | 22,729,411 | $125,239,897 |
Year ended October 31, 2021: | ||
Shares sold | 206,190,406 | $1,162,402,222 |
Shares issued to shareholders in reinvestment of distributions | 37,259,768 | 209,442,428 |
Shares redeemed | (405,022,996) | (2,279,825,918) |
Net increase (decrease) in shares outstanding before conversion | (161,572,822) | (907,981,268) |
Shares converted into Class R6 (See Note 1) | 3,360,148 | 18,908,988 |
Shares converted from Class R6 (See Note 1) | (2,026,448) | (11,445,445) |
Net increase (decrease) | (160,239,122) | $(900,517,725) |
SIMPLE Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 1,543 | $8,728 |
Shares issued to shareholders in reinvestment of distributions | 132 | 724 |
Net increase (decrease) | 1,675 | $9,452 |
Year ended October 31, 2021:(a) | ||
Shares issued to shareholders in reinvestment of distributions | 216 | $1,228 |
Shares redeemed | (774) | (4,380) |
Net increase (decrease) in shares outstanding before conversion | (558) | (3,152) |
Shares converted into SIMPLE Class (See Note 1) | 774 | 4,380 |
Net increase (decrease) | 216 | $1,228 |
(a) | The inception date of the class was August 31, 2020. |
46 | MainStay MacKay High Yield Corporate Bond Fund |
48 | MainStay MacKay High Yield Corporate Bond Fund |
50 | MainStay MacKay High Yield Corporate Bond Fund |
52 | MainStay MacKay High Yield Corporate Bond Fund |
For more information
Message from the President and Semiannual Report
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Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 5.5% Initial Sales Charge | With sales charges | 1/3/1995 | -26.09% | -20.12% | 5.14% | 5.29% | 1.33% |
Excluding sales charges | -21.79 | -15.47 | 6.33 | 5.89 | 1.33 | |||
Investor Class Shares3 | Maximum 5% Initial Sales Charge | With sales charges | 2/28/2008 | -25.85 | -20.01 | 4.76 | 4.92 | 1.71 |
Excluding sales charges | -21.95 | -15.80 | 5.95 | 5.51 | 1.71 | |||
Class B Shares4 | Maximum 5% CDSC | With sales charges | 9/13/1994 | -25.54 | -19.95 | 4.83 | 4.72 | 2.46 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -22.25 | -16.41 | 5.16 | 4.72 | 2.46 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/1/1998 | -22.86 | -17.15 | 5.16 | 4.72 | 2.46 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -22.20 | -16.45 | 5.16 | 4.72 | 2.46 | ||
Class I Shares | No Sales Charge | 1/2/2004 | -21.67 | -15.19 | 6.68 | 6.18 | 1.08 | |
Class R1 Shares | No Sales Charge | 1/2/2004 | -21.73 | -15.32 | 6.51 | 6.04 | 1.18 | |
Class R2 Shares | No Sales Charge | 1/2/2004 | -21.83 | -15.56 | 6.23 | 5.78 | 1.43 | |
Class R3 Shares | No Sales Charge | 4/28/2006 | -21.92 | -15.75 | 5.97 | 5.51 | 1.68 | |
Class R6 Shares | No Sales Charge | 2/28/2019 | -21.67 | -15.15 | N/A | 7.21 | 0.98 |
1. | Not annualized. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Prior to June 30, 2020, the maximum initial sales charge was 5.5%, which is reflected in the applicable average annual total return figures shown. |
4. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
MSCI ACWI® ex USA Index (Net)2 | -11.87% | -10.31% | 4.94% | 5.04% |
MSCI EAFE Index® (Net)3 | -11.80 | -8.15 | 4.77 | 5.77 |
Morningstar Foreign Large Growth Category Average4 | -22.07 | -18.45 | 5.99 | 5.91 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The Fund has selected the MSCI ACWI® (All Country World Index) ex USA Index (Net) as its primary benchmark. The MSCI ACWI® ex USA Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Results assume reinvestment of all income and capital gains. An investment cannot be made directly in an index. |
3. | The MSCI EAFE® Index (Net) is the Fund's secondary benchmark. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Morningstar Foreign Large Growth Category Average is representative of funds that focus on high-priced growth stocks, mainly outside of the United States. Most of these funds divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. These funds primarily invest in stocks that have market caps in the top 70% of each economically integrated market and will have less than 20% of assets invested in U.S. stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay MacKay International Equity Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $782.10 | $5.17 | $1,018.99 | $5.86 | 1.17% |
Investor Class Shares | $1,000.00 | $780.50 | $6.84 | $1,017.11 | $7.75 | 1.55% |
Class B Shares | $1,000.00 | $777.50 | $10.14 | $1,013.39 | $11.48 | 2.30% |
Class C Shares | $1,000.00 | $778.00 | $10.14 | $1,013.39 | $11.48 | 2.30% |
Class I Shares | $1,000.00 | $783.30 | $3.76 | $1,020.58 | $4.26 | 0.85% |
Class R1 Shares | $1,000.00 | $782.70 | $4.55 | $1,019.69 | $5.16 | 1.03% |
Class R2 Shares | $1,000.00 | $781.70 | $5.61 | $1,018.50 | $6.36 | 1.27% |
Class R3 Shares | $1,000.00 | $780.80 | $6.71 | $1,017.26 | $7.60 | 1.52% |
Class R6 Shares | $1,000.00 | $783.30 | $3.67 | $1,020.68 | $4.16 | 0.83% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Country Composition as of April 30, 2022 (Unaudited)
United Kingdom | 14.6% |
France | 10.9 |
United States | 9.9 |
Japan | 9.7 |
Germany | 8.8 |
Switzerland | 7.4 |
Netherlands | 5.1 |
India | 4.9 |
China | 4.8 |
Ireland | 3.4 |
Taiwan | 3.3 |
Israel | 2.9% |
Sweden | 2.8 |
Brazil | 2.7 |
Canada | 2.4 |
Denmark | 2.0 |
Hong Kong | 1.4 |
Italy | 1.0 |
Other Assets, Less Liabilities | 2.0 |
100.0% |
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | Tencent Holdings Ltd. |
2. | HDFC Bank Ltd. |
3. | Prudential plc |
4. | TE Connectivity Ltd. |
5. | Teleperformance |
6. | ICON plc |
7. | Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR |
8. | NICE Ltd., Sponsored ADR |
9. | Hapvida Participacoes e Investimentos SA |
10. | Deutsche Boerse AG |
8 | MainStay MacKay International Equity Fund |
Shares | Value | |
Common Stocks 95.1% | ||
Brazil 2.7% | ||
Hapvida Participacoes e Investimentos SA (Health Care Providers & Services) (a) | 5,272,838 | $ 9,353,410 |
Canada 2.4% | ||
Constellation Software, Inc. (Software) | 5,294 | 8,332,059 |
China 4.8% | ||
Tencent Holdings Ltd. (Interactive Media & Services) | 351,399 | 16,482,504 |
Denmark 2.0% | ||
Chr Hansen Holding A/S (Chemicals) | 90,140 | 7,024,392 |
France 10.9% | ||
BioMerieux (Health Care Equipment & Supplies) | 74,482 | 7,066,368 |
Dassault Systemes SE (Software) | 127,356 | 5,665,404 |
Edenred (IT Services) | 167,799 | 8,410,900 |
Sartorius Stedim Biotech (Life Sciences Tools & Services) | 12,020 | 3,912,466 |
Teleperformance (Professional Services) | 35,038 | 12,527,527 |
37,582,665 | ||
Germany 8.8% | ||
Carl Zeiss Meditec AG (Health Care Equipment & Supplies) | 23,212 | 2,931,831 |
Deutsche Boerse AG (Capital Markets) | 51,597 | 9,043,565 |
Scout24 SE (Interactive Media & Services) (a) | 120,199 | 7,669,242 |
Symrise AG (Chemicals) | 55,913 | 6,685,391 |
Zalando SE (Internet & Direct Marketing Retail) (a)(b) | 101,536 | 4,027,166 |
30,357,195 | ||
Hong Kong 1.4% | ||
AIA Group Ltd. (Insurance) | 506,600 | 4,949,440 |
India 4.9% | ||
HDFC Bank Ltd. (Banks) | 788,161 | 14,152,085 |
Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) | 101,426 | 2,920,228 |
17,072,313 | ||
Ireland 3.4% | ||
ICON plc (Life Sciences Tools & Services) (b) | 51,458 | 11,640,314 |
Shares | Value | |
Israel 2.9% | ||
NICE Ltd., Sponsored ADR (Software) (b) | 48,932 | $ 10,100,054 |
Italy 1.0% | ||
Reply SpA (IT Services) | 22,721 | 3,333,702 |
Japan 9.7% | ||
Benefit One, Inc. (Professional Services) | 375,500 | 5,633,207 |
JMDC, Inc. (Health Care Technology) | 77,600 | 3,690,443 |
Menicon Co. Ltd. (Health Care Equipment & Supplies) | 197,000 | 4,212,299 |
MonotaRO Co. Ltd. (Trading Companies & Distributors) | 253,400 | 4,393,554 |
Relo Group, Inc. (Real Estate Management & Development) | 330,500 | 4,743,067 |
SMS Co. Ltd. (Professional Services) | 206,900 | 4,777,089 |
TechnoPro Holdings, Inc. (Professional Services) | 238,600 | 5,972,146 |
33,421,805 | ||
Netherlands 5.1% | ||
Adyen NV (IT Services) (a)(b) | 2,098 | 3,508,817 |
IMCD NV (Trading Companies & Distributors) | 38,369 | 6,095,426 |
Koninklijke DSM NV (Chemicals) | 47,812 | 8,008,030 |
17,612,273 | ||
Sweden 2.8% | ||
Hexagon AB, Class B (Electronic Equipment, Instruments & Components) (b)(c) | 497,111 | 6,427,513 |
MIPS AB (Leisure Products) | 46,123 | 3,282,105 |
9,709,618 | ||
Switzerland 7.4% | ||
Belimo Holding AG (Registered) (Building Products) | 9,537 | 4,711,018 |
Lonza Group AG (Registered) (Life Sciences Tools & Services) | 13,758 | 8,077,267 |
TE Connectivity Ltd. (Electronic Equipment, Instruments & Components) | 101,396 | 12,652,193 |
25,440,478 | ||
Taiwan 3.3% | ||
Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR (Semiconductors & Semiconductor Equipment) | 124,530 | 11,572,573 |
10 | MainStay MacKay International Equity Fund |
Shares | Value | |
Common Stocks (continued) | ||
United Kingdom 14.6% | ||
Diageo plc (Beverages) | 166,192 | $ 8,235,658 |
Experian plc (Professional Services) | 221,858 | 7,689,931 |
HomeServe plc (Commercial Services & Supplies) | 416,765 | 5,136,314 |
Linde plc (Chemicals) | 26,044 | 8,124,686 |
Prudential plc (Insurance) | 1,110,458 | 13,803,497 |
St James's Place plc (Capital Markets) | 481,116 | 7,674,707 |
50,664,793 | ||
United States 7.0% | ||
Accenture plc, Class A (IT Services) | 24,574 | 7,381,047 |
Aon plc, Class A (Insurance) | 21,560 | 6,209,064 |
Fiverr International Ltd. (Internet & Direct Marketing Retail) (b)(c) | 57,030 | 3,036,848 |
Globant SA (IT Services) (b) | 16,957 | 3,662,542 |
STERIS plc (Health Care Equipment & Supplies) | 17,423 | 3,903,623 |
24,193,124 | ||
Total Common Stocks (Cost $320,320,680) | 328,842,712 | |
Short-Term Investments 2.9% | ||
Affiliated Investment Company 0.2% | ||
United States 0.2% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (d) | 806,282 | 806,282 |
Shares | Value | |
Unaffiliated Investment Company 2.7% | ||
United States 2.7% | ||
Invesco Government & Agency Portfolio, 0.419% (d)(e) | 9,194,527 | $ 9,194,527 |
Total Short-Term Investments (Cost $10,000,809) | 10,000,809 | |
Total Investments (Cost $330,321,489) | 98.0% | 338,843,521 |
Other Assets, Less Liabilities | 2.0 | 6,934,740 |
Net Assets | 100.0% | $ 345,778,261 |
† | Percentages indicated are based on Fund net assets. |
(a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(b) | Non-income producing security. |
(c) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $8,423,086. The Fund received cash collateral with a value of $9,194,527. (See Note 2(I)) |
(d) | Current yield as of April 30, 2022. |
(e) | Represents a security purchased with cash collateral received for securities on loan. |
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 611 | $ 26,969 | $ (26,774) | $ — | $ — | $ 806 | $ —(a) | $ — | 806 |
(a) | Less than $500. |
Abbreviation(s): |
ADR—American Depositary Receipt |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Common Stocks | ||||
China | $ — | $ 16,482,504 | $ — | $ 16,482,504 |
Denmark | — | 7,024,392 | — | 7,024,392 |
France | — | 37,582,665 | — | 37,582,665 |
Germany | — | 30,357,195 | — | 30,357,195 |
Hong Kong | — | 4,949,440 | — | 4,949,440 |
India | — | 17,072,313 | — | 17,072,313 |
Italy | — | 3,333,702 | — | 3,333,702 |
Japan | — | 33,421,805 | — | 33,421,805 |
Netherlands | — | 17,612,273 | — | 17,612,273 |
Sweden | — | 9,709,618 | — | 9,709,618 |
Switzerland | 12,652,193 | 12,788,285 | — | 25,440,478 |
United Kingdom | 8,124,686 | 42,540,107 | — | 50,664,793 |
All Other Countries | 75,191,534 | — | — | 75,191,534 |
Total Common Stocks | 95,968,413 | 232,874,299 | — | 328,842,712 |
Short-Term Investments | ||||
Affiliated Investment Company | 806,282 | — | — | 806,282 |
Unaffiliated Investment Company | 9,194,527 | — | — | 9,194,527 |
Total Short-Term Investments | 10,000,809 | — | — | 10,000,809 |
Total Investments in Securities | $ 105,969,222 | $ 232,874,299 | $ — | $ 338,843,521 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
12 | MainStay MacKay International Equity Fund |
Value | Percent † | |
Banks | $14,152,085 | 4.1% |
Beverages | 8,235,658 | 2.4 |
Building Products | 4,711,018 | 1.4 |
Capital Markets | 16,718,272 | 4.8 |
Chemicals | 29,842,499 | 8.5 |
Commercial Services & Supplies | 5,136,314 | 1.5 |
Electronic Equipment, Instruments & Components | 19,079,706 | 5.6 |
Health Care Equipment & Supplies | 18,114,121 | 5.3 |
Health Care Providers & Services | 9,353,410 | 2.7 |
Health Care Technology | 3,690,443 | 1.1 |
Insurance | 24,962,001 | 7.2 |
Interactive Media & Services | 24,151,746 | 7.0 |
Internet & Direct Marketing Retail | 7,064,014 | 2.1 |
IT Services | 26,297,008 | 7.6 |
Leisure Products | 3,282,105 | 0.9 |
Life Sciences Tools & Services | 23,630,047 | 6.8 |
Professional Services | 36,599,900 | 10.5 |
Real Estate Management & Development | 4,743,067 | 1.4 |
Semiconductors & Semiconductor Equipment | 11,572,573 | 3.3 |
Software | 24,097,517 | 7.0 |
Thrifts & Mortgage Finance | 2,920,228 | 0.8 |
Trading Companies & Distributors | 10,488,980 | 3.1 |
328,842,712 | 95.1 | |
Short-Term Investments | 10,000,809 | 2.9 |
Other Assets, Less Liabilities | 6,934,740 | 2.0 |
Net Assets | $345,778,261 | 100.0% |
† | Percentages indicated are based on Fund net assets. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $329,515,207) including securities on loan of $8,423,086 | $338,037,239 |
Investment in affiliated investment companies, at value (identified cost $806,282) | 806,282 |
Cash denominated in foreign currencies (identified cost $15,314,680) | 15,162,357 |
Receivables: | |
Investment securities sold | 4,655,639 |
Dividends | 938,260 |
Foreign capital gains tax (See Note 2) | 108,594 |
Fund shares sold | 37,819 |
Securities lending | 630 |
Other assets | 76,471 |
Total assets | 359,823,291 |
Liabilities | |
Cash collateral received for securities on loan | 9,194,527 |
Due to custodian | 24 |
Payables: | |
Investment securities purchased | 4,387,973 |
Manager (See Note 3) | 216,536 |
Fund shares redeemed | 99,027 |
Transfer agent (See Note 3) | 62,940 |
Custodian | 32,439 |
NYLIFE Distributors (See Note 3) | 21,300 |
Professional fees | 17,766 |
Shareholder communication | 5,468 |
Trustees | 500 |
Accrued expenses | 6,530 |
Total liabilities | 14,045,030 |
Net assets | $345,778,261 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $213,679 |
Additional paid-in-capital | 349,124,930 |
349,338,609 | |
Total distributable earnings (loss) | (3,560,348) |
Net assets | $345,778,261 |
Class A | |
Net assets applicable to outstanding shares | $66,110,972 |
Shares of beneficial interest outstanding | 4,109,338 |
Net asset value per share outstanding | $16.09 |
Maximum sales charge (5.50% of offering price) | 0.94 |
Maximum offering price per share outstanding | $17.03 |
Investor Class | |
Net assets applicable to outstanding shares | $16,543,778 |
Shares of beneficial interest outstanding | 1,048,269 |
Net asset value per share outstanding | $15.78 |
Maximum sales charge (5.00% of offering price) | 0.83 |
Maximum offering price per share outstanding | $16.61 |
Class B | |
Net assets applicable to outstanding shares | $1,333,607 |
Shares of beneficial interest outstanding | 101,091 |
Net asset value and offering price per share outstanding | $13.19 |
Class C | |
Net assets applicable to outstanding shares | $1,608,937 |
Shares of beneficial interest outstanding | 122,013 |
Net asset value and offering price per share outstanding | $13.19 |
Class I | |
Net assets applicable to outstanding shares | $36,603,413 |
Shares of beneficial interest outstanding | 2,251,153 |
Net asset value and offering price per share outstanding | $16.26 |
Class R1 | |
Net assets applicable to outstanding shares | $124,311 |
Shares of beneficial interest outstanding | 7,702 |
Net asset value and offering price per share outstanding | $16.14 |
Class R2 | |
Net assets applicable to outstanding shares | $189,451 |
Shares of beneficial interest outstanding | 11,766 |
Net asset value and offering price per share outstanding | $16.10 |
Class R3 | |
Net assets applicable to outstanding shares | $803,743 |
Shares of beneficial interest outstanding | 50,873 |
Net asset value and offering price per share outstanding | $15.80 |
Class R6 | |
Net assets applicable to outstanding shares | $222,460,049 |
Shares of beneficial interest outstanding | 13,665,657 |
Net asset value and offering price per share outstanding | $16.28 |
14 | MainStay MacKay International Equity Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated (net of foreign tax withholding of $160,575) | $1,941,384 |
Securities lending | 45,923 |
Dividends-affiliated | 114 |
Total income | 1,987,421 |
Expenses | |
Manager (See Note 3) | 1,762,587 |
Distribution/Service—Class A (See Note 3) | 97,914 |
Distribution/Service—Investor Class (See Note 3) | 24,240 |
Distribution/Service—Class B (See Note 3) | 8,943 |
Distribution/Service—Class C (See Note 3) | 10,269 |
Distribution/Service—Class R2 (See Note 3) | 274 |
Distribution/Service—Class R3 (See Note 3) | 2,193 |
Transfer agent (See Note 3) | 124,225 |
Registration | 58,581 |
Custodian | 48,584 |
Professional fees | 46,798 |
Shareholder communication | 12,511 |
Trustees | 4,225 |
Shareholder service (See Note 3) | 617 |
Miscellaneous | 17,042 |
Total expenses before waiver/reimbursement | 2,219,003 |
Expense waiver/reimbursement from Manager (See Note 3) | (333,919) |
Net expenses | 1,885,084 |
Net investment income (loss) | 102,337 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | (7,907,399) |
Foreign currency transactions | (264,450) |
Net realized gain (loss) | (8,171,849) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments(a) | (87,092,036) |
Translation of other assets and liabilities in foreign currencies | (379,418) |
Net change in unrealized appreciation (depreciation) | (87,471,454) |
Net realized and unrealized gain (loss) | (95,643,303) |
Net increase (decrease) in net assets resulting from operations | $(95,540,966) |
(a) | Net change in unrealized appreciation (depreciation) on investments recorded net of foreign capital gains tax in the amount of $485,939. |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $102,337 | $1,100,518 |
Net realized gain (loss) | (8,171,849) | 58,265,906 |
Net change in unrealized appreciation (depreciation) | (87,471,454) | 53,839,920 |
Net increase (decrease) in net assets resulting from operations | (95,540,966) | 113,206,344 |
Distributions to shareholders: | ||
Class A | (11,213,664) | (2,496,321) |
Investor Class | (2,781,278) | (878,981) |
Class B | (311,669) | (104,666) |
Class C | (353,778) | (133,782) |
Class I | (6,710,826) | (1,460,845) |
Class R1 | (18,831) | (5,793) |
Class R2 | (33,750) | (19,645) |
Class R3 | (120,330) | (47,741) |
Class R6 | (34,544,244) | (8,406,730) |
Total distributions to shareholders | (56,088,370) | (13,554,504) |
Capital share transactions: | ||
Net proceeds from sales of shares | 22,878,532 | 44,435,679 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 55,904,021 | 13,508,107 |
Cost of shares redeemed | (22,682,342) | (43,961,450) |
Increase (decrease) in net assets derived from capital share transactions | 56,100,211 | 13,982,336 |
Net increase (decrease) in net assets | (95,529,125) | 113,634,176 |
Net Assets | ||
Beginning of period | 441,307,386 | 327,673,210 |
End of period | $345,778,261 | $441,307,386 |
16 | MainStay MacKay International Equity Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $23.67 | $18.27 | $17.12 | $15.48 | $16.38 | $13.51 |
Net investment income (loss) (a) | (0.02) | 0.01 | (0.01) | 0.09 | 0.03 | 0.00‡ |
Net realized and unrealized gain (loss) | (4.59) | 6.13 | 1.68 | 1.70 | (0.84) | 2.91 |
Total from investment operations | (4.61) | 6.14 | 1.67 | 1.79 | (0.81) | 2.91 |
Less distributions: | ||||||
From net investment income | (0.01) | — | (0.05) | — | (0.09) | (0.04) |
From net realized gain on investments | (2.96) | (0.74) | (0.47) | (0.15) | — | — |
Total distributions | (2.97) | (0.74) | (0.52) | (0.15) | (0.09) | (0.04) |
Net asset value at end of period | $16.09 | $23.67 | $18.27 | $17.12 | $15.48 | $16.38 |
Total investment return (b) | (21.79)% | 34.31% | 9.84% | 11.74% | (4.98)% | 21.59% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.18)%†† | 0.05% | (0.09)% | 0.57% | 0.17% | 0.01% |
Net expenses (c) | 1.17%†† | 1.18% | 1.21% | 1.21% | 1.32% | 1.34% |
Expenses (before waiver/reimbursement) (c) | 1.34%†† | 1.33% | 1.40% | 1.35% | 1.32% | 1.34% |
Portfolio turnover rate | 43% | 101% | 135% | 58% | 53% | 45% |
Net assets at end of period (in 000’s) | $66,111 | $89,076 | $61,795 | $57,566 | $59,304 | $54,553 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $23.30 | $18.06 | $16.94 | $15.38 | $16.27 | $13.43 |
Net investment income (loss) (a) | (0.05) | (0.06) | (0.07) | 0.03 | (0.03) | (0.04) |
Net realized and unrealized gain (loss) | (4.51) | 6.04 | 1.66 | 1.68 | (0.83) | 2.88 |
Total from investment operations | (4.56) | 5.98 | 1.59 | 1.71 | (0.86) | 2.84 |
Less distributions: | ||||||
From net investment income | — | — | — | — | (0.03) | — |
From net realized gain on investments | (2.96) | (0.74) | (0.47) | (0.15) | — | — |
Total distributions | (2.96) | (0.74) | (0.47) | (0.15) | (0.03) | — |
Net asset value at end of period | $15.78 | $23.30 | $18.06 | $16.94 | $15.38 | $16.27 |
Total investment return (b) | (21.95)% | 33.80% | 9.40% | 11.36% | (5.31)% | 21.15% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.55)%†† | (0.30)% | (0.43)% | 0.21% | (0.19)% | (0.26)% |
Net expenses (c) | 1.55%†† | 1.56% | 1.56% | 1.59% | 1.66% | 1.69% |
Expenses (before waiver/reimbursement) (c) | 1.71%†† | 1.71% | 1.75% | 1.75% | 1.70% | 1.69% |
Portfolio turnover rate | 43% | 101% | 135% | 58% | 53% | 45% |
Net assets at end of period (in 000's) | $16,544 | $21,990 | $21,699 | $23,870 | $21,679 | $25,029 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $20.05 | $15.74 | $14.94 | $13.68 | $14.55 | $12.10 |
Net investment income (loss) (a) | (0.11) | (0.20) | (0.18) | (0.08) | (0.14) | (0.14) |
Net realized and unrealized gain (loss) | (3.79) | 5.25 | 1.45 | 1.49 | (0.73) | 2.59 |
Total from investment operations | (3.90) | 5.05 | 1.27 | 1.41 | (0.87) | 2.45 |
Less distributions: | ||||||
From net realized gain on investments | (2.96) | (0.74) | (0.47) | (0.15) | — | — |
Net asset value at end of period | $13.19 | $20.05 | $15.74 | $14.94 | $13.68 | $14.55 |
Total investment return (b) | (22.25)% | 32.84% | 8.57% | 10.49% | (5.98)% | 20.25% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (1.32)%†† | (1.06)% | (1.20)% | (0.59)% | (0.95)% | (1.05)% |
Net expenses (c) | 2.30%†† | 2.31% | 2.31% | 2.35% | 2.41% | 2.44% |
Expenses (before waiver/reimbursement) (c) | 2.47%†† | 2.46% | 2.50% | 2.50% | 2.44% | 2.44% |
Portfolio turnover rate | 43% | 101% | 135% | 58% | 53% | 45% |
Net assets at end of period (in 000’s) | $1,334 | $2,192 | $2,368 | $3,345 | $4,404 | $6,210 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $20.04 | $15.75 | $14.93 | $13.68 | $14.56 | $12.10 |
Net investment income (loss) (a) | (0.10) | (0.21) | (0.18) | (0.09) | (0.14) | (0.14) |
Net realized and unrealized gain (loss) | (3.79) | 5.24 | 1.47 | 1.49 | (0.74) | 2.60 |
Total from investment operations | (3.89) | 5.03 | 1.29 | 1.40 | (0.88) | 2.46 |
Less distributions: | ||||||
From net realized gain on investments | (2.96) | (0.74) | (0.47) | (0.15) | — | — |
Net asset value at end of period | $13.19 | $20.04 | $15.75 | $14.93 | $13.68 | $14.56 |
Total investment return (b) | (22.20)% | 32.69% | 8.64% | 10.49% | (6.04)% | 20.33% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (1.32)%†† | (1.12)% | (1.20)% | (0.65)% | (0.93)% | (1.05)% |
Net expenses (c) | 2.30%†† | 2.31% | 2.31% | 2.35% | 2.41% | 2.44% |
Expenses (before waiver/reimbursement) (c) | 2.47%†† | 2.46% | 2.50% | 2.50% | 2.44% | 2.44% |
Portfolio turnover rate | 43% | 101% | 135% | 58% | 53% | 45% |
Net assets at end of period (in 000’s) | $1,609 | $2,470 | $2,952 | $3,915 | $6,960 | $7,564 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
18 | MainStay MacKay International Equity Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $23.93 | $18.43 | $17.28 | $15.57 | $16.48 | $13.59 |
Net investment income (loss) (a) | 0.01 | 0.09 | 0.05 | 0.09 | 0.07 | 0.05 |
Net realized and unrealized gain (loss) | (4.63) | 6.17 | 1.69 | 1.78 | (0.85) | 2.91 |
Total from investment operations | (4.62) | 6.26 | 1.74 | 1.87 | (0.78) | 2.96 |
Less distributions: | ||||||
From net investment income | (0.09) | (0.02) | (0.12) | (0.01) | (0.13) | (0.07) |
From net realized gain on investments | (2.96) | (0.74) | (0.47) | (0.15) | — | — |
Total distributions | (3.05) | (0.76) | (0.59) | (0.16) | (0.13) | (0.07) |
Net asset value at end of period | $16.26 | $23.93 | $18.43 | $17.28 | $15.57 | $16.48 |
Total investment return (b) | (21.67)% | 34.72% | 10.22% | 12.19% | (4.80)% | 21.94% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.14%†† | 0.39% | 0.27% | 0.55% | 0.42% | 0.31% |
Net expenses (c) | 0.85%†† | 0.85% | 0.85% | 0.92% | 1.07% | 1.09% |
Expenses (before waiver/reimbursement) (c) | 1.09%†† | 1.08% | 1.16% | 1.10% | 1.07% | 1.09% |
Portfolio turnover rate | 43% | 101% | 135% | 58% | 53% | 45% |
Net assets at end of period (in 000’s) | $36,603 | $53,914 | $35,880 | $43,280 | $213,030 | $205,009 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R1 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $23.75 | $18.31 | $17.15 | $15.48 | $16.38 | $13.51 |
Net investment income (loss) (a) | (0.00)‡ | 0.05 | (0.01) | 0.05 | 0.05 | 0.03 |
Net realized and unrealized gain (loss) | (4.61) | 6.13 | 1.71 | 1.77 | (0.84) | 2.90 |
Total from investment operations | (4.61) | 6.18 | 1.70 | 1.82 | (0.79) | 2.93 |
Less distributions: | ||||||
From net investment income | (0.04) | — | (0.07) | — | (0.11) | (0.06) |
From net realized gain on investments | (2.96) | (0.74) | (0.47) | (0.15) | — | — |
Total distributions | (3.00) | (0.74) | (0.54) | (0.15) | (0.11) | (0.06) |
Net asset value at end of period | $16.14 | $23.75 | $18.31 | $17.15 | $15.48 | $16.38 |
Total investment return (b) | (21.73)% | 34.46% | 10.05% | 11.93% | (4.86)% | 21.78% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.01)%†† | 0.23% | (0.05)% | 0.33% | 0.29% | 0.21% |
Net expenses (c) | 1.03%†† | 1.03% | 1.06% | 1.11% | 1.17% | 1.19% |
Expenses (before waiver/reimbursement) (c) | 1.19%†† | 1.18% | 1.25% | 1.19% | 1.17% | 1.19% |
Portfolio turnover rate | 43% | 101% | 135% | 58% | 53% | 45% |
Net assets at end of period (in 000’s) | $124 | $157 | $143 | $265 | $2,109 | $2,616 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R1 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R2 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $23.68 | $18.30 | $17.15 | $15.52 | $16.42 | $13.54 |
Net investment income (loss) (a) | (0.03) | (0.01) | (0.03) | 0.06 | (0.02) | 0.01 |
Net realized and unrealized gain (loss) | (4.59) | 6.13 | 1.68 | 1.72 | (0.80) | 2.89 |
Total from investment operations | (4.62) | 6.12 | 1.65 | 1.78 | (0.82) | 2.90 |
Less distributions: | ||||||
From net investment income | — | — | (0.03) | — | (0.08) | (0.02) |
From net realized gain on investments | (2.96) | (0.74) | (0.47) | (0.15) | — | — |
Total distributions | (2.96) | (0.74) | (0.50) | (0.15) | (0.08) | (0.02) |
Net asset value at end of period | $16.10 | $23.68 | $18.30 | $17.15 | $15.52 | $16.42 |
Total investment return (b) | (21.83)% | 34.14% | 9.72% | 11.64% | (5.06)%(c) | 21.55%(c) |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.29)%†† | (0.06)% | (0.18)% | 0.38% | (0.13)% | 0.06% |
Net expenses (d) | 1.27%†† | 1.28% | 1.31% | 1.31% | 1.42% | 1.44% |
Expenses (before waiver/reimbursement) (d) | 1.44%†† | 1.43% | 1.50% | 1.45% | 1.42% | 1.44% |
Portfolio turnover rate | 43% | 101% | 135% | 58% | 53% | 45% |
Net assets at end of period (in 000’s) | $189 | $291 | $486 | $454 | $602 | $1,201 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R2 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | Total investment return may reflect adjustments to conform to generally accepted accounting principles. |
(d) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R3 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $23.32 | $18.08 | $16.96 | $15.38 | $16.29 | $13.44 |
Net investment income (loss) (a) | (0.05) | (0.06) | (0.08) | 0.03 | (0.04) | (0.04) |
Net realized and unrealized gain (loss) | (4.51) | 6.04 | 1.67 | 1.70 | (0.83) | 2.89 |
Total from investment operations | (4.56) | 5.98 | 1.59 | 1.73 | (0.87) | 2.85 |
Less distributions: | ||||||
From net investment income | — | — | — | — | (0.04) | — |
From net realized gain on investments | (2.96) | (0.74) | (0.47) | (0.15) | — | — |
Total distributions | (2.96) | (0.74) | (0.47) | (0.15) | (0.04) | — |
Net asset value at end of period | $15.80 | $23.32 | $18.08 | $16.96 | $15.38 | $16.29 |
Total investment return (b) | (21.92)% | 33.77% | 9.46% | 11.35% | (5.39)%(c) | 21.21% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.51)%†† | (0.28)% | (0.46)% | 0.22% | (0.21)% | (0.27)% |
Net expenses (d) | 1.52%†† | 1.53% | 1.56% | 1.56% | 1.67% | 1.69% |
Expenses (before waiver/reimbursement) (d) | 1.69%†† | 1.68% | 1.75% | 1.70% | 1.67% | 1.69% |
Portfolio turnover rate | 43% | 101% | 135% | 58% | 53% | 45% |
Net assets at end of period (in 000’s) | $804 | $942 | $1,140 | $1,154 | $1,057 | $1,446 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | Total investment return may reflect adjustments to conform to generally accepted accounting principles. |
(d) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
20 | MainStay MacKay International Equity Fund |
Six months ended April 30, 2022* | Year Ended October 31, | February 28, 2019^ through October 31, 2019 | ||
Class R6 | 2021 | 2020 | ||
Net asset value at beginning of period | $23.95 | $18.45 | $17.28 | $16.13 |
Net investment income (loss) (a) | 0.02 | 0.09 | 0.05 | 0.15 |
Net realized and unrealized gain (loss) | (4.64) | 6.18 | 1.70 | 1.00 |
Total from investment operations | (4.62) | 6.27 | 1.75 | 1.15 |
Less distributions: | ||||
From net investment income | (0.09) | (0.03) | (0.11) | — |
From net realized gain on investments | (2.96) | (0.74) | (0.47) | — |
Total distributions | (3.05) | (0.77) | (0.58) | — |
Net asset value at end of period | $16.28 | $23.95 | $18.45 | $17.28 |
Total investment return (b) | (21.67)% | 34.74% | 10.27% | 7.13% |
Ratios (to average net assets)/Supplemental Data: | ||||
Net investment income (loss) | 0.18%†† | 0.40% | 0.31% | 1.37%†† |
Net expenses (c) | 0.83%†† | 0.83% | 0.83% | 0.83%†† |
Expenses (before waiver/reimbursement) (c) | 0.99%†† | 0.98% | 1.02% | 1.00%†† |
Portfolio turnover rate | 43% | 101% | 135% | 58% |
Net assets at end of period (in 000’s) | $222,460 | $270,274 | $201,210 | $177,483 |
* | Unaudited. |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Class | Commenced Operations |
Class A | January 3, 1995 |
Investor Class | February 28, 2008 |
Class B | September 13, 1994 |
Class C | September 1, 1998 |
Class I | January 2, 2004 |
Class R1 | January 2, 2004 |
Class R2 | January 2, 2004 |
Class R3 | April 28, 2006 |
Class R6 | February 28, 2019 |
SIMPLE Class | N/A* |
* | SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
22 | MainStay MacKay International Equity Fund |
• Broker/dealer quotes | • Benchmark securities |
• Two-sided markets | • Reference data (corporate actions or material event notices) |
• Bids/offers | • Monthly payment information |
• Industry and economic events | • Reported trades |
24 | MainStay MacKay International Equity Fund |
26 | MainStay MacKay International Equity Fund |
Class R1 | $69 |
Class R2 | 109 |
Class R3 | 439 |
Class | Expense | Waived |
Class A | $40,086 | $— |
Investor Class | 46,536 | — |
Class B | 4,309 | — |
Class C | 4,940 | — |
Class I | 22,746 | — |
Class R1 | 71 | — |
Class R2 | 112 | — |
Class R3 | 451 | — |
Class R6 | 4,974 | — |
Class I | $14,427,070 | 39.4% |
Class R6 | 170,052,327 | 76.4 |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $334,145,004 | $32,135,640 | $(27,437,123) | $4,698,517 |
2021 | |
Distributions paid from: | |
Ordinary Income | $8,006,740 |
Long-Term Capital Gains | 5,547,764 |
Total | $13,554,504 |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 131,194 | $2,584,199 |
Shares issued to shareholders in reinvestment of distributions | 560,771 | 11,086,434 |
Shares redeemed | (375,212) | (6,992,662) |
Net increase (decrease) in shares outstanding before conversion | 316,753 | 6,677,971 |
Shares converted into Class A (See Note 1) | 28,910 | 549,269 |
Net increase (decrease) | 345,663 | $7,227,240 |
Year ended October 31, 2021: | ||
Shares sold | 439,982 | $9,546,189 |
Shares issued to shareholders in reinvestment of distributions | 122,230 | 2,462,926 |
Shares redeemed | (481,241) | (10,442,551) |
Net increase (decrease) in shares outstanding before conversion | 80,971 | 1,566,564 |
Shares converted into Class A (See Note 1) | 301,169 | 6,650,481 |
Shares converted from Class A (See Note 1) | (115) | (2,340) |
Net increase (decrease) | 382,025 | $8,214,705 |
28 | MainStay MacKay International Equity Fund |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 16,590 | $309,372 |
Shares issued to shareholders in reinvestment of distributions | 142,979 | 2,776,658 |
Shares redeemed | (43,961) | (817,918) |
Net increase (decrease) in shares outstanding before conversion | 115,608 | 2,268,112 |
Shares converted into Investor Class (See Note 1) | 7,520 | 141,443 |
Shares converted from Investor Class (See Note 1) | (18,618) | (352,031) |
Net increase (decrease) | 104,510 | $2,057,524 |
Year ended October 31, 2021: | ||
Shares sold | 53,338 | $1,151,658 |
Shares issued to shareholders in reinvestment of distributions | 44,113 | 877,859 |
Shares redeemed | (92,836) | (1,997,436) |
Net increase (decrease) in shares outstanding before conversion | 4,615 | 32,081 |
Shares converted into Investor Class (See Note 1) | 22,666 | 486,379 |
Shares converted from Investor Class (See Note 1) | (284,938) | (6,205,441) |
Net increase (decrease) | (257,657) | $(5,686,981) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | — | $614 |
Shares issued to shareholders in reinvestment of distributions | 19,144 | 311,669 |
Shares redeemed | (8,773) | (131,690) |
Net increase (decrease) in shares outstanding before conversion | 10,371 | 180,593 |
Shares converted from Class B (See Note 1) | (18,613) | (287,517) |
Net increase (decrease) | (8,242) | $(106,924) |
Year ended October 31, 2021: | ||
Shares sold | 2,841 | $51,762 |
Shares issued to shareholders in reinvestment of distributions | 6,071 | 104,666 |
Shares redeemed | (19,104) | (357,112) |
Net increase (decrease) in shares outstanding before conversion | (10,192) | (200,684) |
Shares converted from Class B (See Note 1) | (30,867) | (579,598) |
Net increase (decrease) | (41,059) | $(780,282) |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 8,112 | $125,374 |
Shares issued to shareholders in reinvestment of distributions | 21,744 | 353,778 |
Shares redeemed | (27,912) | (440,004) |
Net increase (decrease) in shares outstanding before conversion | 1,944 | 39,148 |
Shares converted from Class C (See Note 1) | (3,193) | (51,164) |
Net increase (decrease) | (1,249) | $(12,016) |
Year ended October 31, 2021: | ||
Shares sold | 9,708 | $182,118 |
Shares issued to shareholders in reinvestment of distributions | 7,760 | 133,783 |
Shares redeemed | (62,839) | (1,151,894) |
Net increase (decrease) in shares outstanding before conversion | (45,371) | (835,993) |
Shares converted from Class C (See Note 1) | (18,849) | (349,481) |
Net increase (decrease) | (64,220) | $(1,185,474) |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 142,791 | $2,834,229 |
Shares issued to shareholders in reinvestment of distributions | 334,732 | 6,681,247 |
Shares redeemed | (479,654) | (9,334,706) |
Net increase (decrease) | (2,131) | $180,770 |
Year ended October 31, 2021: | ||
Shares sold | 508,899 | $11,312,447 |
Shares issued to shareholders in reinvestment of distributions | 71,624 | 1,454,680 |
Shares redeemed | (274,230) | (6,066,101) |
Net increase (decrease) | 306,293 | $6,701,026 |
Class R1 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 684 | $12,886 |
Shares issued to shareholders in reinvestment of distributions | 950 | 18,831 |
Shares redeemed | (564) | (12,451) |
Net increase (decrease) | 1,070 | $19,266 |
Year ended October 31, 2021: | ||
Shares sold | 977 | $21,179 |
Shares issued to shareholders in reinvestment of distributions | 287 | 5,793 |
Shares redeemed | (2,424) | (53,729) |
Net increase (decrease) | (1,160) | $(26,757) |
Class R2 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 562 | $9,245 |
Shares issued to shareholders in reinvestment of distributions | 577 | 11,421 |
Shares redeemed | (1,667) | (36,226) |
Net increase (decrease) | (528) | $(15,560) |
Year ended October 31, 2021: | ||
Shares sold | 787 | $16,945 |
Shares issued to shareholders in reinvestment of distributions | 697 | 14,076 |
Shares redeemed | (15,737) | (367,300) |
Net increase (decrease) | (14,253) | $(336,279) |
Class R3 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 5,144 | $94,658 |
Shares issued to shareholders in reinvestment of distributions | 6,160 | 119,739 |
Shares redeemed | (840) | (15,288) |
Net increase (decrease) | 10,464 | $199,109 |
Year ended October 31, 2021: | ||
Shares sold | 9,642 | $204,513 |
Shares issued to shareholders in reinvestment of distributions | 2,389 | 47,594 |
Shares redeemed | (34,705) | (776,187) |
Net increase (decrease) | (22,674) | $(524,080) |
Class R6 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 916,534 | $16,907,955 |
Shares issued to shareholders in reinvestment of distributions | 1,728,941 | 34,544,244 |
Shares redeemed | (262,843) | (4,901,397) |
Net increase (decrease) | 2,382,632 | $46,550,802 |
Year ended October 31, 2021: | ||
Shares sold | 982,195 | $21,948,868 |
Shares issued to shareholders in reinvestment of distributions | 413,514 | 8,406,730 |
Shares redeemed | (1,021,160) | (22,749,140) |
Net increase (decrease) | 374,549 | $7,606,458 |
30 | MainStay MacKay International Equity Fund |
32 | MainStay MacKay International Equity Fund |
34 | MainStay MacKay International Equity Fund |
36 | MainStay MacKay International Equity Fund |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 4.5% Initial Sales Charge | With sales charges | 2/28/1997 | -9.83% | -8.83% | 0.93% | 2.29% | 1.08% |
Excluding sales charges | -5.58 | -4.53 | 1.86 | 2.76 | 1.08 | |||
Investor Class Shares3 | Maximum 4.0% Initial Sales Charge | With sales charges | 2/28/2008 | -9.38 | -8.45 | 0.87 | 2.24 | 1.21 |
Excluding sales charges | -5.60 | -4.63 | 1.80 | 2.71 | 1.21 | |||
Class B Shares4 | Maximum 5.0% CDSC | With sales charges | 2/28/1997 | -10.61 | -9.99 | 0.66 | 1.94 | 1.96 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -5.93 | -5.31 | 1.04 | 1.94 | 1.96 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/1/1998 | -6.97 | -6.35 | 1.04 | 1.93 | 1.96 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -6.04 | -5.42 | 1.04 | 1.93 | 1.96 | ||
Class I Shares | No Sales Charge | 1/2/2004 | -5.42 | -4.22 | 2.13 | 3.03 | 0.83 | |
Class R2 Shares | No Sales Charge | 2/28/2014 | -5.73 | -4.63 | 1.78 | 1.72 | 1.18 | |
Class R3 Shares | No Sales Charge | 2/29/2016 | -5.75 | -4.89 | 1.50 | 3.13 | 1.43 | |
Class R6 Shares | No Sales Charge | 2/28/2018 | -5.39 | -4.16 | N/A | 2.20 | 0.70 |
1. | Not annualized. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Prior to June 30, 2020, the maximum initial sales charge was 4.5%, which is reflected in the applicable average annual total return figures shown. |
4. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
Bloomberg U.S. Aggregate Bond Index2 | -9.47% | -8.51% | 1.20% | 1.73% |
ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index3 | -0.05 | 0.03 | 1.33 | 0.87 |
Morningstar Nontraditional Bond Category Average4 | -4.02 | -3.50 | 1.68 | 1.85 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The Bloomberg U.S. Aggregate Bond Index is the Fund's primary benchmark. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures performance of the investment-grade, U.S. dollar denominated, fixed-rate taxable bond market, including Treasurys, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Fund has selected the ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index as a secondary benchmark. The ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index is unmanaged and tracks the performance of a synthetic asset paying London Interbank Offered Rate to a stated maturity. The index is based on the assumed purchase at par of a synthetic instrument having exactly its stated maturity and with a coupon equal to that day’s fixing rate. That issue is assumed to be sold the following business day (priced at a yield equal to the current day fixing rate) and rolled into a new instrument. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Fund has selected the Morningstar Nontraditional Bond Category Average as an additional benchmark. The Morningstar Nontraditional Bond Category Average contains funds that pursue strategies divergent in one or more ways from conventional practice in the broader bond-fund universe. Morningstar category averages are equal-weighted returns based on constituents of the category at the end of the period. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
6 | MainStay MacKay Strategic Bond Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $944.20 | $4.97 | $1,019.69 | $5.16 | 1.03% |
Investor Class Shares | $1,000.00 | $944.00 | $5.64 | $1,018.99 | $5.86 | 1.17% |
Class B Shares | $1,000.00 | $940.70 | $9.24 | $1,015.27 | $9.59 | 1.92% |
Class C Shares | $1,000.00 | $939.60 | $9.23 | $1,015.27 | $9.59 | 1.92% |
Class I Shares | $1,000.00 | $945.80 | $3.38 | $1,021.32 | $3.51 | 0.70% |
Class R2 Shares | $1,000.00 | $942.70 | $5.44 | $1,019.19 | $5.66 | 1.13% |
Class R3 Shares | $1,000.00 | $942.50 | $6.65 | $1,017.95 | $6.90 | 1.38% |
Class R6 Shares | $1,000.00 | $946.10 | $3.18 | $1,021.52 | $3.31 | 0.66% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Portfolio Composition as of April 30, 2022 (Unaudited)
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | FNMA, (zero coupon)-5.382%, due 4/25/29–3/25/60 |
2. | U.S. Treasury Notes, 1.875%-2.875%, due 4/30/27–2/15/32 |
3. | GNMA, 1.00%-3.00%, due 8/20/50–12/20/51 |
4. | Bank of America Corp., 2.087%-8.57%, due 11/15/24–6/14/29 |
5. | CF Hippolyta LLC, 1.69%-2.60%, due 7/15/60–3/15/61 |
6. | Air Lease Corp., 2.30%-3.25%, due 2/1/25–3/1/25 |
7. | STACR Trust, 3.068%-4.868%, due 2/25/47 |
8. | FHLMC Structured Agency Credit Risk Debt Notes, 2.968%-4.039%, due 9/25/30–2/25/42 |
9. | Ally Financial, Inc., 4.70%-8.00%, due 11/20/25–11/1/31 |
10. | Hertz Vehicle Financing III LP, 2.52%-4.34%, due 12/27/27 |
8 | MainStay MacKay Strategic Bond Fund |
10 | MainStay MacKay Strategic Bond Fund |
Principal Amount | Value | |
Long-Term Bonds 88.3% | ||
Asset-Backed Securities 12.6% | ||
Automobile Asset-Backed Securities 5.1% | ||
American Credit Acceptance Receivables Trust (a) | ||
Series 2021-2, Class D | ||
1.34%, due 7/13/27 | $ 1,000,000 | $ 950,610 |
Series 2021-4, Class D | ||
1.82%, due 2/14/28 | 1,520,000 | 1,422,190 |
Series 2022-1, Class D | ||
2.46%, due 3/13/28 | 2,060,000 | 1,923,998 |
Series 2020-2, Class C | ||
3.88%, due 4/13/26 | 2,725,000 | 2,733,921 |
Avis Budget Rental Car Funding AESOP LLC (a) | ||
Series 2021-1A, Class A | ||
1.38%, due 8/20/27 | 2,000,000 | 1,798,129 |
Series 2020-2A, Class A | ||
2.02%, due 2/20/27 | 1,775,000 | 1,660,089 |
Series 2020-1A, Class A | ||
2.33%, due 8/20/26 | 1,260,000 | 1,202,322 |
Drive Auto Receivables Trust | ||
Series 2021-2, Class D | ||
1.39%, due 3/15/29 | 1,000,000 | 941,722 |
Series 2021-1, Class D | ||
1.45%, due 1/16/29 | 2,215,000 | 2,098,106 |
Flagship Credit Auto Trust (a) | ||
Series 2021-4, Class D | ||
2.26%, due 12/15/27 | 1,900,000 | 1,766,419 |
Series 2020-1, Class E | ||
3.52%, due 6/15/27 | 1,815,000 | 1,733,533 |
Series 2019-2, Class E | ||
4.52%, due 12/15/26 | 815,000 | 805,160 |
Ford Credit Floorplan Master Owner Trust | ||
Series 2018-4, Class A | ||
4.06%, due 11/15/30 | 1,600,000 | 1,617,206 |
GLS Auto Receivables Issuer Trust (a) | ||
Series 2021-3A, Class D | ||
1.48%, due 7/15/27 | 2,455,000 | 2,242,392 |
Series 2021-4A, Class D | ||
2.48%, due 10/15/27 | 1,535,000 | 1,433,577 |
Series 2020-1A, Class D | ||
3.68%, due 11/16/26 | 1,070,000 | 1,061,266 |
GLS Auto Receivables Trust | ||
Series 2021-2A, Class D | ||
1.42%, due 4/15/27 (a) | 915,000 | 844,033 |
Hertz Vehicle Financing III LP (a) | ||
Series 2021-2A, Class C | ||
2.52%, due 12/27/27 | 3,285,000 | 2,976,774 |
Series 2021-2A, Class D | ||
4.34%, due 12/27/27 | 3,450,000 | 3,054,135 |
Principal Amount | Value | |
Automobile Asset-Backed Securities (continued) | ||
Hertz Vehicle Financing LLC | ||
Series 2021-1A, Class C | ||
2.05%, due 12/26/25 (a) | $ 870,000 | $ 818,055 |
Santander Drive Auto Receivables Trust | ||
Series 2021-4, Class D | ||
1.67%, due 10/15/27 | 2,760,000 | 2,557,105 |
35,640,742 | ||
Home Equity Asset-Backed Securities 0.4% | ||
Carrington Mortgage Loan Trust | ||
Series 2007-HE1, Class A3 | ||
0.858% (1 Month LIBOR + 0.19%), due 6/25/37 (b) | 1,505,082 | 1,473,692 |
First NLC Trust | ||
Series 2007-1, Class A1 | ||
0.738% (1 Month LIBOR + 0.07%), due 8/25/37 (a)(b) | 249,966 | 148,700 |
GSAA Home Equity Trust | ||
Series 2007-8, Class A3 | ||
1.568% (1 Month LIBOR + 0.90%), due 8/25/37 (b) | 53,527 | 53,933 |
J.P. Morgan Mortgage Acquisition Trust | ||
Series 2007-HE1, Class AF1 | ||
0.768% (1 Month LIBOR + 0.10%), due 3/25/47 (b) | 88,637 | 58,322 |
MASTR Asset-Backed Securities Trust | ||
Series 2006-HE4, Class A1 | ||
0.768% (1 Month LIBOR + 0.10%), due 11/25/36 (b) | 69,874 | 27,777 |
Morgan Stanley ABS Capital I, Inc. Trust (b) | ||
Series 2007-HE4, Class A2A | ||
0.778% (1 Month LIBOR + 0.11%), due 2/25/37 | 74,900 | 28,929 |
Series 2007-HE7, Class M1 | ||
2.668% (1 Month LIBOR + 2.00%), due 7/25/37 | 635,000 | 589,368 |
2,380,721 | ||
Other Asset-Backed Securities 7.1% | ||
American Airlines Pass-Through Trust | ||
Series 2019-1, Class B | ||
3.85%, due 2/15/28 | 871,268 | 788,441 |
Series 2016-1, Class A | ||
4.10%, due 1/15/28 | 941,094 | 846,549 |
Series 2013-2, Class A | ||
4.95%, due 1/15/23 | 1,280,852 | 1,272,302 |
Series 2016-1, Class B | ||
5.25%, due 1/15/24 | 969,616 | 948,280 |
Principal Amount | Value | |
Asset-Backed Securities (continued) | ||
Other Asset-Backed Securities (continued) | ||
AMSR Trust | ||
Series 2020-SFR4, Class A | ||
1.355%, due 11/17/37 (a) | $ 1,720,000 | $ 1,579,753 |
CF Hippolyta LLC (a) | ||
Series 2020-1, Class A1 | ||
1.69%, due 7/15/60 | 1,040,169 | 964,835 |
Series 2021-1A, Class B1 | ||
1.98%, due 3/15/61 | 4,070,213 | 3,736,844 |
Series 2020-1, Class A2 | ||
1.99%, due 7/15/60 | 1,181,232 | 1,055,856 |
Series 2020-1, Class B1 | ||
2.28%, due 7/15/60 | 460,252 | 428,537 |
Series 2020-1, Class B2 | ||
2.60%, due 7/15/60 | 1,794,982 | 1,614,045 |
Crown Castle Towers LLC | ||
4.241%, due 7/15/28 (a) | 3,825,000 | 3,809,521 |
CVS Pass-Through Trust | ||
5.789%, due 1/10/26 (a) | 27,978 | 28,898 |
DB Master Finance LLC (a) | ||
Series 2021-1A, Class A23 | ||
2.791%, due 11/20/51 | 1,775,550 | 1,531,153 |
Series 2019-1A, Class A23 | ||
4.352%, due 5/20/49 | 1,413,750 | 1,396,704 |
Domino's Pizza Master Issuer LLC | ||
Series 2015-1A, Class A2II | ||
4.474%, due 10/25/45 (a) | 2,027,025 | 2,035,599 |
FirstKey Homes Trust (a) | ||
Series 2020-SFR1, Class A | ||
1.339%, due 8/17/37 | 3,653,261 | 3,368,162 |
Series 2021-SFR2, Class B | ||
1.607%, due 9/17/38 | 1,355,000 | 1,193,581 |
Series 2021-SFR1, Class B | ||
1.788%, due 8/17/38 | 2,345,000 | 2,113,283 |
Series 2021-SFR1, Class C | ||
1.888%, due 8/17/38 | 2,650,000 | 2,327,949 |
Home Partners of America Trust | ||
Series 2021-2, Class B | ||
2.302%, due 12/17/26 (a) | 1,745,254 | 1,592,640 |
Navient Private Education Refi Loan Trust (a) | ||
Series 2021-EA, Class B | ||
2.03%, due 12/16/69 | 2,450,000 | 2,076,276 |
Series 2020-GA, Class B | ||
2.50%, due 9/16/69 | 1,145,000 | 1,061,623 |
Series 2020-HA, Class B | ||
2.78%, due 1/15/69 | 500,000 | 464,872 |
Principal Amount | Value | |
Other Asset-Backed Securities (continued) | ||
New Economy Assets Phase 1 Sponsor LLC (a) | ||
Series 2021-1, Class A1 | ||
1.91%, due 10/20/61 | $ 1,260,000 | $ 1,130,547 |
Series 2021-1, Class B1 | ||
2.41%, due 10/20/61 | 1,215,000 | 1,099,489 |
Progress Residential | ||
Series 2021-SFR4, Class B | ||
1.808%, due 5/17/38 (a) | 1,340,000 | 1,203,882 |
Progress Residential Trust | ||
Series 2021-SFR2, Class B | ||
1.796%, due 4/19/38 (a) | 2,000,000 | 1,814,802 |
Taco Bell Funding LLC | ||
Series 2021-1A, Class A23 | ||
2.542%, due 8/25/51 (a) | 1,162,087 | 975,772 |
U.S. Airways Pass-Through Trust | ||
Series 2010-1, Class A | ||
6.25%, due 4/22/23 | 2,970,948 | 2,980,510 |
United Airlines Pass-Through Trust | ||
Series 2014-2, Class B | ||
4.625%, due 9/3/22 | 2,471,909 | 2,481,662 |
Series 2020-1, Class A | ||
5.875%, due 10/15/27 | 1,291,433 | 1,318,283 |
49,240,650 | ||
Total Asset-Backed Securities (Cost $93,592,004) | 87,262,113 | |
Corporate Bonds 40.1% | ||
Aerospace & Defense 0.2% | ||
Howmet Aerospace, Inc. | ||
3.00%, due 1/15/29 | 1,500,000 | 1,308,975 |
Agriculture 0.3% | ||
BAT Capital Corp. | ||
3.734%, due 9/25/40 | 1,330,000 | 993,847 |
BAT International Finance plc | ||
4.448%, due 3/16/28 | 1,050,000 | 1,010,943 |
2,004,790 | ||
Airlines 1.1% | ||
American Airlines, Inc. (a) | ||
5.50%, due 4/20/26 | 1,100,000 | 1,090,375 |
5.75%, due 4/20/29 | 2,450,000 | 2,360,759 |
Delta Air Lines, Inc. (a) | ||
4.50%, due 10/20/25 | 845,000 | 839,281 |
4.75%, due 10/20/28 | 1,680,000 | 1,660,407 |
12 | MainStay MacKay Strategic Bond Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Airlines (continued) | ||
Mileage Plus Holdings LLC | ||
6.50%, due 6/20/27 (a) | $ 1,520,000 | $ 1,550,369 |
7,501,191 | ||
Auto Manufacturers 2.1% | ||
Ford Motor Credit Co. LLC | ||
3.35%, due 11/1/22 | 1,115,000 | 1,115,346 |
4.063%, due 11/1/24 | 2,280,000 | 2,230,210 |
4.125%, due 8/17/27 | 1,770,000 | 1,640,878 |
4.25%, due 9/20/22 | 860,000 | 862,722 |
General Motors Financial Co., Inc. | ||
2.35%, due 1/8/31 | 708,000 | 571,990 |
2.70%, due 6/10/31 | 1,525,000 | 1,255,341 |
2.90%, due 2/26/25 (c) | 2,500,000 | 2,414,136 |
4.30%, due 4/6/29 | 1,090,000 | 1,039,604 |
Nissan Motor Acceptance Co. LLC | ||
1.85%, due 9/16/26 (a) | 3,610,000 | 3,129,065 |
14,259,292 | ||
Auto Parts & Equipment 0.3% | ||
Dana, Inc. | ||
4.50%, due 2/15/32 | 2,845,000 | 2,347,125 |
Banks 10.5% | ||
Banco Santander SA | ||
4.175% (1 Year Treasury Constant Maturity Rate + 2.00%), due 3/24/28 (b) | 2,400,000 | 2,328,337 |
Bank of America Corp. | ||
2.087%, due 6/14/29 (d) | 1,275,000 | 1,107,137 |
3.384%, due 4/2/26 (d) | 1,700,000 | 1,663,065 |
Series MM | ||
4.30%, due 1/28/25 (d)(e) | 2,021,000 | 1,827,085 |
Series DD | ||
6.30%, due 3/10/26 (c)(d)(e) | 3,570,000 | 3,650,325 |
8.57%, due 11/15/24 | 1,645,000 | 1,822,261 |
Barclays plc | ||
4.375% (5 Year Treasury Constant Maturity Rate + 3.41%), due 3/15/28 (b)(c)(e) | 2,535,000 | 2,113,556 |
BNP Paribas SA (a) | ||
3.052%, due 1/13/31 (d) | 1,650,000 | 1,451,864 |
4.625% (5 Year Treasury Constant Maturity Rate + 3.196%), due 1/12/27 (b)(e) | 1,315,000 | 1,189,470 |
Principal Amount | Value | |
Banks (continued) | ||
BNP Paribas SA (a) (continued) | ||
4.625% (5 Year Treasury Constant Maturity Rate + 3.34%), due 2/25/31 (b)(e) | $ 1,610,000 | $ 1,356,345 |
BPCE SA | ||
2.045%, due 10/19/27 (a)(d) | 990,000 | 885,496 |
Citigroup, Inc. (e) | ||
Series Y | ||
4.15% (5 Year Treasury Constant Maturity Rate + 3.00%), due 11/15/26 (b) | 1,590,000 | 1,406,514 |
Series M | ||
6.30%, due 5/15/24 (d) | 3,260,000 | 3,223,325 |
Citizens Financial Group, Inc. | ||
Series G | ||
4.00% (5 Year Treasury Constant Maturity Rate + 3.215%), due 10/6/26 (b)(e) | 1,095,000 | 971,813 |
Credit Agricole SA | ||
4.75% (5 Year Treasury Constant Maturity Rate + 3.237%), due 3/23/29 (a)(b)(e) | 2,205,000 | 1,899,056 |
Credit Suisse Group AG | ||
3.091%, due 5/14/32 (a)(d) | 1,485,000 | 1,241,916 |
Deutsche Bank AG | ||
3.035%, due 5/28/32 (d) | 460,000 | 383,762 |
4.875% (USISDA05 + 2.553%), due 12/1/32 (b) | 3,390,000 | 3,107,208 |
Freedom Mortgage Corp. | ||
7.625%, due 5/1/26 (a) | 1,955,000 | 1,779,050 |
Goldman Sachs Group, Inc. (The) | ||
1.948%, due 10/21/27 (d) | 2,830,000 | 2,541,534 |
2.107% (SOFR + 1.85%), due 3/15/28 (b) | 950,000 | 967,700 |
Series V | ||
4.125% (5 Year Treasury Constant Maturity Rate + 2.949%), due 11/10/26 (b)(c)(e) | 2,150,000 | 1,928,165 |
Intesa Sanpaolo SpA | ||
4.198% (1 Year Treasury Constant Maturity Rate + 2.60%), due 6/1/32 (a)(b) | 3,430,000 | 2,841,074 |
JPMorgan Chase & Co. (d) | ||
2.956%, due 5/13/31 | 835,000 | 733,950 |
Series HH | ||
4.60%, due 2/1/25 (e) | 1,327,000 | 1,226,546 |
Lloyds Banking Group plc | ||
4.582%, due 12/10/25 | 1,365,000 | 1,369,924 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Banks (continued) | ||
Lloyds Banking Group plc (continued) | ||
4.65%, due 3/24/26 | $ 1,985,000 | $ 1,995,156 |
Macquarie Group Ltd. | ||
2.871%, due 1/14/33 (a)(d) | 1,490,000 | 1,238,428 |
Morgan Stanley (d) | ||
2.484%, due 9/16/36 | 1,300,000 | 1,040,075 |
5.297%, due 4/20/37 | 660,000 | 660,122 |
NatWest Group plc (b) | ||
3.073% (1 Year Treasury Constant Maturity Rate + 2.55%), due 5/22/28 | 2,145,000 | 1,987,773 |
4.60% (5 Year Treasury Constant Maturity Rate + 3.10%), due 6/28/31 (e) | 2,650,000 | 2,219,975 |
Popular, Inc. | ||
6.125%, due 9/14/23 | 1,582,000 | 1,619,921 |
Santander Holdings USA, Inc. | ||
3.40%, due 1/18/23 | 1,500,000 | 1,504,134 |
Societe Generale SA (a)(b)(e) | ||
4.75% (5 Year Treasury Constant Maturity Rate + 3.931%), due 5/26/26 (c) | 2,130,000 | 1,888,532 |
5.375% (5 Year Treasury Constant Maturity Rate + 4.514%), due 11/18/30 | 2,015,000 | 1,769,170 |
Standard Chartered plc | ||
4.75% (5 Year Treasury Constant Maturity Rate + 3.805%), due 1/14/31 (a)(b)(c)(e) | 2,770,000 | 2,375,275 |
SVB Financial Group | ||
Series C | ||
4.00% (5 Year Treasury Constant Maturity Rate + 3.202%), due 5/15/26 (b)(e) | 1,385,000 | 1,204,535 |
Texas Capital Bancshares, Inc. | ||
4.00% (5 Year Treasury Constant Maturity Rate + 3.15%), due 5/6/31 (b) | 1,770,000 | 1,695,882 |
UBS Group AG | ||
4.375% (5 Year Treasury Constant Maturity Rate + 3.313%), due 2/10/31 (a)(b)(e) | 2,555,000 | 2,132,659 |
Wells Fargo & Co. (d) | ||
3.584%, due 5/22/28 | 380,000 | 364,221 |
Series S | ||
5.90%, due 6/15/24 (e) | 3,295,000 | 3,224,981 |
Principal Amount | Value | |
Banks (continued) | ||
Westpac Banking Corp. | ||
3.02% (5 Year Treasury Constant Maturity Rate + 1.53%), due 11/18/36 (b) | $ 1,337,000 | $ 1,107,934 |
73,045,251 | ||
Chemicals 0.6% | ||
Alpek SAB de CV | ||
3.25%, due 2/25/31 (a) | 825,000 | 699,188 |
Braskem Netherlands Finance BV | ||
4.50%, due 1/10/28 (a) | 1,250,000 | 1,177,262 |
Orbia Advance Corp. SAB de CV | ||
4.00%, due 10/4/27 (a) | 2,600,000 | 2,477,488 |
4,353,938 | ||
Commercial Services 0.8% | ||
Allied Universal Holdco LLC | ||
6.625%, due 7/15/26 (a) | 2,130,000 | 2,058,517 |
Ashtead Capital, Inc. | ||
4.25%, due 11/1/29 (a) | 2,060,000 | 1,967,801 |
California Institute of Technology | ||
3.65%, due 9/1/19 | 1,118,000 | 861,706 |
Hertz Corp. (The) | ||
5.00%, due 12/1/29 (a) | 1,010,000 | 883,750 |
5,771,774 | ||
Computers 0.5% | ||
Dell International LLC | ||
8.10%, due 7/15/36 | 564,000 | 689,965 |
NCR Corp. (a) | ||
5.00%, due 10/1/28 | 2,339,000 | 2,233,745 |
6.125%, due 9/1/29 | 717,000 | 686,527 |
3,610,237 | ||
Diversified Financial Services 3.5% | ||
AerCap Ireland Capital DAC | ||
3.00%, due 10/29/28 | 1,650,000 | 1,434,083 |
Air Lease Corp. | ||
2.30%, due 2/1/25 | 3,275,000 | 3,112,840 |
3.25%, due 3/1/25 | 4,000,000 | 3,865,674 |
Aircastle Ltd. | ||
5.25% (5 Year Treasury Constant Maturity Rate + 4.41%), due 6/15/26 (a)(b)(e) | 2,030,000 | 1,806,986 |
Ally Financial, Inc. | ||
Series C | ||
4.70% (7 Year Treasury Constant Maturity Rate + 3.481%), due 5/15/28 (b)(e) | 980,000 | 843,594 |
14 | MainStay MacKay Strategic Bond Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Diversified Financial Services (continued) | ||
Ally Financial, Inc. (continued) | ||
5.75%, due 11/20/25 | $ 3,820,000 | $ 3,924,305 |
8.00%, due 11/1/31 | 1,210,000 | 1,439,434 |
Avolon Holdings Funding Ltd. | ||
3.25%, due 2/15/27 (a) | 2,125,000 | 1,926,750 |
Banco BTG Pactual SA | ||
2.75%, due 1/11/26 (a) | 3,450,000 | 3,143,813 |
OneMain Finance Corp. | ||
3.50%, due 1/15/27 | 2,935,000 | 2,578,456 |
24,075,935 | ||
Electric 2.2% | ||
Calpine Corp. | ||
5.125%, due 3/15/28 (a) | 2,505,000 | 2,275,479 |
Dominion Energy, Inc. | ||
Series C | ||
4.35% (5 Year Treasury Constant Maturity Rate + 3.195%), due 1/15/27 (b)(c)(e) | 780,000 | 712,374 |
Edison International | ||
Series B | ||
5.00% (5 Year Treasury Constant Maturity Rate + 3.901%), due 12/15/26 (b)(e) | 2,690,000 | 2,434,782 |
Ohio Power Co. | ||
Series R | ||
2.90%, due 10/1/51 | 955,000 | 702,637 |
Pacific Gas and Electric Co. | ||
3.50%, due 8/1/50 | 1,855,000 | 1,293,161 |
Potomac Electric Power Co. | ||
4.15%, due 3/15/43 | 1,305,000 | 1,238,629 |
Sempra Energy | ||
4.125% (5 Year Treasury Constant Maturity Rate + 2.868%), due 4/1/52 (b) | 2,150,000 | 1,889,424 |
WEC Energy Group, Inc. | ||
2.619% (3 Month LIBOR + 2.113%), due 5/15/67 (b) | 5,495,000 | 4,702,127 |
15,248,613 | ||
Environmental Control 0.0% ‡ | ||
Stericycle, Inc. | ||
3.875%, due 1/15/29 (a) | 215,000 | 189,598 |
Food 0.5% | ||
Kraft Heinz Foods Co. | ||
5.00%, due 7/15/35 | 583,000 | 579,816 |
Principal Amount | Value | |
Food (continued) | ||
Smithfield Foods, Inc. | ||
3.00%, due 10/15/30 (a) | $ 1,520,000 | $ 1,317,455 |
U.S. Foods, Inc. | ||
4.625%, due 6/1/30 (a) | 1,710,000 | 1,530,450 |
3,427,721 | ||
Gas 0.3% | ||
National Fuel Gas Co. | ||
2.95%, due 3/1/31 | 810,000 | 692,363 |
Southern Co. Gas Capital Corp. | ||
Series 21A | ||
3.15%, due 9/30/51 | 1,500,000 | 1,118,154 |
1,810,517 | ||
Healthcare-Services 0.2% | ||
NYU Langone Hospitals | ||
Series 2020 | ||
3.38%, due 7/1/55 | 1,635,000 | 1,267,949 |
Home Builders 0.3% | ||
Thor Industries, Inc. | ||
4.00%, due 10/15/29 (a) | 1,230,000 | 1,039,485 |
Toll Brothers Finance Corp. | ||
3.80%, due 11/1/29 | 495,000 | 449,280 |
4.35%, due 2/15/28 | 303,000 | 288,961 |
1,777,726 | ||
Household Products & Wares 0.4% | ||
Kronos Acquisition Holdings, Inc. | ||
5.00%, due 12/31/26 (a) | 2,770,000 | 2,451,450 |
Insurance 1.3% | ||
Athene Global Funding | ||
2.50%, due 3/24/28 (a) | 1,900,000 | 1,684,144 |
Lincoln National Corp. | ||
2.826% (3 Month LIBOR + 2.358%), due 5/17/66 (b) | 3,537,000 | 2,979,922 |
NMI Holdings, Inc. | ||
7.375%, due 6/1/25 (a) | 685,000 | 714,113 |
Protective Life Corp. | ||
8.45%, due 10/15/39 | 2,476,000 | 3,231,257 |
Willis North America, Inc. | ||
3.875%, due 9/15/49 | 425,000 | 353,308 |
8,962,744 | ||
Internet 0.8% | ||
Expedia Group, Inc. | ||
3.25%, due 2/15/30 | 3,920,000 | 3,496,766 |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Internet (continued) | ||
Match Group Holdings II LLC (a) | ||
3.625%, due 10/1/31 (c) | $ 2,520,000 | $ 2,096,388 |
4.125%, due 8/1/30 | 122,000 | 109,038 |
5,702,192 | ||
Iron & Steel 0.3% | ||
Vale Overseas Ltd. | ||
6.25%, due 8/10/26 | 1,980,000 | 2,081,970 |
Lodging 1.6% | ||
Hilton Domestic Operating Co., Inc. | ||
4.875%, due 1/15/30 | 1,930,000 | 1,861,871 |
5.375%, due 5/1/25 (a) | 935,000 | 953,990 |
Hyatt Hotels Corp. | ||
1.80%, due 10/1/24 | 3,920,000 | 3,726,659 |
Marriott International, Inc. | ||
3.75%, due 10/1/25 | 4,253,000 | 4,223,724 |
Series X | ||
4.00%, due 4/15/28 | 605,000 | 586,820 |
11,353,064 | ||
Machinery-Diversified 0.2% | ||
Clark Equipment Co. | ||
5.875%, due 6/1/25 (a) | 1,225,000 | 1,240,509 |
Media 0.7% | ||
CCO Holdings LLC | ||
5.375%, due 6/1/29 (a) | 420,000 | 397,950 |
DISH DBS Corp. | ||
5.75%, due 12/1/28 (a) | 2,200,000 | 1,967,856 |
Grupo Televisa SAB | ||
5.25%, due 5/24/49 | 1,695,000 | 1,713,815 |
Time Warner Entertainment Co. LP | ||
8.375%, due 3/15/23 | 1,087,000 | 1,135,655 |
5,215,276 | ||
Mining 0.3% | ||
Industrias Penoles SAB de CV | ||
4.75%, due 8/6/50 (a) | 2,627,000 | 2,213,247 |
Miscellaneous—Manufacturing 0.3% | ||
Textron Financial Corp. | ||
2.241% (3 Month LIBOR + 1.735%), due 2/15/42 (a)(b)(c) | 2,905,000 | 2,429,190 |
Principal Amount | Value | |
Oil & Gas 0.2% | ||
Gazprom PJSC Via Gaz Capital SA | ||
7.288%, due 8/16/37 (a)(f) | $ 2,520,000 | $ 655,200 |
Occidental Petroleum Corp. | ||
4.30%, due 8/15/39 | 400,000 | 339,740 |
Petrobras Global Finance BV | ||
5.50%, due 6/10/51 | 810,000 | 664,702 |
1,659,642 | ||
Packaging & Containers 0.3% | ||
Berry Global, Inc. | ||
4.875%, due 7/15/26 (a) | 135,000 | 134,170 |
Owens-Brockway Glass Container, Inc. | ||
6.625%, due 5/13/27 (a) | 1,740,000 | 1,713,900 |
1,848,070 | ||
Pharmaceuticals 0.5% | ||
Teva Pharmaceutical Finance Netherlands III BV | ||
3.15%, due 10/1/26 | 2,146,000 | 1,840,238 |
4.75%, due 5/9/27 | 1,915,000 | 1,752,225 |
3,592,463 | ||
Pipelines 4.0% | ||
Cheniere Corpus Christi Holdings LLC | ||
2.742%, due 12/31/39 | 1,240,000 | 1,009,209 |
CNX Midstream Partners LP | ||
4.75%, due 4/15/30 (a) | 2,570,000 | 2,364,400 |
DCP Midstream Operating LP | ||
3.25%, due 2/15/32 | 3,090,000 | 2,620,351 |
DT Midstream, Inc. | ||
4.30%, due 4/15/32 (a) | 1,290,000 | 1,224,055 |
Energy Transfer LP | ||
Series H | ||
6.50% (5 Year Treasury Constant Maturity Rate + 5.694%), due 11/15/26 (b)(e) | 2,090,000 | 1,985,730 |
Enterprise Products Operating LLC | ||
3.95%, due 1/31/60 | 1,630,000 | 1,320,836 |
4.20%, due 1/31/50 | 520,000 | 455,785 |
Flex Intermediate Holdco LLC | ||
3.363%, due 6/30/31 (a) | 1,540,000 | 1,352,283 |
Hess Midstream Operations LP (a) | ||
4.25%, due 2/15/30 | 2,630,000 | 2,412,473 |
5.625%, due 2/15/26 | 367,000 | 367,000 |
Holly Energy Partners LP | ||
6.375%, due 4/15/27 (a) | 755,000 | 770,100 |
Kinder Morgan, Inc. | ||
7.75%, due 1/15/32 (c) | 2,035,000 | 2,473,739 |
16 | MainStay MacKay Strategic Bond Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Pipelines (continued) | ||
MPLX LP | ||
4.00%, due 3/15/28 | $ 560,000 | $ 542,927 |
Plains All American Pipeline LP | ||
3.80%, due 9/15/30 | 1,040,000 | 962,635 |
Sabine Pass Liquefaction LLC | ||
5.75%, due 5/15/24 | 2,146,000 | 2,220,424 |
Targa Resources Corp. | ||
4.20%, due 2/1/33 | 725,000 | 687,130 |
Venture Global Calcasieu Pass LLC | ||
3.875%, due 11/1/33 (a) | 2,580,000 | 2,244,729 |
Western Midstream Operating LP | ||
5.75%, due 2/1/50 (g) | 1,800,000 | 1,586,088 |
Williams Cos., Inc. (The) | ||
3.50%, due 10/15/51 | 1,425,000 | 1,092,372 |
27,692,266 | ||
Real Estate 0.1% | ||
Realogy Group LLC | ||
5.25%, due 4/15/30 (a) | 1,060,000 | 858,801 |
Real Estate Investment Trusts 1.2% | ||
GLP Capital LP | ||
3.35%, due 9/1/24 | 1,535,000 | 1,510,370 |
Iron Mountain, Inc. | ||
4.875%, due 9/15/29 (a) | 2,641,000 | 2,419,275 |
Office Properties Income Trust | ||
2.65%, due 6/15/26 | 1,520,000 | 1,361,095 |
Starwood Property Trust, Inc. | ||
3.625%, due 7/15/26 (a) | 3,172,000 | 2,894,450 |
8,185,190 | ||
Retail 1.9% | ||
AutoNation, Inc. | ||
4.75%, due 6/1/30 | 2,300,000 | 2,265,129 |
Darden Restaurants, Inc. | ||
3.85%, due 5/1/27 (c) | 3,512,000 | 3,455,692 |
Nordstrom, Inc. (c) | ||
4.00%, due 3/15/27 | 595,000 | 551,412 |
4.25%, due 8/1/31 | 2,860,000 | 2,424,097 |
QVC, Inc. | ||
4.375%, due 9/1/28 | 2,815,000 | 2,391,934 |
Victoria's Secret & Co. | ||
4.625%, due 7/15/29 (a) | 2,775,000 | 2,276,499 |
13,364,763 |
Principal Amount | Value | |
Semiconductors 0.5% | ||
Broadcom, Inc. (a) | ||
3.469%, due 4/15/34 | $ 2,040,000 | $ 1,731,535 |
3.75%, due 2/15/51 | 620,000 | 474,882 |
NXP BV | ||
3.40%, due 5/1/30 (a) | 1,135,000 | 1,034,071 |
3,240,488 | ||
Software 0.4% | ||
MSCI, Inc. | ||
3.25%, due 8/15/33 (a) | 2,710,000 | 2,289,950 |
Oracle Corp. | ||
3.65%, due 3/25/41 | 450,000 | 348,512 |
2,638,462 | ||
Telecommunications 1.7% | ||
Altice France SA | ||
5.125%, due 7/15/29 (a) | 2,405,000 | 2,035,977 |
AT&T, Inc. | ||
3.65%, due 6/1/51 | 1,485,000 | 1,203,508 |
Sprint Corp. | ||
7.875%, due 9/15/23 | 3,620,000 | 3,801,000 |
T-Mobile US, Inc. | ||
2.625%, due 2/15/29 | 1,790,000 | 1,547,383 |
3.50%, due 4/15/31 (a) | 885,000 | 784,402 |
VEON Holdings BV | ||
4.95%, due 6/16/24 (a) | 1,681,000 | 1,126,270 |
Verizon Communications, Inc. | ||
4.016%, due 12/3/29 | 1,495,000 | 1,462,590 |
11,961,130 | ||
Total Corporate Bonds (Cost $309,110,679) | 278,691,549 | |
Foreign Government Bonds 2.7% | ||
Brazil 0.4% | ||
Brazil Government Bond | ||
3.75%, due 9/12/31 (c) | 1,770,000 | 1,527,510 |
Federative Republic of Brazil | ||
4.625%, due 1/13/28 | 1,254,000 | 1,221,032 |
2,748,542 | ||
Chile 0.5% | ||
Chile Government Bond | ||
2.55%, due 7/27/33 | 1,915,000 | 1,596,267 |
Empresa Nacional del Petroleo | ||
3.45%, due 9/16/31 (a) | 2,540,000 | 2,146,300 |
3,742,567 |
Principal Amount | Value | |
Foreign Government Bonds (continued) | ||
Colombia 0.2% | ||
Colombia Government Bond | ||
3.25%, due 4/22/32 | $ 1,365,000 | $ 1,042,683 |
4.50%, due 1/28/26 | 500,000 | 478,805 |
1,521,488 | ||
Mexico 1.6% | ||
Comision Federal de Electricidad (a) | ||
3.875%, due 7/26/33 | 2,385,000 | 1,914,712 |
4.677%, due 2/9/51 | 1,855,000 | 1,317,050 |
Mexico Government Bond | ||
2.659%, due 5/24/31 | 817,000 | 684,581 |
3.75%, due 4/19/71 (c) | 1,480,000 | 1,016,760 |
Petroleos Mexicanos | ||
6.50%, due 3/13/27 | 2,535,000 | 2,421,660 |
6.75%, due 9/21/47 | 4,835,000 | 3,493,771 |
10,848,534 | ||
Total Foreign Government Bonds (Cost $23,428,902) | 18,861,131 | |
Loan Assignments 3.5% | ||
Containers, Packaging & Glass 0.6% | ||
Mauser Packaging Solutions Holding Co. | ||
Initial Term Loan | ||
3.705% (1 Month LIBOR + 3.25%), due 4/3/24 (b) | 4,535,946 | 4,443,812 |
Diversified/Conglomerate Service 0.7% | ||
Change Healthcare Holdings, Inc. | ||
Closing Date Term Loan | ||
3.50% (1 Month LIBOR + 2.50%), due 3/1/24 (b) | 3,563,368 | 3,554,459 |
TruGreen LP (b) | ||
First Lien Second Refinancing Term Loan | ||
4.764% (1 Month LIBOR + 4.00%), due 11/2/27 | 1,031,937 | 1,026,456 |
Second Lien Initial Term Loan | ||
9.264% (1 Month LIBOR + 8.50%), due 11/2/28 | 450,000 | 451,125 |
5,032,040 | ||
Entertainment 0.4% | ||
Fertitta Entertainment LLC | ||
Initial Term Loan B | ||
4.70% (1 Month LIBOR + 4.00%), due 1/27/29 (b) | 3,000,000 | 2,983,635 |
Principal Amount | Value | |
Finance 0.5% | ||
Alliant Holdings Intermediate LLC | ||
2018 Initial Term Loan | ||
4.014% (1 Month LIBOR + 3.25%), due 5/9/25 (b) | $ 3,586,835 | $ 3,550,519 |
Personal, Food & Miscellaneous Services 0.2% | ||
1011778 B.C. Unlimited Liability Co. | ||
Term Loan B4 | ||
2.514% (1 Month LIBOR + 1.75%), due 11/19/26 (b) | 1,374,884 | 1,346,813 |
Telecommunications 0.9% | ||
Level 3 Financing, Inc. | ||
Tranche 2027 Term Loan B | ||
2.514% (1 Month LIBOR + 1.75%), due 3/1/27 (b) | 2,698,623 | 2,604,845 |
SBA Senior Finance II LLC | ||
Initial Term Loan | ||
2.52% (1 Month LIBOR + 1.75%), due 4/11/25 (b) | 3,419,448 | 3,359,608 |
5,964,453 | ||
Utilities 0.2% | ||
Southwestern Energy Co. | ||
Initial Term Loan | ||
3.301% (3 Month LIBOR + 2.50%), due 6/22/27 (b) | 1,321,688 | 1,318,383 |
Total Loan Assignments (Cost $24,915,176) | 24,639,655 | |
Mortgage-Backed Securities 25.8% | ||
Agency (Collateralized Mortgage Obligations) 3.7% | ||
FHLMC (h) | ||
REMIC, Series 5070, Class IG | ||
1.50%, due 1/25/44 | 5,928,329 | 348,251 |
REMIC, Series 5048, Class IC | ||
2.00%, due 12/25/50 | 6,602,677 | 743,234 |
REMIC, Series 5149, Class LI | ||
2.50%, due 10/25/51 | 4,236,167 | 587,327 |
REMIC, Series 5205, Class KI | ||
3.00%, due 12/25/48 | 2,039,622 | 243,508 |
REMIC, Series 5152, Class BI | ||
3.00%, due 7/25/50 | 3,140,443 | 463,900 |
REMIC, Series 5023, Class LI | ||
3.00%, due 10/25/50 | 1,466,251 | 238,899 |
REMIC, Series 5094, Class IP | ||
3.00%, due 4/25/51 | 1,417,134 | 216,153 |
18 | MainStay MacKay Strategic Bond Fund |
Principal Amount | Value | |
Mortgage-Backed Securities (continued) | ||
Agency (Collateralized Mortgage Obligations) (continued) | ||
FHLMC (h) (continued) | ||
REMIC, Series 5176, Class PI | ||
3.00%, due 7/25/51 | $ 1,319,252 | $ 174,024 |
REMIC, Series 5160, Class IO | ||
3.00%, due 10/25/51 | 1,164,871 | 135,068 |
REMIC, Series 5155, Class KI | ||
3.00%, due 10/25/51 | 2,790,559 | 400,183 |
REMIC, Series 5036, Class IO | ||
3.50%, due 11/25/50 | 3,490,957 | 715,970 |
REMIC, Series 4924, Class NS | ||
5.382% (1 Month LIBOR + 6.05%), due 10/25/49 (b) | 2,333,630 | 347,090 |
REMIC, Series 4957, Class SB | ||
5.382% (1 Month LIBOR + 6.05%), due 11/25/49 (b) | 1,360,257 | 222,507 |
FHLMC, Strips | ||
Series 358, Class PO | ||
(zero coupon), due 10/15/47 | 3,046,870 | 2,596,054 |
Series 377, Class C4 | ||
2.00%, due 1/25/51 (h) | 1,344,101 | 172,336 |
Series 380, Class C1 | ||
3.00%, due 1/25/50 (h) | 3,261,192 | 539,032 |
FNMA | ||
REMIC, Series 2013-110, Class CO | ||
(zero coupon), due 12/25/39 | 1,313,583 | 1,146,672 |
REMIC, Series 2013-105, Class QO | ||
(zero coupon), due 5/25/40 | 369,512 | 320,799 |
REMIC, Series 2013-105, Class KO | ||
(zero coupon), due 10/25/43 | 394,190 | 356,864 |
REMIC, Series 2013-110, Class DO | ||
(zero coupon), due 11/25/43 | 613,735 | 531,435 |
REMIC, Series 2022-3, Class YS | ||
2.261% (SOFR 30A + 2.55%), due 2/25/52 (b)(h) | 8,675,000 | 317,384 |
REMIC, Series 2021-7, Class EI | ||
2.50%, due 2/25/51 (h) | 2,744,430 | 375,365 |
REMIC, Series 2021-13, Class BI | ||
3.00%, due 2/25/50 (h) | 1,950,488 | 311,569 |
REMIC, Series 2020-71, Class TI | ||
3.00%, due 10/25/50 (h) | 1,569,523 | 241,338 |
REMIC, Series 2021-85, Class BI | ||
3.00%, due 12/25/51 (h) | 3,836,931 | 577,571 |
REMIC, Series 2020-10, Class DA | ||
3.50%, due 3/25/60 | 1,930,648 | 1,910,035 |
REMIC, Series 2019-32, Class SB | ||
5.382% (1 Month LIBOR + 6.05%), due 6/25/49 (b)(h) | 2,285,734 | 300,878 |
Principal Amount | Value | |
Agency (Collateralized Mortgage Obligations) (continued) | ||
GNMA | ||
Series 2020-115, Class YA | ||
1.00%, due 8/20/50 | $ 1,715,427 | $ 1,430,037 |
Series 2020-129, Class AG | ||
1.00%, due 9/20/50 | 2,379,376 | 2,009,404 |
Series 2020-166, Class CA | ||
1.00%, due 11/20/50 | 3,164,302 | 2,525,890 |
Series 2021-214, Class SA | ||
1.41% (SOFR 30A + 1.70%), due 12/20/51 (b)(h) | 12,969,496 | 151,572 |
Series 2021-213, Class ES | ||
1.41% (SOFR 30A + 1.70%), due 12/20/51 (b)(h) | 12,886,538 | 131,042 |
Series 2020-146, Class LI | ||
2.00%, due 10/20/50 (h) | 3,751,440 | 402,217 |
Series 2020-166, Class IC | ||
2.00%, due 11/20/50 (h) | 1,582,151 | 187,907 |
Series 2020-188, Class IO | ||
2.00%, due 12/20/50 (h) | 3,339,795 | 351,173 |
Series 2021-57, Class AI | ||
2.00%, due 2/20/51 (h) | 4,743,176 | 562,207 |
Series 2021-77, Class KS | ||
2.31% (SOFR 30A + 2.60%), due 5/20/51 (b)(h) | 9,930,786 | 318,062 |
Series 2021-57, Class IB | ||
2.50%, due 2/20/51 (h) | 3,033,020 | 437,941 |
Series 2021-25, Class LI | ||
2.50%, due 2/20/51 (h) | 2,694,939 | 354,861 |
Series 2021-149, Class CI | ||
2.50%, due 8/20/51 (h) | 3,558,442 | 522,027 |
Series 2021-162, Class KI | ||
2.50%, due 9/20/51 (h) | 2,881,410 | 415,897 |
Series 2021-158, Class NI | ||
3.00%, due 9/20/51 (h) | 5,093,802 | 858,258 |
Series 2021-177, Class IM | ||
3.00%, due 10/20/51 (h) | 3,201,930 | 490,164 |
25,682,105 | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) 11.4% | ||
BAMLL Commercial Mortgage Securities Trust (a)(b) | ||
Series 2022-DKLX, Class E | ||
4.636% (1 Month SOFR + 4.127%), due 1/15/39 | 1,095,000 | 1,057,843 |
Series 2022-DKLX, Class F | ||
5.466% (1 Month SOFR + 4.957%), due 1/15/39 | 1,250,000 | 1,207,860 |
Principal Amount | Value | |
Mortgage-Backed Securities (continued) | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) (continued) | ||
Bayview Commercial Asset Trust (a)(b) | ||
Series 2006-4A, Class A1 | ||
1.013% (1 Month LIBOR + 0.345%), due 12/25/36 | $ 10,066 | $ 9,583 |
Series 2005-3A, Class A1 | ||
1.148% (1 Month LIBOR + 0.48%), due 11/25/35 | 801,560 | 750,587 |
BOCA Commercial Mortgage Trust | ||
Series 2022-BOCA, Class A | ||
2.27% (1 Month SOFR + 1.77%), due 5/15/39 (a)(b)(i) | 1,485,000 | 1,481,113 |
BX Commercial Mortgage Trust (a) | ||
Series 2021-XL2, Class A | ||
1.243% (1 Month LIBOR + 0.689%), due 10/15/38 (b) | 1,160,837 | 1,131,071 |
Series 2021-VOLT, Class D | ||
2.204% (1 Month LIBOR + 1.65%), due 9/15/36 (b) | 2,165,000 | 2,096,467 |
Series 2021-VOLT, Class E | ||
2.554% (1 Month LIBOR + 2.00%), due 9/15/36 (b) | 2,125,000 | 2,044,070 |
Series 2021-ACNT, Class E | ||
2.752% (1 Month LIBOR + 2.197%), due 11/15/38 (b) | 2,500,000 | 2,423,802 |
Series 2020-VIV2, Class C | ||
3.66%, due 3/9/44 (j) | 1,705,000 | 1,510,320 |
Series 2020-VIV3, Class B | ||
3.662%, due 3/9/44 (j) | 925,000 | 845,948 |
Series 2020-VIVA, Class D | ||
3.667%, due 3/11/44 (j) | 1,000,000 | 863,174 |
BX Trust (a) | ||
Series 2021-LBA, Class AJV | ||
1.355% (1 Month LIBOR + 0.80%), due 2/15/36 (b) | 1,725,000 | 1,682,415 |
Series 2021-MFM1, Class C | ||
1.754% (1 Month LIBOR + 1.20%), due 1/15/34 (b) | 2,695,000 | 2,611,555 |
Series 2021-MFM1, Class D | ||
2.054% (1 Month LIBOR + 1.50%), due 1/15/34 (b) | 1,815,000 | 1,753,040 |
Series 2021-LBA, Class DV | ||
2.155% (1 Month LIBOR + 1.60%), due 2/15/36 (b) | 1,270,000 | 1,224,830 |
Series 2021-RISE, Class D | ||
2.304% (1 Month LIBOR + 1.75%), due 11/15/36 (b) | 1,850,000 | 1,796,196 |
Principal Amount | Value | |
Commercial Mortgage Loans (Collateralized Mortgage Obligations) (continued) | ||
BX Trust (a) (continued) | ||
Series 2021-ARIA, Class E | ||
2.798% (1 Month LIBOR + 2.245%), due 10/15/36 (b) | $ 2,700,000 | $ 2,622,125 |
Series 2019-OC11, Class B | ||
3.605%, due 12/9/41 | 205,000 | 190,331 |
Series 2019-OC11, Class C | ||
3.856%, due 12/9/41 | 1,145,000 | 1,045,258 |
Series 2019-OC11, Class D | ||
4.075%, due 12/9/41 (j) | 1,020,000 | 911,183 |
Series 2019-OC11, Class E | ||
4.075%, due 12/9/41 (j) | 3,995,000 | 3,412,107 |
BXHPP Trust (a)(b) | ||
Series 2021-FILM, Class C | ||
1.654% (1 Month LIBOR + 1.10%), due 8/15/36 | 1,090,000 | 1,040,962 |
Series 2021-FILM, Class D | ||
2.054% (1 Month LIBOR + 1.50%), due 8/15/36 | 585,000 | 558,718 |
BXSC Commercial Mortgage Trust | ||
Series 2022-WSS, Class D | ||
3.697% (1 Month SOFR + 3.188%), due 3/15/35 (a)(b) | 1,150,000 | 1,139,860 |
Citigroup Commercial Mortgage Trust | ||
Series 2015-GC27, Class AS | ||
3.571%, due 2/10/48 | 840,000 | 822,942 |
Commercial Mortgage Trust | ||
Series 2012-CR4, Class AM | ||
3.251%, due 10/15/45 | 1,815,000 | 1,805,304 |
Series 2013-CR9, Class B | ||
4.436%, due 7/10/45 (a)(j) | 1,020,000 | 989,608 |
CSMC WEST Trust | ||
Series 2020-WEST, Class A | ||
3.04%, due 2/15/35 (a) | 1,925,000 | 1,735,440 |
DROP Mortgage Trust | ||
Series 2021-FILE, Class A | ||
1.70% (1 Month LIBOR + 1.15%), due 4/15/26 (a)(b) | 1,430,000 | 1,407,327 |
Extended Stay America Trust | ||
Series 2021-ESH, Class D | ||
2.805% (1 Month LIBOR + 2.25%), due 7/15/38 (a)(b) | 2,946,864 | 2,893,664 |
FREMF Mortgage Trust (a)(j) | ||
Series 2017-K63, Class C | ||
4.008%, due 2/25/50 | 1,275,000 | 1,229,483 |
Series 2018-K154, Class B | ||
4.16%, due 11/25/32 | 1,750,000 | 1,619,203 |
20 | MainStay MacKay Strategic Bond Fund |
Principal Amount | Value | |
Mortgage-Backed Securities (continued) | ||
Commercial Mortgage Loans (Collateralized Mortgage Obligations) (continued) | ||
FREMF Mortgage Trust (a)(j) (continued) | ||
Series 2018-K155, Class B | ||
4.307%, due 4/25/33 | $ 2,135,000 | $ 2,007,044 |
Series 2018-K81, Class C | ||
4.314%, due 9/25/51 | 1,385,000 | 1,346,083 |
Series 2019-K87, Class C | ||
4.471%, due 1/25/51 | 950,000 | 928,050 |
Series 2019-K88, Class C | ||
4.528%, due 2/25/52 | 1,505,000 | 1,472,664 |
GS Mortgage Securities Corp. Trust | ||
Series 2019-BOCA, Class A | ||
1.754% (1 Month LIBOR + 1.20%), due 6/15/38 (a)(b) | 3,610,000 | 3,602,708 |
Hudson Yards Mortgage Trust | ||
Series 2019-30HY, Class A | ||
3.228%, due 7/10/39 (a) | 1,280,000 | 1,206,376 |
J.P. Morgan Chase Commercial Mortgage Securities Trust | ||
Series 2018-AON, Class B | ||
4.379%, due 7/5/31 (a) | 2,060,000 | 2,048,897 |
Manhattan West Mortgage Trust | ||
Series 2020-1MW, Class A | ||
2.13%, due 9/10/39 (a) | 1,260,000 | 1,139,795 |
One Bryant Park Trust | ||
Series 2019-OBP, Class A | ||
2.516%, due 9/15/54 (a) | 3,300,000 | 2,953,233 |
SLG Office Trust | ||
Series 2021-OVA, Class D | ||
2.851%, due 7/15/41 (a) | 1,100,000 | 923,749 |
SMRT | ||
Series 2022-MINI, Class D | ||
2.472% (1 Month SOFR + 1.95%), due 1/15/39 (a)(b) | 2,650,000 | 2,586,842 |
UBS-Barclays Commercial Mortgage Trust | ||
Series 2013-C6, Class B | ||
3.875%, due 4/10/46 (a)(k) | 1,365,000 | 1,341,837 |
Wells Fargo Commercial Mortgage Trust (a)(j) | ||
Series 2018-1745, Class A | ||
3.874%, due 6/15/36 | 2,430,000 | 2,325,988 |
Series 2018-AUS, Class A | ||
4.194%, due 8/17/36 | 4,410,000 | 4,351,987 |
WFRBS Commercial Mortgage Trust | ||
Series 2014-C21, Class AS | ||
3.891%, due 8/15/47 | 1,805,000 | 1,785,826 |
Series 2012-C7, Class AS | ||
4.09%, due 6/15/45 (k) | 1,540,000 | 1,537,178 |
79,471,646 |
Principal Amount | Value | |
Whole Loan (Collateralized Mortgage Obligations) 10.7% | ||
Alternative Loan Trust | ||
Series 2005-31, Class 1A1 | ||
1.228% (1 Month LIBOR + 0.56%), due 8/25/35 (b) | $ 2,043,798 | $ 1,914,378 |
Banc of America Alternative Loan Trust | ||
Series 2005-11, Class 2CB1 | ||
6.00%, due 12/25/35 | 24,072 | 22,497 |
Connecticut Avenue Securities Trust (a)(b) | ||
Series 2020-R02, Class 2M2 | ||
2.668% (1 Month LIBOR + 2.00%), due 1/25/40 | 1,248,664 | 1,247,385 |
Series 2021-R01, Class 1B1 | ||
3.389% (SOFR 30A + 3.10%), due 10/25/41 | 3,360,000 | 3,147,700 |
Series 2020-SBT1, Class 1M2 | ||
4.318% (1 Month LIBOR + 3.65%), due 2/25/40 | 1,270,000 | 1,257,413 |
FHLMC STACR REMIC Trust (a)(b) | ||
Series 2020-DNA6, Class M2 | ||
2.289% (SOFR 30A + 2.00%), due 12/25/50 | 3,395,000 | 3,372,273 |
Series 2021-HQA3, Class M2 | ||
2.389% (SOFR 30A + 2.10%), due 9/25/41 | 2,280,000 | 2,171,253 |
Series 2021-HQA1, Class M2 | ||
2.539% (SOFR 30A + 2.25%), due 8/25/33 | 840,000 | 824,279 |
Series 2020-HQA1, Class B1 | ||
3.018% (1 Month LIBOR + 2.35%), due 1/25/50 | 1,815,000 | 1,728,461 |
Series 2020-DNA2, Class B1 | ||
3.168% (1 Month LIBOR + 2.50%), due 2/25/50 | 1,835,000 | 1,750,783 |
Series 2021-HQA1, Class B1 | ||
3.289% (SOFR 30A + 3.00%), due 8/25/33 | 1,075,000 | 956,783 |
Series 2021-DNA5, Class B1 | ||
3.339% (SOFR 30A + 3.05%), due 1/25/34 | 2,610,000 | 2,466,243 |
Series 2021-HQA3, Class B1 | ||
3.639% (SOFR 30A + 3.35%), due 9/25/41 | 3,865,000 | 3,494,529 |
Series 2022-DNA1, Class B1 | ||
3.689% (SOFR 30A + 3.40%), due 1/25/42 | 3,710,295 | 3,379,426 |
Principal Amount | Value | |
Mortgage-Backed Securities (continued) | ||
Whole Loan (Collateralized Mortgage Obligations) (continued) | ||
FHLMC STACR Trust (a)(b) | ||
Series 2018-DNA2, Class M2 | ||
2.818% (1 Month LIBOR + 2.15%), due 12/25/30 | $ 2,855,144 | $ 2,876,534 |
Series 2019-DNA3, Class B1 | ||
3.918% (1 Month LIBOR + 3.25%), due 7/25/49 | 1,780,000 | 1,766,198 |
Series 2018-DNA2, Class B1 | ||
4.368% (1 Month LIBOR + 3.70%), due 12/25/30 | 2,850,000 | 2,788,731 |
FHLMC Structured Agency Credit Risk Debt Notes (b) | ||
Series 2018-HQA1, Class M2 | ||
2.968% (1 Month LIBOR + 2.30%), due 9/25/30 | 3,394,949 | 3,415,974 |
Series 2021-DNA2, Class B1 | ||
3.689% (SOFR 30A + 3.40%), due 8/25/33 (a) | 1,365,000 | 1,288,578 |
Series 2022-DNA2, Class M2 | ||
4.039% (SOFR 30A + 3.75%), due 2/25/42 (a) | 1,690,000 | 1,664,693 |
FNMA (b) | ||
Series 2017-C05, Class 1M2 | ||
2.868% (1 Month LIBOR + 2.20%), due 1/25/30 | 828,646 | 834,869 |
Series 2017-C07, Class 2M2 | ||
3.168% (1 Month LIBOR + 2.50%), due 5/25/30 | 3,578,699 | 3,618,933 |
Series 2017-C04, Class 2M2 | ||
3.518% (1 Month LIBOR + 2.85%), due 11/25/29 | 1,856,661 | 1,896,952 |
Series 2021-R02, Class 2B1 | ||
3.589% (SOFR 30A + 3.30%), due 11/25/41 (a) | 1,450,000 | 1,350,397 |
Series 2016-C06, Class 1M2 | ||
4.918% (1 Month LIBOR + 4.25%), due 4/25/29 | 1,940,397 | 2,028,896 |
Series 2016-C07, Class 2M2 | ||
5.018% (1 Month LIBOR + 4.35%), due 5/25/29 | 2,407,338 | 2,515,987 |
Galton Funding Mortgage Trust | ||
Series 2018-2, Class A51 | ||
4.50%, due 10/25/58 (a)(k) | 615,228 | 610,380 |
GreenPoint Mortgage Funding Trust | ||
Series 2007-AR3, Class A1 | ||
1.108% (1 Month LIBOR + 0.44%), due 6/25/37 (b) | 402,311 | 393,305 |
Principal Amount | Value | |
Whole Loan (Collateralized Mortgage Obligations) (continued) | ||
Impac Secured Assets Trust | ||
Series 2006-5, Class 2A | ||
1.068% (1 Month LIBOR + 0.40%), due 12/25/36 (b) | $ 20,133 | $ 19,980 |
Mello Warehouse Securitization Trust | ||
Series 2021-1, Class B | ||
1.568% (1 Month LIBOR + 0.90%), due 2/25/55 (a)(b) | 1,060,000 | 1,051,463 |
New Residential Mortgage Loan Trust (a) | ||
Series 2019-5A, Class B7 | ||
4.403%, due 8/25/59 (j) | 2,320,939 | 1,647,760 |
Series 2019-4A, Class B6 | ||
4.705%, due 12/25/58 (k) | 2,078,979 | 1,475,824 |
Series 2019-2A, Class B6 | ||
4.929%, due 12/25/57 (k) | 841,330 | 616,514 |
NewRez Warehouse Securitization Trust | ||
Series 2021-1, Class B | ||
1.568% (1 Month LIBOR + 0.90%), due 5/25/55 (a)(b) | 3,085,000 | 3,028,829 |
Sequoia Mortgage Trust | ||
Series 2018-7, Class B3 | ||
4.256%, due 9/25/48 (a)(k) | 1,398,700 | 1,291,157 |
STACR Trust (a)(b) | ||
Series 2018-DNA3, Class M2 | ||
2.768% (1 Month LIBOR + 2.10%), due 9/25/48 | 1,556,587 | 1,565,678 |
Series 2018-HRP2, Class M3 | ||
3.068% (1 Month LIBOR + 2.40%), due 2/25/47 | 4,195,000 | 4,179,327 |
Series 2018-HRP1, Class B1 | ||
4.418% (1 Month LIBOR + 3.75%), due 4/25/43 | 1,785,000 | 1,780,543 |
Series 2018-HRP2, Class B1 | ||
4.868% (1 Month LIBOR + 4.20%), due 2/25/47 | 2,250,000 | 2,236,120 |
WaMu Mortgage Pass-Through Certificates Trust | ||
Series 2006-AR9, Class 2A | ||
1.723% (11th District Cost of Funds Index + 1.50%), due 8/25/46 (b) | 590,747 | 562,782 |
74,239,807 | ||
Total Mortgage-Backed Securities (Cost $186,556,653) | 179,393,558 |
22 | MainStay MacKay Strategic Bond Fund |
Principal Amount | Value | |
Municipal Bonds 0.4% | ||
California 0.4% | ||
Golden State Tobacco Securitization Corp. Revenue Bonds | ||
Series B, Insured: State Appropriations | ||
3.293%, due 6/1/42 | $ 725,000 | $ 583,484 |
Regents of the University of California Medical Center, Pooled Revenue Bonds | ||
Series N | ||
3.006%, due 5/15/50 | 2,760,000 | 2,179,414 |
Total Municipal Bonds (Cost $3,485,000) | 2,762,898 | |
U.S. Government & Federal Agencies 3.2% | ||
United States Treasury Bonds 0.4% | ||
U.S. Treasury Bonds | ||
2.25%, due 2/15/52 | 1,000,000 | 858,594 |
2.375%, due 2/15/42 | 2,050,000 | 1,811,367 |
2,669,961 | ||
United States Treasury Inflation - Indexed Note 0.5% | ||
U.S. Treasury Inflation Linked Notes | ||
0.125%, due 7/15/30 (l) | 3,352,907 | 3,411,419 |
United States Treasury Notes 2.3% | ||
U.S. Treasury Notes | ||
1.875%, due 2/15/32 | 5,050,000 | 4,611,281 |
2.75%, due 4/30/27 | 5,380,000 | 5,333,766 |
2.875%, due 4/30/29 | 6,480,000 | 6,449,622 |
16,394,669 | ||
Total U.S. Government & Federal Agencies (Cost $23,211,975) | 22,476,049 | |
Total Long-Term Bonds (Cost $664,300,389) | 614,086,953 | |
Shares | ||
Common Stocks 0.0% ‡ | ||
Commercial Services & Supplies 0.0% ‡ | ||
Quad/Graphics, Inc. (m) | 14 | 95 |
Shares | Value | |
Tobacco 0.0% ‡ | ||
Turning Point Brands, Inc. | 6,802 | $ 213,515 |
Total Common Stocks (Cost $0) | 213,610 | |
Short-Term Investments 10.1% | ||
Affiliated Investment Company 8.7% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (n) | 60,126,399 | 60,126,399 |
Unaffiliated Investment Companies 1.4% | ||
BlackRock Liquidity FedFund, 0.375% (n)(o) | 1,500,000 | 1,500,000 |
Invesco Government & Agency Portfolio, 0.419% (n)(o) | 8,269,673 | 8,269,673 |
Total Unaffiliated Investment Companies (Cost $9,769,673) | 9,769,673 | |
Total Short-Term Investments (Cost $69,896,072) | 69,896,072 | |
Total Investments (Cost $734,196,461) | 98.4% | 684,196,635 |
Other Assets, Less Liabilities | 1.6 | 10,920,895 |
Net Assets | 100.0% | $ 695,117,530 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(b) | Floating rate—Rate shown was the rate in effect as of April 30, 2022. |
(c) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $12,087,986; the total market value of collateral held by the Fund was $12,541,953. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $2,772,280. The Fund received cash collateral with a value of $9,769,673. (See Note 2(L)) |
(d) | Fixed to floating rate—Rate shown was the rate in effect as of April 30, 2022. |
(e) | Security is perpetual and, thus, does not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(f) | Illiquid security—As of April 30, 2022, the total market value deemed illiquid under procedures approved by the Board of Trustees was $655,200, which represented less than one-tenth of a percent of the Fund’s net assets. |
(g) | Step coupon—Rate shown was the rate in effect as of April 30, 2022. |
(h) | Collateralized Mortgage Obligation Interest Only Strip—Pays a fixed or variable rate of interest based on mortgage loans or mortgage pass-through securities. The principal amount of the underlying pool represents the notional amount on which the current interest was calculated. The value of these stripped securities may be particularly sensitive to changes in prevailing interest rates and are typically more sensitive to changes in prepayment rates than traditional mortgage-backed securities. |
(i) | Delayed delivery security. |
(j) | Collateral strip rate—A bond whose interest was based on the weighted net interest rate of the collateral. The coupon rate adjusts periodically based on a predetermined schedule. Rate shown was the rate in effect as of April 30, 2022. |
(k) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of April 30, 2022. |
(l) | Treasury Inflation Protected Security—Pays a fixed rate of interest on a principal amount that is continuously adjusted for inflation based on the Consumer Price Index-Urban Consumers. |
(m) | Non-income producing security. |
(n) | Current yield as of April 30, 2022. |
(o) | Represents a security purchased with cash collateral received for securities on loan. |
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 53,259 | $ 168,329 | $ (161,462) | $ — | $ — | $ 60,126 | $ 9 | $ — | 60,126 |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Long Contracts | |||||
U.S. Treasury 2 Year Notes | 118 | June 2022 | $ 25,113,631 | $ 24,875,875 | $ (237,756) |
U.S. Treasury Long Bonds | 79 | June 2022 | 11,914,582 | 11,114,313 | (800,269) |
Total Long Contracts | (1,038,025) | ||||
Short Contracts | |||||
U.S. Treasury 5 Year Notes | (602) | June 2022 | (70,460,233) | (67,828,469) | 2,631,764 |
U.S. Treasury 10 Year Notes | (488) | June 2022 | (61,488,891) | (58,148,250) | 3,340,641 |
U.S. Treasury 10 Year Ultra Bonds | (92) | June 2022 | (12,752,213) | (11,868,000) | 884,213 |
24 | MainStay MacKay Strategic Bond Fund |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
U.S. Treasury Ultra Bonds | (34) | June 2022 | $ (6,287,309) | $ (5,454,875) | $ 832,434 |
Total Short Contracts | 7,689,052 | ||||
Net Unrealized Appreciation | $ 6,651,027 |
1. | As of April 30, 2022, cash in the amount of $1,936,850 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of April 30, 2022. |
Notional Amount | Currency | Expiration Date | Payments made by Fund | Payments Received by Fund | Payment Frequency Paid/Received | Upfront Premiums Paid/ (Received) | Value | Unrealized Appreciation/ (Depreciation) |
$ 40,000,000 | USD | 3/16/23 | Fixed 2.793% | 3 month USD LIBOR | Semi-Annually/Quarterly | $ — | $ (136,392) | $ (136,392) |
41,000,000 | USD | 3/29/23 | Fixed 2.762% | 3 month USD LIBOR | Semi-Annually/Quarterly | — | (125,532) | (125,532) |
$ — | $ (261,924) | $ (261,924) |
1. | As of April 30, 2022, cash in the amount of $460,035 was on deposit with a broker for centrally cleared swap agreements. |
Abbreviation(s): |
FHLMC—Federal Home Loan Mortgage Corp. |
FNMA—Federal National Mortgage Association |
FREMF—Freddie Mac Multifamily |
GNMA—Government National Mortgage Association |
LIBOR—London Interbank Offered Rate |
REMIC—Real Estate Mortgage Investment Conduit |
SOFR—Secured Overnight Financing Rate |
USD—United States Dollar |
USISDA—U.S. dollar International Swaps and Derivatives Association |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Long-Term Bonds | ||||
Asset-Backed Securities | $ — | $ 87,262,113 | $ — | $ 87,262,113 |
Corporate Bonds | — | 278,691,549 | — | 278,691,549 |
Foreign Government Bonds | — | 18,861,131 | — | 18,861,131 |
Loan Assignments | — | 24,639,655 | — | 24,639,655 |
Mortgage-Backed Securities | — | 179,393,558 | — | 179,393,558 |
Municipal Bonds | — | 2,762,898 | — | 2,762,898 |
U.S. Government & Federal Agencies | — | 22,476,049 | — | 22,476,049 |
Total Long-Term Bonds | — | 614,086,953 | — | 614,086,953 |
Common Stocks | 213,610 | — | — | 213,610 |
Short-Term Investments | ||||
Affiliated Investment Company | 60,126,399 | — | — | 60,126,399 |
Unaffiliated Investment Companies | 9,769,673 | — | — | 9,769,673 |
Total Short-Term Investments | 69,896,072 | — | — | 69,896,072 |
Total Investments in Securities | 70,109,682 | 614,086,953 | — | 684,196,635 |
Other Financial Instruments | ||||
Futures Contracts (b) | 7,689,052 | — | — | 7,689,052 |
Total Investments in Securities and Other Financial Instruments | $ 77,798,734 | $ 614,086,953 | $ — | $ 691,885,687 |
Liability Valuation Inputs | ||||
Other Financial Instruments (b) | ||||
Futures Contracts | $ (1,038,025) | $ — | $ — | $ (1,038,025) |
Interest Rate Swaps | — | (261,924) | — | (261,924) |
Total Other Financial Instruments | $ (1,038,025) | $ (261,924) | $ — | $ (1,299,949) |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
26 | MainStay MacKay Strategic Bond Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $674,070,062) including securities on loan of $12,087,986 | $624,070,236 |
Investment in affiliated investment companies, at value (identified cost $60,126,399) | 60,126,399 |
Cash denominated in foreign currencies (identified cost $458) | 429 |
Cash collateral on deposit at broker for futures contracts | 1,936,850 |
Cash collateral on deposit at broker for swap contracts | 460,035 |
Receivables: | |
Investment securities sold | 16,410,514 |
Fund shares sold | 12,243,911 |
Dividends and interest | 4,376,859 |
Variation margin on futures contracts | 394,792 |
Variation margin on centrally cleared swap contracts | 117,637 |
Securities lending | 7,525 |
Other assets | 83,395 |
Total assets | 720,228,582 |
Liabilities | |
Cash collateral received for securities on loan | 9,769,673 |
Due to custodian | 3,421 |
Payables: | |
Investment securities purchased | 13,900,745 |
Fund shares redeemed | 610,311 |
Manager (See Note 3) | 308,964 |
Transfer agent (See Note 3) | 151,545 |
NYLIFE Distributors (See Note 3) | 73,282 |
Shareholder communication | 67,130 |
Professional fees | 26,281 |
Custodian | 20,722 |
Trustees | 2,622 |
Accrued expenses | 5,178 |
Distributions payable | 171,178 |
Total liabilities | 25,111,052 |
Net assets | $695,117,530 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $816,458 |
Additional paid-in-capital | 908,564,928 |
909,381,386 | |
Total distributable earnings (loss) | (214,263,856) |
Net assets | $695,117,530 |
Class A | |
Net assets applicable to outstanding shares | $188,072,750 |
Shares of beneficial interest outstanding | 22,102,526 |
Net asset value per share outstanding | $8.51 |
Maximum sales charge (4.50% of offering price) | 0.40 |
Maximum offering price per share outstanding | $8.91 |
Investor Class | |
Net assets applicable to outstanding shares | $15,076,579 |
Shares of beneficial interest outstanding | 1,756,106 |
Net asset value per share outstanding | $8.59 |
Maximum sales charge (4.00% of offering price) | 0.36 |
Maximum offering price per share outstanding | $8.95 |
Class B | |
Net assets applicable to outstanding shares | $2,359,999 |
Shares of beneficial interest outstanding | 278,762 |
Net asset value and offering price per share outstanding | $8.47 |
Class C | |
Net assets applicable to outstanding shares | $33,649,254 |
Shares of beneficial interest outstanding | 3,978,092 |
Net asset value and offering price per share outstanding | $8.46 |
Class I | |
Net assets applicable to outstanding shares | $453,091,353 |
Shares of beneficial interest outstanding | 53,193,942 |
Net asset value and offering price per share outstanding | $8.52 |
Class R2 | |
Net assets applicable to outstanding shares | $1,026,732 |
Shares of beneficial interest outstanding | 120,618 |
Net asset value and offering price per share outstanding | $8.51 |
Class R3 | |
Net assets applicable to outstanding shares | $597,957 |
Shares of beneficial interest outstanding | 70,254 |
Net asset value and offering price per share outstanding | $8.51 |
Class R6 | |
Net assets applicable to outstanding shares | $1,242,906 |
Shares of beneficial interest outstanding | 145,454 |
Net asset value and offering price per share outstanding | $8.55 |
Investment Income (Loss) | |
Income | |
Interest | $11,760,027 |
Securities lending | 35,470 |
Dividends-affiliated | 9,154 |
Dividends-unaffiliated | 782 |
Total income | 11,805,433 |
Expenses | |
Manager (See Note 3) | 2,100,944 |
Distribution/Service—Class A (See Note 3) | 235,598 |
Distribution/Service—Investor Class (See Note 3) | 19,958 |
Distribution/Service—Class B (See Note 3) | 13,814 |
Distribution/Service—Class C (See Note 3) | 203,612 |
Distribution/Service—Class R2 (See Note 3) | 1,290 |
Distribution/Service—Class R3 (See Note 3) | 1,519 |
Transfer agent (See Note 3) | 460,614 |
Registration | 70,477 |
Professional fees | 49,316 |
Shareholder communication | 36,952 |
Custodian | 29,205 |
Trustees | 7,787 |
Shareholder service (See Note 3) | 820 |
Miscellaneous | 16,266 |
Total expenses before waiver/reimbursement | 3,248,172 |
Expense waiver/reimbursement from Manager (See Note 3) | (175,553) |
Net expenses | 3,072,619 |
Net investment income (loss) | 8,732,814 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | 2,530,490 |
Futures transactions | 12,208,393 |
Swap transactions | (982,068) |
Foreign currency transactions | (18,723) |
Foreign currency forward transactions | 107,896 |
Net realized gain (loss) | 13,845,988 |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (68,413,703) |
Futures contracts | 3,284,322 |
Swap contracts | 2,359,880 |
Foreign currency forward contracts | (99,122) |
Translation of other assets and liabilities in foreign currencies | (135) |
Net change in unrealized appreciation (depreciation) | (62,868,758) |
Net realized and unrealized gain (loss) | (49,022,770) |
Net increase (decrease) in net assets resulting from operations | $(40,289,956) |
28 | MainStay MacKay Strategic Bond Fund |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $8,732,814 | $17,093,965 |
Net realized gain (loss) | 13,845,988 | 21,145,313 |
Net change in unrealized appreciation (depreciation) | (62,868,758) | (993,238) |
Net increase (decrease) in net assets resulting from operations | (40,289,956) | 37,246,040 |
Distributions to shareholders: | ||
Class A | (1,809,493) | (3,635,420) |
Investor Class | (138,564) | (323,097) |
Class B | (13,475) | (45,962) |
Class C | (196,568) | (629,126) |
Class I | (5,080,927) | (9,317,197) |
Class R2 | (9,396) | (19,150) |
Class R3 | (4,776) | (5,926) |
Class R6 | (14,690) | (24,072) |
(7,267,889) | (13,999,950) | |
Distributions to shareholders from return of capital: | ||
Class A | — | (221,004) |
Investor Class | — | (19,642) |
Class B | — | (2,794) |
Class C | — | (38,246) |
Class I | — | (566,411) |
Class R2 | — | (1,164) |
Class R3 | — | (360) |
Class R6 | — | (1,463) |
— | (851,084) | |
Total distributions to shareholders | (7,267,889) | (14,851,034) |
Capital share transactions: | ||
Net proceeds from sales of shares | 139,152,012 | 165,058,912 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 6,500,954 | 13,300,032 |
Cost of shares redeemed | (113,724,260) | (160,495,682) |
Increase (decrease) in net assets derived from capital share transactions | 31,928,706 | 17,863,262 |
Net increase (decrease) in net assets | (15,629,139) | 40,258,268 |
Net Assets | ||
Beginning of period | 710,746,669 | 670,488,401 |
End of period | $695,117,530 | $710,746,669 |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.10 | $8.80 | $8.74 | $8.65 | $8.90 | $8.81 |
Net investment income (loss) (a) | 0.10 | 0.22 | 0.22 | 0.23 | 0.24 | 0.25 |
Net realized and unrealized gain (loss) | (0.61) | 0.27 | 0.06 | 0.11 | (0.22) | 0.15 |
Total from investment operations | (0.51) | 0.49 | 0.28 | 0.34 | 0.02 | 0.40 |
Less distributions: | ||||||
From net investment income | (0.08) | (0.18) | (0.21) | (0.25) | (0.27) | (0.31) |
Return of capital | — | (0.01) | (0.01) | — | (0.00)‡ | (0.00)‡ |
Total distributions | (0.08) | (0.19) | (0.22) | (0.25) | (0.27) | (0.31) |
Net asset value at end of period | $8.51 | $9.10 | $8.80 | $8.74 | $8.65 | $8.90 |
Total investment return (b) | (5.58)% | 5.61% | 3.27% | 3.99% | 0.25% | 4.65% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 2.34%†† | 2.43% | 2.60% | 2.66% | 2.69% | 2.79% |
Net expenses (c) | 1.03%†† | 1.07%(d) | 1.18%(d) | 1.27%(d) | 1.25%(d) | 1.13%(d) |
Portfolio turnover rate | 30% | 53% | 56%(e) | 50%(e) | 22% | 41% |
Net assets at end of period (in 000’s) | $188,073 | $192,190 | $175,682 | $197,686 | $220,618 | $302,192 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The expense ratios presented below show the impact of short sales expense: |
Period Ended | Net Expenses (excluding short sale expenses) | Short Sales Expenses |
October 31, 2021 | 1.04% | 0.03% |
October 31, 2020 | 1.07% | 0.11% |
October 31, 2019 | 1.07% | 0.20% |
October 31, 2018 | 1.03% | 0.22% |
October 31, 2017 | 1.01% | 0.12% |
(e) | The portfolio turnover rate not including mortgage dollar rolls was 53% and 44% for the years ended October 31, 2020 and 2019, respectively. |
30 | MainStay MacKay Strategic Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.18 | $8.88 | $8.81 | $8.72 | $8.97 | $8.88 |
Net investment income (loss) (a) | 0.10 | 0.21 | 0.22 | 0.23 | 0.24 | 0.24 |
Net realized and unrealized gain (loss) | (0.61) | 0.27 | 0.06 | 0.11 | (0.22) | 0.16 |
Total from investment operations | (0.51) | 0.48 | 0.28 | 0.34 | 0.02 | 0.40 |
Less distributions: | ||||||
From net investment income | (0.08) | (0.17) | (0.20) | (0.25) | (0.27) | (0.31) |
Return of capital | — | (0.01) | (0.01) | — | (0.00)‡ | (0.00)‡ |
Total distributions | (0.08) | (0.18) | (0.21) | (0.25) | (0.27) | (0.31) |
Net asset value at end of period | $8.59 | $9.18 | $8.88 | $8.81 | $8.72 | $8.97 |
Total investment return (b) | (5.60)% | 5.41% | 3.29% | 3.93% | 0.23% | 4.59% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 2.19%†† | 2.30% | 2.54% | 2.63% | 2.68% | 2.74% |
Net expenses (c) | 1.17%†† | 1.20%(d) | 1.24%(d) | 1.29%(d) | 1.27%(d) | 1.15%(d) |
Portfolio turnover rate | 30% | 53% | 56%(e) | 50%(e) | 22% | 41% |
Net assets at end of period (in 000's) | $15,077 | $16,874 | $18,139 | $19,748 | $20,451 | $22,033 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The expense ratios presented below show the impact of short sales expense: |
Period Ended | Net Expenses (excluding short sale expenses) | Short Sales Expenses |
October 31, 2021 | 1.17% | 0.03% |
October 31, 2020 | 1.13% | 0.11% |
October 31, 2019 | 1.09% | 0.20% |
October 31, 2018 | 1.05% | 0.22% |
October 31, 2017 | 1.03% | 0.12% |
(e) | The portfolio turnover rate not including mortgage dollar rolls was 53% and 44% for the years ended October 31, 2020 and 2019, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.06 | $8.76 | $8.70 | $8.61 | $8.86 | $8.77 |
Net investment income (loss) (a) | 0.06 | 0.14 | 0.15 | 0.16 | 0.17 | 0.18 |
Net realized and unrealized gain (loss) | (0.61) | 0.27 | 0.06 | 0.11 | (0.22) | 0.15 |
Total from investment operations | (0.55) | 0.41 | 0.21 | 0.27 | (0.05) | 0.33 |
Less distributions: | ||||||
From net investment income | (0.04) | (0.10) | (0.15) | (0.18) | (0.20) | (0.24) |
Return of capital | — | (0.01) | (0.00)‡ | — | (0.00)‡ | (0.00)‡ |
Total distributions | (0.04) | (0.11) | (0.15) | (0.18) | (0.20) | (0.24) |
Net asset value at end of period | $8.47 | $9.06 | $8.76 | $8.70 | $8.61 | $8.86 |
Total investment return (b) | (5.93)% | 4.57% | 2.44% | 3.20% | (0.52)% | 3.86% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.43%†† | 1.55% | 1.77% | 1.90% | 1.92% | 2.00% |
Net expenses (c) | 1.92%†† | 1.95%(d) | 2.00%(d) | 2.04%(d) | 2.02%(d) | 1.90%(d) |
Portfolio turnover rate | 30% | 53% | 56%(e) | 50%(e) | 22% | 41% |
Net assets at end of period (in 000’s) | $2,360 | $3,191 | $4,872 | $7,970 | $11,015 | $15,223 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The expense ratios presented below show the impact of short sales expense: |
Period Ended | Net Expenses (excluding short sale expenses) | Short Sales Expenses |
October 31, 2021 | 1.92% | 0.03% |
October 31, 2020 | 1.89% | 0.11% |
October 31, 2019 | 1.84% | 0.20% |
October 31, 2018 | 1.80% | 0.22% |
October 31, 2017 | 1.78% | 0.12% |
(e) | The portfolio turnover rate not including mortgage dollar rolls was 53% and 44% for the years ended October 31, 2020 and 2019, respectively. |
32 | MainStay MacKay Strategic Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.05 | $8.75 | $8.69 | $8.60 | $8.85 | $8.76 |
Net investment income (loss) (a) | 0.06 | 0.14 | 0.15 | 0.16 | 0.17 | 0.18 |
Net realized and unrealized gain (loss) | (0.61) | 0.27 | 0.06 | 0.11 | (0.22) | 0.15 |
Total from investment operations | (0.55) | 0.41 | 0.21 | 0.27 | (0.05) | 0.33 |
Less distributions: | ||||||
From net investment income | (0.04) | (0.10) | (0.15) | (0.18) | (0.20) | (0.24) |
Return of capital | — | (0.01) | (0.00)‡ | — | (0.00)‡ | (0.00)‡ |
Total distributions | (0.04) | (0.11) | (0.15) | (0.18) | (0.20) | (0.24) |
Net asset value at end of period | $8.46 | $9.05 | $8.75 | $8.69 | $8.60 | $8.85 |
Total investment return (b) | (6.04)% | 4.69% | 2.45% | 3.21% | (0.52)% | 3.86% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.43%†† | 1.55% | 1.78% | 1.90% | 1.92% | 2.00% |
Net expenses (c) | 1.92%†† | 1.95%(d) | 2.00%(d) | 2.04%(d) | 2.02%(d) | 1.90%(d) |
Portfolio turnover rate | 30% | 53% | 56%(e) | 50%(e) | 22% | 41% |
Net assets at end of period (in 000’s) | $33,649 | $46,537 | $65,158 | $91,598 | $128,279 | $167,595 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The expense ratios presented below show the impact of short sales expense: |
Period Ended | Net Expenses (excluding short sale expenses) | Short Sales Expenses |
October 31, 2021 | 1.92% | 0.03% |
October 31, 2020 | 1.89% | 0.11% |
October 31, 2019 | 1.84% | 0.20% |
October 31, 2018 | 1.80% | 0.22% |
October 31, 2017 | 1.78% | 0.12% |
(e) | The portfolio turnover rate not including mortgage dollar rolls was 53% and 44% for the years ended October 31, 2020 and 2019, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.11 | $8.81 | $8.75 | $8.66 | $8.91 | $8.82 |
Net investment income (loss) (a) | 0.12 | 0.25 | 0.24 | 0.25 | 0.26 | 0.26 |
Net realized and unrealized gain (loss) | (0.61) | 0.27 | 0.06 | 0.11 | (0.22) | 0.16 |
Total from investment operations | (0.49) | 0.52 | 0.30 | 0.36 | 0.04 | 0.42 |
Less distributions: | ||||||
From net investment income | (0.10) | (0.21) | (0.23) | (0.27) | (0.29) | (0.33) |
Return of capital | — | (0.01) | (0.01) | — | (0.00)‡ | (0.00)‡ |
Total distributions | (0.10) | (0.22) | (0.24) | (0.27) | (0.29) | (0.33) |
Net asset value at end of period | $8.52 | $9.11 | $8.81 | $8.75 | $8.66 | $8.91 |
Total investment return (b) | (5.42)% | 5.88% | 3.53% | 4.24% | 0.51% | 4.90% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 2.67%†† | 2.70% | 2.83% | 2.91% | 2.94% | 2.99% |
Net expenses (c) | 0.70%†† | 0.79%(d) | 0.94%(d) | 1.02%(d) | 1.00%(d) | 0.88%(d) |
Expenses (before waiver/reimbursement) | 0.78%†† | 0.82% | 0.94% | 1.02% | 1.00% | 0.88% |
Portfolio turnover rate | 30% | 53% | 56%(e) | 50%(e) | 22% | 41% |
Net assets at end of period (in 000’s) | $453,091 | $448,881 | $404,964 | $604,981 | $717,129 | $837,363 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The expense ratios presented below show the impact of short sales expense: |
Period Ended | Net Expenses (excluding short sale expenses) | Short Sales Expenses |
October 31, 2021 | 0.76% | 0.03% |
October 31, 2020 | 0.83% | 0.11% |
October 31, 2019 | 0.82% | 0.20% |
October 31, 2018 | 0.78% | 0.22% |
October 31, 2017 | 0.76% | 0.12% |
(e) | The portfolio turnover rate not including mortgage dollar rolls was 53% and 44% for the years ended October 31, 2020 and 2019, respectively. |
34 | MainStay MacKay Strategic Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R2 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.11 | $8.81 | $8.74 | $8.65 | $8.90 | $8.81 |
Net investment income (loss) (a) | 0.10 | 0.21 | 0.21 | 0.22 | 0.23 | 0.23 |
Net realized and unrealized gain (loss) | (0.62) | 0.27 | 0.07 | 0.11 | (0.22) | 0.16 |
Total from investment operations | (0.52) | 0.48 | 0.28 | 0.33 | 0.01 | 0.39 |
Less distributions: | ||||||
From net investment income | (0.08) | (0.17) | (0.20) | (0.24) | (0.26) | (0.30) |
Return of capital | — | (0.01) | (0.01) | — | (0.00)‡ | (0.00)‡ |
Total distributions | (0.08) | (0.18) | (0.21) | (0.24) | (0.26) | (0.30) |
Net asset value at end of period | $8.51 | $9.11 | $8.81 | $8.74 | $8.65 | $8.90 |
Total investment return (b) | (5.73)% | 5.49% | 3.27% | 3.89% | 0.16% | 4.54% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 2.24%†† | 2.33% | 2.49% | 2.54% | 2.67% | 2.63% |
Net expenses (c) | 1.13%†† | 1.17%(d) | 1.29%(d) | 1.37%(d) | 1.34%(d) | 1.23%(d) |
Portfolio turnover rate | 30% | 53% | 56%(e) | 50%(e) | 22% | 41% |
Net assets at end of period (in 000’s) | $1,027 | $1,047 | $934 | $7,232 | $6,657 | $773 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R2 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The expense ratios presented below show the impact of short sales expense: |
Period Ended | Net Expenses (excluding short sale expenses) | Short Sales Expenses |
October 31, 2021 | 1.14% | 0.03% |
October 31, 2020 | 1.18% | 0.11% |
October 31, 2019 | 1.17% | 0.20% |
October 31, 2018 | 1.14% | 0.20% |
October 31, 2017 | 1.11% | 0.12% |
(e) | The portfolio turnover rate not including mortgage dollar rolls was 53% and 44% for the years ended October 31, 2020 and 2019, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R3 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $9.10 | $8.80 | $8.74 | $8.65 | $8.90 | $8.81 |
Net investment income (loss) (a) | 0.09 | 0.19 | 0.20 | 0.20 | 0.21 | 0.21 |
Net realized and unrealized gain (loss) | (0.61) | 0.27 | 0.05 | 0.11 | (0.22) | 0.16 |
Total from investment operations | (0.52) | 0.46 | 0.25 | 0.31 | (0.01) | 0.37 |
Less distributions: | ||||||
From net investment income | (0.07) | (0.15) | (0.18) | (0.22) | (0.24) | (0.28) |
Return of capital | — | (0.01) | (0.01) | — | (0.00)‡ | (0.00)‡ |
Total distributions | (0.07) | (0.16) | (0.19) | (0.22) | (0.24) | (0.28) |
Net asset value at end of period | $8.51 | $9.10 | $8.80 | $8.74 | $8.65 | $8.90 |
Total investment return (b) | (5.75)% | 5.21% | 2.90% | 3.63% | (0.09)% | 4.28% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.99%†† | 2.05% | 2.27% | 2.29% | 2.36% | 2.34% |
Net expenses (c) | 1.38%†† | 1.42%(d) | 1.52%(d) | 1.62%(d) | 1.60%(d) | 1.48%(d) |
Portfolio turnover rate | 30% | 53% | 56%(e) | 50%(e) | 22% | 41% |
Net assets at end of period (in 000’s) | $598 | $619 | $276 | $218 | $190 | $114 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The expense ratios presented below show the impact of short sales expense: |
Period Ended | Net Expenses (excluding short sale expenses) | Short Sales Expenses |
October 31, 2021 | 1.39% | 0.03% |
October 31, 2020 | 1.41% | 0.11% |
October 31, 2019 | 1.42% | 0.20% |
October 31, 2018 | 1.38% | 0.22% |
October 31, 2017 | 1.36% | 0.12% |
(e) | The portfolio turnover rate not including mortgage dollar rolls was 53% and 44% for the years ended October 31, 2020 and 2019, respectively. |
36 | MainStay MacKay Strategic Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | February 28, 2018^ through October 31, 2018 | |||
Class R6 | 2021 | 2020 | 2019 | ||
Net asset value at beginning of period | $9.14 | $8.84 | $8.75 | $8.66 | $8.83 |
Net investment income (loss) (a) | 0.12 | 0.26 | 0.25 | 0.27 | 0.19 |
Net realized and unrealized gain (loss) | (0.61) | 0.26 | 0.09 | 0.11 | (0.14) |
Total from investment operations | (0.49) | 0.52 | 0.34 | 0.38 | 0.05 |
Less distributions: | |||||
From net investment income | (0.10) | (0.21) | (0.24) | (0.29) | (0.22) |
Return of capital | — | (0.01) | (0.01) | — | (0.00)‡ |
Total distributions | (0.10) | (0.22) | (0.25) | (0.29) | (0.22) |
Net asset value at end of period | $8.55 | $9.14 | $8.84 | $8.75 | $8.66 |
Total investment return (b) | (5.39)% | 5.97% | 4.04% | 4.43% | 0.54% |
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.70%†† | 2.83% | 2.88% | 3.13% | 3.18%†† |
Net expenses (c) | 0.66%†† | 0.69%(d) | 0.82%(d) | 0.84%(d) | 0.85%††(d) |
Portfolio turnover rate | 30% | 53% | 56%(e) | 50%(e) | 22% |
Net assets at end of period (in 000’s) | $1,243 | $1,407 | $465 | $22,632 | $52,504 |
* | Unaudited. |
^ | Inception date. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The expense ratios presented below show the impact of short sales expense: |
Period Ended | Net Expenses (excluding short sale expenses) | Short Sales Expenses |
October 31, 2021 | 0.67% | 0.02% |
October 31, 2020 | 0.66% | 0.16% |
October 31, 2019 | 0.64% | 0.20% |
October 31, 2018 | 0.62% | 0.23% |
(e) | The portfolio turnover rate not including mortgage dollar rolls was 53% and 44% for the years ended October 31, 2020 and 2019, respectively. |
Class | Commenced Operations |
Class A | February 28, 1997 |
Investor Class | February 28, 2008 |
Class B | February 28, 1997 |
Class C | September 1, 1998 |
Class I | January 2, 2004 |
Class R2 | February 28, 2014 |
Class R3 | February 29, 2016 |
Class R6 | February 28, 2018 |
SIMPLE Class | N/A* |
* | SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
38 | MainStay MacKay Strategic Bond Fund |
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
40 | MainStay MacKay Strategic Bond Fund |
42 | MainStay MacKay Strategic Bond Fund |
44 | MainStay MacKay Strategic Bond Fund |
Asset Derivatives | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized appreciation on futures contracts (a) | $7,689,052 | $7,689,052 |
Total Fair Value | $7,689,052 | $7,689,052 |
(a) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Portfolio of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Liability Derivatives | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized depreciation on futures contracts (a) | $(1,038,025) | $(1,038,025) |
Centrally Cleared Swap Contracts - Net Assets—Net unrealized depreciation on swap contracts (b) | (261,924) | (261,924) |
Total Fair Value | $(1,299,949) | $(1,299,949) |
(a) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Portfolio of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
(b) | Includes cumulative appreciation (depreciation) of centrally cleared swap agreements as reported in the Portfolio of Investments. Only the current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Net Realized Gain (Loss) from: | Foreign Exchange Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts | $— | $12,208,393 | $12,208,393 |
Swap Contracts | — | (982,068) | (982,068) |
Forward Contracts | 107,896 | — | 107,896 |
Total Net Realized Gain (Loss) | $107,896 | $11,226,325 | $11,334,221 |
Net Change in Unrealized Appreciation (Depreciation) | Foreign Exchange Contracts Risk | Interest Rate Contracts Risk | Total |
Futures Contracts | $— | $3,284,322 | $3,284,322 |
Swap Contracts | — | 2,359,880 | 2,359,880 |
Forward Contracts | (99,122) | — | (99,122) |
Total Net Change in Unrealized Appreciation (Depreciation) | $(99,122) | $5,644,202 | $5,545,080 |
46 | MainStay MacKay Strategic Bond Fund |
Average Notional Amount | Total |
Futures Contracts Long | $20,123,952 |
Futures Contracts Short | $(231,227,494) |
Swap Contracts Long | $81,000,000 |
Forward Contracts Long (a) | $4,229,291 |
Forward Contracts Short (a) | $(4,266,464) |
(a) | Positions were open three months during the reporting period. |
Class R2 | $516 |
Class R3 | 304 |
Class | Expense | Waived |
Class A | $112,274 | $— |
Investor Class | 21,180 | — |
Class B | 3,670 | — |
Class C | 54,082 | — |
Class I | 268,405 | — |
Class R2 | 615 | — |
Class R3 | 362 | — |
Class R6 | 26 | — |
Class I | $1,124,244 | 0.2% |
Class R3 | 30,180 | 5.0 |
Class R6 | 27,317 | 2.2 |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $734,186,238 | $2,680,739 | $(52,670,342) | $(49,989,603) |
48 | MainStay MacKay Strategic Bond Fund |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $27,869 | $152,707 |
2021 | |
Distributions paid from: | |
Ordinary Income | $13,999,950 |
Return of Capital | 851,084 |
Total | $14,851,034 |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 2,786,057 | $24,574,597 |
Shares issued to shareholders in reinvestment of distributions | 188,488 | 1,656,904 |
Shares redeemed | (2,066,642) | (18,301,950) |
Net increase (decrease) in shares outstanding before conversion | 907,903 | 7,929,551 |
Shares converted into Class A (See Note 1) | 94,699 | 843,969 |
Shares converted from Class A (See Note 1) | (14,234) | (125,403) |
Net increase (decrease) | 988,368 | $8,648,117 |
Year ended October 31, 2021: | ||
Shares sold | 4,142,465 | $37,695,529 |
Shares issued to shareholders in reinvestment of distributions | 386,703 | 3,514,807 |
Shares redeemed | (3,881,418) | (35,230,020) |
Net increase (decrease) in shares outstanding before conversion | 647,750 | 5,980,316 |
Shares converted into Class A (See Note 1) | 598,420 | 5,426,216 |
Shares converted from Class A (See Note 1) | (90,110) | (816,457) |
Net increase (decrease) | 1,156,060 | $10,590,075 |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 36,221 | $326,687 |
Shares issued to shareholders in reinvestment of distributions | 15,375 | 136,403 |
Shares redeemed | (113,452) | (1,016,938) |
Net increase (decrease) in shares outstanding before conversion | (61,856) | (553,848) |
Shares converted into Investor Class (See Note 1) | 41,551 | 370,427 |
Shares converted from Investor Class (See Note 1) | (61,152) | (550,549) |
Net increase (decrease) | (81,457) | $(733,970) |
Year ended October 31, 2021: | ||
Shares sold | 113,560 | $1,040,464 |
Shares issued to shareholders in reinvestment of distributions | 36,650 | 335,936 |
Shares redeemed | (273,230) | (2,505,424) |
Net increase (decrease) in shares outstanding before conversion | (123,020) | (1,129,024) |
Shares converted into Investor Class (See Note 1) | 155,880 | 1,424,394 |
Shares converted from Investor Class (See Note 1) | (238,288) | (2,185,706) |
Net increase (decrease) | (205,428) | $(1,890,336) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 11,197 | $101,417 |
Shares issued to shareholders in reinvestment of distributions | 1,222 | 10,669 |
Shares redeemed | (59,824) | (530,910) |
Net increase (decrease) in shares outstanding before conversion | (47,405) | (418,824) |
Shares converted from Class B (See Note 1) | (26,272) | (230,869) |
Net increase (decrease) | (73,677) | $(649,693) |
Year ended October 31, 2021: | ||
Shares sold | 8,800 | $78,983 |
Shares issued to shareholders in reinvestment of distributions | 4,318 | 39,009 |
Shares redeemed | (146,647) | (1,325,666) |
Net increase (decrease) in shares outstanding before conversion | (133,529) | (1,207,674) |
Shares converted from Class B (See Note 1) | (70,410) | (635,484) |
Net increase (decrease) | (203,939) | $(1,843,158) |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 96,493 | $852,156 |
Shares issued to shareholders in reinvestment of distributions | 21,826 | 190,379 |
Shares redeemed | (1,234,135) | (10,847,281) |
Net increase (decrease) in shares outstanding before conversion | (1,115,816) | (9,804,746) |
Shares converted from Class C (See Note 1) | (49,098) | (432,978) |
Net increase (decrease) | (1,164,914) | $(10,237,724) |
Year ended October 31, 2021: | ||
Shares sold | 471,716 | $4,268,995 |
Shares issued to shareholders in reinvestment of distributions | 72,232 | 652,329 |
Shares redeemed | (2,400,170) | (21,673,078) |
Net increase (decrease) in shares outstanding before conversion | (1,856,222) | (16,751,754) |
Shares converted from Class C (See Note 1) | (447,633) | (4,024,920) |
Net increase (decrease) | (2,303,855) | $(20,776,674) |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 12,728,200 | $112,941,223 |
Shares issued to shareholders in reinvestment of distributions | 508,659 | 4,479,662 |
Shares redeemed | (9,321,455) | (82,634,912) |
Net increase (decrease) in shares outstanding before conversion | 3,915,404 | 34,785,973 |
Shares converted into Class I (See Note 1) | 14,218 | 125,403 |
Net increase (decrease) | 3,929,622 | $34,911,376 |
Year ended October 31, 2021: | ||
Shares sold | 13,192,767 | $120,262,456 |
Shares issued to shareholders in reinvestment of distributions | 956,891 | 8,707,229 |
Shares redeemed | (10,934,086) | (99,338,416) |
Net increase (decrease) in shares outstanding before conversion | 3,215,572 | 29,631,269 |
Shares converted into Class I (See Note 1) | 89,508 | 811,957 |
Net increase (decrease) | 3,305,080 | $30,443,226 |
Class R2 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 9,284 | $82,306 |
Shares issued to shareholders in reinvestment of distributions | 1,069 | 9,396 |
Shares redeemed | (4,684) | (41,988) |
Net increase (decrease) | 5,669 | $49,714 |
Year ended October 31, 2021: | ||
Shares sold | 14,072 | $127,816 |
Shares issued to shareholders in reinvestment of distributions | 2,234 | 20,315 |
Shares redeemed | (7,400) | (67,031) |
Net increase (decrease) | 8,906 | $81,100 |
50 | MainStay MacKay Strategic Bond Fund |
Class R3 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 4,452 | $39,233 |
Shares issued to shareholders in reinvestment of distributions | 324 | 2,851 |
Shares redeemed | (2,533) | (22,239) |
Net increase (decrease) | 2,243 | $19,845 |
Year ended October 31, 2021: | ||
Shares sold | 57,029 | $519,396 |
Shares issued to shareholders in reinvestment of distributions | 536 | 4,872 |
Shares redeemed | (20,844) | (189,665) |
Net increase (decrease) | 36,721 | $334,603 |
Class R6 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 26,362 | $234,393 |
Shares issued to shareholders in reinvestment of distributions | 1,662 | 14,690 |
Shares redeemed | (36,514) | (328,042) |
Net increase (decrease) | (8,490) | $(78,959) |
Year ended October 31, 2021: | ||
Shares sold | 116,756 | $1,065,273 |
Shares issued to shareholders in reinvestment of distributions | 2,794 | 25,535 |
Shares redeemed | (18,194) | (166,382) |
Net increase (decrease) | 101,356 | $924,426 |
52 | MainStay MacKay Strategic Bond Fund |
54 | MainStay MacKay Strategic Bond Fund |
56 | MainStay MacKay Strategic Bond Fund |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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9 | |
11 | |
57 | |
67 | |
77 | |
81 | |
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82 |
Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 4.5% Initial Sales Charge | With sales charges | 1/3/1995 | -12.97% | -12.90% | 1.08% | 2.47% | 0.73% |
Excluding sales charges | -8.87 | -8.80 | 2.02 | 2.95 | 0.73 | |||
Investor Class Shares3 | Maximum 4% Initial Sales Charge | With sales charges | 2/28/2008 | -12.57 | -12.51 | 1.08 | 2.46 | 0.76 |
Excluding sales charges | -8.93 | -8.86 | 2.02 | 2.93 | 0.76 | |||
Class B Shares4 | Maximum 5% CDSC | With sales charges | 5/1/1986 | -13.48 | -13.49 | 1.40 | 2.68 | 1.01 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -8.99 | -9.04 | 1.76 | 2.68 | 1.01 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/1/1998 | -9.89 | -10.01 | 1.76 | 2.67 | 1.01 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -8.99 | -9.12 | 1.76 | 2.67 | 1.01 | ||
Class C2 Shares | Maximum 1% CDSC | With sales charges | 8/31/2020 | -9.95 | -10.07 | N/A | -3.95 | 1.16 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -9.06 | -9.18 | N/A | -3.95 | 1.16 | ||
Class I Shares | No Sales Charge | 12/21/2009 | -8.76 | -8.66 | 2.27 | 3.20 | 0.48 | |
Class R6 Shares | No Sales Charge | 11/1/2019 | -8.72 | -8.50 | N/A | -0.47 | 0.43 |
1. | Not annualized. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Prior to June 30, 2020, the maximum initial sales charge was 4.5%, which is reflected in the applicable average annual total return figures shown. |
4. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
Bloomberg Municipal Bond Index2 | -7.90% | -7.88% | 1.80% | 2.48% |
Morningstar Muni National Long Category Average3 | -9.54 | -9.28 | 1.64 | 2.32 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The Bloomberg Municipal Bond Index is the Fund's primary broadbased securities market index for comparison purposes. The Bloomberg Municipal Bond Index is considered representative of the broadbased market for investment-grade, tax-exempt bonds with a maturity of at least one year. Bonds subject to the alternative minimum tax or with floating or zero coupons are excluded. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Morningstar Muni National Long Category Average is representative of funds that invest in bonds issued by various state and local governments to fund public projects. The income from these bonds is generally free from federal taxes. These portfolios have durations of more than 7 years. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay MacKay Tax Free Bond Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $911.30 | $3.55 | $1,021.08 | $3.76 | 0.75% |
Investor Class Shares | $1,000.00 | $910.70 | $3.60 | $1,021.03 | $3.81 | 0.76% |
Class B Shares | $1,000.00 | $910.10 | $4.78 | $1,019.79 | $5.06 | 1.01% |
Class C Shares | $1,000.00 | $910.10 | $4.78 | $1,019.79 | $5.06 | 1.01% |
Class C2 Shares | $1,000.00 | $909.40 | $5.49 | $1,019.04 | $5.81 | 1.16% |
Class I Shares | $1,000.00 | $912.40 | $2.37 | $1,022.32 | $2.51 | 0.50% |
Class R6 Shares | $1,000.00 | $912.80 | $2.04 | $1,022.66 | $2.16 | 0.43% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Portfolio Composition as of April 30, 2022 (Unaudited)
New York | 18.4% |
California | 12.9 |
Illinois | 9.2 |
Texas | 6.2 |
Florida | 5.6 |
Georgia | 4.0 |
New Jersey | 4.0 |
Utah | 2.9 |
Pennsylvania | 2.8 |
Colorado | 2.0 |
South Carolina | 1.9 |
Connecticut | 1.9 |
Nevada | 1.8 |
Alabama | 1.6 |
Nebraska | 1.6 |
Iowa | 1.5 |
Michigan | 1.3 |
District of Columbia | 1.2 |
Ohio | 1.1 |
U.S. Virgin Islands | 1.0 |
Kentucky | 0.9 |
Virginia | 0.9 |
Missouri | 0.9 |
Washington | 0.8 |
Massachusetts | 0.8 |
Maryland | 0.8 |
Oregon | 0.7 |
Arizona | 0.6 |
Delaware | 0.6% |
Indiana | 0.6 |
Tennessee | 0.6 |
Louisiana | 0.5 |
Minnesota | 0.5 |
Arkansas | 0.5 |
Wisconsin | 0.5 |
Puerto Rico | 0.4 |
Guam | 0.3 |
Rhode Island | 0.3 |
Oklahoma | 0.3 |
Hawaii | 0.3 |
Idaho | 0.3 |
Montana | 0.3 |
New Mexico | 0.2 |
Kansas | 0.2 |
New Hampshire | 0.1 |
North Dakota | 0.1 |
South Dakota | 0.1 |
Wyoming | 0.1 |
North Carolina | 0.1 |
Alaska | 0.0‡ |
Maine | 0.0‡ |
Mississippi | 0.0‡ |
Vermont | 0.0‡ |
Other Assets, Less Liabilities | 3.8 |
100.0% |
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | New York State Dormitory Authority, 3.00%-5.25%, due 3/15/31–3/15/52 |
2. | New York City Transitional Finance Authority, 3.00%-5.00%, due 11/1/26–2/1/51 |
3. | Metropolitan Transportation Authority, 0.738%-5.25%, due 11/15/26–11/15/54 |
4. | City of New York NY, 0.64%-5.25%, due 8/1/28–3/1/50 |
5. | City of Salt Lake City UT, 4.00%-5.00%, due 7/1/35–7/1/51 |
6. | South Carolina Public Service Authority, 3.00%-5.00%, due 12/1/26–12/1/56 |
7. | New York State Urban Development Corp., 3.00%-5.00%, due 3/15/30–3/15/47 |
8. | State of California, 3.00%-5.25%, due 4/1/30–3/1/46 |
9. | California Health Facilities Financing Authority, 3.00%-5.00%, due 10/1/35–8/15/51 |
10. | Municipal Electric Authority of Georgia, 4.00%-5.50%, due 1/1/35–7/1/60 |
8 | MainStay MacKay Tax Free Bond Fund |
10 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Municipal Bonds 96.2% | ||
Long-Term Municipal Bonds 93.7% | ||
Alabama 1.0% | ||
Black Belt Energy Gas District, Project No.5, Revenue Bonds | ||
Series A-1 | ||
4.00%, due 10/1/49 (a) | $ 7,000,000 | $ 7,116,702 |
Black Belt Energy Gas District, Gas Project No.6, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/52 (a) | 8,860,000 | 9,008,095 |
Black Belt Energy Gas District, Project No.7, Revenue Bonds | ||
Series C-1 | ||
4.00%, due 10/1/52 (a) | 7,675,000 | 7,803,288 |
Black Belt Energy Gas District, Revenue Bonds | ||
Series B-1 | ||
4.00%, due 4/1/53 (a) | 4,325,000 | 4,400,710 |
City of Birmingham AL, Unlimited General Obligation | ||
Series A | ||
5.00%, due 3/1/43 | 2,650,000 | 2,715,916 |
County of Jefferson AL, Sewer, Revenue Bonds, Sub. Lien | ||
Series D | ||
6.00%, due 10/1/42 | 5,160,000 | 5,660,012 |
Health Care Authority of the City of Huntsville (The), HH Health System, Revenue Bonds | ||
Series B | ||
4.00%, due 6/1/45 | 18,420,000 | 17,977,399 |
Houston County Health Care Authority, Southeast Alabama Medical Centre, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/25 | 1,000,000 | 1,070,185 |
Lower Alabama Gas District (The), Gas Project, Project No. 2, Revenue Bonds | ||
4.00%, due 12/1/50 (a) | 750,000 | 764,623 |
Lower Alabama Gas District (The), Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/46 | 8,950,000 | 9,730,631 |
University of South Alabama, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 11/1/35 | 2,000,000 | 2,059,860 |
Principal Amount | Value | |
Alabama (continued) | ||
University of South Alabama, Revenue Bonds (continued) | ||
Insured: AGM | ||
5.00%, due 11/1/29 | $ 1,110,000 | $ 1,204,232 |
Insured: AGM | ||
5.00%, due 11/1/30 | 2,000,000 | 2,167,159 |
Water Works Board of the City of Birmingham (The), Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/32 | 5,340,000 | 5,931,847 |
77,610,659 | ||
Alaska 0.0% ‡ | ||
Alaska Industrial Development & Export Authority, Greater Fairbanks Community Hospital Foundation Obligated Group, Revenue Bonds | ||
5.00%, due 4/1/32 | 3,300,000 | 3,375,635 |
Arizona 0.6% | ||
Arizona Board of Regents, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/43 | 2,730,000 | 3,052,209 |
Arizona Industrial Development Authority, Provident Group, NCCU Properties LLC, Central University Project, Revenue Bonds | ||
Series A, Insured: BAM | ||
4.00%, due 6/1/44 | 940,000 | 951,957 |
Arizona Industrial Development Authority, Phoenix Children's Hospital, Revenue Bonds | ||
Series A | ||
4.00%, due 2/1/50 | 23,275,000 | 22,792,863 |
Maricopa County Industrial Development Authority, Banner Health Obligated Group, Revenue Bonds | ||
Series E | ||
4.00%, due 1/1/45 | 6,200,000 | 6,124,271 |
Maricopa County Unified School District No. 090 Saddle Mountain, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 7/1/35 | 6,375,000 | 6,749,470 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Arizona (continued) | ||
Maricopa County Unified School District No. 4 Mesa, Project of 2018, Unlimited General Obligation | ||
Series E | ||
5.00%, due 7/1/24 | $ 1,250,000 | $ 1,319,412 |
Series E | ||
5.00%, due 7/1/26 | 1,850,000 | 2,033,939 |
Series E | ||
5.00%, due 7/1/28 | 1,850,000 | 2,099,425 |
Series E | ||
5.00%, due 7/1/30 | 1,750,000 | 2,031,310 |
47,154,856 | ||
Arkansas 0.5% | ||
County of Pulaski AR, Arkansas Children's Hospital, Revenue Bonds | ||
5.00%, due 3/1/34 | 2,000,000 | 2,172,201 |
Little Rock School District, Limited General Obligation | ||
Series A, Insured: BAM State Aid Withholding | ||
3.00%, due 2/1/46 | 4,155,000 | 3,452,420 |
Series A, Insured: BAM State Aid Withholding | ||
3.00%, due 2/1/48 | 15,605,000 | 12,779,862 |
Series A, Insured: BAM State Aid Withholding | ||
3.00%, due 2/1/50 | 6,700,000 | 5,397,254 |
Series A, Insured: BAM State Aid Withholding | ||
3.00%, due 2/1/51 | 6,500,000 | 5,200,517 |
Springdale Public Facilities Board, Arkansas Children's Northwest, Inc., Revenue Bonds | ||
5.00%, due 3/1/34 | 2,640,000 | 2,821,786 |
University of Arkansas, UALR Campus, Revenue Bonds | ||
5.00%, due 10/1/29 | 1,315,000 | 1,440,308 |
5.00%, due 10/1/30 | 1,110,000 | 1,215,289 |
5.00%, due 10/1/31 | 1,205,000 | 1,318,775 |
35,798,412 | ||
California 12.7% | ||
Alta Loma School District, Unlimited General Obligation | ||
Series C | ||
4.00%, due 8/1/45 | 4,000,000 | 4,021,369 |
Principal Amount | Value | |
California (continued) | ||
Alta Loma School District, Unlimited General Obligation (continued) | ||
Series B | ||
5.00%, due 8/1/44 | $ 3,500,000 | $ 3,823,664 |
Antelope Valley Community College District, Election 2016, Unlimited General Obligation | ||
Series A | ||
4.50%, due 8/1/38 | 10,325,000 | 11,229,783 |
Bay Area Toll Authority, Revenue Bonds | ||
Series S-H | ||
5.00%, due 4/1/44 | 2,365,000 | 2,708,212 |
Calexico Unified School District, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 8/1/52 | 2,925,000 | 2,297,322 |
California Health Facilities Financing Authority, Cedars Sinai Health System, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 8/15/51 | 4,500,000 | 3,750,529 |
Series A, Insured: BAM | ||
4.00%, due 8/15/48 | 86,550,000 | 87,229,712 |
California Health Facilities Financing Authority, Providence St. Joseph Health Obligated Group, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/35 | 1,230,000 | 1,243,207 |
California Health Facilities Financing Authority, CommonSpirit Health, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/37 | 2,500,000 | 2,501,472 |
Series A | ||
4.00%, due 4/1/49 | 9,200,000 | 8,695,685 |
California Health Facilities Financing Authority, City of Hope Obligated Group, Revenue Bonds | ||
4.00%, due 11/15/45 | 4,500,000 | 4,397,281 |
California Health Facilities Financing Authority, Cedars-Sinai Medical Center, Revenue Bonds | ||
Series A | ||
5.00%, due 8/15/51 | 2,975,000 | 3,275,661 |
12 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
California Infrastructure and Economic Development Bank, California State Teachers' Retirement System, Green Bond, Revenue Bonds | ||
5.00%, due 8/1/49 | $ 8,950,000 | $ 9,809,632 |
California Municipal Finance Authority, Community Hospitals of Central California, Revenue Bonds | ||
Series A, Insured: AGM-CR | ||
3.00%, due 2/1/46 | 4,340,000 | 3,527,094 |
California Municipal Finance Authority, Community Health System, Revenue Bonds | ||
Series A | ||
4.00%, due 2/1/41 | 2,500,000 | 2,498,580 |
California Municipal Finance Authority, Southern California Institute of Architecture Project, Revenue Bonds | ||
5.00%, due 12/1/23 | 405,000 | 418,093 |
5.00%, due 12/1/24 | 425,000 | 444,432 |
5.00%, due 12/1/25 | 450,000 | 477,113 |
5.00%, due 12/1/26 | 470,000 | 503,825 |
5.00%, due 12/1/27 | 495,000 | 535,617 |
5.00%, due 12/1/28 | 520,000 | 560,359 |
California Municipal Finance Authority, CHF-Davis I LLC, West Village Student Housing Project, Revenue Bonds | ||
5.00%, due 5/15/32 | 1,570,000 | 1,679,010 |
Insured: BAM | ||
5.00%, due 5/15/32 | 1,500,000 | 1,632,611 |
Insured: BAM | ||
5.00%, due 5/15/36 | 3,650,000 | 3,953,290 |
Insured: BAM | ||
5.00%, due 5/15/39 | 8,715,000 | 9,387,988 |
Insured: BAM | ||
5.00%, due 5/15/43 | 10,650,000 | 11,405,079 |
California Public Finance Authority, Hoag Memorial Hospital Presbyterian, Revenue Bonds | ||
Series A | ||
4.00%, due 7/15/51 | 20,500,000 | 20,073,590 |
Principal Amount | Value | |
California (continued) | ||
California School Facilities Financing Authority, Azusa Unified School District, Revenue Bonds | ||
Insured: AGM | ||
(zero coupon), due 8/1/49 | $ 15,500,000 | $ 3,713,461 |
California State University, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/44 | 23,870,000 | 26,422,935 |
California Statewide Communities Development Authority, Front Porch Communities & Services, Revenue Bonds | ||
Series A | ||
3.00%, due 4/1/37 | 4,880,000 | 4,325,259 |
Chino Valley Unified School District, Election 2016, Limited General Obligation | ||
Series B, Insured: AGM-CR | ||
3.375%, due 8/1/50 | 8,370,000 | 7,427,806 |
Series B | ||
4.00%, due 8/1/45 | 17,310,000 | 17,146,523 |
Chula Vista Elementary School District, Revenue Bonds | ||
(zero coupon), due 8/1/23 | 4,500,000 | 4,374,070 |
City of Escondido CA, Unlimited General Obligation | ||
5.00%, due 9/1/36 | 4,250,000 | 4,534,788 |
City of Long Beach CA, Airport System, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/30 | 4,500,000 | 4,511,107 |
City of Los Angeles CA, Department of Airports, Revenue Bonds | ||
Series D | ||
3.00%, due 5/15/39 (b) | 4,280,000 | 3,664,170 |
Series A | ||
4.00%, due 5/15/39 (b) | 2,540,000 | 2,521,326 |
Series D | ||
4.00%, due 5/15/51 (b) | 6,000,000 | 5,787,111 |
Series C | ||
5.00%, due 5/15/26 (b) | 4,700,000 | 5,029,958 |
Series E | ||
5.00%, due 5/15/36 (b) | 2,955,000 | 3,240,225 |
Series E | ||
5.00%, due 5/15/37 (b) | 1,000,000 | 1,095,423 |
Series F | ||
5.00%, due 5/15/37 (b) | 2,350,000 | 2,540,536 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
City of Los Angeles CA, Department of Airports, Revenue Bonds (continued) | ||
Series A | ||
5.00%, due 5/15/40 | $ 6,050,000 | $ 6,699,873 |
Series C | ||
5.00%, due 5/15/44 (b) | 3,785,000 | 4,005,241 |
Series E | ||
5.00%, due 5/15/44 (b) | 8,950,000 | 9,704,502 |
Series C | ||
5.00%, due 5/15/45 (b) | 2,500,000 | 2,728,055 |
Series A | ||
5.00%, due 5/15/51 (b) | 7,580,000 | 8,160,030 |
City of Los Angeles CA, Department of Airports, Revenue Bonds, Senior Lien | ||
Series C | ||
5.00%, due 5/15/45 (b) | 17,900,000 | 19,281,289 |
City of Los Angeles CA, Wastewater System, Green Bond, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/43 | 9,050,000 | 9,987,493 |
City of Oakland CA, Unlimited General Obligation | ||
Series C-1 | ||
5.00%, due 7/15/30 | 1,410,000 | 1,637,385 |
City of Sacramento CA, Transient Occupancy Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/28 | 2,700,000 | 2,989,792 |
Series A | ||
5.00%, due 6/1/29 | 2,915,000 | 3,224,018 |
Series A | ||
5.00%, due 6/1/30 | 4,170,000 | 4,610,660 |
Series A | ||
5.00%, due 6/1/32 | 2,260,000 | 2,488,674 |
Series A | ||
5.00%, due 6/1/33 | 1,225,000 | 1,346,770 |
Coachella Valley Unified School District, Election 2005, Unlimited General Obligation | ||
Series F, Insured: BAM | ||
5.00%, due 8/1/46 | 11,085,000 | 11,900,254 |
Principal Amount | Value | |
California (continued) | ||
Coast Community College District, Election 2012, Unlimited General Obligation | ||
Series F | ||
(zero coupon), due 8/1/43 | $ 10,700,000 | $ 4,364,907 |
Series D | ||
4.50%, due 8/1/39 | 13,200,000 | 14,505,873 |
Compton Unified School District, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
(zero coupon), due 6/1/38 | 1,250,000 | 635,157 |
Series B, Insured: BAM | ||
(zero coupon), due 6/1/39 | 4,855,000 | 2,339,847 |
Series B, Insured: BAM | ||
(zero coupon), due 6/1/40 | 1,500,000 | 684,988 |
Series B, Insured: BAM | ||
(zero coupon), due 6/1/41 | 1,750,000 | 756,607 |
Coronado Community Development Agency Successor Agency, Tax Allocation | ||
Series A | ||
5.00%, due 9/1/24 | 2,000,000 | 2,114,628 |
Corona-Norco Unified School District, Election 2014, Unlimited General Obligation | ||
Series C | ||
4.00%, due 8/1/49 | 6,200,000 | 6,131,306 |
Cotati-Rohnert Park Unified School District, Election 2016, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
5.00%, due 8/1/42 | 2,615,000 | 2,820,271 |
El Monte Union High School District, Unlimited General Obligation | ||
Series A | ||
5.00%, due 6/1/49 | 15,490,000 | 16,799,972 |
Enterprise Elementary School District, Election 2018, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
5.00%, due 8/1/49 | 4,500,000 | 4,821,706 |
Fallbrook Union High School District, Election 2016, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
4.00%, due 8/1/46 | 5,155,000 | 5,153,690 |
14 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Firebaugh-Las Deltas Unified School District, Election 2016, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.25%, due 8/1/41 | $ 2,500,000 | $ 2,770,182 |
Fontana Public Facilities Financing Authority, City of Fontana, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 9/1/32 | 1,320,000 | 1,393,197 |
Foothill-Eastern Transportation Corridor Agency, Revenue Bonds | ||
Series B-2, Insured: AGM-CR | ||
3.50%, due 1/15/53 | 4,265,000 | 3,615,287 |
Golden State Tobacco Securitization Corp., Revenue Bonds | ||
Series A-1 | ||
5.00%, due 6/1/33 | 3,000,000 | 3,412,898 |
Golden State Tobacco Securitization Corp., Asset-Backed, Revenue Bonds | ||
Series A, Insured: AGM-CR State Appropriations | ||
5.00%, due 6/1/40 | 4,610,000 | 4,957,454 |
Hartnell Community College District, Unlimited General Obligation | ||
Series B | ||
3.00%, due 8/1/48 | 6,200,000 | 5,039,014 |
Jurupa Unified School District, Election 2014, Unlimited General Obligation | ||
Series C | ||
5.25%, due 8/1/43 | 4,700,000 | 5,260,290 |
Kern Community College District, Election 2016, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
3.00%, due 8/1/46 | 4,200,000 | 3,549,315 |
Live Oak Elementary School District, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 8/1/39 | 2,705,000 | 2,920,696 |
Live Oak Unified School District, Election 2016, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
5.00%, due 8/1/48 | 1,500,000 | 1,635,007 |
Principal Amount | Value | |
California (continued) | ||
Los Angeles County Metropolitan Transportation Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/29 | $ 5,690,000 | $ 6,518,432 |
Los Angeles County Public Works Financing Authority, Green Bond, Revenue Bonds | ||
Series F | ||
4.00%, due 12/1/46 | 9,880,000 | 9,847,038 |
Los Angeles County Public Works Financing Authority, County of Los Angeles, Revenue Bonds | ||
Series E-1 | ||
5.00%, due 12/1/49 | 6,705,000 | 7,328,420 |
Los Angeles Unified School District, Unlimited General Obligation | ||
Series C | ||
4.00%, due 7/1/36 | 3,000,000 | 3,095,823 |
Series C | ||
4.00%, due 7/1/37 | 8,550,000 | 8,770,890 |
Los Angeles Unified School District, Election 2008, Unlimited General Obligation | ||
Series B-1 | ||
5.25%, due 7/1/42 | 61,755,000 | 68,152,596 |
Martinez Unified School District, Election of 2016, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 8/1/51 | 2,125,000 | 2,091,417 |
Napa Valley Unified School District, Election 2016, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 8/1/44 | 4,300,000 | 4,285,347 |
North Coast County Water District, Certificate of Participation | ||
Insured: AGM | ||
4.00%, due 10/1/46 | 1,075,000 | 1,074,748 |
Novato Unified School District, Election 2016, Unlimited General Obligation | ||
Series C | ||
2.00%, due 8/1/39 | 4,145,000 | 3,054,974 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Oakland Unified School District, Alameda County, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/27 | $ 1,160,000 | $ 1,249,814 |
Insured: AGM | ||
5.00%, due 8/1/28 | 1,755,000 | 1,889,177 |
Insured: AGM | ||
5.00%, due 8/1/29 | 2,535,000 | 2,724,712 |
Orange County Transportation Authority, 405 Improvement Project, Revenue Bonds | ||
4.00%, due 10/15/24 | 5,600,000 | 5,806,562 |
Orange County Water District, Certificate of Participation | ||
Series A | ||
4.00%, due 2/15/25 | 7,500,000 | 7,816,894 |
Paramount Unified School District, Election 2006, Unlimited General Obligation | ||
Insured: BAM | ||
(zero coupon), due 8/1/43 | 23,300,000 | 5,900,879 |
Peninsula Corridor Joint Powers Board, Green Bond, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/47 | 3,750,000 | 4,224,298 |
Series A | ||
5.00%, due 6/1/51 | 3,250,000 | 3,649,664 |
Pomona Unified School District, Election 2008, Unlimited General Obligation | ||
Series H, Insured: BAM | ||
4.00%, due 8/1/36 | 1,165,000 | 1,206,250 |
Richmond Joint Powers Financing Authority, Civic Center Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 11/1/37 | 3,160,000 | 3,491,837 |
Riverside County Redevelopment Successor Agency, Jurupa Valley Project, Tax Allocation | ||
Series B, Insured: BAM | ||
5.00%, due 10/1/30 | 2,345,000 | 2,521,439 |
Principal Amount | Value | |
California (continued) | ||
Riverside County Transportation Commission, Revenue Bonds, Senior Lien | ||
Series B-1, Insured: BAM | ||
3.00%, due 6/1/49 | $ 11,760,000 | $ 8,942,436 |
Series B-1 | ||
4.00%, due 6/1/38 | 3,500,000 | 3,468,924 |
Series B-1 | ||
4.00%, due 6/1/39 | 1,960,000 | 1,936,020 |
Series B-1 | ||
4.00%, due 6/1/40 | 1,790,000 | 1,762,052 |
Riverside County Transportation Commission, Sales Tax, Revenue Bonds | ||
Series B | ||
4.00%, due 6/1/36 | 17,950,000 | 18,360,811 |
Riverside Unified School District, Election 2016, Unlimited General Obligation | ||
Series B | ||
4.00%, due 8/1/42 | 4,250,000 | 4,279,425 |
Sacramento County Water Financing Authority, Sacramento County Water Agency, Revenue Bonds | ||
Series A | ||
4.00%, due 11/1/25 | 18,100,000 | 18,952,077 |
San Bernardino City Unified School District, Election 2012, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 8/1/30 | 1,000,000 | 1,035,357 |
San Bernardino Community College District, Election 2018, Unlimited General Obligation | ||
Series A | ||
3.00%, due 8/1/41 | 6,700,000 | 6,835,011 |
San Diego Association of Governments South Bay Expressway, South Bay Expressway, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/30 | 2,225,000 | 2,441,359 |
Series A | ||
5.00%, due 7/1/32 | 1,800,000 | 1,968,219 |
Series A | ||
5.00%, due 7/1/38 | 1,150,000 | 1,250,245 |
16 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
San Diego County Regional Airport Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/38 | $ 1,750,000 | $ 1,762,338 |
Series B, Insured: AGM-CR | ||
4.00%, due 7/1/51 (b) | 3,000,000 | 2,893,230 |
San Diego Public Facilities Financing Authority, Capital Improvement Projects, Revenue Bonds | ||
Series A | ||
5.00%, due 10/15/44 | 2,500,000 | 2,656,930 |
San Francisco City & County Airport Commission, San Francisco International Airport, Revenue Bonds, Second Series (b) | ||
Series E | ||
5.00%, due 5/1/35 | 7,350,000 | 7,935,709 |
Series E | ||
5.00%, due 5/1/37 | 6,635,000 | 7,149,222 |
Series E | ||
5.00%, due 5/1/45 | 3,000,000 | 3,190,335 |
Series A | ||
5.00%, due 5/1/47 | 8,000,000 | 8,369,713 |
San Francisco City & County Airport Commission, San Francisco International Airport, Revenue Bonds | ||
Series A | ||
5.00%, due 5/1/49 (b) | 40,205,000 | 42,593,237 |
San Francisco City & County Airport Commission, International Airport, Revenue Bonds, Second Series | ||
Series D | ||
5.25%, due 5/1/48 (b) | 8,650,000 | 9,250,832 |
San Marcos Schools Financing Authority, San Marcos Unified School District, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 8/15/34 | 1,000,000 | 1,090,394 |
Insured: AGM | ||
5.00%, due 8/15/35 | 1,000,000 | 1,089,377 |
Insured: AGM | ||
5.00%, due 8/15/36 | 1,100,000 | 1,197,756 |
Santa Clara Valley Water District, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/49 | 2,615,000 | 2,815,871 |
Principal Amount | Value | |
California (continued) | ||
Santa Monica Community College District, Election 2016, Unlimited General Obligation | ||
Series A | ||
4.00%, due 8/1/47 | $ 7,630,000 | $ 7,568,793 |
Selma Unified School District, Election 2006, Unlimited General Obligation | ||
Series D, Insured: AGM | ||
(zero coupon), due 8/1/39 | 730,000 | 345,840 |
Series D, Insured: AGM | ||
(zero coupon), due 8/1/41 | 730,000 | 314,997 |
Sierra Joint Community College District, Election 2018, Unlimited General Obligation | ||
Series A | ||
4.00%, due 8/1/53 | 3,000,000 | 2,962,840 |
Simi Valley Unified School District, Election 2016, Unlimited General Obligation | ||
Series A | ||
5.00%, due 8/1/39 | 1,000,000 | 1,096,029 |
Series A | ||
5.00%, due 8/1/40 | 1,195,000 | 1,309,754 |
Solano County Community College District, Election 2012, Unlimited General Obligation | ||
Series C | ||
5.25%, due 8/1/42 | 14,860,000 | 16,810,338 |
Southern California Public Power Authority, Revenue Bonds | ||
5.00%, due 4/1/24 | 1,700,000 | 1,775,146 |
Southern California Water Replenishment District, Revenue Bonds | ||
5.00%, due 8/1/38 | 1,750,000 | 1,942,028 |
State of California, Various Purposes, Unlimited General Obligation | ||
3.00%, due 11/1/35 | 6,950,000 | 6,354,974 |
4.00%, due 3/1/37 | 18,175,000 | 18,602,990 |
4.00%, due 3/1/38 | 7,100,000 | 7,255,156 |
4.00%, due 3/1/46 | 18,075,000 | 18,157,149 |
5.25%, due 10/1/39 | 4,885,000 | 5,306,930 |
State of California, Unlimited General Obligation | ||
4.00%, due 3/1/36 | 14,460,000 | 14,921,171 |
State of California, Various Purpose, Unlimited General Obligation | ||
4.00%, due 10/1/41 | 6,075,000 | 6,173,329 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
State of California, Various Purpose, Unlimited General Obligation (continued) | ||
5.00%, due 4/1/30 | $ 5,000,000 | $ 5,737,056 |
5.00%, due 4/1/31 | 7,000,000 | 8,121,988 |
5.00%, due 4/1/35 | 19,100,000 | 22,167,047 |
Tahoe-Truckee Unified School District, Election 2014, Unlimited General Obligation | ||
Series B | ||
5.00%, due 8/1/41 | 2,200,000 | 2,375,428 |
Temecula Valley Unified School District, Election 2012, Unlimited General Obligation | ||
Series D | ||
3.00%, due 8/1/44 | 1,500,000 | 1,285,811 |
Turlock Irrigation District, Revenue Bonds | ||
5.00%, due 1/1/44 | 3,500,000 | 3,888,971 |
Twin Rivers Unified School District, Election 2006, Unlimited General Obligation | ||
Series 2008, Insured: AGM | ||
(zero coupon), due 8/1/32 | 4,620,000 | 3,201,618 |
University of California, Revenue Bonds | ||
Series BE | ||
4.00%, due 5/15/50 | 4,750,000 | 4,690,143 |
Series AV | ||
5.00%, due 5/15/42 | 1,725,000 | 1,883,437 |
Series AZ | ||
5.00%, due 5/15/43 | 6,810,000 | 7,502,976 |
Series AZ | ||
5.25%, due 5/15/58 | 5,155,000 | 5,709,678 |
Val Verde Unified School District, Election 2012, Unlimited General Obligation | ||
Series F, Insured: AGM | ||
3.00%, due 8/1/47 | 3,695,000 | 2,984,401 |
West Contra Costa Unified School District, Unlimited General Obligation | ||
Series A-1, Insured: AGM | ||
3.00%, due 8/1/51 | 4,640,000 | 3,713,628 |
Principal Amount | Value | |
California (continued) | ||
Westminster School District, Election 2008, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
(zero coupon), due 8/1/48 | $ 13,900,000 | $ 2,422,470 |
Winters Joint Unified School District, Election 2016, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 8/1/46 | 1,400,000 | 1,525,217 |
988,896,660 | ||
Colorado 1.9% | ||
Adams 12 Five Star Schools, Unlimited General Obligation | ||
Series B, Insured: State Aid Withholding | ||
5.00%, due 12/15/30 | 7,600,000 | 8,386,698 |
Adams State University, Revenue Bonds | ||
Series A, Insured: State Higher Education Intercept Program | ||
4.00%, due 5/15/37 | 750,000 | 775,046 |
Series A, Insured: State Higher Education Intercept Program | ||
4.00%, due 5/15/39 | 1,085,000 | 1,114,454 |
Series A, Insured: State Higher Education Intercept Program | ||
4.00%, due 5/15/42 | 1,500,000 | 1,524,657 |
City & County of Denver CO, Airport System, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 12/1/25 | 4,620,000 | 4,912,833 |
Series A | ||
5.25%, due 12/1/48 | 9,000,000 | 9,581,668 |
City & County of Denver CO, Convention Center Expansion Project, Certificate of Participation | ||
Series A | ||
5.375%, due 6/1/43 | 2,375,000 | 2,588,443 |
Colorado Health Facilities Authority, AdventHealth Obligated Group, Revenue Bonds | ||
Series A | ||
3.00%, due 11/15/51 | 17,425,000 | 13,684,237 |
Series A | ||
4.00%, due 11/15/46 | 12,195,000 | 11,930,918 |
Series A | ||
4.00%, due 11/15/50 | 21,825,000 | 21,082,599 |
18 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Colorado (continued) | ||
Colorado Health Facilities Authority, CommonSpirit Health Obligated Group, Revenue Bonds | ||
Series A-2 | ||
4.00%, due 8/1/49 | $ 21,890,000 | $ 20,748,741 |
Colorado Housing and Finance Authority, Revenue Bonds | ||
Series C, Class I, Insured: GNMA | ||
4.25%, due 11/1/48 | 3,390,000 | 3,471,681 |
Denver City & County School District No. 1, Unlimited General Obligation | ||
Series A, Insured: State Aid Withholding | ||
5.00%, due 12/1/36 | 17,000,000 | 19,820,067 |
Series A, Insured: State Aid Withholding | ||
5.00%, due 12/1/45 | 6,785,000 | 7,765,118 |
Denver Convention Center Hotel Authority, Revenue Bonds, Senior Lien | ||
5.00%, due 12/1/36 | 1,000,000 | 1,042,140 |
Eagle County School District No. Re50J, Certificate of Participation | ||
Insured: AGM | ||
4.00%, due 12/1/51 | 6,555,000 | 6,643,863 |
Regional Transportation District, Certificate of Participation | ||
Series A | ||
4.50%, due 6/1/44 | 9,075,000 | 9,220,821 |
South Suburban Park & Recreation District, Unlimited General Obligation | ||
4.00%, due 12/15/38 | 1,140,000 | 1,202,320 |
Vista Ridge Metropolitan District, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 12/1/31 | 1,250,000 | 1,352,109 |
146,848,413 | ||
Connecticut 1.9% | ||
City of Bridgeport CT, Unlimited General Obligation | ||
Series D, Insured: AGM | ||
5.00%, due 8/15/33 | 2,590,000 | 2,817,634 |
Series D, Insured: AGM | ||
5.00%, due 8/15/34 | 2,590,000 | 2,813,271 |
Principal Amount | Value | |
Connecticut (continued) | ||
City of Bridgeport CT, Unlimited General Obligation (continued) | ||
Series D, Insured: AGM | ||
5.00%, due 8/15/35 | $ 2,840,000 | $ 3,082,434 |
Series D, Insured: AGM | ||
5.00%, due 8/15/36 | 2,840,000 | 3,077,664 |
City of Hartford CT, Unlimited General Obligation | ||
Series A, Insured: State Guaranteed | ||
5.00%, due 4/1/28 | 2,500,000 | 2,506,554 |
Series A, Insured: State Guaranteed | ||
5.00%, due 4/1/29 | 895,000 | 897,292 |
Series A, Insured: AGM State Guaranteed | ||
5.00%, due 4/1/32 | 195,000 | 195,498 |
Series C, Insured: AGM State Guaranteed | ||
5.00%, due 7/15/32 | 6,670,000 | 7,118,510 |
Series C, Insured: AGM State Guaranteed | ||
5.00%, due 7/15/34 | 2,500,000 | 2,665,735 |
City of New Haven CT, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 8/15/29 | 1,450,000 | 1,564,062 |
Connecticut Housing Finance Authority, Revenue Bonds | ||
Series C-1 | ||
4.00%, due 11/15/45 | 2,855,000 | 2,909,335 |
Series B-1 | ||
4.00%, due 5/15/49 | 2,170,000 | 2,216,862 |
State of Connecticut, Unlimited General Obligation | ||
Series A | ||
3.00%, due 1/15/37 | 4,920,000 | 4,432,675 |
Series A | ||
4.00%, due 4/15/37 | 2,670,000 | 2,766,571 |
Series A | ||
5.00%, due 3/1/28 | 1,990,000 | 2,076,625 |
Series F | ||
5.00%, due 9/15/28 | 11,510,000 | 12,957,856 |
Series B, Insured: AGM-CR | ||
5.00%, due 6/15/31 | 3,550,000 | 3,783,171 |
Series C | ||
5.00%, due 6/15/33 | 1,775,000 | 1,966,919 |
Series E, Insured: BAM | ||
5.00%, due 9/15/33 | 4,000,000 | 4,503,888 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Connecticut (continued) | ||
State of Connecticut, Unlimited General Obligation (continued) | ||
Series C | ||
5.00%, due 6/15/34 | $ 1,375,000 | $ 1,521,965 |
Series A | ||
5.00%, due 4/15/35 | 5,250,000 | 5,713,591 |
Series E, Insured: BAM | ||
5.00%, due 9/15/35 | 2,075,000 | 2,328,846 |
Series A | ||
5.00%, due 4/15/36 | 1,800,000 | 2,003,817 |
Series E, Insured: BAM | ||
5.00%, due 9/15/37 | 2,000,000 | 2,241,163 |
Series A | ||
5.00%, due 4/15/39 | 1,250,000 | 1,385,897 |
Series A | ||
5.00%, due 1/15/40 | 750,000 | 832,098 |
State of Connecticut, Transportation Infrastructure, Special Tax, Revenue Bonds | ||
Series A | ||
3.125%, due 5/1/40 | 3,750,000 | 3,321,639 |
Series A | ||
5.00%, due 9/1/30 | 4,250,000 | 4,463,997 |
Series A | ||
5.00%, due 9/1/30 | 1,830,000 | 1,985,235 |
Series A | ||
5.00%, due 1/1/31 | 4,250,000 | 4,696,545 |
Series A, Insured: BAM | ||
5.00%, due 9/1/31 | 12,870,000 | 14,082,384 |
Series A | ||
5.00%, due 9/1/33 | 11,700,000 | 12,643,000 |
Series A | ||
5.00%, due 9/1/34 | 3,250,000 | 3,405,395 |
Series A | ||
5.00%, due 1/1/36 | 3,575,000 | 3,917,865 |
State of Connecticut, Special Tax, Special Tax | ||
Series A, Insured: BAM | ||
4.00%, due 5/1/39 | 9,850,000 | 10,218,625 |
University of Connecticut, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/33 | 2,000,000 | 2,216,226 |
Series A | ||
5.00%, due 11/1/35 | 3,490,000 | 3,854,804 |
145,185,648 |
Principal Amount | Value | |
Delaware 0.6% | ||
Delaware State Health Facilities Authority, Christiana Health Care System Obligated Group, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/34 | $ 5,560,000 | $ 6,291,831 |
Series A | ||
5.00%, due 10/1/35 | 7,185,000 | 8,121,606 |
Series A | ||
5.00%, due 10/1/37 | 8,135,000 | 9,179,463 |
Series A | ||
5.00%, due 10/1/38 | 4,250,000 | 4,788,223 |
Series A | ||
5.00%, due 10/1/45 | 17,075,000 | 19,013,245 |
47,394,368 | ||
District of Columbia 1.2% | ||
District of Columbia, Bryant Street Project, Tax Allocation | ||
4.00%, due 6/1/39 | 2,120,000 | 2,193,957 |
4.00%, due 6/1/43 | 2,035,000 | 2,089,838 |
District of Columbia, Friendship Public Charter School, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/42 | 4,750,000 | 4,833,876 |
District of Columbia Water & Sewer Authority, Revenue Bonds, Sub. Lien | ||
Series A | ||
5.00%, due 10/1/44 | 10,780,000 | 12,124,362 |
Metropolitan Washington Airports Authority, Airport System, Revenue Bonds (b) | ||
Series A | ||
4.00%, due 10/1/36 | 2,350,000 | 2,376,748 |
Series A | ||
5.00%, due 10/1/33 | 2,925,000 | 3,209,887 |
Metropolitan Washington Airports Authority, Dulles Toll Road, Metrorail & Capital Improvement Project, Revenue Bonds, Second Lien | ||
Series C, Insured: AGC | ||
6.50%, due 10/1/41 | 7,100,000 | 8,248,762 |
20 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
District of Columbia (continued) | ||
Metropolitan Washington Airports Authority Aviation, Revenue Bonds (b) | ||
Series A | ||
4.00%, due 10/1/41 | $ 2,700,000 | $ 2,676,888 |
Series A | ||
5.00%, due 10/1/35 | 3,645,000 | 4,023,743 |
Series B | ||
5.00%, due 10/1/35 | 19,410,000 | 20,240,725 |
Metropolitan Washington Airports Authority Dulles Toll Road, Dulles Toll Road, Metrorail & Capital Improvement Project, Revenue Bonds, Sub. Lien | ||
Series B | ||
4.00%, due 10/1/39 | 1,000,000 | 1,015,364 |
Series B | ||
5.00%, due 10/1/33 | 1,500,000 | 1,654,509 |
Metropolitan Washington Airports Authority Dulles Toll Road, Dulles Toll Road, Metrorail & Capital Improvement Project, Revenue Bonds, Senior Lien | ||
Series B | ||
6.50%, due 10/1/44 | 6,340,000 | 7,514,332 |
Metropolitan Washington Airports Authority Dulles Toll Road, Revenue Bonds, Senior Lien | ||
Series A, Insured: AGM | ||
4.00%, due 10/1/52 | 7,050,000 | 6,951,884 |
Washington Metropolitan Area Transit Authority, Green bond, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 7/15/36 | 5,425,000 | 5,022,349 |
Series A | ||
3.00%, due 7/15/40 | 8,550,000 | 7,511,054 |
91,688,278 | ||
Florida 5.6% | ||
Central Florida Expressway Authority, Revenue Bonds, Senior Lien | ||
Insured: AGM | ||
4.00%, due 7/1/37 | 1,000,000 | 1,034,036 |
City of Fort Myers FL, Revenue Bonds | ||
Series B, Insured: AGM | ||
5.00%, due 10/1/26 | 4,525,000 | 4,975,971 |
Principal Amount | Value | |
Florida (continued) | ||
City of Gainesville FL, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/44 | $ 6,025,000 | $ 6,667,062 |
Series A | ||
5.00%, due 10/1/47 | 5,280,000 | 5,814,384 |
City of Miami Beach FL, Beach Parking, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 9/1/40 | 2,500,000 | 2,658,526 |
City of Miami FL, Parking System, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 10/1/33 | 1,520,000 | 1,594,042 |
Insured: BAM | ||
4.00%, due 10/1/36 | 2,845,000 | 2,969,211 |
Insured: BAM | ||
4.00%, due 10/1/37 | 2,535,000 | 2,626,973 |
Insured: BAM | ||
4.00%, due 10/1/38 | 1,675,000 | 1,730,808 |
Insured: BAM | ||
4.00%, due 10/1/39 | 2,520,000 | 2,599,883 |
City of Orlando FL, Tourist Development Tax, Revenue Bonds, Third Lien | ||
Series C, Insured: AGC | ||
5.50%, due 11/1/38 | 1,600,000 | 1,603,880 |
City of South Miami FL, Miami Health Facilities Authority, Inc., Revenue Bonds | ||
5.00%, due 8/15/42 | 18,050,000 | 19,354,250 |
City of Tampa FL, Revenue Bonds | ||
Series C, Insured: BAM | ||
3.00%, due 10/1/36 | 4,690,000 | 4,387,076 |
County of Broward FL, Tourist Development Tax, Revenue Bonds | ||
4.00%, due 9/1/41 | 12,250,000 | 12,369,377 |
4.00%, due 9/1/47 | 6,470,000 | 6,428,176 |
4.00%, due 9/1/51 | 9,150,000 | 9,020,618 |
County of Broward FL, Airport System, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/49 (b) | 3,500,000 | 3,711,533 |
County of Broward FL, Convention Center Hotel, Revenue Bonds | ||
5.50%, due 1/1/55 | 25,000,000 | 28,516,792 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Florida (continued) | ||
County of Lee FL, Airport, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/29 | $ 5,950,000 | $ 6,530,964 |
Series A | ||
5.00%, due 10/1/30 | 6,000,000 | 6,606,322 |
Series A | ||
5.00%, due 10/1/32 | 2,200,000 | 2,416,788 |
Series B | ||
5.00%, due 10/1/34 | 5,380,000 | 5,888,782 |
Series B | ||
5.00%, due 10/1/35 | 5,685,000 | 6,214,204 |
Series B | ||
5.00%, due 10/1/39 | 6,440,000 | 6,998,577 |
County of Miami-Dade, Seaport Department, Revenue Bonds | ||
Series B-1 | ||
4.00%, due 10/1/46 (b) | 5,635,000 | 5,530,227 |
County of Miami-Dade FL, Water & Sewer System, Revenue Bonds | ||
3.00%, due 10/1/36 | 2,100,000 | 1,906,115 |
4.00%, due 10/1/44 | 2,750,000 | 2,782,245 |
Series A | ||
4.00%, due 10/1/44 | 8,550,000 | 8,708,260 |
Series B | ||
5.00%, due 10/1/31 | 9,050,000 | 9,666,924 |
Series B | ||
5.00%, due 10/1/44 | 18,175,000 | 20,200,000 |
County of Miami-Dade FL, Aviation, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/39 | 675,000 | 676,891 |
Series A | ||
4.00%, due 10/1/40 | 1,750,000 | 1,752,039 |
County of Miami-Dade FL, Unlimited General Obligation | ||
Series A | ||
4.00%, due 7/1/45 | 9,500,000 | 9,703,620 |
County of Miami-Dade FL, Revenue Bonds | ||
Series B | ||
5.00%, due 4/1/27 | 3,760,000 | 4,142,244 |
County of Miami-Dade FL, Seaport Department, Revenue Bonds | ||
Series A-1, Insured: AGM | ||
4.00%, due 10/1/45 (b) | 14,115,000 | 13,752,264 |
Principal Amount | Value | |
Florida (continued) | ||
County of Miami-Dade FL, Transit System, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/48 | $ 7,155,000 | $ 7,210,405 |
Series A | ||
4.00%, due 7/1/50 | 10,085,000 | 10,041,043 |
County of Orange FL, Water Utility System, Revenue Bonds | ||
5.00%, due 10/1/40 | 2,325,000 | 2,619,876 |
County of Seminole FL, Water & Sewer, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/28 | 5,035,000 | 5,249,113 |
Florida Governmental Utility Authority, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 10/1/37 | 1,375,000 | 1,424,887 |
Insured: AGM | ||
4.00%, due 10/1/39 | 1,400,000 | 1,446,228 |
Florida Keys Aqueduct Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/49 | 5,250,000 | 5,541,945 |
Greater Orlando Aviation Authority, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/29 | 3,750,000 | 4,154,874 |
Series A | ||
5.00%, due 10/1/33 | 4,500,000 | 4,908,124 |
Series A | ||
5.00%, due 10/1/34 | 4,500,000 | 4,901,837 |
Hillsborough County Aviation Authority, Tampa International Airport, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/25 (b) | 2,500,000 | 2,657,868 |
Series B | ||
5.00%, due 10/1/26 | 1,625,000 | 1,772,778 |
Series A | ||
5.00%, due 10/1/27 (b) | 2,500,000 | 2,719,335 |
Series B | ||
5.00%, due 10/1/27 | 2,505,000 | 2,771,954 |
Series A | ||
5.00%, due 10/1/29 (b) | 2,250,000 | 2,492,924 |
JEA Electric System, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/36 | 3,750,000 | 3,856,576 |
22 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Florida (continued) | ||
Miami-Dade County Health Facilities Authority, Nicklaus Children's Hospital, Revenue Bonds | ||
Series A | ||
4.00%, due 8/1/42 | $ 615,000 | $ 616,768 |
Series A | ||
4.00%, due 8/1/46 | 5,460,000 | 5,391,778 |
Series A | ||
4.00%, due 8/1/51 | 21,340,000 | 20,824,797 |
North Sumter County Utility Dependent District, Sumter Water Conservation Authority Project, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 10/1/46 | 8,950,000 | 10,093,797 |
Insured: AGM | ||
5.00%, due 10/1/52 | 9,700,000 | 10,899,084 |
Okaloosa County School Board, Certificate of Participation | ||
Series A | ||
5.00%, due 10/1/25 | 1,000,000 | 1,078,636 |
Series A | ||
5.00%, due 10/1/28 | 2,250,000 | 2,530,336 |
Series A | ||
5.00%, due 10/1/30 | 2,050,000 | 2,351,662 |
Orange County Health Facilities Authority, Presbyterian Retirement Communities, Inc., Revenue Bonds | ||
5.00%, due 8/1/31 | 1,500,000 | 1,595,525 |
Polk County School District, Revenue Bonds | ||
5.00%, due 10/1/27 | 3,750,000 | 4,179,483 |
Putnam County Development Authority, Seminole Electric Cooperative, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 3/15/42 | 4,250,000 | 4,634,748 |
South Broward Hospital District, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 5/1/51 | 25,990,000 | 20,861,045 |
State of Florida Department of Transportation, Revenue Bonds | ||
3.00%, due 7/1/32 | 6,800,000 | 6,543,990 |
3.00%, due 7/1/33 | 7,010,000 | 6,702,944 |
Principal Amount | Value | |
Florida (continued) | ||
State of Florida Department of Transportation Turnpike System, Revenue Bonds | ||
Series C | ||
3.00%, due 7/1/35 | $ 7,935,000 | $ 7,371,210 |
Village Community Development District No. 8, Special Assessment | ||
Insured: AGM | ||
3.50%, due 5/1/40 | 5,250,000 | 5,158,239 |
West Palm Beach Community Redevelopment Agency, City Center Community Redevelopment Area, Tax Allocation | ||
5.00%, due 3/1/34 | 8,950,000 | 10,045,310 |
5.00%, due 3/1/35 | 9,520,000 | 10,672,667 |
Wildwood Utility Dependent District, South Sumter Utility Project, Revenue Bonds, Senior Lien | ||
Insured: BAM | ||
5.00%, due 10/1/52 | 4,000,000 | 4,360,108 |
431,220,958 | ||
Georgia 3.9% | ||
Atlanta Development Authority (The), New Downtown Atlanta Stadium Project, Revenue Bonds | ||
Series A-1 | ||
5.00%, due 7/1/33 | 1,000,000 | 1,058,012 |
Brookhaven Development Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/44 | 7,065,000 | 7,107,164 |
Series A | ||
4.00%, due 7/1/49 | 8,600,000 | 8,589,231 |
Series A | ||
5.00%, due 7/1/32 | 1,550,000 | 1,732,543 |
Series A | ||
5.00%, due 7/1/33 | 2,130,000 | 2,372,211 |
Series A | ||
5.00%, due 7/1/35 | 1,900,000 | 2,103,256 |
Series A | ||
5.00%, due 7/1/36 | 2,600,000 | 2,870,097 |
Series A | ||
5.00%, due 7/1/37 | 2,550,000 | 2,810,547 |
Series A | ||
5.00%, due 7/1/38 | 2,250,000 | 2,476,171 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Georgia (continued) | ||
Brookhaven Development Authority, Children's Healthcare of Atlanta, Revenue Bonds (continued) | ||
Series A | ||
5.00%, due 7/1/39 | $ 1,300,000 | $ 1,428,552 |
City of Dalton (The) GA, Georgia Combined Utilities, Revenue Bonds | ||
5.00%, due 3/1/30 | 2,055,000 | 2,274,763 |
Cobb County Kennestone Hospital Authority, WellStar Health System, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/52 | 24,160,000 | 23,220,717 |
Coweta County Development Authority, Piedmont Healthcare, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/44 | 4,250,000 | 4,655,323 |
Gainesville & Hall County Hospital Authority, Northeast Health System, Inc. Project, Revenue Bonds | ||
Series A, Insured: County Guaranteed | ||
5.25%, due 8/15/49 | 4,405,000 | 4,738,332 |
Georgia Ports Authority, Revenue Bonds | ||
4.00%, due 7/1/43 | 3,750,000 | 3,776,924 |
4.00%, due 7/1/46 | 8,500,000 | 8,368,368 |
4.00%, due 7/1/51 | 13,500,000 | 13,264,464 |
Main Street Natural Gas, Inc., Revenue Bonds | ||
Series C | ||
4.00%, due 5/1/52 (a) | 51,980,000 | 52,972,792 |
Series A | ||
5.00%, due 5/15/35 | 2,750,000 | 3,016,245 |
Series A | ||
5.00%, due 5/15/36 | 3,200,000 | 3,518,292 |
Municipal Electric Authority of Georgia, Revenue Bonds | ||
Series A | ||
4.00%, due 1/1/41 | 2,545,000 | 2,527,032 |
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project, Revenue Bonds | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/51 | 9,590,000 | 9,236,213 |
Principal Amount | Value | |
Georgia (continued) | ||
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project, Revenue Bonds (continued) | ||
Series A | ||
5.00%, due 1/1/37 | $ 1,000,000 | $ 1,087,592 |
Series A | ||
5.00%, due 1/1/38 | 1,340,000 | 1,455,451 |
Series A, Insured: BAM | ||
5.00%, due 1/1/49 | 49,645,000 | 53,888,560 |
Series A, Insured: BAM | ||
5.00%, due 1/1/56 | 5,200,000 | 5,637,644 |
Series A | ||
5.00%, due 1/1/59 | 8,950,000 | 9,524,396 |
Series B | ||
5.00%, due 1/1/59 | 7,100,000 | 7,456,199 |
Series A | ||
5.50%, due 7/1/60 | 7,250,000 | 7,709,003 |
Municipal Electric Authority of Georgia, Project One Subordinated Bonds, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/35 | 4,250,000 | 4,463,443 |
Series A | ||
5.00%, due 1/1/45 | 3,300,000 | 3,609,430 |
Series A | ||
5.00%, due 1/1/50 | 3,500,000 | 3,805,776 |
Paulding County Hospital Authority, WellStar Health System, Inc., Revenue Bonds | ||
5.00%, due 4/1/42 | 10,900,000 | 11,931,951 |
5.00%, due 4/1/43 | 7,010,000 | 7,659,434 |
Private Colleges & Universities Authority, Savannah College of Art & Design, Revenue Bonds | ||
4.00%, due 4/1/38 | 1,400,000 | 1,436,353 |
4.00%, due 4/1/39 | 2,250,000 | 2,304,202 |
4.00%, due 4/1/41 | 1,900,000 | 1,939,413 |
4.00%, due 4/1/44 | 5,400,000 | 5,475,544 |
Private Colleges & Universities Authority, Emory University, Revenue Bonds | ||
Series B | ||
5.00%, due 9/1/25 | 2,750,000 | 2,963,295 |
24 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Georgia (continued) | ||
Private Colleges & Universities Authority, Emory University, Green Bond, Revenue Bonds | ||
Series B | ||
5.00%, due 9/1/48 | $ 4,400,000 | $ 4,874,780 |
301,339,715 | ||
Guam 0.3% | ||
Antonio B Won Pat International Airport Authority, Revenue Bonds (b) | ||
Series C, Insured: AGM | ||
6.125%, due 10/1/43 | 3,575,000 | 3,760,342 |
Series C, Insured: AGM | ||
6.125%, due 10/1/43 | 925,000 | 968,740 |
Guam Government Waterworks Authority, Water and Wastewater System, Revenue Bonds | ||
5.00%, due 7/1/40 | 1,730,000 | 1,852,903 |
5.00%, due 1/1/46 | 4,500,000 | 4,758,828 |
Series A | ||
5.00%, due 1/1/50 | 1,660,000 | 1,795,454 |
5.25%, due 7/1/33 | 1,000,000 | 1,034,185 |
Guam Power Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/30 | 4,860,000 | 4,928,342 |
Series A, Insured: AGM | ||
5.00%, due 10/1/44 | 655,000 | 683,014 |
Territory of Guam, Section 30, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/27 | 2,265,000 | 2,440,947 |
Series A | ||
5.00%, due 12/1/34 | 2,290,000 | 2,439,214 |
24,661,969 | ||
Hawaii 0.3% | ||
City & County of Honolulu HI, Unlimited General Obligation | ||
Series B | ||
5.00%, due 7/1/29 | 4,250,000 | 4,865,000 |
State of Hawaii, Unlimited General Obligation | ||
Series FT | ||
5.00%, due 1/1/30 | 4,000,000 | 4,467,185 |
Principal Amount | Value | |
Hawaii (continued) | ||
State of Hawaii Department of Budget & Finance, Hawaiian Electric Co., Inc., Revenue Bonds | ||
3.50%, due 10/1/49 | $ 6,200,000 | $ 5,669,787 |
State of Hawaii State Highway Fund, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/38 | 2,765,000 | 3,072,616 |
Series A | ||
5.00%, due 1/1/39 | 2,900,000 | 3,218,123 |
Series A | ||
5.00%, due 1/1/40 | 2,140,000 | 2,371,629 |
23,664,340 | ||
Idaho 0.3% | ||
Idaho Housing & Finance Association, Federal Highway Trust Fund, Revenue Bonds | ||
Series A | ||
5.00%, due 7/15/36 | 15,270,000 | 17,237,935 |
Series A | ||
5.00%, due 7/15/37 | 8,750,000 | 9,868,741 |
27,106,676 | ||
Illinois 9.2% | ||
Champaign & Piatt Counties Community Unit, School District No. 3, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/24 | 1,175,000 | 1,238,874 |
Chicago Board of Education, Capital Appreciation, School Reform, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/1/26 | 17,995,000 | 15,308,814 |
Chicago Board of Education, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/27 | 7,300,000 | 8,011,820 |
Chicago Board of Education, Revenue Bonds | ||
6.00%, due 4/1/46 | 17,560,000 | 19,114,935 |
Chicago O'Hare International Airport, Revenue Bonds, Senior Lien | ||
Series A, Insured: AGM | ||
4.00%, due 1/1/37 | 13,500,000 | 13,848,382 |
Series A, Insured: BAM | ||
4.00%, due 1/1/37 | 10,690,000 | 10,965,867 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Chicago O'Hare International Airport, Revenue Bonds, Senior Lien (continued) | ||
Series B, Insured: AGM | ||
4.00%, due 1/1/53 | $ 8,950,000 | $ 8,840,237 |
Series C | ||
5.00%, due 1/1/35 | 5,250,000 | 5,579,400 |
Series D | ||
5.00%, due 1/1/47 (b) | 4,500,000 | 4,685,369 |
Chicago O'Hare International Airport, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/32 (b) | 13,550,000 | 14,063,374 |
Chicago O'Hare International Airport, Passenger Facility Charge, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/30 | 2,915,000 | 2,922,195 |
Series B | ||
5.00%, due 1/1/31 (b) | 2,000,000 | 2,004,461 |
Chicago Park District, Limited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/31 | 1,955,000 | 1,986,009 |
Series C, Insured: BAM | ||
4.00%, due 1/1/38 | 2,550,000 | 2,574,119 |
Series A | ||
5.00%, due 1/1/28 | 1,000,000 | 1,066,309 |
Series A | ||
5.00%, due 1/1/29 | 750,000 | 798,078 |
Series A | ||
5.00%, due 1/1/31 | 1,000,000 | 1,060,287 |
Series A | ||
5.00%, due 1/1/35 | 2,000,000 | 2,112,720 |
Chicago Park District, Unlimited General Obligation | ||
Series F-2 | ||
4.00%, due 1/1/38 | 1,150,000 | 1,154,809 |
Series F-2 | ||
5.00%, due 1/1/37 | 2,050,000 | 2,253,417 |
Chicago Park District, Personal Property Replacement Tax, Unlimited General Obligation | ||
Series D, Insured: BAM | ||
4.00%, due 1/1/34 | 3,805,000 | 3,862,628 |
Principal Amount | Value | |
Illinois (continued) | ||
Chicago Park District, Limited Tax, Limited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 1/1/29 | $ 2,500,000 | $ 2,604,584 |
Series A | ||
5.50%, due 1/1/33 | 2,000,000 | 2,104,875 |
Series A | ||
5.75%, due 1/1/38 | 3,500,000 | 3,697,713 |
Chicago Park District, Special Recreation Activity Alternate Revenue Source, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 11/15/30 | 1,435,000 | 1,596,234 |
Chicago Transit Authority Sales Tax Receipts Fund, Revenue Bonds, Second Lien | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/50 | 35,000,000 | 34,846,854 |
Series A, Insured: BAM | ||
5.00%, due 12/1/46 | 42,500,000 | 46,449,415 |
Chicago Transit Authority Sales Tax Receipts Fund, Revenue Bonds | ||
5.25%, due 12/1/49 | 9,000,000 | 9,434,905 |
City of Chicago Heights IL, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
5.25%, due 12/1/34 | 2,115,000 | 2,347,982 |
City of Chicago IL, Unlimited General Obligation | ||
Series A | ||
4.00%, due 1/1/35 | 2,300,000 | 2,180,734 |
Series A | ||
4.00%, due 1/1/36 | 4,000,000 | 3,773,025 |
Series B | ||
4.00%, due 1/1/37 | 5,000,000 | 4,691,232 |
Series A | ||
5.00%, due 1/1/30 | 1,385,000 | 1,489,575 |
Series A | ||
5.00%, due 1/1/33 | 1,500,000 | 1,604,277 |
Series A | ||
5.00%, due 1/1/34 | 11,080,000 | 11,814,385 |
Series A | ||
5.50%, due 1/1/49 | 8,950,000 | 9,621,997 |
Series A | ||
6.00%, due 1/1/38 | 38,550,000 | 42,213,962 |
Series A, Insured: BAM | ||
6.00%, due 1/1/38 | 5,250,000 | 5,786,578 |
26 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
City of Chicago IL, Waterworks, Revenue Bonds, Second Lien | ||
4.00%, due 11/1/37 | $ 1,250,000 | $ 1,256,689 |
Series 2, Insured: AGM | ||
5.00%, due 11/1/28 | 2,000,000 | 2,250,116 |
Series 2, Insured: AGM | ||
5.00%, due 11/1/30 | 2,500,000 | 2,780,111 |
Series 2, Insured: AGM | ||
5.00%, due 11/1/32 | 4,250,000 | 4,705,640 |
Series 2, Insured: AGM | ||
5.00%, due 11/1/33 | 9,050,000 | 10,010,554 |
Series 2, Insured: AGM | ||
5.00%, due 11/1/38 | 3,000,000 | 3,320,022 |
Insured: AGM | ||
5.25%, due 11/1/33 | 4,250,000 | 4,754,701 |
Insured: AGM | ||
5.25%, due 11/1/34 | 1,860,000 | 2,078,878 |
Insured: AGM | ||
5.25%, due 11/1/35 | 2,525,000 | 2,830,300 |
City of Chicago IL, Waterworks, Project, Revenue Bonds, Second Lien | ||
5.00%, due 11/1/27 | 1,655,000 | 1,739,987 |
5.00%, due 11/1/29 | 1,700,000 | 1,781,439 |
City of Chicago IL, Wastewater Transmission Project, Revenue Bonds, Second Lien | ||
5.00%, due 1/1/28 | 1,000,000 | 1,031,745 |
Series B, Insured: AGM-CR | ||
5.00%, due 1/1/30 | 6,735,000 | 7,403,531 |
5.00%, due 1/1/33 | 2,000,000 | 2,060,535 |
Series B | ||
5.00%, due 1/1/33 | 2,240,000 | 2,417,499 |
5.00%, due 1/1/39 | 7,520,000 | 7,722,996 |
5.00%, due 1/1/44 | 11,840,000 | 12,165,413 |
Series A, Insured: AGM | ||
5.25%, due 1/1/42 | 3,500,000 | 3,851,643 |
City of Chicago IL, Motor Fuel Tax, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 1/1/33 | 3,975,000 | 4,151,229 |
Cook County Community College District No. 508, Unlimited General Obligation | ||
Insured: BAM | ||
5.50%, due 12/1/38 | 4,250,000 | 4,448,951 |
Principal Amount | Value | |
Illinois (continued) | ||
Cook County Community High School District No. 212 Leyden, Revenue Bonds | ||
Series C, Insured: BAM | ||
5.00%, due 12/1/30 | $ 2,870,000 | $ 3,041,446 |
Series C, Insured: BAM | ||
5.00%, due 12/1/31 | 2,360,000 | 2,499,768 |
County of Will IL, Unlimited General Obligation | ||
5.00%, due 11/15/45 | 16,100,000 | 17,447,314 |
Hoffman Estates Park District, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 12/1/30 | 2,750,000 | 3,072,543 |
Illinois Finance Authority, Carle Foundation Obligated Group (The), Revenue Bonds | ||
Series A | ||
4.00%, due 8/15/39 | 6,500,000 | 6,403,827 |
Illinois Finance Authority, University of Chicago (The), Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/25 | 2,750,000 | 2,969,053 |
Illinois Sports Facilities Authority (The), Revenue Bonds | ||
Insured: AGM | ||
5.25%, due 6/15/31 | 4,250,000 | 4,404,246 |
Illinois State Toll Highway Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/44 | 10,000,000 | 10,993,605 |
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 6/15/36 | 52,950,000 | 28,311,783 |
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Capital Appreciation, Revenue Bonds | ||
Series B-1, Insured: AGM | ||
(zero coupon), due 6/15/44 | 9,250,000 | 3,351,768 |
Metropolitan Water Reclamation District of Greater Chicago, Limited General Obligation | ||
Series C | ||
5.00%, due 12/1/30 | 2,750,000 | 3,164,315 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Metropolitan Water Reclamation District of Greater Chicago, Limited General Obligation (continued) | ||
Series C | ||
5.00%, due 12/1/32 | $ 3,000,000 | $ 3,446,996 |
Railsplitter Tobacco Settlement Authority, Revenue Bonds | ||
5.00%, due 6/1/27 | 4,250,000 | 4,544,775 |
Rock Island County Public Building Commission, County of Rock Island, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 12/1/36 | 2,395,000 | 2,614,165 |
Sales Tax Securitization Corp., Revenue Bonds | ||
Series A | ||
4.00%, due 1/1/48 | 14,250,000 | 14,051,764 |
Series C | ||
5.00%, due 1/1/33 | 2,000,000 | 2,186,070 |
Series A | ||
5.00%, due 1/1/40 | 6,415,000 | 6,931,286 |
Series C | ||
5.00%, due 1/1/43 | 11,400,000 | 12,291,406 |
Series C | ||
5.25%, due 1/1/35 | 8,000,000 | 8,840,003 |
Series C | ||
5.25%, due 1/1/43 | 17,900,000 | 19,561,986 |
Sales Tax Securitization Corp., Revenue Bonds, Second Lien | ||
Series A, Insured: BAM | ||
5.00%, due 1/1/37 | 1,650,000 | 1,830,097 |
Sangamon County School District No. 186 Springfield, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
5.00%, due 6/1/28 | 1,005,000 | 1,114,632 |
Series C, Insured: AGM | ||
5.00%, due 6/1/34 | 1,000,000 | 1,129,593 |
Series C, Insured: AGM | ||
5.00%, due 6/1/38 | 1,635,000 | 1,837,347 |
Series C, Insured: AGM | ||
5.00%, due 6/1/39 | 1,000,000 | 1,121,909 |
Southern Illinois University, Housing & Auxiliary Facilities System, Revenue Bonds | ||
Series 2015B, Insured: BAM | ||
5.00%, due 4/1/26 | 1,175,000 | 1,248,010 |
Principal Amount | Value | |
Illinois (continued) | ||
Southern Illinois University, Housing & Auxiliary Facilities System, Revenue Bonds (continued) | ||
Series B, Insured: BAM | ||
5.00%, due 4/1/29 | $ 1,620,000 | $ 1,710,423 |
Series B, Insured: BAM | ||
5.00%, due 4/1/30 | 1,000,000 | 1,052,959 |
State of Illinois, Sales Tax, Revenue Bonds | ||
Series C | ||
4.00%, due 6/15/27 | 2,000,000 | 2,035,001 |
State of Illinois, Sales Tax, Revenue Bonds, Junior Lien | ||
Series C | ||
5.00%, due 6/15/30 | 3,250,000 | 3,542,217 |
State of Illinois, Unlimited General Obligation | ||
Series C | ||
4.00%, due 10/1/40 | 4,500,000 | 4,244,347 |
Insured: BAM | ||
4.00%, due 6/1/41 | 9,050,000 | 8,966,273 |
Series D | ||
5.00%, due 11/1/26 | 7,775,000 | 8,336,331 |
5.00%, due 2/1/27 | 4,230,000 | 4,545,131 |
5.00%, due 1/1/28 | 5,405,000 | 5,726,859 |
5.00%, due 2/1/28 | 9,025,000 | 9,649,986 |
Series D | ||
5.00%, due 11/1/28 | 6,580,000 | 7,069,457 |
5.25%, due 2/1/32 | 9,050,000 | 9,300,395 |
5.50%, due 5/1/39 | 13,475,000 | 14,669,434 |
5.75%, due 5/1/45 | 4,500,000 | 4,937,720 |
Series A | ||
6.00%, due 5/1/27 | 8,690,000 | 9,753,728 |
United City of Yorkville IL, Special Tax | ||
Insured: AGM | ||
5.00%, due 3/1/32 | 3,267,000 | 3,448,903 |
University of Illinois, University of Illinois Auxiliary Facilities System, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 4/1/35 | 2,995,000 | 2,805,435 |
Village of Bellwood IL, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/1/29 | 1,500,000 | 1,621,487 |
Village of Oswego IL, Unlimited General Obligation | ||
5.00%, due 12/15/33 | 6,745,000 | 7,277,123 |
28 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Village of Rosemont IL, Corporate Purpose, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/40 | $ 7,190,000 | $ 7,796,516 |
Village of Schaumburg IL, Unlimited General Obligation | ||
Series A | ||
4.00%, due 12/1/41 | 33,800,000 | 34,197,562 |
Western Illinois Economic Development Authority, City of Quincy, Revenue Bonds | ||
Series B, Insured: BAM | ||
4.00%, due 12/1/34 | 1,500,000 | 1,555,132 |
715,124,536 | ||
Indiana 0.6% | ||
Indiana Finance Authority, Marion County Capital Improvement Board, Revenue Bonds | ||
Series A | ||
5.00%, due 2/1/29 | 6,350,000 | 7,162,851 |
Indiana University, Revenue Bonds | ||
Series A | ||
4.00%, due 6/1/32 | 2,095,000 | 2,241,641 |
Series A | ||
4.00%, due 6/1/33 | 1,885,000 | 2,012,667 |
Series A | ||
4.00%, due 6/1/38 | 2,515,000 | 2,632,417 |
Series A | ||
4.00%, due 6/1/39 | 2,595,000 | 2,702,233 |
Indianapolis Local Public Improvement Bond Bank, Public Improvement, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 6/1/37 | 19,980,000 | 20,939,705 |
Series A, Insured: AGM | ||
4.00%, due 6/1/38 | 4,250,000 | 4,445,751 |
Vanderburgh County Redevelopment District, Tax Allocation | ||
Insured: AGM | ||
5.00%, due 2/1/31 | 1,460,000 | 1,576,583 |
43,713,848 |
Principal Amount | Value | |
Iowa 1.5% | ||
City of Coralville IA, Certificate of Participation | ||
Series E | ||
4.00%, due 6/1/22 | $ 1,405,000 | $ 1,406,246 |
Series E | ||
4.00%, due 6/1/23 | 1,320,000 | 1,323,948 |
Iowa Finance Authority, Renewable Natural Gas Project, Green Bond, Revenue Bonds | ||
1.50%, due 1/1/42 (a)(b) | 3,000,000 | 2,959,152 |
Iowa Finance Authority, Mortgage-Backed Securities Program, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.00%, due 7/1/47 | 2,235,000 | 2,284,203 |
Series C, Insured: GNMA / FNMA / FHLMC | ||
4.00%, due 7/1/48 | 1,265,000 | 1,287,352 |
Iowa Finance Authority, State Revolving Fund, Revenue Bonds | ||
Series A | ||
5.00%, due 8/1/39 | 5,500,000 | 6,263,405 |
Series A | ||
5.00%, due 8/1/39 | 3,500,000 | 4,036,849 |
Series A | ||
5.00%, due 8/1/40 | 4,500,000 | 5,181,225 |
PEFA, Inc., Revenue Bonds | ||
5.00%, due 9/1/49 (a) | 72,685,000 | 76,733,714 |
State of Iowa Board of Regents, University of Iowa Hospitals & Clinics, Revenue Bonds | ||
Series B | ||
3.00%, due 9/1/56 | 2,200,000 | 1,710,338 |
Series A | ||
4.00%, due 9/1/36 | 5,745,000 | 5,887,409 |
Waterloo Community School District, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 7/1/29 | 4,000,000 | 4,264,242 |
113,338,083 | ||
Kansas 0.2% | ||
City of Hutchinson KS, Hutchinson Regional Medical Center, Inc., Revenue Bonds | ||
5.00%, due 12/1/26 | 565,000 | 598,268 |
5.00%, due 12/1/28 | 410,000 | 430,878 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Kansas (continued) | ||
City of Hutchinson KS, Hutchinson Regional Medical Center, Inc., Revenue Bonds (continued) | ||
5.00%, due 12/1/30 | $ 500,000 | $ 522,520 |
University of Kansas Hospital Authority, University of Kansas Health System, Revenue Bonds | ||
Series B | ||
5.00%, due 3/1/31 | 2,500,000 | 2,795,070 |
University of Kansas Hospital Authority, KU Health System, Revenue Bonds | ||
5.00%, due 9/1/33 | 2,500,000 | 2,648,752 |
5.00%, due 9/1/34 | 4,500,000 | 4,764,829 |
5.00%, due 9/1/35 | 2,550,000 | 2,698,413 |
14,458,730 | ||
Kentucky 0.7% | ||
City of Ashland KY, Ashland Hospital Corp., King's Daughters Medical Center Project, Revenue Bonds | ||
Series A | ||
5.00%, due 2/1/23 | 1,525,000 | 1,557,883 |
Fayette County School District Finance Corp., Fayette County School District, Revenue Bonds | ||
Series A, Insured: State Intercept | ||
4.00%, due 5/1/38 | 2,495,000 | 2,561,644 |
Kentucky Public Energy Authority, Revenue Bonds (a) | ||
Series A | ||
4.00%, due 4/1/48 | 13,650,000 | 13,846,070 |
Series A-1 | ||
4.00%, due 8/1/52 | 5,000,000 | 5,094,785 |
Kentucky Public Energy Authority, Gas Supply, Revenue Bonds | ||
Series C | ||
4.00%, due 2/1/50 (a) | 11,000,000 | 11,222,716 |
Louisville/Jefferson County Metropolitan Government, Unlimited General Obligation | ||
Series A | ||
5.00%, due 4/1/33 | 11,015,000 | 13,054,174 |
Principal Amount | Value | |
Kentucky (continued) | ||
Louisville/Jefferson County Metropolitan Government, UofL Health Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 5/15/47 | $ 10,000,000 | $ 10,776,147 |
58,113,419 | ||
Louisiana 0.5% | ||
City of Shreveport LA, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 8/1/30 | 4,605,000 | 5,040,191 |
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Revenue Bonds | ||
5.00%, due 5/15/34 | 2,010,000 | 2,155,049 |
Louisiana Stadium & Exposition District, Revenue Bonds | ||
5.00%, due 7/3/23 | 10,175,000 | 10,333,652 |
Louisiana Stadium & Exposition District, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/30 | 1,485,000 | 1,533,270 |
Port New Orleans Board of Commissioners, Revenue Bonds | ||
Series D | ||
5.00%, due 4/1/50 | 6,425,000 | 7,059,801 |
State of Louisiana, Unlimited General Obligation | ||
Series A | ||
4.00%, due 2/1/34 | 8,880,000 | 9,138,044 |
35,260,007 | ||
Maine 0.0% ‡ | ||
Maine State Housing Authority, Revenue Bonds | ||
Series F | ||
3.65%, due 11/15/42 | 1,110,000 | 1,114,206 |
Maryland 0.8% | ||
City of Baltimore MD, Water Project, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/37 | 3,215,000 | 3,303,437 |
30 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Maryland (continued) | ||
City of Cumberland MD, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 6/1/27 | $ 1,210,000 | $ 1,341,047 |
Maryland Stadium Authority, Construction and Reviatalization Program, Revenue Bonds | ||
Series A, Insured: State Intercept | ||
5.00%, due 5/1/42 | 22,270,000 | 24,451,046 |
Maryland Stadium Authority Built to Learn, Revenue Bonds | ||
Series A | ||
4.00%, due 6/1/47 | 5,000,000 | 4,944,620 |
Series A | ||
5.00%, due 6/1/24 | 1,220,000 | 1,283,332 |
Series A | ||
5.00%, due 6/1/25 | 850,000 | 910,929 |
Series A | ||
5.00%, due 6/1/27 | 1,000,000 | 1,101,816 |
Series A | ||
5.00%, due 6/1/28 | 1,600,000 | 1,780,173 |
Series A | ||
5.00%, due 6/1/29 | 1,370,000 | 1,542,225 |
State of Maryland, Department of Transportation, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/30 | 2,800,000 | 3,006,616 |
State of Maryland, Unlimited General Obligation | ||
Series A | ||
5.00%, due 8/1/35 | 2,800,000 | 3,232,643 |
State of Maryland Department of Transportation, Revenue Bonds | ||
Series A | ||
3.00%, due 10/1/32 | 5,170,000 | 5,139,073 |
Series A | ||
3.00%, due 10/1/33 | 11,620,000 | 11,404,983 |
63,441,940 | ||
Massachusetts 0.8% | ||
City of Boston MA, Unlimited General Obligation | ||
Series A | ||
5.00%, due 11/1/41 | 12,500,000 | 14,731,600 |
Principal Amount | Value | |
Massachusetts (continued) | ||
Commonwealth of Massachusetts, Limited General Obligation | ||
Series B | ||
5.00%, due 11/1/24 | $ 3,400,000 | $ 3,616,832 |
Series C | ||
5.00%, due 9/1/28 | 11,200,000 | 12,699,606 |
Massachusetts Bay Transportation Authority, Sales Tax, Revenue Bonds | ||
4.00%, due 5/1/25 | 20,000,000 | 20,849,238 |
Massachusetts Development Finance Agency, WGBH Educational Foundation, Revenue Bonds | ||
4.00%, due 1/1/33 | 1,000,000 | 1,027,944 |
Massachusetts Development Finance Agency, President and Fellows of Harvard College, Revenue Bonds | ||
Series A | ||
5.00%, due 10/15/29 | 1,750,000 | 2,037,279 |
Massachusetts Housing Finance Agency, Single Family Housing, Revenue Bonds | ||
Series 199 | ||
4.00%, due 12/1/48 | 2,355,000 | 2,395,030 |
Massachusetts Transportation Trust Fund Metropolitan Highway System, Revenue Bonds | ||
Series C | ||
5.00%, due 1/1/33 | 7,000,000 | 7,872,941 |
65,230,470 | ||
Michigan 1.3% | ||
Detroit City School District, Improvement School Building & Site, Unlimited General Obligation | ||
Series A, Insured: Q-SBLF | ||
5.00%, due 5/1/29 | 3,120,000 | 3,120,000 |
Downriver Utility Wastewater Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 4/1/31 | 1,600,000 | 1,794,966 |
Grand Rapids Public Schools, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 11/1/42 | 1,400,000 | 1,557,557 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Michigan (continued) | ||
Great Lakes Water Authority, Water Supply System, Revenue Bonds, Senior Lien | ||
Series C | ||
5.25%, due 7/1/35 | $ 18,200,000 | $ 19,961,667 |
Hudsonville Public Schools, Unlimited General Obligation | ||
Series I, Insured: Q-SBLF | ||
4.00%, due 5/1/42 | 1,800,000 | 1,792,160 |
Lincoln Consolidated School District, Unlimited General Obligation | ||
Series A, Insured: AGM Q-SBLF | ||
5.00%, due 5/1/28 | 2,030,000 | 2,216,855 |
Series A, Insured: AGM Q-SBLF | ||
5.00%, due 5/1/30 | 1,455,000 | 1,574,545 |
Series A, Insured: AGM Q-SBLF | ||
5.00%, due 5/1/40 | 1,500,000 | 1,606,242 |
Livonia Public Schools, Unlimited General Obligation | ||
Series II, Insured: AGM | ||
5.00%, due 5/1/40 | 3,865,000 | 4,174,963 |
Michigan Finance Authority, Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series A, Class 1 | ||
4.00%, due 6/1/36 | 2,000,000 | 2,022,848 |
Michigan Finance Authority, Wayne County Criminal Justice Center Project, Revenue Bonds, Senior Lien | ||
5.00%, due 11/1/25 | 1,000,000 | 1,081,765 |
5.00%, due 11/1/27 | 1,200,000 | 1,337,689 |
Michigan Finance Authority, BHSH System Obligated Group, Revenue Bonds | ||
5.00%, due 4/15/28 | 7,100,000 | 7,884,266 |
Michigan Finance Authority, Great Lakes Water Authority Sewage Disposal System, Revenue Bonds, Second Lien | ||
Series C-7, Insured: NATL-RE | ||
5.00%, due 7/1/32 | 2,250,000 | 2,354,554 |
Principal Amount | Value | |
Michigan (continued) | ||
Michigan Finance Authority, Great Lakes Water Authority Sewage Disposal System, Revenue Bonds, Senior Lien | ||
Series C-3, Insured: AGM | ||
5.00%, due 7/1/33 | $ 2,750,000 | $ 2,876,608 |
Michigan Finance Authority, Local Government Loan Program, Revenue Bonds | ||
Series D-1 | ||
5.00%, due 7/1/34 | 500,000 | 529,523 |
Michigan Finance Authority, Great Lakes Water Authority Water Supply System, Revenue Bonds | ||
Series D-1, Insured: AGM | ||
5.00%, due 7/1/35 | 2,000,000 | 2,090,364 |
Series D-6, Insured: NATL-RE | ||
5.00%, due 7/1/36 | 6,650,000 | 6,949,035 |
Michigan Finance Authority, Beaumont Health Credit Group, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/44 | 4,395,000 | 4,677,048 |
South Huron Valley Utility Authority, State Of Michigan 2020 Sewage Disposal System Improvement, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 5/1/34 | 4,435,000 | 4,646,173 |
State of Michigan, Trunk Line, Revenue Bonds | ||
Series A | ||
4.00%, due 11/15/46 | 14,000,000 | 14,401,250 |
Series A | ||
5.00%, due 11/15/32 | 6,500,000 | 7,623,053 |
Thornapple Kellogg School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
4.00%, due 5/1/44 | 1,665,000 | 1,722,264 |
Tri-County Area School District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 5/1/30 | 1,225,000 | 1,311,712 |
Insured: AGM | ||
4.00%, due 5/1/31 | 1,285,000 | 1,370,893 |
Insured: AGM | ||
4.00%, due 5/1/32 | 1,350,000 | 1,409,948 |
102,087,948 |
32 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Minnesota 0.5% | ||
City of Minneapolis MN, Allina Health System, Revenue Bonds | ||
4.00%, due 11/15/40 | $ 2,750,000 | $ 2,795,119 |
City of Rochester MN, Mayo Clinic, Revenue Bonds | ||
4.00%, due 11/15/39 | 14,425,000 | 14,710,925 |
City of St Paul Minnesota MN, Fairview Health Services, Revenue Bonds | ||
Series A | ||
4.00%, due 11/15/37 | 1,000,000 | 1,002,411 |
Minnesota Housing Finance Agency, Residential Housing Finance, Revenue Bonds | ||
Series E, Insured: GNMA / FNMA / FHLMC | ||
4.25%, due 1/1/49 | 3,020,000 | 3,096,494 |
Minnesota Office of Higher Education, Student Loan Program, Revenue Bonds, Senior Lien | ||
2.65%, due 11/1/38 (b) | 2,365,000 | 2,037,737 |
State of Minnesota, Unlimited General Obligation | ||
Series B | ||
4.00%, due 9/1/32 | 3,750,000 | 4,042,019 |
Virginia Independent School District No. 706, Rock Ridge Independent School District No. 2909, Unlimited General Obligation | ||
Series A, Insured: SD CRED PROG | ||
5.00%, due 2/1/25 | 4,600,000 | 4,920,624 |
White Bear Lake Independent School District No. 624, Unlimited General Obligation | ||
Series A, Insured: SD CRED PROG | ||
3.00%, due 2/1/44 | 8,175,000 | 6,895,785 |
39,501,114 | ||
Mississippi 0.0% ‡ | ||
Mississippi Home Corp., Single Family Mortgage Housing, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.00%, due 12/1/44 | 1,290,000 | 1,312,963 |
Principal Amount | Value | |
Missouri 0.9% | ||
City of Kansas City MO, Improvement Downtown Arena Project, Revenue Bonds | ||
Series E | ||
5.00%, due 4/1/40 | $ 9,005,000 | $ 9,548,975 |
Health & Educational Facilities Authority of the State of Missouri, SSM Health System, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/29 | 2,875,000 | 3,222,798 |
Health & Educational Facilities Authority of the State of Missouri, SSM Health Care, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/30 | 3,500,000 | 3,685,334 |
Health & Educational Facilities Authority of the State of Missouri, BJC Healthcare System, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/31 | 5,300,000 | 6,120,131 |
Jackson County Reorganized School District No. 7, Unlimited General Obligation | ||
4.00%, due 3/1/31 | 2,000,000 | 2,124,161 |
Kansas City Industrial Development Authority, International Airport Terminal Modernization Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 3/1/50 (b) | 13,400,000 | 12,843,548 |
Kansas City Industrial Development Authority, Airport, Revenue Bonds | ||
Series B | ||
5.00%, due 3/1/46 (b) | 7,340,000 | 7,737,888 |
Kansas City Industrial Development Authority, City of Kansas International Airport Terminal, Revenue Bonds | ||
Series B, Insured: AGM | ||
5.00%, due 3/1/49 (b) | 5,630,000 | 5,946,866 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Missouri (continued) | ||
Missouri Housing Development Commission, First Place Homeownership Loan Program, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.25%, due 5/1/47 | $ 4,745,000 | $ 4,874,446 |
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.25%, due 5/1/49 | 2,695,000 | 2,763,914 |
Missouri Joint Municipal Electric Utility Commission, Prairie State Project, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/29 | 3,435,000 | 3,649,777 |
Springfield School District No. R-12, Unlimited General Obligation | ||
4.00%, due 3/1/35 | 2,640,000 | 2,789,551 |
St. Louis Municipal Finance Corp., Convention Center Expansion, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 10/1/49 | 4,510,000 | 4,965,482 |
70,272,871 | ||
Montana 0.3% | ||
Montana Board of Housing, Single Family Mortgage, Revenue Bonds | ||
Series B | ||
3.40%, due 12/1/33 | 855,000 | 837,468 |
Series B | ||
3.60%, due 6/1/37 | 1,110,000 | 1,093,346 |
Montana Facility Finance Authority, Benefis Health System Obligated Group, Revenue Bonds | ||
5.00%, due 2/15/30 | 1,790,000 | 1,953,809 |
5.00%, due 2/15/31 | 1,500,000 | 1,634,473 |
5.00%, due 2/15/33 | 1,320,000 | 1,434,039 |
5.00%, due 2/15/34 | 1,200,000 | 1,300,890 |
Silver Bow County School District No. 1, School Building, Unlimited General Obligation | ||
4.00%, due 7/1/30 | 1,745,000 | 1,852,718 |
4.00%, due 7/1/32 | 1,945,000 | 2,055,366 |
4.00%, due 7/1/33 | 2,020,000 | 2,130,663 |
Principal Amount | Value | |
Montana (continued) | ||
Yellowstone County K-12 School District No. 26 Lockwood, School District No. 26 Lockwood, Unlimited General Obligation | ||
5.00%, due 7/1/29 | $ 2,260,000 | $ 2,542,392 |
5.00%, due 7/1/30 | 2,250,000 | 2,523,659 |
5.00%, due 7/1/31 | 2,515,000 | 2,813,853 |
5.00%, due 7/1/32 | 2,800,000 | 3,127,880 |
25,300,556 | ||
Nebraska 1.6% | ||
Central Plains Energy, Nebraska Gas Project No. 3, Revenue Bonds | ||
5.00%, due 9/1/42 | 12,785,000 | 12,911,028 |
Series A | ||
5.00%, due 9/1/42 | 13,095,000 | 14,362,113 |
Fremont School District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/15/47 | 5,000,000 | 5,060,016 |
Gretna Public Schools, Unlimited General Obligation | ||
4.00%, due 12/15/47 | 4,890,000 | 4,944,441 |
Metropolitan Utilities District of Omaha, Gas System, Revenue Bonds | ||
5.00%, due 12/1/26 | 4,070,000 | 4,514,369 |
Nebraska Investment Finance Authority, Single Family Housing, Revenue Bonds | ||
Series C | ||
4.00%, due 9/1/48 | 2,970,000 | 3,023,719 |
Omaha Public Power District, Revenue Bonds | ||
Series A, Insured: AGM-CR | ||
4.00%, due 2/1/51 | 54,525,000 | 55,937,672 |
Omaha Public Power District, Electric System, Revenue Bonds | ||
Series A | ||
5.00%, due 2/1/46 | 13,000,000 | 14,591,843 |
University of Nebraska Facilities Corp., University of Nebraska, Revenue Bonds | ||
Series A | ||
4.00%, due 7/15/59 | 5,500,000 | 5,364,319 |
120,709,520 |
34 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Nevada 1.8% | ||
Clark County School District, Limited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 6/15/35 | $ 10,840,000 | $ 10,072,484 |
Series B, Insured: BAM | ||
3.00%, due 6/15/36 | 11,200,000 | 10,271,023 |
Series B, Insured: BAM | ||
3.00%, due 6/15/37 | 4,250,000 | 3,843,953 |
Series B, Insured: BAM | ||
3.00%, due 6/15/39 | 5,590,000 | 4,975,619 |
Series C | ||
4.00%, due 6/15/32 | 4,250,000 | 4,392,297 |
Series B, Insured: BAM | ||
5.00%, due 6/15/34 | 5,000,000 | 5,552,009 |
County of Clark NV, Park Improvement, Limited General Obligation | ||
4.00%, due 12/1/35 | 7,475,000 | 7,878,927 |
4.00%, due 12/1/36 | 4,250,000 | 4,462,225 |
Las Vegas Convention & Visitors Authority, Convention Center Expansion, Revenue Bonds | ||
Series B | ||
4.00%, due 7/1/49 | 8,800,000 | 8,945,198 |
Series B | ||
5.00%, due 7/1/31 | 1,245,000 | 1,381,808 |
Series B | ||
5.00%, due 7/1/43 | 17,950,000 | 19,632,202 |
Las Vegas Convention & Visitors Authority, Revenue Bonds | ||
5.00%, due 7/1/26 | 2,235,000 | 2,423,114 |
Las Vegas Valley Water District, Limited General Obligation | ||
Series A | ||
4.00%, due 6/1/36 | 4,750,000 | 5,023,554 |
Series A | ||
4.00%, due 6/1/37 | 8,500,000 | 8,977,282 |
Series A | ||
4.00%, due 6/1/38 | 9,485,000 | 9,997,836 |
Series A | ||
4.00%, due 6/1/40 | 5,250,000 | 5,447,569 |
Las Vegas Valley Water District, Water Improvement, Limited General Obligation | ||
Series A | ||
5.00%, due 6/1/46 | 3,165,000 | 3,382,899 |
Principal Amount | Value | |
Nevada (continued) | ||
Washoe County School District, Limited General Obligation | ||
Series A, Insured: BAM | ||
3.00%, due 6/1/33 | $ 2,750,000 | $ 2,689,563 |
Series A, Insured: BAM | ||
3.00%, due 6/1/34 | 2,490,000 | 2,390,543 |
Washoe County School District, School Improvement Bonds, Limited General Obligation | ||
Series A | ||
4.00%, due 10/1/49 | 18,000,000 | 17,859,123 |
139,599,228 | ||
New Hampshire 0.1% | ||
City of Manchester NH, General Airport, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 1/1/26 | 1,800,000 | 1,804,485 |
New Hampshire Business Finance Authority, Pennichuck Water Works, Inc., Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/50 (b) | 4,775,000 | 4,722,746 |
6,527,231 | ||
New Jersey 3.7% | ||
Atlantic County Improvement Authority (The), Stockton University, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/31 | 2,170,000 | 2,325,318 |
Series A, Insured: AGM | ||
5.00%, due 7/1/32 | 1,305,000 | 1,397,353 |
Series A, Insured: AGM | ||
5.00%, due 7/1/33 | 1,395,000 | 1,492,037 |
City of Atlantic City NJ, Unlimited General Obligation | ||
Series B, Insured: AGM State Aid Withholding | ||
5.00%, due 3/1/32 | 2,900,000 | 3,187,568 |
New Brunswick Parking Authority, City Guaranteed Parking, Revenue Bonds | ||
Series A, Insured: BAM MUN GOVT GTD | ||
5.00%, due 9/1/28 | 2,250,000 | 2,441,817 |
Series A, Insured: BAM MUN GOVT GTD | ||
5.00%, due 9/1/29 | 2,120,000 | 2,295,347 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
New Brunswick Parking Authority, City Guaranteed Parking, Revenue Bonds (continued) | ||
Series A, Insured: BAM MUN GOVT GTD | ||
5.00%, due 9/1/30 | $ 3,855,000 | $ 4,165,706 |
Series A, Insured: BAM MUN GOVT GTD | ||
5.00%, due 9/1/31 | 5,980,000 | 6,451,893 |
New Jersey Building Authority, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 6/15/25 | 2,015,000 | 2,146,649 |
Series A, Insured: BAM | ||
5.00%, due 6/15/28 | 1,805,000 | 1,947,318 |
New Jersey Economic Development Authority, The Goethals Bridge Replacement Project, Revenue Bonds (b) | ||
5.00%, due 1/1/28 | 1,000,000 | 1,030,161 |
5.50%, due 1/1/26 | 1,000,000 | 1,041,220 |
New Jersey Economic Development Authority, State of New Jersey Motor Vehicle Surcharge, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/28 | 2,000,000 | 2,182,519 |
New Jersey Educational Facilities Authority, Stockton University, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/29 | 4,025,000 | 4,331,228 |
Series A, Insured: BAM | ||
5.00%, due 7/1/30 | 4,250,000 | 4,563,836 |
Series A, Insured: BAM | ||
5.00%, due 7/1/31 | 3,000,000 | 3,215,878 |
New Jersey Health Care Facilities Financing Authority, AtlantiCare Health System Obligated Group, Revenue Bonds | ||
3.00%, due 7/1/38 | 1,250,000 | 1,077,626 |
3.00%, due 7/1/40 | 5,185,000 | 4,395,265 |
Principal Amount | Value | |
New Jersey (continued) | ||
New Jersey Health Care Facilities Financing Authority, Hackensack Meridian Health, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/38 | $ 8,900,000 | $ 9,665,307 |
New Jersey Higher Education Student Assistance Authority, Subordinate Student loan, Revenue Bonds | ||
Series C | ||
4.00%, due 12/1/48 (b) | 2,000,000 | 1,999,530 |
New Jersey Housing & Mortgage Finance Agency, Single-Family Home Mortgage, Revenue Bonds | ||
Series C | ||
4.75%, due 10/1/50 | 7,845,000 | 8,167,687 |
New Jersey Transportation Trust Fund Authority, Transportation System, Revenue Bonds | ||
Series C, Insured: NATL-RE | ||
(zero coupon), due 12/15/30 | 18,075,000 | 13,005,192 |
Series C, Insured: AGM | ||
(zero coupon), due 12/15/34 | 27,400,000 | 16,584,653 |
Series A | ||
5.00%, due 12/15/26 | 3,750,000 | 4,058,089 |
Series BB | ||
5.00%, due 6/15/44 | 10,155,000 | 10,639,279 |
Series AA | ||
5.00%, due 6/15/46 | 6,515,000 | 6,814,399 |
Series AA | ||
5.25%, due 6/15/43 | 9,155,000 | 9,752,757 |
New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement, Revenue Bonds | ||
Series A | ||
5.00%, due 6/15/28 | 4,300,000 | 4,635,147 |
Series A | ||
5.00%, due 6/15/29 | 7,480,000 | 8,032,144 |
New Jersey Transportation Trust Fund Authority, Revenue Bonds | ||
Series BB-1 | ||
5.00%, due 6/15/32 | 1,500,000 | 1,619,927 |
New Jersey Transportation Trust Fund Authority, Transportation Program, Revenue Bonds | ||
Series AA | ||
5.00%, due 6/15/44 | 11,955,000 | 12,175,859 |
36 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
New Jersey Turnpike Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 1/1/51 | $ 5,000,000 | $ 4,963,592 |
Series E | ||
5.00%, due 1/1/45 | 2,250,000 | 2,351,572 |
Newark Housing Authority Scholarship Foundation A New Jersey Non (The), Police Facility, Revenue Bonds | ||
Insured: AGM MUN GOVT GTD | ||
4.00%, due 12/1/27 | 500,000 | 527,071 |
Insured: AGM MUN GOVT GTD | ||
4.00%, due 12/1/29 | 250,000 | 262,229 |
Insured: AGM MUN GOVT GTD | ||
4.00%, due 12/1/31 | 225,000 | 235,118 |
Insured: AGM MUN GOVT GTD | ||
5.00%, due 12/1/28 | 750,000 | 826,078 |
Insured: AGM MUN GOVT GTD | ||
5.00%, due 12/1/38 | 1,740,000 | 1,888,329 |
South Jersey Transportation Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 11/1/31 | 1,750,000 | 1,979,582 |
Series A, Insured: AGM | ||
5.00%, due 11/1/32 | 1,500,000 | 1,690,360 |
Series A, Insured: BAM | ||
5.00%, due 11/1/45 | 2,000,000 | 2,207,536 |
State of New Jersey, Unlimited General Obligation | ||
3.00%, due 6/1/32 | 2,950,000 | 2,814,605 |
4.00%, due 6/1/32 | 13,750,000 | 14,344,942 |
5.00%, due 6/1/26 | 3,250,000 | 3,509,907 |
State of New Jersey, COVID-19 General Obligation Emergency Bonds, Unlimited General Obligation | ||
Series A | ||
4.00%, due 6/1/30 | 23,045,000 | 24,130,634 |
Series A | ||
4.00%, due 6/1/31 | 17,920,000 | 18,727,362 |
State of New Jersey, Various Purposes, Unlimited General Obligation | ||
5.00%, due 6/1/40 | 4,500,000 | 4,895,522 |
5.00%, due 6/1/41 | 10,400,000 | 11,302,592 |
5.00%, due 6/1/42 | 8,950,000 | 9,713,465 |
Principal Amount | Value | |
New Jersey (continued) | ||
Tobacco Settlement Financing Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/31 | $ 2,500,000 | $ 2,686,234 |
Series A | ||
5.00%, due 6/1/33 | 5,700,000 | 6,102,648 |
Series A | ||
5.00%, due 6/1/34 | 1,500,000 | 1,604,382 |
Series A | ||
5.00%, due 6/1/36 | 5,200,000 | 5,542,882 |
Township of Edison NJ, Unlimited General Obligation | ||
3.00%, due 3/15/32 | 4,900,000 | 4,619,164 |
283,764,515 | ||
New Mexico 0.2% | ||
City of Albuquerque NM, Gross Receipts Lodgers Tax, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/36 | 2,490,000 | 2,641,838 |
New Mexico Finance Authority, State of New Mexico Department of Transportation, Revenue Bonds, Sub. Lien | ||
Series A | ||
5.00%, due 6/15/25 | 3,300,000 | 3,551,542 |
New Mexico Hospital Equipment Loan Council, Presbyterian Healthcare Services, Revenue Bonds | ||
Series A | ||
5.00%, due 8/1/44 | 4,500,000 | 5,034,348 |
State of New Mexico, Unlimited General Obligation | ||
5.00%, due 3/1/27 | 4,500,000 | 5,011,402 |
16,239,130 | ||
New York 17.9% | ||
City of New York NY, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
3.00%, due 8/1/36 | 9,420,000 | 8,797,276 |
Series A, A-1 | ||
4.00%, due 8/1/38 | 8,900,000 | 8,957,733 |
Series A-1 | ||
4.00%, due 8/1/40 | 3,570,000 | 3,582,671 |
Series C | ||
4.00%, due 8/1/40 | 12,210,000 | 12,249,315 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
City of New York NY, Unlimited General Obligation (continued) | ||
Series D-1, Insured: BAM | ||
4.00%, due 3/1/41 | $ 11,200,000 | $ 11,233,930 |
Series D-1, Insured: BAM | ||
4.00%, due 3/1/50 | 20,510,000 | 20,555,963 |
Series A | ||
5.00%, due 8/1/28 | 1,750,000 | 1,842,717 |
Series A | ||
5.00%, due 8/1/32 | 4,500,000 | 5,169,932 |
Series A-1 | ||
5.00%, due 8/1/35 | 3,410,000 | 3,853,828 |
Series A-1 | ||
5.00%, due 8/1/39 | 3,500,000 | 3,837,867 |
Series B-1 | ||
5.00%, due 10/1/42 | 2,620,000 | 2,874,174 |
Series F-1 | ||
5.00%, due 4/1/43 | 6,605,000 | 7,094,859 |
Series C | ||
5.00%, due 8/1/43 | 2,410,000 | 2,649,528 |
Series B-1 | ||
5.00%, due 10/1/43 | 3,055,000 | 3,331,891 |
Series B-1 | ||
5.25%, due 10/1/32 | 17,850,000 | 19,946,006 |
City of Yonkers NY, Unlimited General Obligation | ||
Series D, Insured: AGM State Aid Withholding | ||
4.00%, due 3/15/42 | 4,500,000 | 4,532,016 |
County of Nassau NY, Limited General Obligation | ||
Series B, Insured: AGM | ||
5.00%, due 4/1/44 | 4,250,000 | 4,720,274 |
County of Suffolk NY, Public Improvement, Limited General Obligation | ||
Series B, Insured: AGM | ||
3.00%, due 10/15/31 | 3,960,000 | 3,798,240 |
Series B, Insured: AGM | ||
5.00%, due 10/15/28 | 3,520,000 | 3,953,696 |
County of Suffolk NY, Limited General Obligation | ||
Series D, Insured: BAM | ||
4.00%, due 10/15/28 | 2,000,000 | 2,119,154 |
Series A, Insured: BAM | ||
4.00%, due 6/15/30 | 2,300,000 | 2,452,144 |
Principal Amount | Value | |
New York (continued) | ||
Long Island Power Authority, Electric System, Revenue Bonds | ||
5.00%, due 9/1/39 | $ 1,875,000 | $ 2,078,178 |
Series B | ||
5.00%, due 9/1/45 | 8,070,000 | 8,537,067 |
Long Island Power Authority, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 9/1/39 | 9,000,000 | 9,492,792 |
Series A, Insured: BAM | ||
5.00%, due 9/1/44 | 9,000,000 | 9,457,331 |
Metropolitan Transportation Authority, Green Bond, Revenue Bonds | ||
Series A-1, Insured: AGM | ||
4.00%, due 11/15/42 | 6,700,000 | 6,686,435 |
Series A-1, Insured: AGM | ||
4.00%, due 11/15/44 | 4,345,000 | 4,315,254 |
Series C, Insured: AGM | ||
4.00%, due 11/15/48 | 8,280,000 | 8,130,157 |
Series A-1, Insured: AGM | ||
4.00%, due 11/15/54 | 1,410,000 | 1,372,412 |
Series A-1 | ||
5.00%, due 11/15/41 | 2,410,000 | 2,517,338 |
Series C, Insured: BAM | ||
5.00%, due 11/15/43 | 3,095,000 | 3,347,376 |
Series D | ||
5.00%, due 11/15/45 | 11,050,000 | 11,587,115 |
Metropolitan Transportation Authority, Climate Certified Green Bond, Revenue Bonds | ||
Series C, Insured: AGM | ||
4.00%, due 11/15/47 | 1,880,000 | 1,851,670 |
Series C, Insured: BAM | ||
5.00%, due 11/15/44 | 13,245,000 | 14,302,535 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Series D | ||
5.00%, due 11/15/26 | 2,000,000 | 2,032,392 |
Series D-1 | ||
5.00%, due 11/15/26 | 2,285,000 | 2,434,144 |
Series A-1 | ||
5.00%, due 11/15/37 | 1,300,000 | 1,348,528 |
Series C | ||
5.00%, due 11/15/38 | 6,700,000 | 6,838,174 |
Series A-1 | ||
5.00%, due 11/15/40 | 4,390,000 | 4,542,348 |
Series C | ||
5.00%, due 11/15/42 | 9,025,000 | 9,201,867 |
38 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
Metropolitan Transportation Authority, Revenue Bonds (continued) | ||
Series B | ||
5.00%, due 11/15/43 | $ 1,575,000 | $ 1,605,543 |
Series E | ||
5.00%, due 11/15/43 | 2,500,000 | 2,565,661 |
Series C-1 | ||
5.25%, due 11/15/29 | 2,230,000 | 2,381,753 |
Series B | ||
5.25%, due 11/15/35 | 2,370,000 | 2,459,622 |
Metropolitan Transportation Authority, Dedicated Tax Fund, Green Bond, Revenue Bonds | ||
Series B-1 | ||
5.00%, due 11/15/36 | 12,040,000 | 12,916,110 |
Metropolitan Transportation Authority, Dedicated Tax Fund, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/46 | 10,000,000 | 11,011,054 |
Series A | ||
5.00%, due 11/15/49 | 5,500,000 | 6,036,627 |
Series A | ||
5.25%, due 11/15/33 | 7,750,000 | 8,443,446 |
Series A | ||
5.25%, due 11/15/34 | 8,975,000 | 9,779,830 |
Series A | ||
5.25%, due 11/15/36 | 9,490,000 | 10,328,656 |
New York City Housing Development Corp., Green Bond, Revenue Bonds | ||
Series A, Insured: FHA 542(C) | ||
2.25%, due 11/1/36 | 4,450,000 | 3,620,536 |
New York City Housing Development Corp., Multi-Family Housing, Green Bond, Revenue Bonds | ||
Series J | ||
3.05%, due 11/1/49 | 9,000,000 | 7,199,231 |
Series G-1-B | ||
3.05%, due 5/1/50 | 21,920,000 | 17,774,884 |
Series J | ||
3.15%, due 11/1/54 | 15,750,000 | 12,385,909 |
New York City Housing Development Corp., Multi-Family Housing, Revenue Bonds | ||
Series E-1-C | ||
4.95%, due 11/1/46 | 3,825,000 | 4,021,647 |
Principal Amount | Value | |
New York (continued) | ||
New York City Industrial Development Agency, Yankee Stadium LLC, Revenue Bonds | ||
Series A, Insured: AGM | ||
3.00%, due 3/1/38 | $ 5,500,000 | $ 4,750,597 |
New York City Municipal Water Finance Authority, Revenue Bonds | ||
Series BB-1 | ||
3.00%, due 6/15/44 | 2,925,000 | 2,485,893 |
New York City Municipal Water Finance Authority, Second General Resolution, Revenue Bonds | ||
Series DD-2 | ||
3.50%, due 6/15/40 | 1,105,000 | 1,050,255 |
Series EE | ||
5.00%, due 6/15/40 | 14,085,000 | 15,502,723 |
Series CC-1 | ||
5.00%, due 6/15/47 | 9,050,000 | 9,421,043 |
Series EE | ||
5.00%, due 6/15/47 | 10,560,000 | 10,816,279 |
Series GG-1 | ||
5.00%, due 6/15/48 | 1,665,000 | 1,828,016 |
New York City Municipal Water Finance Authority, New York City Water & Sewer System, Revenue Bonds | ||
Series FF | ||
4.00%, due 6/15/41 | 4,250,000 | 4,263,324 |
5.00%, due 6/15/32 | 2,325,000 | 2,670,339 |
5.00%, due 6/15/50 | 10,500,000 | 11,575,626 |
5.00%, due 6/15/51 | 6,170,000 | 6,829,512 |
New York City Transitional Finance Authority, Future Tax Secured, Revenue Bonds | ||
Series A | ||
3.00%, due 11/1/37 | 18,500,000 | 16,531,360 |
Series A | ||
3.00%, due 11/1/39 | 6,200,000 | 5,439,674 |
Series B-1 | ||
3.00%, due 8/1/41 | 5,500,000 | 4,753,744 |
Series A-1 | ||
4.00%, due 11/1/35 | 3,525,000 | 3,616,298 |
Series A-1 | ||
4.00%, due 11/1/37 | 7,000,000 | 7,110,244 |
Series B-1 | ||
4.00%, due 11/1/37 | 1,000,000 | 1,012,882 |
Series D | ||
4.00%, due 11/1/38 | 3,500,000 | 3,533,780 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
New York City Transitional Finance Authority, Future Tax Secured, Revenue Bonds (continued) | ||
Series E-1 | ||
4.00%, due 2/1/39 | $ 6,330,000 | $ 6,371,494 |
Series C | ||
4.00%, due 5/1/39 | 5,000,000 | 5,032,210 |
Series D | ||
4.00%, due 11/1/39 | 4,500,000 | 4,528,989 |
Series C | ||
4.00%, due 5/1/40 | 6,035,000 | 6,076,900 |
Series C-1 | ||
4.00%, due 11/1/40 | 8,500,000 | 8,549,947 |
Series A | ||
4.00%, due 5/1/41 | 6,975,000 | 7,007,153 |
Series B-1 | ||
4.00%, due 11/1/42 | 8,400,000 | 8,374,438 |
Series D | ||
4.00%, due 11/1/42 | 5,700,000 | 5,682,654 |
Series A | ||
4.00%, due 5/1/43 | 2,575,000 | 2,558,537 |
Series C | ||
4.00%, due 5/1/43 | 9,275,000 | 9,215,702 |
Series B-1 | ||
4.00%, due 11/1/43 | 12,000,000 | 11,922,127 |
Series D | ||
4.00%, due 11/1/43 | 6,500,000 | 6,457,819 |
Series A | ||
5.00%, due 11/1/26 | 5,700,000 | 6,274,622 |
Series F-1 | ||
5.00%, due 5/1/32 | 3,500,000 | 3,812,977 |
Series A-1 | ||
5.00%, due 5/1/33 | 8,975,000 | 9,701,820 |
Series A-2 | ||
5.00%, due 8/1/34 | 6,895,000 | 7,508,212 |
Series E-1 | ||
5.00%, due 2/1/37 | 4,500,000 | 4,822,844 |
Series E-1 | ||
5.00%, due 2/1/41 | 2,500,000 | 2,630,617 |
Series F-1 | ||
5.00%, due 5/1/42 | 10,300,000 | 11,102,245 |
Series C-1 | ||
5.00%, due 2/1/51 | 13,065,000 | 14,417,481 |
Principal Amount | Value | |
New York (continued) | ||
New York City Transitional Finance Authority Building Aid, Revenue Bonds | ||
Series S-1, Insured: State Aid Withholding | ||
5.00%, due 7/15/33 | $ 5,310,000 | $ 5,600,527 |
Series S-2, Insured: State Aid Withholding | ||
5.00%, due 7/15/34 | 2,500,000 | 2,657,061 |
Series S-1, Insured: State Aid Withholding | ||
5.00%, due 7/15/36 | 8,950,000 | 9,418,231 |
Series S-1, Insured: State Aid Withholding | ||
5.00%, due 7/15/43 | 7,630,000 | 8,091,982 |
New York Convention Center Development Corp., Hotel Unit Fee, Revenue Bonds, Sub. Lien | ||
Series B, Insured: BAM | ||
(zero coupon), due 11/15/36 | 5,050,000 | 2,689,534 |
New York Liberty Development Corp., Bank of America Tower at One Bryant Park Project, Revenue Bonds | ||
2.45%, due 9/15/69 | 11,625,000 | 10,917,592 |
New York Liberty Development Corp., Revenue Bonds | ||
Series 1WTC, Insured: BAM | ||
3.00%, due 2/15/42 | 5,900,000 | 5,124,587 |
Series 1WTC | ||
4.00%, due 2/15/43 | 10,900,000 | 10,960,788 |
New York Liberty Development Corp., 7 World Trade Center Project, Revenue Bonds | ||
3.00%, due 9/15/43 | 18,100,000 | 15,756,057 |
3.125%, due 9/15/50 | 27,155,000 | 23,105,502 |
3.25%, due 9/15/52 | 4,280,000 | 3,689,541 |
New York Liberty Development Corp., Green Bond, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 11/15/51 | 13,225,000 | 10,365,186 |
New York Power Authority, Green Transmission Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 11/15/47 | 8,425,000 | 8,410,544 |
40 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
New York State Dormitory Authority, State Personal Income Tax, Revenue Bonds | ||
Series E | ||
3.00%, due 3/15/50 | $ 13,500,000 | $ 11,044,110 |
Series A | ||
3.50%, due 3/15/52 | 2,850,000 | 2,575,091 |
Series D | ||
4.00%, due 2/15/37 | 2,500,000 | 2,529,799 |
Series D | ||
4.00%, due 2/15/38 | 9,000,000 | 9,080,219 |
Series A | ||
4.00%, due 3/15/38 | 4,220,000 | 4,262,079 |
Series A | ||
4.00%, due 3/15/43 | 10,380,000 | 10,371,623 |
Series D | ||
4.00%, due 2/15/47 | 18,200,000 | 18,083,744 |
Series A | ||
4.00%, due 3/15/47 | 3,925,000 | 3,899,919 |
Series A | ||
4.00%, due 3/15/48 | 4,500,000 | 4,472,712 |
Series E | ||
5.00%, due 3/15/34 | 3,690,000 | 3,954,538 |
Series B | ||
5.00%, due 2/15/38 | 12,190,000 | 13,113,468 |
Series A | ||
5.00%, due 3/15/41 | 20,000,000 | 22,335,424 |
Series D | ||
5.00%, due 2/15/48 | 9,125,000 | 9,928,281 |
Series A | ||
5.25%, due 3/15/39 | 1,840,000 | 2,060,127 |
New York State Dormitory Authority, Sales Tax, Revenue Bonds | ||
Series C | ||
4.00%, due 3/15/44 | 10,310,000 | 10,275,347 |
Series A | ||
5.00%, due 3/15/40 | 7,280,000 | 7,876,608 |
Series A | ||
5.00%, due 3/15/40 | 21,130,000 | 22,874,835 |
Series E | ||
5.00%, due 3/15/40 | 4,250,000 | 4,627,757 |
Series A | ||
5.00%, due 3/15/43 | 6,600,000 | 7,107,810 |
Series A | ||
5.00%, due 3/15/44 | 4,500,000 | 4,824,697 |
Principal Amount | Value | |
New York (continued) | ||
New York State Dormitory Authority, State of New York Sales Tax, Revenue Bonds | ||
Series E | ||
5.00%, due 3/15/31 | $ 5,000,000 | $ 5,569,453 |
Series C | ||
5.00%, due 3/15/41 | 30,070,000 | 32,535,121 |
New York State Dormitory Authority, School District Revenue Financing Program, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/33 | 750,000 | 834,349 |
Series A, Insured: AGM | ||
5.00%, due 10/1/34 | 3,200,000 | 3,553,873 |
New York State Dormitory Authority, University Facilities, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/36 | 1,000,000 | 1,089,469 |
Series A | ||
5.00%, due 7/1/38 | 1,000,000 | 1,087,479 |
New York State Thruway Authority, Revenue Bonds | ||
Series L | ||
3.50%, due 1/1/37 | 1,500,000 | 1,531,609 |
Series B, Insured: BAM | ||
4.00%, due 1/1/39 | 14,930,000 | 15,047,023 |
Series O | ||
4.00%, due 1/1/39 | 5,660,000 | 5,694,281 |
Series B | ||
4.00%, due 1/1/41 | 4,000,000 | 3,997,758 |
Series N | ||
5.00%, due 1/1/34 | 9,780,000 | 10,862,051 |
Series N | ||
5.00%, due 1/1/35 | 4,250,000 | 4,702,016 |
Series N | ||
5.00%, due 1/1/36 | 14,660,000 | 16,170,456 |
Series N | ||
5.00%, due 1/1/38 | 4,915,000 | 5,387,218 |
Series N | ||
5.00%, due 1/1/39 | 3,000,000 | 3,283,068 |
New York State Thruway Authority, Junior Indebtedness Obligations, Revenue Bonds | ||
Series B | ||
4.00%, due 1/1/45 | 13,000,000 | 12,690,802 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
New York State Thruway Authority, General Revenue Junior Indebtedness Obligation, Revenue Bonds | ||
Series B, Insured: AGM | ||
4.00%, due 1/1/50 | $ 9,890,000 | $ 9,685,524 |
New York State Urban Development Corp., Personal Income Tax, Revenue Bonds | ||
Series C | ||
3.00%, due 3/15/40 | 17,335,000 | 15,150,443 |
Series E | ||
3.00%, due 3/15/40 | 7,050,000 | 6,161,524 |
Series A | ||
4.00%, due 3/15/38 | 2,500,000 | 2,520,170 |
Series E | ||
4.00%, due 3/15/41 | 11,000,000 | 11,048,324 |
Series C | ||
4.00%, due 3/15/42 | 805,000 | 807,134 |
Series A | ||
4.00%, due 3/15/45 | 11,200,000 | 11,111,884 |
5.00%, due 3/15/47 | 4,250,000 | 4,650,430 |
New York State Urban Development Corp., State of New York Sales Tax, Revenue Bonds | ||
Series A | ||
3.00%, due 3/15/41 | 9,000,000 | 7,830,956 |
New York State Urban Development Corp., State of New York Sales Tax Revenue, Revenue Bonds | ||
Series A | ||
4.00%, due 3/15/44 | 9,040,000 | 9,009,616 |
Series A | ||
4.00%, due 3/15/45 | 9,035,000 | 9,003,990 |
New York State Urban Development Corp., State Personal Income Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 3/15/30 | 11,050,000 | 11,911,264 |
Series A | ||
5.00%, due 3/15/43 | 9,285,000 | 10,031,803 |
New York State Urban Development Corp., Sales Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 3/15/41 | 12,460,000 | 13,686,012 |
Principal Amount | Value | |
New York (continued) | ||
New York Transportation Development Corp., Laguardia Airport Terminal B Redevelopment Project, Revenue Bonds (b) | ||
Series A, Insured: AGM-CR | ||
4.00%, due 7/1/31 | $ 9,875,000 | $ 9,902,870 |
Series A, Insured: AGM | ||
4.00%, due 7/1/36 | 22,450,000 | 22,388,191 |
New York Transportation Development Corp., LaGuardia Airport Terminal B Redevelopment Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 7/1/37 (b) | 1,400,000 | 1,393,508 |
New York Transportation Development Corp., Terminal 4 JFK International Airport Project, Revenue Bonds (b) | ||
5.00%, due 12/1/27 | 4,500,000 | 4,770,551 |
5.00%, due 12/1/28 | 4,500,000 | 4,782,603 |
5.00%, due 12/1/29 | 10,000,000 | 10,639,699 |
Onondaga County Trust for Cultural Resources, Syracuse University Project, Revenue Bonds | ||
4.00%, due 12/1/49 | 2,500,000 | 2,472,176 |
5.00%, due 12/1/45 | 16,750,000 | 18,359,199 |
Port Authority of New York & New Jersey, Consolidated 218th, Revenue Bonds (b) | ||
Series 218 | ||
4.00%, due 11/1/37 | 1,720,000 | 1,698,312 |
Series 218 | ||
5.00%, due 11/1/44 | 3,190,000 | 3,426,214 |
Series 218 | ||
5.00%, due 11/1/49 | 3,000,000 | 3,207,165 |
Port Authority of New York & New Jersey, Revenue Bonds | ||
Series 222, Insured: BAM | ||
4.00%, due 7/15/39 | 8,015,000 | 8,064,756 |
Series 221 | ||
4.00%, due 7/15/40 (b) | 3,000,000 | 2,930,330 |
Series 222 | ||
4.00%, due 7/15/40 | 2,000,000 | 2,018,988 |
Series 223 | ||
4.00%, due 7/15/41 (b) | 4,425,000 | 4,318,078 |
4.00%, due 11/1/41 (b) | 10,815,000 | 10,551,586 |
42 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
Port Authority of New York & New Jersey, Consolidated 197th, Revenue Bonds (b) | ||
Series 197 | ||
5.00%, due 11/15/34 | $ 11,200,000 | $ 12,107,879 |
Series 197 | ||
5.00%, due 11/15/35 | 8,950,000 | 9,659,758 |
Port Authority of New York & New Jersey, Consolidated 221st, Revenue Bonds | ||
Series 221 | ||
5.00%, due 7/15/35 (b) | 3,000,000 | 3,286,895 |
Rensselaer City School District, Certificate of Participation | ||
Insured: AGM State Aid Withholding | ||
5.00%, due 6/1/30 | 1,880,000 | 2,028,844 |
Insured: AGM State Aid Withholding | ||
5.00%, due 6/1/32 | 2,000,000 | 2,155,950 |
State of New York, Unlimited General Obligation | ||
Series A | ||
5.00%, due 3/15/24 | 2,500,000 | 2,625,953 |
Suffolk County Water Authority, Revenue Bonds | ||
Series A | ||
3.25%, due 6/1/43 | 1,000,000 | 943,568 |
Triborough Bridge & Tunnel Authority, Payroll Mobility Tax, Revenue Bonds, Senior Lien | ||
Series C-2 | ||
3.00%, due 5/15/32 | 910,000 | 889,465 |
Series C-2 | ||
3.00%, due 5/15/33 | 3,610,000 | 3,511,612 |
Series C-2 | ||
4.00%, due 5/15/34 | 3,045,000 | 3,135,620 |
Triborough Bridge & Tunnel Authority, Revenue Bonds | ||
Series C | ||
4.00%, due 11/15/43 | 10,750,000 | 10,780,794 |
Series B | ||
5.00%, due 11/15/35 | 7,660,000 | 8,371,038 |
Series B | ||
5.00%, due 11/15/38 | 3,100,000 | 3,377,171 |
Series A | ||
5.00%, due 11/15/43 | 5,250,000 | 5,697,796 |
Series A | ||
5.00%, due 11/15/45 | 11,240,000 | 12,046,844 |
Principal Amount | Value | |
New York (continued) | ||
Triborough Bridge & Tunnel Authority, Revenue Bonds (continued) | ||
Series A | ||
5.00%, due 11/15/54 | $ 5,860,000 | $ 6,390,574 |
Triborough Bridge & Tunnel Authority, Revenue Bonds, Senior Lien | ||
Series A-1 | ||
4.00%, due 5/15/46 | 4,000,000 | 3,962,532 |
Series A-1 | ||
5.00%, due 5/15/51 | 13,365,000 | 14,642,572 |
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/46 | 6,955,000 | 7,443,181 |
TSASC, Inc., Tobacco Settlement Bonds, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/34 | 6,190,000 | 6,530,095 |
Series A | ||
5.00%, due 6/1/35 | 2,615,000 | 2,755,199 |
1,387,395,199 | ||
North Carolina 0.1% | ||
City of Charlotte NC, Unlimited General Obligation | ||
Series A | ||
5.00%, due 6/1/30 | 2,180,000 | 2,508,637 |
County of New Hanover NC, Unlimited General Obligation | ||
Series A | ||
4.00%, due 8/1/27 | 2,500,000 | 2,676,035 |
North Carolina Municipal Power Agency No. 1, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/25 | 4,600,000 | 4,875,259 |
10,059,931 | ||
North Dakota 0.1% | ||
City of Grand Forks ND, Altru Health System Obligated Group, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 12/1/51 | 7,850,000 | 6,030,611 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
North Dakota (continued) | ||
State Board of Higher Education of the State of North Dakota, University of North Dakota Housing & Auxiliary Facilities, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 4/1/44 | $ 3,250,000 | $ 3,310,287 |
9,340,898 | ||
Ohio 1.1% | ||
American Municipal Power, Inc., Revenue Bonds | ||
Series A, Insured: BAM | ||
4.00%, due 2/15/34 | 24,435,000 | 25,680,848 |
Series A | ||
5.00%, due 2/15/29 | 4,750,000 | 4,943,591 |
American Municipal Power, Inc., Prairie State Energy Campus Project, Revenue Bonds | ||
Series A | ||
5.00%, due 2/15/33 | 8,720,000 | 9,870,909 |
Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Senior Lien | ||
Series A-2, Class 1 | ||
4.00%, due 6/1/37 | 2,000,000 | 1,964,370 |
Series A-2, Class 1 | ||
5.00%, due 6/1/36 | 1,000,000 | 1,069,128 |
Clermont County Port Authority, West Clermont Local School District Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 12/1/32 | 2,200,000 | 2,357,169 |
Insured: BAM | ||
5.00%, due 12/1/33 | 1,335,000 | 1,428,495 |
Cleveland-Cuyahoga County Port Authority, Annual Appropriation Bonds, Revenue Bonds | ||
6.00%, due 11/15/25 | 1,630,000 | 1,635,864 |
County of Hamilton OH, Christ Hospital Project, Revenue Bonds | ||
5.50%, due 6/1/42 | 2,000,000 | 2,006,688 |
Lake Local School District, Unlimited General Obligation | ||
4.00%, due 12/1/58 | 5,750,000 | 5,823,701 |
Principal Amount | Value | |
Ohio (continued) | ||
Ohio Housing Finance Agency, Residential Mortgage, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA / FHLMC | ||
4.50%, due 9/1/48 | $ 3,255,000 | $ 3,356,470 |
State of Ohio, Cleveland Clinic Health System Obligated Group, Revenue Bonds | ||
4.00%, due 1/1/46 | 9,900,000 | 9,837,613 |
University of Cincinnati, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/45 | 11,675,000 | 12,492,555 |
82,467,401 | ||
Oklahoma 0.3% | ||
Garfield County Educational Facilities Authority, Enid Public Schools Project, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/26 | 1,800,000 | 1,975,743 |
Series A | ||
5.00%, due 9/1/27 | 3,280,000 | 3,583,370 |
Series A | ||
5.00%, due 9/1/28 | 4,250,000 | 4,632,200 |
Series A | ||
5.00%, due 9/1/29 | 3,870,000 | 4,209,787 |
Lincoln County Educational Facilities Authority, Stroud Public Schools Project, Revenue Bonds | ||
5.00%, due 9/1/28 | 2,700,000 | 2,942,810 |
5.00%, due 9/1/29 | 2,120,000 | 2,306,137 |
Oklahoma Housing Finance Agency, Revenue Bonds | ||
Series A | ||
4.75%, due 9/1/48 | 2,150,000 | 2,234,609 |
Oklahoma Municipal Power Authority, Power Suply System, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 1/1/47 | 394,000 | 397,702 |
44 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Oklahoma (continued) | ||
Weatherford Industrial Trust, Custer County Independent School District No. 26 Weatherford, Revenue Bonds | ||
5.00%, due 3/1/31 | $ 1,820,000 | $ 2,047,025 |
5.00%, due 3/1/33 | 2,000,000 | 2,241,216 |
26,570,599 | ||
Oregon 0.7% | ||
City of Eugene OR, Revenue Bonds | ||
Series A | ||
4.00%, due 8/1/45 | 3,670,000 | 3,767,730 |
Port of Portland, Airport, Revenue Bonds | ||
Series 27A | ||
5.00%, due 7/1/38 (b) | 9,000,000 | 9,793,714 |
State of Oregon Housing & Community Services Department, Single Family Mortgage Program, Revenue Bonds | ||
Series C | ||
4.50%, due 7/1/49 | 6,235,000 | 6,402,505 |
University of Oregon, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.50%, due 4/1/52 | 41,695,000 | 37,492,444 |
57,456,393 | ||
Pennsylvania 2.8% | ||
Central Bradford Progress Authority, Guthrie Clinic (The), Revenue Bonds | ||
Series B | ||
3.00%, due 12/1/44 | 6,815,000 | 5,467,486 |
City of Philadelphia PA, Unlimited General Obligation | ||
Series A | ||
5.00%, due 5/1/33 | 4,000,000 | 4,546,914 |
Series B | ||
5.00%, due 2/1/38 | 4,900,000 | 5,450,774 |
City of Philadelphia PA, Water & Wastewater, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/47 | 10,850,000 | 11,762,654 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Commonwealth Financing Authority, Tobacco Master Settlement Payment, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 6/1/39 | $ 5,250,000 | $ 5,303,504 |
Insured: BAM | ||
5.00%, due 6/1/31 | 8,950,000 | 9,782,390 |
Commonwealth of Pennsylvania, Unlimited General Obligation, First Series | ||
3.00%, due 5/1/36 | 10,860,000 | 9,772,526 |
Series First | ||
4.00%, due 3/1/35 | 4,500,000 | 4,623,891 |
County of Lehigh PA, Lehigh Valley Health Network Obligated Group, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/44 | 5,075,000 | 5,535,485 |
DuBois Hospital Authority, Penn Highlands Healthcare Obligated Group, Revenue Bonds | ||
4.00%, due 7/15/50 | 5,500,000 | 5,367,154 |
Gateway School District Alleghany County, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
3.00%, due 10/15/43 | 2,500,000 | 2,148,487 |
Geisinger Authority, Geisinger Health System Obligated Group, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/39 | 6,830,000 | 6,866,615 |
Lancaster County Hospital Authority, Penn State Health, Revenue Bonds | ||
5.00%, due 11/1/51 | 25,000,000 | 26,484,045 |
Montgomery County Higher Education and Health Authority, Thomas Jefferson University, Revenue Bonds | ||
Series B | ||
5.00%, due 5/1/57 | 7,600,000 | 8,214,466 |
Pennsylvania Economic Development Financing Authority, UPMC Obligated Group, Revenue Bonds | ||
Series A | ||
4.00%, due 11/15/36 | 4,465,000 | 4,506,398 |
Series A | ||
4.00%, due 11/15/42 | 6,650,000 | 6,592,934 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health System, Revenue Bonds | ||
4.00%, due 8/15/44 | $ 11,905,000 | $ 11,692,315 |
4.00%, due 8/15/49 | 3,650,000 | 3,550,815 |
Pennsylvania Turnpike Commission, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 12/1/44 | 8,975,000 | 10,123,104 |
Series A-1 | ||
5.00%, due 12/1/46 | 4,955,000 | 5,286,362 |
Series A, Insured: AGM | ||
5.25%, due 7/15/28 | 3,690,000 | 4,242,379 |
Series E, Insured: AGM-CR | ||
6.375%, due 12/1/38 | 2,600,000 | 3,064,597 |
Philadelphia Gas Works Co., 1998 General Ordinance, Revenue Bonds | ||
Series 14T | ||
5.00%, due 10/1/31 | 2,300,000 | 2,510,161 |
Pittsburgh School District, Limited General Obligation | ||
Insured: State Aid Withholding | ||
3.00%, due 9/1/31 | 2,455,000 | 2,416,521 |
Insured: State Aid Withholding | ||
3.00%, due 9/1/41 | 2,850,000 | 2,517,480 |
Pittsburgh Water & Sewer Authority, Revenue Bonds, First Lien | ||
Insured: AGM | ||
4.00%, due 9/1/50 | 5,250,000 | 5,244,676 |
Series A, Insured: AGM | ||
5.00%, due 9/1/44 | 3,780,000 | 4,212,527 |
State Public School Building Authority, Philadelphia Community College, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 6/15/28 | 4,755,000 | 5,049,767 |
State Public School Building Authority, School District of Philadelphia (The), Revenue Bonds | ||
Series A, Insured: AGM State Aid Withholding | ||
5.00%, due 6/1/31 | 26,975,000 | 29,383,002 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Upper Merion Area School District, Limited General Obligation | ||
Series A, Insured: State Aid Withholding | ||
3.00%, due 1/15/42 | $ 1,550,000 | $ 1,372,513 |
Series A, Insured: State Aid Withholding | ||
3.00%, due 1/15/43 | 2,750,000 | 2,412,354 |
215,504,296 | ||
Puerto Rico 0.4% | ||
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, Senior Lien | ||
Series A, Insured: AGC-ICC | ||
6.125%, due 7/1/24 | 420,000 | 434,985 |
Puerto Rico Electric Power Authority, Revenue Bonds | ||
Series DDD, Insured: AGM | ||
3.625%, due 7/1/23 | 3,115,000 | 3,148,307 |
Series UU, Insured: AGC | ||
4.25%, due 7/1/27 | 2,345,000 | 2,370,128 |
Series NN, Insured: NATL-RE | ||
4.75%, due 7/1/33 | 1,140,000 | 1,172,563 |
Series RR, Insured: NATL-RE | ||
5.00%, due 7/1/22 | 1,200,000 | 1,224,917 |
Series PP, Insured: NATL-RE | ||
5.00%, due 7/1/23 | 855,000 | 872,753 |
Series SS, Insured: NATL-RE | ||
5.00%, due 7/1/23 | 825,000 | 842,130 |
Series UU, Insured: AGM | ||
5.00%, due 7/1/23 | 2,040,000 | 2,076,463 |
Series PP, Insured: NATL-RE | ||
5.00%, due 7/1/24 | 2,665,000 | 2,720,335 |
Series UU, Insured: AGM | ||
5.00%, due 7/1/24 | 4,165,000 | 4,239,445 |
Series TT, Insured: AGM-CR | ||
5.00%, due 7/1/27 | 500,000 | 508,937 |
Series SS, Insured: AGM | ||
5.00%, due 7/1/30 | 550,000 | 559,831 |
Series VV, Insured: NATL-RE | ||
5.25%, due 7/1/26 | 1,575,000 | 1,624,276 |
Series VV, Insured: NATL-RE | ||
5.25%, due 7/1/29 | 1,470,000 | 1,517,050 |
Series VV, Insured: NATL-RE | ||
5.25%, due 7/1/32 | 1,225,000 | 1,264,060 |
Series VV, Insured: NATL-RE | ||
5.25%, due 7/1/34 | 550,000 | 566,299 |
46 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Puerto Rico (continued) | ||
Puerto Rico Highway & Transportation Authority, Revenue Bonds | ||
Series D, Insured: AGM | ||
5.00%, due 7/1/27 | $ 2,240,000 | $ 2,255,605 |
Series J, Insured: NATL-RE | ||
5.00%, due 7/1/29 | 650,000 | 664,666 |
Series L, Insured: NATL-RE | ||
5.25%, due 7/1/24 | 2,195,000 | 2,236,693 |
Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, Hospital Auxilio Mutuo Obligated Group, Revenue Bonds | ||
5.00%, due 7/1/32 | 500,000 | 557,933 |
Puerto Rico Municipal Finance Agency, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.75%, due 8/1/22 | 820,000 | 823,804 |
Series A, Insured: AGM | ||
5.00%, due 8/1/27 | 290,000 | 293,983 |
Series A, Insured: AGM | ||
5.00%, due 8/1/30 | 1,440,000 | 1,459,777 |
Series C, Insured: AGC | ||
5.25%, due 8/1/23 | 340,000 | 349,735 |
Puerto Rico Sales Tax Financing Corp., Revenue Bonds | ||
Insured: BHAC-CR | ||
(zero coupon), due 8/1/54 | 98,098 | 23,857 |
33,808,532 | ||
Rhode Island 0.3% | ||
City of Cranston RI, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 8/1/37 | 1,335,000 | 1,518,733 |
Providence Public Building Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 9/15/24 | 2,120,000 | 2,176,170 |
Providence Public Building Authority, Various Capital Projects, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.875%, due 6/15/26 | 1,565,000 | 1,570,436 |
Principal Amount | Value | |
Rhode Island (continued) | ||
Rhode Island Commerce Corp., Revenue Bonds | ||
5.00%, due 5/15/28 | $ 2,000,000 | $ 2,218,168 |
Rhode Island Health and Educational Building Corp., City of Providence, Revenue Bonds | ||
Series D, Insured: BAM State Aid Withholding | ||
4.00%, due 5/15/32 | 3,195,000 | 3,382,408 |
Rhode Island Health and Educational Building Corp., Lifespan Obligated Group, Revenue Bonds | ||
5.00%, due 5/15/26 | 4,500,000 | 4,881,637 |
Rhode Island Health and Educational Building Corp., Public Schools Financing Program, Revenue Bonds | ||
Series B | ||
5.00%, due 5/15/33 | 1,045,000 | 1,174,050 |
Series B | ||
5.00%, due 5/15/34 | 1,095,000 | 1,228,661 |
Series B | ||
5.00%, due 5/15/35 | 1,150,000 | 1,288,875 |
Series B | ||
5.00%, due 5/15/36 | 1,205,000 | 1,348,438 |
Series B | ||
5.00%, due 5/15/37 | 1,265,000 | 1,413,217 |
Rhode Island Housing and Mortgage Finance Corp., Homeownership Opportunity, Revenue Bonds | ||
Series 69-B, Insured: GNMA / FNMA / FHLMC | ||
4.00%, due 10/1/48 | 2,865,000 | 2,919,783 |
25,120,576 | ||
South Carolina 1.9% | ||
Patriots Energy Group Financing Agency, Gas Supply, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/48 (a) | 3,605,000 | 3,657,842 |
South Carolina Public Service Authority, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 12/1/41 | 6,750,000 | 5,757,076 |
Series B | ||
4.00%, due 12/1/29 | 4,417,000 | 4,682,904 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
South Carolina (continued) | ||
South Carolina Public Service Authority, Revenue Bonds (continued) | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/40 | $ 12,410,000 | $ 12,559,842 |
Series A, Insured: BAM | ||
4.00%, due 12/1/42 | 9,010,000 | 9,054,063 |
Series B | ||
4.00%, due 12/1/51 | 2,345,000 | 2,268,678 |
Series A, Insured: BAM | ||
4.00%, due 12/1/52 | 26,450,000 | 25,899,840 |
Series A | ||
5.00%, due 12/1/32 | 9,000,000 | 9,624,215 |
Series A | ||
5.00%, due 12/1/43 | 13,500,000 | 14,815,387 |
Series B | ||
5.00%, due 12/1/46 | 3,125,000 | 3,314,635 |
Series B | ||
5.00%, due 12/1/56 | 2,500,000 | 2,638,857 |
South Carolina Public Service Authority, Santee Cooper Project, Revenue Bonds | ||
Series B | ||
4.00%, due 12/1/55 | 28,731,000 | 27,401,878 |
Series D | ||
5.00%, due 12/1/26 | 1,215,000 | 1,218,593 |
South Carolina State Housing Finance & Development Authority, Revenue Bonds | ||
Series A | ||
4.50%, due 7/1/48 | 2,550,000 | 2,623,373 |
South Carolina Transportation Infrastructure Bank, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/35 | 5,310,000 | 5,827,469 |
Series A | ||
5.00%, due 10/1/36 | 13,450,000 | 14,727,749 |
Sumter Two School Facilities, Inc., Sumter School District Project, Revenue Bonds | ||
Series C, Insured: BAM | ||
5.00%, due 12/1/27 | 1,100,000 | 1,183,245 |
147,255,646 |
Principal Amount | Value | |
South Dakota 0.1% | ||
South Dakota Conservancy District, State Revolving Fund Program, Revenue Bonds | ||
5.00%, due 8/1/37 | $ 1,750,000 | $ 1,967,936 |
5.00%, due 8/1/38 | 2,500,000 | 2,807,565 |
4,775,501 | ||
Tennessee 0.6% | ||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Belmont University, Revenue Bonds | ||
4.00%, due 5/1/39 | 2,640,000 | 2,627,066 |
4.00%, due 5/1/40 | 2,765,000 | 2,742,857 |
Metropolitan Nashville Airport Authority (The), Revenue Bonds (b) | ||
Series B | ||
5.00%, due 7/1/32 | 2,500,000 | 2,719,764 |
Series B | ||
5.00%, due 7/1/33 | 4,950,000 | 5,374,326 |
Series B | ||
5.00%, due 7/1/49 | 16,415,000 | 17,398,097 |
Series B | ||
5.00%, due 7/1/54 | 9,850,000 | 10,354,330 |
Tennessee Housing Development Agency, Revenue Bonds | ||
4.50%, due 7/1/49 | 4,755,000 | 4,902,874 |
46,119,314 | ||
Texas 5.7% | ||
Bexar County Hospital District, Certficates of Obligation, Limited General Obligation | ||
4.00%, due 2/15/37 | 3,700,000 | 3,829,440 |
Central Texas Turnpike System, Revenue Bonds, First Tier | ||
Series A, Insured: AMBAC | ||
(zero coupon), due 8/15/28 | 4,750,000 | 3,852,192 |
Central Texas Turnpike System, Revenue Bonds | ||
Series C | ||
5.00%, due 8/15/34 | 4,250,000 | 4,390,143 |
Series C | ||
5.00%, due 8/15/42 | 2,135,000 | 2,197,388 |
City of Austin TX, Airport System, Revenue Bonds (b) | ||
5.00%, due 11/15/24 | 3,750,000 | 3,944,205 |
5.00%, due 11/15/25 | 3,750,000 | 4,009,804 |
48 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
City of Austin TX, Airport System, Revenue Bonds (b) (continued) | ||
Series B | ||
5.00%, due 11/15/44 | $ 30,195,000 | $ 32,156,026 |
City of Austin TX, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/29 | 2,850,000 | 3,269,041 |
5.00%, due 11/15/52 (c) | 11,500,000 | 12,405,725 |
5.25%, due 11/15/47 (c) | 17,500,000 | 19,565,058 |
City of Corpus Christi TX, Utility System, Revenue Bonds, Junior Lien | ||
Series A | ||
3.00%, due 7/15/40 | 3,085,000 | 2,820,374 |
City of Dallas TX, Hotel Occupancy Tax, Revenue Bonds | ||
4.00%, due 8/15/33 | 1,000,000 | 1,031,873 |
City of Donna TX, Tax & International Toll Bridge, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/30 | 1,035,000 | 1,081,859 |
City of Houston TX, Airport System, Revenue Bonds, Sub. Lien | ||
Series A | ||
4.00%, due 7/1/41 (b) | 2,250,000 | 2,216,136 |
City of Houston TX, Limited General Obligation | ||
Series A | ||
5.00%, due 3/1/25 | 2,000,000 | 2,135,232 |
Series A | ||
5.00%, due 3/1/29 | 4,250,000 | 4,678,082 |
City of Houston TX, Hotel Occupancy Tax & Special Tax, Revenue Bonds | ||
5.00%, due 9/1/26 | 565,000 | 593,318 |
5.00%, due 9/1/31 | 2,450,000 | 2,560,944 |
5.00%, due 9/1/34 | 1,550,000 | 1,619,833 |
City of Lubbock TX, Revenue Bonds | ||
Insured: AGM-CR | ||
4.00%, due 4/15/51 | 5,700,000 | 5,733,551 |
5.00%, due 4/15/32 | 1,300,000 | 1,473,521 |
City of San Antonio TX, Electric & Gas Systems, Revenue Bonds, Junior Lien | ||
5.00%, due 2/1/26 | 800,000 | 866,552 |
5.00%, due 2/1/28 | 1,250,000 | 1,395,156 |
5.00%, due 2/1/40 | 2,000,000 | 2,257,569 |
Principal Amount | Value | |
Texas (continued) | ||
City of San Antonio TX, Electric & Gas Systems, Revenue Bonds, Junior Lien (continued) | ||
5.00%, due 2/1/42 | $ 2,545,000 | $ 2,857,336 |
City of San Antonio TX, Electric & Gas Systems, Revenue Bonds | ||
5.25%, due 2/1/25 | 13,100,000 | 14,002,200 |
Conroe Independent School District, Unlimited General Obligation | ||
Series A, Insured: PSF-GTD | ||
5.00%, due 2/15/27 | 3,750,000 | 4,154,979 |
County of Williamson TX, Limited General Obligation | ||
4.00%, due 2/15/28 | 12,000,000 | 12,849,421 |
Dallas Area Rapid Transit, Revenue Bonds, Senior Lien | ||
Series B | ||
4.00%, due 12/1/36 | 8,000,000 | 8,321,269 |
Series A | ||
5.00%, due 12/1/45 | 6,320,000 | 7,046,420 |
Series B | ||
5.00%, due 12/1/47 | 21,380,000 | 23,837,513 |
Dallas County Hospital District, Limited General Obligation | ||
5.00%, due 8/15/30 | 8,900,000 | 10,053,323 |
Dallas Fort Worth International Airport, Revenue Bonds | ||
Series B, Insured: BAM | ||
4.00%, due 11/1/35 | 21,040,000 | 21,520,568 |
Duncanville Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
3.00%, due 2/15/25 | 4,750,000 | 4,803,898 |
Fort Bend Independent School District, Unlimited General Obligation | ||
Series C, Insured: PSF-GTD | ||
5.00%, due 8/15/26 | 3,020,000 | 3,314,857 |
Grand Parkway Transportation Corp., Revenue Bonds, First Tier | ||
Series C | ||
4.00%, due 10/1/49 | 45,260,000 | 44,610,519 |
Grand Parkway Transportation Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/35 | 1,500,000 | 1,649,151 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Grand Parkway Transportation Corp., Revenue Bonds (continued) | ||
Series A | ||
5.00%, due 10/1/43 | $ 7,725,000 | $ 8,362,057 |
Harris County Cultural Education Facilities Finance Corp., Memorial Hermann Health System, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/38 | 3,780,000 | 4,065,836 |
Harris County Flood Control District, Limited General Obligation | ||
Series A | ||
5.00%, due 10/1/32 | 5,000,000 | 5,685,808 |
Love Field Airport Modernization Corp., Revenue Bonds (b) | ||
Insured: AGM | ||
4.00%, due 11/1/35 | 6,200,000 | 6,165,218 |
Insured: AGM | ||
4.00%, due 11/1/36 | 7,000,000 | 6,945,562 |
Insured: AGM | ||
4.00%, due 11/1/38 | 6,000,000 | 5,924,608 |
Insured: AGM | ||
5.00%, due 11/1/33 | 9,610,000 | 10,605,464 |
Lower Colorado River Authority, LCRA Transmission Services Corp., Revenue Bonds | ||
Insured: AGM-CR | ||
5.00%, due 5/15/51 | 6,570,000 | 7,190,865 |
Series A | ||
5.00%, due 5/15/51 | 6,200,000 | 6,748,035 |
North Texas Municipal Water District, Water System, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/27 | 5,500,000 | 6,160,450 |
North Texas Tollway Authority, North Texas Tollway System, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/34 | 1,400,000 | 1,467,579 |
Series A | ||
5.00%, due 1/1/35 | 2,700,000 | 2,828,922 |
Series A, Insured: BAM | ||
5.00%, due 1/1/38 | 8,575,000 | 9,069,982 |
State of Texas, Unlimited General Obligation | ||
5.00%, due 4/1/25 | 4,080,000 | 4,374,924 |
Principal Amount | Value | |
Texas (continued) | ||
State of Texas, Unlimited General Obligation (continued) | ||
Series B | ||
5.00%, due 8/1/39 (c) | $ 2,000,000 | $ 2,127,738 |
Tarrant County Cultural Education Facilities Finance Corp., Buckner Retirement Services, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/23 | 1,245,000 | 1,289,911 |
Series A | ||
5.00%, due 11/15/24 | 1,305,000 | 1,377,496 |
Series A | ||
5.00%, due 11/15/25 | 1,370,000 | 1,471,589 |
Series A | ||
5.00%, due 11/15/26 | 1,190,000 | 1,294,870 |
Series B | ||
5.00%, due 11/15/46 | 3,090,000 | 3,254,705 |
Texas Department of Housing & Community Affairs, Residential Mortgage, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA | ||
4.75%, due 1/1/49 | 15,000 | 15,512 |
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds | ||
5.00%, due 12/15/26 | 3,450,000 | 3,651,351 |
5.00%, due 12/15/27 | 8,930,000 | 9,510,473 |
5.00%, due 12/15/30 | 6,000,000 | 6,471,082 |
5.00%, due 12/15/32 | 5,000,000 | 5,436,126 |
Texas Municipal Gas Acquisition & Supply Corp. III, Gas Supply, Revenue Bonds | ||
5.00%, due 12/15/28 | 4,650,000 | 4,976,474 |
Texas Municipal Power Agency, Transmission System, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 9/1/46 | 4,500,000 | 3,912,290 |
Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group LLC, Revenue Bonds, Senior Lien | ||
4.00%, due 12/31/37 | 3,750,000 | 3,785,204 |
4.00%, due 12/31/38 | 2,750,000 | 2,768,806 |
4.00%, due 6/30/39 | 2,750,000 | 2,761,869 |
50 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Texas Public Finance Authority, Financing System-Texas Southern University, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 5/1/31 | $ 1,000,000 | $ 1,021,262 |
Insured: BAM | ||
4.00%, due 5/1/32 | 1,295,000 | 1,321,159 |
Texas State University System, Revenue Bonds | ||
Series A | ||
4.00%, due 3/15/35 | 2,000,000 | 2,082,316 |
Texas Water Development Board, Revenue Bonds | ||
4.00%, due 4/15/51 | 8,435,000 | 8,572,377 |
Town of Prosper TX, Certificates Of Obligation, Limited General Obligation | ||
4.00%, due 2/15/31 | 1,235,000 | 1,312,520 |
Viridian Municipal Management District, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
6.00%, due 12/1/32 | 500,000 | 544,217 |
West Harris County Regional Water Authority, Revenue Bonds | ||
Insured: BAM | ||
3.50%, due 12/15/46 | 7,465,000 | 7,027,368 |
5.00%, due 12/15/39 | 1,200,000 | 1,366,669 |
442,053,170 | ||
U.S. Virgin Islands 1.0% | ||
Matching Fund Special Purpose Securitization Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/30 | 12,555,000 | 13,102,554 |
Series A | ||
5.00%, due 10/1/32 | 12,555,000 | 13,124,899 |
Series A | ||
5.00%, due 10/1/39 | 37,670,000 | 38,589,528 |
Virgin Islands Public Finance Authority, Revenue Bonds | ||
5.00%, due 9/1/30 (d) | 5,000,000 | 5,300,843 |
Principal Amount | Value | |
U.S. Virgin Islands (continued) | ||
Virgin Islands Public Finance Authority, United States Virgin Islands, Revenue Bonds | ||
Series C, Insured: AGM-CR | ||
5.00%, due 10/1/39 | $ 5,120,000 | $ 5,310,345 |
75,428,169 | ||
Utah 2.9% | ||
City of Salt Lake City UT, Airport, Revenue Bonds (b) | ||
Series A | ||
4.00%, due 7/1/41 | 10,685,000 | 10,440,990 |
Series A, Insured: AGM-CR | ||
4.00%, due 7/1/51 | 54,680,000 | 52,291,107 |
Series A | ||
5.00%, due 7/1/35 | 10,000,000 | 10,986,193 |
Series A | ||
5.00%, due 7/1/42 | 16,840,000 | 17,720,133 |
Series A, Insured: BAM | ||
5.00%, due 7/1/43 | 20,305,000 | 21,510,532 |
Series A | ||
5.00%, due 7/1/47 | 5,000,000 | 5,249,675 |
Series A | ||
5.00%, due 7/1/51 | 6,675,000 | 7,154,441 |
County of Utah UT, IHC Health Services, Inc., Revenue Bonds | ||
Series A | ||
4.00%, due 5/15/43 | 8,610,000 | 8,578,978 |
Series B | ||
4.00%, due 5/15/47 | 1,670,000 | 1,670,602 |
Series A | ||
5.00%, due 5/15/43 | 17,725,000 | 19,565,523 |
Intermountain Power Agency, Revenue Bonds (c) | ||
Series A | ||
5.00%, due 7/1/33 | 4,950,000 | 5,697,691 |
Series A | ||
5.00%, due 7/1/45 | 16,295,000 | 18,160,706 |
Park City School District, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
5.00%, due 2/1/24 | 2,300,000 | 2,411,990 |
State of Utah, Unlimited General Obligation | ||
5.00%, due 7/1/26 | 1,700,000 | 1,874,690 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Utah (continued) | ||
Utah Charter School Finance Authority, Syracuse Arts Academy Project, Revenue Bonds | ||
Series A, Insured: BAM UT CSCE | ||
3.00%, due 4/15/42 | $ 1,000,000 | $ 842,630 |
Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/45 | 2,225,000 | 2,217,393 |
Utah Housing Corp., Revenue Bonds | ||
Series E, Insured: GNMA | ||
2.00%, due 4/21/51 | 8,073,284 | 7,578,848 |
Utah Housing Corp., Mortgage-Backed, Revenue Bonds | ||
Series H, Insured: GNMA | ||
4.50%, due 10/21/48 | 771,104 | 779,273 |
Series J, Insured: GNMA | ||
4.50%, due 12/21/48 | 951,743 | 967,665 |
Series A, Insured: GNMA | ||
4.50%, due 1/21/49 | 2,065,760 | 2,100,318 |
Series B, Insured: GNMA | ||
4.50%, due 2/21/49 | 1,367,168 | 1,390,039 |
Utah Infrastructure Agency, Revenue Bonds | ||
5.00%, due 10/15/38 | 1,990,000 | 2,180,758 |
5.00%, due 10/15/41 | 2,175,000 | 2,374,474 |
Utah Transit Authority, Revenue Bonds | ||
Series 2018-2 | ||
4.00%, due 12/15/41 | 12,000,000 | 12,526,452 |
Utah Transit Authority, Sales Tax, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 12/15/40 | 2,780,000 | 3,091,278 |
Weber Basin Water Conservancy District, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/44 | 4,380,000 | 4,929,312 |
224,291,691 | ||
Vermont 0.0% ‡ | ||
Vermont Educational & Health Buildings Financing Agency, Middlebury College Project, Revenue Bonds | ||
4.00%, due 11/1/36 | 1,250,000 | 1,298,281 |
Principal Amount | Value | |
Virginia 0.9% | ||
Arlington County Industrial Development Authority, Virginia Hospital Center, Revenue Bonds | ||
3.75%, due 7/1/50 | $ 9,050,000 | $ 8,400,883 |
4.00%, due 7/1/45 | 10,650,000 | 10,597,214 |
Fairfax County Industrial Development Authority, Inova Health System Project, Revenue Bonds | ||
3.50%, due 5/15/39 | 5,500,000 | 5,314,466 |
Hampton Roads Transportation Accountability Commission, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/52 | 14,500,000 | 14,398,645 |
Hampton Roads Transportation Accountability Commission, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/26 | 20,500,000 | 22,487,163 |
Lynchburg Economic Development Authority, Centra Health Obligated Group, Revenue Bonds | ||
4.00%, due 1/1/37 | 1,350,000 | 1,354,154 |
4.00%, due 1/1/47 | 1,100,000 | 1,072,850 |
Virginia Housing Development Authority, Revenue Bonds | ||
Series B | ||
3.35%, due 5/1/54 | 3,475,000 | 2,974,054 |
66,599,429 | ||
Washington 0.8% | ||
Central Puget Sound Regional Transit Authority, Sales Tax & Motor Vehicle Excise Tax, Green Bond, Revenue Bonds | ||
Series S-1 | ||
3.00%, due 11/1/36 | 3,700,000 | 3,409,286 |
Energy Northwest, Columbia Generating Station, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/33 | 6,300,000 | 7,235,702 |
State of Washington, Unlimited General Obligation | ||
Series A | ||
5.00%, due 8/1/42 | 4,500,000 | 5,131,223 |
52 | MainStay MacKay Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Washington (continued) | ||
University of Washington, Revenue Bonds | ||
Series C | ||
4.00%, due 12/1/30 | $ 7,500,000 | $ 7,738,749 |
Series B | ||
4.00%, due 6/1/37 | 4,000,000 | 4,095,084 |
Series A | ||
4.00%, due 4/1/38 | 1,860,000 | 1,916,519 |
Series A | ||
4.00%, due 4/1/39 | 2,095,000 | 2,150,723 |
Series B | ||
5.00%, due 6/1/37 | 2,515,000 | 2,671,490 |
Washington Higher Education Facilities Authority, Seattle Pacific University Project, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/32 | 1,330,000 | 1,470,909 |
Series A | ||
5.00%, due 10/1/35 | 1,000,000 | 1,101,169 |
Series A | ||
5.00%, due 10/1/38 | 1,175,000 | 1,289,407 |
Series A | ||
5.00%, due 10/1/45 | 1,600,000 | 1,738,867 |
Washington State Convention Center Public Facilities District, Lodging Tax, Revenue Bonds | ||
Series B, Insured: AGM | ||
3.00%, due 7/1/58 | 3,390,000 | 2,461,952 |
Series B, Insured: AGM | ||
3.00%, due 7/1/58 | 20,140,000 | 14,626,463 |
Washington State Housing Finance Commission, Single Family Program, Revenue Bonds | ||
Series 1N | ||
4.00%, due 12/1/48 | 3,545,000 | 3,609,982 |
Series 1N | ||
4.00%, due 6/1/49 | 220,000 | 224,166 |
60,871,691 | ||
Wisconsin 0.5% | ||
Public Finance Authority, Bayhealth Medical Center Project, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 7/1/50 | 14,645,000 | 11,596,065 |
Principal Amount | Value | |
Wisconsin (continued) | ||
Public Finance Authority, Appalachian Regional Healthcare System Obligated Group, Revenue Bonds | ||
5.00%, due 7/1/39 | $ 350,000 | $ 374,328 |
State of Wisconsin, Unlimited General Obligation | ||
Series B | ||
5.00%, due 5/1/31 | 5,470,000 | 6,201,416 |
Series B | ||
5.00%, due 5/1/32 | 3,920,000 | 4,428,698 |
Wisconsin Center District, Junior Dedicated, Revenue Bonds, Junior Lien | ||
Series A | ||
5.00%, due 12/15/31 | 3,165,000 | 3,228,553 |
Series A | ||
5.00%, due 12/15/32 | 2,600,000 | 2,652,208 |
Wisconsin Health & Educational Facilities Authority, Aspirus, Inc. Obligated Group, Revenue Bonds | ||
4.00%, due 8/15/46 | 11,100,000 | 10,630,781 |
Wisconsin Housing & Economic Development Authority, Revenue Bonds | ||
Series D | ||
4.00%, due 3/1/47 | 3,080,000 | 3,128,168 |
42,240,217 | ||
Wyoming 0.1% | ||
University of Wyoming, Revenue Bonds | ||
Series C | ||
5.00%, due 6/1/25 | 2,000,000 | 2,141,523 |
Wyoming Community Development Authority, Revenue Bonds | ||
Series 3 | ||
4.00%, due 6/1/43 | 2,490,000 | 2,534,191 |
Series 1 | ||
4.00%, due 12/1/48 | 2,595,000 | 2,643,635 |
7,319,349 | ||
Total Long-Term Municipal Bonds (Cost $7,614,258,992) | 7,273,033,185 |
Principal Amount | Value | |
Short-Term Municipal Notes 2.5% | ||
Alabama 0.6% | ||
Black Belt Energy Gas District, Gas Project No.7, Revenue Bonds | ||
Series C-2 | ||
0.79%, due 10/1/52 (e) | $ 46,200,000 | $ 45,079,742 |
California 0.2% | ||
Metropolitan Water District of Southern California, Waterworks, Revenue Bonds | ||
Series C | ||
0.58%, due 7/1/47 (e) | 13,550,000 | 13,514,962 |
Colorado 0.1% | ||
E-470 Public Highway Authority, Revenue Bonds | ||
Series B | ||
0.538%, due 9/1/39 (e) | 6,700,000 | 6,566,744 |
Georgia 0.1% | ||
Development Authority of Appling County, Oglethorpe Power Corp. Project, Revenue Bonds | ||
Series A | ||
1.50%, due 1/1/38 (e) | 2,500,000 | 2,411,211 |
Development Authority of Burke County (The), Oglethorpe Power Corp. Project, Revenue Bonds | ||
Series A | ||
1.50%, due 1/1/40 (e) | 6,615,000 | 6,380,066 |
Development Authority of Monroe County (The), Oglethorpe Power Corp. Scherer Project, Revenue Bonds | ||
Series A | ||
1.50%, due 1/1/39 (e) | 3,500,000 | 3,375,696 |
12,166,973 | ||
Kentucky 0.2% | ||
Kentucky Public Energy Authority, Revenue Bonds | ||
Series A-2 | ||
1.388%, due 8/1/52 (e) | 19,660,000 | 19,227,362 |
Principal Amount | Value | |
New Jersey 0.3% | ||
New Jersey Turnpike Authority, Revenue Bonds | ||
Series D-1 | ||
1.019%, due 1/1/24 (e) | $ 23,250,000 | $ 23,356,153 |
New York 0.5% | ||
City of New York NY, Limited General Obligation | ||
Series 2 | ||
0.64%, due 4/1/42 (e) | 9,900,000 | 9,900,000 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Series D-2B, Insured: AGM | ||
0.738%, due 11/1/32 (e) | 25,350,000 | 25,335,951 |
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds | ||
Series 2005B-4A | ||
0.568%, due 1/1/32 (e) | 2,691,108 | 2,685,781 |
37,921,732 | ||
Texas 0.5% | ||
Texas Municipal Gas Acquisition & Supply Corp. II, Revenue Bonds | ||
Series C | ||
1.235%, due 9/15/27 (e) | 39,050,000 | 38,331,874 |
Total Short-Term Municipal Notes (Cost $199,174,367) | 196,165,542 | |
Total Investments (Cost $7,813,433,359) | 96.2% | 7,469,198,727 |
Other Assets, Less Liabilities | 3.8 | 292,774,950 |
Net Assets | 100.0% | $ 7,761,973,677 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of April 30, 2022. |
(b) | Interest on these securities was subject to alternative minimum tax. |
(c) | Delayed delivery security. |
(d) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
54 | MainStay MacKay Tax Free Bond Fund |
(e) | Variable-rate demand notes (VRDNs)—Provide the right to sell the security at face value on either that day or within the rate-reset period. VRDNs will normally trade as if the maturity is the earlier put date, even though stated maturity is longer. The interest rate is reset on the put date at a stipulated daily, weekly, monthly, quarterly, or other specified time interval to reflect current market conditions. These securities do not indicate a reference rate and spread in their description. The maturity date shown is the final maturity. |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Short Contracts | |||||
U.S. Treasury 10 Year Notes | (6,400) | June 2022 | $ (801,408,718) | $ (762,600,000) | $ 38,808,718 |
U.S. Treasury Long Bonds | (1,460) | June 2022 | (222,130,240) | (205,403,750) | 16,726,490 |
Net Unrealized Appreciation | $ 55,535,208 |
1. | As of April 30, 2022, cash in the amount of $15,990,000 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of April 30, 2022. |
Abbreviation(s): |
AGC—Assured Guaranty Corp. |
AGM—Assured Guaranty Municipal Corp. |
AMBAC—Ambac Assurance Corp. |
BAM—Build America Mutual Assurance Co. |
BHAC—Berkshire Hathaway Assurance Corp. |
CR—Custodial Receipts |
FHA—Federal Housing Administration |
FHLMC—Federal Home Loan Mortgage Corp. |
FNMA—Federal National Mortgage Association |
GNMA—Government National Mortgage Association |
ICC—Insured Custody Certificates |
MUN GOVT GTD—Municipal Government Guaranteed |
NATL-RE—National Public Finance Guarantee Corp. |
PSF-GTD—Permanent School Fund Guaranteed |
Q-SBLF—Qualified School Board Loan Fund |
SD CRED PROG—School District Credit Enhancement Program |
UT CSCE—Utah Charter School Credit Enhancement Program |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Municipal Bonds | ||||
Long-Term Municipal Bonds | $ — | $ 7,273,033,185 | $ — | $ 7,273,033,185 |
Short-Term Municipal Notes | — | 196,165,542 | — | 196,165,542 |
Total Municipal Bonds | — | 7,469,198,727 | — | 7,469,198,727 |
Other Financial Instruments | ||||
Futures Contracts (b) | 55,535,208 | — | — | 55,535,208 |
Total Investments in Securities and Other Financial Instruments | $ 55,535,208 | $ 7,469,198,727 | $ — | $ 7,524,733,935 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
56 | MainStay MacKay Tax Free Bond Fund |
Assets | |
Investment in securities, at value (identified cost $7,813,433,359) | $7,469,198,727 |
Cash | 152,136,297 |
Cash collateral on deposit at broker for futures contracts | 15,990,000 |
Receivables: | |
Investment securities sold | 188,021,146 |
Fund shares sold | 162,593,558 |
Interest | 90,300,612 |
Variation margin on futures contracts | 196,117 |
Other assets | 201,093 |
Total assets | 8,078,637,550 |
Liabilities | |
Payables: | |
Investment securities purchased | 267,664,828 |
Fund shares redeemed | 39,502,256 |
Manager (See Note 3) | 2,700,643 |
Transfer agent (See Note 3) | 819,739 |
NYLIFE Distributors (See Note 3) | 470,742 |
Custodian | 36,096 |
Professional fees | 7,029 |
Trustees | 4,460 |
Accrued expenses | 21,923 |
Distributions payable | 5,436,157 |
Total liabilities | 316,663,873 |
Net assets | $7,761,973,677 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $8,151,313 |
Additional paid-in-capital | 8,363,783,227 |
8,371,934,540 | |
Total distributable earnings (loss) | (609,960,863) |
Net assets | $7,761,973,677 |
Class A | |
Net assets applicable to outstanding shares | $1,861,634,320 |
Shares of beneficial interest outstanding | 195,544,876 |
Net asset value per share outstanding | $9.52 |
Maximum sales charge (4.50% of offering price) | 0.45 |
Maximum offering price per share outstanding | $9.97 |
Investor Class | |
Net assets applicable to outstanding shares | $7,300,239 |
Shares of beneficial interest outstanding | 763,387 |
Net asset value per share outstanding | $9.56 |
Maximum sales charge (4.00% of offering price) | 0.40 |
Maximum offering price per share outstanding | $9.96 |
Class B | |
Net assets applicable to outstanding shares | $5,520,375 |
Shares of beneficial interest outstanding | 580,033 |
Net asset value and offering price per share outstanding | $9.52 |
Class C | |
Net assets applicable to outstanding shares | $154,598,230 |
Shares of beneficial interest outstanding | 16,235,218 |
Net asset value and offering price per share outstanding | $9.52 |
Class C2 | |
Net assets applicable to outstanding shares | $3,317,311 |
Shares of beneficial interest outstanding | 348,577 |
Net asset value and offering price per share outstanding | $9.52 |
Class I | |
Net assets applicable to outstanding shares | $5,032,102,313 |
Shares of beneficial interest outstanding | 528,444,881 |
Net asset value and offering price per share outstanding | $9.52 |
Class R6 | |
Net assets applicable to outstanding shares | $697,500,889 |
Shares of beneficial interest outstanding | 73,214,346 |
Net asset value and offering price per share outstanding | $9.53 |
Investment Income (Loss) | |
Income | |
Interest | $106,811,635 |
Expenses | |
Manager (See Note 3) | 18,029,902 |
Distribution/Service—Class A (See Note 3) | 3,115,631 |
Distribution/Service—Investor Class (See Note 3) | 10,300 |
Distribution/Service—Class B (See Note 3) | 15,973 |
Distribution/Service—Class C (See Note 3) | 450,680 |
Distribution/Service—Class C2 (See Note 3) | 10,894 |
Transfer agent (See Note 3) | 3,185,184 |
Professional fees | 234,775 |
Shareholder communication | 170,484 |
Registration | 149,932 |
Trustees | 88,693 |
Custodian | 76,937 |
Miscellaneous | 128,972 |
Total expenses | 25,668,357 |
Net investment income (loss) | 81,143,278 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | (254,448,890) |
In-kind Transactions | 34,551,632 |
Futures transactions | 40,241,355 |
Net realized gain (loss) | (179,655,903) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (721,062,889) |
Futures contracts | 43,463,580 |
Net change in unrealized appreciation (depreciation) | (677,599,309) |
Net realized and unrealized gain (loss) | (857,255,212) |
Net increase (decrease) in net assets resulting from operations | $(776,111,934) |
58 | MainStay MacKay Tax Free Bond Fund |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $81,143,278 | $152,448,970 |
Net realized gain (loss) | (179,655,903) | 52,825,004 |
Net change in unrealized appreciation (depreciation) | (677,599,309) | 96,257,712 |
Net increase (decrease) in net assets resulting from operations | (776,111,934) | 301,531,686 |
Distributions to shareholders: | ||
Class A | (37,298,491) | (62,271,084) |
Investor Class | (120,968) | (194,857) |
Class B | (86,072) | (154,197) |
Class C | (2,422,933) | (4,017,163) |
Class C2 | (41,423) | (28,298) |
Class I | (91,095,324) | (123,894,470) |
Class R6 | (6,450,714) | (6,007,788) |
Total distributions to shareholders | (137,515,925) | (196,567,857) |
Capital share transactions: | ||
Net proceeds from sales of shares | 3,236,748,900 | 3,301,684,748 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 100,636,547 | 144,640,383 |
Cost of shares redeemed | (3,064,592,133) | (1,760,456,507) |
Redemptions in-kind | (930,537,398) | — |
Increase (decrease) in net assets derived from capital share transactions | (657,744,084) | 1,685,868,624 |
Net increase (decrease) in net assets | (1,571,371,943) | 1,790,832,453 |
Net Assets | ||
Beginning of period | 9,333,345,620 | 7,542,513,167 |
End of period | $7,761,973,677 | $9,333,345,620 |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $10.60 | $10.43 | $10.33 | $9.80 | $10.02 | $10.18 |
Net investment income (loss) | 0.08(a) | 0.17(a) | 0.26 | 0.30 | 0.31 | 0.31 |
Net realized and unrealized gain (loss) | (1.01) | 0.23 | 0.11 | 0.53 | (0.22) | (0.16) |
Total from investment operations | (0.93) | 0.40 | 0.37 | 0.83 | 0.09 | 0.15 |
Less distributions: | ||||||
From net investment income | (0.12) | (0.23) | (0.27) | (0.30) | (0.31) | (0.31) |
From net realized gain on investments | (0.03) | — | — | — | — | — |
Total distributions | (0.15) | (0.23) | (0.27) | (0.30) | (0.31) | (0.31) |
Net asset value at end of period | $9.52 | $10.60 | $10.43 | $10.33 | $9.80 | $10.02 |
Total investment return (b) | (8.87)% | 3.84% | 3.66% | 8.55% | 0.94% | 1.50% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.65%†† | 1.63% | 2.04% | 2.93% | 3.15% | 3.05% |
Net expenses (c) | 0.75%†† | 0.73% | 0.75% | 0.78% | 0.80% | 0.81% |
Portfolio turnover rate | 60% (d)(e) | 39%(d) | 72%(d) | 38%(d) | 40% | 62% |
Net assets at end of period (in 000’s) | $1,861,634 | $3,134,090 | $2,674,765 | $1,728,643 | $1,405,803 | $1,564,955 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rate excludes in-kind transactions. |
60 | MainStay MacKay Tax Free Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $10.65 | $10.48 | $10.38 | $9.84 | $10.06 | $10.23 |
Net investment income (loss) | 0.09(a) | 0.17(a) | 0.20 | 0.30 | 0.32 | 0.31 |
Net realized and unrealized gain (loss) | (1.03) | 0.23 | 0.17 | 0.54 | (0.22) | (0.17) |
Total from investment operations | (0.94) | 0.40 | 0.37 | 0.84 | 0.10 | 0.14 |
Less distributions: | ||||||
From net investment income | (0.12) | (0.23) | (0.27) | (0.30) | (0.32) | (0.31) |
From net realized gain on investments | (0.03) | — | — | — | — | — |
Total distributions | (0.15) | (0.23) | (0.27) | (0.30) | (0.32) | (0.31) |
Net asset value at end of period | $9.56 | $10.65 | $10.48 | $10.38 | $9.84 | $10.06 |
Total investment return (b) | (8.93)% | 3.80% | 3.64% | 8.63% | 0.97% | 1.43% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.66%†† | 1.61% | 2.04% | 2.95% | 3.17% | 3.10% |
Net expenses (c) | 0.76%†† | 0.76% | 0.76% | 0.77% | 0.78% | 0.79% |
Portfolio turnover rate | 60% (d)(e) | 39%(d) | 72%(d) | 38%(d) | 40% | 62% |
Net assets at end of period (in 000's) | $7,300 | $9,027 | $9,334 | $9,815 | $9,690 | $10,216 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rate excludes in-kind transactions. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $10.60 | $10.43 | $10.33 | $9.80 | $10.01 | $10.18 |
Net investment income (loss) | 0.07(a) | 0.15(a) | 0.12 | 0.27 | 0.29 | 0.28 |
Net realized and unrealized gain (loss) | (1.01) | 0.22 | 0.23 | 0.53 | (0.21) | (0.17) |
Total from investment operations | (0.94) | 0.37 | 0.35 | 0.80 | 0.08 | 0.11 |
Less distributions: | ||||||
From net investment income | (0.11) | (0.20) | (0.25) | (0.27) | (0.29) | (0.28) |
From net realized gain on investments | (0.03) | — | — | — | — | — |
Total distributions | (0.14) | (0.20) | (0.25) | (0.27) | (0.29) | (0.28) |
Net asset value at end of period | $9.52 | $10.60 | $10.43 | $10.33 | $9.80 | $10.01 |
Total investment return (b) | (8.99)% | 3.56% | 3.38% | 8.28% | 0.81% | 1.17% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.42%†† | 1.38% | 1.80% | 2.71% | 2.92% | 2.85% |
Net expenses (c) | 1.01%†† | 1.01% | 1.01% | 1.02% | 1.03% | 1.04% |
Portfolio turnover rate | 60% (d)(e) | 39%(d) | 72%(d) | 38%(d) | 40% | 62% |
Net assets at end of period (in 000’s) | $5,520 | $7,006 | $9,286 | $12,354 | $14,704 | $17,068 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rate excludes in-kind transactions. |
62 | MainStay MacKay Tax Free Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $10.60 | $10.44 | $10.34 | $9.80 | $10.02 | $10.18 |
Net investment income (loss) | 0.07(a) | 0.15(a) | 0.18 | 0.27 | 0.29 | 0.28 |
Net realized and unrealized gain (loss) | (1.01) | 0.21 | 0.17 | 0.54 | (0.22) | (0.16) |
Total from investment operations | (0.94) | 0.36 | 0.35 | 0.81 | 0.07 | 0.12 |
Less distributions: | ||||||
From net investment income | (0.11) | (0.20) | (0.25) | (0.27) | (0.29) | (0.28) |
From net realized gain on investments | (0.03) | — | — | — | — | — |
Total distributions | (0.14) | (0.20) | (0.25) | (0.27) | (0.29) | (0.28) |
Net asset value at end of period | $9.52 | $10.60 | $10.44 | $10.34 | $9.80 | $10.02 |
Total investment return (b) | (8.99)% | 3.46% | 3.38% | 8.39% | 0.71% | 1.27% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.41%†† | 1.37% | 1.79% | 2.69% | 2.92% | 2.85% |
Net expenses (c) | 1.01%†† | 1.01% | 1.01% | 1.02% | 1.03% | 1.04% |
Portfolio turnover rate | 60% (d)(e) | 39%(d) | 72%(d) | 38%(d) | 40% | 62% |
Net assets at end of period (in 000’s) | $154,598 | $194,545 | $220,146 | $225,762 | $213,883 | $241,526 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rate excludes in-kind transactions. |
Six months ended April 30, 2022* | Year Ended October 31, | August 31, 2020^ through October 31, 2020 | |
Class C2 | 2021 | ||
Net asset value at beginning of period | $10.60 | $10.43 | $10.52 |
Net investment income (loss) | 0.07(a) | 0.12(a) | 0.03 |
Net realized and unrealized gain (loss) | (1.02) | 0.23 | (0.09) |
Total from investment operations | (0.95) | 0.35 | (0.06) |
Less distributions: | |||
From net investment income | (0.10) | (0.18) | (0.03) |
From net realized gain on investments | (0.03) | — | — |
Total distributions | (0.13) | (0.18) | (0.03) |
Net asset value at end of period | $9.52 | $10.60 | $10.43 |
Total investment return (b) | (9.06)% | 3.39% | (0.54)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.28%†† | 1.12% | 1.02%†† |
Net expenses (c) | 1.16%†† | 1.15% | 1.15%†† |
Portfolio turnover rate (d) | 60%(e) | 39% | 72% |
Net assets at end of period (in 000’s) | $3,317 | $2,990 | $251 |
* | Unaudited. |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rate excludes in-kind transactions. |
64 | MainStay MacKay Tax Free Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $10.60 | $10.44 | $10.34 | $9.80 | $10.02 | $10.18 |
Net investment income (loss) | 0.10(a) | 0.20(a) | 0.29 | 0.32 | 0.34 | 0.33 |
Net realized and unrealized gain (loss) | (1.02) | 0.22 | 0.11 | 0.54 | (0.22) | (0.16) |
Total from investment operations | (0.92) | 0.42 | 0.40 | 0.86 | 0.12 | 0.17 |
Less distributions: | ||||||
From net investment income | (0.13) | (0.26) | (0.30) | (0.32) | (0.34) | (0.33) |
From net realized gain on investments | (0.03) | — | — | — | — | — |
Total distributions | (0.16) | (0.26) | (0.30) | (0.32) | (0.34) | (0.33) |
Net asset value at end of period | $9.52 | $10.60 | $10.44 | $10.34 | $9.80 | $10.02 |
Total investment return (b) | (8.76)% | 4.00% | 3.91% | 8.93% | 1.19% | 1.75% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.92%†† | 1.87% | 2.28% | 3.14% | 3.40% | 3.31% |
Net expenses (c) | 0.50%†† | 0.48% | 0.50% | 0.52% | 0.55% | 0.56% |
Portfolio turnover rate | 60% (d)(e) | 39%(d) | 72%(d) | 38%(d) | 40% | 62% |
Net assets at end of period (in 000’s) | $5,032,102 | $5,709,408 | $4,430,985 | $2,866,903 | $1,320,591 | $1,019,263 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rate excludes in-kind transactions. |
Six months ended April 30, 2022* | Year Ended October 31, | November 1, 2019^ through October 31, | |
Class R6 | 2021 | 2020 | |
Net asset value at beginning of period | $10.61 | $10.44 | $10.34 |
Net investment income (loss) | 0.10(a) | 0.21(a) | 0.27 |
Net realized and unrealized gain (loss) | (1.01) | 0.22 | 0.13 |
Total from investment operations | (0.91) | 0.43 | 0.40 |
Less distributions: | |||
From net investment income | (0.14) | (0.26) | (0.30) |
From net realized gain on investments | (0.03) | — | — |
Total distributions | (0.17) | (0.26) | (0.30) |
Net asset value at end of period | $9.53 | $10.61 | $10.44 |
Total investment return (b) | (8.72)% | 4.15% | 3.95% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 2.06%†† | 1.92% | 2.27% |
Net expenses (c) | 0.43%†† | 0.43% | 0.44% |
Portfolio turnover rate (d) | 60%(e) | 39% | 72% |
Net assets at end of period (in 000’s) | $697,501 | $276,280 | $197,746 |
* | Unaudited. |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rate excludes in-kind transactions. |
66 | MainStay MacKay Tax Free Bond Fund |
Class | Commenced Operations |
Class A | January 3, 1995 |
Investor Class | February 28, 2008 |
Class B | May 1, 1986 |
Class C | September 1, 1998 |
Class C2 | August 31, 2020 |
Class I | December 21, 2009 |
Class R6 | November 1, 2019 |
SIMPLE Class | N/A* |
* | SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
68 | MainStay MacKay Tax Free Bond Fund |
70 | MainStay MacKay Tax Free Bond Fund |
Asset Derivatives | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized appreciation on futures contracts (a) | $55,535,208 | $55,535,208 |
Total Fair Value | $55,535,208 | $55,535,208 |
(a) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Portfolio of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Net Realized Gain (Loss) from: | Interest Rate Contracts Risk | Total |
Futures Contracts | $40,241,355 | $40,241,355 |
Total Net Realized Gain (Loss) | $40,241,355 | $40,241,355 |
Net Change in Unrealized Appreciation (Depreciation) | Interest Rate Contracts Risk | Total |
Futures Contracts | $43,463,580 | $43,463,580 |
Total Net Change in Unrealized Appreciation (Depreciation) | $43,463,580 | $43,463,580 |
Average Notional Amount | Total |
Futures Contracts Short | $(868,096,979) |
72 | MainStay MacKay Tax Free Bond Fund |
Class | Expense | Waived |
Class A | $937,014 | $— |
Investor Class | 3,249 | — |
Class B | 2,519 | — |
Class C | 71,082 | — |
Class C2 | 1,321 | — |
Class I | 2,161,645 | — |
Class R6 | 8,354 | — |
Class C2 | $23,334 | 0.7% |
Class R6 | 24,643 | 0.0‡ |
‡ | Less than one-tenth of a percent. |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $7,913,117,761 | $29,893,498 | $(473,812,532) | $(443,919,034) |
2021 | |
Distributions paid from: | |
Ordinary Income | $1,569,420 |
Exempt Interest Dividends | 194,998,437 |
Total | $196,567,857 |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 106,507,259 | $1,090,752,386 |
Shares issued to shareholders in reinvestment of distributions | 3,095,392 | 32,020,358 |
Shares redeemed | (120,961,666) | (1,232,079,450) |
Shares redeemed in connection with in-kind transactions | (88,883,335) | (930,537,398) |
Net increase (decrease) in shares outstanding before conversion | (100,242,350) | (1,039,844,104) |
Shares converted into Class A (See Note 1) | 144,574 | 1,455,884 |
Shares converted from Class A (See Note 1) | (14,784) | (152,739) |
Net increase (decrease) | (100,112,560) | $(1,038,540,959) |
Year ended October 31, 2021: | ||
Shares sold | 99,478,301 | $1,062,918,922 |
Shares issued to shareholders in reinvestment of distributions | 5,084,065 | 54,338,767 |
Shares redeemed | (65,780,209) | (702,941,180) |
Net increase (decrease) in shares outstanding before conversion | 38,782,157 | 414,316,509 |
Shares converted into Class A (See Note 1) | 681,707 | 7,257,068 |
Shares converted from Class A (See Note 1) | (159,616) | (1,709,072) |
Net increase (decrease) | 39,304,248 | $419,864,505 |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 25,733 | $270,640 |
Shares issued to shareholders in reinvestment of distributions | 11,050 | 114,294 |
Shares redeemed | (98,018) | (1,029,173) |
Net increase (decrease) in shares outstanding before conversion | (61,235) | (644,239) |
Shares converted into Investor Class (See Note 1) | 8,262 | 85,887 |
Shares converted from Investor Class (See Note 1) | (31,432) | (331,867) |
Net increase (decrease) | (84,405) | $(890,219) |
Year ended October 31, 2021: | ||
Shares sold | 161,146 | $1,727,078 |
Shares issued to shareholders in reinvestment of distributions | 17,057 | 183,105 |
Shares redeemed | (115,386) | (1,241,105) |
Net increase (decrease) in shares outstanding before conversion | 62,817 | 669,078 |
Shares converted into Investor Class (See Note 1) | 53,106 | 568,532 |
Shares converted from Investor Class (See Note 1) | (158,778) | (1,706,829) |
Net increase (decrease) | (42,855) | $(469,219) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 508 | $5,290 |
Shares issued to shareholders in reinvestment of distributions | 7,854 | 80,920 |
Shares redeemed | (79,827) | (818,867) |
Net increase (decrease) in shares outstanding before conversion | (71,465) | (732,657) |
Shares converted from Class B (See Note 1) | (9,622) | (100,266) |
Net increase (decrease) | (81,087) | $(832,923) |
Year ended October 31, 2021: | ||
Shares sold | 981 | $10,463 |
Shares issued to shareholders in reinvestment of distributions | 13,643 | 145,760 |
Shares redeemed | (201,005) | (2,144,217) |
Net increase (decrease) in shares outstanding before conversion | (186,381) | (1,987,994) |
Shares converted from Class B (See Note 1) | (42,736) | (456,262) |
Net increase (decrease) | (229,117) | $(2,444,256) |
74 | MainStay MacKay Tax Free Bond Fund |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 759,974 | $7,825,263 |
Shares issued to shareholders in reinvestment of distributions | 184,451 | 1,900,462 |
Shares redeemed | (2,986,955) | (30,501,074) |
Net increase (decrease) in shares outstanding before conversion | (2,042,530) | (20,775,349) |
Shares converted from Class C (See Note 1) | (70,428) | (719,374) |
Net increase (decrease) | (2,112,958) | $(21,494,723) |
Year ended October 31, 2021: | ||
Shares sold | 3,305,683 | $35,365,767 |
Shares issued to shareholders in reinvestment of distributions | 290,475 | 3,105,096 |
Shares redeemed | (5,862,251) | (62,577,165) |
Net increase (decrease) in shares outstanding before conversion | (2,266,093) | (24,106,302) |
Shares converted from Class C (See Note 1) | (479,209) | (5,096,642) |
Net increase (decrease) | (2,745,302) | $(29,202,944) |
Class C2 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 76,274 | $802,842 |
Shares issued to shareholders in reinvestment of distributions | 4,038 | 41,423 |
Shares redeemed | (13,904) | (141,277) |
Net increase (decrease) | 66,408 | $702,988 |
Year ended October 31, 2021: | ||
Shares sold | 258,813 | $2,765,102 |
Shares issued to shareholders in reinvestment of distributions | 2,647 | 28,298 |
Shares redeemed | (3,318) | (35,775) |
Net increase (decrease) | 258,142 | $2,757,625 |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 138,655,467 | $1,423,526,241 |
Shares issued to shareholders in reinvestment of distributions | 6,453,091 | 66,313,520 |
Shares redeemed | (124,960,433) | (1,262,711,497) |
Net increase (decrease) in shares outstanding before conversion | 20,148,125 | 227,128,264 |
Shares converted into Class I (See Note 1) | 38,204 | 399,823 |
Shares converted from Class I (See Note 1) | (30,202,055) | (302,719,722) |
Net increase (decrease) | (10,015,726) | $(75,191,635) |
Year ended October 31, 2021: | ||
Shares sold | 196,260,720 | $2,100,235,655 |
Shares issued to shareholders in reinvestment of distributions | 8,112,416 | 86,740,578 |
Shares redeemed | (89,967,840) | (962,334,386) |
Net increase (decrease) in shares outstanding before conversion | 114,405,296 | 1,224,641,847 |
Shares converted into Class I (See Note 1) | 142,757 | 1,529,574 |
Shares converted from Class I (See Note 1) | (639,170) | (6,825,840) |
Net increase (decrease) | 113,908,883 | $1,219,345,581 |
Class R6 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 71,440,281 | $713,566,238 |
Shares issued to shareholders in reinvestment of distributions | 16,162 | 165,570 |
Shares redeemed | (54,421,358) | (537,310,795) |
Net increase (decrease) in shares outstanding before conversion | 17,035,085 | 176,421,013 |
Shares converted into Class R6 (See Note 1) | 30,201,966 | 302,719,722 |
Shares converted from Class R6 (See Note 1) | (64,639) | (637,348) |
Net increase (decrease) | 47,172,412 | $478,503,387 |
Year ended October 31, 2021: | ||
Shares sold | 9,221,629 | $98,661,761 |
Shares issued to shareholders in reinvestment of distributions | 9,235 | 98,779 |
Shares redeemed | (2,727,931) | (29,182,679) |
Net increase (decrease) in shares outstanding before conversion | 6,502,933 | 69,577,861 |
Shares converted into Class R6 (See Note 1) | 636,397 | 6,804,674 |
Shares converted from Class R6 (See Note 1) | (33,992) | (365,203) |
Net increase (decrease) | 7,105,338 | $76,017,332 |
76 | MainStay MacKay Tax Free Bond Fund |
78 | MainStay MacKay Tax Free Bond Fund |
80 | MainStay MacKay Tax Free Bond Fund |
82 | MainStay MacKay Tax Free Bond Fund |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date1 | Six Months2 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio3 | |
Class A Shares | Maximum 4.5% Initial Sales Charge | With sales charges | 1/3/1995 | -12.77% | -11.72% | 0.29% | 0.68% | 0.96% |
Excluding sales charges | -8.66 | -7.56 | 1.22 | 1.15 | 0.96 | |||
Investor Class Shares | Maximum 4% Initial Sales Charge | With sales charges | 2/28/2008 | -12.42 | -11.51 | -0.01 | 0.41 | 1.33 |
Excluding sales charges | -8.77 | -7.82 | 0.92 | 0.87 | 1.33 | |||
Class B Shares4 | Maximum 5% CDSC | With sales charges | 5/1/1986 | -13.64 | -13.05 | -0.23 | 0.11 | 2.08 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -9.15 | -8.54 | 0.15 | 0.11 | 2.08 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/1/1998 | -10.05 | -9.44 | 0.17 | 0.12 | 2.08 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -9.15 | -8.54 | 0.17 | 0.12 | 2.08 | ||
Class I Shares | No Sales Charge | 1/2/2004 | -8.57 | -7.36 | 1.48 | 1.40 | 0.71 | |
Class R6 Shares | No Sales Charge | 11/1/2019 | -8.42 | -7.29 | N/A | -0.96 | 0.56 |
1. | Effective February 28, 2019 and June 21, 2019, the Fund modified its principal investment strategies. The past performance in the bar chart and table prior to those dates reflects the Fund’s prior principal investment strategies. |
2. | Not annualized. |
3. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
4. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
Bloomberg 5-10 Year Taxable Municipal Bond Index2 | -9.86% | -9.24% | 2.03% | 2.78% |
Morningstar Intermediate Core Bond Category Average3 | -9.42 | -8.75 | 1.05 | 1.78 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The Fund has selected the Bloomberg 5-10 Year Taxable Municipal Bond Index as its primary benchmark. The Bloomberg 5-10 Year Taxable Municipal Bond Index is the 5-10 year component of the Bloomberg Taxable Municipal Bond Index. |
3. | The Morningstar Intermediate Core Bond Category Average is representative of funds that invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay MacKay U.S. Infrastructure Bond Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $913.40 | $4.03 | $1,020.58 | $4.26 | 0.85% |
Investor Class Shares | $1,000.00 | $912.30 | $5.55 | $1,018.99 | $5.86 | 1.17% |
Class B Shares | $1,000.00 | $908.50 | $9.09 | $1,015.27 | $9.59 | 1.92% |
Class C Shares | $1,000.00 | $908.50 | $9.09 | $1,015.27 | $9.59 | 1.92% |
Class I Shares | $1,000.00 | $914.30 | $2.85 | $1,021.82 | $3.01 | 0.60% |
Class R6 Shares | $1,000.00 | $915.80 | $2.52 | $1,022.17 | $2.66 | 0.53% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Portfolio Composition as of April 30, 2022 (Unaudited)
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | New York City Transitional Finance Authority, 2.50%-4.00%, due 2/1/28–5/1/43 |
2. | Los Angeles Community College District, 5.52%-7.53%, due 8/1/29 |
3. | California Health Facilities Financing Authority, 2.584%-3.378%, due 6/1/28–6/1/33 |
4. | Maryland Economic Development Corp., 4.00%-5.00%, due 6/1/26–12/31/41 |
5. | New York State Dormitory Authority, 1.748%-4.946%, due 3/15/28–8/1/48 |
6. | California Statewide Communities Development Authority, 2.14%-2.34%, due 4/1/30–4/1/32 |
7. | City of Chicago IL, 5.00%-7.781%, due 1/1/34–1/1/35 |
8. | State of Illinois, 4.31%-6.875%, due 3/1/23–4/1/35 |
9. | County of Cook IL, 5.79%-6.36%, due 11/15/29–11/15/34 |
10. | State of New York, 1.84%, due 3/15/30 |
8 | MainStay MacKay U.S. Infrastructure Bond Fund |
10 | MainStay MacKay U.S. Infrastructure Bond Fund |
Principal Amount | Value | |
Long-Term Bonds 90.7% | ||
Corporate Bonds 5.6% | ||
Commercial Services 1.6% | ||
Howard University | ||
Series 2020, Insured: AGM | ||
2.516%, due 10/1/25 | $ 1,230,000 | $ 1,160,960 |
Series 2020, Insured: AGM | ||
2.657%, due 10/1/26 | 1,500,000 | 1,395,961 |
Leland Stanford Junior University (The) | ||
1.289%, due 6/1/27 | 2,000,000 | 1,793,758 |
Mather Foundation | ||
Series 2021 | ||
2.675%, due 10/1/31 | 5,000,000 | 4,439,753 |
8,790,432 | ||
Electric 0.2% | ||
Duke Energy Florida Project Finance LLC | ||
Series 2026 | ||
2.538%, due 9/1/29 | 1,100,000 | 1,049,080 |
Healthcare-Services 3.8% | ||
Ascension Health | ||
Series B | ||
2.532%, due 11/15/29 | 3,000,000 | 2,744,505 |
Banner Health | ||
2.48%, due 1/1/32 | 3,000,000 | 2,626,997 |
Beth Israel Lahey Health, Inc. | ||
Series L | ||
2.22%, due 7/1/28 | 2,500,000 | 2,230,171 |
OhioHealth Corp. | ||
2.297%, due 11/15/31 | 4,500,000 | 3,917,405 |
Rogers Memorial Hospital, Inc. | ||
Series 2019 | ||
2.631%, due 7/1/26 | 1,080,000 | 1,032,548 |
Series 2019 | ||
2.988%, due 7/1/29 | 505,000 | 455,591 |
Series 2019 | ||
3.188%, due 7/1/31 | 640,000 | 568,309 |
Series 2019 | ||
3.792%, due 7/1/39 | 2,480,000 | 2,165,566 |
Southeast Alaska Regional Health Consortium | ||
Insured: AGM | ||
2.262%, due 7/1/31 | 3,000,000 | 2,574,035 |
Sun Health Services | ||
Series 19B | ||
2.98%, due 11/15/27 | 960,000 | 884,575 |
Principal Amount | Value | |
Healthcare-Services (continued) | ||
Toledo Hospital (The) | ||
Series B | ||
5.325%, due 11/15/28 | $ 2,000,000 | $ 2,065,468 |
21,265,170 | ||
Total Corporate Bonds (Cost $33,706,393) | 31,104,682 | |
Municipal Bonds 85.1% | ||
Alaska 0.5% | ||
Alaska Municipal Bond Bank Authority Revenue Bonds | ||
Series 2 | ||
2.122%, due 12/1/31 | 3,210,000 | 2,782,073 |
Arizona 1.4% | ||
Arizona Industrial Development Authority, Provident Group, NCCU Properties LLC, Central University Project Revenue Bonds | ||
Series B, Insured: BAM | ||
3.10%, due 6/1/25 | 600,000 | 596,403 |
Arizona Industrial Development Authority, Voyager Foundation Inc., Project Revenue Bonds | ||
Series 2020 | ||
3.65%, due 10/1/29 | 1,115,000 | 1,021,635 |
Series 2020 | ||
3.90%, due 10/1/34 | 1,900,000 | 1,670,581 |
Arizona School Facilities Board, Qualified School Construction Bonds Certificate of Participation | ||
6.00%, due 9/1/27 | 4,000,000 | 4,482,533 |
7,771,152 | ||
California 20.2% | ||
Anaheim Housing and Public Improvements Authority, Water System Revenue Bonds | ||
Series B | ||
2.273%, due 10/1/30 | 1,000,000 | 891,767 |
Antelope Valley Community College District Unlimited General Obligation | ||
2.338%, due 8/1/31 | 2,000,000 | 1,743,712 |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
California (continued) | ||
Bay Area Toll Authority Revenue Bonds | ||
Series F-1 | ||
2.069%, due 4/1/31 | $ 3,065,000 | $ 2,646,610 |
Series F-1 | ||
2.574%, due 4/1/31 | 1,500,000 | 1,379,504 |
California Educational Facilities Authority, Chapman University Revenue Bonds | ||
Series A | ||
3.661%, due 4/1/33 | 3,300,000 | 3,142,520 |
California Health Facilities Financing Authority, Personal Income Tax, No Place Like Home Program Revenue Bonds, Senior Lien | ||
2.584%, due 6/1/29 | 3,000,000 | 2,731,337 |
2.864%, due 6/1/31 | 4,000,000 | 3,590,619 |
2.984%, due 6/1/33 | 2,370,000 | 2,077,802 |
California Health Facilities Financing Authority, No Place Like Home Program Revenue Bonds | ||
3.378%, due 6/1/28 | 2,000,000 | 1,943,507 |
California Infrastructure and Economic Development Bank, J. David Gladstone Institutes (The) Revenue Bonds | ||
3.20%, due 10/1/29 | 1,785,000 | 1,701,027 |
California Municipal Finance Authority, Harvey Mudd College Revenue Bonds | ||
2.262%, due 12/1/30 | 1,520,000 | 1,368,540 |
California Statewide Communities Development Authority, Front Porch Communities & Services Revenue Bonds | ||
Series B | ||
2.14%, due 4/1/30 | 5,395,000 | 4,627,587 |
Series B | ||
2.34%, due 4/1/32 | 1,975,000 | 1,642,318 |
California Statewide Communities Development Authority, Buck Institute for Research on Aging Revenue Bonds | ||
Insured: AGM | ||
2.148%, due 11/15/30 | 3,725,000 | 3,308,438 |
Principal Amount | Value | |
California (continued) | ||
City of Inglewood CA Revenue Bonds | ||
Series A, Insured: AGM | ||
4.35%, due 9/1/47 | $ 1,000,000 | $ 897,230 |
City of Los Angeles CA, Department of Airports Customer Facility Charge, Green Bond Revenue Bonds | ||
Series A, Insured: AGM | ||
3.158%, due 5/15/29 | 1,280,000 | 1,214,312 |
Series A, Insured: AGM | ||
3.258%, due 5/15/30 | 1,250,000 | 1,180,566 |
City of Montebello CA Revenue Bonds | ||
Insured: AGM | ||
3.343%, due 6/1/31 | 1,000,000 | 938,485 |
Insured: AGM | ||
3.393%, due 6/1/32 | 1,000,000 | 927,974 |
City of San Buenaventura CA, Water Revenue Revenue Bonds | ||
2.727%, due 1/1/40 | 2,755,000 | 2,307,361 |
Coast Community College District Unlimited General Obligation | ||
2.588%, due 8/1/29 | 2,565,000 | 2,392,927 |
El Cajon Redevelopment Agency, Cajon Redevelopment Project Tax Allocation | ||
Insured: AGM-CR AMBAC | ||
7.70%, due 10/1/30 | 1,990,000 | 2,359,028 |
Foothill-Eastern Transportation Corridor Agency Revenue Bonds, Senior Lien | ||
Series B, Insured: AGM | ||
2.291%, due 1/15/33 | 1,700,000 | 1,455,828 |
Inglewood Joint Powers Authority, City of Inglewood Revenue Bonds | ||
Insured: BAM | ||
3.469%, due 8/1/29 | 1,000,000 | 968,086 |
La Quinta Redevelopment Agency Successor Agency Tax Allocation | ||
2.354%, due 9/1/30 | 1,475,000 | 1,321,051 |
12 | MainStay MacKay U.S. Infrastructure Bond Fund |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
California (continued) | ||
Los Angeles Community College District, Election 2003 Unlimited General Obligation | ||
Series B | ||
5.52%, due 8/1/29 | $ 2,250,000 | $ 2,437,268 |
Los Angeles Community College District, Election 2008 Unlimited General Obligation | ||
Series B | ||
7.53%, due 8/1/29 | 7,250,000 | 8,769,202 |
Lynwood Housing Authority Revenue Bonds | ||
4.00%, due 9/1/29 | 2,370,000 | 2,237,530 |
Norman Y Mineta San Jose International Airport SJC Revenue Bonds | ||
Series C | ||
2.46%, due 3/1/31 | 1,130,000 | 996,296 |
Port of Oakland Revenue Bonds, Senior Lien | ||
Series R | ||
2.099%, due 5/1/30 | 2,500,000 | 2,174,962 |
Riverside County Infrastructure Financing Authority, County of Riverside Revenue Bonds | ||
Series B | ||
1.976%, due 11/1/28 | 6,555,000 | 5,804,442 |
Riverside County Transportation Commission Revenue Bonds, Senior Lien | ||
Series A | ||
2.627%, due 6/1/31 | 1,200,000 | 1,041,879 |
San Bernardino Community College District, Election 2018 Unlimited General Obligation | ||
Series A-1 | ||
2.64%, due 8/1/29 | 3,500,000 | 3,242,825 |
San Diego County Regional Transportation Commission Revenue Bonds | ||
Series A | ||
2.499%, due 4/1/30 | 2,000,000 | 1,855,016 |
Principal Amount | Value | |
California (continued) | ||
San Francisco City & County Airport Commission, International Airport Revenue Bonds | ||
Series B | ||
5.00%, due 5/1/46 (a) | $ 5,000,000 | $ 5,191,993 |
San Joaquin Hills Transportation Corridor Agency Revenue Bonds, Senior Lien | ||
Series B, Insured: AGM | ||
2.571%, due 1/15/30 | 3,500,000 | 3,166,409 |
Santa Clarita Community College District Unlimited General Obligation | ||
2.632%, due 8/1/28 | 500,000 | 478,958 |
2.682%, due 8/1/29 | 600,000 | 569,935 |
2.762%, due 8/1/30 | 600,000 | 568,462 |
2.812%, due 8/1/31 | 650,000 | 612,443 |
Santa Monica Community College District, Election 2016 (b) Unlimited General Obligation | ||
Series B-1 | ||
3.415%, due 8/1/27 | 1,000,000 | 996,113 |
Series B-1 | ||
3.527%, due 8/1/28 | 1,030,000 | 1,026,664 |
Series B-1 | ||
3.697%, due 8/1/29 | 1,960,000 | 1,959,580 |
Solano County Community College District Unlimited General Obligation | ||
2.717%, due 8/1/29 | 450,000 | 427,896 |
2.817%, due 8/1/30 | 575,000 | 544,646 |
2.867%, due 8/1/31 | 675,000 | 634,824 |
2.917%, due 8/1/32 | 650,000 | 606,942 |
2.967%, due 8/1/33 | 630,000 | 584,307 |
State of California, Various Purpose Unlimited General Obligation | ||
1.70%, due 2/1/28 | 2,000,000 | 1,813,910 |
1.75%, due 11/1/30 | 4,615,000 | 3,971,635 |
Transbay Joint Powers Authority, Green Bond Tax Allocation, Senior Lien | ||
Series 2020A | ||
3.58%, due 10/1/32 | 2,730,000 | 2,730,107 |
University of California Revenue Bonds | ||
Series BD | ||
3.349%, due 7/1/29 | 2,825,000 | 2,723,172 |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
California (continued) | ||
University of California Revenue Bonds (continued) | ||
Series AJ | ||
4.601%, due 5/15/31 | $ 3,000,000 | $ 3,114,874 |
West Contra Costa Unified School District Unlimited General Obligation | ||
Series B, Insured: AGM | ||
2.121%, due 8/1/31 | 1,000,000 | 894,788 |
Yosemite Community College District Unlimited General Obligation | ||
2.457%, due 8/1/30 | 2,000,000 | 1,856,975 |
111,792,189 | ||
Colorado 1.6% | ||
Colorado Bridge Enterprise, Central 70 Project Revenue Bonds | ||
Series A | ||
2.543%, due 12/31/32 | 5,670,000 | 5,236,508 |
Colorado Housing and Finance Authority Revenue Bonds | ||
Series G-1, Insured: GNMA | ||
3.65%, due 11/1/46 | 810,000 | 808,645 |
Denver City & County School District No. 1 Unlimited General Obligation | ||
Series C, Insured: State Aid Withholding | ||
5.664%, due 12/1/33 | 1,000,000 | 1,127,709 |
Metro Wastewater Reclamation District Revenue Bonds | ||
Series B | ||
5.775%, due 4/1/29 | 1,700,000 | 1,867,107 |
9,039,969 | ||
Connecticut 1.5% | ||
City of Bridgeport CT Unlimited General Obligation | ||
Series D, Insured: BAM | ||
2.913%, due 9/15/28 | 1,650,000 | 1,579,153 |
City of Waterbury CT Unlimited General Obligation | ||
Series C | ||
2.492%, due 9/1/31 | 2,855,000 | 2,570,470 |
Principal Amount | Value | |
Connecticut (continued) | ||
State of Connecticut Bradley International Airport CFC, Ground Transportation Center Project Revenue Bonds | ||
Series B | ||
3.024%, due 7/1/25 | $ 2,045,000 | $ 1,989,632 |
3.431%, due 7/1/28 | 1,195,000 | 1,129,678 |
Town of Hamden CT Unlimited General Obligation | ||
Series B, Insured: BAM | ||
2.80%, due 8/1/31 | 1,250,000 | 1,161,599 |
8,430,532 | ||
Delaware 0.1% | ||
Delaware Municipal Electric Corp. (The), Middletown & Seaford Project Revenue Bonds | ||
Series B, Insured: BAM | ||
4.35%, due 10/1/34 | 500,000 | 483,428 |
District of Columbia 0.7% | ||
District of Columbia Revenue Bonds | ||
Series B | ||
2.632%, due 3/1/30 | 1,000,000 | 937,067 |
Metropolitan Washington Airports Authority Dulles Toll Road Revenue Bonds, Senior Lien | ||
Series B, Insured: AGM | ||
2.824%, due 10/1/32 | 1,550,000 | 1,362,076 |
Washington Convention & Sports Authority Revenue Bonds, Senior Lien | ||
Series C | ||
1.93%, due 10/1/28 | 1,600,000 | 1,457,259 |
3,756,402 | ||
Florida 3.4% | ||
City of Deltona FL, Utility System Revenue Bonds | ||
Insured: BAM | ||
2.539%, due 10/1/41 | 1,250,000 | 973,218 |
City of Miami FL, Street & Sidewalk Improvement Program Revenue Bonds | ||
Series B, Insured: AGM | ||
4.592%, due 1/1/33 (c) | 1,115,000 | 1,158,429 |
14 | MainStay MacKay U.S. Infrastructure Bond Fund |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
Florida (continued) | ||
City of Miramar FL Revenue Bonds | ||
2.183%, due 10/1/32 | $ 1,000,000 | $ 882,747 |
County of Miami-Dade FL, Seaport Department Revenue Bonds | ||
Series A-3, Insured: AGM | ||
2.162%, due 10/1/32 | 1,500,000 | 1,227,622 |
County of Miami-Dade FL, Aviation Revenue Bonds | ||
Series E | ||
2.449%, due 10/1/29 | 1,000,000 | 890,203 |
Series B | ||
3.275%, due 10/1/29 | 2,715,000 | 2,558,510 |
County of Miami-Dade FL, Water & Sewer System Revenue Bonds | ||
Series C | ||
2.601%, due 10/1/29 | 2,145,000 | 1,996,383 |
JEA Electric System Revenue Bonds | ||
Series D | ||
5.582%, due 10/1/27 | 3,500,000 | 3,700,996 |
Miami-Dade County Health Facilities Authority, Nicklaus Children's Hospital Revenue Bonds | ||
Series B | ||
2.014%, due 8/1/27 | 2,085,000 | 1,902,269 |
Series A | ||
4.00%, due 8/1/51 | 1,500,000 | 1,463,786 |
St. Johns County Industrial Development Authority, Flagler Health Revenue Bonds | ||
Series B, Insured: AGM | ||
2.538%, due 10/1/30 | 2,500,000 | 2,188,960 |
18,943,123 | ||
Georgia 0.6% | ||
Municipal Electric Authority of Georgia, Project One Subordinated Bonds Revenue Bonds | ||
Series B | ||
2.117%, due 1/1/28 | 1,000,000 | 911,091 |
Series B | ||
2.897%, due 1/1/35 | 3,080,000 | 2,658,357 |
3,569,448 |
Principal Amount | Value | |
Guam 1.9% | ||
Antonio B Won Pat International Airport Authority Revenue Bonds | ||
Series A | ||
2.499%, due 10/1/25 | $ 740,000 | $ 696,899 |
Series A | ||
2.699%, due 10/1/26 | 610,000 | 566,854 |
Series A | ||
2.899%, due 10/1/27 | 825,000 | 756,629 |
Series A | ||
3.099%, due 10/1/28 | 765,000 | 694,087 |
Guam Government Waterworks Authority Revenue Bonds | ||
Series B | ||
2.75%, due 7/1/30 | 6,500,000 | 5,775,192 |
Series B | ||
3.25%, due 7/1/34 | 2,000,000 | 1,767,652 |
Port Authority of Guam Revenue Bonds | ||
Series C | ||
4.532%, due 7/1/27 | 500,000 | 500,812 |
10,758,125 | ||
Hawaii 0.9% | ||
City & County of Honolulu HI, Build America Bonds Unlimited General Obligation | ||
Series A | ||
5.518%, due 12/1/28 | 2,400,000 | 2,659,255 |
State of Hawaii Unlimited General Obligation | ||
Series GE | ||
2.042%, due 10/1/31 | 1,320,000 | 1,140,915 |
State of Hawaii Airports System, Customer Facility Charge Revenue Bonds | ||
Series A | ||
3.14%, due 7/1/47 | 1,500,000 | 1,170,619 |
4,970,789 | ||
Idaho 0.4% | ||
Idaho Housing & Finance Association, Gem Prep: Meridian Project Revenue Bonds | ||
Series A, Insured: School Bond Guaranty | ||
4.00%, due 5/1/42 | 2,220,000 | 2,096,515 |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
Illinois 8.3% | ||
City of Chicago Heights IL Unlimited General Obligation | ||
Series A, Insured: BAM | ||
7.25%, due 12/1/34 | $ 3,815,000 | $ 4,799,838 |
City of Chicago IL Unlimited General Obligation | ||
Series A | ||
5.00%, due 1/1/34 | 6,340,000 | 6,760,216 |
City of Chicago IL, Taxable Project Unlimited General Obligation | ||
Series C-1, Insured: BAM | ||
7.781%, due 1/1/35 | 2,195,000 | 2,764,801 |
City of Galesburg IL, Knox College Project Revenue Bonds | ||
Series B | ||
1.922%, due 10/1/24 | 1,000,000 | 954,686 |
County of Cook IL Unlimited General Obligation | ||
Series C | ||
5.79%, due 11/15/29 | 5,000,000 | 5,293,827 |
County of Cook IL, Build America Bonds Unlimited General Obligation | ||
Insured: AGM-CR | ||
6.229%, due 11/15/34 | 1,725,000 | 2,050,402 |
Series B | ||
6.36%, due 11/15/33 | 1,500,000 | 1,750,100 |
Lake County Community Unit School District No. 187 North Chicago Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.25%, due 1/1/29 | 750,000 | 765,505 |
Series A, Insured: BAM | ||
4.25%, due 1/1/30 | 750,000 | 763,095 |
Sales Tax Securitization Corp. Revenue Bonds, Second Lien | ||
Series B, Insured: BAM | ||
2.857%, due 1/1/31 | 3,000,000 | 2,775,572 |
Sales Tax Securitization Corp. Revenue Bonds | ||
3.372%, due 1/1/31 | 2,300,000 | 2,198,000 |
Sangamon County Water Reclamation District, Alternative Revenue Source Unlimited General Obligation | ||
Series B | ||
2.907%, due 1/1/34 | 1,885,000 | 1,626,364 |
Principal Amount | Value | |
Illinois (continued) | ||
State of Illinois Unlimited General Obligation | ||
Series B | ||
4.31%, due 4/1/23 | $ 500,000 | $ 505,775 |
5.10%, due 6/1/33 | 4,605,000 | 4,715,130 |
State of Illinois, Build America Bonds Unlimited General Obligation | ||
5.95%, due 3/1/23 | 450,000 | 461,060 |
Series 3, Insured: AGM-CR | ||
6.725%, due 4/1/35 | 1,510,000 | 1,714,586 |
Insured: AGM-CR | ||
6.875%, due 7/1/25 | 2,000,000 | 2,101,845 |
State of Illinois Sales Tax Revenue Bonds, Junior Lien | ||
Series B | ||
2.159%, due 6/15/29 | 2,250,000 | 1,971,079 |
Series B | ||
2.359%, due 6/15/31 | 2,500,000 | 2,124,775 |
46,096,656 | ||
Indiana 0.2% | ||
Indiana University Revenue Bonds | ||
Series B | ||
2.19%, due 6/1/30 | 1,000,000 | 893,125 |
Kentucky 1.7% | ||
Kenton County Airport Board, Customer Facility Charge Revenue Bonds | ||
3.826%, due 1/1/29 | 925,000 | 927,733 |
4.489%, due 1/1/39 | 2,500,000 | 2,550,704 |
4.689%, due 1/1/49 | 1,400,000 | 1,424,387 |
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds | ||
Series B, Insured: AGM | ||
4.435%, due 12/1/38 | 2,000,000 | 1,979,480 |
Kentucky State Property & Building Commission Revenue Bonds | ||
Series C | ||
5.373%, due 11/1/25 | 2,375,000 | 2,462,456 |
9,344,760 |
16 | MainStay MacKay U.S. Infrastructure Bond Fund |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
Louisiana 1.0% | ||
City of Bossier City LA, Utilities Revenue Bonds | ||
Insured: BAM | ||
2.00%, due 10/1/30 | $ 1,650,000 | $ 1,487,034 |
State of Louisiana Gasoline & Fuels Tax Revenue Bonds | ||
Series A | ||
2.952%, due 5/1/41 | 5,000,000 | 4,210,535 |
5,697,569 | ||
Maryland 2.4% | ||
City of Baltimore MD, Water Project Revenue Bonds | ||
Series B | ||
1.925%, due 7/1/31 | 1,045,000 | 887,136 |
County of Baltimore MD, Build America Bonds Unlimited General Obligation | ||
4.90%, due 11/1/32 | 1,000,000 | 1,099,153 |
Maryland Community Development Administration, Department of Housing & Community Development Revenue Bonds | ||
Series D | ||
2.644%, due 3/1/50 | 1,235,000 | 1,200,514 |
Maryland Economic Development Corp., Seagirt Marine Terminal Project Revenue Bonds | ||
Series B | ||
4.00%, due 6/1/26 | 3,650,000 | 3,609,830 |
Series B | ||
4.125%, due 6/1/29 | 580,000 | 563,779 |
Series B | ||
4.125%, due 6/1/30 | 500,000 | 481,343 |
Maryland Economic Development Corp., Purple Line Light Project, Green Bond (a) Revenue Bonds | ||
Series B | ||
5.00%, due 6/30/41 | 2,500,000 | 2,610,422 |
Series B | ||
5.00%, due 12/31/41 | 2,500,000 | 2,610,422 |
13,062,599 |
Principal Amount | Value | |
Massachusetts 1.5% | ||
Massachusetts Development Finance Agency, Lesley University Revenue Bonds | ||
Series B | ||
3.165%, due 7/1/32 | $ 1,705,000 | $ 1,550,973 |
Massachusetts Development Finance Agency, Wellforce Obligated Group Revenue Bonds | ||
Series B, Insured: AGM | ||
4.496%, due 7/1/33 | 2,545,000 | 2,562,821 |
Massachusetts Educational Financing Authority, Educational Loan Revenue Bonds, Senior Lien | ||
Series A | ||
2.455%, due 7/1/30 | 2,500,000 | 2,210,235 |
Series A | ||
2.555%, due 7/1/31 | 2,050,000 | 1,792,554 |
8,116,583 | ||
Michigan 1.5% | ||
City of Grand Rapids MI, Sanitary Sewer System Revenue Bonds | ||
2.012%, due 1/1/32 | 2,000,000 | 1,758,716 |
Michigan Finance Authority, Local Government Loan Program Revenue Bonds | ||
Series C-1, Insured: State Aid Direct Deposit | ||
3.585%, due 11/1/35 | 1,000,000 | 931,917 |
Series E, Insured: State Aid Direct Deposit | ||
8.369%, due 11/1/35 | 715,000 | 925,193 |
Michigan Strategic Fund, Flint Water Advocacy Fund Project Revenue Bonds | ||
Series A | ||
2.128%, due 9/1/31 | 5,000,000 | 4,392,323 |
8,008,149 | ||
Missouri 0.2% | ||
Health & Educational Facilities Authority of the State of Missouri, A.T. STILL University of Health Sciences Revenue Bonds | ||
Series B | ||
2.744%, due 10/1/26 | 1,185,000 | 1,148,486 |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
New Jersey 3.7% | ||
Casino Reinvestment Development Authority, Inc. Revenue Bonds | ||
Series B, Insured: NATL-RE | ||
5.46%, due 6/1/25 | $ 2,105,000 | $ 2,119,725 |
City of Vineland NJ Unlimited General Obligation | ||
3.193%, due 4/15/29 | 1,175,000 | 1,132,963 |
New Jersey Economic Development Authority, State Pension Funding Bonds Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
7.425%, due 2/15/29 | 5,534,000 | 6,317,997 |
New Jersey Educational Facilities Authority, The College Of New Jersey Revenue Bonds | ||
Series G, Insured: BAM | ||
3.459%, due 7/1/32 | 1,330,000 | 1,296,437 |
New Jersey Transportation Trust Fund Authority, Transportation System Revenue Bonds | ||
Series B | ||
2.631%, due 6/15/24 | 4,150,000 | 4,065,386 |
South Jersey Transportation Authority Revenue Bonds | ||
Series B, Insured: BAM | ||
2.381%, due 11/1/27 | 1,750,000 | 1,645,399 |
Series B | ||
3.12%, due 11/1/26 | 500,000 | 474,056 |
Series B | ||
3.36%, due 11/1/28 | 1,000,000 | 932,389 |
State of New Jersey Unlimited General Obligation | ||
Series A | ||
2.85%, due 6/1/32 | 2,000,000 | 1,810,717 |
Series A, Insured: BAM | ||
2.90%, due 6/1/33 | 1,000,000 | 894,658 |
20,689,727 | ||
New York 12.2% | ||
Brookhaven Local Development Corp., Long Island Community Hospital Project Revenue Bonds | ||
Series B | ||
4.50%, due 10/1/25 | 2,565,000 | 2,560,333 |
Principal Amount | Value | |
New York (continued) | ||
Brookhaven Local Development Corp., Long Island Community Hospital Health Care Services Foundation Revenue Bonds | ||
Series B, Insured: AGM-CR | ||
6.00%, due 10/1/30 | $ 1,855,000 | $ 2,078,998 |
City of New York NY Unlimited General Obligation | ||
Series D | ||
1.823%, due 8/1/30 | 2,150,000 | 1,810,243 |
Series A-3 | ||
2.52%, due 8/1/27 | 2,000,000 | 1,902,498 |
Metropolitan Transportation Authority, Dedicated Tax Fund Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/48 | 5,000,000 | 5,487,843 |
New York City Industrial Development Agency, Yankee Stadium Project Revenue Bonds | ||
Series B, Insured: AGM | ||
2.681%, due 3/1/33 | 1,500,000 | 1,297,377 |
New York City Transitional Finance Authority, Future Tax Secured Revenue Bonds | ||
Series D-3 | ||
2.50%, due 11/1/33 | 1,150,000 | 969,719 |
Series F-2 | ||
3.35%, due 2/1/28 | 7,000,000 | 6,827,281 |
Series C | ||
4.00%, due 5/1/43 | 3,500,000 | 3,477,623 |
New York Liberty Development Corp. Revenue Bonds | ||
Series 1WTC | ||
4.00%, due 2/15/43 | 1,500,000 | 1,508,365 |
New York Power Authority, Green Transmission Project Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 11/15/47 | 3,000,000 | 2,994,852 |
New York Power Authority Revenue Bonds | ||
Series A, Insured: AGM | ||
5.749%, due 11/15/33 | 1,000,000 | 1,157,188 |
New York State Dormitory Authority, State Personal Income Tax Revenue Bonds | ||
1.748%, due 3/15/28 | 6,655,000 | 5,932,103 |
18 | MainStay MacKay U.S. Infrastructure Bond Fund |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
New York (continued) | ||
New York State Dormitory Authority, State Personal Income Tax Revenue Bonds (continued) | ||
Series B | ||
3.059%, due 3/15/28 | $ 1,000,000 | $ 954,587 |
Series B | ||
3.159%, due 3/15/29 | 2,000,000 | 1,878,715 |
New York State Dormitory Authority, Montefiore Obligated Group Revenue Bonds | ||
Series B, Insured: AGM | ||
4.946%, due 8/1/48 | 1,000,000 | 1,007,866 |
New York State Energy Research & Development Authority, Residential Solar And Energy Efficiency Financing, Green Bond Revenue Bonds | ||
Series A | ||
3.62%, due 4/1/25 | 750,000 | 750,742 |
Series A | ||
3.77%, due 4/1/26 | 1,045,000 | 1,045,806 |
Series A | ||
3.927%, due 4/1/27 | 995,000 | 1,002,125 |
New York State Urban Development Corp., Personal Income Tax Revenue Bonds | ||
Series C | ||
4.00%, due 3/15/45 | 2,000,000 | 1,984,265 |
New York Transportation Development Corp., Terminal 4 JFK International Airport Project Revenue Bonds | ||
5.00%, due 12/1/29 (a) | 5,000,000 | 5,319,850 |
Port Authority of New York & New Jersey, Consolidated 159th Revenue Bonds | ||
Series B | ||
6.04%, due 12/1/29 | 4,345,000 | 4,902,854 |
State of New York Unlimited General Obligation | ||
Series B | ||
1.84%, due 3/15/30 | 10,000,000 | 8,759,790 |
Triborough Bridge & Tunnel Authority Revenue Bonds | ||
Series A-2 | ||
5.45%, due 11/15/32 | 1,985,000 | 2,185,847 |
67,796,870 |
Principal Amount | Value | |
Ohio 4.3% | ||
American Municipal Power, Inc., Hydroelectric Projects Revenue Bonds | ||
Series D | ||
3.014%, due 2/15/31 | $ 2,000,000 | $ 1,866,483 |
Series C | ||
7.334%, due 2/15/28 | 4,000,000 | 4,540,732 |
City of Cleveland OH, Airport System Revenue Bonds | ||
Series A, Insured: BAM | ||
2.882%, due 1/1/31 | 1,400,000 | 1,253,709 |
Dayton Metro Library Unlimited General Obligation | ||
2.676%, due 12/1/29 | 2,035,000 | 1,902,912 |
JobsOhio Beverage System Revenue Bonds | ||
Series B | ||
3.985%, due 1/1/29 | 2,050,000 | 2,061,943 |
Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds | ||
2.419%, due 11/15/30 | 1,245,000 | 1,130,509 |
2.519%, due 11/15/31 | 1,655,000 | 1,491,020 |
5.438%, due 11/15/32 | 3,650,000 | 4,057,013 |
Summit County Development Finance Authority, Franciscan University of Steubenville Project Revenue Bonds | ||
Series B | ||
5.125%, due 11/1/48 | 1,000,000 | 1,031,495 |
Series A | ||
6.00%, due 11/1/48 (c) | 1,750,000 | 1,901,619 |
University of Cincinnati Revenue Bonds | ||
Series B | ||
2.533%, due 6/1/29 | 2,500,000 | 2,303,269 |
23,540,704 | ||
Oklahoma 0.7% | ||
Oklahoma Municipal Power Authority, Power Suply System Revenue Bonds | ||
Series B, Insured: AGM | ||
2.151%, due 1/1/31 | 1,500,000 | 1,311,547 |
Series B, Insured: AGM | ||
2.251%, due 1/1/32 | 1,450,000 | 1,252,220 |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
Oklahoma (continued) | ||
Oklahoma Municipal Power Authority, Power Suply System Revenue Bonds (continued) | ||
Series B, Insured: AGM | ||
2.351%, due 1/1/33 | $ 1,475,000 | $ 1,259,794 |
3,823,561 | ||
Oregon 2.2% | ||
Oregon State Facilities Authority, Lewis & Clark College Project Revenue Bonds | ||
Series A | ||
2.486%, due 10/1/35 | 4,000,000 | 3,232,033 |
Oregon State Lottery Revenue Bonds | ||
Series B | ||
3.487%, due 4/1/28 | 2,570,000 | 2,540,701 |
Port of Portland Airport OR, Portland International Airport Customer Facility Charge Revenue Bonds | ||
4.067%, due 7/1/39 | 1,000,000 | 949,845 |
State of Oregon, Department of Transportation Revenue Bonds, Senior Lien | ||
Series B | ||
1.66%, due 11/15/31 | 1,000,000 | 816,338 |
State of Oregon Unlimited General Obligation | ||
5.892%, due 6/1/27 | 4,500,000 | 4,878,519 |
12,417,436 | ||
Pennsylvania 3.2% | ||
Authority Improvement Municipalities, Carlow University Revenue Bonds | ||
Series B | ||
5.00%, due 11/1/53 | 1,000,000 | 893,336 |
County of Beaver PA Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.979%, due 11/15/29 | 1,805,000 | 1,838,394 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Pennsylvania Economic Development Financing Authority, Build America Bonds Revenue Bonds | ||
Series B | ||
6.532%, due 6/15/39 | $ 1,495,000 | $ 1,789,238 |
Pennsylvania Higher Educational Facilities Authority, Widener University Revenue Bonds | ||
Series B | ||
2.789%, due 7/15/30 | 2,080,000 | 1,863,056 |
Philadelphia Authority for Industrial Development Revenue Bonds | ||
2.216%, due 4/15/28 | 2,250,000 | 2,047,872 |
Reading Area Water Authority, Green Bond Revenue Bonds | ||
Insured: BAM | ||
2.209%, due 12/1/28 | 2,345,000 | 2,166,505 |
Insured: BAM | ||
2.309%, due 12/1/29 | 2,390,000 | 2,196,739 |
Insured: BAM | ||
2.439%, due 12/1/31 | 3,295,000 | 2,986,113 |
State Public School Building Authority, School District of Philadelphia (The) Revenue Bonds | ||
Series A, Insured: State Aid Withholding | ||
3.046%, due 4/1/28 | 1,920,000 | 1,821,156 |
17,602,409 | ||
Rhode Island 0.4% | ||
Rhode Island Commerce Corp., Historic Structures Tax Credit Financing Program Revenue Bonds | ||
Series A | ||
3.297%, due 5/1/28 | 1,000,000 | 977,262 |
Rhode Island Turnpike & Bridge Authority Revenue Bonds | ||
Series 1 | ||
2.761%, due 12/1/29 | 1,570,000 | 1,468,915 |
2,446,177 |
20 | MainStay MacKay U.S. Infrastructure Bond Fund |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
Tennessee 0.7% | ||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Lipscomb University Project Revenue Bonds | ||
Series B | ||
4.409%, due 10/1/34 | $ 1,280,000 | $ 1,235,002 |
Tennessee Energy Acquisition Corp. Revenue Bonds | ||
Series A | ||
4.00%, due 5/1/48 (d) | 2,500,000 | 2,520,451 |
3,755,453 | ||
Texas 2.6% | ||
City of Austin TX, Rental Car Special Facility Revenue Bonds | ||
Insured: AGM | ||
1.71%, due 11/15/29 | 1,645,000 | 1,417,147 |
City of Garland TX, Electric Utility System Revenue Bonds | ||
Series B, Insured: AGM | ||
2.172%, due 3/1/32 | 1,000,000 | 868,093 |
City of Lubbock TX Revenue Bonds | ||
Insured: AGM-CR | ||
4.00%, due 4/15/51 | 1,920,000 | 1,931,301 |
Gainesville Hospital District Limited General Obligation | ||
Series A | ||
4.753%, due 8/15/23 | 1,520,000 | 1,552,225 |
Pflugerville Independent School District Unlimited General Obligation | ||
Insured: PSF-GTD | ||
4.25%, due 2/15/30 | 1,500,000 | 1,590,947 |
Port of Corpus Christi Authority of Nueces County Revenue Bonds, Senior Lien | ||
Series B | ||
4.875%, due 12/1/38 | 2,000,000 | 2,142,870 |
San Antonio Education Facilities Corp., University of the Incarnate Word Project Revenue Bonds | ||
Series B | ||
2.50%, due 4/1/29 | 1,000,000 | 884,321 |
Principal Amount | Value | |
Texas (continued) | ||
San Antonio Education Facilities Corp., University of the Incarnate Word Project Revenue Bonds (continued) | ||
Series B | ||
2.65%, due 4/1/30 | $ 1,100,000 | $ 963,209 |
Series B | ||
2.73%, due 4/1/31 | 750,000 | 647,558 |
Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center Obligated Group Revenue Bonds | ||
Insured: AGM | ||
2.411%, due 9/1/31 | 2,350,000 | 2,091,865 |
Wylie Independent School District Unlimited General Obligation | ||
Series B, Insured: PSF-GTD | ||
(zero coupon), due 8/15/43 | 1,220,000 | 522,557 |
14,612,093 | ||
U.S. Virgin Islands 1.1% | ||
Matching Fund Special Purpose Securitization Corp. Revenue Bonds | ||
Series B | ||
6.00%, due 10/1/25 | 5,875,000 | 5,848,674 |
Utah 0.6% | ||
County of Salt Lake UT, Convention Hotel Revenue Bonds | ||
5.25%, due 10/1/34 (c) | 3,610,000 | 3,493,710 |
Virginia 1.5% | ||
Farmville Industrial Development Authority, Longwood University Student Housing Project Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/34 | 2,000,000 | 1,958,407 |
Fredericksburg Economic Development Authority, Fredericksburg Stadium Project Revenue Bonds | ||
Series A | ||
4.00%, due 9/1/29 (c) | 2,150,000 | 2,176,468 |
Principal Amount | Value | |
Municipal Bonds (continued) | ||
Virginia (continued) | ||
Virginia Resources Authority, Infrastructure Revenue Revenue Bonds | ||
Series C, Insured: Moral Obligation | ||
2.55%, due 11/1/28 | $ 2,050,000 | $ 1,954,398 |
Virginia Small Business Financing Authority, 95 Express Lanes LLC Revenue Bonds, Senior Lien | ||
4.00%, due 7/1/40 (a) | 2,050,000 | 1,972,138 |
8,061,411 | ||
Washington 0.9% | ||
Klickitat County Public Utility District No. 1 Revenue Bonds | ||
Series B, Insured: AGM | ||
2.803%, due 12/1/29 | 700,000 | 659,067 |
Northwest Open Access Network Revenue Bonds | ||
1.95%, due 12/1/28 | 1,865,000 | 1,691,810 |
2.04%, due 12/1/29 | 1,000,000 | 898,288 |
Spokane Public Facilities District Revenue Bonds | ||
Series B | ||
1.996%, due 12/1/30 | 2,000,000 | 1,775,473 |
5,024,638 | ||
West Virginia 0.5% | ||
County of Ohio WV, Special District Excise Tax Revenue Bonds | ||
Series A | ||
4.00%, due 3/1/40 | 3,500,000 | 3,012,369 |
Wisconsin 0.5% | ||
State of Wisconsin Revenue Bonds | ||
Series A | ||
2.399%, due 5/1/30 | 2,000,000 | 1,798,523 |
State of Wisconsin Unlimited General Obligation | ||
Series 2 | ||
2.444%, due 5/1/30 | 1,250,000 | 1,152,321 |
2,950,844 | ||
Total Municipal Bonds (Cost $507,666,348) | 471,837,748 |
Principal Amount | Value | |
U.S. Government & Federal Agencies 0.0% ‡ | ||
Federal Home Loan Mortgage Corporation (Mortgage Pass-Through Securities) 0.0% ‡ | ||
FHLMC Gold Pools, 30 Year | ||
4.00%, due 10/1/48 | $ 130,323 | $ 131,947 |
6.50%, due 4/1/37 | 23,689 | 26,134 |
158,081 | ||
Government National Mortgage Association (Mortgage Pass-Through Security) 0.0% ‡ | ||
GNMA I, 30 Year | ||
6.50%, due 4/15/31 | 95,392 | 102,927 |
Total U.S. Government & Federal Agencies (Cost $251,685) | 261,008 | |
Total Long-Term Bonds (Cost $541,624,426) | 503,203,438 | |
Shares | ||
Short-Term Investments 8.4% | ||
Affiliated Investment Company 6.6% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (e) | 36,237,013 | 36,237,013 |
Principal Amount | ||
Short-Term Municipal Notes 1.8% | ||
County of Sacramento CA Insured: AGM | ||
1.938%, due7/10/30 (f) | 2,500,000 | 2,494,741 |
Virginia Small Business Financing Authority | ||
2.00%, due12/31/23 (f)(g) | 7,500,000 | 7,501,798 |
Total Short-Term Municipal Notes (Cost $9,995,143) | 9,996,539 | |
Total Short-Term Investments (Cost $46,232,156) | 46,233,552 | |
Total Investments (Cost $587,856,582) | 99.1% | 549,436,990 |
Other Assets, Less Liabilities | 0.9 | 5,209,801 |
Net Assets | 100.0% | $ 554,646,791 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Interest on these securities was subject to alternative minimum tax. |
(b) | Delayed delivery security. |
22 | MainStay MacKay U.S. Infrastructure Bond Fund |
(c) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(d) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of April 30, 2022. |
(e) | Current yield as of April 30, 2022. |
(f) | Variable-rate demand notes (VRDNs)—Provide the right to sell the security at face value on either that day or within the rate-reset period. VRDNs will normally trade as if the maturity is the earlier put date, even though stated maturity is longer. The interest rate is reset on the put date at a stipulated daily, weekly, monthly, quarterly, or other specified time interval to reflect current market conditions. These securities do not indicate a reference rate and spread in their description. The maturity date shown is the final maturity. |
(g) | Step coupon—Rate shown was the rate in effect as of April 30, 2022. |
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 44,540 | $ 218,606 | $ (226,909) | $ — | $ — | $ 36,237 | $ 5 | $ — | 36,237 |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Short Contracts | |||||
U.S. Treasury 10 Year Notes | (370) | June 2022 | $ (46,717,431) | $ (44,087,813) | $ 2,629,618 |
1. | As of April 30, 2022, cash in the amount of $629,000 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of April 30, 2022. |
Abbreviation(s): |
AGM—Assured Guaranty Municipal Corp. |
AMBAC—Ambac Assurance Corp. |
BAM—Build America Mutual Assurance Co. |
CR—Custodial Receipts |
FHLMC—Federal Home Loan Mortgage Corp. |
GNMA—Government National Mortgage Association |
NATL-RE—National Public Finance Guarantee Corp. |
PSF-GTD—Permanent School Fund Guaranteed |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Long-Term Bonds | ||||
Corporate Bonds | $ — | $ 31,104,682 | $ — | $ 31,104,682 |
Municipal Bonds | — | 471,837,748 | — | 471,837,748 |
U.S. Government & Federal Agencies | — | 261,008 | — | 261,008 |
Total Long-Term Bonds | — | 503,203,438 | — | 503,203,438 |
Short-Term Investments | ||||
Affiliated Investment Company | 36,237,013 | — | — | 36,237,013 |
Short-Term Municipal Notes | — | 9,996,539 | — | 9,996,539 |
Total Short-Term Investments | 36,237,013 | 9,996,539 | — | 46,233,552 |
Total Investments in Securities | 36,237,013 | 513,199,977 | — | 549,436,990 |
Other Financial Instruments | ||||
Futures Contracts (b) | 2,629,618 | — | — | 2,629,618 |
Total Investments in Securities and Other Financial Instruments | $ 38,866,631 | $ 513,199,977 | $ — | $ 552,066,608 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
24 | MainStay MacKay U.S. Infrastructure Bond Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $551,619,569) | $513,199,977 |
Investment in affiliated investment companies, at value (identified cost $36,237,013) | 36,237,013 |
Cash collateral on deposit at broker for futures contracts | 629,000 |
Receivables: | |
Investment securities sold | 12,277,874 |
Dividends and interest | 5,289,949 |
Fund shares sold | 2,218,717 |
Variation margin on futures contracts | 75,155 |
Other assets | 64,909 |
Total assets | 569,992,594 |
Liabilities | |
Due to custodian | 3,460,586 |
Payables: | |
Investment securities purchased | 9,321,170 |
Fund shares redeemed | 1,829,263 |
Manager (See Note 3) | 184,873 |
Transfer agent (See Note 3) | 114,262 |
Professional fees | 37,852 |
NYLIFE Distributors (See Note 3) | 29,463 |
Custodian | 19,859 |
Shareholder communication | 15,277 |
Trustees | 272 |
Accrued expenses | 1,380 |
Distributions payable | 331,546 |
Total liabilities | 15,345,803 |
Net assets | $554,646,791 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $700,007 |
Additional paid-in-capital | 602,524,155 |
603,224,162 | |
Total distributable earnings (loss) | (48,577,371) |
Net assets | $554,646,791 |
Class A | |
Net assets applicable to outstanding shares | $93,043,036 |
Shares of beneficial interest outstanding | 11,850,686 |
Net asset value per share outstanding | $7.85 |
Maximum sales charge (4.50% of offering price) | 0.37 |
Maximum offering price per share outstanding | $8.22 |
Investor Class | |
Net assets applicable to outstanding shares | $15,771,384 |
Shares of beneficial interest outstanding | 1,999,721 |
Net asset value per share outstanding | $7.89 |
Maximum sales charge (4.00% of offering price) | 0.33 |
Maximum offering price per share outstanding | $8.22 |
Class B | |
Net assets applicable to outstanding shares | $885,037 |
Shares of beneficial interest outstanding | 112,731 |
Net asset value and offering price per share outstanding | $7.85 |
Class C | |
Net assets applicable to outstanding shares | $5,982,303 |
Shares of beneficial interest outstanding | 762,172 |
Net asset value and offering price per share outstanding | $7.85 |
Class I | |
Net assets applicable to outstanding shares | $309,808,729 |
Shares of beneficial interest outstanding | 39,019,980 |
Net asset value and offering price per share outstanding | $7.94 |
Class R6 | |
Net assets applicable to outstanding shares | $129,156,302 |
Shares of beneficial interest outstanding | 16,255,436 |
Net asset value and offering price per share outstanding | $7.95 |
Investment Income (Loss) | |
Income | |
Interest | $7,521,429 |
Dividends-affiliated | 5,231 |
Total income | 7,526,660 |
Expenses | |
Manager (See Note 3) | 1,488,243 |
Transfer agent (See Note 3) | 366,937 |
Distribution/Service—Class A (See Note 3) | 129,807 |
Distribution/Service—Investor Class (See Note 3) | 21,338 |
Distribution/Service—Class B (See Note 3) | 5,719 |
Distribution/Service—Class C (See Note 3) | 32,321 |
Registration | 61,663 |
Professional fees | 41,934 |
Custodian | 38,355 |
Shareholder communication | 26,602 |
Trustees | 6,021 |
Miscellaneous | 13,207 |
Total expenses before waiver/reimbursement | 2,232,147 |
Expense waiver/reimbursement from Manager (See Note 3) | (251,769) |
Net expenses | 1,980,378 |
Net investment income (loss) | 5,546,282 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | (13,819,656) |
Futures transactions | 1,847,125 |
Net realized gain (loss) | (11,972,531) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (49,325,338) |
Futures contracts | 2,056,136 |
Net change in unrealized appreciation (depreciation) | (47,269,202) |
Net realized and unrealized gain (loss) | (59,241,733) |
Net increase (decrease) in net assets resulting from operations | $(53,695,451) |
26 | MainStay MacKay U.S. Infrastructure Bond Fund |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $5,546,282 | $9,528,665 |
Net realized gain (loss) | (11,972,531) | 4,665,614 |
Net change in unrealized appreciation (depreciation) | (47,269,202) | (930,526) |
Net increase (decrease) in net assets resulting from operations | (53,695,451) | 13,263,753 |
Distributions to shareholders: | ||
Class A | (1,787,374) | (2,956,871) |
Investor Class | (263,056) | (450,420) |
Class B | (14,143) | (28,456) |
Class C | (75,756) | (145,405) |
Class I | (5,850,415) | (9,030,341) |
Class R6 | (2,632,330) | (3,572,136) |
Total distributions to shareholders | (10,623,074) | (16,183,629) |
Capital share transactions: | ||
Net proceeds from sales of shares | 160,455,758 | 319,836,169 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 7,364,924 | 11,662,330 |
Cost of shares redeemed | (164,819,938) | (221,362,280) |
Increase (decrease) in net assets derived from capital share transactions | 3,000,744 | 110,136,219 |
Net increase (decrease) in net assets | (61,317,781) | 107,216,343 |
Net Assets | ||
Beginning of period | 615,964,572 | 508,748,229 |
End of period | $554,646,791 | $615,964,572 |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $8.74 | $8.77 | $8.64 | $7.93 | $8.33 | $8.56 |
Net investment income (loss) (a) | 0.07 | 0.13 | 0.16 | 0.21 | 0.19 | 0.17 |
Net realized and unrealized gain (loss) | (0.82) | 0.07 | 0.14 | 0.71 | (0.40) | (0.22) |
Total from investment operations | (0.75) | 0.20 | 0.30 | 0.92 | (0.21) | (0.05) |
Less distributions: | ||||||
From net investment income | (0.07) | (0.13) | (0.17) | (0.21) | (0.19) | (0.18) |
From net realized gain on investments | (0.07) | (0.10) | — | — | — | — |
Return of capital | — | — | — | (0.00)‡ | — | — |
Total distributions | (0.14) | (0.23) | (0.17) | (0.21) | (0.19) | (0.18) |
Net asset value at end of period | $7.85 | $8.74 | $8.77 | $8.64 | $7.93 | $8.33 |
Total investment return (b) | (8.66)% | 2.36% | 3.45% | 11.76% | (2.54)% | (0.60)% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.68%†† | 1.49% | 1.84% | 2.52% | 2.31% | 2.07% |
Net expenses (c) | 0.85%†† | 0.85% | 0.85% | 0.89% | 1.00% | 1.00% |
Expenses (before waiver/reimbursement) (c) | 0.95%†† | 0.96% | 0.98% | 1.02% | 1.04% | 1.00% |
Portfolio turnover rate | 45%(d) | 51%(d) | 89%(d) | 124%(d) | 58%(e) | 20%(e) |
Net assets at end of period (in 000’s) | $93,043 | $111,626 | $103,475 | $84,513 | $68,269 | $82,828 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rates not including mortgage dollar rolls were 52% and 6% for the years ended October 31, 2018 and 2017, respectively. |
28 | MainStay MacKay U.S. Infrastructure Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $8.78 | $8.81 | $8.68 | $7.97 | $8.36 | $8.59 |
Net investment income (loss) (a) | 0.06 | 0.10 | 0.14 | 0.19 | 0.16 | 0.15 |
Net realized and unrealized gain (loss) | (0.82) | 0.07 | 0.13 | 0.71 | (0.39) | (0.23) |
Total from investment operations | (0.76) | 0.17 | 0.27 | 0.90 | (0.23) | (0.08) |
Less distributions: | ||||||
From net investment income | (0.06) | (0.10) | (0.14) | (0.19) | (0.16) | (0.15) |
From net realized gain on investments | (0.07) | (0.10) | — | — | — | — |
Return of capital | — | — | — | (0.00)‡ | — | — |
Total distributions | (0.13) | (0.20) | (0.14) | (0.19) | (0.16) | (0.15) |
Net asset value at end of period | $7.89 | $8.78 | $8.81 | $8.68 | $7.97 | $8.36 |
Total investment return (b) | (8.77)% | 2.02% | 3.14% | 11.36% | (2.72)% | (0.91)% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.35%†† | 1.16% | 1.57% | 2.21% | 1.98% | 1.77% |
Net expenses (c) | 1.17%†† | 1.17% | 1.15% | 1.21% | 1.33% | 1.30% |
Expenses (before waiver/reimbursement) (c) | 1.32%†† | 1.33% | 1.28% | 1.35% | 1.44% | 1.30% |
Portfolio turnover rate | 45%(d) | 51%(d) | 89%(d) | 124%(d) | 58%(e) | 20%(e) |
Net assets at end of period (in 000's) | $15,771 | $17,994 | $19,459 | $20,520 | $21,012 | $24,187 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rates not including mortgage dollar rolls were 52% and 6% for the years ended October 31, 2018 and 2017, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $8.74 | $8.77 | $8.64 | $7.94 | $8.33 | $8.56 |
Net investment income (loss) (a) | 0.02 | 0.04 | 0.07 | 0.12 | 0.10 | 0.08 |
Net realized and unrealized gain (loss) | (0.81) | 0.07 | 0.14 | 0.70 | (0.39) | (0.22) |
Total from investment operations | (0.79) | 0.11 | 0.21 | 0.82 | (0.29) | (0.14) |
Less distributions: | ||||||
From net investment income | (0.03) | (0.04) | (0.08) | (0.12) | (0.10) | (0.09) |
From net realized gain on investments | (0.07) | (0.10) | — | — | — | — |
Return of capital | — | — | — | (0.00)‡ | — | — |
Total distributions | (0.10) | (0.14) | (0.08) | (0.12) | (0.10) | (0.09) |
Net asset value at end of period | $7.85 | $8.74 | $8.77 | $8.64 | $7.94 | $8.33 |
Total investment return (b) | (9.15)% | 1.28% | 2.39% | 10.46% | (3.46)% | (1.66)% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.59%†† | 0.42% | 0.85% | 1.46% | 1.23% | 1.01% |
Net expenses (c) | 1.92%†† | 1.92% | 1.90% | 1.96% | 2.08% | 2.05% |
Expenses (before waiver/reimbursement) (c) | 2.07%†† | 2.08% | 2.03% | 2.10% | 2.19% | 2.05% |
Portfolio turnover rate | 45%(d) | 51%(d) | 89%(d) | 124%(d) | 58%(e) | 20%(e) |
Net assets at end of period (in 000’s) | $885 | $1,343 | $1,902 | $2,621 | $3,224 | $4,730 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rates not including mortgage dollar rolls were 52% and 6% for the years ended October 31, 2018 and 2017, respectively. |
30 | MainStay MacKay U.S. Infrastructure Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $8.74 | $8.77 | $8.64 | $7.93 | $8.32 | $8.55 |
Net investment income (loss) (a) | 0.03 | 0.04 | 0.08 | 0.12 | 0.10 | 0.08 |
Net realized and unrealized gain (loss) | (0.82) | 0.07 | 0.13 | 0.71 | (0.39) | (0.22) |
Total from investment operations | (0.79) | 0.11 | 0.21 | 0.83 | (0.29) | (0.14) |
Less distributions: | ||||||
From net investment income | (0.03) | (0.04) | (0.08) | (0.12) | (0.10) | (0.09) |
From net realized gain on investments | (0.07) | (0.10) | — | — | — | — |
Return of capital | — | — | — | (0.00)‡ | — | — |
Total distributions | (0.10) | (0.14) | (0.08) | (0.12) | (0.10) | (0.09) |
Net asset value at end of period | $7.85 | $8.74 | $8.77 | $8.64 | $7.93 | $8.32 |
Total investment return (b) | (9.15)% | 1.27% | 2.38% | 10.59% | (3.46)% | (1.66)% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.64%†† | 0.42% | 0.88% | 1.47% | 1.23% | 1.00% |
Net expenses (c) | 1.92%†† | 1.92% | 1.90% | 1.96% | 2.08% | 2.05% |
Expenses (before waiver/reimbursement) (c) | 2.07%†† | 2.08% | 2.02% | 2.10% | 2.19% | 2.05% |
Portfolio turnover rate | 45%(d) | 51%(d) | 89%(d) | 124%(d) | 58%(e) | 20%(e) |
Net assets at end of period (in 000’s) | $5,982 | $6,481 | $8,708 | $14,152 | $7,612 | $9,472 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rates not including mortgage dollar rolls were 52% and 6% for the years ended October 31, 2018 and 2017, respectively. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $8.84 | $8.87 | $8.73 | $8.02 | $8.42 | $8.64 |
Net investment income (loss) (a) | 0.08 | 0.15 | 0.17 | 0.24 | 0.21 | 0.20 |
Net realized and unrealized gain (loss) | (0.83) | 0.07 | 0.16 | 0.71 | (0.40) | (0.22) |
Total from investment operations | (0.75) | 0.22 | 0.33 | 0.95 | (0.19) | (0.02) |
Less distributions: | ||||||
From net investment income | (0.08) | (0.15) | (0.19) | (0.24) | (0.21) | (0.20) |
From net realized gain on investments | (0.07) | (0.10) | — | — | — | — |
Return of capital | — | — | — | (0.00)‡ | — | — |
Total distributions | (0.15) | (0.25) | (0.19) | (0.24) | (0.21) | (0.20) |
Net asset value at end of period | $7.94 | $8.84 | $8.87 | $8.73 | $8.02 | $8.42 |
Total investment return (b) | (8.57)% | 2.58% | 3.78% | 11.95% | (2.26)% | (0.23)% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.90%†† | 1.71% | 1.97% | 2.64% | 2.56% | 2.33% |
Net expenses (c) | 0.60%†† | 0.60% | 0.60% | 0.60% | 0.75% | 0.75% |
Expenses (before waiver/reimbursement) (c) | 0.70%†† | 0.71% | 0.72% | 0.74% | 0.79% | 0.75% |
Portfolio turnover rate | 45%(d) | 51%(d) | 89%(d) | 124%(d) | 58%(e) | 20%(e) |
Net assets at end of period (in 000’s) | $309,809 | $329,021 | $292,000 | $177,305 | $5,003 | $6,926 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
(e) | The portfolio turnover rates not including mortgage dollar rolls were 52% and 6% for the years ended October 31, 2018 and 2017, respectively. |
32 | MainStay MacKay U.S. Infrastructure Bond Fund |
Six months ended April 30, 2022* | Year Ended October 31, | November 1, 2019^ through October 31, | |
Class R6 | 2021 | 2020 | |
Net asset value at beginning of period | $8.84 | $8.87 | $8.72 |
Net investment income (loss) (a) | 0.08 | 0.16 | 0.19 |
Net realized and unrealized gain (loss) | (0.82) | 0.07 | 0.15 |
Total from investment operations | (0.74) | 0.23 | 0.34 |
Less distributions: | |||
From net investment income | (0.08) | (0.16) | (0.19) |
From net realized gain on investments | (0.07) | (0.10) | — |
Total distributions | (0.15) | (0.26) | (0.19) |
Net asset value at end of period | $7.95 | $8.84 | $8.87 |
Total investment return (b) | (8.42)% | 2.65% | 3.85% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.97%†† | 1.77% | 2.16% |
Net expenses (c) | 0.53%†† | 0.53% | 0.53% |
Expenses (before waiver/reimbursement) (c) | 0.56%†† | 0.56% | 0.58% |
Portfolio turnover rate (d) | 45% | 51% | 89% |
Net assets at end of period (in 000’s) | $129,156 | $149,500 | $83,204 |
* | Unaudited. |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
Class | Commenced Operations |
Class A | January 3, 1995 |
Investor Class | February 28, 2008 |
Class B | May 1, 1986 |
Class C | September 1, 1998 |
Class I | January 2, 2004 |
Class R6 | November 1, 2019 |
SIMPLE Class | N/A* |
* | SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
34 | MainStay MacKay U.S. Infrastructure Bond Fund |
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
36 | MainStay MacKay U.S. Infrastructure Bond Fund |
38 | MainStay MacKay U.S. Infrastructure Bond Fund |
Asset Derivatives | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized appreciation on futures contracts (a) | $2,629,618 | $2,629,618 |
Total Fair Value | $2,629,618 | $2,629,618 |
(a) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Portfolio of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Net Realized Gain (Loss) from: | Interest Rate Contracts Risk | Total |
Futures Contracts | $1,847,125 | $1,847,125 |
Total Net Realized Gain (Loss) | $1,847,125 | $1,847,125 |
Net Change in Unrealized Appreciation (Depreciation) | Interest Rate Contracts Risk | Total |
Futures Contracts | $2,056,136 | $2,056,136 |
Total Net Change in Unrealized Appreciation (Depreciation) | $2,056,136 | $2,056,136 |
Average Notional Amount | Total |
Futures Contracts Short | $(45,937,031) |
Class | Expense | Waived |
Class A | $71,923 | $— |
Investor Class | 43,831 | (4,663) |
Class B | 2,973 | (308) |
Class C | 16,354 | (1,558) |
Class I | 229,007 | — |
Class R6 | 2,849 | — |
Class R6 | $24,386 | 0.0%‡ |
‡ | Less than one-tenth of a percent. |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $588,027,016 | $423,560 | $(39,013,586) | $(38,590,026) |
2021 | |
Distributions paid from: | |
Ordinary Income | $16,183,629 |
40 | MainStay MacKay U.S. Infrastructure Bond Fund |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 555,137 | $4,687,370 |
Shares issued to shareholders in reinvestment of distributions | 193,935 | 1,654,652 |
Shares redeemed | (1,735,286) | (14,624,858) |
Net increase (decrease) in shares outstanding before conversion | (986,214) | (8,282,836) |
Shares converted into Class A (See Note 1) | 64,249 | 548,934 |
Net increase (decrease) | (921,965) | $(7,733,902) |
Year ended October 31, 2021: | ||
Shares sold | 3,243,597 | $28,520,389 |
Shares issued to shareholders in reinvestment of distributions | 312,146 | 2,745,125 |
Shares redeemed | (2,814,703) | (24,731,219) |
Net increase (decrease) in shares outstanding before conversion | 741,040 | 6,534,295 |
Shares converted into Class A (See Note 1) | 233,023 | 2,040,783 |
Net increase (decrease) | 974,063 | $8,575,078 |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 32,024 | $272,992 |
Shares issued to shareholders in reinvestment of distributions | 30,011 | 257,328 |
Shares redeemed | (103,886) | (884,189) |
Net increase (decrease) in shares outstanding before conversion | (41,851) | (353,869) |
Shares converted into Investor Class (See Note 1) | 11,570 | 98,743 |
Shares converted from Investor Class (See Note 1) | (19,807) | (167,305) |
Net increase (decrease) | (50,088) | $(422,431) |
Year ended October 31, 2021: | ||
Shares sold | 46,213 | $407,507 |
Shares issued to shareholders in reinvestment of distributions | 49,608 | 438,291 |
Shares redeemed | (192,589) | (1,701,261) |
Net increase (decrease) in shares outstanding before conversion | (96,768) | (855,463) |
Shares converted into Investor Class (See Note 1) | 41,622 | 365,724 |
Shares converted from Investor Class (See Note 1) | (104,097) | (921,180) |
Net increase (decrease) | (159,243) | $(1,410,919) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 159 | $1,384 |
Shares issued to shareholders in reinvestment of distributions | 1,467 | 12,601 |
Shares redeemed | (21,617) | (181,856) |
Net increase (decrease) in shares outstanding before conversion | (19,991) | (167,871) |
Shares converted from Class B (See Note 1) | (20,949) | (177,291) |
Net increase (decrease) | (40,940) | $(345,162) |
Year ended October 31, 2021: | ||
Shares sold | 3,916 | $34,199 |
Shares issued to shareholders in reinvestment of distributions | 2,946 | 25,919 |
Shares redeemed | (25,637) | (225,034) |
Net increase (decrease) in shares outstanding before conversion | (18,775) | (164,916) |
Shares converted from Class B (See Note 1) | (44,355) | (389,025) |
Net increase (decrease) | (63,130) | $(553,941) |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 579,536 | $4,894,382 |
Shares issued to shareholders in reinvestment of distributions | 7,728 | 66,032 |
Shares redeemed | (557,565) | (4,600,942) |
Net increase (decrease) in shares outstanding before conversion | 29,699 | 359,472 |
Shares converted from Class C (See Note 1) | (9,215) | (79,562) |
Net increase (decrease) | 20,484 | $279,910 |
Year ended October 31, 2021: | ||
Shares sold | 199,251 | $1,753,337 |
Shares issued to shareholders in reinvestment of distributions | 14,417 | 126,836 |
Shares redeemed | (378,685) | (3,316,090) |
Net increase (decrease) in shares outstanding before conversion | (165,017) | (1,435,917) |
Shares converted from Class C (See Note 1) | (86,340) | (748,419) |
Net increase (decrease) | (251,357) | $(2,184,336) |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 15,318,933 | $131,092,039 |
Shares issued to shareholders in reinvestment of distributions | 598,276 | 5,145,503 |
Shares redeemed | (14,129,919) | (119,692,553) |
Net increase (decrease) | 1,787,290 | $16,544,989 |
Year ended October 31, 2021: | ||
Shares sold | 23,803,402 | $211,714,321 |
Shares issued to shareholders in reinvestment of distributions | 906,427 | 8,061,200 |
Shares redeemed | (20,410,262) | (181,052,686) |
Net increase (decrease) | 4,299,567 | $38,722,835 |
Class R6 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 2,320,162 | $19,507,591 |
Shares issued to shareholders in reinvestment of distributions | 26,252 | 228,808 |
Shares redeemed | (2,970,953) | (24,835,540) |
Net increase (decrease) in shares outstanding before conversion | (624,539) | (5,099,141) |
Shares converted from Class R6 (See Note 1) | (25,524) | (223,519) |
Net increase (decrease) | (650,063) | $(5,322,660) |
Year ended October 31, 2021: | ||
Shares sold | 8,698,022 | $77,406,416 |
Shares issued to shareholders in reinvestment of distributions | 29,780 | 264,959 |
Shares redeemed | (1,160,797) | (10,335,990) |
Net increase (decrease) in shares outstanding before conversion | 7,567,005 | 67,335,385 |
Shares converted from Class R6 (See Note 1) | (39,110) | (347,883) |
Net increase (decrease) | 7,527,895 | $66,987,502 |
42 | MainStay MacKay U.S. Infrastructure Bond Fund |
44 | MainStay MacKay U.S. Infrastructure Bond Fund |
46 | MainStay MacKay U.S. Infrastructure Bond Fund |
48 | MainStay MacKay U.S. Infrastructure Bond Fund |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support at any time. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors.
Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares3 | No Sales Charge | 1/3/1995 | 0.01% | 0.01% | 0.75% | 0.39% | 0.54% | |
Investor Class Shares3 | No Sales Charge | 2/28/2008 | 0.00 | 0.01 | 0.61 | 0.32 | 0.96 | |
Class B Shares3, 4 | No Sales Charge | 5/1/1986 | 0.00 | 0.01 | 0.61 | 0.32 | 0.96 | |
Class C Shares3 | No Sales Charge | 9/1/1998 | 0.00 | 0.01 | 0.61 | 0.32 | 0.96 | |
SIMPLE Class Shares3 | No Sales Charge | 8/31/2020 | 0.01 | 0.01 | N/A | 0.01 | 0.96 |
1. | Not annualized. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | As of April 30, 2022, MainStay Money Market Fund had an effective 7-day yield of 0.07% for Class A, 0.01% for Investor Class, 0.01% for Class B, 0.01% for Class C and 0.01% for SIMPLE Class shares. The 7-day current yield was 0.07% for Class A, 0.01% for Investor Class, 0.01% for Class B, 0.01% for Class C and 0.01% for SIMPLE Class shares. These yields reflect certain expense limitations. Had these expense limitations not been in effect, the effective 7-day yield would have been 0.07%, -0.09%,-0.10%, -0.21% and -0.76%, for Class A, Investor Class, Class B, Class C and SIMPLE Class shares, respectively, and the 7-day current yield would have been 0.70%, -0.09%,-0.11%, -0.21% and -0.77%, for Class A, Investor Class, Class B, Class C and SIMPLE Class shares, respectively. The current yield reflects the Fund’s earnings better than the Fund’s total return. |
4. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
Average Lipper Money Market Fund2 | 0.01% | 0.02% | 0.84% | 0.45% |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The Average Lipper Money Market Fund is an equally weighted performance average adjusted for capital gains distributions and income dividends of all of the money market funds in the Lipper Universe. Lipper Inc., a wholly-owned subsidiary of Thomson Reuters, is an independent monitor of mutual fund performance. Results do not reflect any deduction of sales charges. Lipper averages are not class specific. Lipper returns are unaudited. Results are based on average total returns of similar funds with all dividend and capital gain distributions reinvested. |
6 | MainStay Money Market Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,000.10 | $0.99 | $1,023.80 | $1.00 | 0.20% |
Investor Class Shares | $1,000.00 | $1,000.00 | $0.99 | $1,023.80 | $1.00 | 0.20% |
Class B Shares | $1,000.00 | $1,000.00 | $0.99 | $1,023.80 | $1.00 | 0.20% |
Class C Shares | $1,000.00 | $1,000.00 | $1.04 | $1,023.75 | $1.05 | 0.21% |
SIMPLE Class Shares | $1,000.00 | $1,000.10 | $1.04 | $1,023.75 | $1.05 | 0.21% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Portfolio Composition as of April 30, 2022 (Unaudited)
8 | MainStay Money Market Fund |
Principal Amount | Value | |
Short-Term Investments 99.8% | ||
Certificates Of Deposit 21.5% | ||
Bank of Montreal | ||
0.43% (SOFR + 0.15%), due 9/27/22 (a) | $ 15,000,000 | $ 15,000,000 |
0.64%, due 6/15/22 | 5,000,000 | 5,000,059 |
Bank of Nova Scotia | ||
0.46% (SOFR + 0.18%), due 5/11/22 (a) | 20,000,000 | 20,000,000 |
Canadian Imperial Bank of Commerce | ||
0.44% (SOFR + 0.16%), due 7/15/22 (a) | 19,000,000 | 19,000,000 |
Natixis SA | ||
0.46% (SOFR + 0.18%), due 6/17/22 (a) | 19,000,000 | 19,000,000 |
Sumitomo Mitsui Trust Bank Ltd. | ||
0.68%, due 5/24/22 | 20,000,000 | 20,000,890 |
Total Certificates Of Deposit (Cost $98,000,949) | 98,000,949 | |
Commercial Paper 48.4% | ||
BASF SE | ||
1.755%, due 9/26/22 | 20,000,000 | 19,856,933 |
BP Capital Markets plc | ||
0.851%, due 6/9/22 | 18,800,000 | 18,782,688 |
Canadian National Railway Co. | ||
0.431%, due 5/4/22 | 20,000,000 | 19,999,282 |
Caterpillar Financial Services Corp. | ||
0.55%, due 5/25/22 | 20,000,000 | 19,992,667 |
Illinois Tool Works, Inc. | ||
0.721%, due 7/7/22 | 19,450,000 | 19,423,937 |
John Deere Capital Corp. | ||
0.601%, due 6/8/22 | 20,000,000 | 19,987,333 |
National Bank of Canada | ||
0.321%, due 7/18/22 | 5,000,000 | 4,996,533 |
National Rural Utilities Cooperative Finance Corp. | ||
0.58%, due 5/18/22 | 20,000,000 | 19,994,522 |
PSP Capital, Inc. | ||
1.083%, due 7/27/22 (b) | 20,000,000 | 19,947,800 |
Royal Bank of Canada | ||
0.42% (SOFR + 14.00%), due 9/16/22 (a) | 18,000,000 | 18,000,000 |
Stanley Black & Decker, Inc. | ||
0.902%, due 6/13/22 | 20,000,000 | 19,978,500 |
Wisconsin Public Service Corp. | ||
0.50%, due 5/3/22 | 20,000,000 | 19,999,445 |
Total Commercial Paper (Cost $220,959,640) | 220,959,640 |
Principal Amount | Value | |
Repurchase Agreements 6.7% | ||
RBC Capital Markets LLC 0.28%, dated 4/29/22 due 5/2/22 Proceeds at Maturity $5,486,128 (Collateralized by United States Treasury securities with rates between 0.13% and 2.25% and maturity dates between 1/31/23 and 2/15/52, with a Principal Amount of $6,109,800 and a Market Value of $5,595,893) | 5,486,000 | $ 5,486,000 |
TD Securities (U.S.A) LLC 0.27%, dated 4/29/22 due 5/2/22 Proceeds at Maturity $25,000,563 (Collateralized by United States Treasury securities with rates between 0.88% and 2.38% and maturity dates between 4/30/22 and 5/15/29, with a Principal Amount of $26,398,300 and a Market Value of $25,500,022) | 25,000,000 | 25,000,000 |
Total Repurchase Agreements (Cost $30,486,000) | 30,486,000 | |
U.S. Treasury Debt 23.2% | ||
U.S. Treasury Bills (c) | ||
0.474%, due 6/14/22 | $ 39,000,000 | 38,977,422 |
0.55%, due 6/21/22 | 27,000,000 | 26,978,968 |
0.598%, due 6/23/22 | 3,000,000 | 2,997,363 |
0.689%, due 7/7/22 | 17,000,000 | 16,978,239 |
0.821%, due 7/21/22 | 20,000,000 | 19,963,132 |
U.S. Treasury Notes | ||
0.125%, due 5/31/22 | 100,000 | 99,975 |
Total U.S. Treasury Debt (Cost $105,995,099) | 105,995,099 | |
Total Short-Term Investments (Cost $455,441,688) | 99.8% | 455,441,688 |
Other Assets, Less Liabilities | 0.2 | 786,486 |
Net Assets | 100.0% | $ 456,228,174 |
† | Percentages indicated are based on Fund net assets. |
(a) | Floating rate—Rate shown was the rate in effect as of April 30, 2022. |
(b) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(c) | Interest rate shown represents yield to maturity. |
10 | MainStay Money Market Fund |
Abbreviation(s): |
SOFR—Secured Overnight Financing Rate |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Short-Term Investments | ||||
Certificates Of Deposit | $ — | $ 98,000,949 | $ — | $ 98,000,949 |
Commercial Paper | — | 220,959,640 | — | 220,959,640 |
Repurchase Agreements | — | 30,486,000 | — | 30,486,000 |
U.S. Treasury Debt | — | 105,995,099 | — | 105,995,099 |
Total Investments in Securities | $ — | $ 455,441,688 | $ — | $ 455,441,688 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Assets | |
Investment in securities, at value (amortized cost $424,955,688) | $424,955,688 |
Repurchase agreements, at value (amortized cost $30,486,000) | 30,486,000 |
Cash | 1,725 |
Receivables: | |
Fund shares sold | 2,277,961 |
Interest | 58,283 |
Other assets | 104,694 |
Total assets | 457,884,351 |
Liabilities | |
Payables: | |
Fund shares redeemed | 1,267,784 |
Transfer agent (See Note 3) | 157,969 |
Manager (See Note 3) | 148,474 |
Shareholder communication | 31,705 |
Professional fees | 26,245 |
Custodian | 16,638 |
Trustees | 1,084 |
Accrued expenses | 5,989 |
Dividends payable | 289 |
Total liabilities | 1,656,177 |
Net assets | $456,228,174 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $4,562,366 |
Additional paid-in-capital | 451,634,987 |
456,197,353 | |
Total distributable earnings (loss) | 30,821 |
Net assets | $456,228,174 |
Class A | |
Net assets applicable to outstanding shares | $391,879,571 |
Shares of beneficial interest outstanding | 391,875,778 |
Net asset value and offering price per share outstanding | $1.00 |
Investor Class | |
Net assets applicable to outstanding shares | $20,555,538 |
Shares of beneficial interest outstanding | 20,564,976 |
Net asset value and offering price per share outstanding | $1.00 |
Class B | |
Net assets applicable to outstanding shares | $24,359,733 |
Shares of beneficial interest outstanding | 24,362,803 |
Net asset value and offering price per share outstanding | $1.00 |
Class C | |
Net assets applicable to outstanding shares | $19,367,106 |
Shares of beneficial interest outstanding | 19,366,795 |
Net asset value and offering price per share outstanding | $1.00 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $66,226 |
Shares of beneficial interest outstanding | 66,226 |
Net asset value and offering price per share outstanding | $1.00 |
12 | MainStay Money Market Fund |
Investment Income (Loss) | |
Income | |
Interest | $451,418 |
Expenses | |
Manager (See Note 3) | 839,554 |
Transfer agent (See Note 3) | 289,800 |
Registration | 56,006 |
Professional fees | 36,788 |
Custodian | 10,276 |
Shareholder communication | 9,974 |
Trustees | 4,507 |
Miscellaneous | 8,296 |
Total expenses before waiver/reimbursement | 1,255,201 |
Expense waiver/reimbursement from Manager (See Note 3) | (829,370) |
Net expenses | 425,831 |
Net investment income (loss) | 25,587 |
Realized Gain (Loss) | |
Net realized gain (loss) on investments | (447) |
Net increase (decrease) in net assets resulting from operations | $25,140 |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $25,587 | $45,564 |
Net realized gain (loss) | (447) | 2,652 |
Net increase (decrease) in net assets resulting from operations | 25,140 | 48,216 |
Distributions to shareholders: | ||
Class A | (22,415) | (38,110) |
Investor Class | (1,053) | (2,527) |
Class B | (1,239) | (2,768) |
Class C | (877) | (2,115) |
SIMPLE Class | (4) | (4) |
Total distributions to shareholders | (25,588) | (45,524) |
Capital share transactions: | ||
Net proceeds from sales of shares | 239,741,740 | 368,286,798 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 23,691 | 36,445 |
Cost of shares redeemed | (204,050,887) | (449,690,249) |
Increase (decrease) in net assets derived from capital share transactions | 35,714,544 | (81,367,006) |
Net increase (decrease) in net assets | 35,714,096 | (81,364,314) |
Net Assets | ||
Beginning of period | 420,514,078 | 501,878,392 |
End of period | $456,228,174 | $420,514,078 |
14 | MainStay Money Market Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Net investment income (loss) (a) | 0.00‡ | 0.00‡ | 0.00‡ | 0.02 | 0.01 | 0.00‡ |
Net realized and unrealized gain (loss) | 0.00‡ | 0.00‡ | 0.00‡ | 0.00‡ | (0.00)‡ | 0.00‡ |
Total from investment operations | 0.00‡ | 0.00‡ | 0.00‡ | 0.02 | 0.01 | 0.00‡ |
Less distributions: | ||||||
From net investment income | (0.00)‡ | (0.00)‡ | (0.00)‡ | (0.02) | (0.01) | (0.00)‡ |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total investment return (b) | 0.01% | 0.01% | 0.45% | 1.84% | 1.21% | 0.35% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.01%†† | 0.01% | 0.37% | 1.82% | 1.20% | 0.32% |
Net expenses | 0.20%†† | 0.12% | 0.39% | 0.56% | 0.57% | 0.59% |
Expenses (before waiver/reimbursement) | 0.54%†† | 0.54% | 0.55% | 0.56% | 0.57% | 0.60% |
Net assets at end of period (in 000’s) | $391,880 | $354,743 | $415,041 | $290,421 | $235,855 | $227,572 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of distributions. For periods of less than one year, total return is not annualized. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Net investment income (loss) (a) | 0.00‡ | 0.00‡ | 0.00‡ | 0.02 | 0.01 | 0.00‡ |
Net realized and unrealized gain (loss) | 0.00‡ | 0.00‡ | 0.00‡ | 0.00‡ | (0.00)‡ | 0.00‡ |
Total from investment operations | 0.00‡ | 0.00‡ | 0.00‡ | 0.02 | 0.01 | 0.00‡ |
Less distributions: | ||||||
From net investment income | (0.00)‡ | (0.00)‡ | (0.00)‡ | (0.02) | (0.01) | (0.00)‡ |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total investment return (b) | 0.00% | 0.01% | 0.35% | 1.59% | 0.98% | 0.20% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.01%†† | 0.01% | 0.33% | 1.58% | 0.97% | 0.18% |
Net expenses | 0.20%†† | 0.12% | 0.51% | 0.80% | 0.80% | 0.73% |
Expenses (before waiver/reimbursement) | 0.93%†† | 0.96% | 0.91% | 0.88% | 0.84% | 0.79% |
Net assets at end of period (in 000's) | $20,556 | $22,096 | $28,427 | $28,133 | $26,548 | $27,087 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of distributions. For periods of less than one year, total return is not annualized. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Net investment income (loss) (a) | 0.00‡ | 0.00‡ | 0.00‡ | 0.02 | 0.01 | 0.00‡ |
Net realized and unrealized gain (loss) | 0.00‡ | 0.00‡ | 0.00‡ | 0.00‡ | (0.00)‡ | 0.00‡ |
Total from investment operations | 0.00‡ | 0.00‡ | 0.00‡ | 0.02 | 0.01 | 0.00‡ |
Less distributions: | ||||||
From net investment income | (0.00)‡ | (0.00)‡ | (0.00)‡ | (0.02) | (0.01) | (0.00)‡ |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total investment return (b) | 0.00% | 0.01% | 0.35% | 1.59% | 0.98% | 0.20% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.01%†† | 0.01% | 0.35% | 1.59% | 0.96% | 0.17% |
Net expenses | 0.20%†† | 0.12% | 0.52% | 0.80% | 0.80% | 0.73% |
Expenses (before waiver/reimbursement) | 0.93%†† | 0.97% | 0.90% | 0.88% | 0.84% | 0.79% |
Net assets at end of period (in 000’s) | $24,360 | $25,709 | $30,215 | $32,981 | $37,284 | $43,351 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of distributions. For periods of less than one year, total return is not annualized. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Net investment income (loss) (a) | 0.00‡ | 0.00‡ | 0.00‡ | 0.02 | 0.01 | 0.00‡ |
Net realized and unrealized gain (loss) | 0.00‡ | 0.00‡ | 0.00‡ | 0.00‡ | (0.00)‡ | 0.00‡ |
Total from investment operations | 0.00‡ | 0.00‡ | 0.00‡ | 0.02 | 0.01 | 0.00‡ |
Less distributions: | ||||||
From net investment income | (0.00)‡ | (0.00)‡ | (0.00)‡ | (0.02) | (0.01) | (0.00)‡ |
Net asset value at end of period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total investment return (b) | 0.00% | 0.01% | 0.35% | 1.60% | 0.98% | 0.20% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.01%†† | 0.01% | 0.27% | 1.59% | 0.94% | 0.17% |
Net expenses | 0.20%†† | 0.12% | 0.50% | 0.80% | 0.80% | 0.73% |
Expenses (before waiver/reimbursement) | 0.93%†† | 0.96% | 0.90% | 0.88% | 0.84% | 0.79% |
Net assets at end of period (in 000’s) | $19,367 | $17,941 | $28,171 | $20,308 | $22,983 | $30,831 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of distributions. For periods of less than one year, total return is not annualized. |
16 | MainStay Money Market Fund |
Six months ended April 30, 2022* | Year Ended October 31, | August 31, 2020^ through October 31, | |
SIMPLE Class | 2021 | 2020 | |
Net asset value at beginning of period | $1.00 | $1.00 | $1.00 |
Net investment income (loss) (a) | 0.00‡ | 0.00‡ | (0.00)‡ |
Net realized and unrealized gain (loss) | 0.00‡ | 0.00‡ | 0.00‡ |
Total from investment operations | 0.00‡ | 0.00‡ | 0.00‡ |
Less distributions: | |||
From net investment income | (0.00)‡ | (0.00)‡ | (0.00)‡ |
Net asset value at end of period | $1.00 | $1.00 | $1.00 |
Total investment return (b) | 0.01% | 0.01% | 0.00%‡‡ |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 0.01%†† | 0.01% | (0.02)%†† |
Net expenses | 0.21%†† | 0.12% | 0.19%†† |
Expenses (before waiver/reimbursement) | 0.93%†† | 0.97% | 0.95%†† |
Net assets at end of period (in 000’s) | $66 | $25 | $25 |
* | Unaudited. |
^ | Inception date. |
‡ | Less than one cent per share. |
‡‡ | Less than one-tenth percent. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. SIMPLE Class shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
Class | Commenced Operations |
Class A | January 3, 1995 |
Investor Class | February 28, 2008 |
Class B | May 1, 1986 |
Class C | September 1, 1998 |
SIMPLE Class | August 31, 2020 |
Class R6 | N/A* |
* | Class R6 shares were registered for sale effective as of February 28, 2020 but have not yet commenced operations. |
18 |
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
20 |
Class | Expense | Waived |
Class A | $140,217 | $— |
Investor Class | 49,687 | — |
Class B | 58,417 | — |
Class C | 41,325 | — |
SIMPLE Class | 154 | — |
SIMPLE Class | $25,006 | 37.8% |
2021 | |
Distributions paid from: | |
Ordinary Income | $45,524 |
Class A (at $1 per share) | Shares |
Six-month period ended April 30, 2022: | |
Shares sold | 224,118,623 |
Shares issued to shareholders in reinvestment of distributions | 21,639 |
Shares redeemed | (190,392,898) |
Net increase (decrease) in shares outstanding before conversion | 33,747,364 |
Shares converted into Class A (See Note 1) | 3,408,390 |
Shares converted from Class A (See Note 1) | (19,102) |
Net increase (decrease) | 37,136,652 |
Year ended October 31, 2021: | |
Shares sold | 340,675,734 |
Shares issued to shareholders in reinvestment of distributions | 20,131 |
Shares redeemed | (410,827,373) |
Shares converted into Class A (See Note 1) | 9,888,238 |
Shares converted from Class A (See Note 1) | (55,680) |
Net increase (decrease) | (60,298,950) |
22 |
Investor Class (at $1 per share) | Shares |
Six-month period ended April 30, 2022: | |
Shares sold | 8,805,242 |
Shares issued to shareholders in reinvestment of distributions | 358 |
Shares redeemed | (6,987,795) |
Net increase (decrease) in shares outstanding before conversion | 1,817,805 |
Shares converted into Investor Class (See Note 1) | 28,163 |
Shares converted from Investor Class (See Note 1) | (3,386,157) |
Net increase (decrease) | (1,540,189) |
Year ended October 31, 2021: | |
Shares sold | 16,943,609 |
Shares issued to shareholders in reinvestment of distributions | 811 |
Shares redeemed | (14,259,565) |
Shares converted into Investor Class (See Note 1) | 175,065 |
Shares converted from Investor Class (See Note 1) | (9,191,211) |
Net increase (decrease) | (6,331,291) |
Class B (at $1 per share) | Shares |
Six-month period ended April 30, 2022: | |
Shares sold | 619,379 |
Shares issued to shareholders in reinvestment of distributions | 934 |
Shares redeemed | (1,944,204) |
Net increase (decrease) in shares outstanding before conversion | (1,323,891) |
Shares converted from Class B (See Note 1) | (25,484) |
Net increase (decrease) | (1,349,375) |
Year ended October 31, 2021: | |
Shares sold | 1,636,627 |
Shares issued to shareholders in reinvestment of distributions | 2,084 |
Shares redeemed | (6,104,060) |
Shares converted from Class B (See Note 1) | (40,794) |
Net increase (decrease) | (4,506,143) |
Class C (at $1 per share) | Shares |
Six-month period ended April 30, 2022: | |
Shares sold | 6,071,319 |
Shares issued to shareholders in reinvestment of distributions | 756 |
Shares redeemed | (4,640,044) |
Net increase (decrease) in shares outstanding before conversion | 1,432,031 |
Shares converted from Class C (See Note 1) | (5,812) |
Net increase (decrease) | 1,426,219 |
Year ended October 31, 2021: | |
Shares sold | 9,030,802 |
Shares issued to shareholders in reinvestment of distributions | 1,824 |
Shares redeemed | (18,486,789) |
Shares converted from Class C (See Note 1) | (775,618) |
Net increase (decrease) | (10,229,781) |
SIMPLE Class (at $1 per share) | Shares |
Six-month period ended April 30, 2022: | |
Shares sold | 127,175 |
Shares issued to shareholders in reinvestment of distributions | 3 |
Shares redeemed | (85,956) |
Net increase (decrease) | 41,222 |
Year ended October 31, 2021: | |
Shares issued to shareholders in reinvestment of distributions | 3 |
Net increase (decrease) | 3 |
24 | MainStay Money Market Fund |
26 | MainStay Money Market Fund |
28 |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 5.5% Initial Sales Charge | With sales charges | 7/1/1995 | -28.47% | -17.53% | 14.37% | 12.98% | 0.94% |
Excluding sales charges | -24.31 | -12.73 | 15.67 | 13.62 | 0.94 | |||
Investor Class Shares3 | Maximum 5% Initial Sales Charge | With sales charges | 2/28/2008 | -28.08 | -17.15 | 14.23 | 12.89 | 1.09 |
Excluding sales charges | -24.29 | -12.79 | 15.53 | 13.53 | 1.09 | |||
Class B Shares4 | Maximum 5% CDSC | With sales charges | 4/1/2005 | -27.28 | -16.54 | 14.49 | 12.69 | 1.84 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -24.60 | -13.46 | 14.66 | 12.69 | 1.84 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 4/1/2005 | -25.10 | -14.09 | 14.69 | 12.68 | 1.84 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -24.56 | -13.48 | 14.69 | 12.68 | 1.84 | ||
Class I Shares | No Sales Charge | 4/1/2005 | -24.14 | -12.48 | 15.97 | 13.91 | 0.69 | |
Class R1 Shares | No Sales Charge | 4/1/2005 | -24.16 | -12.54 | 15.86 | 13.81 | 0.79 | |
Class R2 Shares | No Sales Charge | 4/1/2005 | -24.34 | -12.84 | 15.55 | 13.51 | 1.04 | |
Class R3 Shares | No Sales Charge | 4/28/2006 | -24.41 | -13.03 | 15.26 | 13.23 | 1.29 | |
Class R6 Shares | No Sales Charge | 6/17/2013 | -24.19 | -12.44 | 16.05 | 14.64 | 0.63 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -24.45 | -13.08 | N/A | -1.25 | 1.34 |
1. | Not annualized. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Prior to June 30, 2020, the maximum initial sales charge was 5.5%, which is reflected in the applicable average annual total return figures shown. |
4. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
Russell 1000® Growth Index2 | -17.84% | -5.35% | 17.28% | 15.56% |
S&P 500® Index3 | -9.65 | 0.21 | 13.66 | 13.67 |
Morningstar Large Growth Category Average4 | -21.58 | -12.66 | 13.61 | 12.75 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The Russell 1000® Growth Index is the Fund's primary benchmark. The Russell 1000® Growth Index is a broad-based benchmark that measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The S&P 500® Index is the Fund's secondary benchmark. “S&P 500®" is a trademark of The McGraw-Hill Companies, Inc. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Morningstar Large Growth Category Average is representative of funds that invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth and high valuations. Most of these funds focus on companies in rapidly expanding industries. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay Winslow Large Cap Growth Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $756.90 | $4.05 | $1,020.18 | $4.66 | 0.93% |
Investor Class Shares | $1,000.00 | $757.10 | $4.71 | $1,019.44 | $5.41 | 1.08% |
Class B Shares | $1,000.00 | $754.00 | $7.96 | $1,015.72 | $9.15 | 1.83% |
Class C Shares | $1,000.00 | $754.40 | $7.96 | $1,015.72 | $9.15 | 1.83% |
Class I Shares | $1,000.00 | $758.60 | $2.97 | $1,021.42 | $3.41 | 0.68% |
Class R1 Shares | $1,000.00 | $758.40 | $3.40 | $1,020.93 | $3.91 | 0.78% |
Class R2 Shares | $1,000.00 | $756.60 | $4.49 | $1,019.69 | $5.16 | 1.03% |
Class R3 Shares | $1,000.00 | $755.90 | $5.57 | $1,018.45 | $6.41 | 1.28% |
Class R6 Shares | $1,000.00 | $758.10 | $2.70 | $1,021.72 | $3.11 | 0.62% |
SIMPLE Class Shares | $1,000.00 | $755.50 | $5.79 | $1,018.20 | $6.66 | 1.33% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Industry Composition as of April 30, 2022 (Unaudited)
Software | 22.7% |
IT Services | 10.6 |
Interactive Media & Services | 6.7 |
Internet & Direct Marketing Retail | 6.5 |
Semiconductors & Semiconductor Equipment | 6.3 |
Hotels, Restaurants & Leisure | 5.1 |
Life Sciences Tools & Services | 4.5 |
Textiles, Apparel & Luxury Goods | 4.3 |
Health Care Equipment & Supplies | 4.1 |
Automobiles | 4.0 |
Capital Markets | 4.0 |
Road & Rail | 2.6 |
Health Care Providers & Services | 2.2 |
Multiline Retail | 2.2 |
Chemicals | 2.2% |
Pharmaceuticals | 2.2 |
Machinery | 1.7 |
Personal Products | 1.4 |
Food & Staples Retailing | 1.4 |
Specialty Retail | 1.3 |
Professional Services | 1.2 |
Health Care Technology | 1.2 |
Containers & Packaging | 1.1 |
Real Estate Management & Development | 0.0‡ |
Short–Term Investments | 0.5 |
Other Assets, Less Liabilities | –0.0‡ |
100.0% |
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | Microsoft Corp. |
2. | Alphabet, Inc. |
3. | Amazon.com, Inc. |
4. | Tesla, Inc. |
5. | Mastercard, Inc., Class A |
6. | Visa, Inc., Class A |
7. | Union Pacific Corp. |
8. | Intuit, Inc. |
9. | Lululemon Athletica, Inc. |
10. | NVIDIA Corp. |
8 | MainStay Winslow Large Cap Growth Fund |
10 | MainStay Winslow Large Cap Growth Fund |
Shares | Value | |
Common Stocks 99.5% | ||
Automobiles 4.0% | ||
Tesla, Inc. (a) | 604,200 | $ 526,113,192 |
Capital Markets 4.0% | ||
Blackstone, Inc. | 2,060,100 | 209,244,357 |
Moody's Corp. | 520,050 | 164,585,424 |
MSCI, Inc. | 360,600 | 151,902,750 |
525,732,531 | ||
Chemicals 2.2% | ||
Linde plc | 918,430 | 286,513,423 |
Containers & Packaging 1.1% | ||
Ball Corp. | 1,848,950 | 150,060,782 |
Food & Staples Retailing 1.4% | ||
Costco Wholesale Corp. | 338,500 | 179,987,220 |
Health Care Equipment & Supplies 4.1% | ||
ABIOMED, Inc. (a) | 598,600 | 171,546,788 |
IDEXX Laboratories, Inc. (a) | 321,400 | 138,356,272 |
Intuitive Surgical, Inc. (a) | 917,300 | 219,509,890 |
529,412,950 | ||
Health Care Providers & Services 2.2% | ||
UnitedHealth Group, Inc. | 567,000 | 288,347,850 |
Health Care Technology 1.2% | ||
Veeva Systems, Inc., Class A (a) | 846,450 | 154,011,578 |
Hotels, Restaurants & Leisure 5.1% | ||
Airbnb, Inc., Class A (a) | 761,200 | 116,623,452 |
Chipotle Mexican Grill, Inc. (a) | 195,450 | 284,498,974 |
Hilton Worldwide Holdings, Inc. (a) | 1,694,100 | 263,076,789 |
664,199,215 | ||
Interactive Media & Services 6.7% | ||
Alphabet, Inc. (a) | ||
Class A | 191,151 | 436,242,901 |
Class C | 193,526 | 444,980,137 |
881,223,038 | ||
Internet & Direct Marketing Retail 6.5% | ||
Amazon.com, Inc. (a) | 342,590 | 851,551,982 |
Shares | Value | |
IT Services 10.6% | ||
Accenture plc, Class A | 921,100 | $ 276,661,596 |
Gartner, Inc. (a) | 690,540 | 200,636,397 |
Mastercard, Inc., Class A | 1,352,400 | 491,435,112 |
Visa, Inc., Class A | 1,969,100 | 419,674,283 |
1,388,407,388 | ||
Life Sciences Tools & Services 4.5% | ||
Agilent Technologies, Inc. | 1,763,500 | 210,332,645 |
Bio-Techne Corp. | 485,300 | 184,263,557 |
IQVIA Holdings, Inc. (a) | 897,600 | 195,667,824 |
590,264,026 | ||
Machinery 1.7% | ||
Deere & Co. | 581,100 | 219,394,305 |
Multiline Retail 2.2% | ||
Dollar Tree, Inc. (a) | 1,768,100 | 287,227,845 |
Personal Products 1.4% | ||
Estee Lauder Cos., Inc. (The), Class A | 686,320 | 181,229,659 |
Pharmaceuticals 2.2% | ||
Zoetis, Inc. | 1,614,740 | 286,212,665 |
Professional Services 1.2% | ||
CoStar Group, Inc. (a) | 2,542,900 | 161,779,298 |
Real Estate Management & Development 0.0% ‡ | ||
Compass, Inc., Class A (a)(b) | 421,700 | 2,289,831 |
Road & Rail 2.6% | ||
Union Pacific Corp. | 1,450,100 | 339,743,929 |
Semiconductors & Semiconductor Equipment 6.3% | ||
Analog Devices, Inc. | 1,383,340 | 213,560,029 |
ASML Holding NV (Registered) | 528,770 | 298,104,663 |
NVIDIA Corp. | 1,653,150 | 306,609,731 |
818,274,423 | ||
Software 22.7% | ||
Adobe, Inc. (a) | 332,610 | 131,696,930 |
Atlassian Corp. plc, Class A (a) | 727,950 | 163,664,998 |
Intuit, Inc. | 785,210 | 328,806,687 |
Microsoft Corp. | 4,952,030 | 1,374,287,366 |
Palo Alto Networks, Inc. (a) | 446,500 | 250,611,520 |
salesforce.com, Inc. (a) | 1,373,590 | 241,669,425 |
Shares | Value | |
Common Stocks (continued) | ||
Software (continued) | ||
ServiceNow, Inc. (a) | 523,810 | $ 250,433,561 |
Workday, Inc., Class A (a) | 1,062,970 | 219,715,899 |
2,960,886,386 | ||
Specialty Retail 1.3% | ||
Lowe's Cos., Inc. | 839,850 | 166,063,540 |
Textiles, Apparel & Luxury Goods 4.3% | ||
Lululemon Athletica, Inc. (a) | 869,100 | 308,208,933 |
NIKE, Inc., Class B | 1,991,540 | 248,345,038 |
556,553,971 | ||
Total Common Stocks (Cost $8,623,185,390) | 12,995,481,027 | |
Short-Term Investments 0.5% | ||
Affiliated Investment Company 0.5% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (c) | 59,546,362 | 59,546,362 |
Unaffiliated Investment Company 0.0% ‡ | ||
Invesco Government & Agency Portfolio, 0.419% (c)(d) | 2,028,978 | 2,028,978 |
Total Short-Term Investments (Cost $61,575,340) | 61,575,340 | |
Total Investments (Cost $8,684,760,730) | 100.0% | 13,057,056,367 |
Other Assets, Less Liabilities | (0.0)‡ | (2,022,151) |
Net Assets | 100.0% | $ 13,055,034,216 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Non-income producing security. |
(b) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $1,836,225. The Fund received cash collateral with a value of $2,028,978. (See Note 2(G)) |
(c) | Current yield as of April 30, 2022. |
(d) | Represents a security purchased with cash collateral received for securities on loan. |
12 | MainStay Winslow Large Cap Growth Fund |
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 238,863 | $ 2,127,187 | $ (2,306,504) | $ — | $ — | $ 59,546 | $ 15 | $ — | 59,546 |
The following is a summary of the fair valuations according to the inputs used as of April 30, 2022, for valuing the Fund’s assets:
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Common Stocks | $ 12,995,481,027 | $ — | $ — | $ 12,995,481,027 |
Short-Term Investments | ||||
Affiliated Investment Company | 59,546,362 | — | — | 59,546,362 |
Unaffiliated Investment Company | 2,028,978 | — | — | 2,028,978 |
Total Short-Term Investments | 61,575,340 | — | — | 61,575,340 |
Total Investments in Securities | $ 13,057,056,367 | $ — | $ — | $ 13,057,056,367 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $8,625,214,368) including securities on loan of $1,836,225 | $12,997,510,005 |
Investment in affiliated investment companies, at value (identified cost $59,546,362) | 59,546,362 |
Receivables: | |
Fund shares sold | 12,833,906 |
Dividends | 6,103,593 |
Securities lending | 1,544 |
Other assets | 225,617 |
Total assets | 13,076,221,027 |
Liabilities | |
Cash collateral received for securities on loan | 2,028,978 |
Payables: | |
Fund shares redeemed | 10,047,576 |
Manager (See Note 3) | 6,873,564 |
Transfer agent (See Note 3) | 1,297,452 |
NYLIFE Distributors (See Note 3) | 506,119 |
Shareholder communication | 285,684 |
Custodian | 60,440 |
Trustees | 23,202 |
Professional fees | 16,786 |
Accrued expenses | 47,010 |
Total liabilities | 21,186,811 |
Net assets | $13,055,034,216 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $13,031,424 |
Additional paid-in-capital | 7,939,538,293 |
7,952,569,717 | |
Total distributable earnings (loss) | 5,102,464,499 |
Net assets | $13,055,034,216 |
Class A | |
Net assets applicable to outstanding shares | $1,265,934,474 |
Shares of beneficial interest outstanding | 142,175,289 |
Net asset value per share outstanding | $8.90 |
Maximum sales charge (5.50% of offering price) | 0.52 |
Maximum offering price per share outstanding | $9.42 |
Investor Class | |
Net assets applicable to outstanding shares | $77,134,896 |
Shares of beneficial interest outstanding | 8,937,903 |
Net asset value per share outstanding | $8.63 |
Maximum sales charge (5.00% of offering price) | 0.45 |
Maximum offering price per share outstanding | $9.08 |
Class B | |
Net assets applicable to outstanding shares | $12,955,823 |
Shares of beneficial interest outstanding | 2,204,647 |
Net asset value and offering price per share outstanding | $5.88 |
Class C | |
Net assets applicable to outstanding shares | $59,257,777 |
Shares of beneficial interest outstanding | 10,115,590 |
Net asset value and offering price per share outstanding | $5.86 |
Class I | |
Net assets applicable to outstanding shares | $7,046,967,712 |
Shares of beneficial interest outstanding | 688,384,378 |
Net asset value and offering price per share outstanding | $10.24 |
Class R1 | |
Net assets applicable to outstanding shares | $827,769,523 |
Shares of beneficial interest outstanding | 84,853,903 |
Net asset value and offering price per share outstanding | $9.76 |
Class R2 | |
Net assets applicable to outstanding shares | $123,432,562 |
Shares of beneficial interest outstanding | 14,037,533 |
Net asset value and offering price per share outstanding | $8.79 |
Class R3 | |
Net assets applicable to outstanding shares | $46,308,454 |
Shares of beneficial interest outstanding | 5,868,087 |
Net asset value and offering price per share outstanding | $7.89 |
Class R6 | |
Net assets applicable to outstanding shares | $3,595,093,195 |
Shares of beneficial interest outstanding | 346,544,153 |
Net asset value and offering price per share outstanding | $10.37 |
14 | MainStay Winslow Large Cap Growth Fund |
SIMPLE Class | |
Net assets applicable to outstanding shares | $179,800 |
Shares of beneficial interest outstanding | 20,952 |
Net asset value and offering price per share outstanding | $8.58 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated (net of foreign tax withholding of $100,350) | $36,705,356 |
Securities lending | 17,741 |
Dividends-affiliated | 15,442 |
Total income | 36,738,539 |
Expenses | |
Manager (See Note 3) | 44,790,297 |
Transfer agent (See Note 3) | 3,717,957 |
Distribution/Service—Class A (See Note 3) | 1,920,618 |
Distribution/Service—Investor Class (See Note 3) | 116,714 |
Distribution/Service—Class B (See Note 3) | 85,584 |
Distribution/Service—Class C (See Note 3) | 378,686 |
Distribution/Service—Class R2 (See Note 3) | 192,900 |
Distribution/Service—Class R3 (See Note 3) | 138,591 |
Distribution/Service—SIMPLE Class (See Note 3) | 291 |
Shareholder service (See Note 3) | 619,898 |
Professional fees | 378,545 |
Shareholder communication | 198,869 |
Trustees | 158,040 |
Registration | 117,243 |
Custodian | 93,705 |
Miscellaneous | 224,343 |
Total expenses before waiver/reimbursement | 53,132,281 |
Expense waiver/reimbursement from Manager (See Note 3) | (694,527) |
Net expenses | 52,437,754 |
Net investment income (loss) | (15,699,215) |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | 753,174,190 |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (4,707,908,054) |
Net realized and unrealized gain (loss) | (3,954,733,864) |
Net increase (decrease) in net assets resulting from operations | $(3,970,433,079) |
16 | MainStay Winslow Large Cap Growth Fund |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $(15,699,215) | $(48,715,947) |
Net realized gain (loss) | 753,174,190 | 3,677,702,280 |
Net change in unrealized appreciation (depreciation) | (4,707,908,054) | 1,807,847,917 |
Net increase (decrease) in net assets resulting from operations | (3,970,433,079) | 5,436,834,250 |
Distributions to shareholders: | ||
Class A | (364,430,982) | (77,969,502) |
Investor Class | (22,723,256) | (6,618,988) |
Class B | (5,810,514) | (1,541,249) |
Class C | (25,394,319) | (7,351,321) |
Class I | (1,557,071,002) | (355,187,292) |
Class R1 | (230,113,135) | (49,620,776) |
Class R2 | (37,915,929) | (8,981,664) |
Class R3 | (14,198,963) | (3,495,754) |
Class R6 | (894,224,087) | (207,330,897) |
SIMPLE Class | (16,490) | (1,359) |
Total distributions to shareholders | (3,151,898,677) | (718,098,802) |
Capital share transactions: | ||
Net proceeds from sales of shares | 2,523,855,760 | 2,324,245,742 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 2,914,751,427 | 659,913,063 |
Cost of shares redeemed | (1,901,384,349) | (4,567,266,116) |
Increase (decrease) in net assets derived from capital share transactions | 3,537,222,838 | (1,583,107,311) |
Net increase (decrease) in net assets | (3,585,108,918) | 3,135,628,137 |
Net Assets | ||
Beginning of period | 16,640,143,134 | 13,504,514,997 |
End of period | $13,055,034,216 | $16,640,143,134 |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $14.92 | $11.08 | $9.59 | $9.95 | $10.41 | $9.17 |
Net investment income (loss) (a) | (0.02) | (0.07) | (0.03) | (0.02) | (0.02) | (0.01) |
Net realized and unrealized gain (loss) | (2.89) | 4.55 | 2.58 | 1.48 | 1.12 | 2.31 |
Total from investment operations | (2.91) | 4.48 | 2.55 | 1.46 | 1.10 | 2.30 |
Less distributions: | ||||||
From net investment income | — | — | — | — | (0.00)‡ | — |
From net realized gain on investments | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Total distributions | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Net asset value at end of period | $8.90 | $14.92 | $11.08 | $9.59 | $9.95 | $10.41 |
Total investment return (b) | (24.31)% | 42.16% | 29.44% | 17.05% | 12.36% | 28.54% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.43)%†† | (0.53)% | (0.31)% | (0.20)% | (0.21)% | (0.15)% |
Net expenses (c) | 0.93%†† | 0.93% | 0.97% | 0.99% | 0.97% | 1.00% |
Expenses (before waiver/reimbursement) (c) | 0.94%†† | 0.94% | 0.97% | 0.99% | 0.98% | 1.00% |
Portfolio turnover rate | 40% | 66% | 44% | 54% | 52% | 61% |
Net assets at end of period (in 000’s) | $1,265,934 | $1,745,833 | $1,341,381 | $1,008,608 | $1,092,962 | $960,123 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $14.56 | $10.84 | $9.42 | $9.81 | $10.30 | $9.09 |
Net investment income (loss) (a) | (0.03) | (0.08) | (0.04) | (0.03) | (0.03) | (0.02) |
Net realized and unrealized gain (loss) | (2.79) | 4.44 | 2.52 | 1.46 | 1.10 | 2.29 |
Total from investment operations | (2.82) | 4.36 | 2.48 | 1.43 | 1.07 | 2.27 |
Less distributions: | ||||||
From net realized gain on investments | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Net asset value at end of period | $8.63 | $14.56 | $10.84 | $9.42 | $9.81 | $10.30 |
Total investment return (b) | (24.29)% | 41.98% | 29.19% | 16.96% | 12.19% | 28.45% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.58)%†† | (0.67)% | (0.43)% | (0.31)% | (0.30)% | (0.19)% |
Net expenses (c) | 1.08%†† | 1.08% | 1.10% | 1.09% | 1.06% | 1.07% |
Expenses (before waiver/reimbursement) (c) | 1.09%†† | 1.09% | 1.10% | 1.10% | 1.07% | 1.07% |
Portfolio turnover rate | 40% | 66% | 44% | 54% | 52% | 61% |
Net assets at end of period (in 000's) | $77,135 | $106,354 | $110,831 | $109,236 | $103,987 | $108,078 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
18 | MainStay Winslow Large Cap Growth Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $10.96 | $8.37 | $7.55 | $8.26 | $8.98 | $8.11 |
Net investment income (loss) (a) | (0.05) | (0.13) | (0.09) | (0.08) | (0.09) | (0.08) |
Net realized and unrealized gain (loss) | (1.92) | 3.36 | 1.97 | 1.19 | 0.93 | 2.01 |
Total from investment operations | (1.97) | 3.23 | 1.88 | 1.11 | 0.84 | 1.93 |
Less distributions: | ||||||
From net realized gain on investments | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Net asset value at end of period | $5.88 | $10.96 | $8.37 | $7.55 | $8.26 | $8.98 |
Total investment return (b) | (24.60)% | 40.80% | 28.37% | 15.96% | 11.28%(c) | 27.61% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (1.33)%†† | (1.42)% | (1.17)% | (1.05)% | (1.04)% | (0.96)% |
Net expenses (d) | 1.83%†† | 1.83% | 1.85% | 1.84% | 1.81% | 1.82% |
Expenses (before waiver/reimbursement) (d) | 1.84%†† | 1.84% | 1.85% | 1.85% | 1.82% | 1.82% |
Portfolio turnover rate | 40% | 66% | 44% | 54% | 52% | 61% |
Net assets at end of period (in 000’s) | $12,956 | $20,533 | $20,172 | $21,015 | $25,685 | $31,793 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | Total investment return may reflect adjustments to conform to generally accepted accounting principles. |
(d) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $10.93 | $8.35 | $7.53 | $8.25 | $8.96 | $8.10 |
Net investment income (loss) (a) | (0.05) | (0.13) | (0.09) | (0.07) | (0.09) | (0.08) |
Net realized and unrealized gain (loss) | (1.91) | 3.35 | 1.97 | 1.17 | 0.94 | 2.00 |
Total from investment operations | (1.96) | 3.22 | 1.88 | 1.10 | 0.85 | 1.92 |
Less distributions: | ||||||
From net realized gain on investments | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Net asset value at end of period | $5.86 | $10.93 | $8.35 | $7.53 | $8.25 | $8.96 |
Total investment return (b) | (24.56)% | 40.77% | 28.46% | 15.97% | 11.42% | 27.51% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (1.33)%†† | (1.42)% | (1.17)% | (1.04)% | (1.05)% | (0.96)% |
Net expenses (c) | 1.83%†† | 1.83% | 1.85% | 1.84% | 1.81% | 1.82% |
Expenses (before waiver/reimbursement) (c) | 1.84%†† | 1.84% | 1.85% | 1.85% | 1.82% | 1.82% |
Portfolio turnover rate | 40% | 66% | 44% | 54% | 52% | 61% |
Net assets at end of period (in 000’s) | $59,258 | $90,377 | $95,761 | $131,945 | $197,231 | $229,283 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $16.66 | $12.28 | $10.49 | $10.69 | $11.06 | $9.65 |
Net investment income (loss) (a) | (0.01) | (0.04) | (0.01) | 0.00‡ | 0.00‡ | 0.01 |
Net realized and unrealized gain (loss) | (3.30) | 5.06 | 2.86 | 1.62 | 1.20 | 2.46 |
Total from investment operations | (3.31) | 5.02 | 2.85 | 1.62 | 1.20 | 2.47 |
Less distributions: | ||||||
From net investment income | — | — | — | — | (0.01) | — |
From net realized gain on investments | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Total distributions | (3.11) | (0.64) | (1.06) | (1.82) | (1.57) | (1.06) |
Net asset value at end of period | $10.24 | $16.66 | $12.28 | $10.49 | $10.69 | $11.06 |
Total investment return (b) | (24.14)% | 42.46% | 29.80% | 17.29% | 12.54%(c) | 28.92% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.18)%†† | (0.28)% | (0.06)% | 0.05% | 0.04% | 0.12% |
Net expenses (d) | 0.68%†† | 0.68% | 0.72% | 0.74% | 0.72% | 0.75% |
Expenses (before waiver/reimbursement) (d) | 0.69%†† | 0.69% | 0.72% | 0.74% | 0.73% | 0.75% |
Portfolio turnover rate | 40% | 66% | 44% | 54% | 52% | 61% |
Net assets at end of period (in 000’s) | $7,046,968 | $8,434,291 | $6,824,224 | $6,080,320 | $6,275,780 | $6,752,754 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | Total investment return may reflect adjustments to conform to generally accepted accounting principles. |
(d) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
20 | MainStay Winslow Large Cap Growth Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R1 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $16.03 | $11.85 | $10.17 | $10.43 | $10.83 | $9.48 |
Net investment income (loss) (a) | (0.02) | (0.05) | (0.02) | (0.00)‡ | (0.01) | 0.00‡ |
Net realized and unrealized gain (loss) | (3.14) | 4.87 | 2.76 | 1.56 | 1.17 | 2.41 |
Total from investment operations | (3.16) | 4.82 | 2.74 | 1.56 | 1.16 | 2.41 |
Less distributions: | ||||||
From net realized gain on investments | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Net asset value at end of period | $9.76 | $16.03 | $11.85 | $10.17 | $10.43 | $10.83 |
Total investment return (b) | (24.16)% | 42.30% | 29.64% | 17.25% | 12.46% | 28.79% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.29)%†† | (0.38)% | (0.15)% | (0.04)% | (0.06)% | 0.01% |
Net expenses (c) | 0.78%†† | 0.78% | 0.82% | 0.84% | 0.82% | 0.85% |
Expenses (before waiver/reimbursement) (c) | 0.79%†† | 0.79% | 0.82% | 0.84% | 0.83% | 0.85% |
Portfolio turnover rate | 40% | 66% | 44% | 54% | 52% | 61% |
Net assets at end of period (in 000’s) | $827,770 | $1,207,903 | $914,359 | $919,236 | $1,102,423 | $1,596,638 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R1 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R2 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $14.78 | $10.99 | $9.53 | $9.90 | $10.38 | $9.15 |
Net investment income (loss) (a) | (0.03) | (0.08) | (0.04) | (0.03) | (0.03) | (0.02) |
Net realized and unrealized gain (loss) | (2.85) | 4.51 | 2.56 | 1.48 | 1.11 | 2.31 |
Total from investment operations | (2.88) | 4.43 | 2.52 | 1.45 | 1.08 | 2.29 |
Less distributions: | ||||||
From net realized gain on investments | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Net asset value at end of period | $8.79 | $14.78 | $10.99 | $9.53 | $9.90 | $10.38 |
Total investment return (b) | (24.34)% | 42.04% | 29.29% | 16.89% | 12.17%(c) | 28.49% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.53)%†† | (0.63)% | (0.40)% | (0.29)% | (0.31)% | (0.24)% |
Net expenses (d) | 1.03%†† | 1.03% | 1.07% | 1.09% | 1.07% | 1.10% |
Expenses (before waiver/reimbursement) (d) | 1.04%†† | 1.04% | 1.07% | 1.09% | 1.08% | 1.10% |
Portfolio turnover rate | 40% | 66% | 44% | 54% | 52% | 61% |
Net assets at end of period (in 000’s) | $123,433 | $188,790 | $159,297 | $163,288 | $227,298 | $303,192 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R2 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | Total investment return may reflect adjustments to conform to generally accepted accounting principles. |
(d) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R3 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $13.60 | $10.19 | $8.93 | $9.41 | $9.96 | $8.85 |
Net investment income (loss) (a) | (0.04) | (0.10) | (0.06) | (0.05) | (0.05) | (0.04) |
Net realized and unrealized gain (loss) | (2.56) | 4.15 | 2.38 | 1.39 | 1.06 | 2.21 |
Total from investment operations | (2.60) | 4.05 | 2.32 | 1.34 | 1.01 | 2.17 |
Less distributions: | ||||||
From net realized gain on investments | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Net asset value at end of period | $7.89 | $13.60 | $10.19 | $8.93 | $9.41 | $9.96 |
Total investment return (b) | (24.41)% | 41.60% | 28.99% | 16.69% | 11.97% | 28.05% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.78)%†† | (0.88)% | (0.65)% | (0.55)% | (0.55)% | (0.49)% |
Net expenses (c) | 1.28%†† | 1.28% | 1.32% | 1.34% | 1.32% | 1.35% |
Expenses (before waiver/reimbursement) (c) | 1.29%†† | 1.29% | 1.32% | 1.34% | 1.33% | 1.35% |
Portfolio turnover rate | 40% | 66% | 44% | 54% | 52% | 61% |
Net assets at end of period (in 000’s) | $46,308 | $63,195 | $56,657 | $57,283 | $61,850 | $78,634 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R6 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $16.84 | $12.39 | $10.58 | $10.76 | $11.12 | $9.69 |
Net investment income (loss) (a) | (0.01) | (0.03) | 0.00‡ | 0.01 | 0.01 | 0.02 |
Net realized and unrealized gain (loss) | (3.35) | 5.12 | 2.88 | 1.63 | 1.21 | 2.47 |
Total from investment operations | (3.36) | 5.09 | 2.88 | 1.64 | 1.22 | 2.49 |
Less distributions: | ||||||
From net investment income | — | — | (0.01) | — | (0.02) | — |
From net realized gain on investments | (3.11) | (0.64) | (1.06) | (1.82) | (1.56) | (1.06) |
Total distributions | (3.11) | (0.64) | (1.07) | (1.82) | (1.58) | (1.06) |
Net asset value at end of period | $10.37 | $16.84 | $12.39 | $10.58 | $10.76 | $11.12 |
Total investment return (b) | (24.19)% | 42.65% | 29.83% | 17.49% | 12.72% | 29.02% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.12)%†† | (0.22)% | 0.02% | 0.13% | 0.13% | 0.21% |
Net expenses (c) | 0.62%†† | 0.62% | 0.64% | 0.64% | 0.63% | 0.63% |
Expenses (before waiver/reimbursement) (c) | 0.63%†† | 0.63% | 0.64% | 0.64% | 0.64% | 0.63% |
Portfolio turnover rate | 40% | 66% | 44% | 54% | 52% | 61% |
Net assets at end of period (in 000’s) | $3,595,093 | $4,782,798 | $3,981,812 | $3,148,459 | $2,463,405 | $2,122,217 |
* | Unaudited. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
22 | MainStay Winslow Large Cap Growth Fund |
Six months ended April 30, 2022* | Year Ended October 31, | August 31, 2020^ through October 31, | |
SIMPLE Class | 2021 | 2020 | |
Net asset value at beginning of period | $14.52 | $10.84 | $11.84** |
Net investment income (loss) (a) | (0.04) | (0.12) | (0.02) |
Net realized and unrealized gain (loss) | (2.79) | 4.44 | (0.98) |
Total from investment operations | (2.83) | 4.32 | (1.00) |
Less distributions: | |||
From net realized gain on investments | (3.11) | (0.64) | — |
Net asset value at end of period | $8.58 | $14.52 | $10.84 |
Total investment return (b) | (24.45)% | 41.59% | (8.45)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | (0.86)%†† | (0.96)% | (1.00)%†† |
Net expenses (c) | 1.33%†† | 1.33% | 1.32%†† |
Expenses (before waiver/reimbursement) (c) | 1.34%†† | 1.34% | 1.33%†† |
Portfolio turnover rate | 40% | 66% | 44% |
Net assets at end of period (in 000’s) | $180 | $71 | $23 |
* | Unaudited. |
^ | Inception date. |
** | Based on the net asset value of Investor Class as of August 31, 2020. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. SIMPLE Class shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Class | Commenced Operations |
Class A | July 1, 1995 |
Investor Class | February 28, 2008 |
Class B | April 1, 2005 |
Class C | April 1, 2005 |
Class I | April 1, 2005 |
Class R1 | April 1, 2005 |
Class R2 | April 1, 2005 |
Class R3 | April 28, 2006 |
Class R6 | June 17, 2013 |
SIMPLE Class | August 31, 2020 |
24 | MainStay Winslow Large Cap Growth Fund |
• Broker/dealer quotes | • Benchmark securities |
• Two-sided markets | • Reference data (corporate actions or material event notices) |
• Bids/offers | • Monthly payment information |
• Industry and economic events | • Reported trades |
26 | MainStay Winslow Large Cap Growth Fund |
Class R1 | $515,020 |
Class R2 | 77,160 |
Class R3 | 27,718 |
28 | MainStay Winslow Large Cap Growth Fund |
Class | Expense | Waived |
Class A | $515,990 | $— |
Investor Class | 100,845 | — |
Class B | 18,482 | — |
Class C | 81,772 | — |
Class I | 2,499,418 | — |
Class R1 | 345,293 | — |
Class R2 | 51,680 | — |
Class R3 | 18,625 | — |
Class R6 | 85,726 | — |
SIMPLE Class | 126 | — |
SIMPLE Class | $24,484 | 13.6% |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $8,692,055,611 | $4,623,978,479 | $(258,977,723) | $4,365,000,756 |
2021 | |
Distributions paid from: | |
Ordinary Income | $6,461 |
Long-Term Capital Gains | 718,092,341 |
Total | $718,098,802 |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 11,554,908 | $129,637,910 |
Shares issued to shareholders in reinvestment of distributions | 28,541,324 | 330,508,535 |
Shares redeemed | (15,431,856) | (167,249,193) |
Net increase (decrease) in shares outstanding before conversion | 24,664,376 | 292,897,252 |
Shares converted into Class A (See Note 1) | 588,326 | 6,541,937 |
Shares converted from Class A (See Note 1) | (95,284) | (1,017,065) |
Net increase (decrease) | 25,157,418 | $298,422,124 |
Year ended October 31, 2021: | ||
Shares sold | 22,033,022 | $277,150,403 |
Shares issued to shareholders in reinvestment of distributions | 5,387,054 | 62,220,376 |
Shares redeemed | (21,566,819) | (275,933,108) |
Net increase (decrease) in shares outstanding before conversion | 5,853,257 | 63,437,671 |
Shares converted into Class A (See Note 1) | 3,416,327 | 43,736,806 |
Shares converted from Class A (See Note 1) | (13,324,070) | (192,191,173) |
Net increase (decrease) | (4,054,486) | $(85,016,696) |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 403,166 | $4,199,609 |
Shares issued to shareholders in reinvestment of distributions | 2,020,847 | 22,694,115 |
Shares redeemed | (444,195) | (4,588,121) |
Net increase (decrease) in shares outstanding before conversion | 1,979,818 | 22,305,603 |
Shares converted into Investor Class (See Note 1) | 44,167 | 439,539 |
Shares converted from Investor Class (See Note 1) | (388,452) | (4,284,819) |
Net increase (decrease) | 1,635,533 | $18,460,323 |
Year ended October 31, 2021: | ||
Shares sold | 1,128,446 | $13,734,676 |
Shares issued to shareholders in reinvestment of distributions | 586,179 | 6,612,105 |
Shares redeemed | (1,798,752) | (21,424,583) |
Net increase (decrease) in shares outstanding before conversion | (84,127) | (1,077,802) |
Shares converted into Investor Class (See Note 1) | 117,807 | 1,439,267 |
Shares converted from Investor Class (See Note 1) | (2,952,718) | (37,155,883) |
Net increase (decrease) | (2,919,038) | $(36,794,418) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 24,843 | $185,724 |
Shares issued to shareholders in reinvestment of distributions | 739,284 | 5,677,697 |
Shares redeemed | (164,946) | (1,160,480) |
Net increase (decrease) in shares outstanding before conversion | 599,181 | 4,702,941 |
Shares converted from Class B (See Note 1) | (267,540) | (1,886,955) |
Net increase (decrease) | 331,641 | $2,815,986 |
Year ended October 31, 2021: | ||
Shares sold | 68,840 | $639,418 |
Shares issued to shareholders in reinvestment of distributions | 175,009 | 1,496,329 |
Shares redeemed | (361,090) | (3,390,436) |
Net increase (decrease) in shares outstanding before conversion | (117,241) | (1,254,689) |
Shares converted from Class B (See Note 1) | (420,928) | (3,906,383) |
Net increase (decrease) | (538,169) | $(5,161,072) |
30 | MainStay Winslow Large Cap Growth Fund |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 1,017,644 | $7,508,301 |
Shares issued to shareholders in reinvestment of distributions | 2,934,481 | 22,448,781 |
Shares redeemed | (1,988,628) | (14,562,770) |
Net increase (decrease) in shares outstanding before conversion | 1,963,497 | 15,394,312 |
Shares converted from Class C (See Note 1) | (113,451) | (781,925) |
Net increase (decrease) | 1,850,046 | $14,612,387 |
Year ended October 31, 2021: | ||
Shares sold | 1,104,348 | $10,258,434 |
Shares issued to shareholders in reinvestment of distributions | 768,446 | 6,554,845 |
Shares redeemed | (4,655,683) | (42,505,085) |
Net increase (decrease) in shares outstanding before conversion | (2,782,889) | (25,691,806) |
Shares converted from Class C (See Note 1) | (425,646) | (3,803,804) |
Net increase (decrease) | (3,208,535) | $(29,495,610) |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 163,780,723 | $1,895,466,087 |
Shares issued to shareholders in reinvestment of distributions | 104,600,432 | 1,391,185,741 |
Shares redeemed | (86,277,474) | (1,088,991,899) |
Net increase (decrease) in shares outstanding before conversion | 182,103,681 | 2,197,659,929 |
Shares converted into Class I (See Note 1) | 81,787 | 998,113 |
Net increase (decrease) | 182,185,468 | $2,198,658,042 |
Year ended October 31, 2021: | ||
Shares sold | 75,666,444 | $1,069,786,583 |
Shares issued to shareholders in reinvestment of distributions | 24,932,557 | 320,632,678 |
Shares redeemed | (162,239,448) | (2,363,597,119) |
Net increase (decrease) in shares outstanding before conversion | (61,640,447) | (973,177,858) |
Shares converted into Class I (See Note 1) | 11,934,333 | 192,159,317 |
Net increase (decrease) | (49,706,114) | $(781,018,541) |
Class R1 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 5,810,967 | $68,007,684 |
Shares issued to shareholders in reinvestment of distributions | 18,146,768 | 230,101,018 |
Shares redeemed | (14,440,726) | (177,675,563) |
Net increase (decrease) in shares outstanding before conversion | 9,517,009 | 120,433,139 |
Shares converted from Class R1 (See Note 1) | (856) | (8,825) |
Net increase (decrease) | 9,516,153 | $120,424,314 |
Year ended October 31, 2021: | ||
Shares sold | 11,175,211 | $154,183,022 |
Shares issued to shareholders in reinvestment of distributions | 4,004,675 | 49,617,929 |
Shares redeemed | (17,022,741) | (234,903,685) |
Net increase (decrease) in shares outstanding before conversion | (1,842,855) | (31,102,734) |
Shares converted from Class R1 (See Note 1) | (7,903) | (117,121) |
Net increase (decrease) | (1,850,758) | $(31,219,855) |
Class R2 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 1,746,459 | $19,176,592 |
Shares issued to shareholders in reinvestment of distributions | 2,370,271 | 27,115,902 |
Shares redeemed | (2,853,242) | (32,913,349) |
Net increase (decrease) | 1,263,488 | $13,379,145 |
Year ended October 31, 2021: | ||
Shares sold | 2,449,422 | $30,606,721 |
Shares issued to shareholders in reinvestment of distributions | 534,450 | 6,119,453 |
Shares redeemed | (4,703,242) | (59,789,772) |
Net increase (decrease) | (1,719,370) | $(23,063,598) |
Class R3 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 486,136 | $4,664,179 |
Shares issued to shareholders in reinvestment of distributions | 1,354,080 | 13,919,944 |
Shares redeemed | (618,257) | (6,334,691) |
Net increase (decrease) | 1,221,959 | $12,249,432 |
Year ended October 31, 2021: | ||
Shares sold | 750,705 | $8,643,290 |
Shares issued to shareholders in reinvestment of distributions | 317,889 | 3,356,909 |
Shares redeemed | (1,971,759) | (22,966,019) |
Net increase (decrease) in shares outstanding before conversion | (903,165) | (10,965,820) |
Shares converted from Class R3 (See Note 1) | (13,150) | (161,745) |
Net increase (decrease) | (916,315) | $(11,127,565) |
Class R6 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 30,316,721 | $394,866,568 |
Shares issued to shareholders in reinvestment of distributions | 64,620,416 | 871,083,204 |
Shares redeemed | (32,454,767) | (407,907,462) |
Net increase (decrease) | 62,482,370 | $858,042,310 |
Year ended October 31, 2021: | ||
Shares sold | 52,726,279 | $759,200,686 |
Shares issued to shareholders in reinvestment of distributions | 15,650,584 | 203,301,080 |
Shares redeemed | (105,667,940) | (1,542,745,590) |
Net increase (decrease) | (37,291,077) | $(580,243,824) |
SIMPLE Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 14,668 | $143,106 |
Shares issued to shareholders in reinvestment of distributions | 1,475 | 16,490 |
Shares redeemed | (73) | (821) |
Net increase (decrease) | 16,070 | $158,775 |
Year ended October 31, 2021: | ||
Shares sold | 3,503 | $42,509 |
Shares issued to shareholders in reinvestment of distributions | 121 | 1,359 |
Shares redeemed | (916) | (10,719) |
Net increase (decrease) in shares outstanding before conversion | 2,708 | 33,149 |
Shares converted into SIMPLE Class (See Note 1) | 63 | 719 |
Net increase (decrease) | 2,771 | $33,868 |
32 | MainStay Winslow Large Cap Growth Fund |
34 | MainStay Winslow Large Cap Growth Fund |
36 | MainStay Winslow Large Cap Growth Fund |
38 | MainStay Winslow Large Cap Growth Fund |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date1 | Six Months2 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio3 | |
Class A Shares | Maximum 5.5% Initial Sales Charge | With sales charges | 6/1/1998 | -13.53% | -3.35% | 11.77% | 12.57% | 0.91% |
Excluding sales charges | -8.50 | 2.27 | 13.04 | 13.21 | 0.91 | |||
Investor Class Shares4 | Maximum 5% Initial Sales Charge | With sales charges | 2/28/2008 | -13.15 | -3.04 | 11.48 | 12.25 | 1.17 |
Excluding sales charges | -8.58 | 2.06 | 12.75 | 12.89 | 1.17 | |||
Class B Shares5 | Maximum 5% CDSC | With sales charges | 6/1/1998 | -13.05 | -3.28 | 11.65 | 12.05 | 1.92 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -8.92 | 1.32 | 11.91 | 12.05 | 1.92 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/1/1998 | -9.75 | 0.36 | 11.90 | 12.04 | 1.92 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -8.93 | 1.28 | 11.90 | 12.04 | 1.92 | ||
Class I Shares | No Sales Charge | 12/28/2004 | -8.36 | 2.57 | 13.33 | 13.50 | 0.66 | |
Class R3 Shares | No Sales Charge | 2/29/2016 | -8.66 | 1.92 | 12.64 | 13.64 | 1.26 | |
Class R6 Shares | No Sales Charge | 4/26/2021 | -8.36 | 2.56 | N/A | 2.48 | 0.61 |
1. | Effective March 5, 2021, the Fund replaced its subadvisor and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Fund's prior subadvisor and principal investment strategies. |
2. | Not annualized. |
3. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
4. | Prior to June 30, 2020, the maximum initial sales charge was 5.5%, which is reflected in the applicable average annual total return figures shown. |
5. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
S&P 500® Index2 | -9.65% | 0.21% | 13.66% | 13.67% |
Russell 3000® Index3 | -11.75 | -3.11 | 13.01 | 13.29 |
Morningstar Large Blend Category Average4 | -9.90 | -1.94 | 11.46 | 11.54 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The S&P 500® Index is the Fund's primary benchmark. S&P 500® is a trademark of The McGraw-Hill Companies, Inc. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Russell 3000® Index is the Fund's secondary benchmark. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the portfolios' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay WMC Enduring Capital Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $915.00 | $4.42 | $1,020.18 | $4.66 | 0.93% |
Investor Class Shares | $1,000.00 | $914.20 | $5.22 | $1,019.34 | $5.51 | 1.10% |
Class B Shares | $1,000.00 | $910.80 | $8.76 | $1,015.62 | $9.25 | 1.85% |
Class C Shares | $1,000.00 | $910.70 | $8.76 | $1,015.62 | $9.25 | 1.85% |
Class I Shares | $1,000.00 | $916.40 | $3.23 | $1,021.42 | $3.41 | 0.68% |
Class R3 Shares | $1,000.00 | $913.40 | $6.07 | $1,018.45 | $6.41 | 1.28% |
Class R6 Shares | $1,000.00 | $916.40 | $2.95 | $1,021.72 | $3.11 | 0.62% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Industry Composition as of April 30, 2022 (Unaudited)
Machinery | 11.8% |
Commercial Services & Supplies | 10.2 |
Insurance | 8.0 |
Chemicals | 7.2 |
Road & Rail | 6.8 |
Equity Real Estate Investment Trusts | 6.5 |
Capital Markets | 6.5 |
Banks | 6.3 |
Software | 4.4 |
Diversified Financial Services | 4.1 |
Food & Staples Retailing | 3.9 |
Health Care Providers & Services | 3.8 |
Life Sciences Tools & Services | 3.3% |
Household Durables | 3.1 |
Air Freight & Logistics | 3.0 |
Containers & Packaging | 2.9 |
Trading Companies & Distributors | 2.8 |
Electric Utilities | 2.8 |
Media | 2.5 |
Short–Term Investment | 0.2 |
Other Assets, Less Liabilities | –0.1 |
100.0% |
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | Constellation Software, Inc. |
2. | Waste Connections, Inc. |
3. | Berkshire Hathaway, Inc., Class B |
4. | Markel Corp. |
5. | Progressive Corp. (The) |
6. | Costco Wholesale Corp. |
7. | UnitedHealth Group, Inc. |
8. | Linde plc |
9. | M&T Bank Corp. |
10. | Sherwin-Williams Co. (The) |
8 | MainStay WMC Enduring Capital Fund |
Shares | Value | |
Common Stocks 99.9% | ||
Air Freight & Logistics 3.0% | ||
Expeditors International of Washington, Inc. | 167,741 | $ 16,618,101 |
Banks 6.3% | ||
First Republic Bank | 99,911 | 14,908,719 |
M&T Bank Corp. | 121,045 | 20,170,939 |
35,079,658 | ||
Capital Markets 6.5% | ||
Brookfield Asset Management, Inc., Class A | 373,032 | 18,599,375 |
Charles Schwab Corp. (The) | 263,021 | 17,446,183 |
36,045,558 | ||
Chemicals 7.2% | ||
Linde plc | 65,632 | 20,474,559 |
Sherwin-Williams Co. (The) | 70,167 | 19,293,118 |
39,767,677 | ||
Commercial Services & Supplies 10.2% | ||
Cintas Corp. | 42,762 | 16,987,632 |
Copart, Inc. (a) | 145,944 | 16,586,536 |
Waste Connections, Inc. | 167,186 | 23,066,653 |
56,640,821 | ||
Containers & Packaging 2.9% | ||
Ball Corp. | 199,910 | 16,224,696 |
Diversified Financial Services 4.1% | ||
Berkshire Hathaway, Inc., Class B (a) | 69,620 | 22,475,425 |
Electric Utilities 2.8% | ||
NextEra Energy, Inc. | 220,097 | 15,631,289 |
Equity Real Estate Investment Trusts 6.5% | ||
American Tower Corp. | 73,741 | 17,773,056 |
Public Storage | 49,409 | 18,355,443 |
36,128,499 | ||
Food & Staples Retailing 3.9% | ||
Costco Wholesale Corp. | 40,632 | 21,604,847 |
Health Care Providers & Services 3.8% | ||
UnitedHealth Group, Inc. | 41,344 | 21,025,491 |
Household Durables 3.1% | ||
NVR, Inc. (a) | 3,897 | 17,054,090 |
Shares | Value | |
Insurance 8.0% | ||
Brookfield Asset Management Reinsurance Partners Ltd., Class A | 3,730 | $ 187,097 |
Markel Corp. (a) | 16,464 | 22,280,402 |
Progressive Corp. (The) | 204,587 | 21,964,460 |
44,431,959 | ||
Life Sciences Tools & Services 3.3% | ||
Danaher Corp. | 73,744 | 18,519,331 |
Machinery 11.8% | ||
Deere & Co. | 43,428 | 16,396,242 |
Fortive Corp. | 238,502 | 13,713,865 |
IDEX Corp. | 87,977 | 16,699,794 |
PACCAR, Inc. | 224,923 | 18,679,855 |
65,489,756 | ||
Media 2.5% | ||
Cable One, Inc. | 11,675 | 13,615,385 |
Road & Rail 6.8% | ||
Canadian National Railway Co. | 162,457 | 19,105,596 |
Old Dominion Freight Line, Inc. | 67,452 | 18,894,654 |
38,000,250 | ||
Software 4.4% | ||
Constellation Software, Inc. | 15,333 | 24,132,123 |
Trading Companies & Distributors 2.8% | ||
Watsco, Inc. | 59,155 | 15,781,371 |
Total Common Stocks (Cost $503,140,094) | 554,266,327 | |
Short-Term Investment 0.2% | ||
Affiliated Investment Company 0.2% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (b) | 1,173,689 | 1,173,689 |
Total Short-Term Investment (Cost $1,173,689) | 1,173,689 | |
Total Investments (Cost $504,313,783) | 100.1% | 555,440,016 |
Other Assets, Less Liabilities | (0.1) | (448,726) |
Net Assets | 100.0% | $ 554,991,290 |
† | Percentages indicated are based on Fund net assets. |
(a) | Non-income producing security. |
(b) | Current yield as of April 30, 2022. |
10 | MainStay WMC Enduring Capital Fund |
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 2,386 | $ 33,649 | $ (34,861) | $ — | $ — | $ 1,174 | $ —(a) | $ — | 1,174 |
(a) | Less than $500. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Common Stocks | $ 554,266,327 | $ — | $ — | $ 554,266,327 |
Short-Term Investment | ||||
Affiliated Investment Company | 1,173,689 | — | — | 1,173,689 |
Total Investments in Securities | $ 555,440,016 | $ — | $ — | $ 555,440,016 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $503,140,094) | $554,266,327 |
Investment in affiliated investment companies, at value (identified cost $1,173,689) | 1,173,689 |
Receivables: | |
Fund shares sold | 338,800 |
Dividends | 112,929 |
Other assets | 93,692 |
Total assets | 555,985,437 |
Liabilities | |
Due to custodian | 111,970 |
Payables: | |
Manager (See Note 3) | 268,234 |
Investment securities purchased | 173,228 |
Fund shares redeemed | 154,976 |
Transfer agent (See Note 3) | 92,315 |
NYLIFE Distributors (See Note 3) | 78,154 |
Professional fees | 29,664 |
Shareholder communication | 29,127 |
Custodian | 15,200 |
Trustees | 6,882 |
Securities lending | 32 |
Accrued expenses | 34,365 |
Total liabilities | 994,147 |
Net assets | $554,991,290 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $180,731 |
Additional paid-in-capital | 488,333,504 |
488,514,235 | |
Total distributable earnings (loss) | 66,477,055 |
Net assets | $554,991,290 |
Class A | |
Net assets applicable to outstanding shares | $202,260,970 |
Shares of beneficial interest outstanding | 6,558,192 |
Net asset value per share outstanding | $30.84 |
Maximum sales charge (5.50% of offering price) | 1.79 |
Maximum offering price per share outstanding | $32.63 |
Investor Class | |
Net assets applicable to outstanding shares | $24,255,113 |
Shares of beneficial interest outstanding | 786,928 |
Net asset value per share outstanding | $30.82 |
Maximum sales charge (5.00% of offering price) | 1.62 |
Maximum offering price per share outstanding | $32.44 |
Class B | |
Net assets applicable to outstanding shares | $3,783,002 |
Shares of beneficial interest outstanding | 138,737 |
Net asset value and offering price per share outstanding | $27.27 |
Class C | |
Net assets applicable to outstanding shares | $28,151,989 |
Shares of beneficial interest outstanding | 1,033,387 |
Net asset value and offering price per share outstanding | $27.24 |
Class I | |
Net assets applicable to outstanding shares | $70,999,304 |
Shares of beneficial interest outstanding | 2,287,338 |
Net asset value and offering price per share outstanding | $31.04 |
Class R3 | |
Net assets applicable to outstanding shares | $392,582 |
Shares of beneficial interest outstanding | 12,834 |
Net asset value and offering price per share outstanding | $30.59 |
Class R6 | |
Net assets applicable to outstanding shares | $225,148,330 |
Shares of beneficial interest outstanding | 7,255,657 |
Net asset value and offering price per share outstanding | $31.03 |
12 | MainStay WMC Enduring Capital Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated (net of foreign tax withholding of $58,757) | $3,649,647 |
Securities lending | 1,727 |
Dividends-affiliated | 159 |
Other | 13 |
Total income | 3,651,546 |
Expenses | |
Manager (See Note 3) | 1,744,343 |
Distribution/Service—Class A (See Note 3) | 277,691 |
Distribution/Service—Investor Class (See Note 3) | 33,767 |
Distribution/Service—Class B (See Note 3) | 22,457 |
Distribution/Service—Class C (See Note 3) | 165,403 |
Distribution/Service—Class R3 (See Note 3) | 1,124 |
Transfer agent (See Note 3) | 196,785 |
Registration | 73,360 |
Professional fees | 68,941 |
Shareholder communication | 46,573 |
Custodian | 13,752 |
Trustees | 3,124 |
Shareholder service (See Note 3) | 225 |
Miscellaneous | 10,333 |
Total expenses | 2,657,878 |
Net investment income (loss) | 993,668 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | 14,524,359 |
Foreign currency transactions | (2,249) |
Foreign currency forward transactions | 781 |
Net realized gain (loss) | 14,522,891 |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (67,893,112) |
Net realized and unrealized gain (loss) | (53,370,221) |
Net increase (decrease) in net assets resulting from operations | $(52,376,553) |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $993,668 | $1,208,594 |
Net realized gain (loss) | 14,522,891 | 73,433,638 |
Net change in unrealized appreciation (depreciation) | (67,893,112) | 47,720,538 |
Net increase (decrease) in net assets resulting from operations | (52,376,553) | 122,362,770 |
Distributions to shareholders: | ||
Class A | (19,185,374) | (592,297) |
Investor Class | (2,404,448) | (96,995) |
Class B | (453,565) | — |
Class C | (3,325,977) | — |
Class I | (10,230,592) | (399,948) |
Class R3 | (40,016) | (1,131) |
Class R6 | (22,407,486) | — |
Total distributions to shareholders | (58,047,458) | (1,090,371) |
Capital share transactions: | ||
Net proceeds from sales of shares | 55,575,486 | 70,930,228 |
Net asset value of shares issued in connection with the acquisition of MainStay Epoch U.S. All Cap Fund | — | 485,242,709 |
Net asset value of shares issued in connection with the acquisition of MainStay MacKay U.S. Equity Opportunities Fund | — | 147,554,277 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 57,355,354 | 1,063,805 |
Cost of shares redeemed | (146,290,128) | (253,450,057) |
Increase (decrease) in net assets derived from capital share transactions | (33,359,288) | 451,340,962 |
Net increase (decrease) in net assets | (143,783,299) | 572,613,361 |
Net Assets | ||
Beginning of period | 698,774,589 | 126,161,228 |
End of period | $554,991,290 | $698,774,589 |
14 | MainStay WMC Enduring Capital Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $36.76 | $24.95 | $24.92 | $26.31 | $24.56 | $19.95 |
Net investment income (loss) (a) | 0.03 | 0.06 | 0.16 | 0.26 | 0.24 | 0.23 |
Net realized and unrealized gain (loss) | (2.88) | 11.99 | 1.36 | 1.28 | 1.74 | 4.63 |
Total from investment operations | (2.85) | 12.05 | 1.52 | 1.54 | 1.98 | 4.86 |
Less distributions: | ||||||
From net investment income | (0.04) | (0.24) | (0.27) | (0.22) | (0.23) | (0.25) |
From net realized gain on investments | (3.03) | — | (1.22) | (2.71) | — | — |
Total distributions | (3.07) | (0.24) | (1.49) | (2.93) | (0.23) | (0.25) |
Net asset value at end of period | $30.84 | $36.76 | $24.95 | $24.92 | $26.31 | $24.56 |
Total investment return (b) | (8.50)% | 48.53% | 6.42% | 6.80% | 8.07% | 24.59% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.20%†† | 0.19% | 0.64% | 1.08% | 0.90% | 1.05% |
Net expenses (c) | 0.93%†† | 0.91% | 0.99% | 0.97% | 0.97% | 0.96% |
Portfolio turnover rate | 0.00%‡ | 24% | 166% | 164% | 137% | 134% |
Net assets at end of period (in 000’s) | $202,261 | $228,700 | $62,611 | $63,814 | $63,956 | $53,909 |
* | Unaudited. |
‡ | Less than one-tenth of a percent. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $36.73 | $24.92 | $24.90 | $26.29 | $24.53 | $19.93 |
Net investment income (loss) (a) | 0.01 | (0.01) | 0.08 | 0.20 | 0.18 | 0.18 |
Net realized and unrealized gain (loss) | (2.89) | 11.98 | 1.37 | 1.27 | 1.74 | 4.62 |
Total from investment operations | (2.88) | 11.97 | 1.45 | 1.47 | 1.92 | 4.80 |
Less distributions: | ||||||
From net investment income | — | (0.16) | (0.21) | (0.15) | (0.16) | (0.20) |
From net realized gain on investments | (3.03) | — | (1.22) | (2.71) | — | — |
Total distributions | (3.03) | (0.16) | (1.43) | (2.86) | (0.16) | (0.20) |
Net asset value at end of period | $30.82 | $36.73 | $24.92 | $24.90 | $26.29 | $24.53 |
Total investment return (b) | (8.58)% | 48.22% | 6.05% | 6.51% | 7.82% | 24.25% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.04%†† | (0.02)% | 0.35% | 0.82% | 0.68% | 0.83% |
Net expenses (c) | 1.10%†† | 1.19% | 1.30% | 1.23% | 1.21% | 1.22% |
Expenses (before waiver/reimbursement) (c) | 1.10%†† | 1.19% | 1.31% | 1.27% | 1.23% | 1.22% |
Portfolio turnover rate | 0.00%‡ | 24% | 166% | 164% | 137% | 134% |
Net assets at end of period (in 000's) | $24,255 | $29,293 | $15,544 | $17,203 | $16,580 | $17,216 |
* | Unaudited. |
‡ | Less than one-tenth of a percent. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $32.96 | $22.40 | $22.50 | $24.04 | $22.46 | $18.25 |
Net investment income (loss) (a) | (0.11) | (0.22) | (0.08) | 0.02 | (0.02) | 0.01 |
Net realized and unrealized gain (loss) | (2.55) | 10.78 | 1.22 | 1.15 | 1.60 | 4.24 |
Total from investment operations | (2.66) | 10.56 | 1.14 | 1.17 | 1.58 | 4.25 |
Less distributions: | ||||||
From net investment income | — | — | (0.02) | — | — | (0.04) |
From net realized gain on investments | (3.03) | — | (1.22) | (2.71) | — | — |
Total distributions | (3.03) | — | (1.24) | (2.71) | — | (0.04) |
Net asset value at end of period | $27.27 | $32.96 | $22.40 | $22.50 | $24.04 | $22.46 |
Total investment return (b) | (8.92)% | 47.14%(c) | 5.28% | 5.71% | 7.03% | 23.31% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.71)%†† | (0.77)% | (0.39)% | 0.10% | (0.07)% | 0.06% |
Net expenses (d) | 1.85%†† | 1.95% | 2.05% | 1.98% | 1.96% | 1.97% |
Expenses (before waiver/reimbursement) (d) | 1.85%†† | 1.95% | 2.06% | 2.02% | 1.98% | 1.97% |
Portfolio turnover rate | 0.00%‡ | 24% | 166% | 164% | 137% | 134% |
Net assets at end of period (in 000’s) | $3,783 | $5,007 | $3,666 | $4,718 | $5,855 | $6,635 |
* | Unaudited. |
‡ | Less than one-tenth of a percent. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | Total investment return may reflect adjustments to conform to generally accepted accounting principles. |
(d) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
16 | MainStay WMC Enduring Capital Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $32.93 | $22.38 | $22.48 | $24.02 | $22.45 | $18.24 |
Net investment income (loss) (a) | (0.11) | (0.24) | (0.08) | 0.02 | (0.02) | 0.01 |
Net realized and unrealized gain (loss) | (2.55) | 10.79 | 1.22 | 1.15 | 1.59 | 4.24 |
Total from investment operations | (2.66) | 10.55 | 1.14 | 1.17 | 1.57 | 4.25 |
Less distributions: | ||||||
From net investment income | — | — | (0.02) | — | — | (0.04) |
From net realized gain on investments | (3.03) | — | (1.22) | (2.71) | — | — |
Total distributions | (3.03) | — | (1.24) | (2.71) | — | (0.04) |
Net asset value at end of period | $27.24 | $32.93 | $22.38 | $22.48 | $24.02 | $22.45 |
Total investment return (b) | (8.93)% | 47.14%(c) | 5.29% | 5.72% | 6.99% | 23.33% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.71)%†† | (0.80)% | (0.38)% | 0.10% | (0.08)% | 0.06% |
Net expenses (d) | 1.85%†† | 1.89% | 2.05% | 1.98% | 1.96% | 1.97% |
Expenses (before waiver/reimbursement) (d) | 1.85%†† | 1.89% | 2.06% | 2.02% | 1.98% | 1.97% |
Portfolio turnover rate | 0.00%‡ | 24% | 166% | 164% | 137% | 134% |
Net assets at end of period (in 000’s) | $28,152 | $37,234 | $6,641 | $10,946 | $14,964 | $15,459 |
* | Unaudited. |
‡ | Less than one-tenth of a percent. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | Total investment return may reflect adjustments to conform to generally accepted accounting principles. |
(d) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $36.99 | $25.09 | $25.05 | $26.44 | $24.67 | $20.04 |
Net investment income (loss) (a) | 0.08 | 0.16 | 0.23 | 0.32 | 0.31 | 0.29 |
Net realized and unrealized gain (loss) | (2.90) | 12.03 | 1.37 | 1.28 | 1.74 | 4.65 |
Total from investment operations | (2.82) | 12.19 | 1.60 | 1.60 | 2.05 | 4.94 |
Less distributions: | ||||||
From net investment income | (0.10) | (0.29) | (0.34) | (0.28) | (0.28) | (0.31) |
From net realized gain on investments | (3.03) | — | (1.22) | (2.71) | — | — |
Total distributions | (3.13) | (0.29) | (1.56) | (2.99) | (0.28) | (0.31) |
Net asset value at end of period | $31.04 | $36.99 | $25.09 | $25.05 | $26.44 | $24.67 |
Total investment return (b) | (8.36)% | 48.97% | 6.66% | 7.06% | 8.36% | 24.89% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.49%†† | 0.48% | 0.96% | 1.34% | 1.16% | 1.31% |
Net expenses (c) | 0.68%†† | 0.66% | 0.74% | 0.72% | 0.71% | 0.71% |
Portfolio turnover rate | 0.00%‡ | 24% | 166% | 164% | 137% | 134% |
Net assets at end of period (in 000’s) | $70,999 | $135,219 | $37,491 | $97,903 | $98,395 | $96,441 |
* | Unaudited. |
‡ | Less than one-tenth of a percent. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R3 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $36.51 | $24.78 | $24.77 | $26.17 | $24.48 | $19.90 |
Net investment income (loss) (a) | (0.02) | (0.04) | 0.07 | 0.17 | 0.14 | 0.13 |
Net realized and unrealized gain (loss) | (2.87) | 11.91 | 1.36 | 1.28 | 1.73 | 4.65 |
Total from investment operations | (2.89) | 11.87 | 1.43 | 1.45 | 1.87 | 4.78 |
Less distributions: | ||||||
From net investment income | — | (0.14) | (0.20) | (0.14) | (0.18) | (0.20) |
From net realized gain on investments | (3.03) | — | (1.22) | (2.71) | — | — |
Total distributions | (3.03) | (0.14) | (1.42) | (2.85) | (0.18) | (0.20) |
Net asset value at end of period | $30.59 | $36.51 | $24.78 | $24.77 | $26.17 | $24.48 |
Total investment return (b) | (8.66)% | 48.07% | 6.02% | 6.42% | 7.66% | 24.17% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | (0.14)%†† | (0.13)% | 0.30% | 0.70% | 0.52% | 0.60% |
Net expenses (c) | 1.28%†† | 1.28% | 1.34% | 1.32% | 1.32% | 1.31% |
Portfolio turnover rate | 0.00%‡ | 24% | 166% | 164% | 137% | 134% |
Net assets at end of period (in 000’s) | $393 | $479 | $207 | $227 | $137 | $86 |
* | Unaudited. |
‡ | Less than one-tenth of a percent. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
18 | MainStay WMC Enduring Capital Fund |
Six months ended April 30, 2022* | April 26, 2021^ through October 31, | |
Class R6 | 2021 | |
Net asset value at beginning of period | $37.00 | $33.07 |
Net investment income (loss) (a) | 0.09 | 0.14 |
Net realized and unrealized gain (loss) | (2.91) | 3.79 |
Total from investment operations | (2.82) | 3.93 |
Less distributions: | ||
From net investment income | (0.12) | — |
From net realized gain on investments | (3.03) | — |
Total distributions | (3.15) | — |
Net asset value at end of period | $31.03 | $37.00 |
Total investment return (b) | (8.36)% | 11.88% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss)†† | 0.52% | 0.44% |
Net expenses††(c) | 0.62% | 0.60% |
Portfolio turnover rate | 0.00%‡ | 24% |
Net assets at end of period (in 000’s) | $225,148 | $262,843 |
* | Unaudited. |
^ | Inception date. |
‡ | Less than one-tenth of a percent. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Class | Commenced Operations |
Class A | June 1, 1998 |
Investor Class | February 28, 2008 |
Class B | June 1, 1998 |
Class C | September 1, 1998 |
Class I | December 28, 2004 |
Class R3 | February 29, 2016 |
Class R6 | April 26, 2021 |
Class R2 | N/A* |
SIMPLE Class | N/A* |
* | Class R2 and SIMPLE Class shares were registered for sale effective as of December 14, 2007 and August 31, 2020, respectively, but have not yet commenced operations. |
20 | MainStay WMC Enduring Capital Fund |
• Broker/dealer quotes | • Benchmark securities |
• Two-sided markets | • Reference data (corporate actions or material event notices) |
• Bids/offers | • Monthly payment information |
• Industry and economic events | • Reported trades |
22 | MainStay WMC Enduring Capital Fund |
24 | MainStay WMC Enduring Capital Fund |
Class R3 | $225 |
Class | Expense | Waived |
Class A | $77,743 | $— |
Investor Class | 32,781 | — |
Class B | 5,457 | — |
Class C | 40,166 | — |
Class I | 35,425 | — |
Class R3 | 158 | — |
Class R6 | 5,055 | — |
Class R3 | $55,029 | 14.0% |
Class R6 | 38,878 | 0.0‡ |
‡ | Less than one-tenth of a percent. |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $504,331,349 | $71,918,397 | $(20,809,730) | $51,108,667 |
2021 | |
Distributions paid from: | |
Ordinary Income | $1,090,371 |
26 | MainStay WMC Enduring Capital Fund |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 580,028 | $19,587,422 |
Shares issued to shareholders in reinvestment of distributions | 549,149 | 18,594,184 |
Shares redeemed | (884,207) | (28,985,801) |
Net increase (decrease) in shares outstanding before conversion | 244,970 | 9,195,805 |
Shares converted into Class A (See Note 1) | 91,887 | 3,152,589 |
Net increase (decrease) | 336,857 | $12,348,394 |
Year ended October 31, 2021: | ||
Shares sold | 629,407 | $20,661,799 |
issued in connection with the acquisition of MainStay Epoch U.S. All Cap Fund | 1,545,799 | 50,867,461 |
issued in connection with the acquisition of MainStay MacKay U.S. Equity Opportunities Fund | 1,903,874 | 62,650,579 |
Shares issued to shareholders in reinvestment of distributions | 20,437 | 567,749 |
Shares redeemed | (718,791) | (23,585,068) |
Net increase (decrease) in shares outstanding before conversion | 3,380,726 | 111,162,520 |
Shares converted into Class A (See Note 1) | 331,330 | 10,668,239 |
Shares converted from Class A (See Note 1) | (98) | (2,684) |
Net increase (decrease) | 3,711,958 | $121,828,075 |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 22,015 | $741,901 |
Shares issued to shareholders in reinvestment of distributions | 70,920 | 2,401,347 |
Shares redeemed | (34,182) | (1,151,858) |
Net increase (decrease) in shares outstanding before conversion | 58,753 | 1,991,390 |
Shares converted into Investor Class (See Note 1) | 9,133 | 299,081 |
Shares converted from Investor Class (See Note 1) | (78,517) | (2,701,412) |
Net increase (decrease) | (10,631) | $(410,941) |
Year ended October 31, 2021: | ||
Shares sold | 42,505 | $1,372,487 |
issued in connection with the acquisition of MainStay Epoch U.S. All Cap Fund | 319,550 | 10,519,323 |
issued in connection with the acquisition of MainStay MacKay U.S. Equity Opportunities Fund | 145,980 | 4,805,532 |
Shares issued to shareholders in reinvestment of distributions | 3,475 | 96,668 |
Shares redeemed | (62,442) | (1,996,602) |
Net increase (decrease) in shares outstanding before conversion | 449,068 | 14,797,408 |
Shares converted into Investor Class (See Note 1) | 18,310 | 582,017 |
Shares converted from Investor Class (See Note 1) | (293,620) | (9,430,654) |
Net increase (decrease) | 173,758 | $5,948,771 |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 1,302 | $38,462 |
Shares issued to shareholders in reinvestment of distributions | 14,748 | 443,192 |
Shares redeemed | (12,281) | (367,950) |
Net increase (decrease) in shares outstanding before conversion | 3,769 | 113,704 |
Shares converted from Class B (See Note 1) | (16,932) | (500,799) |
Net increase (decrease) | (13,163) | $(387,095) |
Year ended October 31, 2021: | ||
Shares sold | 2,818 | $77,793 |
issued in connection with the acquisition of MainStay Epoch U.S. All Cap Fund | 56,787 | 1,683,892 |
Shares redeemed | (34,885) | (1,022,198) |
Net increase (decrease) in shares outstanding before conversion | 24,720 | 739,487 |
Shares converted from Class B (See Note 1) | (36,451) | (1,053,903) |
Net increase (decrease) | (11,731) | $(314,416) |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 13,128 | $390,669 |
Shares issued to shareholders in reinvestment of distributions | 108,949 | 3,270,638 |
Shares redeemed | (210,943) | (6,357,858) |
Net increase (decrease) in shares outstanding before conversion | (88,866) | (2,696,551) |
Shares converted from Class C (See Note 1) | (8,477) | (249,459) |
Net increase (decrease) | (97,343) | $(2,946,010) |
Year ended October 31, 2021: | ||
Shares sold | 16,835 | $458,023 |
issued in connection with the acquisition of MainStay Epoch U.S. All Cap Fund | 69,442 | 2,057,308 |
issued in connection with the acquisition of MainStay MacKay U.S. Equity Opportunities Fund | 1,092,350 | 32,362,061 |
Shares redeemed | (318,984) | (9,452,874) |
Net increase (decrease) in shares outstanding before conversion | 859,643 | 25,424,518 |
Shares converted from Class C (See Note 1) | (25,621) | (763,015) |
Net increase (decrease) | 834,022 | $24,661,503 |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 533,219 | $18,601,393 |
Shares issued to shareholders in reinvestment of distributions | 299,886 | 10,205,117 |
Shares redeemed | (2,201,192) | (76,056,327) |
Net increase (decrease) | (1,368,087) | $(47,249,817) |
Year ended October 31, 2021: | ||
Shares sold | 1,135,325 | $35,962,374 |
issued in connection with the acquisition of MainStay Epoch U.S. All Cap Fund | 3,846,331 | 127,191,639 |
issued in connection with the acquisition of MainStay MacKay U.S. Equity Opportunities Fund | 1,443,561 | 47,736,105 |
Shares issued to shareholders in reinvestment of distributions | 14,290 | 398,556 |
Shares redeemed | (3,390,505) | (113,090,422) |
Net increase (decrease) in shares outstanding before conversion | 3,049,002 | 98,198,252 |
Shares converted from Class I (See Note 1) | (887,869) | (29,360,331) |
Net increase (decrease) | 2,161,133 | $68,837,921 |
Class R3 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 790 | $26,378 |
Shares issued to shareholders in reinvestment of distributions | 993 | 33,389 |
Shares redeemed | (2,079) | (66,908) |
Net increase (decrease) | (296) | $(7,141) |
Year ended October 31, 2021: | ||
Shares sold | 6,288 | $208,023 |
Shares issued to shareholders in reinvestment of distributions | 30 | 832 |
Shares redeemed | (1,534) | (48,435) |
Net increase (decrease) | 4,784 | $160,420 |
Class R6 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 484,690 | $16,189,261 |
Shares issued to shareholders in reinvestment of distributions | 658,656 | 22,407,487 |
Shares redeemed | (991,923) | (33,303,426) |
Net increase (decrease) | 151,423 | $5,293,322 |
Year ended October 31, 2021:(a) | ||
Shares sold | 332,147 | $12,189,729 |
issued in connection with the acquisition of MainStay Epoch U.S. All Cap Fund | 8,858,124 | 292,923,086 |
Shares redeemed | (2,973,906) | (104,254,458) |
Net increase (decrease) in shares outstanding before conversion | 6,216,365 | 200,858,357 |
Shares converted into Class R6 (See Note 1) | 887,869 | 29,360,331 |
Net increase (decrease) | 7,104,234 | $230,218,688 |
(a) | The inception of the class was April 26, 2021. |
28 | MainStay WMC Enduring Capital Fund |
Fund | Proceeds | Cost Basis |
MainStay WMC Enduring Capital Fund | $797,198 | $773,884 |
30 | MainStay WMC Enduring Capital Fund |
32 | MainStay WMC Enduring Capital Fund |
34 | MainStay WMC Enduring Capital Fund |
36 | MainStay WMC Enduring Capital Fund |
For more information
Message from the President and Semiannual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about The MainStay Funds' Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Period-Ended April 30, 2022 | ||||||||
Class | Sales Charge | Inception Date1 | Six Months2 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio3 | |
Class A Shares | Maximum 5.5% Initial Sales Charge | With sales charges | 6/9/1999 | -7.60% | -2.11% | 12.07% | 11.59% | 1.02% |
Excluding sales charges | -2.23 | 3.59 | 13.34 | 12.22 | 1.02 | |||
Investor Class Shares4 | Maximum 5% Initial Sales Charge | With sales charges | 2/28/2008 | -7.24 | -1.86 | 11.79 | 11.35 | 1.32 |
Excluding sales charges | -2.36 | 3.30 | 13.06 | 11.98 | 1.32 | |||
Class B Shares5 | Maximum 5% CDSC | With sales charges | 6/9/1999 | -4.94 | 0.22 | 12.07 | 11.14 | 2.07 |
if Redeemed Within the First Six Years of Purchase | Excluding sales charges | -2.76 | 2.52 | 12.21 | 11.14 | 2.07 | ||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/9/1999 | -3.19 | 2.06 | 12.21 | 11.14 | 2.07 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -2.76 | 2.52 | 12.21 | 11.14 | 2.07 | ||
Class I Shares | No Sales Charge | 1/21/1971 | -2.08 | 3.93 | 13.64 | 12.51 | 0.77 | |
Class R1 Shares | No Sales Charge | 1/2/2004 | -2.16 | 3.75 | 13.51 | 12.38 | 0.87 | |
Class R2 Shares | No Sales Charge | 1/2/2004 | -2.28 | 3.49 | 13.23 | 12.11 | 1.12 | |
Class R3 Shares | No Sales Charge | 4/28/2006 | -2.41 | 3.24 | 12.95 | 11.83 | 1.37 | |
Class R6 Shares | No Sales Charge | 4/26/2021 | -2.08 | 3.93 | N/A | 4.41 | 0.72 |
1. | Effective April 26, 2021, the Fund replaced its subadvisors, changed its investment objective and modified its principal investment strategies. Therefore, the performance information shown in this report prior to April 26, 2021 reflects that of the Fund’s prior subadvisors, investment objective and principal investment strategies. |
2. | Not annualized. |
3. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
4. | Prior to June 30, 2020, the maximum initial sales charge was 5.5%, which is reflected in the applicable average annual total return figures shown. |
5. | Class B shares are closed to all new purchases as well as additional investments by existing Class B shareholders. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
Russell 1000® Value Index2 | -3.94% | 1.32% | 9.06% | 11.17% |
Russell 3000® Index3 | -11.75 | -3.11 | 13.01 | 13.29 |
Morningstar Large Value Category Average4 | -2.33 | 3.08 | 9.33 | 10.37 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The Fund has selected the Russell 1000® Value Index as its primary benchmark as a replacement for the Russell 3000® Index because it believes that the Russell 1000® Value Index is more reflective of its principal investment strategies. The Russell 1000® Value Index measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® Index companies with lower price-to-book ratios and lower expected growth values. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | Prior to April 26, 2021, the Russell 3000® Index was the Fund's primary broad-based securities market index for comparison purposes. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Morningstar Large Value Category Average is representative of funds that invest primarily in big U.S. companies that are less expensive or growing more slowly than other large-cap stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay WMC Value Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $977.70 | $5.00 | $1,019.74 | $5.11 | 1.02% |
Investor Class Shares | $1,000.00 | $976.40 | $6.32 | $1,018.40 | $6.46 | 1.29% |
Class B Shares | $1,000.00 | $972.40 | $9.98 | $1,014.68 | $10.19 | 2.04% |
Class C Shares | $1,000.00 | $972.40 | $9.93 | $1,014.73 | $10.14 | 2.03% |
Class I Shares | $1,000.00 | $979.20 | $3.44 | $1,021.32 | $3.51 | 0.70% |
Class R1 Shares | $1,000.00 | $978.40 | $4.22 | $1,020.53 | $4.31 | 0.86% |
Class R2 Shares | $1,000.00 | $977.20 | $5.49 | $1,019.24 | $5.61 | 1.12% |
Class R3 Shares | $1,000.00 | $975.90 | $6.71 | $1,018.00 | $6.85 | 1.37% |
Class R6 Shares | $1,000.00 | $979.20 | $3.44 | $1,021.32 | $3.51 | 0.70% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Industry Composition as of April 30, 2022 (Unaudited)
Pharmaceuticals | 9.9% |
Health Care Providers & Services | 8.0 |
Banks | 7.1 |
Insurance | 6.8 |
Aerospace & Defense | 6.2 |
Oil, Gas & Consumable Fuels | 5.6 |
Capital Markets | 4.5 |
Health Care Equipment & Supplies | 4.2 |
Semiconductors & Semiconductor Equipment | 4.2 |
Equity Real Estate Investment Trusts | 3.9 |
Communications Equipment | 3.6 |
Specialty Retail | 3.2 |
Multi–Utilities | 3.1 |
Media | 3.1 |
Electric Utilities | 2.9 |
IT Services | 2.5 |
Building Products | 2.2 |
Interactive Media & Services | 1.9 |
Electronic Equipment, Instruments & Components | 1.7% |
Food Products | 1.5 |
Entertainment | 1.4 |
Beverages | 1.3 |
Auto Components | 1.3 |
Electrical Equipment | 1.2 |
Machinery | 1.2 |
Containers & Packaging | 1.0 |
Chemicals | 1.0 |
Real Estate Management & Development | 1.0 |
Road & Rail | 0.9 |
Household Durables | 0.8 |
Software | 0.7 |
Short–Term Investment | 2.1 |
Other Assets, Less Liabilities | 0.0‡ |
100.0% |
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | UnitedHealth Group, Inc. |
2. | Pfizer, Inc. |
3. | JPMorgan Chase & Co. |
4. | Anthem, Inc. |
5. | Cisco Systems, Inc. |
6. | ConocoPhillips |
7. | Merck & Co., Inc. |
8. | Eli Lilly and Co. |
9. | MetLife, Inc. |
10. | Comcast Corp., Class A |
8 | MainStay WMC Value Fund |
10 | MainStay WMC Value Fund |
Shares | Value | |
Common Stocks 97.9% | ||
Aerospace & Defense 6.2% | ||
General Dynamics Corp. | 66,318 | $ 15,686,197 |
L3Harris Technologies, Inc. | 71,605 | 16,630,977 |
Northrop Grumman Corp. | 32,176 | 14,138,134 |
Raytheon Technologies Corp. | 182,434 | 17,314,811 |
63,770,119 | ||
Auto Components 1.3% | ||
Gentex Corp. | 455,093 | 13,356,980 |
Banks 7.1% | ||
JPMorgan Chase & Co. | 243,411 | 29,053,537 |
M&T Bank Corp. | 116,551 | 19,422,058 |
PNC Financial Services Group, Inc. (The) | 75,711 | 12,575,597 |
Truist Financial Corp. | 247,665 | 11,974,603 |
73,025,795 | ||
Beverages 1.3% | ||
Keurig Dr Pepper, Inc. | 359,922 | 13,461,083 |
Building Products 2.2% | ||
Fortune Brands Home & Security, Inc. | 114,667 | 8,170,024 |
Johnson Controls International plc | 242,626 | 14,526,018 |
22,696,042 | ||
Capital Markets 4.5% | ||
Ares Management Corp. | 180,665 | 11,963,636 |
LPL Financial Holdings, Inc. | 75,148 | 14,118,055 |
Morgan Stanley | 252,565 | 20,354,213 |
46,435,904 | ||
Chemicals 1.0% | ||
Axalta Coating Systems Ltd. (a) | 392,597 | 9,960,186 |
Communications Equipment 3.6% | ||
Cisco Systems, Inc. | 513,459 | 25,149,222 |
F5, Inc. (a) | 72,418 | 12,123,497 |
37,272,719 | ||
Containers & Packaging 1.0% | ||
Sealed Air Corp. | 165,780 | 10,644,734 |
Electric Utilities 2.9% | ||
Duke Energy Corp. | 140,698 | 15,499,292 |
Exelon Corp. | 303,727 | 14,208,349 |
29,707,641 |
Shares | Value | |
Electrical Equipment 1.2% | ||
Hubbell, Inc. | 64,891 | $ 12,677,106 |
Electronic Equipment, Instruments & Components 1.7% | ||
Corning, Inc. | 491,360 | 17,290,958 |
Entertainment 1.4% | ||
Electronic Arts, Inc. | 117,933 | 13,921,991 |
Equity Real Estate Investment Trusts 3.9% | ||
Gaming and Leisure Properties, Inc. | 327,996 | 14,556,463 |
Host Hotels & Resorts, Inc. | 621,667 | 12,650,923 |
Welltower, Inc. | 137,718 | 12,506,172 |
39,713,558 | ||
Food Products 1.5% | ||
Mondelez International, Inc., Class A | 243,476 | 15,699,332 |
Health Care Equipment & Supplies 4.2% | ||
Becton Dickinson and Co. | 58,940 | 14,569,378 |
Boston Scientific Corp. (a) | 313,699 | 13,209,865 |
Medtronic plc | 150,972 | 15,755,438 |
43,534,681 | ||
Health Care Providers & Services 8.0% | ||
Anthem, Inc. | 51,916 | 26,058,198 |
Centene Corp. (a) | 213,017 | 17,158,519 |
UnitedHealth Group, Inc. | 77,074 | 39,195,984 |
82,412,701 | ||
Household Durables 0.8% | ||
Lennar Corp., Class A | 108,905 | 8,330,143 |
Insurance 6.8% | ||
Assurant, Inc. | 71,525 | 13,008,967 |
Chubb Ltd. | 101,230 | 20,898,933 |
MetLife, Inc. | 327,166 | 21,488,263 |
Progressive Corp. (The) | 130,986 | 14,062,657 |
69,458,820 | ||
Interactive Media & Services 1.9% | ||
Alphabet, Inc., Class C (a) | 8,587 | 19,744,347 |
IT Services 2.5% | ||
Amdocs Ltd. | 140,595 | 11,204,015 |
Global Payments, Inc. | 102,713 | 14,069,627 |
25,273,642 |
Shares | Value | |
Common Stocks (continued) | ||
Machinery 1.2% | ||
Middleby Corp. (The) (a) | 82,220 | $ 12,652,836 |
Media 3.1% | ||
Comcast Corp., Class A | 537,160 | 21,357,482 |
Omnicom Group, Inc. | 138,348 | 10,532,433 |
31,889,915 | ||
Multi-Utilities 3.1% | ||
Dominion Energy, Inc. | 192,981 | 15,754,969 |
Sempra Energy | 101,951 | 16,450,813 |
32,205,782 | ||
Oil, Gas & Consumable Fuels 5.6% | ||
ConocoPhillips | 235,809 | 22,524,476 |
Phillips 66 | 182,502 | 15,833,873 |
Pioneer Natural Resources Co. | 83,106 | 19,319,652 |
57,678,001 | ||
Pharmaceuticals 9.9% | ||
AstraZeneca plc, Sponsored ADR | 230,038 | 15,274,523 |
Eli Lilly and Co. | 74,589 | 21,789,685 |
Merck & Co., Inc. | 253,228 | 22,458,791 |
Pfizer, Inc. | 623,976 | 30,618,502 |
Roche Holding AG (Switzerland) | 31,304 | 11,593,958 |
101,735,459 | ||
Real Estate Management & Development 1.0% | ||
CBRE Group, Inc., Class A (a) | 118,963 | 9,878,688 |
Road & Rail 0.9% | ||
Knight-Swift Transportation Holdings, Inc. | 181,830 | 8,707,839 |
Semiconductors & Semiconductor Equipment 4.2% | ||
Analog Devices, Inc. | 116,144 | 17,930,311 |
Shares | Value | |
Semiconductors & Semiconductor Equipment (continued) | ||
Micron Technology, Inc. | 188,573 | $ 12,858,793 |
Qorvo, Inc. (a) | 107,920 | 12,279,137 |
43,068,241 | ||
Software 0.7% | ||
VMware, Inc., Class A | 63,964 | 6,910,671 |
Specialty Retail 3.2% | ||
Home Depot, Inc. (The) | 34,060 | 10,231,624 |
TJX Cos., Inc. (The) | 181,431 | 11,118,092 |
Victoria's Secret & Co. (a) | 237,734 | 11,202,026 |
32,551,742 | ||
Total Common Stocks (Cost $905,298,904) | 1,005,667,656 | |
Short-Term Investment 2.1% | ||
Affiliated Investment Company 2.1% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (b) | 21,450,761 | 21,450,761 |
Total Short-Term Investment (Cost $21,450,761) | 21,450,761 | |
Total Investments (Cost $926,749,665) | 100.0% | 1,027,118,417 |
Other Assets, Less Liabilities | 0.0‡ | 41,345 |
Net Assets | 100.0% | $ 1,027,159,762 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Non-income producing security. |
(b) | Current yield as of April 30, 2022. |
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
MainStay U.S. Government Liquidity Fund | $ 10,778 | $ 115,082 | $ (104,409) | $ — | $ — | $ 21,451 | $ 4 | $ — | 21,451 |
Abbreviation(s): |
ADR—American Depositary Receipt |
12 | MainStay WMC Value Fund |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Common Stocks | ||||
Pharmaceuticals | $ 90,141,501 | $ 11,593,958 | $ — | $ 101,735,459 |
All Other Industries | 903,932,197 | — | — | 903,932,197 |
Total Common Stocks | 994,073,698 | 11,593,958 | — | 1,005,667,656 |
Short-Term Investment | ||||
Affiliated Investment Company | 21,450,761 | — | — | 21,450,761 |
Total Investments in Securities | $ 1,015,524,459 | $ 11,593,958 | $ — | $ 1,027,118,417 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $905,298,904) | $1,005,667,656 |
Investment in affiliated investment companies, at value (identified cost $21,450,761) | 21,450,761 |
Cash | 246,976 |
Due from custodian | 149,529 |
Receivables: | |
Fund shares sold | 1,103,159 |
Dividends | 475,209 |
Other assets | 120,306 |
Total assets | 1,029,213,596 |
Liabilities | |
Payables: | |
Fund shares redeemed | 811,223 |
Manager (See Note 3) | 576,546 |
Investment securities purchased | 246,343 |
Transfer agent (See Note 3) | 162,080 |
NYLIFE Distributors (See Note 3) | 145,882 |
Professional fees | 45,421 |
Shareholder communication | 39,800 |
Custodian | 13,225 |
Trustees | 1,746 |
Securities lending | 330 |
Accrued expenses | 11,238 |
Total liabilities | 2,053,834 |
Net assets | $1,027,159,762 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.01 per share) unlimited number of shares authorized | $356,888 |
Additional paid-in-capital | 894,442,009 |
894,798,897 | |
Total distributable earnings (loss) | 132,360,865 |
Net assets | $1,027,159,762 |
Class A | |
Net assets applicable to outstanding shares | $523,568,319 |
Shares of beneficial interest outstanding | 18,541,161 |
Net asset value per share outstanding | $28.24 |
Maximum sales charge (5.50% of offering price) | 1.64 |
Maximum offering price per share outstanding | $29.88 |
Investor Class | |
Net assets applicable to outstanding shares | $57,667,043 |
Shares of beneficial interest outstanding | 2,041,463 |
Net asset value per share outstanding | $28.25 |
Maximum sales charge (5.00% of offering price) | 1.49 |
Maximum offering price per share outstanding | $29.74 |
Class B | |
Net assets applicable to outstanding shares | $10,142,921 |
Shares of beneficial interest outstanding | 495,209 |
Net asset value and offering price per share outstanding | $20.48 |
Class C | |
Net assets applicable to outstanding shares | $14,073,048 |
Shares of beneficial interest outstanding | 686,666 |
Net asset value and offering price per share outstanding | $20.49 |
Class I | |
Net assets applicable to outstanding shares | $103,879,660 |
Shares of beneficial interest outstanding | 3,425,356 |
Net asset value and offering price per share outstanding | $30.33 |
Class R1 | |
Net assets applicable to outstanding shares | $44,884 |
Shares of beneficial interest outstanding | 1,560 |
Net asset value and offering price per share outstanding | $28.77 |
Class R2 | |
Net assets applicable to outstanding shares | $1,030,881 |
Shares of beneficial interest outstanding | 36,024 |
Net asset value and offering price per share outstanding | $28.62 |
Class R3 | |
Net assets applicable to outstanding shares | $1,179,031 |
Shares of beneficial interest outstanding | 41,635 |
Net asset value and offering price per share outstanding | $28.32 |
Class R6 | |
Net assets applicable to outstanding shares | $315,573,975 |
Shares of beneficial interest outstanding | 10,419,752 |
Net asset value and offering price per share outstanding | $30.29 |
14 | MainStay WMC Value Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated (net of foreign tax withholding of $46,209) | $11,514,018 |
Securities lending | 5,511 |
Dividends-affiliated | 3,531 |
Other | 72 |
Total income | 11,523,132 |
Expenses | |
Manager (See Note 3) | 3,505,599 |
Distribution/Service—Class A (See Note 3) | 665,302 |
Distribution/Service—Investor Class (See Note 3) | 78,560 |
Distribution/Service—Class B (See Note 3) | 59,202 |
Distribution/Service—Class C (See Note 3) | 62,698 |
Distribution/Service—Class R2 (See Note 3) | 1,321 |
Distribution/Service—Class R3 (See Note 3) | 2,904 |
Transfer agent (See Note 3) | 363,058 |
Professional fees | 72,208 |
Registration | 68,708 |
Shareholder communication | 34,851 |
Trustees | 11,296 |
Custodian | 10,375 |
Shareholder service (See Note 3) | 1,132 |
Miscellaneous | 18,563 |
Total expenses before waiver/reimbursement | 4,955,777 |
Expense waiver/reimbursement from Manager (See Note 3) | (37,620) |
Net expenses | 4,918,157 |
Net investment income (loss) | 6,604,975 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | 27,187,805 |
Foreign currency transactions | 1,485 |
Net realized gain (loss) | 27,189,290 |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (57,113,744) |
Translation of other assets and liabilities in foreign currencies | (2,600) |
Net change in unrealized appreciation (depreciation) | (57,116,344) |
Net realized and unrealized gain (loss) | (29,927,054) |
Net increase (decrease) in net assets resulting from operations | $(23,322,079) |
for the six months ended April 30, 2022 (Unaudited) and the year ended October 31, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $6,604,975 | $6,951,234 |
Net realized gain (loss) | 27,189,290 | 620,768,124 |
Net change in unrealized appreciation (depreciation) | (57,116,344) | (247,726,816) |
Net increase (decrease) in net assets resulting from operations | (23,322,079) | 379,992,542 |
Distributions to shareholders: | ||
Class A | (254,684,172) | (16,313,673) |
Investor Class | (30,552,511) | (2,713,691) |
Class B | (7,017,068) | (590,306) |
Class C | (6,589,112) | (589,734) |
Class I | (44,509,475) | (17,065,424) |
Class R1 | (21,242) | (1,674) |
Class R2 | (492,154) | (28,927) |
Class R3 | (528,702) | (95,950) |
Class R6 | (161,084,996) | — |
Total distributions to shareholders | (505,479,432) | (37,399,379) |
Capital share transactions: | ||
Net proceeds from sales of shares | 88,447,407 | 36,516,229 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 492,255,789 | 36,436,026 |
Cost of shares redeemed | (124,006,760) | (224,285,447) |
Increase (decrease) in net assets derived from capital share transactions | 456,696,436 | (151,333,192) |
Net increase (decrease) in net assets | (72,105,075) | 191,259,971 |
Net Assets | ||
Beginning of period | 1,099,264,837 | 908,004,866 |
End of period | $1,027,159,762 | $1,099,264,837 |
16 | MainStay WMC Value Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $55.21 | $39.49 | $42.24 | $41.20 | $43.76 | $35.92 |
Net investment income (loss) (a) | 0.18 | 0.30 | 0.21 | 0.26 | 0.23 | 0.21 |
Net realized and unrealized gain (loss) | (1.37) | 17.09 | 0.55 | 4.88 | 1.79 | 8.50 |
Total from investment operations | (1.19) | 17.39 | 0.76 | 5.14 | 2.02 | 8.71 |
Less distributions: | ||||||
From net investment income | (0.38) | (0.25) | (0.31) | (0.28) | (0.21) | (0.48) |
From net realized gain on investments | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.39) |
Total distributions | (25.78) | (1.67) | (3.51) | (4.10) | (4.58) | (0.87) |
Net asset value at end of period | $28.24 | $55.21 | $39.49 | $42.24 | $41.20 | $43.76 |
Total investment return (b) | (2.23)% | 45.14% | 1.66% | 13.54% | 4.88% | 24.73% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.15%†† | 0.60% | 0.55% | 0.67% | 0.57% | 0.52% |
Net expenses (c) | 1.02%†† | 1.06% | 1.10%(d) | 1.11% | 1.10% | 1.10%(d) |
Portfolio turnover rate | 13% | 23% | 16% | 20% | 15% | 15% |
Net assets at end of period (in 000’s) | $523,568 | $547,299 | $389,530 | $427,040 | $384,637 | $389,582 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense which is less than one-tenth of a percent. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $55.08 | $39.40 | $42.17 | $41.15 | $43.68 | $35.85 |
Net investment income (loss) (a) | 0.14 | 0.14 | 0.10 | 0.18 | 0.17 | 0.14 |
Net realized and unrealized gain (loss) | (1.38) | 17.09 | 0.53 | 4.86 | 1.78 | 8.49 |
Total from investment operations | (1.24) | 17.23 | 0.63 | 5.04 | 1.95 | 8.63 |
Less distributions: | ||||||
From net investment income | (0.19) | (0.13) | (0.20) | (0.20) | (0.11) | (0.41) |
From net realized gain on investments | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.39) |
Total distributions | (25.59) | (1.55) | (3.40) | (4.02) | (4.48) | (0.80) |
Net asset value at end of period | $28.25 | $55.08 | $39.40 | $42.17 | $41.15 | $43.68 |
Total investment return (b) | (2.36)% | 44.73% | 1.35% | 13.27% | 4.69% | 24.50% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.89%†† | 0.28% | 0.25% | 0.46% | 0.39% | 0.36% |
Net expenses (c) | 1.29%†† | 1.36% | 1.40%(d) | 1.33% | 1.29% | 1.29%(d) |
Expenses (before waiver/reimbursement) (c) | 1.29%†† | 1.36% | 1.41% | 1.38% | 1.31% | 1.29% |
Portfolio turnover rate | 13% | 23% | 16% | 20% | 15% | 15% |
Net assets at end of period (in 000's) | $57,667 | $66,193 | $69,423 | $80,733 | $76,844 | $90,928 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense which is less than one-tenth of a percent. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class B | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $47.03 | $33.97 | $36.88 | $36.53 | $39.43 | $32.42 |
Net investment income (loss) (a) | 0.02 | (0.20) | (0.16) | (0.09) | (0.13) | (0.13) |
Net realized and unrealized gain (loss) | (1.17) | 14.68 | 0.45 | 4.26 | 1.60 | 7.67 |
Total from investment operations | (1.15) | 14.48 | 0.29 | 4.17 | 1.47 | 7.54 |
Less distributions: | ||||||
From net investment income | — | — | — | — | — | (0.14) |
From net realized gain on investments | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.39) |
Total distributions | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.53) |
Net asset value at end of period | $20.48 | $47.03 | $33.97 | $36.88 | $36.53 | $39.43 |
Total investment return (b) | (2.76)% | 43.67% | 0.57% | 12.45% | 3.91% | 23.55% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.16%†† | (0.47)% | (0.48)% | (0.27)% | (0.35)% | (0.37)% |
Net expenses (c) | 2.04%†† | 2.11% | 2.15%(d) | 2.08% | 2.04% | 2.05%(d) |
Expenses (before waiver/reimbursement) (c) | 2.04%†† | 2.11% | 2.16% | 2.13% | 2.06% | 2.05% |
Portfolio turnover rate | 13% | 23% | 16% | 20% | 15% | 15% |
Net assets at end of period (in 000’s) | $10,143 | $13,100 | $14,212 | $21,088 | $26,571 | $35,841 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense which is less than one-tenth of a percent. |
18 | MainStay WMC Value Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class C | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $47.04 | $33.98 | $36.88 | $36.53 | $39.43 | $32.42 |
Net investment income (loss) (a) | 0.01 | (0.21) | (0.16) | (0.07) | (0.14) | (0.13) |
Net realized and unrealized gain (loss) | (1.16) | 14.69 | 0.46 | 4.24 | 1.61 | 7.67 |
Total from investment operations | (1.15) | 14.48 | 0.30 | 4.17 | 1.47 | 7.54 |
Less distributions: | ||||||
From net investment income | — | — | — | — | — | (0.14) |
From net realized gain on investments | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.39) |
Total distributions | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.53) |
Net asset value at end of period | $20.49 | $47.04 | $33.98 | $36.88 | $36.53 | $39.43 |
Total investment return (b) | (2.76)% | 43.65% | 0.60% | 12.45% | 3.91% | 23.55% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.10%†† | (0.50)% | (0.48)% | (0.22)% | (0.36)% | (0.37)% |
Net expenses (c) | 2.03%†† | 2.11% | 2.15%(d) | 2.07% | 2.04% | 2.05%(d) |
Expenses (before waiver/reimbursement) (c) | 2.03%†† | 2.11% | 2.16% | 2.12% | 2.06% | 2.05% |
Portfolio turnover rate | 13% | 23% | 16% | 20% | 15% | 15% |
Net assets at end of period (in 000’s) | $14,073 | $11,119 | $14,315 | $22,933 | $65,288 | $79,665 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense which is less than one-tenth of a percent. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $57.43 | $40.99 | $43.71 | $42.51 | $45.00 | $36.92 |
Net investment income (loss) (a) | 0.25 | 0.30 | 0.32 | 0.38 | 0.36 | 0.34 |
Net realized and unrealized gain (loss) | (1.44) | 17.91 | 0.57 | 5.02 | 1.84 | 8.70 |
Total from investment operations | (1.19) | 18.21 | 0.89 | 5.40 | 2.20 | 9.04 |
Less distributions: | ||||||
From net investment income | (0.51) | (0.35) | (0.41) | (0.38) | (0.32) | (0.57) |
From net realized gain on investments | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.39) |
Total distributions | (25.91) | (1.77) | (3.61) | (4.20) | (4.69) | (0.96) |
Net asset value at end of period | $30.33 | $57.43 | $40.99 | $43.71 | $42.51 | $45.00 |
Total investment return (b) | (2.08)% | 45.57% | 1.92% | 13.80% | 5.17% | 25.01% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.45%†† | 0.61% | 0.81% | 0.93% | 0.83% | 0.84% |
Net expenses (c) | 0.70%†† | 0.82% | 0.85%(d) | 0.86% | 0.85% | 0.85%(d) |
Expenses (before waiver/reimbursement) (c) | 0.77%†† | 0.83% | 0.85% | 0.86% | 0.85% | 0.85% |
Portfolio turnover rate | 13% | 23% | 16% | 20% | 15% | 15% |
Net assets at end of period (in 000’s) | $103,880 | $102,714 | $417,329 | $488,730 | $484,839 | $634,730 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense which is less than one-tenth of a percent. |
20 | MainStay WMC Value Fund |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R1 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $55.81 | $39.90 | $42.64 | $41.53 | $44.07 | $36.16 |
Net investment income (loss) (a) | 0.21 | 0.38 | 0.27 | 0.33 | 0.37 | 0.27 |
Net realized and unrealized gain (loss) | (1.41) | 17.27 | 0.56 | 4.91 | 1.73 | 8.56 |
Total from investment operations | (1.20) | 17.65 | 0.83 | 5.24 | 2.10 | 8.83 |
Less distributions: | ||||||
From net investment income | (0.44) | (0.32) | (0.37) | (0.31) | (0.27) | (0.53) |
From net realized gain on investments | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.39) |
Total distributions | (25.84) | (1.74) | (3.57) | (4.13) | (4.64) | (0.92) |
Net asset value at end of period | $28.77 | $55.81 | $39.90 | $42.64 | $41.53 | $44.07 |
Total investment return (b) | (2.16)% | 45.37% | 1.82% | 13.71% | 5.05% | 24.92% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.32%†† | 0.75% | 0.69% | 0.83% | 0.88% | 0.67% |
Net expenses (c) | 0.86%†† | 0.91% | 0.95%(d) | 0.96% | 0.95% | 0.95%(d) |
Portfolio turnover rate | 13% | 23% | 16% | 20% | 15% | 15% |
Net assets at end of period (in 000’s) | $45 | $57 | $38 | $35 | $30 | $3,208 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R1 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense which is less than one-tenth of a percent. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R2 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $55.57 | $39.74 | $42.48 | $41.38 | $43.93 | $36.05 |
Net investment income (loss) (a) | 0.17 | 0.25 | 0.18 | 0.23 | 0.21 | 0.20 |
Net realized and unrealized gain (loss) | (1.39) | 17.21 | 0.55 | 4.89 | 1.78 | 8.50 |
Total from investment operations | (1.22) | 17.46 | 0.73 | 5.12 | 1.99 | 8.70 |
Less distributions: | ||||||
From net investment income | (0.33) | (0.21) | (0.27) | (0.20) | (0.17) | (0.43) |
From net realized gain on investments | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.39) |
Total distributions | (25.73) | (1.63) | (3.47) | (4.02) | (4.54) | (0.82) |
Net asset value at end of period | $28.62 | $55.57 | $39.74 | $42.48 | $41.38 | $43.93 |
Total investment return (b) | (2.28)% | 45.01% | 1.57% | 13.42% | 4.77% | 24.60% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.05%†† | 0.50% | 0.45% | 0.59% | 0.50% | 0.51% |
Net expenses (c) | 1.12%†† | 1.16% | 1.20%(d) | 1.21% | 1.20% | 1.20%(d) |
Portfolio turnover rate | 13% | 23% | 16% | 20% | 15% | 15% |
Net assets at end of period (in 000’s) | $1,031 | $1,066 | $716 | $780 | $881 | $2,583 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R2 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense which is less than one-tenth of a percent. |
Six months ended April 30, 2022* | Year Ended October 31, | |||||
Class R3 | 2021 | 2020 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $55.17 | $39.48 | $42.24 | $41.15 | $43.71 | $35.87 |
Net investment income (loss) (a) | 0.12 | 0.12 | 0.07 | 0.13 | 0.08 | 0.07 |
Net realized and unrealized gain (loss) | (1.38) | 17.12 | 0.54 | 4.87 | 1.79 | 8.50 |
Total from investment operations | (1.26) | 17.24 | 0.61 | 5.00 | 1.87 | 8.57 |
Less distributions: | ||||||
From net investment income | (0.19) | (0.13) | (0.17) | (0.09) | (0.06) | (0.34) |
From net realized gain on investments | (25.40) | (1.42) | (3.20) | (3.82) | (4.37) | (0.39) |
Total distributions | (25.59) | (1.55) | (3.37) | (3.91) | (4.43) | (0.73) |
Net asset value at end of period | $28.32 | $55.17 | $39.48 | $42.24 | $41.15 | $43.71 |
Total investment return (b) | (2.41)% | 44.66% | 1.29% | 13.14% | 4.51% | 24.29% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.78%†† | 0.25% | 0.19% | 0.32% | 0.20% | 0.17% |
Net expenses (c) | 1.37%†† | 1.42% | 1.45%(d) | 1.46% | 1.45% | 1.45%(d) |
Portfolio turnover rate | 13% | 23% | 16% | 20% | 15% | 15% |
Net assets at end of period (in 000’s) | $1,179 | $1,137 | $2,442 | $2,314 | $1,931 | $1,004 |
* | Unaudited. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense which is less than one-tenth of a percent. |
22 | MainStay WMC Value Fund |
Six months ended April 30, 2022* | April 26, 2021^ through October 31, | |
Class R6 | 2021 | |
Net asset value at beginning of period | $57.42 | $53.83 |
Net investment income (loss) (a) | 0.25 | 0.65 |
Net realized and unrealized gain (loss) | (1.44) | 2.94 |
Total from investment operations | (1.19) | 3.59 |
Less distributions: | ||
From net investment income | (0.54) | — |
From net realized gain on investments | (25.40) | — |
Total distributions | (25.94) | — |
Net asset value at end of period | $30.29 | $57.42 |
Total investment return (b) | (2.08)% | 6.67% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss)†† | 1.47% | 1.25% |
Net expenses††(c) | 0.70%(d) | 0.72% |
Portfolio turnover rate | 13% | 23% |
Net assets at end of period (in 000’s) | $315,574 | $356,580 |
* | Unaudited. |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Expense waiver/reimbursement less than 0.01%. |
Class | Commenced Operations |
Class A | June 9, 1999 |
Investor Class | February 28, 2008 |
Class B | June 9, 1999 |
Class C | June 9, 1999 |
Class I | January 21, 1971 |
Class R1 | January 2, 2004 |
Class R2 | January 2, 2004 |
Class R3 | April 28, 2006 |
Class R6 | April 26, 2021 |
SIMPLE Class | N/A* |
* | SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
24 | MainStay WMC Value Fund |
• Broker/dealer quotes | • Benchmark securities |
• Two-sided markets | • Reference data (corporate actions or material event notices) |
• Bids/offers | • Monthly payment information |
• Industry and economic events | • Reported trades |
26 | MainStay WMC Value Fund |
Class R1 | $23 |
Class R2 | 528 |
Class R3 | 581 |
28 | MainStay WMC Value Fund |
Class | Expense | Waived |
Class A | $176,228 | $— |
Investor Class | 106,172 | — |
Class B | 20,082 | — |
Class C | 20,938 | — |
Class I | 31,961 | — |
Class R1 | 15 | — |
Class R2 | 350 | — |
Class R3 | 384 | — |
Class R6 | 6,928 | — |
Class R6 | $26,114 | 0.0%‡ |
‡ | Less than one-tenth of a percent. |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $927,496,234 | $146,165,969 | $(46,543,786) | $99,622,183 |
2021 | |
Distributions paid from: | |
Ordinary Income | $6,062,614 |
Long-Term Capital Gains | 31,336,765 |
Total | $37,399,379 |
Class A | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 1,518,691 | $45,831,284 |
Shares issued to shareholders in reinvestment of distributions | 8,653,258 | 244,714,147 |
Shares redeemed | (1,835,706) | (55,767,610) |
Net increase (decrease) in shares outstanding before conversion | 8,336,243 | 234,777,821 |
Shares converted into Class A (See Note 1) | 293,193 | 8,721,631 |
Shares converted from Class A (See Note 1) | (987) | (35,282) |
Net increase (decrease) | 8,628,449 | $243,464,170 |
Year ended October 31, 2021: | ||
Shares sold | 393,231 | $19,413,350 |
Shares issued to shareholders in reinvestment of distributions | 356,091 | 15,628,837 |
Shares redeemed | (1,351,833) | (66,693,648) |
Net increase (decrease) in shares outstanding before conversion | (602,511) | (31,651,461) |
Shares converted into Class A (See Note 1) | 655,743 | 31,612,039 |
Shares converted from Class A (See Note 1) | (4,741) | (236,242) |
Net increase (decrease) | 48,491 | $(275,664) |
Investor Class | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 58,491 | $1,784,337 |
Shares issued to shareholders in reinvestment of distributions | 1,076,016 | 30,472,773 |
Shares redeemed | (79,804) | (2,570,826) |
Net increase (decrease) in shares outstanding before conversion | 1,054,703 | 29,686,284 |
Shares converted into Investor Class (See Note 1) | 20,840 | 597,348 |
Shares converted from Investor Class (See Note 1) | (235,835) | (7,047,584) |
Net increase (decrease) | 839,708 | $23,236,048 |
Year ended October 31, 2021: | ||
Shares sold | 45,764 | $2,257,681 |
Shares issued to shareholders in reinvestment of distributions | 61,674 | 2,707,491 |
Shares redeemed | (131,621) | (6,457,578) |
Net increase (decrease) in shares outstanding before conversion | (24,183) | (1,492,406) |
Shares converted into Investor Class (See Note 1) | 35,932 | 1,790,628 |
Shares converted from Investor Class (See Note 1) | (571,930) | (27,460,423) |
Net increase (decrease) | (560,181) | $(27,162,201) |
Class B | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 5,206 | $110,485 |
Shares issued to shareholders in reinvestment of distributions | 340,527 | 7,014,860 |
Shares redeemed | (38,329) | (875,398) |
Net increase (decrease) in shares outstanding before conversion | 307,404 | 6,249,947 |
Shares converted from Class B (See Note 1) | (90,763) | (1,921,659) |
Net increase (decrease) | 216,641 | $4,328,288 |
Year ended October 31, 2021: | ||
Shares sold | 5,188 | $211,148 |
Shares issued to shareholders in reinvestment of distributions | 15,616 | 589,371 |
Shares redeemed | (65,590) | (2,769,386) |
Net increase (decrease) in shares outstanding before conversion | (44,786) | (1,968,867) |
Shares converted from Class B (See Note 1) | (94,994) | (4,041,041) |
Net increase (decrease) | (139,780) | $(6,009,908) |
30 | MainStay WMC Value Fund |
Class C | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 267,945 | $6,468,115 |
Shares issued to shareholders in reinvestment of distributions | 317,250 | 6,538,534 |
Shares redeemed | (118,412) | (2,674,556) |
Net increase (decrease) in shares outstanding before conversion | 466,783 | 10,332,093 |
Shares converted from Class C (See Note 1) | (16,504) | (349,736) |
Net increase (decrease) | 450,279 | $9,982,357 |
Year ended October 31, 2021: | ||
Shares sold | 25,036 | $1,120,984 |
Shares issued to shareholders in reinvestment of distributions | 15,311 | 577,993 |
Shares redeemed | (180,583) | (7,613,414) |
Net increase (decrease) in shares outstanding before conversion | (140,236) | (5,914,437) |
Shares converted from Class C (See Note 1) | (44,661) | (1,880,706) |
Net increase (decrease) | (184,897) | $(7,795,143) |
Class I | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 960,779 | $31,199,157 |
Shares issued to shareholders in reinvestment of distributions | 1,366,048 | 41,432,227 |
Shares redeemed | (690,944) | (24,317,789) |
Net increase (decrease) in shares outstanding before conversion | 1,635,883 | 48,313,595 |
Shares converted into Class I (See Note 1) | 926 | 35,282 |
Net increase (decrease) | 1,636,809 | $48,348,877 |
Year ended October 31, 2021: | ||
Shares sold | 211,823 | $10,991,191 |
Shares issued to shareholders in reinvestment of distributions | 369,174 | 16,808,484 |
Shares redeemed | (2,559,831) | (124,640,457) |
Net increase (decrease) in shares outstanding before conversion | (1,978,834) | (96,840,782) |
Shares converted into Class I (See Note 1) | 4,165 | 215,745 |
Shares converted from Class I (See Note 1) | (6,419,247) | (345,548,082) |
Net increase (decrease) | (8,393,916) | $(442,173,119) |
Class R1 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares issued to shareholders in reinvestment of distributions | 738 | $21,242 |
Shares redeemed | (193) | (10,874) |
Net increase (decrease) | 545 | $10,368 |
Year ended October 31, 2021: | ||
Shares sold | 18 | $880 |
Shares issued to shareholders in reinvestment of distributions | 38 | 1,674 |
Net increase (decrease) | 56 | $2,554 |
Class R2 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 2,129 | $65,451 |
Shares issued to shareholders in reinvestment of distributions | 15,637 | 448,308 |
Shares redeemed | (931) | (31,148) |
Net increase (decrease) | 16,835 | $482,611 |
Year ended October 31, 2021: | ||
Shares sold | 1,159 | $56,954 |
Shares issued to shareholders in reinvestment of distributions | 593 | 26,226 |
Shares redeemed | (579) | (26,342) |
Net increase (decrease) | 1,173 | $56,838 |
Class R3 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 3,254 | $97,873 |
Shares issued to shareholders in reinvestment of distributions | 18,616 | 528,702 |
Shares redeemed | (842) | (24,576) |
Net increase (decrease) | 21,028 | $601,999 |
Year ended October 31, 2021: | ||
Shares sold | 1,591 | $79,036 |
Shares issued to shareholders in reinvestment of distributions | 2,181 | 95,950 |
Shares redeemed | (45,015) | (2,004,078) |
Net increase (decrease) | (41,243) | $(1,829,092) |
Class R6 | Shares | Amount |
Six-month period ended April 30, 2022: | ||
Shares sold | 92,337 | $2,890,705 |
Shares issued to shareholders in reinvestment of distributions | 5,318,092 | 161,084,996 |
Shares redeemed | (1,200,936) | (37,733,983) |
Net increase (decrease) | 4,209,493 | $126,241,718 |
Period ended October 31, 2021:(a) | ||
Shares sold | 41,870 | $2,385,005 |
Shares redeemed | (250,858) | (14,080,544) |
Net increase (decrease) in shares outstanding before conversion | (208,988) | (11,695,539) |
Shares converted into Class R6 (See Note 1) | 6,419,247 | 345,548,082 |
Net increase (decrease) | 6,210,259 | $333,852,543 |
(a) | The inception of the class was April 26, 2021. |
32 | MainStay WMC Value Fund |
34 | MainStay WMC Value Fund |
36 | MainStay WMC Value Fund |
38 | MainStay WMC Value Fund |
For more information
Item 2. | Code of Ethics. |
Not applicable.
Item 3. | Audit Committee Financial Expert. |
Not applicable.
Item 4. | Principal Accountant Fees and Services. |
Not applicable.
Item 5. | Audit Committee of Listed Registrants. |
Not applicable.
Item 6. | Investments. |
The Schedule of Investments is included as part of Item 1 of this report.
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable.
Item 8. | Portfolio Managers of Closed-End Management Investment Companies. |
Not applicable.
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable.
Item 10. | Submission of Matters to a Vote of Security Holders. |
Since the Registrant’s last response to this Item, there have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.
Item 11. | Controls and Procedures. |
(a) Based on an evaluation of the Registrant’s Disclosure Controls and Procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) (the “Disclosure Controls”), as of a date within 90 days prior to the filing date (the “Filing Date”) of this Form N-CSR (the “Report”), the Registrant’s principal executive officer and principal financial officer have concluded that the Disclosure Controls are reasonably designed to ensure that information required to be disclosed by the Registrant in the Report is recorded, processed, summarized and reported by the Filing Date, including ensuring that information required to be disclosed in the Report is accumulated and communicated to the Registrant’s management, including the Registrant’s principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.
(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d)) under the Investment Company Act of 1940 that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not applicable.
Item 13. | Exhibits. |
(a) |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
THE MAINSTAY FUNDS | ||
By: | /s/ Kirk C. Lehneis | |
Kirk C. Lehneis President and Principal Executive Officer | ||
Date: | July 6, 2022 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: | /s/ Kirk C. Lehneis | |
Kirk C. Lehneis President and Principal Executive Officer | ||
Date: | July 6, 2022 |
By: | /s/ Jack R. Benintende |
Jack R. Benintende Treasurer and Principal Financial and Accounting Officer | ||
Date: | July 6, 2022 |