UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR/A
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act File Number 811-22321
MAINSTAY FUNDS TRUST
(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: April 30
(MainStay CBRE Global Infrastructure Fund, MainStay CBRE Real Estate Fund, MainStay Conservative ETF Allocation Fund, MainStay Defensive ETF Allocation Fund, MainStay Equity ETF Allocation Fund, MainStay Growth ETF Allocation Fund, MainStay Moderate ETF Allocation Fund, MainStay MacKay Intermediate Tax Free Bond Fund and MainStay MacKay Short Term Municipal Fund)
Date of reporting period: April 30, 2021
EXPLANATORY NOTE
The Registrant is filing this amendment to its Form N-CSR for the period ended April 30, 2021, originally filed with the Securities and Exchange Commission on July 9, 2021 (Accession Number 0001193125-21-211306) to amend Item 1, “Reports to Stockholders.” The purpose of the amendment is to include information related to the MainStay Conservative ETF Allocation Fund, MainStay Defensive ETF Allocation Fund, MainStay Equity ETF Allocation Fund, MainStay Growth ETF Allocation Fund and MainStay Moderate ETF Allocation Fund.
FORM N-CSR/A
The information presented in this Form N-CSR relates solely to the
MainStay CBRE Global Infrastructure Fund, MainStay CBRE Real Estate Fund, MainStay Conservative ETF
Allocation Fund, MainStay Defensive ETF Allocation Fund, MainStay Equity ETF Allocation Fund, MainStay
Growth ETF Allocation Fund, MainStay Moderate ETF Allocation Fund, MainStay MacKay Intermediate Tax
Free Bond Fund and MainStay MacKay Short Term Municipal Fund,
each a series of the Registrant.
Item 1. Reports to Stockholders.
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 |
President
Average Annual Total Returns for the Year-Ended April 30, 2021 | |||||||
Class | Sales Charge | Inception Date | One Year | Five Years1 | Since Inception | Gross Expense Ratio2 | |
Class A Shares3 | Maximum 5.5% Initial Sales Charge | With sales charges | 10/16/2013 | 18.16% | 7.91% | 8.33% | 1.32% |
Excluding sales charges | 25.04 | 9.20 | 9.18 | 1.32 | |||
Investor Class Shares4 | Maximum 5% Initial Sales Charge | With sales charges | 2/24/2020 | 18.00 | N/A | -1.40 | 1.79 |
Excluding sales charges | 24.87 | N/A | 3.40 | 1.79 | |||
Class C Shares3 | Maximum 1% CDSC | With sales charges | 2/28/2019 | 23.04 | N/A | 10.18 | 2.54 |
if Redeemed Within One Year of Purchase | Excluding sales charges | 24.04 | N/A | 10.18 | 2.54 | ||
Class I Shares3 | No Sales Charge | 6/28/2013 | 25.46 | 9.51 | 10.15 | 1.07 | |
Class R6 Shares | No Sales Charge | 2/24/2020 | 25.50 | N/A | 3.86 | 0.98 |
1. | Effective at the close of business on February 21, 2020, the Fund changed its fiscal and tax year end from October 31 to April 30. |
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. | Performance figures for Class A shares, Class C shares and Class I shares reflect the historical performance of the then-existing Class A shares, Class C shares and Class I shares, respectively, of the Voya CBRE Global Infrastructure Fund (the predecessor to the Fund, which was subject to a different fee structure) for periods prior to February 21, 2020. The MainStay CBRE Global Infrastructure Fund commenced operations on February 24, 2020. |
4. | Prior to June 30, 2020, the maximum initial sales charge for Investor Class shares was 5.5%, which is reflected in the average annual total return figures shown. |
Benchmark Performance | One Year | Five Years | Since Inception |
FTSE Global Core Infrastructure 50/50 Index1 | 8.17% | 8.22% | 8.06% |
Morningstar Infrastructure Category Average2 | 8.19 | 7.43 | 7.87 |
1. | The FTSE Global Core Infrastructure 50/50 Index is the Fund’s primary broad-based securities market index for comparison purposes. The FTSE Global Core Infrastructure 50/50 Index gives participants an industry-defined interpretation of infrastructure and adjusts the exposure to certain infrastructure sub-sectors. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
2. | The Morningstar Infrastructure Category Average is representative of funds that invest more than 60% of their assets in stocks of companies engaged in infrastructure activities. Industries considered to be part of the infrastructure sector include: oil & gas midstream; waste management; airports; integrated shipping; railroads; shipping & ports; trucking; engineering & construction; infrastructure operations; and the utilities sector. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay CBRE Global Infrastructure Fund |
Share Class | Beginning Account Value 11/1/20 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/21 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/21 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,194.70 | $ 7.13 | $1,018.30 | $ 6.56 | 1.31% |
Investor Class Shares | $1,000.00 | $1,194.90 | $ 7.89 | $1,017.60 | $ 7.25 | 1.45% |
Class C Shares | $1,000.00 | $1,190.10 | $11.29 | $1,014.48 | $10.39 | 2.08% |
Class I Shares | $1,000.00 | $1,197.20 | $ 5.28 | $1,019.98 | $ 4.86 | 0.97% |
Class R6 Shares | $1,000.00 | $1,197.30 | $ 5.18 | $1,020.08 | $ 4.76 | 0.95% |
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. |
United States | 54.8% |
France | 7.8 |
Italy | 7.1 |
Australia | 5.9 |
Canada | 5.9 |
United Kingdom | 5.5 |
Spain | 4.9 |
Japan | 2.8 |
Portugal | 2.7% |
Mexico | 2.0 |
Germany | 1.6 |
China | 1.2 |
New Zealand | 1.1 |
Other Assets, Less Liabilities | –3.3 |
100.0% |
1. | Enel SpA |
2. | Crown Castle International Corp. |
3. | American Electric Power Co., Inc. |
4. | NextEra Energy, Inc. |
5. | American Tower Corp. |
6. | Vinci SA |
7. | Cellnex Telecom SA |
8. | Union Pacific Corp. |
9. | Ameren Corp. |
10. | Transurban Group |
8 | MainStay CBRE Global Infrastructure Fund |
1. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns. |
10 | MainStay CBRE Global Infrastructure Fund |
Shares | Value | |
Common Stocks 98.1% | ||
Australia 5.9% | ||
Atlas Arteria Ltd. (Transportation) | 3,287,342 | $ 15,295,720 |
Transurban Group (Transportation) | 1,455,837 | 15,891,712 |
31,187,432 | ||
Canada 5.9% | ||
Canadian National Railway Co. (Transportation) | 71,800 | 7,729,971 |
Pembina Pipeline Corp. (Midstream / Pipelines) | 398,100 | 12,288,097 |
TC Energy Corp. (Midstream / Pipelines) | 225,700 | 11,166,104 |
31,184,172 | ||
China 1.2% | ||
China Resources Gas Group Ltd. (Utilities) | 1,145,500 | 6,215,806 |
France 7.8% | ||
Eiffage SA (Transportation) | 60,301 | 6,605,915 |
Engie SA (Utilities) | 978,051 | 14,545,411 |
Vinci SA (Transportation) (a) | 181,610 | 19,956,333 |
41,107,659 | ||
Germany 1.6% | ||
Fraport AG Frankfurt Airport Services Worldwide (Transportation) (a) | 126,161 | 8,375,607 |
Italy 7.1% | ||
Atlantia SpA (Transportation) | 303,108 | 5,912,578 |
Enel SpA (Utilities) | 2,260,991 | 22,471,991 |
Infrastrutture Wireless Italiane SpA (Communications) | 397,997 | 4,641,372 |
Terna Rete Elettrica Nazionale SpA (Utilities) | 574,309 | 4,232,538 |
37,258,479 | ||
Japan 2.8% | ||
Central Japan Railway Co. (Transportation) | 31,239 | 4,569,086 |
Chubu Electric Power Co., Inc. (Utilities) | 344,034 | 4,156,802 |
West Japan Railway Co. (Transportation) | 111,400 | 6,148,456 |
14,874,344 | ||
Mexico 2.0% | ||
Grupo Aeroportuario del Sureste SAB de CV (Transportation) | 332,550 | 5,624,473 |
Promotora y Operadora de Infraestructura SAB de CV (Transportation) | 627,695 | 4,850,638 |
10,475,111 |
Shares | Value | |
New Zealand 1.1% | ||
Infratil Ltd. (Diversified) | 1,113,073 | $ 5,683,135 |
Portugal 2.7% | ||
EDP - Energias de Portugal SA (Utilities) | 2,571,666 | 14,290,232 |
Spain 4.9% | ||
Cellnex Telecom SA (Communications) | 329,796 | 18,651,230 |
Iberdrola SA (Utilities) | 505,648 | 6,829,929 |
25,481,159 | ||
United Kingdom 5.5% | ||
National Grid plc (Utilities) | 1,251,554 | 15,739,345 |
Pennon Group plc (Utilities) | 412,249 | 5,886,939 |
United Utilities Group plc (Utilities) | 534,822 | 7,151,279 |
28,777,563 | ||
United States 49.6% | ||
AES Corp. (The) (Utilities) | 401,800 | 11,178,075 |
Alliant Energy Corp. (Utilities) | 255,200 | 14,334,584 |
Ameren Corp. (Utilities) | 193,400 | 16,408,056 |
American Electric Power Co., Inc. (Utilities) | 232,700 | 20,642,817 |
American Tower Corp. (Communications) | 79,765 | 20,321,729 |
Cheniere Energy, Inc. (Midstream / Pipelines) (b) | 182,637 | 14,158,020 |
CMS Energy Corp. (Utilities) | 172,610 | 11,114,358 |
Crown Castle International Corp. (Communications) | 110,929 | 20,972,237 |
Dominion Energy, Inc. (Utilities) | 129,500 | 10,347,050 |
Equinix, Inc. (Communications) | 11,586 | 8,350,725 |
Essential Utilities, Inc. (Utilities) | 165,450 | 7,797,659 |
Exelon Corp. (Utilities) | 277,307 | 12,462,177 |
FirstEnergy Corp. (Utilities) | 278,300 | 10,553,136 |
Kansas City Southern (Transportation) | 46,000 | 13,441,660 |
Kinder Morgan, Inc. (Midstream / Pipelines) | 209,700 | 3,575,385 |
Legacy Reserves, Inc. (Midstream / Pipelines) (b)(c)(d)(e) | 5,055 | 32,301 |
Legacy Reserves, Inc. (Midstream / Pipelines) (b)(c)(d)(e) | 27,942 | 178,549 |
NextEra Energy, Inc. (Utilities) | 263,380 | 20,414,584 |
NiSource, Inc. (Utilities) | 393,200 | 10,231,064 |
Norfolk Southern Corp. (Transportation) | 8,100 | 2,261,844 |
Public Service Enterprise Group, Inc. (Utilities) | 217,500 | 13,737,300 |
Shares | Value | ||
Common Stocks (continued) | |||
United States (continued) | |||
Union Pacific Corp. (Transportation) | 79,700 | $ 17,700,573 | |
260,213,883 | |||
Total Common Stocks (Cost $451,311,029) | 515,124,582 | ||
Short-Term Investments 5.2% | |||
Affiliated Investment Company 1.6% | |||
United States 1.6% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (f) | 8,397,838 | 8,397,838 | |
Unaffiliated Investment Company 3.6% | |||
United States 3.6% | |||
BlackRock Liquidity FedFund, 0.05% (f)(g) | 18,814,951 | 18,814,951 | |
Total Short-Term Investments (Cost $27,212,789) | 27,212,789 | ||
Total Investments (Cost $478,523,818) | 103.3% | 542,337,371 | |
Other Assets, Less Liabilities | (3.3) | (17,364,824) | |
Net Assets | 100.0% | $ 524,972,547 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2021, the aggregate market value of securities on loan was $17,812,379. The Fund received cash collateral with a value of $18,814,951. (See Note 2(I)) |
(b) | Non-income producing security. |
(c) | Fair valued security—Represents fair value as measured in good faith under procedures approved by the Board of Trustees. As of April 30, 2021, the total market value was $210,850, which represented less than one-tenth of a percent of the Fund’s net assets. |
(d) | Illiquid security—As of April 30, 2021, the total market value deemed illiquid under procedures approved by the Board of Trustees was $210,850, which represented less than one-tenth of a percent of the Fund’s net assets. (Unaudited) |
(e) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(f) | Current yield as of April 30, 2021. |
(g) | Represents a security purchased with cash collateral received for securities on loan. |
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 | $ 514,913,732 | $ — | $ 210,850 | $ 515,124,582 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 8,397,838 | — | — | 8,397,838 | |||
Unaffiliated Investment Company | 18,814,951 | — | — | 18,814,951 | |||
Total Short-Term Investments | 27,212,789 | — | — | 27,212,789 | |||
Total Investments in Securities | $ 542,126,521 | $ — | $ 210,850 | $ 542,337,371 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
12 | MainStay CBRE Global Infrastructure Fund |
Value | Percent † | ||
Utilities | $260,741,132 | 49.7% | |
Transportation | 134,364,566 | 25.5 | |
Communications | 72,937,293 | 14.0 | |
Midstream / Pipelines | 41,398,456 | 7.8 | |
Diversified | 5,683,135 | 1.1 | |
515,124,582 | 98.1 | ||
Short-Term Investments | 27,212,789 | 5.2 | |
Other Assets, Less Liabilities | (17,364,824) | (3.3) | |
Net Assets | $524,972,547 | 100.0% |
† | Percentages indicated are based on Fund net assets. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $470,125,980) including securities on loan of $17,812,379 | $ 533,939,533 |
Investment in affiliated investment companies, at value (identified cost $8,397,838) | 8,397,838 |
Receivables: | |
Fund shares sold | 4,644,502 |
Dividends and interest | 792,609 |
Securities lending | 2,867 |
Other assets | 69,803 |
Total assets | 547,847,152 |
Liabilities | |
Cash collateral received for securities on loan | 18,814,951 |
Due to custodian | 65,867 |
Foreign currency due to custodian, at value | 20,032 |
Payables: | |
Investment securities purchased | 3,373,016 |
Manager (See Note 3) | 303,287 |
Transfer agent (See Note 3) | 119,554 |
Fund shares redeemed | 76,384 |
Professional fees | 54,843 |
NYLIFE Distributors (See Note 3) | 17,988 |
Custodian | 17,942 |
Shareholder communication | 8,512 |
Accrued expenses | 2,229 |
Total liabilities | 22,874,605 |
Net assets | $ 524,972,547 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 40,951 |
Additional paid-in-capital | 679,394,553 |
679,435,504 | |
Total distributable earnings (loss) | (154,462,957) |
Net assets | $ 524,972,547 |
Class A | |
Net assets applicable to outstanding shares | $ 45,642,072 |
Shares of beneficial interest outstanding | 3,562,780 |
Net asset value per share outstanding | $ 12.81 |
Maximum sales charge (5.50% of offering price) | 0.75 |
Maximum offering price per share outstanding | $ 13.56 |
Investor Class | |
Net assets applicable to outstanding shares | $ 2,158,775 |
Shares of beneficial interest outstanding | 168,711 |
Net asset value per share outstanding | $ 12.80 |
Maximum sales charge (5.00% of offering price) | 0.67 |
Maximum offering price per share outstanding | $ 13.47 |
Class C | |
Net assets applicable to outstanding shares | $ 11,522,207 |
Shares of beneficial interest outstanding | 903,558 |
Net asset value and offering price per share outstanding | $ 12.75 |
Class I | |
Net assets applicable to outstanding shares | $465,299,189 |
Shares of beneficial interest outstanding | 36,288,215 |
Net asset value and offering price per share outstanding | $ 12.82 |
Class R6 | |
Net assets applicable to outstanding shares | $ 350,304 |
Shares of beneficial interest outstanding | 27,326 |
Net asset value and offering price per share outstanding | $ 12.82 |
14 | MainStay CBRE Global Infrastructure Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated (net of foreign tax withholding of $543,013) | $ 8,250,759 |
Securities lending | 44,728 |
Interest | 2,525 |
Dividends-affiliated | 856 |
Other | 249 |
Total income | 8,299,117 |
Expenses | |
Manager (See Note 3) | 2,581,182 |
Transfer agent (See Note 3) | 307,164 |
Registration | 179,818 |
Distribution/Service—Class A (See Note 3) | 76,437 |
Distribution/Service—Investor Class (See Note 3) | 4,688 |
Distribution/Service—Class C (See Note 3) | 74,713 |
Professional fees | 125,701 |
Shareholder communication | 97,844 |
Custodian | 69,929 |
Trustees | 3,866 |
Insurance | 2,627 |
Total expenses before waiver/reimbursement | 3,523,969 |
Expense waiver/reimbursement from Manager (See Note 3) | (388,646) |
Net expenses | 3,135,323 |
Net investment income (loss) | 5,163,794 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | 5,333,466 |
Foreign currency transactions | 18,403 |
Net realized gain (loss) | 5,351,869 |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | 64,704,424 |
Translation of other assets and liabilities in foreign currencies | 16,133 |
Net change in unrealized appreciation (depreciation) | 64,720,557 |
Net realized and unrealized gain (loss) | 70,072,426 |
Net increase (decrease) in net assets resulting from operations | $75,236,220 |
for the year ended April 30, 2021, the period November 1, 2019 through April 30, 2020 (a) and the year ended October 31, 2019
2021 | 2020 (a) | 2019 | |
Increase (Decrease) in Net Assets | |||
Operations: | |||
Net investment income (loss) | $ 5,163,794 | $ 1,997,640 | $ 2,833,074 |
Net realized gain (loss) | 5,351,869 | (12,458,756) | 5,836,501 |
Net change in unrealized appreciation (depreciation) | 64,720,557 | (18,493,973) | 21,235,465 |
Net increase (decrease) in net assets resulting from operations | 75,236,220 | (28,955,089) | 29,905,040 |
Distributions to shareholders: | |||
Class A | (416,571) | (365,628) | (169,569) |
Investor Class | (24,647) | (123) | — |
Class C | (63,792) | (29,836) | (3,391) |
Class I | (4,126,661) | (7,127,573) | (3,968,511) |
Class W | — | (282,475) | (68,056) |
Class R6 | (2,375) | (55) | — |
(4,634,046) | (7,805,690) | (4,209,527) | |
Distributions to shareholders from return of capital: | |||
Class A | — | (19,173) | — |
Investor Class | — | (33) | — |
Class C | — | (739) | — |
Class I | — | (427,284) | — |
Class W | — | (10,235) | — |
Class R6 | — | (15) | — |
— | (457,479) | — | |
Total distributions to shareholders | (4,634,046) | (8,263,169) | (4,209,527) |
Capital share transactions: | |||
Net proceeds from sales of shares | 295,291,961 | 75,154,395 | 178,838,093 |
Net asset value of shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | 13,886,106 | — | — |
Net asset value of shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | 13,689,513 | — | — |
Net asset value of shares issued to shareholder in reinvestment of distributions | 4,465,820 | 8,254,361 | 4,202,175 |
2021 | 2020 (a) | 2019 | |
Cost of shares redeemed | $ (93,610,084) | $ (73,000,657) | $ (34,984,660) |
Increase (decrease) in net assets derived from capital share transactions | 233,723,316 | 10,408,099 | 148,055,608 |
Net increase (decrease) in net assets | 304,325,490 | (26,810,159) | 173,751,121 |
Net Assets | |||
Beginning of period | 220,647,057 | 247,457,216 | 73,706,095 |
End of period | $524,972,547 | $220,647,057 | $247,457,216 |
(a) | The Fund changed its fiscal year end from October 31 to April 30. |
16 | MainStay CBRE Global Infrastructure Fund |
Year Ended April 30, | November 1, 2019 through April 30, | Year Ended October 31, | |||||||||
Class A | 2021 | 2020 # | 2019 | 2018 | 2017 | 2016 | |||||
Net asset value at beginning of period | $ 10.39 | $ 11.99 | $ 10.04 | $ 11.40 | $ 10.78 | $ 10.68 | |||||
Net investment income (loss) | 0.16(a) | 0.07(a) | 0.16 | 0.19 | 0.17(a) | 0.15(a) | |||||
Net realized and unrealized gain (loss) on investments | 2.41 | (1.29) | 2.12 | (0.51) | 1.30 | 0.66 | |||||
Net realized and unrealized gain (loss) on foreign currency transactions | 0.01 | (0.01) | — | — | — | — | |||||
Total from investment operations | 2.58 | (1.23) | 2.28 | (0.32) | 1.47 | 0.81 | |||||
Less distributions: | |||||||||||
From net investment income | (0.16) | (0.06) | (0.17) | (0.25) | (0.12) | (0.20) | |||||
From net realized gain on investments | — | (0.29) | (0.16) | (0.79) | (0.73) | (0.51) | |||||
Return of capital | — | (0.02) | — | — | — | — | |||||
Total distributions | (0.16) | (0.37) | (0.33) | (1.04) | (0.85) | (0.71) | |||||
Net asset value at end of period | $ 12.81 | $ 10.39 | $ 11.99 | $ 10.04 | $ 11.40 | $ 10.78 | |||||
Total investment return (b) | 25.04% | (10.57)% | 23.24% | (3.16)% | 14.96% | 8.21% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 1.35% | 1.32%†† | 1.51% | 1.89% | 1.59% | 1.44% | |||||
Net expenses | 1.29% (c) | 1.32%†† (c)(d) | 1.35% | 1.35% | 1.53% | 1.60% | |||||
Expenses (before waiver/reimbursement) | 1.35% (c) | 1.54%†† (c)(d) | 1.56% | 1.83% | 2.36% | 2.15% | |||||
Portfolio turnover rate | 51% | 49% | 53% | 61% | 85% | 88% | |||||
Net assets at end of period (in 000's) | $ 45,642 | $ 11,237 | $ 11,700 | $ 1,787 | $ 1,146 | $ 526 |
# | The Fund changed its fiscal year end from October 31 to April 30. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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 of less than 0.01%. (See Note 6) |
Year Ended April 30, | February 24, 2020^ through April 30, | ||
Investor Class | 2021 | 2020 | |
Net asset value at beginning of period | $ 10.38 | $ 12.50 | |
Net investment income (loss) (a) | 0.13 | (0.00)‡ | |
Net realized and unrealized gain (loss) on investments | 2.43 | (2.06) | |
Net realized and unrealized gain (loss) on foreign currency transactions | 0.00‡ | (0.02) | |
Total from investment operations | 2.56 | (2.08) | |
Less distributions: | |||
From net investment income | (0.14) | (0.03) | |
Return of capital | — | (0.01) | |
Total distributions | (0.14) | (0.04) | |
Net asset value at end of period | $ 12.80 | $ 10.38 | |
Total investment return (b) | 24.87% | (16.66)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.11% | (0.12)%†† | |
Net expenses (c) | 1.45% | 1.45%†† | |
Expenses (before waiver/reimbursement) (c) | 1.76% | 1.67%†† | |
Portfolio turnover rate | 51% | 49% | |
Net assets at end of period (in 000’s) | $ 2,159 | $ 106 |
^ | Inception date. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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 CBRE Global Infrastructure Fund |
Year Ended April 30, | November 1, 2019 through April 30, 2020# | February 28, 2019^ through October 31, 2019 | |||
Class C | 2021 | ||||
Net asset value at beginning of period | $ 10.37 | $ 11.96 | $ 10.82 | ||
Net investment income (loss) (a) | 0.06 | 0.03 | 0.04 | ||
Net realized and unrealized gain (loss) on investments | 2.42 | (1.28) | 1.22 | ||
Net realized and unrealized gain (loss) on foreign currency transactions | 0.00‡ | (0.01) | — | ||
Total from investment operations | 2.48 | (1.26) | 1.26 | ||
Less distributions: | |||||
From net investment income | (0.10) | (0.03) | (0.12) | ||
From net realized gain on investments | — | (0.29) | — | ||
Return of capital | — | (0.01) | — | ||
Total distributions | (0.10) | (0.33) | (0.12) | ||
Net asset value at end of period | $ 12.75 | $ 10.37 | $ 11.96 | ||
Total investment return (b) | 24.04% | (10.89)% | 11.67% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 0.52% | 0.58%†† | 0.46%†† | ||
Net expenses | 2.08% (c) | 2.09%†† (c)(d) | 2.10%†† | ||
Expenses (before waiver/reimbursement) | 2.51% (c) | 2.36%†† (c)(d) | 2.31%†† | ||
Portfolio turnover rate | 51% | 49% | 53% | ||
Net assets at end of period (in 000's) | $ 11,522 | $ 992 | $ 1,048 |
# | The Fund changed its fiscal year end from October 31 to April 30. |
^ | Inception date. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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 of less than 0.01%. (See Note 6) |
Year Ended April 30, | November 1, 2019 through April 30, 2020# | Year Ended October 31, | |||||||||
Class I | 2021 | 2019 | 2018 | 2017 | 2016 | ||||||
Net asset value at beginning of period | $ 10.39 | $ 11.99 | $ 10.04 | $ 11.40 | $ 10.78 | $ 10.67 | |||||
Net investment income (loss) | 0.21(a) | 0.09(a) | 0.20 | 0.23 | 0.20 | 0.21(a) | |||||
Net realized and unrealized gain (loss) on investments | 2.41 | (1.29) | 2.11 | (0.52) | 1.30 | 0.64 | |||||
Net realized and unrealized gain (loss) on foreign currency transactions | 0.00‡ | (0.01) | — | — | — | — | |||||
Total from investment operations | 2.62 | (1.21) | 2.31 | (0.29) | 1.50 | 0.85 | |||||
Less distributions: | |||||||||||
From net investment income | (0.19) | (0.08) | (0.20) | (0.28) | (0.15) | (0.23) | |||||
From net realized gain on investments | — | (0.29) | (0.16) | (0.79) | (0.73) | (0.51) | |||||
Return of capital | — | (0.02) | — | — | — | — | |||||
Total distributions | (0.19) | (0.39) | (0.36) | (1.07) | (0.88) | (0.74) | |||||
Net asset value at end of period | $ 12.82 | $ 10.39 | $ 11.99 | $ 10.04 | $ 11.40 | $ 10.78 | |||||
Total investment return (b) | 25.46% | (10.46)% | 23.52% | (2.88)% | 15.25% | 8.66% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 1.78% | 1.59%†† | 1.83% | 2.14% | 1.83% | 2.05% | |||||
Net expenses | 0.97% (c) | 1.05%†† (c)(d) | 1.10% | 1.10% | 1.21% | 1.25% | |||||
Expenses (before waiver/reimbursement) | 1.10% (c) | 1.18%†† (c)(d) | 1.14% | 1.41% | 1.61% | 1.60% | |||||
Portfolio turnover rate | 51% | 49% | 53% | 61% | 85% | 88% | |||||
Net assets at end of period (in 000's) | $ 465,299 | $ 208,291 | $ 225,176 | $ 71,919 | $ 36,755 | $ 22,569 |
# | The Fund changed its fiscal year end from October 31 to April 30. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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 of less than 0.01%. (See Note 6) |
20 | MainStay CBRE Global Infrastructure Fund |
Year Ended April 30, | February 24, 2020^ through April 30, | ||
Class R6 | 2021 | 2020 | |
Net asset value at beginning of period | $ 10.39 | $ 12.51 | |
Net investment income (loss) (a) | 0.17 | 0.02 | |
Net realized and unrealized gain (loss) on investments | 2.45 | (2.09) | |
Net realized and unrealized gain (loss) on foreign currency transactions | 0.00‡ | (0.02) | |
Total from investment operations | 2.62 | (2.09) | |
Less distributions: | |||
From net investment income | (0.19) | (0.02) | |
Return of capital | — | (0.01) | |
Total distributions | (0.19) | (0.03) | |
Net asset value at end of period | $ 12.82 | $ 10.39 | |
Total investment return (b) | 25.50% | (16.65)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.47% | 0.85%†† | |
Net expenses (c) | 0.95% | 0.95%†† | |
Expenses (before waiver/reimbursement) (c) | 1.02% | 1.13%†† | |
Portfolio turnover rate | 51% | 49% | |
Net assets at end of period (in 000's) | $ 350 | $ 21 |
^ | Inception date. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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 | October 16, 2013 |
Investor Class | February 24, 2020 |
Class C | February 28, 2019 |
Class I | June 28, 2013 |
Class R6 | February 24, 2020 |
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 CBRE Global Infrastructure Fund |
• | Level 1—quoted prices in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including the Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
• 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 CBRE Global Infrastructure Fund |
26 | MainStay CBRE Global Infrastructure Fund |
Class | Expense | Waived |
Class A | $ 27,109 | $— |
Investor Class | 9,355 | — |
Class C | 36,824 | — |
Class I | 233,869 | — |
Class R6 | 7 | — |
Affiliated Investment Companies | Value, Beginning of Year | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Year | Dividend Income | Other Distributions | Shares End of Year |
MainStay U.S. Government Liquidity Fund | $ 376 | $ 213,699 | $ (205,677) | $ — | $ — | $ 8,398 | $ 1 | $ — | 8,398 |
Class R6 | $26,154 | 7.5% |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments | $481,500,095 | $62,503,087 | $(1,665,811) | $60,837,276 |
Ordinary income | Undistributed Tax Exempt Income | Accumulated Capital and Other Gain (Loss) | Other Temporary Differences | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
$550,048 | $— | $(215,854,592) | $(5,344) | $60,846,931 | $(154,462,957) |
Total Distributable Earnings (Loss) | Additional Paid-In Capital | |
$30,760 | $(30,760) |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $124,280,700 | $91,573,892 |
2021 | 2020 (a) | 2019 | |
Distributions paid from: | |||
Ordinary Income | $4,634,046 | $3,660,947 | $2,910,254 |
Long-Term Capital Gains | — | 4,144,743 | 1,299,273 |
Return of Capital | — | 457,479 | — |
Total | $4,634,046 | $8,263,169 | $4,209,527 |
(a) | The Fund changed its fiscal year end from October 31 to April 30. |
28 | MainStay CBRE Global Infrastructure Fund |
Class A | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 1,872,393 | $ 21,788,474 |
Shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | 601,016 | 6,193,827 |
Shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | 528,902 | 5,450,653 |
Shares issued to shareholders in reinvestment of distributions | 36,412 | 410,877 |
Shares redeemed | (589,938) | (6,735,881) |
Net increase (decrease) in shares outstanding before conversion | 2,448,785 | 27,107,950 |
Shares converted into Class A (See Note 1) | 32,197 | 366,724 |
Net increase (decrease) | 2,480,982 | $ 27,474,674 |
Period ended April 30, 2020:(a) | ||
Shares sold | 280,921 | $ 3,178,261 |
Shares issued to shareholders in reinvestment of distributions | 33,172 | 384,614 |
Shares redeemed | (208,401) | (2,229,848) |
Net increase (decrease) in shares outstanding before conversion | 105,692 | 1,333,027 |
Shares converted from Class A (See Note 1) | (80) | (832) |
Net increase (decrease) | 105,612 | $ 1,332,195 |
Year ended October 31, 2019: | ||
Shares sold | 868,313 | $ 9,653,435 |
Shares issued to shareholders in reinvestment of distributions | 15,513 | 169,519 |
Shares redeemed | (85,561) | (957,531) |
Net increase (decrease) | 798,265 | $ 8,865,423 |
Investor Class | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 22,331 | $ 261,551 |
Shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | 91,365 | 940,483 |
Shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | 92,315 | 950,261 |
Shares issued to shareholders in reinvestment of distributions | 2,156 | 24,023 |
Shares redeemed | (34,598) | (397,716) |
Net increase (decrease) in shares outstanding before conversion | 173,569 | 1,778,602 |
Shares converted into Investor Class (See Note 1) | 2,904 | 34,998 |
Shares converted from Investor Class (See Note 1) | (17,954) | (204,846) |
Net increase (decrease) | 158,519 | $ 1,608,754 |
Period ended April 30, 2020:(a), (b) | ||
Shares sold | 10,096 | $ 106,183 |
Shares issued to shareholders in reinvestment of distributions | 16 | 156 |
Net increase (decrease) in shares outstanding before conversion | 10,112 | 106,339 |
Shares converted into Investor Class (See Note 1) | 80 | 832 |
Net increase (decrease) | 10,192 | $ 107,171 |
Class C | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 525,639 | $ 6,194,222 |
Shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | 307,263 | 3,159,121 |
Shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | 269,210 | 2,767,878 |
Shares issued to shareholders in reinvestment of distributions | 5,659 | 61,815 |
Shares redeemed | (282,657) | (3,227,807) |
Net increase (decrease) in shares outstanding before conversion | 825,114 | 8,955,229 |
Shares converted from Class C (See Note 1) | (17,245) | (196,876) |
Net increase (decrease) | 807,869 | $ 8,758,353 |
Period ended April 30, 2020:(a) | ||
Shares sold | 11,275 | $ 131,035 |
Shares issued to shareholders in reinvestment of distributions | 2,613 | 30,575 |
Shares redeemed | (5,862) | (66,601) |
Net increase (decrease) | 8,026 | $ 95,009 |
Year ended October 31, 2019:(c) | ||
Shares sold | 89,275 | $ 1,031,473 |
Shares issued to shareholders in reinvestment of distributions | 289 | 3,391 |
Shares redeemed | (1,901) | (21,916) |
Net increase (decrease) | 87,663 | $ 1,012,948 |
30 | MainStay CBRE Global Infrastructure Fund |
Class I | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 22,477,048 | $266,718,394 |
Shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | 348,425 | 3,592,675 |
Shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | 438,428 | 4,520,721 |
Shares issued to shareholders in reinvestment of distributions | 349,236 | 3,966,730 |
Shares redeemed | (7,370,273) | (83,206,710) |
Net increase (decrease) | 16,242,864 | $195,591,810 |
Period ended April 30, 2020:(a) | ||
Shares sold | 6,223,447 | $ 69,833,031 |
Shares issued to shareholders in reinvestment of distributions | 653,378 | 7,546,236 |
Shares redeemed | (6,544,949) | (70,138,992) |
Net increase (decrease) in shares outstanding before conversion | 331,876 | 7,240,275 |
Shares converted into Class I (See Note 1)(d) | 930,648 | 11,641,536 |
Net increase (decrease) | 1,262,524 | $ 18,881,811 |
Year ended October 31, 2019: | ||
Shares sold | 14,200,545 | $158,999,775 |
Shares issued to shareholders in reinvestment of distributions | 362,521 | 3,961,209 |
Shares redeemed | (2,941,969) | (33,873,492) |
Net increase (decrease) | 11,621,097 | $129,087,492 |
Class W | Shares | Amount |
Period ended April 30, 2020:(a) | ||
Shares sold | 157,430 | $ 1,880,885 |
Shares issued to shareholders in reinvestment of distributions | 24,765 | 292,710 |
Shares redeemed | (47,136) | (565,216) |
Net increase (decrease) in shares outstanding before conversion | 135,059 | 1,608,379 |
Shares converted from Class W (See Note 1)(d) | (930,098) | (11,641,536) |
Net increase (decrease) | (795,039) | $ (10,033,157) |
Year ended October 31, 2019:(c) | ||
Shares sold | 800,304 | $ 9,153,410 |
Shares issued to shareholders in reinvestment of distributions | 5,805 | 68,056 |
Shares redeemed | (11,070) | (131,721) |
Net increase (decrease) | 795,039 | $ 9,089,745 |
Class R6 | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 28,666 | $ 329,320 |
Shares issued to shareholders in reinvestment of distributions | 202 | 2,375 |
Shares redeemed | (3,548) | (41,970) |
Net increase (decrease) | 25,320 | $ 289,725 |
Period ended April 30, 2020:(a), (b) | ||
Shares sold | 1,999 | $ 25,000 |
Shares issued to shareholders in reinvestment of distributions | 7 | 70 |
Net increase (decrease) | 2,006 | $ 25,070 |
(a) | The Fund changed its fiscal year end from October 31 to April 30. |
(b) | The inception date of the class was February 24, 2020. |
(c) | The inception date of the class was February 28, 2019. |
(d) | Class W converted to Class I on February 21, 2020. |
Before Reorganizations | After Reorganizations | ||||
MainStay Cushing Energy Income Fund | MainStay Cushing Renaissance Advantage Fund | MainStay CBRE Global Infrastructure Fund | MainStay CBRE Global Infrastructure Fund | ||
Net Assets: | |||||
Class A | $ 6,193,827 | $ 5,450,653 | $ 11,134,876 | $ 22,779,356 | |
Investor Class | 940,483 | 950,261 | 109,563 | 2,000,307 | |
Class C | 3,159,121 | 2,767,878 | 957,457 | 6,884,456 | |
Class I | 3,592,675 | 4,520,721 | 204,038,989 | 212,152,385 | |
Class R6 | — | — | 20,687 | 20,687 | |
Shares Outstanding: | |||||
Class A | 3,445,944 | 625,287 | 1,080,471 | 2,210,389 | |
Investor Class | 524,975 | 109,803 | 10,644 | 194,323 | |
Class C | 1,831,130 | 339,427 | 93,124 | 669,596 | |
Class I | 1,972,096 | 508,945 | 19,788,177 | 20,575,030 | |
Class R6 | — | — | 2,006 | 2,006 | |
Net Asset Value Per Share Outstanding: | |||||
Class A | $ 1.80 | $ 8.72 | $ 10.31 | $ 10.31 | |
Investor Class | $ 1.79 | $ 8.65 | $ 10.29 | $ 10.29 | |
Class C | $ 1.73 | $ 8.15 | $ 10.28 | $ 10.28 | |
Class I | $ 1.82 | $ 8.88 | $ 10.31 | $ 10.31 | |
Class R6 | $ — | $ — | $ 10.31 | $ 10.31 | |
Total distributable earnings (loss) | $(248,267,119) | $(84,368,759) | $ (14,398,971) | $(347,034,849) |
32 | MainStay CBRE Global Infrastructure Fund |
Net investment income (loss) | $ 5,232,025 |
Net realized and unrealized gain (loss) | 68,672,287 |
Net change in net assets resulting from operations | $73,904,312 |
MainStay Funds Trust:
June 24, 2021
34 | MainStay CBRE Global Infrastructure Fund |
36 | MainStay CBRE Global Infrastructure Fund |
38 | MainStay CBRE Global Infrastructure Fund |
40 | MainStay CBRE Global Infrastructure Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 76 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017 |
* | This Trustee is considered to be an “interested person” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund, within the meaning of the 1940 Act because of her affiliation with New York Life Insurance Company, New York Life Investment Management LLC, Candriam Belgium S.A., Candriam Luxembourg S.C.A., IndexIQ Advisors LLC, MacKay Shields LLC, NYL Investors LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail above in the column entitled “Principal Occupation(s) During Past Five Years.” |
42 | MainStay CBRE Global Infrastructure Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Market Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, Chair of the Investment Committee since 2018 | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007;MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 76 | MainStay VP Funds Trust: Chairman since 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee;MainStay Funds Trust: Trustee and Audit Committee Financial Expert since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 76 | MainStay VP Funds Trust: Trustee and Audit Committee Financial Expert since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee and Audit Committee Financial Expert since 2011; State Farm Associates Funds Trusts: Trustee since 2005 (4 portfolios) | |
Richard H. Nolan, Jr. 1946 | MainStay Funds: Trustee since 2007;MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 76 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC (since 2018); President, Fidelity Management & Research Company (2009 to 2014); Founder, President and Chief Executive Officer, Geode Capital Management, LLC (2001 to 2009) | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI Inc.: Director since 2017 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994;MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 76 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 |
** | Includes prior service as a Director/Trustee of certain predecessor entities to MainStay Funds Trust. |
*** | Includes prior service as a Director of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
44 | MainStay CBRE Global Infrastructure Fund |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds and MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers since 2017 and Senior Managing Director since 2018, NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017**; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2007**; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2010** | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2005** | ||
Yi-Chia Kuo 1981 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2020 | Chief Compliance Officer, Index IQ Trust, Index IQ ETF Trust and Index IQ Active ETF Trust since 2020; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2020; Director and Associate General Counsel, New York Life Insurance Company (2015 to 2019) |
* | The officers listed above are considered to be “interested persons” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund within the meaning of the 1940 Act because of their affiliation with the MainStay Group of Funds, New York Life Insurance Company and/or its affiliates, including New York Life Investment Management LLC, NYLIM Service Company LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail in the column captioned “Principal Occupation(s) During Past Five Years.” Officers are elected annually by the Board. |
** | Includes prior service as an Officer of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
1.
2. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
3. | An affiliate of New York Life Investment Management LLC. |
1856714MS071-21 | MSCBGI11-06/21 |
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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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Average Annual Total Returns for the Year-Ended April 30, 2021 | |||||||
Class | Sales Charge | Inception Date | One Year | Five Years or Since Inception1 | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares3 | Maximum 5.5% Initial Sales Charge | With sales charges | 12/20/2002 | 34.87% | 5.81% | 7.53% | 1.42% |
Excluding sales charges | 42.72 | 7.07 | 8.17 | 1.42 | |||
Investor Class Shares4 | Maximum 5% Initial Sales Charge | With sales charges | 2/24/2020 | 34.58 | -0.04 | N/A | 1.32 |
Excluding sales charges | 42.41 | 4.83 | N/A | 1.32 | |||
Class C Shares3 | Maximum 1% CDSC | With sales charges | 1/17/2003 | 40.65 | 6.25 | 7.32 | 2.07 |
If Redeemed Within One Year of Purchase | Excluding sales charges | 41.65 | 6.25 | 7.32 | 2.07 | ||
Class I Shares3 | No Sales Charge | 12/31/1996 | 43.19 | 7.43 | 8.48 | 1.17 | |
Class R3 Shares3 | No Sales Charge | 8/5/2011 | 42.47 | 6.80 | 9.59 | 1.67 | |
Class R6 Shares3 | No Sales Charge | 7/3/2014 | 43.35 | 7.51 | 7.88 | 0.83 |
1. | Effective at the close of business on February 21, 2020, the Fund changed its fiscal and tax year end from October 31 to April 30. |
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. | Performance figures for Class A shares, Class C shares, Class I shares, Class R3 shares and Class R6 shares, reflect the historical performance of the then-existing Class A shares, Class C shares, Class I shares, Class R and Class R6 shares of the Voya Real Estate Fund (the predecessor to the Fund, which was subject to a different fee structure) for periods prior to February 21, 2020. The MainStay CBRE Real Estate Fund commenced operations on February 24, 2020. |
4. | Prior to June 30, 2020, the maximum initial sales charge for Investor Class shares was 5.5%, which is reflected in the average annual total return figures shown. |
Benchmark Performance | One Year | Five Years | Ten Years |
FTSE NAREIT All Equity REITs Index1 | 33.36% | 9.28% | 9.66% |
CBRE Real Estate Tiered Index2 | 36.99 | 7.41 | 8.73 |
MSCI U.S. REIT® Index3 | 37.45 | 7.48 | 8.77 |
Morningstar Real Estate Category Average4 | 38.40 | 7.83 | 8.42 |
1. | The Fund has selected the FTSE NAREIT All Equity REITs Index as its primary benchmark as a replacement for the MSCI U.S. REIT® Index because it believes that the FTSE NAREIT All Equity REITs Index is more reflective of its current investment style. The FTSE NAREIT All Equity REITs Index is a free-float adjusted, market capitalization-weighted index of U.S. equity REITs. Constituents of the index include all tax-qualified REITs with more than 50 percent of total assets in qualifying real estate assets other than mortgages secured by real property. |
2. | The Fund has selected a tiered benchmark as its secondary benchmark. The returns for the tiered benchmark represent the returns of the MSCI U.S. REIT® Index prior to January 1, 2021 and the returns of the FTSE Nareit All Equity REITs Index thereafter. |
3. | The MSCI U.S. REIT® Index is a free float-adjusted market capitalization weighted index that is comprised of equity real estate investment trusts. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Morningstar Real Estate Category Average is representative of funds that invest primarily in real estate investment trusts of various types. REITs are companies that develop and manage real estate properties. There are several different types of REITs, including apartment, factory-outlet, healthcare, hotel, industrial, mortgage, office, and shopping center REITs. Some portfolios in this category also invest in real estate operating companies. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay CBRE Real Estate Fund |
Share Class | Beginning Account Value 11/1/20 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/21 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/21 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,395.00 | $ 7.01 | $1,018.94 | $5.91 | 1.18% |
Investor Class Shares | $1,000.00 | $1,394.70 | $ 7.48 | $1,018.55 | $6.31 | 1.26% |
Class C Shares | $1,000.00 | $1,389.70 | $11.44 | $1,015.22 | $9.64 | 1.93% |
Class I Shares | $1,000.00 | $1,397.80 | $ 4.93 | $1,020.68 | $4.16 | 0.83% |
Class R3 Shares | $1,000.00 | $1,393.40 | $ 8.49 | $1,017.70 | $7.15 | 1.43% |
Class R6 Shares | $1,000.00 | $1,398.90 | $ 4.40 | $1,021.13 | $3.71 | 0.74% |
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. |
Technology Towers | 22.3% |
Industrial Properties | 14.5 |
Residential | 12.3 |
Self Storage Property | 9.6 |
Net Lease Properties | 8.3 |
Healthcare Facilities | 7.4 |
Community Shopping Centers | 6.7 |
Enclosed Mall | 5.7 |
Office Buildings | 5.4% |
Hotels | 4.0 |
Timber | 2.3 |
Technology Datacenters | 1.1 |
Short–Term Investment | 0.6 |
Other Assets, Less Liabilities | –0.2 |
100.0% |
1. | Prologis, Inc. |
2. | American Tower Corp. |
3. | Crown Castle International Corp. |
4. | Simon Property Group, Inc. |
5. | Duke Realty Corp. |
6. | Extra Space Storage, Inc. |
7. | CubeSmart |
8. | UDR, Inc. |
9. | Equinix, Inc. |
10. | Invitation Homes, Inc. |
8 | MainStay CBRE Real Estate Fund |
1. | The returns for the tiered benchmark represent the returns of the MSCI U.S. REIT® Index prior to January 1, 2021 and the returns of the FTSE Nareit All Equity REITs Index thereafter. |
2. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns. |
10 | MainStay CBRE Real Estate Fund |
Shares | Value | |
Common Stocks 99.6% | ||
Community Shopping Centers 6.7% | ||
Acadia Realty Trust | 185,900 | $ 3,883,451 |
Brixmor Property Group, Inc. | 303,857 | 6,788,165 |
Regency Centers Corp. | 114,347 | 7,279,330 |
Retail Properties of America, Inc., Class A | 336,253 | 3,944,248 |
SITE Centers Corp. | 370,600 | 5,466,350 |
27,361,544 | ||
Enclosed Mall 5.7% | ||
Simon Property Group, Inc. | 192,730 | 23,462,950 |
Healthcare Facilities 7.4% | ||
Alexandria Real Estate Equities, Inc. | 49,948 | 9,045,583 |
Healthcare Trust of America, Inc., Class A | 324,791 | 9,539,111 |
Ventas, Inc. | 207,904 | 11,530,356 |
30,115,050 | ||
Hotels 4.0% | ||
Apple Hospitality REIT, Inc. | 296,300 | 4,699,318 |
Marriott International, Inc., Class A (a) | 19,229 | 2,855,891 |
Park Hotels & Resorts, Inc. | 230,400 | 5,140,224 |
Sunstone Hotel Investors, Inc. | 269,400 | 3,545,304 |
16,240,737 | ||
Industrial Properties 14.5% | ||
Duke Realty Corp. | 387,345 | 18,019,289 |
Prologis, Inc. | 354,956 | 41,363,023 |
59,382,312 | ||
Net Lease Properties 8.3% | ||
Four Corners Property Trust, Inc. | 70,700 | 2,041,109 |
MGM Growth Properties LLC, Class A | 165,069 | 5,945,785 |
NETSTREIT Corp. | 142,810 | 2,974,732 |
Spirit Realty Capital, Inc. | 87,363 | 4,153,237 |
STAG Industrial, Inc. | 227,064 | 8,290,107 |
VEREIT, Inc. | 219,197 | 10,486,385 |
33,891,355 | ||
Office Buildings 5.4% | ||
Brandywine Realty Trust | 111,915 | 1,514,210 |
Columbia Property Trust, Inc. | 145,200 | 2,615,052 |
Highwoods Properties, Inc. | 95,603 | 4,282,058 |
Hudson Pacific Properties, Inc. | 168,035 | 4,723,464 |
Paramount Group, Inc. | 254,700 | 2,702,367 |
Piedmont Office Realty Trust, Inc., Class A | 333,175 | 6,203,719 |
22,040,870 | ||
Residential 12.3% | ||
Apartment Income REIT Corp. | 131,085 | 5,918,488 |
Shares | Value | ||
Residential (continued) | |||
Camden Property Trust | 96,707 | $ 11,651,259 | |
Invitation Homes, Inc. | 342,646 | 12,013,169 | |
Mid-America Apartment Communities, Inc. | 49,991 | 7,865,084 | |
UDR, Inc. | 273,000 | 12,680,850 | |
50,128,850 | |||
Self Storage Property 9.6% | |||
CubeSmart | 372,847 | 15,786,342 | |
Extra Space Storage, Inc. | 119,327 | 17,742,732 | |
Life Storage, Inc. | 58,738 | 5,642,372 | |
39,171,446 | |||
Technology Datacenters 1.1% | |||
CyrusOne, Inc. | 61,139 | 4,452,753 | |
Technology Towers 22.3% | |||
American Tower Corp. | 161,875 | 41,240,894 | |
Crown Castle International Corp. | 174,251 | 32,943,894 | |
Equinix, Inc. | 17,275 | 12,451,129 | |
QTS Realty Trust, Inc., Class A | 65,189 | 4,334,417 | |
90,970,334 | |||
Timber 2.3% | |||
Weyerhaeuser Co. | 242,400 | 9,397,848 | |
Total Common Stocks (Cost $266,640,717) | 406,616,049 | ||
Short-Term Investment 0.6% | |||
Affiliated Investment Company 0.6% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (b) | 2,422,421 | 2,422,421 | |
Total Short-Term Investment (Cost $2,422,421) | 2,422,421 | ||
Total Investments (Cost $269,063,138) | 100.2% | 409,038,470 | |
Other Assets, Less Liabilities | (0.2) | (881,396) | |
Net Assets | 100.0% | $ 408,157,074 |
† | Percentages indicated are based on Fund net assets. |
(a) | Non-income producing security. |
(b) | Current yield as of April 30, 2021. |
Abbreviation(s): |
REIT—Real Estate Investment Trust |
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 | $ 406,616,049 | $ — | $ — | $ 406,616,049 | |||
Short-Term Investment | |||||||
Affiliated Investment Company | 2,422,421 | — | — | 2,422,421 | |||
Total Investments in Securities | $ 409,038,470 | $ — | $ — | $ 409,038,470 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
12 | MainStay CBRE Real Estate Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $266,640,717) | $406,616,049 |
Investment in affiliated investment companies, at value (identified cost $2,422,421) | 2,422,421 |
Receivables: | |
Investment securities sold | 7,043,740 |
Dividends and interest | 260,386 |
Fund shares sold | 120,192 |
Securities lending | 111 |
Other assets | 56,532 |
Total assets | 416,519,431 |
Liabilities | |
Payables: | |
Investment securities purchased | 7,361,639 |
Fund shares redeemed | 485,174 |
Transfer agent (See Note 3) | 238,600 |
Manager (See Note 3) | 127,193 |
Professional fees | 69,897 |
NYLIFE Distributors (See Note 3) | 44,331 |
Shareholder communication | 22,872 |
Custodian | 9,919 |
Trustees | 585 |
Accrued expenses | 2,147 |
Total liabilities | 8,362,357 |
Net assets | $408,157,074 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 30,677 |
Additional paid-in-capital | 275,592,334 |
275,623,011 | |
Total distributable earnings (loss) | 132,534,063 |
Net assets | $408,157,074 |
Class A | |
Net assets applicable to outstanding shares | $177,328,321 |
Shares of beneficial interest outstanding | 14,540,649 |
Net asset value per share outstanding | $ 12.20 |
Maximum sales charge (5.50% of offering price) | 0.71 |
Maximum offering price per share outstanding | $ 12.91 |
Investor Class | |
Net assets applicable to outstanding shares | $ 156,865 |
Shares of beneficial interest outstanding | 12,870 |
Net asset value per share outstanding | $ 12.19 |
Maximum sales charge (5.00% of offering price) | 0.64 |
Maximum offering price per share outstanding | $ 12.83 |
Class C | |
Net assets applicable to outstanding shares | $ 10,202,076 |
Shares of beneficial interest outstanding | 747,031 |
Net asset value and offering price per share outstanding | $ 13.66 |
Class I | |
Net assets applicable to outstanding shares | $202,597,284 |
Shares of beneficial interest outstanding | 14,102,486 |
Net asset value and offering price per share outstanding | $ 14.37 |
Class R3 | |
Net assets applicable to outstanding shares | $ 2,298,255 |
Shares of beneficial interest outstanding | 190,166 |
Net asset value and offering price per share outstanding | $ 12.09 |
Class R6 | |
Net assets applicable to outstanding shares | $ 15,574,273 |
Shares of beneficial interest outstanding | 1,083,965 |
Net asset value and offering price per share outstanding | $ 14.37 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 11,108,091 |
Securities lending | 436 |
Dividends-affiliated | 310 |
Interest | 43 |
Other | 452 |
Total income | 11,109,332 |
Expenses | |
Manager (See Note 3) | 3,126,554 |
Transfer agent (See Note 3) | 1,315,341 |
Distribution/Service—Class A (See Note 3) | 382,274 |
Distribution/Service—Investor Class (See Note 3) | 353 |
Distribution/Service—Class C (See Note 3) | 163,716 |
Distribution/Service—Class R3 (See Note 3) | 11,535 |
Registration | 164,585 |
Professional fees | 144,208 |
Shareholder communication | 56,047 |
Custodian | 27,587 |
Trustees | 11,030 |
Insurance | 5,438 |
Shareholder service (See Note 3) | 2,307 |
Miscellaneous | 20,129 |
Total expenses before waiver/reimbursement | 5,431,104 |
Expense waiver/reimbursement from Manager (See Note 3) | (1,273,062) |
Net expenses | 4,158,042 |
Net investment income (loss) | 6,951,290 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | 64,338,106 |
Foreign currency transactions | (20) |
Net realized gain (loss) | 64,338,086 |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | 73,792,672 |
Translation of other assets and liabilities in foreign currencies | 18,783 |
Net change in unrealized appreciation (depreciation) | 73,811,455 |
Net realized and unrealized gain (loss) | 138,149,541 |
Net increase (decrease) in net assets resulting from operations | $145,100,831 |
14 | MainStay CBRE Real Estate Fund |
for the year ended April 30, 2021, the period June 1, 2019 through April 30, 2020 (a) and the year ended May 31, 2019
2021 | 2020 (a) | 2019 | |
Increase (Decrease) in Net Assets | |||
Operations: | |||
Net investment income (loss) | $ 6,951,290 | $ 7,084,131 | $ 8,015,600 |
Net realized gain (loss) | 64,338,086 | (21,476,089) | 77,720,621 |
Net change in unrealized appreciation (depreciation) | 73,811,455 | (119,436,877) | (34,171,729) |
Net increase (decrease) in net assets resulting from operations | 145,100,831 | (133,828,835) | 51,564,492 |
Distributions to shareholders: | |||
Class A | (2,954,226) | (10,726,973) | (23,301,564) |
Investor Class | (2,510) | (232) | — |
Class C | (147,082) | (1,107,782) | (2,530,548) |
Class I | (3,362,951) | (18,890,608) | (44,863,260) |
Class O(b) | — | — | (548,382) |
Class P3(c) | — | — | (676) |
Class W(d) | — | (1,387,751) | (4,230,510) |
Class R3(e) | (40,070) | (265,293) | (686,264) |
Class R6 | (444,082) | (9,536,377) | (17,279,132) |
(6,950,921) | (41,915,016) | (93,440,336) | |
Distributions to shareholders from return of capital: | |||
Class A | (4,672,323) | (2,926,262) | — |
Investor Class | (3,969) | — | — |
Class C | (232,620) | (304,652) | — |
Class I | (5,318,752) | (5,156,796) | — |
Class W(d) | — | (383,611) | — |
Class R3(e) | (63,373) | (72,878) | — |
Class R6 | (702,350) | (2,615,230) | — |
(10,993,387) | (11,459,429) | — | |
Total distributions to shareholders | (17,944,308) | (53,374,445) | (93,440,336) |
Capital share transactions: | |||
Net proceeds from sales of shares | 43,632,468 | 70,022,959 | 90,734,349 |
Net asset value of shares issued in connection with the acquisition of Voya Global Real Estate Fund | — | 376,491,739 | — |
2021 | 2020 (a) | 2019 | |
Net asset value of shares issued to shareholder in reinvestment of distributions | $ 16,788,246 | $ 50,822,483 | $ 84,453,212 |
Cost of shares redeemed | (241,941,306) | (213,904,174) | (311,372,429) |
Increase (decrease) in net assets derived from capital share transactions | (181,520,592) | 283,433,007 | (136,184,868) |
Net increase (decrease) in net assets | (54,364,069) | 96,229,727 | (178,060,712) |
Net Assets | |||
Beginning of period | 462,521,143 | 366,291,416 | 544,352,128 |
End of period | $ 408,157,074 | $ 462,521,143 | $ 366,291,416 |
(a) | The Fund changed its fiscal year end from May 31 to April 30. |
(b) | Class O converted to Class A on November 22, 2019. |
(c) | Class P3 liquidated on November 22, 2019. |
(d) | Class W converted to Class I on February 21, 2020. |
(e) | Prior to February 24, 2020, known as Class R. |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | |||||||||
Class A | 2021 | 2019 | 2018 | 2017 | 2016 | ||||||
Net asset value at beginning of period | $ 8.97 | $ 12.32 | $ 14.43 | $ 17.81 | $ 19.40 | $ 19.25 | |||||
Net investment income (loss) | 0.16(a) | 0.18(a) | 0.21(a) | 0.28(a) | 0.19(a) | 0.34 | |||||
Net realized and unrealized gain (loss) on investments | 3.59 | (1.52) | 1.29 | (0.07) | (0.26) | 1.36 | |||||
Net realized and unrealized gain (loss) on foreign currency transactions | 0.00‡ | (0.00)‡ | — | — | — | — | |||||
Total from investment operations | 3.75 | (1.34) | 1.50 | 0.21 | (0.07) | 1.70 | |||||
Less distributions: | |||||||||||
From net investment income | (0.20) | (0.26) | (0.21) | (0.28) | (0.27) | (0.41) | |||||
From net realized gain on investments | — | (1.32) | (3.40) | (3.31) | (1.25) | (1.14) | |||||
Return of capital | (0.32) | (0.43) | — | — | — | — | |||||
Total distributions | (0.52) | (2.01) | (3.61) | (3.59) | (1.52) | (1.55) | |||||
Net asset value at end of period | $ 12.20 | $ 8.97 | $ 12.32 | $ 14.43 | $ 17.81 | $ 19.40 | |||||
Total investment return (b) | 42.72% | (13.80)% | 12.73% | 0.23% | (0.36)% | 9.24% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 1.64% | 1.69%†† | 1.58% | 1.69% | 1.02% | 1.75% | |||||
Net expenses | 1.18% (c) | 1.17%†† (c)(d) | 1.24% | 1.29% | 1.27% | 1.29% | |||||
Expenses (before waiver/reimbursement) | 1.45% (c) | 1.36%†† (c)(d) | 1.31% | 1.31% | 1.27% | 1.29% | |||||
Portfolio turnover rate | 93% | 88% | 82% | 102% | 53% | 37% | |||||
Net assets at end of period (in 000's) | $ 177,328 | $ 149,970 | $ 89,037 | $ 81,475 | $ 136,095 | $ 188,970 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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 of less than 0.01%. (See Note 6) |
16 | MainStay CBRE Real Estate Fund |
Year Ended April 30, | February 24, 2020^ through April 30, 2020 | ||
Investor Class | 2021 | ||
Net asset value at beginning of period | $ 8.97 | $ 12.17 | |
Net investment income (loss) (a) | 0.15 | (0.04) | |
Net realized and unrealized gain (loss) on investments | 3.58 | (3.10) | |
Net realized and unrealized gain (loss) on foreign currency transactions‡ | 0.00 | (0.00) | |
Total from investment operations | 3.73 | (3.14) | |
Less distributions: | |||
From net investment income | (0.20) | (0.06) | |
Return of capital | (0.31) | — | |
Total distributions | (0.51) | — | |
Net asset value at end of period | $ 12.19 | $ 8.97 | |
Total investment return (b) | 42.41% | (25.74)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.53% | (2.55)%†† | |
Net expenses (c) | 1.26% | 1.35%†† | |
Expenses (before waiver/reimbursement) (c) | 1.34% | 1.56%†† | |
Portfolio turnover rate | 93% | 88% | |
Net assets at end of period (in 000’s) | $ 157 | $ 103 |
^ | Inception date. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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. |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | |||||||||
Class C | 2021 | 2019 | 2018 | 2017 | 2016 | ||||||
Net asset value at beginning of period | $ 9.96 | $ 13.47 | $ 15.44 | $ 18.80 | $ 20.38 | $ 20.14 | |||||
Net investment income (loss) | 0.07(a) | 0.11(a) | 0.11 | 0.16(a) | 0.05(a) | 0.18 | |||||
Net realized and unrealized gain (loss) on investments | 4.02 | (1.71) | 1.42 | (0.08) | (0.28) | 1.46 | |||||
Net realized and unrealized gain (loss) on foreign currency transactions | 0.00‡ | (0.00)‡ | — | — | — | — | |||||
Total from investment operations | 4.09 | (1.60) | 1.53 | 0.08 | (0.23) | 1.64 | |||||
Less distributions: | |||||||||||
From net investment income | (0.15) | (0.18) | (0.10) | (0.13) | (0.10) | (0.26) | |||||
From net realized gain on investments | — | (1.32) | (3.40) | (3.31) | (1.25) | (1.14) | |||||
Return of capital | (0.24) | (0.41) | — | — | — | — | |||||
Total distributions | (0.39) | (1.91) | (3.50) | (3.44) | (1.35) | (1.40) | |||||
Net asset value at end of period | $ 13.66 | $ 9.96 | $ 13.47 | $ 15.44 | $ 18.80 | $ 20.38 | |||||
Total investment return (b) | 41.65% | (14.44)% | 11.90% | (0.50)% | (1.10)% | 8.44% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 0.66% | 1.00%†† | 0.85% | 0.90% | 0.27% | 0.89% | |||||
Net expenses | 1.93% (c) | 1.92%†† (c)(d) | 1.99% | 2.04% | 2.02% | 2.04% | |||||
Expenses (before waiver/reimbursement) | 2.09% (c) | 2.13%†† (c)(d) | 2.06% | 2.06% | 2.02% | 2.04% | |||||
Portfolio turnover rate | 93% | 88% | 82% | 102% | 53% | 37% | |||||
Net assets at end of period (in 000's) | $ 10,202 | $ 20,942 | $ 11,216 | $ 13,449 | $ 22,084 | $ 29,550 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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 of less than 0.01%. (See Note 6) |
18 | MainStay CBRE Real Estate Fund |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | |||||||||
Class I | 2021 | 2019 | 2018 | 2017 | 2016 | ||||||
Net asset value at beginning of period | $ 10.49 | $ 14.08 | $ 15.99 | $ 19.36 | $ 20.95 | $ 20.67 | |||||
Net investment income (loss) | 0.22(a) | 0.24(a) | 0.30(a) | 0.37(a) | 0.28(a) | 0.41 | |||||
Net realized and unrealized gain (loss) on investments | 4.22 | (1.79) | 1.45 | (0.09) | (0.28) | 1.49 | |||||
Net realized and unrealized gain (loss) on foreign currency transactions | 0.00‡ | (0.00)‡ | — | — | — | — | |||||
Total from investment operations | 4.44 | (1.55) | 1.75 | 0.28 | — | 1.90 | |||||
Less distributions: | |||||||||||
From net investment income | (0.22) | (0.28) | (0.26) | (0.34) | (0.34) | (0.48) | |||||
From net realized gain on investments | — | (1.32) | (3.40) | (3.31) | (1.25) | (1.14) | |||||
Return of capital | (0.34) | (0.44) | — | — | — | — | |||||
Total distributions | (0.56) | (2.04) | (3.66) | (3.65) | (1.59) | (1.62) | |||||
Net asset value at end of period | $ 14.37 | $ 10.49 | $ 14.08 | $ 15.99 | $ 19.36 | $ 20.95 | |||||
Total investment return (b) | 43.19% | (13.54)% | 13.08% | 0.63% | 0.04% | 9.64% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 1.92% | 2.01%†† | 1.95% | 2.02% | 1.37% | 1.97% | |||||
Net expenses | 0.83% (c) | 0.84%†† (c)(d) | 0.91% | 0.91% | 0.90% | 0.90% | |||||
Expenses (before waiver/reimbursement) | 1.20% (c) | 1.04%†† (c)(d) | 0.97% | 0.92% | 0.90% | 0.90% | |||||
Portfolio turnover rate | 93% | 88% | 82% | 102% | 53% | 37% | |||||
Net assets at end of period (in 000's) | $ 202,597 | $ 232,730 | $ 166,056 | $ 311,814 | $ 723,538 | $ 1,003,433 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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 of less than 0.01%. (See Note 6) |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | |||||||||
Class R3 | 2021 | 2019 | 2018 | 2017 | 2016 | ||||||
Net asset value at beginning of period | $ 8.89 | $ 12.23 | $ 14.35 | $ 17.73 | $ 19.33 | $ 19.19 | |||||
Net investment income (loss) | 0.11(a) | 0.15(a) | 0.18 | 0.23(a) | 0.15 | 0.30(a) | |||||
Net realized and unrealized gain (loss) on investments | 3.59 | (1.51) | 1.28 | (0.06) | (0.27) | 1.35 | |||||
Net realized and unrealized gain (loss) on foreign currency transactions | 0.00‡ | (0.00)‡ | — | — | — | — | |||||
Total from investment operations | 3.70 | (1.36) | 1.46 | 0.17 | (0.12) | 1.65 | |||||
Less distributions: | |||||||||||
From net investment income | (0.19) | (0.23) | (0.18) | (0.24) | (0.23) | (0.37) | |||||
From net realized gain on investments | — | (1.32) | (3.40) | (3.31) | (1.25) | (1.14) | |||||
Return of capital | (0.31) | (0.43) | — | — | — | — | |||||
Total distributions | (0.50) | (1.98) | (3.58) | (3.55) | (1.48) | (1.51) | |||||
Net asset value at end of period | $ 12.09 | $ 8.89 | $ 12.23 | $ 14.35 | $ 17.73 | $ 19.33 | |||||
Total investment return (b) | 42.47% | (14.04)% | 12.43% | —% | (0.63)% | 9.00% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 1.14% | 1.42%†† | 1.36% | 1.43% | 0.77% | 1.59% | |||||
Net expenses | 1.43% (c) | 1.42%†† (c)(d) | 1.49% | 1.54% | 1.52% | 1.54% | |||||
Expenses (before waiver/reimbursement) | 1.80% (c) | 1.61%†† (c)(d) | 1.56% | 1.56% | 1.52% | 1.54% | |||||
Portfolio turnover rate | 93% | 88% | 82% | 102% | 53% | 37% | |||||
Net assets at end of period (in 000's) | $ 2,298 | $ 2,527 | $ 2,454 | $ 2,965 | $ 4,448 | $ 4,353 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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 of less than 0.01%. (See Note 6) |
20 | MainStay CBRE Real Estate Fund |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | |||||||||
Class R6 | 2021 | 2019 | 2018 | 2017 | 2016 | ||||||
Net asset value at beginning of period | $ 10.49 | $ 14.09 | $ 15.99 | $ 19.36 | $ 20.96 | $ 20.67 | |||||
Net investment income (loss) | 0.09(a) | 0.26(a) | 0.32 | 0.37(a) | 0.30(a) | 0.42 | |||||
Net realized and unrealized gain (loss) on investments | 4.36 | (1.80) | 1.45 | (0.08) | (0.30) | 1.51 | |||||
Net realized and unrealized gain (loss) on foreign currency transactions | 0.00‡ | (0.00)‡ | — | — | — | — | |||||
Total from investment operations | 4.45 | (1.54) | 1.77 | 0.29 | 0.00‡ | 1.93 | |||||
Less distributions: | |||||||||||
From net investment income | (0.22) | (0.30) | (0.27) | (0.35) | (0.35) | (0.50) | |||||
From net realized gain on investments | — | (1.32) | (3.40) | (3.31) | (1.25) | (1.14) | |||||
Return of capital | (0.35) | (0.44) | — | — | — | — | |||||
Total distributions | (0.57) | (2.06) | (3.67) | (3.66) | (1.60) | (1.64) | |||||
Net asset value at end of period | $ 14.37 | $ 10.49 | $ 14.09 | $ 15.99 | $ 19.36 | $ 20.96 | |||||
Total investment return (b) | 43.35% | (13.53)% | 13.24% | 0.69% | 0.03% | 9.76% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 0.80% | 2.06%†† | 2.05% | 2.12% | 1.47% | 2.05% | |||||
Net expenses | 0.74% (c) | 0.76%†† (c)(d) | 0.83% | 0.86% | 0.86% | 1% | |||||
Expenses (before waiver/reimbursement) | 0.84% (c) | 0.88%†† (c)(d) | 0.89% | 0.86% | 0.86% | 0.85% | |||||
Portfolio turnover rate | 93% | 88% | 82% | 102% | 53% | 37% | |||||
Net assets at end of period (in 000's) | $ 15,574 | $ 56,250 | $ 79,327 | $ 79,646 | $ 42,574 | $ 20,345 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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) | Net of interest expense of less than 0.01%. (See Note 6) |
Class | Commenced Operations |
Class A | December 20, 2002 |
Investor Class | February 24, 2020 |
Class C | January 17, 2003 |
Class I | December 31, 1996 |
Class R3 | February 24, 2020 |
Class R6 | July 3, 2014 |
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 CBRE Real Estate Fund |
• | Level 1—quoted prices in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including the Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
• 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 CBRE Real Estate Fund |
Class R3 | $ 2,307 |
Class | Expense | Waived |
Class A | $534,264 | $— |
Investor Class | 328 | — |
Class C | 40,463 | — |
Class I | 730,765 | — |
Class R3 | 8,075 | — |
Class R6 | 1,446 | — |
26 | MainStay CBRE Real Estate Fund |
Affiliated Investment Companies | Value, Beginning of Year | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Year | Dividend Income | Other Distributions | Shares End of Year |
MainStay U.S. Government Liquidity Fund | $ 1,483 | $ 97,232 | $ (96,293) | $ — | $ — | $ 2,422 | $ —(a) | $ — | 2,422 |
(a) | Less than $500. |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments | $272,349,769 | $137,940,742 | $(1,252,041) | $136,688,701 |
Ordinary income | Undistributed Tax Exempt Income | Accumulated Capital and Other Gain (Loss) | Other Temporary Differences | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
$— | $— | $(4,075,359) | $(88,515) | $136,697,937 | $132,534,063 |
Total Distributable Earnings (Loss) | Additional Paid-In Capital | |
$(18,548,455) | $18,548,455 |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $4,075,359 | $— |
2021 | 2020 (a) | 2019 | |
Distributions paid from: | |||
Ordinary Income | $ 6,950,921 | $ 8,694,492 | $ 7,797,337 |
Long-Term Capital Gains | — | 33,220,524 | 109,707,907 |
Return of Capital | 10,993,387 | 11,459,429 | — |
Total | $17,944,308 | $53,374,445 | $117,505,244 |
(a) | The Fund changed its fiscal year end from May 31 to April 30. |
Class A | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 1,912,007 | $ 19,807,123 |
Shares issued to shareholders in reinvestment of distributions | 672,786 | 7,133,203 |
Shares redeemed | (4,784,088) | (48,087,615) |
Net increase (decrease) in shares outstanding before conversion | (2,199,295) | (21,147,289) |
Shares converted into Class A (See Note 1) | 25,910 | 279,015 |
Shares converted from Class A (See Note 1) | (6,838) | (66,723) |
Net increase (decrease) | (2,180,223) | $ (20,934,997) |
Period ended April 30, 2020:(a) | ||
Shares sold | 1,279,592 | $ 14,459,791 |
Shares issued in connection with the acquisition of Voya Global Real Estate Fund | 10,862,553 | 132,240,719 |
Shares issued to shareholders in reinvestment of distributions | 1,170,854 | 12,886,821 |
Shares redeemed | (3,865,185) | (42,186,914) |
Net increase (decrease) in shares outstanding before conversion | 9,447,814 | 117,400,417 |
Shares converted into Class A (See Note 1) | 76,971 | 986,054 |
Shares converted from Class A (See Note 1) | (28,491) | (250,924) |
Net increase (decrease) | 9,496,294 | $ 118,135,547 |
Year ended May 31, 2019: | ||
Shares sold | 2,965,027 | $ 40,136,779 |
Shares issued to shareholders in reinvestment of distributions | 1,832,255 | 21,201,439 |
Shares redeemed | (3,217,267) | (42,408,705) |
Net increase (decrease) | 1,580,015 | $ 18,929,513 |
Investor Class | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 7,160 | $ 73,066 |
Shares issued to shareholders in reinvestment of distributions | 610 | 6,456 |
Shares redeemed | (3,999) | (40,668) |
Net increase (decrease) in shares outstanding before conversion | 3,771 | 38,854 |
Shares converted into Investor Class (See Note 1) | 2,878 | 30,136 |
Shares converted from Investor Class (See Note 1) | (5,275) | (58,778) |
Net increase (decrease) | 1,374 | $ 10,212 |
Period ended April 30, 2020:(b) | ||
Shares sold | 5,227 | $ 55,122 |
Shares issued to shareholders in reinvestment of distributions | 28 | 232 |
Net increase (decrease) in shares outstanding before conversion | 5,255 | 55,354 |
Shares converted into Investor Class (See Note 1) | 6,241 | 55,033 |
Net increase (decrease) | 11,496 | $ 110,387 |
28 | MainStay CBRE Real Estate Fund |
Class C | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 13,736 | $ 156,509 |
Shares issued to shareholders in reinvestment of distributions | 30,443 | 355,098 |
Shares redeemed | (1,384,178) | (15,699,229) |
Net increase (decrease) in shares outstanding before conversion | (1,339,999) | (15,187,622) |
Shares converted from Class C (See Note 1) | (15,974) | (183,802) |
Net increase (decrease) | (1,355,973) | $ (15,371,424) |
Period ended April 30, 2020:(a) | ||
Shares sold | 53,330 | $ 700,758 |
Shares issued in connection with the acquisition of Voya Global Real Estate Fund | 1,778,849 | 24,032,600 |
Shares issued to shareholders in reinvestment of distributions | 91,984 | 1,119,154 |
Shares redeemed | (646,944) | (7,571,941) |
Net increase (decrease) in shares outstanding before conversion | 1,277,219 | 18,280,571 |
Shares converted from Class C (See Note 1) | (6,901) | (72,969) |
Net increase (decrease) | 1,270,318 | $ 18,207,602 |
Year ended May 31, 2019: | ||
Shares sold | 150,093 | $ 1,909,696 |
Shares issued to shareholders in reinvestment of distributions | 162,526 | 2,050,944 |
Shares redeemed | (351,064) | (4,983,427) |
Net increase (decrease) | (38,445) | $ (1,022,787) |
Class I | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 1,623,062 | $ 18,603,965 |
Shares issued to shareholders in reinvestment of distributions | 659,645 | 8,105,294 |
Shares redeemed | (10,376,512) | (120,614,824) |
Net increase (decrease) in shares outstanding before conversion | (8,093,805) | (93,905,565) |
Shares converted into Class I (See Note 1) | 5,839 | 66,724 |
Net increase (decrease) | (8,087,966) | $ (93,838,841) |
Period ended April 30, 2020:(a) | ||
Shares sold | 2,855,713 | $ 38,263,825 |
Shares issued in connection with the acquisition of Voya Global Real Estate Fund | 14,928,722 | 212,295,388 |
Shares issued to shareholders in reinvestment of distributions | 1,766,919 | 22,773,079 |
Shares redeemed | (10,196,442) | (126,175,668) |
Net increase (decrease) in shares outstanding before conversion | 9,354,912 | 147,156,624 |
Shares converted into Class I (See Note 1) | 1,044,599 | 14,780,362 |
Net increase (decrease) | 10,399,511 | $ 161,936,986 |
Year ended May 31, 2019: | ||
Shares sold | 2,221,379 | $ 32,219,821 |
Shares issued to shareholders in reinvestment of distributions | 2,956,600 | 39,218,327 |
Shares redeemed | (12,890,706) | (199,210,519) |
Net increase (decrease) | (7,712,727) | $(127,772,371) |
Class O(c) | Shares | Amount |
Period ended April 30, 2020: | ||
Shares sold | 574 | $ 7,701 |
Shares issued to shareholders in reinvestment of distributions | 901 | 11,489 |
Shares redeemed | (1,541) | (19,997) |
Net increase (decrease) in shares outstanding before conversion | (66) | (807) |
Shares converted from Class O (See Note 1) | (69,360) | (913,477) |
Net increase (decrease) | (69,426) | $ (914,284) |
Year ended May 31, 2019: | ||
Shares sold | 24,037 | $ 359,109 |
Shares issued to shareholders in reinvestment of distributions | 16,489 | 191,373 |
Shares redeemed | (1,979,386) | (27,747,247) |
Net increase (decrease) | (1,938,860) | $ (27,196,765) |
Class P3(d) | Shares | Amount |
Period ended April 30, 2020: | ||
Shares sold | — ^ | $ (3,282) |
Shares issued to shareholders in reinvestment of distributions | 1 | (676) |
Shares redeemed | (238) | — * |
Net increase (decrease) | (237) | $ (3,958) |
Year ended May 31, 2019:(e) | ||
Shares sold | 186 | $ 3,000 |
Shares issued to shareholders in reinvestment of distributions | 51 | 676 |
Net increase (decrease) | 237 | $ 3,676 |
Class W(f) | Shares | Amount |
Period ended April 30, 2020: | ||
Shares sold | 104,784 | $ 1,872,287 |
Shares issued to shareholders in reinvestment of distributions | 106,712 | 1,769,915 |
Shares redeemed | (401,959) | (7,007,707) |
Net increase (decrease) in shares outstanding before conversion | (190,463) | (3,365,505) |
Shares converted into Class W (See Note 1) | (813,053) | (14,584,079) |
Net increase (decrease) | (1,003,516) | $ (17,949,584) |
Year ended May 31, 2019: | ||
Shares sold | 175,673 | $ 3,030,565 |
Shares issued to shareholders in reinvestment of distributions | 260,533 | 4,210,664 |
Shares redeemed | (819,733) | (14,017,042) |
Net increase (decrease) | (383,527) | $ (6,775,813) |
Class R3(g) | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 37,067 | $ 373,204 |
Shares issued to shareholders in reinvestment of distributions | 8,854 | 92,818 |
Shares redeemed | (134,032) | (1,314,154) |
Net increase (decrease) in shares outstanding before conversion | (88,111) | (848,132) |
Shares converted from Class R3 (See Note 1) | (5,845) | (66,572) |
Net increase (decrease) | (93,956) | $ (914,704) |
Period ended April 30, 2020:(a) | ||
Shares sold | 52,424 | $ 597,248 |
Shares issued in connection with the acquisition of Voya Global Real Estate Fund | 123,116 | 1,486,187 |
Shares issued to shareholders in reinvestment of distributions | 20,361 | 223,752 |
Shares redeemed | (112,370) | (1,269,388) |
Net increase (decrease) | 83,531 | $ 1,037,799 |
Year ended May 31, 2019: | ||
Shares sold | 94,242 | $ 1,190,537 |
Shares issued to shareholders in reinvestment of distributions | 30,817 | 355,082 |
Shares redeemed | (131,034) | (1,687,215) |
Net increase (decrease) | (5,975) | $ (141,596) |
30 | MainStay CBRE Real Estate Fund |
Class R6 | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 398,765 | $ 4,618,601 |
Shares issued to shareholders in reinvestment of distributions | 94,137 | 1,095,377 |
Shares redeemed | (4,771,047) | (56,184,816) |
Net increase (decrease) | (4,278,145) | $ (50,470,838) |
Period ended April 30, 2020:(a) | ||
Shares sold | 1,023,400 | $ 14,069,509 |
Shares issued in connection with the acquisition of Voya Global Real Estate Fund | 452,467 | 6,436,845 |
Shares issued to shareholders in reinvestment of distributions | 924,406 | 12,038,717 |
Shares redeemed | (2,668,546) | (29,672,559) |
Net increase (decrease) | (268,273) | $ 2,872,512 |
Year ended May 31, 2019: | ||
Shares sold | 813,449 | $ 11,884,842 |
Shares issued to shareholders in reinvestment of distributions | 1,300,167 | 17,224,707 |
Shares redeemed | (1,463,528) | (21,318,274) |
Net increase (decrease) | 650,088 | $ 7,791,275 |
^ | Less than one share. |
* | Less than one dollar. |
(a) | The Fund changed its fiscal year end from May 31 to April 30. |
(b) | The Inception date of the Investor Class was February 24, 2020. |
(c) | Class O converted to Class A on November 22, 2019. |
(d) | Class P3 liquidated on November 22, 2019. |
(e) | The inception date of the class was June 4, 2018. |
(f) | Class W converted to Class I on February 21, 2020. |
(g) | Prior to February 24, 2020, known as Class R. |
Before Reorganization | After Reorganization | |||
Voya Global Real Estate Fund | MainStay CBRE Real Estate Fund | MainStay CBRE Real Estate Fund | ||
Net Assets: | ||||
Class A | $132,240,719 | $ 86,912,500 | $219,153,219 | |
Class C | 24,032,600 | 8,188,352 | 32,220,952 | |
Class I | 164,108,502 | 145,142,140 | 309,250,642 | |
Class R3* | 1,486,187 | 2,116,508 | 3,602,695 | |
Class R6 | 6,436,845 | 91,584,249 | 98,021,094 | |
Class W** | 48,186,886 | 14,584,079 | 62,770,965 | |
Shares Outstanding: | ||||
Class A | 9,990,267 | 7,139,167 | 18,001,720 | |
Class C | 2,489,035 | 606,085 | 2,384,934 | |
Class I | 12,426,651 | 10,206,418 | 21,746,614 | |
Class R3* | 113,055 | 175,332 | 298,448 | |
Class R6 | 487,598 | 6,437,756 | 6,890,223 | |
Class W** | 3,634,262 | 813,054 | 4,414,087 | |
Net Asset Value Per Share Outstanding: | ||||
Class A | $ 13.24 | $ 12.17 | $ 12.17 | |
Class C | $ 9.66 | $ 13.51 | $ 13.51 | |
Class I | $ 13.21 | $ 14.22 | $ 14.22 | |
Class R3* | $ 13.15 | $ 12.07 | $ 12.07 | |
Class R6 | $ 13.20 | $ 14.23 | $ 14.23 | |
Class W** | $ 13.26 | $ 17.94 | $ 14.22 | |
Total distributable earnings (loss) | $ 74,730,316 | $127,231,327 | $201,764,866 |
* | Prior to February 24, 2020, known as Class R. |
** | Class W converted to Class I on February 21, 2020. |
Net investment income (loss) | $ 9,786,523 |
Net realized and unrealized gain (loss) | (1,586,749) |
Net change in net assets resulting from operations | $ 8,199,774 |
32 | MainStay CBRE Real Estate Fund |
MainStay Funds Trust:
June 24, 2021
34 | MainStay CBRE Real Estate Fund |
36 | MainStay CBRE Real Estate Fund |
38 | MainStay CBRE Real Estate Fund |
40 | MainStay CBRE Real Estate Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 76 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017 |
* | This Trustee is considered to be an “interested person” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund, within the meaning of the 1940 Act because of her affiliation with New York Life Insurance Company, New York Life Investment Management LLC, Candriam Belgium S.A., Candriam Luxembourg S.C.A., IndexIQ Advisors LLC, MacKay Shields LLC, NYL Investors LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail above in the column entitled “Principal Occupation(s) During Past Five Years.” |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Market Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, Chair of the Investment Committee since 2018 | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007;MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 76 | MainStay VP Funds Trust: Chairman since 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee;MainStay Funds Trust: Trustee and Audit Committee Financial Expert since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 76 | MainStay VP Funds Trust: Trustee and Audit Committee Financial Expert since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee and Audit Committee Financial Expert since 2011; State Farm Associates Funds Trusts: Trustee since 2005 (4 portfolios) | |
Richard H. Nolan, Jr. 1946 | MainStay Funds: Trustee since 2007;MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 76 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC (since 2018); President, Fidelity Management & Research Company (2009 to 2014); Founder, President and Chief Executive Officer, Geode Capital Management, LLC (2001 to 2009) | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI Inc.: Director since 2017 |
42 | MainStay CBRE Real Estate Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994;MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 76 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 |
** | Includes prior service as a Director/Trustee of certain predecessor entities to MainStay Funds Trust. |
*** | Includes prior service as a Director of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds and MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers since 2017 and Senior Managing Director since 2018, NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017**; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2007**; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2010** | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2005** | ||
Yi-Chia Kuo 1981 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2020 | Chief Compliance Officer, Index IQ Trust, Index IQ ETF Trust and Index IQ Active ETF Trust since 2020; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2020; Director and Associate General Counsel, New York Life Insurance Company (2015 to 2019) |
* | The officers listed above are considered to be “interested persons” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund within the meaning of the 1940 Act because of their affiliation with the MainStay Group of Funds, New York Life Insurance Company and/or its affiliates, including New York Life Investment Management LLC, NYLIM Service Company LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail in the column captioned “Principal Occupation(s) During Past Five Years.” Officers are elected annually by the Board. |
** | Includes prior service as an Officer of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
44 | MainStay CBRE Real Estate Fund |
1.
2. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
3. | An affiliate of New York Life Investment Management LLC. |
1856716MS071-21 | MSCBRE11-06/21 |
MainStay Defensive ETF Allocation Fund |
MainStay Conservative ETF Allocation Fund |
MainStay Moderate ETF Allocation Fund |
MainStay Growth ETF Allocation Fund |
MainStay Equity ETF Allocation Fund |
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 |
President
Average Annual Total Returns for the Period-Ended April 30, 2021 | |||||
Class | Sales Charge | Inception Date | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | 2.22% | 1.33% |
Excluding sales charges | 5.38 | 1.33 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | 3.85 | 2.08 |
if redeemed Within One Year of Purchase | Excluding sales charges | 4.85 | 2.08 | ||
Class I Shares | No Sales Charge | 6/30/2020 | 5.65 | 1.08 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | 5.18 | 1.68 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | 2.56 | 1.58 |
1. | 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. |
Benchmark Performance | Since Inception |
S&P 500® Index1 | 36.63% |
MSCI EAFE® Index (Net)2 | 29.63 |
Bloomberg Barclays U.S. Aggregate Bond Index3 | -1.35 |
Defensive Allocation Composite Index4 | 5.25 |
Morningstar Allocation - 15% to 30% Equity Category Average5 | 9.85 |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. “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. |
2. | 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. |
3. | The Fund has selected the Bloomberg Barclays U.S. Aggregate Bond Index as an additional benchmark. The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based benchmark that measures 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 Defensive Allocation Composite Index as an additional benchmark. The Defensive Allocation Composite Index consists of the S&P 500® Index, the MSCI EAFE® Index and the Bloomberg Barclays U.S. Aggregate Bond Index weighted 15%, 5% and 80%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | The Morningstar Allocation – 15% to 30% Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 15% and 30%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay Defensive ETF Allocation Fund |
Share Class | Beginning Account Value 11/1/20 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/21 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/21 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,045.50 | $4.06 | $1,020.83 | $4.01 | 0.80% |
Class C Shares | $1,000.00 | $1,043.20 | $7.85 | $1,017.11 | $7.75 | 1.55% |
Class I Shares | $1,000.00 | $1,047.50 | $2.79 | $1,022.07 | $2.76 | 0.55% |
Class R3 Shares | $1,000.00 | $1,045.40 | $5.83 | $1,019.09 | $5.76 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $1,044.60 | $5.32 | $1,019.59 | $5.26 | 1.05% |
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. |
Equity Funds | 21.2 % |
Fixed Income Funds | 75.9 |
Short-Term Investments | 19.3 |
Other Assets, Less Liabilities | (16.4) |
8 | MainStay Defensive ETF Allocation Fund |
1. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns. |
2. | Beta is a measure of volatility in relation to the market as a whole. A beta higher than 1 indicates that a security or portfolio will tend to exhibit higher volatility than the market. A beta lower than 1 indicates that a security or portfolio will tend to exhibit lower volatility than the market. |
3. | The terms “spread” and “yield spread” may refer to the difference in yield between a security or type of security and comparable U.S. Treasury issues. The terms may also refer to the difference in yield between two specific securities or types of securities at a given time. |
4. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
10 | MainStay Defensive ETF Allocation Fund |
Shares | Value | ||
Investment Companies 97.1% | |||
Equity Funds 21.2% | |||
iShares Core MSCI EAFE ETF | 10,799 | $ 802,474 | |
iShares Core MSCI Emerging Markets ETF | 1,623 | 106,258 | |
iShares Core S&P Mid-Cap ETF | 109 | 29,622 | |
iShares Core S&P Small-Cap ETF | 239 | 26,419 | |
Schwab U.S. Mid-Cap ETF | 1,327 | 103,665 | |
Schwab U.S. Small-Cap ETF (a) | 784 | 80,321 | |
VanEck Vectors Gold Miners ETF | 4,624 | 158,880 | |
Vanguard Mega Cap ETF | 366 | 54,106 | |
Vanguard Mega Cap Value ETF (a) | 6,643 | 652,608 | |
Vanguard Mid-Cap ETF | 1,280 | 296,998 | |
Total Equity Funds (Cost $2,019,483) | 2,311,351 | ||
Fixed Income Funds 75.9% | |||
Invesco Senior Loan ETF | 34,323 | 760,254 | |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 24,801 | 1,139,110 | |
iShares Broad USD High Yield Corporate Bond ETF | 2,620 | 108,442 | |
iShares Broad USD Investment Grade Corporate Bond ETF | 20,814 | 1,239,474 | |
iShares Core U.S. Aggregate Bond ETF | 21,640 | 2,477,564 | |
Schwab U.S. Aggregate Bond ETF | 45,682 | 2,479,162 | |
Vanguard Short-Term Bond ETF | 658 | 54,160 | |
Total Fixed Income Funds (Cost $8,334,601) | 8,258,166 | ||
Total Investment Companies (Cost $10,354,084) | 10,569,517 | ||
Short-Term Investments 19.3% | |||
Affiliated Investment Company 2.7% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (b) | 291,883 | 291,883 | |
Total Affiliated Investment Company (Cost $291,883) | 291,883 | ||
Unaffiliated Investment Company 16.6% | |||
BlackRock Liquidity FedFund, 0.05% (b)(c) | 1,806,172 | 1,806,172 | |
Total Unaffiliated Investment Company (Cost $1,806,172) | 1,806,172 | ||
Total Short-Term Investments (Cost $2,098,055) | 2,098,055 | ||
Total Investments (Cost $12,452,139) | 116.4% | 12,667,572 | |
Other Assets, Less Liabilities | (16.4) | (1,787,011) | |
Net Assets | 100.0% | $ 10,880,561 |
12 | MainStay Defensive ETF Allocation Fund |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2021, the aggregate market value of securities on loan was $1,766,206. The Fund received cash collateral with a value of $1,806,172. (See Note 2(H)) |
(b) | Current yield as of April 30, 2021. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
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) | |||||||
Investment Companies | |||||||
Equity Funds | $ 2,311,351 | $ — | $ — | $ 2,311,351 | |||
Fixed Income Funds | 8,258,166 | — | — | 8,258,166 | |||
Total Investment Companies | 10,569,517 | — | — | 10,569,517 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 291,883 | — | — | 291,883 | |||
Unaffiliated Investment Company | 1,806,172 | — | — | 1,806,172 | |||
Total Short-Term Investments | 2,098,055 | — | — | 2,098,055 | |||
Total Investments in Securities | $ 12,667,572 | $ — | $ — | $ 12,667,572 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $12,160,256) including securities on loan of $1,766,206 | $12,375,689 |
Investment in affiliated investment companies, at value (identified cost $291,883) | 291,883 |
Receivables: | |
Fund shares sold | 71,281 |
Manager (See Note 3) | 5,908 |
Securities lending | 1,023 |
Interest | 2 |
Other assets | 16,940 |
Total assets | 12,762,726 |
Liabilities | |
Cash collateral received for securities on loan | 1,806,172 |
Payables: | |
Fund shares redeemed | 34,216 |
Investment securities purchased | 16,998 |
Transfer agent (See Note 3) | 6,653 |
Custodian | 5,974 |
Professional fees | 4,370 |
Shareholder communication | 3,516 |
NYLIFE Distributors (See Note 3) | 1,971 |
Trustees | 416 |
Accrued expenses | 1,879 |
Total liabilities | 1,882,165 |
Net assets | $10,880,561 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 1,042 |
Additional paid-in-capital | 10,625,067 |
10,626,109 | |
Total distributable earnings (loss) | 254,452 |
Net assets | $10,880,561 |
Class A | |
Net assets applicable to outstanding shares | $8,572,480 |
Shares of beneficial interest outstanding | 820,821 |
Net asset value per share outstanding | $ 10.44 |
Maximum sales charge (3.00% of offering price) | 0.32 |
Maximum offering price per share outstanding | $ 10.76 |
Class C | |
Net assets applicable to outstanding shares | $ 162,007 |
Shares of beneficial interest outstanding | 15,522 |
Net asset value and offering price per share outstanding | $ 10.44 |
Class I | |
Net assets applicable to outstanding shares | $2,039,993 |
Shares of beneficial interest outstanding | 195,355 |
Net asset value and offering price per share outstanding | $ 10.44 |
Class R3 | |
Net assets applicable to outstanding shares | $ 26,259 |
Shares of beneficial interest outstanding | 2,516 |
Net asset value and offering price per share outstanding | $ 10.44 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 79,822 |
Shares of beneficial interest outstanding | 7,645 |
Net asset value and offering price per share outstanding | $ 10.44 |
14 | MainStay Defensive ETF Allocation Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 144,302 |
Securities lending | 3,916 |
Dividends-affiliated | 3 |
Other | 113 |
Total income | 148,334 |
Expenses | |
Offering (See Note 2) | 68,883 |
Registration | 17,169 |
Custodian | 13,516 |
Distribution/Service—Class A (See Note 3) | 11,571 |
Distribution/Service—Class C (See Note 3) | 1,601 |
Distribution/Service—Class R3 (See Note 3) | 108 |
Distribution/Service—SIMPLE Class (See Note 3) | 125 |
Manager (See Note 3) | 12,989 |
Transfer agent (See Note 3) | 8,326 |
Professional fees | 7,764 |
Shareholder communication | 3,587 |
Trustees | 563 |
Shareholder service (See Note 3) | 21 |
Miscellaneous | 4,574 |
Total expenses before waiver/reimbursement | 150,797 |
Expense waiver/reimbursement from Manager (See Note 3) | (101,644) |
Net expenses | 49,153 |
Net investment income (loss) | 99,181 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on investments | 26,414 |
Net change in unrealized appreciation (depreciation) on investments | 215,433 |
Net realized and unrealized gain (loss) | 241,847 |
Net increase (decrease) in net assets resulting from operations | $ 341,028 |
for the period June 30, 2020 (inception date) through April 30, 2021
2021 | |
Increase (Decrease) in Net Assets | |
Operations: | |
Net investment income (loss) | $ 99,181 |
Net realized gain (loss) | 26,414 |
Net change in unrealized appreciation (depreciation) | 215,433 |
Net increase (decrease) in net assets resulting from operations | 341,028 |
Distributions to shareholders: | |
Class A | (62,743) |
Class C | (988) |
Class I | (23,793) |
Class R3 | (193) |
SIMPLE Class | (265) |
Total distributions to shareholders | (87,982) |
Capital share transactions: | |
Net proceeds from sales of shares | 12,883,529 |
Net asset value of shares issued to shareholder in reinvestment of distributions | 82,561 |
Cost of shares redeemed | (2,338,575) |
Increase (decrease) in net assets derived from capital share transactions | 10,627,515 |
Net increase (decrease) in net assets | 10,880,561 |
Net Assets | |
Beginning of period | — |
End of period | $10,880,561 |
16 | MainStay Defensive ETF Allocation Fund |
June 30, 2020^ through April 30, | |
Class A | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.13 |
Net realized and unrealized gain (loss) on investments | 0.41 |
Total from investment operations | 0.54 |
Less distributions: | |
From net investment income | (0.10) |
Net asset value at end of period | $ 10.44 |
Total investment return (b) | 5.38% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.45% |
Net expenses†† (c) | 0.80% |
Expenses (before waiver/reimbursement)†† (c) | 2.36% |
Portfolio turnover rate | 69% |
Net assets at end of period (in 000’s) | $ 8,572 |
^ | 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. |
June 30, 2020^ through April 30, | |
Class C | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.06 |
Net realized and unrealized gain (loss) on investments | 0.43 |
Total from investment operations | 0.49 |
Less distributions: | |
From net investment income | (0.05) |
Net asset value at end of period | $ 10.44 |
Total investment return (b) | 4.85% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.74% |
Net expenses†† (c) | 1.55% |
Expenses (before waiver/reimbursement)†† (c) | 3.13% |
Portfolio turnover rate | 69% |
Net assets at end of period (in 000’s) | $ 162 |
^ | 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. |
June 30, 2020^ through April 30, | |
Class I | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.16 |
Net realized and unrealized gain (loss) on investments | 0.40 |
Total from investment operations | 0.56 |
Less distributions: | |
From net investment income | (0.12) |
Net asset value at end of period | $ 10.44 |
Total investment return (b) | 5.65% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.82% |
Net expenses†† (c) | 0.55% |
Expenses (before waiver/reimbursement)†† (c) | 2.11% |
Portfolio turnover rate | 69% |
Net assets at end of period (in 000’s) | $ 2,040 |
^ | 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 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. |
June 30, 2020^ through April 30, | |
Class R3 | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.11 |
Net realized and unrealized gain (loss) on investments | 0.41 |
Total from investment operations | 0.52 |
Less distributions: | |
From net investment income | (0.08) |
Net asset value at end of period | $ 10.44 |
Total investment return (b) | 5.18% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.22% |
Net expenses†† (c) | 1.15% |
Expenses (before waiver/reimbursement)†† (c) | 2.71% |
Portfolio turnover rate | 69% |
Net assets at end of period (in 000’s) | $ 26 |
^ | 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 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 Defensive ETF Allocation Fund |
August 31, 2020^ through April 30, | |
SIMPLE Class | 2021 |
Net asset value at beginning of period | $ 10.26 |
Net investment income (loss) (a) | 0.10 |
Net realized and unrealized gain (loss) on investments | 0.16 |
Total from investment operations | 0.26 |
Less distributions: | |
From net investment income | (0.08) |
Net asset value at end of period | $ 10.44 |
Total investment return (b) | 2.56% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.13% |
Net expenses†† (c) | 1.05% |
Expenses (before waiver/reimbursement)†† (c) | 2.63% |
Portfolio turnover rate | 69% |
Net assets at end of period (in 000’s) | $ 80 |
^ | 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. |
Average Annual Total Returns for the Period-Ended April 30, 2021 | |||||
Class | Sales Charge | Inception Date | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | 8.96% | 1.33% |
Excluding sales charges | 12.33 | 1.33 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | 10.51 | 2.08 |
if redeemed Within One Year of Purchase | Excluding sales charges | 11.51 | 2.08 | ||
Class I Shares | No Sales Charge | 6/30/2020 | 12.47 | 1.08 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | 11.96 | 1.68 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | 7.13 | 1.58 |
1. | 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. |
20 | MainStay Conservative ETF Allocation Fund |
Benchmark Performance | Since Inception |
S&P 500® Index1 | 36.63% |
MSCI EAFE® Index (Net)2 | 29.63 |
Bloomberg Barclays U.S. Aggregate Bond Index3 | -1.35 |
Conservative Allocation Composite Index4 | 12.16 |
Morningstar Allocation - 30% to 50% Equity Category Average5 | 16.36 |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. “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. |
2. | 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. |
3. | The Fund has selected the Bloomberg Barclays U.S. Aggregate Bond Index as an additional benchmark. The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based benchmark that measures 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 Conservative Allocation Composite Index as an additional benchmark. The Conservative Allocation Composite Index consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg Barclays U.S. Aggregate Bond Index weighted 30%, 10% and 60%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | The Morningstar Allocation – 30% to 50% Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 30% and 50%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
Share Class | Beginning Account Value 11/1/20 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/21 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/21 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,102.70 | $4.17 | $1,020.83 | $4.01 | 0.80% |
Class C Shares | $1,000.00 | $1,097.50 | $8.06 | $1,017.11 | $7.75 | 1.55% |
Class I Shares | $1,000.00 | $1,102.30 | $2.87 | $1,022.07 | $2.76 | 0.55% |
Class R3 Shares | $1,000.00 | $1,100.00 | $5.99 | $1,019.09 | $5.76 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $1,100.80 | $5.47 | $1,019.59 | $5.26 | 1.05% |
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. |
22 | MainStay Conservative ETF Allocation Fund |
Equity Funds | 41.2 % |
Fixed Income Funds | 56.2 |
Short-Term Investments | 12.8 |
Other Assets, Less Liabilities | (10.2) |
1. | See page 20 for other share class returns, which may be higher or lower than Class I share returns. See page 21 for more information on benchmark and peer group returns. |
2. | Beta is a measure of volatility in relation to the market as a whole. A beta higher than 1 indicates that a security or portfolio will tend to exhibit higher volatility than the market. A beta lower than 1 indicates that a security or portfolio will tend to exhibit lower volatility than the market. |
3. | The terms “spread” and “yield spread” may refer to the difference in yield between a security or type of security and comparable U.S. Treasury issues. The terms may also refer to the difference in yield between two specific securities or types of securities at a given time. |
24 | MainStay Conservative ETF Allocation Fund |
4. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
26 | MainStay Conservative ETF Allocation Fund |
Shares | Value | ||
Investment Companies 97.4% | |||
Equity Funds 41.2% | |||
iShares Core MSCI EAFE ETF | 36,258 | $ 2,694,332 | |
iShares Core MSCI Emerging Markets ETF | 9,328 | 610,704 | |
iShares Core S&P Mid-Cap ETF | 500 | 135,880 | |
iShares Core S&P Small-Cap ETF | 1,102 | 121,815 | |
Schwab U.S. Mid-Cap ETF (a) | 6,109 | 477,235 | |
Schwab U.S. Small-Cap ETF | 3,634 | 372,303 | |
VanEck Vectors Gold Miners ETF | 10,517 | 361,364 | |
Vanguard Mega Cap ETF | 17,460 | 2,581,112 | |
Vanguard Mega Cap Value ETF | 15,099 | 1,483,326 | |
Vanguard Mid-Cap ETF | 5,850 | 1,357,376 | |
Total Equity Funds (Cost $8,625,333) | 10,195,447 | ||
Fixed Income Funds 56.2% | |||
Invesco Senior Loan ETF | 50,189 | 1,111,686 | |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 43,238 | 1,985,921 | |
iShares Broad USD High Yield Corporate Bond ETF (a) | 5,997 | 248,216 | |
iShares Broad USD Investment Grade Corporate Bond ETF | 35,075 | 2,088,716 | |
iShares Core U.S. Aggregate Bond ETF | 36,465 | 4,174,878 | |
Schwab U.S. Aggregate Bond ETF (a) | 76,975 | 4,177,433 | |
Vanguard Short-Term Bond ETF | 1,508 | 124,124 | |
Total Fixed Income Funds (Cost $14,025,073) | 13,910,974 | ||
Total Investment Companies (Cost $22,650,406) | 24,106,421 | ||
Short-Term Investments 12.8% | |||
Affiliated Investment Company 2.8% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (b) | 707,574 | 707,574 | |
Total Affiliated Investment Company (Cost $707,574) | 707,574 | ||
Unaffiliated Investment Company 10.0% | |||
BlackRock Liquidity FedFund, 0.05% (b)(c) | 2,466,228 | 2,466,228 | |
Total Unaffiliated Investment Company (Cost $2,466,228) | 2,466,228 | ||
Total Short-Term Investments (Cost $3,173,802) | 3,173,802 | ||
Total Investments (Cost $25,824,208) | 110.2% | 27,280,223 | |
Other Assets, Less Liabilities | (10.2) | (2,532,871) | |
Net Assets | 100.0% | $ 24,747,352 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2021, the aggregate market value of securities on loan was $2,415,668. The Fund received cash collateral with a value of $2,466,228. (See Note 2(H)) |
(b) | Current yield as of April 30, 2021. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
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) | |||||||
Investment Companies | |||||||
Equity Funds | $ 10,195,447 | $ — | $ — | $ 10,195,447 | |||
Fixed Income Funds | 13,910,974 | — | — | 13,910,974 | |||
Total Investment Companies | 24,106,421 | — | — | 24,106,421 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 707,574 | — | — | 707,574 | |||
Unaffiliated Investment Company | 2,466,228 | — | — | 2,466,228 | |||
Total Short-Term Investments | 3,173,802 | — | — | 3,173,802 | |||
Total Investments in Securities | $ 27,280,223 | $ — | $ — | $ 27,280,223 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
28 | MainStay Conservative ETF Allocation Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $25,116,634) including securities on loan of $2,415,668 | $26,572,649 |
Investment in affiliated investment companies, at value (identified cost $707,574) | 707,574 |
Receivables: | |
Fund shares sold | 33,563 |
Securities lending | 1,815 |
Manager (See Note 3) | 259 |
Interest | 6 |
Other assets | 17,033 |
Total assets | 27,332,899 |
Liabilities | |
Cash collateral received for securities on loan | 2,466,228 |
Due to custodian | 24 |
Payables: | |
Investment securities purchased | 88,416 |
Transfer agent (See Note 3) | 11,156 |
NYLIFE Distributors (See Note 3) | 5,257 |
Custodian | 4,510 |
Professional fees | 4,318 |
Shareholder communication | 3,488 |
Trustees | 277 |
Accrued expenses | 1,873 |
Total liabilities | 2,585,547 |
Net assets | $24,747,352 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 2,224 |
Additional paid-in-capital | 23,318,823 |
23,321,047 | |
Total distributable earnings (loss) | 1,426,305 |
Net assets | $24,747,352 |
Class A | |
Net assets applicable to outstanding shares | $23,951,391 |
Shares of beneficial interest outstanding | 2,152,734 |
Net asset value per share outstanding | $ 11.13 |
Maximum sales charge (3.00% of offering price) | 0.34 |
Maximum offering price per share outstanding | $ 11.47 |
Class C | |
Net assets applicable to outstanding shares | $ 472,081 |
Shares of beneficial interest outstanding | 42,521 |
Net asset value and offering price per share outstanding | $ 11.10 |
Class I | |
Net assets applicable to outstanding shares | $ 61,366 |
Shares of beneficial interest outstanding | 5,516 |
Net asset value and offering price per share outstanding | $ 11.13 |
Class R3 | |
Net assets applicable to outstanding shares | $ 67,927 |
Shares of beneficial interest outstanding | 6,111 |
Net asset value and offering price per share outstanding | $ 11.12 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 194,587 |
Shares of beneficial interest outstanding | 17,502 |
Net asset value and offering price per share outstanding | $ 11.12 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 258,013 |
Securities lending | 9,453 |
Interest | 121 |
Dividends-affiliated | 7 |
Total income | 267,594 |
Expenses | |
Offering (See Note 2) | 68,325 |
Distribution/Service—Class A (See Note 3) | 27,463 |
Distribution/Service—Class C (See Note 3) | 2,285 |
Distribution/Service—Class R3 (See Note 3) | 182 |
Distribution/Service—SIMPLE Class (See Note 3) | 200 |
Manager (See Note 3) | 25,727 |
Registration | 20,260 |
Transfer agent (See Note 3) | 15,319 |
Custodian | 13,272 |
Professional fees | 7,899 |
Shareholder communication | 3,587 |
Trustees | 562 |
Shareholder service (See Note 3) | 36 |
Miscellaneous | 4,680 |
Total expenses before waiver/reimbursement | 189,797 |
Expense waiver/reimbursement from Manager (See Note 3) | (88,864) |
Net expenses | 100,933 |
Net investment income (loss) | 166,661 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on investments | (30,925) |
Net change in unrealized appreciation (depreciation) on investments | 1,456,015 |
Net realized and unrealized gain (loss) | 1,425,090 |
Net increase (decrease) in net assets resulting from operations | $1,591,751 |
30 | MainStay Conservative ETF Allocation Fund |
for the period June 30, 2020 (inception date) through April 30, 2021
2021 | |
Increase (Decrease) in Net Assets | |
Operations: | |
Net investment income (loss) | $ 166,661 |
Net realized gain (loss) | (30,925) |
Net change in unrealized appreciation (depreciation) | 1,456,015 |
Net increase (decrease) in net assets resulting from operations | 1,591,751 |
Distributions to shareholders: | |
Class A | (142,574) |
Class C | (1,479) |
Class I | (23,570) |
Class R3 | (412) |
SIMPLE Class | (450) |
Total distributions to shareholders | (168,485) |
Capital share transactions: | |
Net proceeds from sales of shares | 28,017,054 |
Net asset value of shares issued to shareholder in reinvestment of distributions | 162,923 |
Cost of shares redeemed | (4,855,891) |
Increase (decrease) in net assets derived from capital share transactions | 23,324,086 |
Net increase (decrease) in net assets | 24,747,352 |
Net Assets | |
Beginning of period | — |
End of period | $24,747,352 |
June 30, 2020^ through April 30, | |
Class A | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.11 |
Net realized and unrealized gain (loss) on investments | 1.12 |
Total from investment operations | 1.23 |
Less distributions: | |
From net investment income | (0.09) |
From net realized gain on investments | (0.01) |
Total distributions | (0.10) |
Net asset value at end of period | $ 11.13 |
Total investment return (b) | 12.33% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.25% |
Net expenses†† (c) | 0.80% |
Expenses (before waiver/reimbursement)†† (c) | 1.49% |
Portfolio turnover rate | 56% |
Net assets at end of period (in 000’s) | $ 23,951 |
^ | 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. |
June 30, 2020^ through April 30, | |
Class C | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.05 |
Net realized and unrealized gain (loss) on investments | 1.10 |
Total from investment operations | 1.15 |
Less distributions: | |
From net investment income | (0.04) |
From net realized gain on investments | (0.01) |
Total distributions | (0.05) |
Net asset value at end of period | $ 11.10 |
Total investment return (b) | 11.51% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.58% |
Net expenses†† (c) | 1.55% |
Expenses (before waiver/reimbursement)†† (c) | 2.24% |
Portfolio turnover rate | 56% |
Net assets at end of period (in 000’s) | $ 472 |
^ | 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. |
32 | MainStay Conservative ETF Allocation Fund |
June 30, 2020^ through April 30, | |
Class I | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.15 |
Net realized and unrealized gain (loss) on investments | 1.10 |
Total from investment operations | 1.25 |
Less distributions: | |
From net investment income | (0.11) |
From net realized gain on investments | (0.01) |
Total distributions | (0.12) |
Net asset value at end of period | $ 11.13 |
Total investment return (b) | 12.47% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.71% |
Net expenses†† (c) | 0.55% |
Expenses (before waiver/reimbursement)†† (c) | 1.24% |
Portfolio turnover rate | 56% |
Net assets at end of period (in 000’s) | $ 61 |
^ | 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 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. |
June 30, 2020^ through April 30, | |
Class R3 | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.07 |
Net realized and unrealized gain (loss) on investments | 1.12 |
Total from investment operations | 1.19 |
Less distributions: | |
From net investment income | (0.06) |
From net realized gain on investments | (0.01) |
Total distributions | (0.07) |
Net asset value at end of period | $ 11.12 |
Total investment return (b) | 11.96% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.79% |
Net expenses†† (c) | 1.15% |
Expenses (before waiver/reimbursement)†† (c) | 1.84% |
Portfolio turnover rate | 56% |
Net assets at end of period (in 000’s) | $ 68 |
^ | 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 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. |
August 31, 2020^ through April 30, | |
SIMPLE Class | 2021 |
Net asset value at beginning of period | $ 10.46 |
Net investment income (loss) (a) | 0.08 |
Net realized and unrealized gain (loss) on investments | 0.66 |
Total from investment operations | 0.74 |
Less distributions: | |
From net investment income | (0.07) |
From net realized gain on investments | (0.01) |
Total distributions | (0.08) |
Net asset value at end of period | $ 11.12 |
Total investment return (b) | 7.13% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.92% |
Net expenses†† (c) | 1.05% |
Expenses (before waiver/reimbursement)†† (c) | 1.74% |
Portfolio turnover rate | 56% |
Net assets at end of period (in 000’s) | $ 195 |
^ | 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. |
34 | MainStay Conservative ETF Allocation Fund |
Average Annual Total Returns for the Period-Ended April 30, 2021 | |||||
Class | Sales Charge | Inception Date | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | 15.91% | 1.33% |
Excluding sales charges | 19.50 | 1.33 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | 17.82 | 2.08 |
if redeemed Within One Year of Purchase | Excluding sales charges | 18.82 | 2.08 | ||
Class I Shares | No Sales Charge | 6/30/2020 | 19.79 | 1.08 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | 19.22 | 1.68 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | 11.75 | 1.58 |
1. | 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. |
Benchmark Performance | Since Inception |
S&P 500® Index1 | 36.63% |
MSCI EAFE® Index (Net)2 | 29.63 |
Bloomberg Barclays U.S. Aggregate Bond Index3 | -1.35 |
Moderate Allocation Composite Index4 | 19.40 |
Morningstar Allocation - 50% to 70% Equity Category Average5 | 24.26 |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. “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. |
2. | 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. |
3. | The Fund has selected the Bloomberg Barclays U.S. Aggregate Bond Index as an additional benchmark. The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based benchmark that measures 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 Moderate Allocation Composite Index as an additional benchmark. The Moderate Allocation Composite Index consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg Barclays U.S. Aggregate Bond Index weighted 45%, 15% and 40%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | The Morningstar Allocation – 50% to 70% Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
36 | MainStay Moderate ETF Allocation Fund |
Share Class | Beginning Account Value 11/1/20 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/21 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/21 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,160.20 | $4.28 | $1,020.83 | $4.01 | 0.80% |
Class C Shares | $1,000.00 | $1,155.90 | $8.29 | $1,017.11 | $7.75 | 1.55% |
Class I Shares | $1,000.00 | $1,161.90 | $2.95 | $1,022.07 | $2.76 | 0.55% |
Class R3 Shares | $1,000.00 | $1,158.60 | $6.15 | $1,019.09 | $5.76 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $1,156.60 | $5.61 | $1,019.59 | $5.26 | 1.05% |
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. |
Equity Funds | 61.0 % |
Fixed Income Funds | 36.1 |
Short-Term Investments | 8.6 |
Other Assets, Less Liabilities | (5.7) |
38 | MainStay Moderate ETF Allocation Fund |
1. | See page 35 for other share class returns, which may be higher or lower than Class I share returns. See page 36 for more information on benchmark and peer group returns. |
2. | Beta is a measure of volatility in relation to the market as a whole. A beta higher than 1 indicates that a security or portfolio will tend to exhibit higher volatility than the market. A beta lower than 1 indicates that a security or portfolio will tend to exhibit lower volatility than the market. |
3. | The terms “spread” and “yield spread” may refer to the difference in yield between a security or type of security and comparable U.S. Treasury issues. The terms may also refer to the difference in yield between two specific securities or types of securities at a given time. |
4. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
40 | MainStay Moderate ETF Allocation Fund |
5. | The yield curve is a line that plots the yields of various securities of similar quality—typically U.S. Treasury issues—across a range of maturities. The U.S. Treasury yield curve serves as a benchmark for other debt and is used in economic forecasting. |
Shares | Value | ||
Investment Companies 97.1% | |||
Equity Funds 61.0% | |||
iShares Core MSCI EAFE ETF | 111,247 | $ 8,266,764 | |
iShares Core MSCI Emerging Markets ETF | 29,360 | 1,922,199 | |
iShares Core S&P Mid-Cap ETF | 1,822 | 495,147 | |
iShares Core S&P Small-Cap ETF | 2,466 | 272,592 | |
Schwab U.S. Mid-Cap ETF | 22,215 | 1,735,436 | |
Schwab U.S. Small-Cap ETF (a) | 8,128 | 832,714 | |
VanEck Vectors Gold Miners ETF | 23,622 | 811,652 | |
Vanguard Mega Cap ETF (a) | 77,005 | 11,383,649 | |
Vanguard Mega Cap Value ETF | 34,054 | 3,345,465 | |
Vanguard Mid-Cap ETF | 21,375 | 4,959,641 | |
Total Equity Funds (Cost $29,054,782) | 34,025,259 | ||
Fixed Income Funds 36.1% | |||
Invesco Senior Loan ETF (a) | 50,263 | 1,113,325 | |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 66,887 | 3,072,120 | |
iShares Broad USD High Yield Corporate Bond ETF (a) | 13,477 | 557,813 | |
iShares Broad USD Investment Grade Corporate Bond ETF | 50,743 | 3,021,746 | |
iShares Core U.S. Aggregate Bond ETF | 52,757 | 6,040,149 | |
Schwab U.S. Aggregate Bond ETF | 111,367 | 6,043,887 | |
Vanguard Short-Term Bond ETF | 3,389 | 278,949 | |
Total Fixed Income Funds (Cost $20,291,962) | 20,127,989 | ||
Total Investment Companies (Cost $49,346,744) | 54,153,248 | ||
Short-Term Investments 8.6% | |||
Affiliated Investment Company 2.7% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (b) | 1,505,140 | 1,505,140 | |
Total Affiliated Investment Company (Cost $1,505,140) | 1,505,140 | ||
Unaffiliated Investment Company 5.9% | |||
BlackRock Liquidity FedFund, 0.05% (b)(c) | 3,328,025 | 3,328,025 | |
Total Unaffiliated Investment Company (Cost $3,328,025) | 3,328,025 | ||
Total Short-Term Investments (Cost $4,833,165) | 4,833,165 | ||
Total Investments (Cost $54,179,909) | 105.7% | 58,986,413 | |
Other Assets, Less Liabilities | (5.7) | (3,205,602) | |
Net Assets | 100.0% | $ 55,780,811 |
42 | MainStay Moderate ETF Allocation Fund |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2021, the aggregate market value of securities on loan was $3,255,258. The Fund received cash collateral with a value of $3,328,025. (See Note 2(H)) |
(b) | Current yield as of April 30, 2021. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
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) | |||||||
Investment Companies | |||||||
Equity Funds | $ 34,025,259 | $ — | $ — | $ 34,025,259 | |||
Fixed Income Funds | 20,127,989 | — | — | 20,127,989 | |||
Total Investment Companies | 54,153,248 | — | — | 54,153,248 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 1,505,140 | — | — | 1,505,140 | |||
Unaffiliated Investment Company | 3,328,025 | — | — | 3,328,025 | |||
Total Short-Term Investments | 4,833,165 | — | — | 4,833,165 | |||
Total Investments in Securities | $ 58,986,413 | $ — | $ — | $ 58,986,413 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $52,674,769) including securities on loan of $3,255,258 | $57,481,273 |
Investment in affiliated investment companies, at value (identified cost $1,505,140) | 1,505,140 |
Receivables: | |
Fund shares sold | 299,977 |
Securities lending | 3,541 |
Dividends and interest | 24 |
Other assets | 18,316 |
Total assets | 59,308,271 |
Liabilities | |
Cash collateral received for securities on loan | 3,328,025 |
Due to custodian | 15 |
Payables: | |
Investment securities purchased | 111,439 |
Fund shares redeemed | 31,000 |
Transfer agent (See Note 3) | 21,095 |
Manager (See Note 3) | 12,044 |
NYLIFE Distributors (See Note 3) | 11,276 |
Professional fees | 4,230 |
Shareholder communication | 3,418 |
Custodian | 3,051 |
Trustees | 8 |
Accrued expenses | 1,859 |
Total liabilities | 3,527,460 |
Net assets | $55,780,811 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 4,696 |
Additional paid-in-capital | 51,010,578 |
51,015,274 | |
Total distributable earnings (loss) | 4,765,537 |
Net assets | $55,780,811 |
Class A | |
Net assets applicable to outstanding shares | $54,344,865 |
Shares of beneficial interest outstanding | 4,574,964 |
Net asset value per share outstanding | $ 11.88 |
Maximum sales charge (3.00% of offering price) | 0.37 |
Maximum offering price per share outstanding | $ 12.25 |
Class C | |
Net assets applicable to outstanding shares | $ 506,061 |
Shares of beneficial interest outstanding | 42,773 |
Net asset value and offering price per share outstanding | $ 11.83 |
Class I | |
Net assets applicable to outstanding shares | $ 52,029 |
Shares of beneficial interest outstanding | 4,383 |
Net asset value and offering price per share outstanding | $ 11.87 |
Class R3 | |
Net assets applicable to outstanding shares | $ 402,572 |
Shares of beneficial interest outstanding | 33,941 |
Net asset value and offering price per share outstanding | $ 11.86 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 475,284 |
Shares of beneficial interest outstanding | 40,099 |
Net asset value and offering price per share outstanding | $ 11.85 |
44 | MainStay Moderate ETF Allocation Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 447,783 |
Securities lending | 16,715 |
Interest | 101 |
Dividends-affiliated | 16 |
Total income | 464,615 |
Expenses | |
Offering (See Note 2) | 68,840 |
Distribution/Service—Class A (See Note 3) | 58,608 |
Distribution/Service—Class C (See Note 3) | 2,239 |
Distribution/Service—Class R3 (See Note 3) | 368 |
Distribution/Service—SIMPLE Class (See Note 3) | 525 |
Manager (See Note 3) | 50,932 |
Transfer agent (See Note 3) | 29,424 |
Registration | 21,262 |
Custodian | 12,741 |
Professional fees | 8,219 |
Shareholder communication | 3,587 |
Trustees | 562 |
Shareholder service (See Note 3) | 73 |
Miscellaneous | 4,923 |
Total expenses before waiver/reimbursement | 262,303 |
Expense waiver/reimbursement from Manager (See Note 3) | (60,441) |
Net expenses | 201,862 |
Net investment income (loss) | 262,753 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on investments | (90,057) |
Net change in unrealized appreciation (depreciation) on investments | 4,806,504 |
Net realized and unrealized gain (loss) | 4,716,447 |
Net increase (decrease) in net assets resulting from operations | $4,979,200 |
for the period June 30, 2020 (inception date) through April 30, 2021
2021 | |
Increase (Decrease) in Net Assets | |
Operations: | |
Net investment income (loss) | $ 262,753 |
Net realized gain (loss) | (90,057) |
Net change in unrealized appreciation (depreciation) | 4,806,504 |
Net increase (decrease) in net assets resulting from operations | 4,979,200 |
Distributions to shareholders: | |
Class A | (197,353) |
Class C | (1,749) |
Class I | (19,970) |
Class R3 | (240) |
SIMPLE Class | (758) |
Total distributions to shareholders | (220,070) |
Capital share transactions: | |
Net proceeds from sales of shares | 57,643,234 |
Net asset value of shares issued to shareholder in reinvestment of distributions | 217,534 |
Cost of shares redeemed | (6,839,087) |
Increase (decrease) in net assets derived from capital share transactions | 51,021,681 |
Net increase (decrease) in net assets | 55,780,811 |
Net Assets | |
Beginning of period | — |
End of period | $55,780,811 |
46 | MainStay Moderate ETF Allocation Fund |
June 30, 2020^ through April 30, | |
Class A | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.10 |
Net realized and unrealized gain (loss) on investments | 1.85 |
Total from investment operations | 1.95 |
Less distributions: | |
From net investment income | (0.06) |
From net realized gain on investments | (0.01) |
Total distributions | (0.07) |
Net asset value at end of period | $ 11.88 |
Total investment return (b) | 19.50% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.02% |
Net expenses†† (c) | 0.80% |
Expenses (before waiver/reimbursement)†† (c) | 1.04% |
Portfolio turnover rate | 45% |
Net assets at end of period (in 000’s) | $ 54,345 |
^ | 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. |
June 30, 2020^ through April 30, | |
Class C | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.03 |
Net realized and unrealized gain (loss) on investments | 1.85 |
Total from investment operations | 1.88 |
Less distributions: | |
From net investment income | (0.04) |
From net realized gain on investments | (0.01) |
Total distributions | (0.05) |
Net asset value at end of period | $ 11.83 |
Total investment return (b) | 18.82% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.29% |
Net expenses†† (c) | 1.55% |
Expenses (before waiver/reimbursement)†† (c) | 1.77% |
Portfolio turnover rate | 45% |
Net assets at end of period (in 000’s) | $ 506 |
^ | 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. |
June 30, 2020^ through April 30, | |
Class I | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.13 |
Net realized and unrealized gain (loss) on investments | 1.84 |
Total from investment operations | 1.97 |
Less distributions: | |
From net investment income | (0.09) |
From net realized gain on investments | (0.01) |
Total distributions | (0.10) |
Net asset value at end of period | $ 11.87 |
Total investment return (b) | 19.79% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.40% |
Net expenses†† (c) | 0.55% |
Expenses (before waiver/reimbursement)†† (c) | 0.79% |
Portfolio turnover rate | 45% |
Net assets at end of period (in 000’s) | $ 52 |
^ | 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 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. |
June 30, 2020^ through April 30, | |
Class R3 | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.07 |
Net realized and unrealized gain (loss) on investments | 1.85 |
Total from investment operations | 1.92 |
Less distributions: | |
From net investment income | (0.05) |
From net realized gain on investments | (0.01) |
Total distributions | (0.06) |
Net asset value at end of period | $ 11.86 |
Total investment return (b) | 19.22% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.76% |
Net expenses†† (c) | 1.15% |
Expenses (before waiver/reimbursement)†† (c) | 1.39% |
Portfolio turnover rate | 45% |
Net assets at end of period (in 000’s) | $ 403 |
^ | 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 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. |
48 | MainStay Moderate ETF Allocation Fund |
August 31, 2020^ through April 30, | |
SIMPLE Class | 2021 |
Net asset value at beginning of period | $ 10.66 |
Net investment income (loss) (a) | 0.06 |
Net realized and unrealized gain (loss) on investments | 1.19 |
Total from investment operations | 1.25 |
Less distributions: | |
From net investment income | (0.05) |
From net realized gain on investments | (0.01) |
Total distributions | (0.06) |
Net asset value at end of period | $ 11.85 |
Total investment return (b) | 11.75% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.62% |
Net expenses†† (c) | 1.05% |
Expenses (before waiver/reimbursement)†† (c) | 1.27% |
Portfolio turnover rate | 45% |
Net assets at end of period (in 000’s) | $ 475 |
^ | 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. |
Average Annual Total Returns for the Period-Ended April 30, 2021 | |||||
Class | Sales Charge | Inception Date | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | 24.71% | 1.35% |
Excluding sales charges | 28.56 | 1.35 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | 26.72 | 2.10 |
if redeemed Within One Year of Purchase | Excluding sales charges | 27.72 | 2.10 | ||
Class I Shares | No Sales Charge | 6/30/2020 | 28.79 | 1.10 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | 28.16 | 1.70 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | 18.11 | 1.60 |
1. | 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. |
50 | MainStay Growth ETF Allocation Fund |
Benchmark Performance | Since Inception |
S&P 500® Index1 | 36.63% |
MSCI EAFE® Index (Net)2 | 29.63 |
Bloomberg Barclays U.S. Aggregate Bond Index3 | -1.35 |
Growth Allocation Composite Index4 | 26.98 |
Morningstar Allocation - 70% to 85% Equity Category Average5 | 29.84 |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. “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. |
2. | 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. |
3. | The Fund has selected the Bloomberg Barclays U.S. Aggregate Bond Index as an additional benchmark. The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based benchmark that measures 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 Growth Allocation Composite Index as an additional benchmark. The Growth Allocation Composite Index consists of the S&P 500® Index, the MSCI EAFE® Index and the Bloomberg Barclays U.S. Aggregate Bond Index weighted 60%, 20% and 20%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | The Morningstar Allocation – 70% to 85% Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 70% and 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
Share Class | Beginning Account Value 11/1/20 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/21 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/21 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,232.60 | $4.43 | $1,020.83 | $4.01 | 0.80% |
Class C Shares | $1,000.00 | $1,228.10 | $8.56 | $1,017.11 | $7.75 | 1.55% |
Class I Shares | $1,000.00 | $1,233.60 | $3.05 | $1,022.07 | $2.76 | 0.55% |
Class R3 Shares | $1,000.00 | $1,231.10 | $6.36 | $1,019.09 | $5.76 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $1,231.00 | $5.81 | $1,019.59 | $5.26 | 1.05% |
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. |
52 | MainStay Growth ETF Allocation Fund |
Equity Funds | 81.2 % |
Fixed Income Funds | 16.1 |
Short-Term Investments | 12.1 |
Other Assets, Less Liabilities | (9.4) |
1. | See page 50 for other share class returns, which may be higher or lower than Class I share returns. See page 51 for more information on benchmark and peer group returns. |
2. | Beta is a measure of volatility in relation to the market as a whole. A beta higher than 1 indicates that a security or portfolio will tend to exhibit higher volatility than the market. A beta lower than 1 indicates that a security or portfolio will tend to exhibit lower volatility than the market. |
54 | MainStay Growth ETF Allocation Fund |
3. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
56 | MainStay Growth ETF Allocation Fund |
Shares | Value | ||
Investment Companies 97.3% | |||
Equity Funds 81.2% | |||
iShares Core MSCI EAFE ETF | 79,047 | $ 5,873,983 | |
iShares Core MSCI Emerging Markets ETF | 21,173 | 1,386,196 | |
iShares Core S&P Mid-Cap ETF | 1,416 | 384,812 | |
iShares Core S&P Small-Cap ETF | 4,824 | 533,245 | |
Schwab U.S. Mid-Cap ETF (a) | 17,248 | 1,347,414 | |
Schwab U.S. Small-Cap ETF (a) | 15,950 | 1,634,077 | |
VanEck Vectors Gold Miners ETF | 13,467 | 462,726 | |
Vanguard Mega Cap ETF | 53,691 | 7,937,141 | |
Vanguard Mega Cap Value ETF | 19,024 | 1,868,918 | |
Vanguard Mid-Cap ETF | 16,602 | 3,852,162 | |
Total Equity Funds (Cost $21,525,791) | 25,280,674 | ||
Fixed Income Funds 16.1% | |||
Invesco Senior Loan ETF (a) | 28,225 | 625,184 | |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 37,514 | 1,723,018 | |
iShares Broad USD High Yield Corporate Bond ETF (a) | 7,568 | 313,239 | |
iShares Broad USD Investment Grade Corporate Bond ETF | 7,377 | 439,300 | |
iShares Core U.S. Aggregate Bond ETF | 7,669 | 878,024 | |
Schwab U.S. Aggregate Bond ETF | 16,190 | 878,631 | |
Vanguard Short-Term Bond ETF | 1,903 | 156,636 | |
Total Fixed Income Funds (Cost $5,001,524) | 5,014,032 | ||
Total Investment Companies (Cost $26,527,315) | 30,294,706 | ||
Short-Term Investments 12.1% | |||
Affiliated Investment Company 3.0% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (b) | 940,205 | 940,205 | |
Total Affiliated Investment Company (Cost $940,205) | 940,205 | ||
Unaffiliated Investment Company 9.1% | |||
BlackRock Liquidity FedFund, 0.05% (b)(c) | 2,833,680 | 2,833,680 | |
Total Unaffiliated Investment Company (Cost $2,833,680) | 2,833,680 | ||
Total Short-Term Investments (Cost $3,773,885) | 3,773,885 | ||
Total Investments (Cost $30,301,200) | 109.4% | 34,068,591 | |
Other Assets, Less Liabilities | (9.4) | (2,917,579) | |
Net Assets | 100.0% | $ 31,151,012 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2021, the aggregate market value of securities on loan was $3,664,528; the total market value of collateral held by the Fund was $3,760,529. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $926,849. The Fund received cash collateral with a value of $2,833,680. (See Note 2(H)) |
(b) | Current yield as of April 30, 2021. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
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) | |||||||
Investment Companies | |||||||
Equity Funds | $ 25,280,674 | $ — | $ — | $ 25,280,674 | |||
Fixed Income Funds | 5,014,032 | — | — | 5,014,032 | |||
Total Investment Companies | 30,294,706 | — | — | 30,294,706 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 940,205 | — | — | 940,205 | |||
Unaffiliated Investment Company | 2,833,680 | — | — | 2,833,680 | |||
Total Short-Term Investments | 3,773,885 | — | — | 3,773,885 | |||
Total Investments in Securities | $ 34,068,591 | $ — | $ — | $ 34,068,591 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
58 | MainStay Growth ETF Allocation Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $29,360,995) including securities on loan of $3,664,528 | $33,128,386 |
Investment in affiliated investment companies, at value (identified cost $940,205) | 940,205 |
Receivables: | |
Fund shares sold | 99,286 |
Securities lending | 3,484 |
Interest | 8 |
Other assets | 18,342 |
Total assets | 34,189,711 |
Liabilities | |
Cash collateral received for securities on loan | 2,833,680 |
Due to custodian | 36 |
Payables: | |
Investment securities purchased | 159,588 |
Fund shares redeemed | 15,100 |
Transfer agent (See Note 3) | 8,536 |
NYLIFE Distributors (See Note 3) | 6,414 |
Professional fees | 4,263 |
Shareholder communication | 3,450 |
Custodian | 3,319 |
Manager (See Note 3) | 2,193 |
Trustees | 250 |
Accrued expenses | 1,870 |
Total liabilities | 3,038,699 |
Net assets | $31,151,012 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 2,436 |
Additional paid-in-capital | 27,349,111 |
27,351,547 | |
Total distributable earnings (loss) | 3,799,465 |
Net assets | $31,151,012 |
Class A | |
Net assets applicable to outstanding shares | $29,704,527 |
Shares of beneficial interest outstanding | 2,322,722 |
Net asset value per share outstanding | $ 12.79 |
Maximum sales charge (3.00% of offering price) | 0.40 |
Maximum offering price per share outstanding | $ 13.19 |
Class C | |
Net assets applicable to outstanding shares | $ 287,699 |
Shares of beneficial interest outstanding | 22,602 |
Net asset value and offering price per share outstanding | $ 12.73 |
Class I | |
Net assets applicable to outstanding shares | $ 39,642 |
Shares of beneficial interest outstanding | 3,109 |
Net asset value and offering price per share outstanding | $ 12.75 |
Class R3 | |
Net assets applicable to outstanding shares | $ 157,534 |
Shares of beneficial interest outstanding | 12,338 |
Net asset value and offering price per share outstanding | $ 12.77 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 961,610 |
Shares of beneficial interest outstanding | 75,266 |
Net asset value and offering price per share outstanding | $ 12.78 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 224,230 |
Securities lending | 11,623 |
Interest | 169 |
Dividends-affiliated | 9 |
Total income | 236,031 |
Expenses | |
Offering (See Note 2) | 69,337 |
Distribution/Service—Class A (See Note 3) | 29,134 |
Distribution/Service—Class C (See Note 3) | 1,280 |
Distribution/Service—Class R3 (See Note 3) | 578 |
Distribution/Service—SIMPLE Class (See Note 3) | 1,066 |
Manager (See Note 3) | 27,579 |
Registration | 16,932 |
Transfer agent (See Note 3) | 15,660 |
Custodian | 12,527 |
Professional fees | 7,907 |
Shareholder communication | 3,587 |
Trustees | 563 |
Shareholder service (See Note 3) | 116 |
Miscellaneous | 5,437 |
Total expenses before waiver/reimbursement | 191,703 |
Expense waiver/reimbursement from Manager (See Note 3) | (83,723) |
Net expenses | 107,980 |
Net investment income (loss) | 128,051 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on investments | 13,861 |
Net change in unrealized appreciation (depreciation) on investments | 3,767,391 |
Net realized and unrealized gain (loss) | 3,781,252 |
Net increase (decrease) in net assets resulting from operations | $3,909,303 |
60 | MainStay Growth ETF Allocation Fund |
for the period June 30, 2020 (inception date) through April 30, 2021
2021 | |
Increase (Decrease) in Net Assets | |
Operations: | |
Net investment income (loss) | $ 128,051 |
Net realized gain (loss) | 13,861 |
Net change in unrealized appreciation (depreciation) | 3,767,391 |
Net increase (decrease) in net assets resulting from operations | 3,909,303 |
Distributions to shareholders: | |
Class A | (87,508) |
Class C | (776) |
Class I | (22,920) |
Class R3 | (519) |
SIMPLE Class | (1,085) |
Total distributions to shareholders | (112,808) |
Capital share transactions: | |
Net proceeds from sales of shares | 32,361,739 |
Net asset value of shares issued to shareholder in reinvestment of distributions | 112,779 |
Cost of shares redeemed | (5,120,001) |
Increase (decrease) in net assets derived from capital share transactions | 27,354,517 |
Net increase (decrease) in net assets | 31,151,012 |
Net Assets | |
Beginning of period | — |
End of period | $31,151,012 |
June 30, 2020^ through April 30, | |
Class A | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.09 |
Net realized and unrealized gain (loss) on investments | 2.76 |
Total from investment operations | 2.85 |
Less distributions: | |
From net investment income | (0.05) |
From net realized gain on investments | (0.01) |
Total distributions | (0.06) |
Net asset value at end of period | $ 12.79 |
Total investment return (b) | 28.56% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.90% |
Net expenses†† (c) | 0.80% |
Expenses (before waiver/reimbursement)†† (c) | 1.41% |
Portfolio turnover rate | 47% |
Net assets at end of period (in 000’s) | $ 29,705 |
^ | 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. |
June 30, 2020^ through April 30, | |
Class C | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.03 |
Net realized and unrealized gain (loss) on investments | 2.74 |
Total from investment operations | 2.77 |
Less distributions: | |
From net investment income | (0.03) |
From net realized gain on investments | (0.01) |
Total distributions | (0.04) |
Net asset value at end of period | $ 12.73 |
Total investment return (b) | 27.72% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.28% |
Net expenses†† (c) | 1.55% |
Expenses (before waiver/reimbursement)†† (c) | 2.12% |
Portfolio turnover rate | 47% |
Net assets at end of period (in 000’s) | $ 288 |
^ | 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. |
62 | MainStay Growth ETF Allocation Fund |
June 30, 2020^ through April 30, | |
Class I | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.12 |
Net realized and unrealized gain (loss) on investments | 2.75 |
Total from investment operations | 2.87 |
Less distributions: | |
From net investment income | (0.11) |
From net realized gain on investments | (0.01) |
Total distributions | (0.12) |
Net asset value at end of period | $ 12.75 |
Total investment return (b) | 28.79% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.23% |
Net expenses†† (c) | 0.55% |
Expenses (before waiver/reimbursement)†† (c) | 1.16% |
Portfolio turnover rate | 47% |
Net assets at end of period (in 000’s) | $ 40 |
^ | 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 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. |
June 30, 2020^ through April 30, | |
Class R3 | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.05 |
Net realized and unrealized gain (loss) on investments | 2.76 |
Total from investment operations | 2.81 |
Less distributions: | |
From net investment income | (0.03) |
From net realized gain on investments | (0.01) |
Total distributions | (0.04) |
Net asset value at end of period | $ 12.77 |
Total investment return (b) | 28.16% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.48% |
Net expenses†† (c) | 1.15% |
Expenses (before waiver/reimbursement)†† (c) | 1.76% |
Portfolio turnover rate | 47% |
Net assets at end of period (in 000’s) | $ 158 |
^ | 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 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. |
August 31, 2020^ through April 30, | |
SIMPLE Class | 2021 |
Net asset value at beginning of period | $ 10.86 |
Net investment income (loss) (a) | 0.07 |
Net realized and unrealized gain (loss) on investments | 1.90 |
Total from investment operations | 1.97 |
Less distributions: | |
From net investment income | (0.04) |
From net realized gain on investments | (0.01) |
Total distributions | (0.05) |
Net asset value at end of period | $ 12.78 |
Total investment return (b) | 18.11% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.71% |
Net expenses†† (c) | 1.05% |
Expenses (before waiver/reimbursement)†† (c) | 1.62% |
Portfolio turnover rate | 47% |
Net assets at end of period (in 000’s) | $ 962 |
^ | 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. |
64 | MainStay Growth ETF Allocation Fund |
Average Annual Total Returns for the Period-Ended April 30, 2021 | |||||
Class | Sales Charge | Inception Date | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | 32.93% | 1.33% |
Excluding sales charges | 37.04 | 1.33 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | 35.13 | 2.08 |
if redeemed Within One Year of Purchase | Excluding sales charges | 36.13 | 2.08 | ||
Class I Shares | No Sales Charge | 6/30/2020 | 37.30 | 1.08 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | 36.62 | 1.68 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | 23.32 | 1.58 |
1. | 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. |
Benchmark Performance | Since Inception |
S&P 500® Index1 | 36.63% |
MSCI EAFE® Index (Net)2 | 29.63 |
Equity Allocation Composite Index3 | 34.90 |
Morningstar Allocation - 85%+ Equity Category Average4 | 36.68 |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. “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. |
2. | 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. |
3. | The Fund has selected the Equity Allocation Composite Index as an additional benchmark. The Equity Allocation Composite Index consists of the S&P 500® Index and the MSCI EAFE® Index (Net) weighted 75% and 25%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Morningstar Allocation – 85%+ Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures of over 85%. These funds typically allocate at least 10% to equities of foreign companies and do not exclusively allocate between cash and equities. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
66 | MainStay Equity ETF Allocation Fund |
Share Class | Beginning Account Value 11/1/20 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/21 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/21 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,297.70 | $4.56 | $1,020.83 | $4.01 | 0.80% |
Class C Shares | $1,000.00 | $1,292.80 | $8.81 | $1,017.11 | $7.75 | 1.55% |
Class I Shares | $1,000.00 | $1,299.00 | $3.14 | $1,022.07 | $2.76 | 0.55% |
Class R3 Shares | $1,000.00 | $1,295.00 | $6.54 | $1,019.09 | $5.76 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $1,295.10 | $5.98 | $1,019.59 | $5.26 | 1.05% |
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. |
Equity Funds | 99.0 % |
Short-Term Investments | 9.4 |
Other Assets, Less Liabilities | (8.4) |
68 | MainStay Equity ETF Allocation Fund |
1. | See page 65 for other share class returns, which may be higher or lower than Class I share returns. See page 66 for more information on benchmark and peer group returns. |
2. | Beta is a measure of volatility in relation to the market as a whole. A beta higher than 1 indicates that a security or portfolio will tend to exhibit higher volatility than the market. A beta lower than 1 indicates that a security or portfolio will tend to exhibit lower volatility than the market. |
70 | MainStay Equity ETF Allocation Fund |
Shares | Value | ||
Investment Companies 99.0% | |||
Equity Funds 99.0% | |||
iShares Core MSCI EAFE ETF | 69,895 | $ 5,193,897 | |
iShares Core MSCI Emerging Markets ETF | 21,184 | 1,386,917 | |
iShares Core S&P Mid-Cap ETF | 1,108 | 301,110 | |
iShares Core S&P Small-Cap ETF | 6,493 | 717,736 | |
Schwab U.S. Mid-Cap ETF | 13,551 | 1,058,604 | |
Schwab U.S. Small-Cap ETF (a) | 21,426 | 2,195,094 | |
VanEck Vectors Gold Miners ETF | 1,548 | 53,189 | |
Vanguard Mega Cap ETF | 58,798 | 8,692,108 | |
Vanguard Mega Cap Value ETF (a) | 14,944 | 1,468,099 | |
Vanguard Mid-Cap ETF | 13,056 | 3,029,384 | |
Total Investment Companies (Cost $21,179,504) | 24,096,138 | ||
Short-Term Investments 9.4% | |||
Affiliated Investment Company 2.0% | |||
MainStay U.S. Government Liquidity Fund, 0.01% (b) | 489,602 | 489,602 | |
Total Affiliated Investment Company (Cost $489,602) | 489,602 | ||
Unaffiliated Investment Company 7.4% | |||
BlackRock Liquidity FedFund, 0.05% (b)(c) | 1,797,783 | 1,797,783 | |
Total Unaffiliated Investment Company (Cost $1,797,783) | 1,797,783 | ||
Total Short-Term Investments (Cost $2,287,385) | 2,287,385 | ||
Total Investments (Cost $23,466,889) | 108.4% | 26,383,523 | |
Other Assets, Less Liabilities | (8.4) | (2,046,618) | |
Net Assets | 100.0% | $ 24,336,905 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2021, the aggregate market value of securities on loan was $1,920,493; the total market value of collateral held by the Fund was $1,985,567. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $187,784. The Fund received cash collateral with a value of $1,797,783. (See Note 2(H)) |
(b) | Current yield as of April 30, 2021. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
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) | |||||||
Investment Companies | |||||||
Equity Funds | $ 24,096,138 | $ — | $ — | $ 24,096,138 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 489,602 | — | — | 489,602 | |||
Unaffiliated Investment Company | 1,797,783 | — | — | 1,797,783 | |||
Total Short-Term Investments | 2,287,385 | — | — | 2,287,385 | |||
Total Investments in Securities | $ 26,383,523 | $ — | $ — | $ 26,383,523 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
72 | MainStay Equity ETF Allocation Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $22,977,287) including securities on loan of $1,920,493 | $25,893,921 |
Investment in affiliated investment companies, at value (identified cost $489,602) | 489,602 |
Receivables: | |
Fund shares sold | 127,874 |
Securities lending | 2,660 |
Manager (See Note 3) | 720 |
Interest | 3 |
Other assets | 17,044 |
Total assets | 26,531,824 |
Liabilities | |
Cash collateral received for securities on loan | 1,797,783 |
Payables: | |
Investment securities purchased | 364,037 |
Fund shares redeemed | 7,100 |
Custodian | 5,925 |
Transfer agent (See Note 3) | 5,690 |
NYLIFE Distributors (See Note 3) | 4,397 |
Professional fees | 4,254 |
Shareholder communication | 3,499 |
Trustees | 362 |
Accrued expenses | 1,872 |
Total liabilities | 2,194,919 |
Net assets | $24,336,905 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 1,785 |
Additional paid-in-capital | 21,418,372 |
21,420,157 | |
Total distributable earnings (loss) | 2,916,748 |
Net assets | $24,336,905 |
Class A | |
Net assets applicable to outstanding shares | $20,221,158 |
Shares of beneficial interest outstanding | 1,482,019 |
Net asset value per share outstanding | $ 13.64 |
Maximum sales charge (3.00% of offering price) | 0.42 |
Maximum offering price per share outstanding | $ 14.06 |
Class C | |
Net assets applicable to outstanding shares | $ 175,153 |
Shares of beneficial interest outstanding | 12,912 |
Net asset value and offering price per share outstanding | $ 13.57 |
Class I | |
Net assets applicable to outstanding shares | $ 2,684,416 |
Shares of beneficial interest outstanding | 197,898 |
Net asset value and offering price per share outstanding | $ 13.56 |
Class R3 | |
Net assets applicable to outstanding shares | $ 444,852 |
Shares of beneficial interest outstanding | 32,689 |
Net asset value and offering price per share outstanding | $ 13.61 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 811,326 |
Shares of beneficial interest outstanding | 59,599 |
Net asset value and offering price per share outstanding | $ 13.61 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 112,692 |
Securities lending | 8,362 |
Interest | 77 |
Dividends-affiliated | 4 |
Total income | 121,135 |
Expenses | |
Offering (See Note 2) | 69,157 |
Distribution/Service—Class A (See Note 3) | 15,665 |
Distribution/Service—Class C (See Note 3) | 851 |
Distribution/Service—Class R3 (See Note 3) | 880 |
Distribution/Service—SIMPLE Class (See Note 3) | 581 |
Manager (See Note 3) | 17,133 |
Registration | 15,957 |
Custodian | 13,483 |
Transfer agent (See Note 3) | 8,950 |
Professional fees | 7,735 |
Shareholder communication | 3,588 |
Trustees | 563 |
Shareholder service (See Note 3) | 176 |
Miscellaneous | 4,633 |
Total expenses before waiver/reimbursement | 159,352 |
Expense waiver/reimbursement from Manager (See Note 3) | (94,097) |
Net expenses | 65,255 |
Net investment income (loss) | 55,880 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on investments | 3,638 |
Net change in unrealized appreciation (depreciation) on investments | 2,916,634 |
Net realized and unrealized gain (loss) | 2,920,272 |
Net increase (decrease) in net assets resulting from operations | $2,976,152 |
74 | MainStay Equity ETF Allocation Fund |
for the period June 30, 2020 (inception date) through April 30, 2021
2021 | |
Increase (Decrease) in Net Assets | |
Operations: | |
Net investment income (loss) | $ 55,880 |
Net realized gain (loss) | 3,638 |
Net change in unrealized appreciation (depreciation) | 2,916,634 |
Net increase (decrease) in net assets resulting from operations | 2,976,152 |
Distributions to shareholders: | |
Class A | (30,721) |
Class C | (359) |
Class I | (28,319) |
Class R3 | (966) |
SIMPLE Class | (208) |
Total distributions to shareholders | (60,573) |
Capital share transactions: | |
Net proceeds from sales of shares | 22,364,067 |
Net asset value of shares issued to shareholder in reinvestment of distributions | 60,237 |
Cost of shares redeemed | (1,002,978) |
Increase (decrease) in net assets derived from capital share transactions | 21,421,326 |
Net increase (decrease) in net assets | 24,336,905 |
Net Assets | |
Beginning of period | — |
End of period | $24,336,905 |
June 30, 2020^ through April 30, | |
Class A | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.07 |
Net realized and unrealized gain (loss) on investments | 3.62 |
Total from investment operations | 3.69 |
Less distributions: | |
From net investment income | (0.04) |
From net realized gain on investments | (0.01) |
Total distributions | (0.05) |
Net asset value at end of period | $ 13.64 |
Total investment return (b) | 37.04% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.63% |
Net expenses†† (c) | 0.80% |
Expenses (before waiver/reimbursement)†† (c) | 1.90% |
Portfolio turnover rate | 24% |
Net assets at end of period (in 000’s) | $ 20,221 |
^ | 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. |
June 30, 2020^ through April 30, | |
Class C | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | (0.02) |
Net realized and unrealized gain (loss) on investments | 3.63 |
Total from investment operations | 3.61 |
Less distributions: | |
From net investment income | (0.03) |
From net realized gain on investments | (0.01) |
Total distributions | (0.04) |
Net asset value at end of period | $ 13.57 |
Total investment return (b) | 36.13% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | (0.20)% |
Net expenses†† (c) | 1.55% |
Expenses (before waiver/reimbursement)†† (c) | 2.61% |
Portfolio turnover rate | 24% |
Net assets at end of period (in 000’s) | $ 175 |
^ | 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. |
76 | MainStay Equity ETF Allocation Fund |
June 30, 2020^ through April 30, | |
Class I | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.08 |
Net realized and unrealized gain (loss) on investments | 3.62 |
Total from investment operations | 3.70 |
Less distributions: | |
From net investment income | (0.13) |
From net realized gain on investments | (0.01) |
Total distributions | (0.14) |
Net asset value at end of period | $ 13.56 |
Total investment return (b) | 37.30% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.80% |
Net expenses†† (c) | 0.55% |
Expenses (before waiver/reimbursement)†† (c) | 1.65% |
Portfolio turnover rate | 24% |
Net assets at end of period (in 000’s) | $ 2,684 |
^ | 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 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. |
June 30, 2020^ through April 30, | |
Class R3 | 2021 |
Net asset value at beginning of period | $ 10.00 |
Net investment income (loss) (a) | 0.04 |
Net realized and unrealized gain (loss) on investments | 3.62 |
Total from investment operations | 3.66 |
Less distributions: | |
From net investment income | (0.04) |
From net realized gain on investments | (0.01) |
Total distributions | (0.05) |
Net asset value at end of period | $ 13.61 |
Total investment return (b) | 36.62% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.39% |
Net expenses†† (c) | 1.15% |
Expenses (before waiver/reimbursement)†† (c) | 2.25% |
Portfolio turnover rate | 24% |
Net assets at end of period (in 000’s) | $ 445 |
^ | 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 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. |
August 31, 2020^ through April 30, | |
SIMPLE Class | 2021 |
Net asset value at beginning of period | $ 11.08 |
Net investment income (loss) (a) | 0.06 |
Net realized and unrealized gain (loss) on investments | 2.52 |
Total from investment operations | 2.58 |
Less distributions: | |
From net investment income | (0.04) |
From net realized gain on investments | (0.01) |
Total distributions | (0.05) |
Net asset value at end of period | $ 13.61 |
Total investment return (b) | 23.32% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.51% |
Net expenses†† (c) | 1.05% |
Expenses (before waiver/reimbursement)†† (c) | 2.11% |
Portfolio turnover rate | 24% |
Net assets at end of period (in 000’s) | $ 811 |
^ | 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. |
78 | MainStay Equity ETF Allocation Fund |
Fund | Share Classes Commenced Operations1 |
MainStay Defensive ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
MainStay Conservative ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
MainStay Moderate ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
MainStay Growth ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
MainStay Equity ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
1. | For each ETF Allocation Fund, Investor Class and Class R6 shares were registered for sale as of June 30, 2020, but as of April 30, 2021 were not yet offered for sale. |
• | Level 1—quoted prices in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including each ETF Allocation Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
80 | Mainstay ETF Asset Allocation Funds |
Fund | Class A | Class C | Class I | Class R3 | SIMPLE Class |
MainStay Defensive ETF Allocation Fund | 0.80% | 1.55% | 0.55% | 1.15% | 1.05% |
MainStay Conservative ETF Allocation Fund | 0.80 | 1.55 | 0.55 | 1.15 | 1.05 |
MainStay Moderate ETF Allocation Fund | 0.80 | 1.55 | 0.55 | 1.15 | 1.05 |
MainStay Growth ETF Allocation Fund | 0.80 | 1.55 | 0.55 | 1.15 | 1.05 |
MainStay Equity ETF Allocation Fund | 0.80 | 1.55 | 0.55 | 1.15 | 1.05 |
Fund | Total |
MainStay Defensive ETF Allocation Fund | $101,644 |
MainStay Conservative ETF Allocation Fund | 88,864 |
MainStay Moderate ETF Allocation Fund | 60,441 |
MainStay Growth ETF Allocation Fund | 83,723 |
MainStay Equity ETF Allocation Fund | 94,097 |
82 | Mainstay ETF Asset Allocation Funds |
MainStay Defensive ETF Allocation Fund | |
Class R3 | $ 21 |
MainStay Conservative ETF Allocation Fund | |
Class R3 | $ 36 |
MainStay Moderate ETF Allocation Fund | |
Class R3 | $ 73 |
MainStay Growth ETF Allocation Fund | |
Class R3 | $ 116 |
MainStay Equity ETF Allocation Fund | |
Class R3 | $ 176 |
MainStay Defensive ETF Allocation Fund | |
Class A | $ 7,253 |
MainStay Conservative ETF Allocation Fund | |
Class A | $ 18,172 |
MainStay Moderate ETF Allocation Fund | |
Class A | $ 35,101 |
MainStay Growth ETF Allocation Fund | |
Class A | $ 28,325 |
MainStay Equity ETF Allocation Fund | |
Class A | $ 13,946 |
MainStay Defensive ETF Allocation Fund | |
Class A | $ 174 |
MainStay Conservative ETF Allocation Fund | |
Class A | $ 17 |
MainStay Moderate ETF Allocation Fund | |
Class A | $ 344 |
Class C | 65 |
MainStay Growth ETF Allocation Fund | |
Class A | $ 4,619 |
MainStay Equity ETF Allocation Fund | |
Class A | $ 1 |
MainStay Defensive ETF Allocation Fund | Expense | Waived |
Class A | $ 5,913 | $ — |
Class C | 229 | — |
Class I | 2,120 | — |
Class R3 | 28 | — |
SIMPLE Class | 36 | — |
MainStay Conservative ETF Allocation Fund | Expense | Waived |
Class A | $ 13,088 | $ — |
Class C | 265 | — |
Class I | 1,875 | — |
Class R3 | 44 | — |
SIMPLE Class | 47 | — |
MainStay Moderate ETF Allocation Fund | Expense | Waived |
Class A | $ 27,142 | $ — |
Class C | 219 | — |
Class I | 1,876 | — |
Class R3 | 85 | — |
SIMPLE Class | 102 | — |
MainStay Growth ETF Allocation Fund | Expense | Waived |
Class A | $ 13,334 | $ — |
Class C | 103 | — |
Class I | 1,920 | — |
Class R3 | 132 | — |
SIMPLE Class | 171 | — |
MainStay Equity ETF Allocation Fund | Expense | Waived |
Class A | $ 6,602 | $ — |
Class C | 58 | — |
Class I | 2,025 | — |
Class R3 | 185 | — |
SIMPLE Class | 80 | — |
MainStay Defensive ETF Allocation 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 | $ — | $ 802 | $ (510) | $ — | $ — | $ 292 | $ —(a) | $ — | 292 |
(a) | Less than $500. |
MainStay Conservative ETF Allocation 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 | $ — | $ 2,096 | $ (1,388) | $ — | $ — | $ 708 | $ —(a) | $ — | 708 |
(a) | Less than $500. |
84 | Mainstay ETF Asset Allocation Funds |
MainStay Moderate ETF Allocation 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 | $ — | $ 4,327 | $ (2,822) | $ — | $ — | $ 1,505 | $ —(a) | $ — | 1,505 |
(a) | Less than $500. |
MainStay Growth ETF Allocation 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 | $ — | $ 2,683 | $ (1,743) | $ — | $ — | $ 940 | $ —(a) | $ — | 940 |
(a) | Less than $500. |
MainStay Equity ETF Allocation 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 | $ — | $ 2,388 | $ (1,898) | $ — | $ — | $ 490 | $ —(a) | $ — | 490 |
(a) | Less than $500. |
MainStay Defensive ETF Allocation Fund | ||
Class C | $ 26,212 | 16.2% |
Class I | 2,028,458 | 99.4 |
Class R3 | 26,266 | 100.0 |
SIMPLE Class | 25,640 | 32.1 |
MainStay Conservative ETF Allocation Fund | ||
Class C | $ 27,877 | 5.9% |
Class I | 35,417 | 57.7 |
Class R3 | 27,968 | 41.2 |
MainStay Moderate ETF Allocation Fund | ||
Class I | $ 30,805 | 59.2% |
Class R3 | 29,806 | 7.4 |
MainStay Growth ETF Allocation Fund | ||
Class C | $ 31,930 | 11.1% |
Class I | 30,947 | 78.1 |
Class R3 | 32,039 | 20.3 |
MainStay Equity ETF Allocation Fund | ||
Class C | $ 34,033 | 19.4% |
Class I | 2,643,101 | 98.5 |
Class R3 | 34,156 | 7.7 |
SIMPLE Class | 30,829 | 3.8 |
MainStay Defensive ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments | $12,502,093 | $306,970 | $(141,491) | $165,479 |
MainStay Conservative ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments | $25,963,751 | $1,521,654 | $(205,182) | $1,316,472 |
MainStay Moderate ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments | $54,375,407 | $4,908,682 | $(297,676) | $4,611,006 |
MainStay Growth ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments | $30,351,517 | $3,773,545 | $(56,471) | $3,717,074 |
MainStay Equity ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments | $23,487,514 | $2,896,408 | $(399) | $2,896,009 |
Fund | Ordinary income | Accumulated Capital and Other Gain (Loss) | Other Temporary Differences | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
MainStay Defensive ETF Allocation Fund | $ 88,973 | $— | $— | $ 165,479 | $ 254,452 |
MainStay Conservative ETF Allocation Fund | 109,833 | — | — | 1,316,472 | 1,426,305 |
MainStay Moderate ETF Allocation Fund | 154,531 | — | — | 4,611,006 | 4,765,537 |
MainStay Growth ETF Allocation Fund | 82,391 | — | — | 3,717,074 | 3,799,465 |
MainStay Equity ETF Allocation Fund | 20,739 | — | — | 2,896,009 | 2,916,748 |
86 | Mainstay ETF Asset Allocation Funds |
Fund | Total Distributable Earnings (Loss) | Additional Paid-In Capital |
MainStay Defensive ETF Allocation Fund | $1,406 | $(1,406) |
MainStay Conservative ETF Allocation Fund | 3,039 | (3,039) |
MainStay Moderate ETF Allocation Fund | 6,407 | (6,407) |
MainStay Growth ETF Allocation Fund | 2,970 | (2,970) |
MainStay Equity ETF Allocation Fund | 1,169 | (1,169) |
2021 | ||
Fund | Ordinary Income | Total |
MainStay Defensive ETF Allocation Fund | $ 87,982 | $ 87,982 |
MainStay Conservative ETF Allocation Fund | 168,485 | 168,485 |
MainStay Moderate ETF Allocation Fund | 220,070 | 220,070 |
MainStay Growth ETF Allocation Fund | 112,808 | 112,808 |
MainStay Equity ETF Allocation Fund | 60,573 | 60,573 |
Fund | Purchases | Sales |
MainStay Defensive ETF Allocation Fund | $15,173 | $ 4,845 |
MainStay Conservative ETF Allocation Fund | 31,096 | 8,414 |
MainStay Moderate ETF Allocation Fund | 62,852 | 13,415 |
MainStay Growth ETF Allocation Fund | 34,160 | 7,646 |
MainStay Equity ETF Allocation Fund | 23,657 | 2,481 |
Class A | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 1,019,860 | $10,475,057 |
Shares issued to shareholders in reinvestment of distributions | 6,035 | 62,541 |
Shares redeemed | (205,074) | (2,122,890) |
Net increase (decrease) | 820,821 | $ 8,414,708 |
Class C | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 36,365 | $ 368,622 |
Shares issued to shareholders in reinvestment of distributions | 86 | 898 |
Shares redeemed | (20,929) | (215,685) |
Net increase (decrease) | 15,522 | $ 153,835 |
Class I | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 193,555 | $ 1,936,076 |
Shares issued to shareholders in reinvestment of distributions | 1,800 | 18,692 |
Net increase (decrease) | 195,355 | $ 1,954,768 |
Class R3 | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 2,500 | $ 25,001 |
Shares issued to shareholders in reinvestment of distributions | 16 | 165 |
Net increase (decrease) | 2,516 | $ 25,166 |
SIMPLE Class | Shares | Amount |
Period ended April 30, 2021: (b) | ||
Shares sold | 7,620 | $ 78,773 |
Shares issued to shareholders in reinvestment of distributions | 25 | 265 |
Net increase (decrease) | 7,645 | $ 79,038 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the SIMPLE Class was August 31, 2020. |
Class A | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 2,384,111 | $25,249,853 |
Shares issued to shareholders in reinvestment of distributions | 13,109 | 141,610 |
Shares redeemed | (246,378) | (2,653,335) |
Net increase (decrease) in shares outstanding before conversion | 2,150,842 | 22,738,128 |
Shares converted into Class A (See Note 1) | 1,892 | 20,583 |
Net increase (decrease) | 2,152,734 | $22,758,711 |
Class C | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 50,859 | $ 536,904 |
Shares issued to shareholders in reinvestment of distributions | 132 | 1,425 |
Shares redeemed | (6,573) | (71,192) |
Net increase (decrease) in shares outstanding before conversion | 44,418 | 467,137 |
Shares converted from Class C (See Note 1) | (1,897) | (20,583) |
Net increase (decrease) | 42,521 | $ 446,554 |
Class I | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 194,825 | $ 1,950,450 |
Shares issued to shareholders in reinvestment of distributions | 1,755 | 19,046 |
Shares redeemed | (191,064) | (2,104,762) |
Net increase (decrease) | 5,516 | $ (135,266) |
Class R3 | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 6,075 | $ 63,368 |
Shares issued to shareholders in reinvestment of distributions | 36 | 392 |
Net increase (decrease) | 6,111 | $ 63,760 |
SIMPLE Class | Shares | Amount |
Period ended April 30, 2021: (b) | ||
Shares sold | 19,877 | $ 216,479 |
Shares issued to shareholders in reinvestment of distributions | 41 | 450 |
Shares redeemed | (2,416) | (26,602) |
Net increase (decrease) | 17,502 | $ 190,327 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the SIMPLE Class was August 31, 2020. |
Class A | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 4,954,721 | $54,237,300 |
Shares issued to shareholders in reinvestment of distributions | 17,271 | 194,817 |
Shares redeemed | (403,632) | (4,511,554) |
Net increase (decrease) in shares outstanding before conversion | 4,568,360 | 49,920,563 |
Shares converted into Class A (See Note 1) | 6,604 | 75,948 |
Net increase (decrease) | 4,574,964 | $49,996,511 |
88 | Mainstay ETF Asset Allocation Funds |
Class C | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 53,624 | $ 588,904 |
Shares issued to shareholders in reinvestment of distributions | 155 | 1,749 |
Shares redeemed | (4,385) | (49,693) |
Net increase (decrease) in shares outstanding before conversion | 49,394 | 540,960 |
Shares converted from Class C (See Note 1) | (6,621) | (75,948) |
Net increase (decrease) | 42,773 | $ 465,012 |
Class I | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 194,284 | $ 1,945,000 |
Shares issued to shareholders in reinvestment of distributions | 1,772 | 19,971 |
Shares redeemed | (191,673) | (2,245,853) |
Net increase (decrease) | 4,383 | $ (280,882) |
Class R3 | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 33,920 | $ 383,218 |
Shares issued to shareholders in reinvestment of distributions | 21 | 239 |
Net increase (decrease) | 33,941 | $ 383,457 |
SIMPLE Class | Shares | Amount |
Period ended April 30, 2021: (b) | ||
Shares sold | 42,765 | $ 488,812 |
Shares issued to shareholders in reinvestment of distributions | 68 | 758 |
Shares redeemed | (2,734) | (31,987) |
Net increase (decrease) | 40,099 | $ 457,583 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the SIMPLE Class was August 31, 2020. |
Class A | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 2,537,583 | $29,056,494 |
Shares issued to shareholders in reinvestment of distributions | 7,401 | 87,479 |
Shares redeemed | (222,327) | (2,613,606) |
Shares converted into Class A (See Note 1) | 94 | 1,156 |
Shares converted from Class A (See Note 1) | (29) | (354) |
Net increase (decrease) | 2,322,722 | $26,531,169 |
Class C | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 22,747 | $ 255,421 |
Shares issued to shareholders in reinvestment of distributions | 66 | 777 |
Shares redeemed | (117) | (1,371) |
Shares converted from Class C (See Note 1) | (94) | (1,156) |
Net increase (decrease) | 22,602 | $ 253,671 |
Class I | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 193,850 | $ 1,939,316 |
Shares issued to shareholders in reinvestment of distributions | 1,947 | 22,920 |
Shares redeemed | (192,688) | (2,420,038) |
Net increase (decrease) | 3,109 | $ (457,802) |
Class R3 | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 12,294 | $ 124,997 |
Shares issued to shareholders in reinvestment of distributions | 44 | 519 |
Net increase (decrease) | 12,338 | $ 125,516 |
SIMPLE Class | Shares | Amount |
Period ended April 30, 2021: (b) | ||
Shares sold | 81,926 | $ 985,511 |
Shares issued to shareholders in reinvestment of distributions | 92 | 1,084 |
Shares redeemed | (6,781) | (84,986) |
Shares converted into SIMPLE Class (See Note 1) | 29 | 354 |
Net increase (decrease) | 75,266 | $ 901,963 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the SIMPLE Class was August 31, 2020. |
Class A | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 1,551,616 | $18,998,861 |
Shares issued to shareholders in reinvestment of distributions | 2,490 | 30,705 |
Shares redeemed | (75,463) | (944,522) |
Net increase (decrease) in shares outstanding before conversion | 1,478,643 | 18,085,044 |
Shares converted into Class A (See Note 1) | 3,376 | 44,154 |
Net increase (decrease) | 1,482,019 | $18,129,198 |
Class C | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 20,328 | $ 233,925 |
Shares issued to shareholders in reinvestment of distributions | 29 | 359 |
Shares redeemed | (4,054) | (49,006) |
Net increase (decrease) in shares outstanding before conversion | 16,303 | 185,278 |
Shares converted from Class C (See Note 1) | (3,391) | (44,154) |
Net increase (decrease) | 12,912 | $ 141,124 |
Class I | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 195,586 | $ 1,962,226 |
Shares issued to shareholders in reinvestment of distributions | 2,312 | 28,320 |
Net increase (decrease) | 197,898 | $ 1,990,546 |
Class R3 | Shares | Amount |
Period ended April 30, 2021: (a) | ||
Shares sold | 32,636 | $ 392,024 |
Shares issued to shareholders in reinvestment of distributions | 53 | 645 |
Net increase (decrease) | 32,689 | $ 392,669 |
SIMPLE Class | Shares | Amount |
Period ended April 30, 2021: (b) | ||
Shares sold | 60,280 | $ 777,031 |
Shares issued to shareholders in reinvestment of distributions | 17 | 208 |
Shares redeemed | (698) | (9,450) |
Net increase (decrease) | 59,599 | $ 767,789 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the SIMPLE Class was August 31, 2020. |
90 | Mainstay ETF Asset Allocation Funds |
MainStay Funds Trust:
June 24, 2021
92 | Mainstay ETF Asset Allocation Funds |
MainStay Defensive ETF Allocation Fund | $0 |
MainStay Conservative ETF Allocation Fund | 0 |
MainStay Moderate ETF Allocation Fund | 0 |
MainStay Growth ETF Allocation Fund | 0 |
MainStay Equity ETF Allocation Fund | 0 |
QDI$ | |
MainStay Defensive ETF Allocation Fund | $ 5,651 |
MainStay Conservative ETF Allocation Fund | 24,840 |
MainStay Moderate ETF Allocation Fund | 80,658 |
MainStay Growth ETF Allocation Fund | 53,137 |
MainStay Equity ETF Allocation Fund | 40,768 |
DRD% | |
MainStay Defensive ETF Allocation Fund | 3.15% |
MainStay Conservative ETF Allocation Fund | 8.33% |
MainStay Moderate ETF Allocation Fund | 23.88% |
MainStay Growth ETF Allocation Fund | 30.49% |
MainStay Equity ETF Allocation Fund | 44.57% |
FTC$ | |
MainStay Defensive ETF Allocation Fund | $0 |
MainStay Conservative ETF Allocation Fund | 0 |
MainStay Moderate ETF Allocation Fund | 0 |
MainStay Growth ETF Allocation Fund | 0 |
MainStay Equity ETF Allocation Fund | 0 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 76 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017 |
* | This Trustee is considered to be an “interested person” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund, within the meaning of the 1940 Act because of her affiliation with New York Life Insurance Company, New York Life Investment Management LLC, Candriam Belgium S.A., Candriam Luxembourg S.C.A., IndexIQ Advisors LLC, MacKay Shields LLC, NYL Investors LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail above in the column entitled “Principal Occupation(s) During Past Five Years.” |
94 | Mainstay ETF Asset Allocation Funds |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Market Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, Chair of the Investment Committee since 2018 | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007;MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 76 | MainStay VP Funds Trust: Chairman since 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee;MainStay Funds Trust: Trustee and Audit Committee Financial Expert since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 76 | MainStay VP Funds Trust: Trustee and Audit Committee Financial Expert since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee and Audit Committee Financial Expert since 2011; State Farm Associates Funds Trusts: Trustee since 2005 (4 portfolios) | |
Richard H. Nolan, Jr. 1946 | MainStay Funds: Trustee since 2007;MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 76 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC (since 2018); President, Fidelity Management & Research Company (2009 to 2014); Founder, President and Chief Executive Officer, Geode Capital Management, LLC (2001 to 2009) | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI Inc.: Director since 2017 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994;MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 76 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 |
** | Includes prior service as a Director/Trustee of certain predecessor entities to MainStay Funds Trust. |
*** | Includes prior service as a Director of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
96 | Mainstay ETF Asset Allocation Funds |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds and MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers since 2017 and Senior Managing Director since 2018, NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017**; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2007**; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2010** | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2005** | ||
Yi-Chia Kuo 1981 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2020 | Chief Compliance Officer, Index IQ Trust, Index IQ ETF Trust and Index IQ Active ETF Trust since 2020; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2020; Director and Associate General Counsel, New York Life Insurance Company (2015 to 2019) |
* | The officers listed above are considered to be “interested persons” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund within the meaning of the 1940 Act because of their affiliation with the MainStay Group of Funds, New York Life Insurance Company and/or its affiliates, including New York Life Investment Management LLC, NYLIM Service Company LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail in the column captioned “Principal Occupation(s) During Past Five Years.” Officers are elected annually by the Board. |
** | Includes prior service as an Officer of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
1.
2. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
3. | An affiliate of New York Life Investment Management LLC. |
1900828MS071-21 | MSAAETF11-06/21 |
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 |
President
Average Annual Total Returns for the Year-Ended April 30, 2021 | ||||||
Class | Sales Charge | Inception Date | One Year | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 4.5% Initial Sales Charge | With sales charges | 6/28/2019 | 5.07% | 1.91% | 1.12% |
Excluding sales charges | 10.02 | 4.49 | 1.12 | |||
Investor Class Shares2 | Maximum 4% Initial Sales Charge | With sales charges | 6/28/2019 | 4.71 | 1.66 | 1.13 |
Excluding sales charges | 9.65 | 4.24 | 1.13 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/28/2019 | 8.49 | 4.04 | 1.38 |
if redeemed Within One Year of Purchase | Excluding sales charges | 9.49 | 4.04 | 1.38 | ||
Class I Shares | No Sales Charge | 6/28/2019 | 10.28 | 4.69 | 0.87 | |
Class R6 Shares | No Sales Charge | 6/28/2019 | 10.28 | 4.70 | 0.86 |
1. | 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. |
2. | Prior to June 30, 2020, the maximum initial sales charge was 4.5%, which is reflected in the average annual total return figures shown. |
Benchmark Performance | One Year | Since Inception |
Bloomberg Barclays Municipal 1-15 Yr Blend Index1 | 6.33% | 3.80% |
Morningstar Municipal National Intermediate Category Average2 | 8.30 | 3.86 |
1. | The Bloomberg Barclays Municipal 1-15 Yr Blend Index is the Fund’s primary broad-based securities-market index for comparison purposes. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly into an index. |
2. | The Morningstar Municipal National Intermediate 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. To lower risk, these portfolios spread their assets across many states and sectors. These portfolios have durations of 4.0 to 6.0 years (or average maturities of five to 12 years). Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay MacKay Intermediate Tax Free Bond Fund |
Share Class | Beginning Account Value 11/1/20 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/21 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/21 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,040.10 | $3.64 | $1,021.22 | $3.61 | 0.72% |
Investor Class Shares | $1,000.00 | $1,036.40 | $5.30 | $1,019.59 | $5.26 | 1.05% |
Class C Shares | $1,000.00 | $1,036.20 | $6.51 | $1,018.40 | $6.46 | 1.29% |
Class I Shares | $1,000.00 | $1,040.30 | $2.53 | $1,022.32 | $2.51 | 0.50% |
Class R6 Shares | $1,000.00 | $1,040.20 | $2.53 | $1,022.32 | $2.51 | 0.50% |
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. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Illinois | 15.8% |
New York | 9.3 |
California | 8.3 |
Pennsylvania | 5.0 |
Florida | 4.7 |
Utah | 3.7 |
Washington | 3.5 |
Texas | 3.2 |
New Jersey | 3.1 |
Nevada | 3.0 |
Georgia | 2.7 |
Connecticut | 2.7 |
Guam | 2.2 |
Idaho | 2.0 |
Indiana | 1.9 |
Michigan | 1.9 |
Colorado | 1.8 |
Louisiana | 1.8 |
Mississippi | 1.7 |
New Mexico | 1.7% |
Nebraska | 1.6 |
Missouri | 1.5 |
Alabama | 1.3 |
South Carolina | 1.3 |
Ohio | 1.2 |
Puerto Rico | 1.1 |
Arizona | 1.1 |
Maryland | 1.0 |
North Carolina | 0.9 |
Kentucky | 0.9 |
New Hampshire | 0.9 |
Wisconsin | 0.8 |
Kansas | 0.7 |
Alaska | 0.5 |
U.S. Virgin Islands | 0.2 |
Other Assets, Less Liabilities | 5.0 |
100.0% |
1. | California Municipal Finance Authority, 5.00%, due 5/15/26–5/15/36 |
2. | Metropolitan Transportation Authority, 5.00%, due 11/15/29–11/15/42 |
3. | State of New Jersey, 4.00%, due 6/1/30 |
4. | Cook County Township High School District No. 220 Reavis, 5.00%, due 12/1/29 |
5. | State of Connecticut, 4.00%, due 5/1/36–5/1/38 |
6. | Washington State Convention Center Public Facilities District, 5.00%, due 7/1/37 |
7. | City of Shreveport LA, 5.00%, due 12/1/32 |
8. | Chicago Park District, 5.00%, due 1/1/23–1/1/24 |
9. | Chicago Board of Education, (zero coupon)-5.00%, due 12/1/25–12/1/34 |
10. | Utah Charter School Finance Authority, 4.00%-5.00%, due 4/15/25–4/15/40 |
8 | MainStay MacKay Intermediate Tax Free Bond Fund |
1. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns. |
2. | An obligation rated ‘AA’ by Standard & Poor’s (“S&P”) is deemed by S&P to differ from the highest-rated obligations only to a small degree. In the opinion of S&P, the obligor's capacity to meet its financial commitment on the obligation is very strong. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
3. | An obligation rated ‘AAA’ has the highest rating assigned S&P, and in the opinion of S&P, the obligor’s capacity to meet its financial commitment on the obligation is extremely strong. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
4. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
5. | Modified duration is inversely related to the approximate percentage change in price for a given change in yield. Duration to worst is the duration of a bond computed using the bond’s nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. |
6. | An obligation rated ‘BBB’ by S&P is deemed by S&P to exhibit adequate protection parameters. In the opinion of S&P, however, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
7. | An obligation rated ‘AAA’ has the highest rating assigned by S&P, and in the opinion of S&P, the obligor’s capacity to meet its financial commitment on the obligation is extremely strong. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
10 | MainStay MacKay Intermediate Tax Free Bond Fund |
Principal Amount | Value | |
Municipal Bonds 95.0% | ||
Long-Term Municipal Bonds 93.8% | ||
Alabama 1.3% | ||
Chilton County Health Care Authority, Sales Tax, Chilton County Hospital Project, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/28 | $ 200,000 | $ 232,594 |
Homewood Educational Building Authority, Samford University, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 12/1/41 | 500,000 | 537,721 |
770,315 | ||
Alaska 0.5% | ||
Alaska Industrial Development & Export Authority, Interior Gas Utility Project, Revenue Bonds | ||
Series 2020 A | ||
5.00%, due 6/1/28 | 250,000 | 289,680 |
Arizona 1.1% | ||
Arizona Industrial Development Authority, Equitable School Revolving Fund LLC, Revenue Bonds | ||
5.00%, due 11/1/23 | 250,000 | 277,511 |
5.00%, due 11/1/25 | 340,000 | 402,599 |
680,110 | ||
California 8.3% | ||
ABAG Finance Authority for Nonprofit Corp., Windemere Ranch Infrastructure Financing Program, Special Tax | ||
Insured: AGM | ||
5.00%, due 9/2/30 | 70,000 | 87,705 |
California County Tobacco Securitization Agency, Tobacco Settlement, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 6/1/30 | 250,000 | 331,701 |
California Municipal Finance Authority, UCR North District Phhase I Student Housing Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/15/26 | 500,000 | 600,942 |
Principal Amount | Value | |
California (continued) | ||
California Municipal Finance Authority, CHF-Davis I LLC, West Village Student Housing Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/15/36 | $ 1,000,000 | $ 1,231,577 |
California Statewide Communities Development Authority, Community Infrastructure Program, Special Assessment | ||
Series 2021 A | ||
4.00%, due 9/2/26 (a) | 260,000 | 288,051 |
City of Los Angeles, Department of Airports, Revenue Bonds | ||
5.00%, due 5/15/32 (b) | 650,000 | 827,331 |
Riverside County Community Facilities Districts, Special Tax | ||
Insured: AGM | ||
4.00%, due 9/1/40 | 200,000 | 238,015 |
Roseville Joint Union High School District, School Financing Project, Certificate of Participation | ||
Insured: BAM | ||
2.125%, due 6/1/35 | 500,000 | 504,112 |
South Bay Union School District, Unlimited General Obligation | ||
(zero coupon), due 8/1/22 | 1,000,000 | 994,434 |
5,103,868 | ||
Colorado 1.8% | ||
Colorado Health Facilities Authority, CommonSpirit Health, Revenue Bonds | ||
Series A-2 | ||
5.00%, due 8/1/32 | 110,000 | 140,061 |
Series A-2 | ||
5.00%, due 8/1/33 | 90,000 | 114,045 |
Series A-1 | ||
5.00%, due 8/1/34 | 75,000 | 94,769 |
Series A-1 | ||
5.00%, due 8/1/35 | 105,000 | 132,399 |
Crystal Valley Metropolitan District No. 2, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/36 | 500,000 | 597,174 |
1,078,448 | ||
Connecticut 2.7% | ||
State of Connecticut, Special Tax | ||
4.00%, due 5/1/36 | 500,000 | 597,919 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Connecticut (continued) | ||
State of Connecticut, Special Tax | ||
Series A | ||
4.00%, due 5/1/38 (a) | $ 500,000 | $ 605,731 |
University of Connecticut, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 1/15/37 | 385,000 | 465,366 |
1,669,016 | ||
Florida 4.7% | ||
Central Florida Expressway Authority, Revenue Bonds, Senior Lien | ||
Insured: AGM | ||
4.00%, due 7/1/38 | 250,000 | 305,980 |
County of Osceola, Transportation, Revenue Bonds | ||
Series A-1 | ||
5.00%, due 10/1/31 | 350,000 | 453,903 |
East Nassau Stewardship District, Special Assessment | ||
2.40%, due 5/1/26 | 50,000 | 50,073 |
Florida Municipal Power Agency, Revenue Bonds | ||
Series A | ||
3.00%, due 10/1/33 | 100,000 | 109,863 |
Harbor Bay Community Development District, Special Assessment | ||
Series A-1 | ||
3.10%, due 5/1/24 | 445,000 | 453,546 |
Series A-2 | ||
3.10%, due 5/1/24 | 295,000 | 300,685 |
Pinellas County Industrial Development Authority, Drs Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc. Project, Revenue Bonds | ||
5.00%, due 7/1/29 | 600,000 | 687,076 |
State of Florida, Unlimited General Obligation | ||
Series C | ||
4.00%, due 6/1/30 | 500,000 | 519,928 |
Verano No. 3 Community Development District, Special Assessment | ||
2.375%, due 5/1/26 | 50,000 | 50,277 |
2,931,331 |
Principal Amount | Value | |
Georgia 1.9% | ||
Brookhaven Development Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
5.00%, due 7/1/22 | $ 500,000 | $ 528,235 |
Municipal Electric Authority of Georgia, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/38 | 500,000 | 613,382 |
1,141,617 | ||
Guam 2.2% | ||
Guam Government Waterworks Authority, Water and Wastewater System, Revenue Bonds | ||
5.25%, due 7/1/33 | 500,000 | 552,975 |
Guam Power Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/34 | 385,000 | 400,238 |
Territory of Guam, Business Privilege Tax, Revenue Bonds | ||
Series D | ||
5.00%, due 11/15/27 | 365,000 | 419,605 |
1,372,818 | ||
Idaho 2.0% | ||
Idaho Health Facilities Authority, ADA County Coroner Project, Revenue Bonds | ||
4.00%, due 9/1/40 | 400,000 | 471,513 |
Idaho Health Facilities Authority, Madison Memorial Hospital, Revenue Bonds | ||
5.00%, due 9/1/37 | 370,000 | 412,071 |
Idaho Housing & Finance Association, Revenue Bonds | ||
Series A | ||
5.00%, due 7/15/33 | 250,000 | 333,964 |
1,217,548 | ||
Illinois 15.8% | ||
Chicago Board of Education, Capital Appreciation, Unlimited General Obligation | ||
Series A, Insured: NATL | ||
(zero coupon), due 12/1/25 | 500,000 | 469,378 |
Chicago Board of Education, Unlimited General Obligation | ||
Series A | ||
5.00%, due 12/1/34 | 500,000 | 620,057 |
12 | MainStay MacKay Intermediate Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Chicago O'Hare International Airport, Revenue Bonds, Senior Lien | ||
Series C | ||
5.00%, due 1/1/28 | $ 200,000 | $ 238,918 |
Series C | ||
5.00%, due 1/1/34 | 250,000 | 296,970 |
Chicago Park District, Limited General Obligation | ||
Series C | ||
5.00%, due 1/1/23 | 500,000 | 535,382 |
Series B | ||
5.00%, due 1/1/24 | 500,000 | 556,229 |
City of Chicago IL, Wastewater Transmission Project, Revenue Bonds, Second Lien | ||
Insured: AGM | ||
5.00%, due 1/1/31 | 500,000 | 557,634 |
City of Monmouth IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/27 | 300,000 | 317,913 |
Cook County Township High School District No. 220 Reavis, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 12/1/29 | 1,000,000 | 1,293,694 |
Illinois Finance Authority, Carle Foundation (The), Revenue Bonds | ||
Series A | ||
5.00%, due 8/15/34 (a) | 250,000 | 333,684 |
Kankakee County School District No. 111 Kankakee, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 1/1/23 | 265,000 | 278,669 |
Peoria County Community Unit School District No. 323, Unlimited General Obligation | ||
4.00%, due 4/1/28 | 250,000 | 295,294 |
Regional Transportation Authority, Revenue Bonds | ||
Series A, Insured: NATL | ||
5.50%, due 7/1/24 | 160,000 | 184,497 |
Sales Tax Securitization Corp., Revenue Bonds, Second Lien | ||
Series A | ||
5.00%, due 1/1/30 | 500,000 | 646,798 |
Principal Amount | Value | |
Illinois (continued) | ||
Sangamon County School District No. 186 Springfield, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
5.00%, due 6/1/29 | $ 555,000 | $ 718,807 |
Sangamon Logan & Menard Counties Community Unit School Dist No. 15 Williamsville, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 12/1/34 | 250,000 | 316,587 |
Southwestern Illinois Development Authority, Southwestern Illinois Flood Prevention District Council, Revenue Bonds | ||
4.00%, due 4/15/33 | 250,000 | 299,540 |
State of Illinois, Unlimited General Obligation | ||
Series D | ||
5.00%, due 11/1/24 | 250,000 | 284,600 |
5.50%, due 5/1/39 | 500,000 | 638,162 |
Village of Mundelein, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/15/25 | 210,000 | 240,475 |
Insured: AGM | ||
4.00%, due 12/15/39 | 250,000 | 290,175 |
Village of Westchester, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/21 | 350,000 | 357,536 |
9,770,999 | ||
Indiana 1.9% | ||
City of Fort Wayne IN, Waterworks Utility, Revenue Bonds | ||
Series A | ||
0.05%, due 12/1/39 (c) | 1,275,000 | 834,699 |
Muncie Sanitary District, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/29 | 250,000 | 321,820 |
1,156,519 | ||
Kansas 0.7% | ||
City of Wichita KS, Presbyterian Manors, Inc., Revenue Bonds | ||
4.00%, due 5/15/21 | 450,000 | 450,100 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Kentucky 0.9% | ||
Kentucky Economic Development Finance Authority, Next Generation Kentucky Information Highway Project, Revenue Bonds, Senior Lien | ||
5.00%, due 7/1/28 | $ 500,000 | $ 575,303 |
Louisiana 1.8% | ||
City of Shreveport LA, Water & Sewer, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 12/1/32 | 920,000 | 1,121,070 |
Maryland 1.0% | ||
County of Frederick, Urbana Community Development Authority, Special Tax, Senior Lien | ||
Series A | ||
4.00%, due 7/1/34 | 500,000 | 597,403 |
Michigan 1.9% | ||
Calhoun County Hospital Finance Authority, Oaklawn Hospital, Revenue Bonds | ||
5.00%, due 2/15/28 | 240,000 | 277,436 |
Michigan Finance Authority, Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series A | ||
4.00%, due 6/1/34 | 500,000 | 607,395 |
Michigan Finance Authority, Public Lighting Authority Local Project, Revenue Bonds | ||
5.00%, due 7/1/31 | 100,000 | 109,121 |
Michigan Mathematics & Science Initiative, Revenue Bonds | ||
4.00%, due 1/1/31 | 165,000 | 186,827 |
1,180,779 | ||
Mississippi 1.7% | ||
Mississippi Hospital Equipment & Facilities Authority, Forrest County General Hospital Project, Revenue Bonds | ||
5.00%, due 1/1/34 | 810,000 | 1,018,042 |
Missouri 1.5% | ||
City of St Louis MO, Airport, Revenue Bonds | ||
5.00%, due 7/1/36 (b) | 725,000 | 902,466 |
Principal Amount | Value | |
Nebraska 1.6% | ||
Central Plains Energy Project, Nebraska Gas Project No. 4, Revenue Bonds | ||
5.00%, due 3/1/50 (d) | $ 900,000 | $ 1,001,885 |
Nevada 3.0% | ||
City of North Las Vegas NV, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 6/1/26 | 785,000 | 957,698 |
City of Sparks NV, Sales Tax, Revenue Bonds, Senior Lien | ||
Series A | ||
2.75%, due 6/15/28 (e) | 600,000 | 618,096 |
Las Vegas Convention & Visitors Authority, Convention Center Expansion, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/43 | 250,000 | 297,908 |
1,873,702 | ||
New Hampshire 0.9% | ||
New Hampshire Business Finance Authority, Pennichuck Water Works, Inc. Project, Revenue Bonds | ||
4.00%, due 4/1/30 (b) | 500,000 | 560,932 |
New Jersey 3.1% | ||
Essex County Improvement Authority, North Star Academy Charter School Project, Revenue Bonds | ||
4.00%, due 7/15/30 (e) | 250,000 | 289,253 |
Passaic Valley Sewerage Commission, Revenue Bonds | ||
Series J, Insured: AGM | ||
3.00%, due 12/1/32 | 250,000 | 278,578 |
State of New Jersey, COVID-19 General Obligation Emergency Bonds, Unlimited General Obligation | ||
Series A | ||
4.00%, due 6/1/30 | 1,100,000 | 1,350,921 |
1,918,752 | ||
New Mexico 1.7% | ||
City of Santa Fe NM, El Castillo Retirement Residences Project, Revenue Bonds | ||
2.25%, due 5/15/24 | 300,000 | 300,535 |
14 | MainStay MacKay Intermediate Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Mexico (continued) | ||
New Mexico Hospital Equipment Loan Council, La Vida Expansion Project, Revenue Bonds | ||
2.25%, due 7/1/23 | $ 750,000 | $ 750,328 |
1,050,863 | ||
New York 9.3% | ||
Albany Capital Resource Corp., Albany Leadership Charter High School For Girls Project, Revenue Bonds | ||
4.00%, due 6/1/29 | 445,000 | 488,638 |
Metropolitan Transportation Authority, Green Bond, Revenue Bonds | ||
Series A1 | ||
5.00%, due 11/15/29 | 500,000 | 594,713 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Series C | ||
5.00%, due 11/15/38 | 250,000 | 268,501 |
Series C | ||
5.00%, due 11/15/42 | 500,000 | 536,079 |
Monroe County Industrial Development Corp., Rochester Regional Health Project, Revenue Bonds | ||
4.00%, due 12/1/36 | 375,000 | 440,665 |
New York Liberty Development Corp., Bank of America Tower at One Bryant Park Project, Revenue Bonds | ||
2.45%, due 9/15/69 | 500,000 | 519,950 |
New York State Dormitory Authority, Revenue Bonds | ||
Series A | ||
3.00%, due 3/15/38 | 250,000 | 269,206 |
New York State Thruway Authority, Revenue Bonds | ||
Series L | ||
5.00%, due 1/1/32 | 250,000 | 312,455 |
New York State Urban Development Corp., Personal Income Tax, General Purpose, Revenue Bonds | ||
Series A | ||
5.00%, due 3/15/36 | 750,000 | 976,798 |
New York Transportation Development Corp., John F. kennedy International Airport Project, Revenue Bonds | ||
5.00%, due 12/1/27 | 500,000 | 626,902 |
Principal Amount | Value | |
New York (continued) | ||
Port Authority of New York & New Jersey, Revenue Bonds | ||
4.00%, due 9/1/43 | $ 400,000 | $ 461,999 |
Triborough Bridge & Tunnel Authority, Revenue Bonds, Senior Lien | ||
Series A-2 | ||
(zero coupon), due 5/15/45 (d) | 250,000 | 267,596 |
5,763,502 | ||
North Carolina 0.9% | ||
North Carolina Turnpike Authority, Triangle Expressway System, Revenue Bonds, Senior Lien | ||
5.00%, due 2/1/24 | 500,000 | 563,560 |
Ohio 0.8% | ||
Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project, Revenue Bonds | ||
2.875%, due 2/1/26 | 250,000 | 261,871 |
West Carrollton City School District, Unlimited General Obligation | ||
Series A, Insured: School District Credit Program | ||
4.00%, due 12/1/21 | 250,000 | 255,559 |
517,430 | ||
Pennsylvania 5.0% | ||
Bucks County Industrial Development Authority, Grand View Hospital Project, Revenue Bonds | ||
5.00%, due 7/1/34 | 300,000 | 371,634 |
5.00%, due 7/1/35 | 300,000 | 370,756 |
City of Philadelphia PA, Airport, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/35 | 500,000 | 600,751 |
Dauphin County General Authority, Harrisburg University of Science & Technology, Revenue Bonds | ||
4.25%, due 10/15/26 (e) | 100,000 | 105,005 |
Forest Hills School District, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 8/15/22 (a) | 250,000 | 264,680 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
North Pocono School District, Regional Wastewater, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 9/15/32 | $ 500,000 | $ 597,080 |
Philadelphia Authority for Industrial Development, Philadelphia Performing Arts Charter School Project, Revenue Bonds | ||
5.00%, due 6/15/30 (e) | 435,000 | 518,898 |
Warrior Run School District, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 9/1/36 | 255,000 | 283,106 |
3,111,910 | ||
Puerto Rico 1.1% | ||
Commonwealth of Puerto Rico, Public Improvement, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/35 | 100,000 | 104,036 |
Puerto Rico Sales Tax Financing Corp., Revenue Bonds | ||
Series A-2 | ||
4.329%, due 7/1/40 | 50,000 | 54,779 |
Series A-1 | ||
4.50%, due 7/1/34 | 500,000 | 546,810 |
705,625 | ||
South Carolina 1.3% | ||
East Richland County Public Service District, Revenue Bonds | ||
4.00%, due 1/1/22 | 500,000 | 512,729 |
South Carolina Public Service Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 12/1/37 | 250,000 | 297,888 |
810,617 | ||
Texas 3.2% | ||
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien | ||
Series B | ||
5.00%, due 1/1/37 | 100,000 | 129,519 |
City of Houston TX, Hotel Occupancy Tax & Special Tax, Revenue Bonds | ||
5.00%, due 9/1/28 | 365,000 | 440,735 |
Principal Amount | Value | |
Texas (continued) | ||
City of San Antonio TX, Electric & Gas Systems, Revenue Bonds | ||
4.00%, due 2/1/34 | $ 250,000 | $ 287,461 |
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds | ||
5.00%, due 12/15/22 | 250,000 | 268,723 |
5.00%, due 12/15/23 | 250,000 | 279,681 |
Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group LLC I-635 Managed Lanes Project, Revenue Bonds, Senior Lien | ||
4.00%, due 6/30/32 | 500,000 | 596,471 |
2,002,590 | ||
U.S. Virgin Islands 0.2% | ||
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 10/1/30 | 100,000 | 105,136 |
Utah 3.7% | ||
Utah Charter School Finance Authority, North Star Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/30 | 100,000 | 118,801 |
Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/40 | 250,000 | 287,550 |
Utah Charter School Finance Authority, Summit Academy, Inc. Project, Revenue Bonds | ||
Insured: UT CSCE | ||
5.00%, due 4/15/25 | 135,000 | 155,756 |
Insured: UT CSCE | ||
5.00%, due 4/15/28 | 200,000 | 247,070 |
Insured: UT CSCE | ||
5.00%, due 4/15/29 | 185,000 | 231,682 |
Utah Infrastructure Agency, Revenue Bonds | ||
5.00%, due 10/15/27 | 250,000 | 310,423 |
Series A | ||
5.00%, due 10/15/28 | 460,000 | 567,104 |
16 | MainStay MacKay Intermediate Tax Free Bond Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Utah (continued) | ||
Utah Transit Authority, Revenue Bonds | ||
Series C, Insured: AGM | ||
5.25%, due 6/15/27 | $ 300,000 | $ 377,583 |
2,295,969 | ||
Washington 3.5% | ||
Lewis County School District No. 226 Adna, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
4.00%, due 12/1/28 | 390,000 | 446,936 |
Washington State Convention Center Public Facilities District, Revenue Bonds | ||
5.00%, due 7/1/37 | 1,000,000 | 1,183,982 |
Washington State Housing Finance Commission, Transforming Age Projects, Revenue Bonds | ||
2.375%, due 1/1/26 (e) | 500,000 | 499,997 |
2,130,915 | ||
Wisconsin 0.8% | ||
Wisconsin Health & Educational Facilities Authority, Marshfield Clinic Health System, Inc., Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 2/15/32 | 400,000 | 519,932 |
Total Long-Term Municipal Bonds (Cost $55,557,770) | 57,960,752 | |
Short-Term Municipal Notes 1.2% | ||
Georgia 0.8% | ||
Development Authority of Burke County (The), Georgia Power Company Plant Vogtle Project, Revenue Bonds | ||
0.06%, due 11/1/52 (f) | 500,000 | 500,000 |
Principal Amount | Value | ||
Ohio 0.4% | |||
State of Ohio, Republic Services, Inc., Revenue Bonds | |||
0.15%, due 11/1/35 (f) | $ 250,000 | $ 250,002 | |
Total Short-Term Municipal Notes (Cost $750,000) | 750,002 | ||
Total Investments (Cost $56,307,770) | 95.0% | 58,710,754 | |
Other Assets, Less Liabilities | 5.0 | 3,099,969 | |
Net Assets | 100.0% | $ 61,810,723 |
† | Percentages indicated are based on Fund net assets. |
(a) | Delayed delivery security. |
(b) | Interest on these securities was subject to alternative minimum tax. |
(c) | Floating rate—Rate shown was the rate in effect as of April 30, 2021. |
(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, 2021. |
(e) | 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. |
(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. |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Short Contracts | |||||
U.S. Treasury 5 Year Notes | (60) | June 2021 | $ (7,432,368) | $ (7,436,250) | $ (3,882) |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
U.S. Treasury 10 Year Notes | (35) | June 2021 | $ (4,700,835) | $ (4,621,094) | $ 79,741 |
Net Unrealized Appreciation | $ 75,859 |
1. | As of April 30, 2021, cash in the amount of $101,375 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, 2021. |
Abbreviation(s): |
AGM—Assured Guaranty Municipal Corp. |
BAM—Build America Mutual Assurance Co. |
NATL—National Public Finance Guarantee Corp. |
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 | $ — | $ 57,960,752 | $ — | $ 57,960,752 | |||
Short-Term Municipal Notes | — | 750,002 | — | 750,002 | |||
Other Financial Instruments | |||||||
Futures Contracts (b) | 79,741 | — | — | 79,741 | |||
Total Other Financial Instruments | 79,741 | — | — | 79,741 | |||
Total Investments in Securities and Other Financial Instruments | $ 79,741 | $ 58,710,754 | $ — | $ 58,790,495 | |||
Liability Valuation Inputs | |||||||
Other Financial Instruments | |||||||
Futures Contracts (b) | $ (3,882) | $ — | $ — | $ (3,882) |
(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. |
18 | MainStay MacKay Intermediate Tax Free Bond Fund |
Assets | |
Investment in securities, at value (identified cost $56,307,770) | $58,710,754 |
Cash collateral on deposit at broker for futures contracts | 101,375 |
Cash | 2,577,716 |
Receivables: | |
Investment securities sold | 2,213,063 |
Interest | 665,709 |
Fund shares sold | 70 |
Other assets | 21,541 |
Total assets | 64,290,228 |
Liabilities | |
Payables: | |
Investment securities purchased | 2,382,275 |
Professional fees | 60,411 |
Shareholder communication | 9,569 |
Manager (See Note 3) | 9,169 |
Custodian | 7,935 |
Variation margin on futures contracts | 3,984 |
Transfer agent (See Note 3) | 1,429 |
Fund shares redeemed | 844 |
NYLIFE Distributors (See Note 3) | 128 |
Accrued expenses | 3,761 |
Total liabilities | 2,479,505 |
Net assets | $61,810,723 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 5,934 |
Additional paid-in-capital | 59,451,770 |
59,457,704 | |
Total distributable earnings (loss) | 2,353,019 |
Net assets | $61,810,723 |
Class A | |
Net assets applicable to outstanding shares | $ 454,275 |
Shares of beneficial interest outstanding | 43,564 |
Net asset value per share outstanding | $ 10.43 |
Maximum sales charge (4.50% of offering price) | 0.49 |
Maximum offering price per share outstanding | $ 10.92 |
Investor Class | |
Net assets applicable to outstanding shares | $ 33,312 |
Shares of beneficial interest outstanding | 3,199 |
Net asset value per share outstanding | $ 10.41 |
Maximum sales charge (4.00% of offering price) | 0.43 |
Maximum offering price per share outstanding | $ 10.84 |
Class C | |
Net assets applicable to outstanding shares | $ 112,895 |
Shares of beneficial interest outstanding | 10,837 |
Net asset value and offering price per share outstanding | $ 10.42 |
Class I | |
Net assets applicable to outstanding shares | $61,183,047 |
Shares of beneficial interest outstanding | 5,874,141 |
Net asset value and offering price per share outstanding | $ 10.42 |
Class R6 | |
Net assets applicable to outstanding shares | $ 27,194 |
Shares of beneficial interest outstanding | 2,611 |
Net asset value and offering price per share outstanding | $ 10.42 |
Investment Income (Loss) | |
Income | |
Interest | $1,271,934 |
Expenses | |
Manager (See Note 3) | 229,975 |
Registration | 82,794 |
Professional fees | 66,521 |
Custodian | 19,495 |
Offering (See Note 2) | 16,423 |
Shareholder communication | 11,726 |
Distribution/Service—Class A (See Note 3) | 793 |
Distribution/Service—Investor Class (See Note 3) | 76 |
Distribution/Service—Class C (See Note 3) | 543 |
Transfer agent (See Note 3) | 1,399 |
Trustees | 1,183 |
Insurance | 712 |
Miscellaneous | 8,029 |
Total expenses before waiver/reimbursement | 439,669 |
Expense waiver/reimbursement from Manager (See Note 3) | (152,825) |
Net expenses | 286,844 |
Net investment income (loss) | 985,090 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | 602,946 |
Futures transactions | (129,225) |
Net realized gain (loss) | 473,721 |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | 3,616,769 |
Futures contracts | 329,701 |
Net change in unrealized appreciation (depreciation) | 3,946,470 |
Net realized and unrealized gain (loss) | 4,420,191 |
Net increase (decrease) in net assets resulting from operations | $5,405,281 |
20 | MainStay MacKay Intermediate Tax Free Bond Fund |
for the years ended April 30, 2021 and period June 28, 2019 (inception date) through April 30, 2020
2021 | 2020 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 985,090 | $ 672,272 |
Net realized gain (loss) | 473,721 | 97,052 |
Net change in unrealized appreciation (depreciation) | 3,946,470 | (1,467,627) |
Net increase (decrease) in net assets resulting from operations | 5,405,281 | (698,303) |
Distributions to shareholders: | ||
Class A | (5,923) | (902) |
Investor Class | (499) | (515) |
Class C | (1,494) | (599) |
Class I | (1,204,650) | (1,138,280) |
Class R6 | (557) | (568) |
Total distributions to shareholders | (1,213,123) | (1,140,864) |
Capital share transactions: | ||
Net proceeds from sales of shares | 8,948,573 | 52,586,140 |
Net asset value of shares issued to shareholder in reinvestment of distributions | 1,212,572 | 1,140,649 |
Cost of shares redeemed | (3,874,286) | (555,916) |
Increase (decrease) in net assets derived from capital share transactions | 6,286,859 | 53,170,873 |
Net increase (decrease) in net assets | 10,479,017 | 51,331,706 |
Net Assets | ||
Beginning of year | 51,331,706 | — |
End of year | $61,810,723 | $51,331,706 |
Year Ended April 30, | June 28, 2019^ through April 30, | ||
Class A | 2021 | 2020 | |
Net asset value at beginning of year | $ 9.65 | $ 10.00 | |
Net investment income (loss) | 0.15(a) | 0.14 | |
Net realized and unrealized gain (loss) on investments | 0.82 | (0.29) | |
Total from investment operations | 0.97 | (0.15) | |
Less distributions: | |||
From net investment income | (0.19) | (0.14) | |
From net realized gain on investments | — | (0.06) | |
Total distributions | (0.19) | (0.20) | |
Net asset value at end of year | $ 10.43 | $ 9.65 | |
Total investment return (b) | 10.02% | (1.44)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.47% | 1.39%†† | |
Net expenses | 0.72% | 0.77%†† | |
Expenses (before waiver/reimbursement) | 0.98% | 1.12%†† | |
Portfolio turnover rate (c) | 66% | 108% | |
Net assets at end of year (in 000’s) | $ 454 | $ 136 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | June 28, 2019^ through April 30, | ||
Investor Class | 2021 | 2020 | |
Net asset value at beginning of year | $ 9.65 | $ 10.00 | |
Net investment income (loss) | 0.13(a) | 0.14 | |
Net realized and unrealized gain (loss) on investments | 0.80 | (0.29) | |
Total from investment operations | 0.93 | (0.15) | |
Less distributions: | |||
From net investment income | (0.17) | (0.14) | |
From net realized gain on investments | — | (0.06) | |
Total distributions | (0.17) | (0.20) | |
Net asset value at end of year | $ 10.41 | $ 9.65 | |
Total investment return (b) | 9.65% | (1.56)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.23% | 1.30%†† | |
Net expenses | 0.98% | 0.79%†† | |
Expenses (before waiver/reimbursement) | 1.24% | 1.14%†† | |
Portfolio turnover rate (c) | 66% | 108% | |
Net assets at end of year (in 000’s) | $ 33 | $ 34 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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) | The portfolio turnover rate includes variable rate demand notes. |
22 | MainStay MacKay Intermediate Tax Free Bond Fund |
Year Ended April 30, | June 28, 2019^ through April 30, | ||
Class C | 2021 | 2020 | |
Net asset value at beginning of year | $ 9.65 | $ 10.00 | |
Net investment income (loss) | 0.10(a) | 0.12 | |
Net realized and unrealized gain (loss) on investments | 0.81 | (0.29) | |
Total from investment operations | 0.91 | (0.17) | |
Less distributions: | |||
From net investment income | (0.14) | (0.12) | |
From net realized gain on investments | — | (0.06) | |
Total distributions | (0.14) | (0.18) | |
Net asset value at end of year | $ 10.42 | $ 9.65 | |
Total investment return (b) | 9.49% | (1.76)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 0.97% | 1.11%†† | |
Net expenses | 1.23% | 1.03%†† | |
Expenses (before waiver/reimbursement) | 1.49% | 1.38%†† | |
Portfolio turnover rate (c) | 66% | 108% | |
Net assets at end of year (in 000’s) | $ 113 | $ 79 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | June 28, 2019 through April 30, | ||
Class I | 2021 | 2020 ^ | |
Net asset value at beginning of year | $ 9.65 | $ 10.00 | |
Net investment income (loss) | 0.18(a) | 0.16 | |
Net realized and unrealized gain (loss) on investments | 0.81 | (0.29) | |
Total from investment operations | 0.99 | (0.13) | |
Less distributions: | |||
From net investment income | (0.22) | (0.16) | |
From net realized gain on investments | — | (0.06) | |
Total distributions | (0.22) | (0.22) | |
Net asset value at end of year | $ 10.42 | $ 9.65 | |
Total investment return (b) | 10.28% | (1.35)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.72% | 1.57%†† | |
Net expenses | 0.50% | 0.53%†† | |
Expenses (before waiver/reimbursement) | 0.76% | 0.88%†† | |
Portfolio turnover rate (c) | 66% | 108% | |
Net assets at end of year (in 000’s) | $ 61,183 | $ 51,059 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | June 28, 2019^ through April 30, | ||
Class R6 | 2021 | 2020 | |
Net asset value at beginning of year | $ 9.65 | $ 10.00 | |
Net investment income (loss) | 0.18(a) | 0.17 | |
Net realized and unrealized gain (loss) on investments | 0.81 | (0.29) | |
Total from investment operations | 0.99 | (0.12) | |
Less distributions: | |||
From net investment income | (0.22) | (0.17) | |
From net realized gain on investments | — | (0.06) | |
Total distributions | (0.22) | (0.23) | |
Net asset value at end of year | $ 10.42 | $ 9.65 | |
Total investment return (b) | 10.28% | (1.32)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.72% | 1.60%†† | |
Net expenses | 0.50% | 0.50%†† | |
Expenses (before waiver/reimbursement) | 0.77% | 0.86%†† | |
Portfolio turnover rate (c) | 66% | 108% | |
Net assets at end of year (in 000’s) | $ 27 | $ 25 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the year. |
(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) | The portfolio turnover rate includes variable rate demand notes. |
24 | MainStay MacKay Intermediate Tax Free Bond Fund |
Class | Commenced Operations |
Class A | June 28, 2019 |
Investor Class | June 28, 2019 |
Class C | June 28, 2019 |
Class I | June 28, 2019 |
Class R6 | June 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. |
• | Level 1—quoted prices in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including the Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
• 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 |
26 | MainStay MacKay Intermediate Tax Free Bond Fund |
28 | MainStay MacKay Intermediate Tax Free Bond Fund |
Asset Derivatives | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized appreciation on futures contracts (a) | $79,741 | $79,741 |
Total Fair Value | $79,741 | $79,741 |
(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) | $(3,882) | $(3,882) |
Total Fair Value | $(3,882) | $(3,882) |
(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 | $(129,225) | $(129,225) |
Total Net Realized Gain (Loss) | $(129,225) | $(129,225) |
Net Change in Unrealized Appreciation (Depreciation) | Interest Rate Contracts Risk | Total |
Futures Contracts | $329,701 | $329,701 |
Total Net Change in Unrealized Appreciation (Depreciation) | $329,701 | $329,701 |
Average Notional Amount | Total |
Futures Contracts Short | $(6,040,003) |
Class | Expense | Waived |
Class A | $ 6 | $— |
Investor Class | 72 | — |
Class C | 264 | — |
Class I | 1,057 | — |
Class R6 | — | — |
Class A | $ 27,071 | 6.0% |
Investor Class | 26,957 | 80.9 |
Class C | 26,868 | 23.8 |
Class I | 54,205,482 | 88.6 |
Class R6 | 27,162 | 99.9 |
30 | MainStay MacKay Intermediate Tax Free Bond Fund |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments | $56,969,765 | $1,749,651 | $(8,662) | $1,740,989 |
Ordinary income | Undistributed Tax Exempt Income | Accumulated Capital and Other Gain (Loss) | Other Temporary Differences | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
$— | $337,401 | $274,628 | $— | $1,740,990 | $2,353,019 |
2021 | 2020 | |
Distributions paid from: | ||
Ordinary Income | $ 21,824 | $ 261,895 |
Long-Term Capital Gains | — | 28,147 |
Exempt Interest Dividends | 1,191,299 | 850,822 |
Total | $1,213,123 | $1,140,864 |
Class A | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 229,055 | $ 2,329,156 |
Shares issued to shareholders in reinvestment of distributions | 564 | 5,791 |
Shares redeemed | (201,121) | (2,050,458) |
Net increase (decrease) in shares outstanding before conversion | 28,498 | 284,489 |
Shares converted into Class A (See Note 1) | 1,000 | 10,324 |
Net increase (decrease) | 29,498 | $ 294,813 |
Period ended April 30, 2020:(a) | ||
Shares sold | 16,092 | $ 158,821(a) |
Shares issued to shareholders in reinvestment of distributions | 90 | 894 |
Shares redeemed | (2,116) | (20,465) |
Net increase (decrease) | 14,066 | $ 139,250 |
Investor Class | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 1,965 | $ 19,817 |
Shares issued to shareholders in reinvestment of distributions | 49 | 498 |
Shares redeemed | (2,288) | (22,791) |
Net increase (decrease) | (274) | $ (2,476) |
Period ended April 30, 2020:(a) | ||
Shares sold | 3,423 | $ 33,850 |
Shares issued to shareholders in reinvestment of distributions | 51 | 515 |
Shares redeemed | (1) | (10) |
Net increase (decrease) | 3,473 | $ 34,355 |
Class C | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 4,501 | $ 45,616 |
Shares issued to shareholders in reinvestment of distributions | 146 | 1,494 |
Shares redeemed | (966) | (10,000) |
Net increase (decrease) in shares outstanding before conversion | 3,681 | 37,110 |
Shares converted from Class C (See Note 1) | (1,001) | (10,324) |
Net increase (decrease) | 2,680 | $ 26,786 |
Period ended April 30, 2020:(a) | ||
Shares sold | 10,042 | $ 102,660 |
Shares issued to shareholders in reinvestment of distributions | 60 | 599 |
Shares redeemed | (1,945) | (20,010) |
Net increase (decrease) | 8,157 | $ 83,249 |
Class I | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 641,141 | $ 6,553,984 |
Shares issued to shareholders in reinvestment of distributions | 117,710 | 1,204,232 |
Shares redeemed | (175,424) | (1,791,037) |
Net increase (decrease) | 583,427 | $ 5,967,179 |
Period ended April 30, 2020:(a) | ||
Shares sold | 5,228,676 | $52,265,799 |
Shares issued to shareholders in reinvestment of distributions | 112,987 | 1,138,073 |
Shares redeemed | (50,949) | (515,421) |
Net increase (decrease) | 5,290,714 | $52,888,451 |
Class R6 | Shares | Amount |
Year ended April 30, 2021: | ||
Shares issued to shareholders in reinvestment of distributions | 55 | $ 557 |
Net increase (decrease) | 55 | $ 557 |
Period ended April 30, 2020:(a) | ||
Shares sold | 2,501 | $ 25,010 |
Shares issued to shareholders in reinvestment of distributions | 56 | 568 |
Shares redeemed | (1) | (10) |
Net increase (decrease) | 2,556 | $ 25,568 |
(a) | The inception date of the Fund was June 28, 2019. |
32 | MainStay MacKay Intermediate Tax Free Bond Fund |
MainStay Funds Trust:
June 24, 2021
34 | MainStay MacKay Intermediate Tax Free Bond Fund |
36 | MainStay MacKay Intermediate Tax Free Bond Fund |
38 | MainStay MacKay Intermediate Tax Free Bond Fund |
40 | MainStay MacKay Intermediate Tax Free Bond Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 76 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017 |
* | This Trustee is considered to be an “interested person” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund, within the meaning of the 1940 Act because of her affiliation with New York Life Insurance Company, New York Life Investment Management LLC, Candriam Belgium S.A., Candriam Luxembourg S.C.A., IndexIQ Advisors LLC, MacKay Shields LLC, NYL Investors LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail above in the column entitled “Principal Occupation(s) During Past Five Years.” |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Market Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, Chair of the Investment Committee since 2018 | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007;MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 76 | MainStay VP Funds Trust: Chairman since 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee;MainStay Funds Trust: Trustee and Audit Committee Financial Expert since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 76 | MainStay VP Funds Trust: Trustee and Audit Committee Financial Expert since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee and Audit Committee Financial Expert since 2011; State Farm Associates Funds Trusts: Trustee since 2005 (4 portfolios) | |
Richard H. Nolan, Jr. 1946 | MainStay Funds: Trustee since 2007;MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 76 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC (since 2018); President, Fidelity Management & Research Company (2009 to 2014); Founder, President and Chief Executive Officer, Geode Capital Management, LLC (2001 to 2009) | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI Inc.: Director since 2017 |
42 | MainStay MacKay Intermediate Tax Free Bond Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994;MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 76 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 |
** | Includes prior service as a Director/Trustee of certain predecessor entities to MainStay Funds Trust. |
*** | Includes prior service as a Director of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds and MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers since 2017 and Senior Managing Director since 2018, NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017**; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2007**; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2010** | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2005** | ||
Yi-Chia Kuo 1981 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2020 | Chief Compliance Officer, Index IQ Trust, Index IQ ETF Trust and Index IQ Active ETF Trust since 2020; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2020; Director and Associate General Counsel, New York Life Insurance Company (2015 to 2019) |
* | The officers listed above are considered to be “interested persons” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund within the meaning of the 1940 Act because of their affiliation with the MainStay Group of Funds, New York Life Insurance Company and/or its affiliates, including New York Life Investment Management LLC, NYLIM Service Company LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail in the column captioned “Principal Occupation(s) During Past Five Years.” Officers are elected annually by the Board. |
** | Includes prior service as an Officer of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
44 | MainStay MacKay Intermediate Tax Free Bond Fund |
1.
2. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
3. | An affiliate of New York Life Investment Management LLC. |
1859291MS071-21 | MSITFB11-06/21 |
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 |
President
Average Annual Total Returns for the Year-Ended April 30, 20211 | |||||||
Class | Sales Charge | Inception Date | One Year or Since Inception | Five Years | Ten Years | Gross Expense Ratio2 | |
Class A Shares3 | Maximum 1% Initial Sales Charge | With sales charges | 1/2/2004 | 1.82% | 1.14% | 0.70% | 0.70% |
Excluding sales charges | 2.85 | 1.35 | 1.01 | 0.70 | |||
Class A2 Shares | Maximum 2% Initial Sales Charge | With sales charges | 9/30/2020 | -1.12 | N/A | N/A | 0.70 |
Excluding sales charges | 0.90 | N/A | N/A | 0.70 | |||
Investor Class Shares4, 5 | Maximum .5% Initial Sales Charge | With sales charges | 2/28/2008 | 1.61 | 0.75 | 0.33 | 1.28 |
Excluding sales charges | 2.64 | 0.95 | 0.63 | 1.28 | |||
Class I Shares | No Sales Charge | 1/2/1991 | 3.12 | 1.63 | 1.28 | 0.45 |
1. | Effective June 1, 2015, the Fund changed, among other things, its investment objective and principal investment strategies. Effective May 22, 2018, the Fund made further changes to, among other things, its principal investment strategies. Effective February 28, 2019, the Fund further changed its investment objective. The performance information shown in this report reflects the Fund’s prior investment objectives and principal investment strategies, as applicable. |
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. | The maximum initial sales charge prior to June 1, 2015 was 3.00%. |
4. | Prior to June 1, 2015, the maximum initial sales charge for Investor Class shares was 3.0%, which is reflected in the average annual total return figures shown. |
5. | Prior to June 30, 2020, the maximum initial sales charge for Investor Class shares was 1.0%, which is reflected in the average annual total return figures shown. |
Benchmark Performance | One Year | Five Years | Ten Years |
Bloomberg Barclays 3-Year Municipal Bond Index1 | 3.60% | 1.87% | 1.81% |
Morningstar Muni National Short Category Average2 | 3.50 | 1.52 | 1.48 |
1. | The Bloomberg Barclays 3-Year Municipal Bond Index is the Fund’s primary broad-based securities-market index for comparison purposes. The Bloomberg Barclays 3-Year Municipal Bond Index is considered representative of the broad-based market for investment-grade, tax-exempt bonds with a maturity range of 2-4 years. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly into an index. |
2. | The Morningstar Muni National Short Category Average is representative of funds that invest in bonds issued by state and local governments to fund public projects. The income from these bonds is generally free from federal taxes and/or from state taxes in the issuing state. To lower risk, some of these portfolios spread their assets across many states and sectors. Other portfolios buy bonds from only one state in order to get the state-tax benefit. These portfolios have durations of less than 4.5 years. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay MacKay Short Term Municipal Fund |
Share Class | Beginning Account Value 11/1/20 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/21 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/21 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,008.50 | $3.24 | $1,021.57 | $3.26 | 0.65% |
Class A2 Shares | $1,000.00 | $1,009.50 | $3.29 | $1,021.52 | $3.31 | 0.66% |
Investor Class Shares | $1,000.00 | $1,007.10 | $4.88 | $1,019.94 | $4.91 | 0.98% |
Class I Shares | $1,000.00 | $1,009.80 | $1.99 | $1,022.81 | $2.01 | 0.40% |
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. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
1. | Metropolitan Transportation Authority, 0.557%-5.25%, due 5/15/21–11/1/32 |
2. | State of Illinois, 4.00%-6.20%, due 5/1/21–11/1/26 |
3. | Michigan Finance Authority, 2.326%-5.00%, due 8/20/21–6/1/30 |
4. | Ohio Air Quality Development Authority, 2.10%-2.50%, due 7/1/28–11/1/42 |
5. | New Jersey Transportation Trust Fund Authority, (zero coupon)-5.50%, due 6/15/21–6/15/34 |
6. | New Jersey Economic Development Authority, (zero coupon)-5.50%, due 6/15/21–11/1/29 |
7. | State of Texas, 4.00%-5.25%, due 8/1/21–4/1/32 |
8. | Texas Municipal Gas Acquisition & Supply Corp. III, 5.00%, due 12/15/22–12/15/27 |
9. | Southeast Energy Authority, 4.00%, due 10/1/26–11/1/51 |
10. | New York Transportation Development Corp., 5.00%, due 1/1/22–12/1/25 |
8 | MainStay MacKay Short Term Municipal Fund |
1. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns. |
2. | An obligation rated ‘AAA’ has the highest rating assigned by Standard & Poor’s (“S&P”), and in the opinion of S&P, the obligor’s capacity to meet its financial commitment on the obligation is extremely strong. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
3. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
4. | Modified duration is inversely related to the approximate percentage change in price for a given change in yield. Duration to worst is the duration of a bond computed using the bond’s nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. |
5. | An obligation rated ‘A’ by S&P is deemed by S&P to be somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. In the opinion of S&P, however, the obligor's capacity to meet its financial commitment on the obligation is still strong. An obligation rated ‘BBB’ by S&P is deemed by S&P to exhibit adequate protection parameters. In the opinion of S&P, however, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation. An obligation rated ‘BB’ by S&P is deemed by S&P to be less vulnerable to nonpayment than other speculative issues. In the opinion of S&P, however, the obligor faces major ongoing uncertainties or exposure to adverse business, financial or economic conditions which could lead to the obligor’s inadequate capacity to meet its financial commitment on the obligation. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
10 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Municipal Bonds 96.6% | ||
Long-Term Municipal Bonds 82.8% | ||
Alabama 2.8% | ||
Alabama Community College System, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 6/1/23 | $ 245,000 | $ 257,924 |
Insured: BAM | ||
3.00%, due 6/1/24 | 100,000 | 107,528 |
Alabama Federal Aid Highway Finance Authority, Revenue Bonds | ||
5.00%, due 9/1/21 | 1,200,000 | 1,218,981 |
Baldwin County Board of Education, Revenue Bonds | ||
5.00%, due 6/1/22 | 105,000 | 110,526 |
Birmingham Airport Authority, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/23 | 125,000 | 137,829 |
Insured: BAM | ||
5.00%, due 7/1/24 | 625,000 | 715,800 |
Black Belt Energy Gas District, Revenue Bonds | ||
Series A | ||
4.00%, due 8/1/47 (a) | 2,000,000 | 2,078,862 |
Black Belt Energy Gas District, Project No. 4, Revenue Bonds | ||
Series A-1 | ||
4.00%, due 12/1/49 (a) | 500,000 | 571,236 |
City of Birmingham AL, Prerefunded, Unlimited General Obligation | ||
Series A | ||
5.00%, due 3/1/27 | 120,000 | 130,464 |
City of Birmingham AL, Unrefunded, Unlimited General Obligation | ||
Series A | ||
5.00%, due 3/1/27 | 30,000 | 32,599 |
City of Phenix City AL, Water & Sewer, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 8/15/22 | 500,000 | 515,347 |
Coosa Valley Water Supply District, Inc., Revenue Bonds | ||
3.00%, due 10/1/22 | 100,000 | 103,619 |
4.00%, due 10/1/24 | 200,000 | 223,990 |
4.00%, due 10/1/25 | 150,000 | 172,030 |
4.00%, due 10/1/26 | 200,000 | 235,494 |
Principal Amount | Value | |
Alabama (continued) | ||
County of Dallas AL, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
(zero coupon), due 5/1/22 | $ 270,000 | $ 267,925 |
Series A, Insured: AGM | ||
(zero coupon), due 5/1/23 | 410,000 | 402,761 |
Series B, Insured: AGM | ||
(zero coupon), due 5/1/24 | 300,000 | 290,674 |
Series A, Insured: AGM | ||
(zero coupon), due 5/1/25 | 270,000 | 256,783 |
County of Lowndes AL, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
2.00%, due 2/1/22 | 300,000 | 303,595 |
Series A, Insured: AGM | ||
4.00%, due 2/1/25 | 540,000 | 602,283 |
Greenville Waterworks & Sewer Board, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 3/1/27 | 205,000 | 240,516 |
Homewood Educational Building Authority, Samford University, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 12/1/41 | 4,285,000 | 4,608,268 |
Lower Alabama Gas District (The), Gas Project, Project No. 2, Revenue Bonds | ||
4.00%, due 12/1/21 | 200,000 | 204,260 |
4.00%, due 12/1/22 | 350,000 | 370,099 |
4.00%, due 12/1/23 | 750,000 | 818,407 |
Lower Alabama Gas District (The), Revenue Bonds | ||
4.00%, due 12/1/50 | 10,430,000 | 11,939,384 |
Montgomery County Public Facilities Authority, Warrants County Facilities Project, Revenue Bonds | ||
5.00%, due 3/1/25 | 270,000 | 305,387 |
Prichard Water Works & Sewer Board, Revenue Bonds | ||
3.00%, due 11/1/21 | 270,000 | 272,830 |
5.00%, due 11/1/22 | 415,000 | 439,785 |
Southeast Alabama Gas Supply District, Project No. 1, Revenue Bonds | ||
Series A | ||
5.00%, due 4/1/24 | 1,500,000 | 1,697,374 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Alabama (continued) | ||
Southeast Alabama Gas Supply District (The), Project No. 2, Revenue Bonds | ||
Series A | ||
4.00%, due 6/1/22 | $ 315,000 | $ 327,595 |
Series A | ||
4.00%, due 6/1/23 | 255,000 | 274,263 |
Southeast Energy Authority, A Cooperative District, Project No. 1, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/26 | 1,400,000 | 1,627,410 |
Series A | ||
4.00%, due 10/1/27 | 2,975,000 | 3,503,282 |
Series A | ||
4.00%, due 11/1/51 | 14,500,000 | 17,227,144 |
Troy University, Revenue Bonds | ||
Series A, Insured: BAM | ||
4.00%, due 11/1/21 | 2,000,000 | 2,037,029 |
University of West Alabama, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 1/1/22 | 150,000 | 153,536 |
Insured: AGM | ||
4.00%, due 1/1/23 | 125,000 | 132,344 |
Insured: AGM | ||
4.00%, due 1/1/24 | 100,000 | 108,950 |
Insured: AGM | ||
4.00%, due 1/1/25 | 150,000 | 167,499 |
Insured: AGM | ||
5.00%, due 1/1/26 | 180,000 | 213,361 |
55,404,973 | ||
Alaska 0.1% | ||
Alaska Industrial Development & Export Authority, Tanana Chiefs Conference Project, Revenue Bonds | ||
5.00%, due 10/1/22 | 550,000 | 585,574 |
5.00%, due 10/1/23 | 585,000 | 647,782 |
1,233,356 | ||
Arizona 0.1% | ||
City of Phoenix, Downtown Phoenix Student Housing LLC, Revenue Bonds | ||
5.00%, due 7/1/23 | 50,000 | 53,813 |
Principal Amount | Value | |
Arizona (continued) | ||
Maricopa County Elementary School District No. 8 Osborn, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 7/1/21 | $ 470,000 | $ 473,660 |
Maricopa County Industrial Development Authority, Paradise Schools Project, Revenue Bonds | ||
Insured: School District Credit Program | ||
4.00%, due 7/1/22 | 150,000 | 156,251 |
Maricopa County Unified School District No. 090 Saddle Mountain, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/22 | 400,000 | 421,769 |
Northern Arizona University, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 8/1/23 | 1,000,000 | 1,100,491 |
Salt River Project Agricultural Improvement & Power District, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/22 | 110,000 | 113,078 |
Salt River Project Agricultural Improvement & Power District, Salt River Project, Electric System, Revenue Bonds | ||
5.00%, due 1/1/26 | 125,000 | 151,218 |
Sedona Wastewater Municipal Property Corp., Capital Appreciation, Revenue Bonds | ||
Insured: NATL | ||
(zero coupon), due 7/1/24 | 500,000 | 485,425 |
2,955,705 | ||
Arkansas 0.2% | ||
Alma School District No. 30, Limited General Obligation | ||
Series A, Insured: State Aid Withholding | ||
5.00%, due 8/1/22 | 430,000 | 455,860 |
Series A, Insured: State Aid Withholding | ||
5.00%, due 8/1/23 | 450,000 | 497,998 |
12 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Arkansas (continued) | ||
Alma School District No. 30, Limited General Obligation (continued) | ||
Series A, Insured: State Aid Withholding | ||
5.00%, due 8/1/25 | $ 500,000 | $ 595,493 |
Arkansas Development Finance Authority, Revolving Loan Fund, Revenue Bonds | ||
Series C | ||
5.00%, due 6/1/21 | 325,000 | 326,199 |
City of Fort Smith AR, Water & Sewer, Revenue Bonds | ||
Insured: BAM | ||
2.00%, due 10/1/22 | 300,000 | 307,205 |
City of Fort Smith AR, Sales & Use Tax, Revenue Bonds | ||
4.00%, due 5/1/22 | 835,000 | 866,164 |
City of Little Rock AR, Water Reclamation System, Revenue Bonds | ||
4.00%, due 8/1/42 | 225,000 | 235,886 |
County of St Francis AR, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 8/1/24 | 915,000 | 1,011,943 |
4,296,748 | ||
California 5.8% | ||
ABC Unified School District, Unlimited General Obligation | ||
Series C, Insured: NATL | ||
(zero coupon), due 8/1/25 | 1,315,000 | 1,277,182 |
Alameda Unified School District-Alameda County, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 8/1/26 | 330,000 | 313,617 |
Alta Loma School District, Unlimited General Obligation | ||
Series A, Insured: NATL | ||
(zero coupon), due 8/1/21 | 1,750,000 | 1,749,285 |
Series B, Insured: NATL | ||
(zero coupon), due 8/1/25 | 200,000 | 193,021 |
Principal Amount | Value | |
California (continued) | ||
Anaheim Public Financing Authority, Capital Appreciation, Public Improvement Project, Revenue Bonds | ||
Insured: AGM | ||
(zero coupon), due 9/1/21 | $ 300,000 | $ 299,689 |
Antelope Valley Union High School District, Capital Appreciation, Election 2002, Unlimited General Obligation | ||
Series C, Insured: NATL | ||
(zero coupon), due 8/1/25 | 300,000 | 289,043 |
California County Tobacco Securitization Agency, Tobacco Settlement, Revenue Bonds, Senior Lien | ||
Series A | ||
3.00%, due 6/1/21 | 750,000 | 751,608 |
Series A | ||
4.00%, due 6/1/22 | 350,000 | 364,396 |
Series A | ||
5.00%, due 6/1/24 | 450,000 | 513,391 |
California Educational Facilities Authority, Loyola Marymount University, Revenue Bonds | ||
Series A, Insured: NATL | ||
(zero coupon), due 10/1/22 | 3,000,000 | 2,980,868 |
California Educational Facilities Authority, Art Center College of Design, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/21 | 290,000 | 297,517 |
Series A | ||
5.00%, due 12/1/22 | 200,000 | 214,134 |
California Health Facilities Financing Authority, Lundquist Institute For Biomedical Innovation, Revenue Bonds | ||
4.00%, due 9/1/21 | 275,000 | 277,567 |
4.00%, due 9/1/22 | 300,000 | 311,328 |
4.00%, due 9/1/23 | 310,000 | 332,925 |
California Health Facilities Financing Authority, Kaiser Permanente, Revenue Bonds | ||
Series B | ||
5.00%, due 11/1/29 (a) | 3,485,000 | 3,736,748 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
California Municipal Finance Authority, NCROC Paradise Valley Estates Project, Revenue Bonds | ||
Insured: California Mortgage Insurance | ||
2.00%, due 7/1/24 | $ 500,000 | $ 500,349 |
California Municipal Finance Authority, California Lutheran University, Revenue Bonds | ||
5.00%, due 10/1/21 | 250,000 | 254,447 |
California Municipal Finance Authority, CHF-Davis I LLC - West Village Student Housing Project, Revenue Bonds | ||
5.00%, due 5/15/23 | 1,520,000 | 1,649,934 |
5.00%, due 5/15/24 | 1,200,000 | 1,347,527 |
California Municipal Finance Authority, LINXS APM Project, Revenue Bonds, Senior Lien (b) | ||
5.00%, due 12/31/23 | 1,300,000 | 1,456,454 |
5.00%, due 6/30/25 | 685,000 | 806,662 |
California School Finance Authority, Kipp SoCal Public Schools Project, Revenue Bonds (c) | ||
Series A | ||
5.00%, due 7/1/24 | 100,000 | 113,344 |
Series A | ||
5.00%, due 7/1/25 | 105,000 | 122,625 |
California State Public Works Board, Various Capital Projects, Revenue Bonds | ||
Series B | ||
5.00%, due 5/1/24 | 230,000 | 262,554 |
California State Public Works Board, Department of State Hospitals, Revenue Bonds | ||
5.00%, due 6/1/24 | 200,000 | 219,898 |
California Statewide Communities Development Authority, Methodist Hospital of Southern California, Revenue Bonds | ||
5.00%, due 1/1/22 | 500,000 | 514,160 |
Central Coast Water Authority, State Water Project Regounal Facilities, Revenue Bonds | ||
5.00%, due 10/1/21 | 100,000 | 101,975 |
Principal Amount | Value | |
California (continued) | ||
Chino Valley Unified School District, Election 2016, Limited General Obligation | ||
Series B | ||
5.00%, due 8/1/21 | $ 125,000 | $ 126,492 |
Chula Vista Elementary School District, Revenue Bonds | ||
(zero coupon), due 8/1/23 | 5,670,000 | 5,624,866 |
City of Fresno CA, Airport, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/23 (b) | 690,000 | 752,348 |
City of Long Beach CA, Alamitos Bay Marina Project, Revenue Bonds | ||
5.00%, due 5/15/21 | 200,000 | 200,268 |
City of Los Angeles, Department of Airports, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 5/15/21 | 1,065,000 | 1,066,567 |
Series D | ||
5.00%, due 5/15/22 | 1,000,000 | 1,049,604 |
5.00%, due 5/15/22 | 1,180,000 | 1,238,532 |
5.00%, due 5/15/24 | 500,000 | 569,972 |
City of Montebello CA, Revenue Bonds | ||
Insured: AGM | ||
2.173%, due 6/1/23 | 2,000,000 | 2,055,194 |
City of Oxnard CA, Water System, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 6/1/21 | 280,000 | 280,990 |
City of Palm Springs CA, Airport Passenger Facility Charge, Revenue Bonds (b) | ||
5.00%, due 6/1/22 | 400,000 | 420,206 |
Insured: BAM | ||
5.00%, due 6/1/25 | 925,000 | 1,089,389 |
Insured: BAM | ||
5.00%, due 6/1/28 | 655,000 | 760,766 |
City of Sacramento CA, Transient Occupancy Tax, Revenue Bonds | ||
5.00%, due 6/1/22 | 275,000 | 284,593 |
5.00%, due 6/1/23 | 325,000 | 352,869 |
5.00%, due 6/1/26 | 1,375,000 | 1,639,498 |
City of Sacramento CA, Airport System, Revenue Bonds | ||
Series E | ||
5.00%, due 7/1/25 | 260,000 | 309,155 |
14 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Clovis Unified School District, Capital Appreciation, Election 2004, Unlimited General Obligation | ||
Series A, Insured: NATL | ||
(zero coupon), due 8/1/24 | $ 280,000 | $ 275,779 |
Clovis Unified School District, Election 2012, Unlimited General Obligation | ||
Series A | ||
(zero coupon), due 8/1/31 | 220,000 | 136,520 |
Coast Community College District, Unlimited General Obligation | ||
(zero coupon), due 8/1/36 | 200,000 | 120,898 |
Contra Costa County Schools Pooled Notes, Revenue Notes | ||
Series A | ||
2.00%, due 12/1/21 | 4,500,000 | 4,542,028 |
El Camino Healthcare District, Capital Appreciation, Unlimited General Obligation | ||
Insured: NATL | ||
(zero coupon), due 8/1/26 | 380,000 | 361,323 |
Empire Union School District, Community Facilities District No. 1987-1, Special Tax | ||
Insured: AMBAC | ||
(zero coupon), due 10/1/22 | 155,000 | 153,580 |
Fontana Redevelopment Agency | ||
Series A | ||
5.00%, due 10/1/21 | 120,000 | 122,390 |
Fresno Unified School District, Election 2010, Unlimited General Obligation | ||
Series B | ||
(zero coupon), due 8/1/32 | 90,000 | 42,709 |
Fullerton Redevelopment Agency | ||
Series A, Insured: BAM | ||
4.00%, due 9/1/24 | 125,000 | 139,323 |
Golden West Schools Financing Authority, Placentia-Yorba Linda Unifies School, Revenue Bonds | ||
Insured: AMBAC | ||
5.50%, due 8/1/21 | 100,000 | 101,307 |
Golden West Schools Financing Authority, Revenue Bonds | ||
Series A, Insured: NATL | ||
5.80%, due 2/1/23 | 115,000 | 125,851 |
Principal Amount | Value | |
California (continued) | ||
Hayward Unified School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/21 | $ 2,010,000 | $ 2,033,939 |
Independent Cities Finance Authority, Sales Tax, Revenue Bonds (c) | ||
Insured: AGM | ||
4.00%, due 6/1/22 | 150,000 | 155,555 |
Insured: AGM | ||
4.00%, due 6/1/24 | 150,000 | 163,742 |
Insured: AGM | ||
4.00%, due 6/1/25 | 510,000 | 567,255 |
Insured: AGM | ||
4.00%, due 6/1/26 | 175,000 | 197,095 |
Irvine Unified School District, School Facilities Improvement, Unlimited General Obligation | ||
Series A | ||
5.00%, due 9/1/21 | 100,000 | 101,605 |
Kern Community College District, Facilities Improvement District No. 1, Unlimited General Obligation | ||
(zero coupon), due 8/1/23 | 6,000,000 | 5,952,239 |
La Mirada Redevelopment Agency, La Mirada Merged Project | ||
Series A, Insured: NATL | ||
(zero coupon), due 8/15/25 | 1,000,000 | 954,794 |
Lakeside Union School District, Election 2008, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 6/1/43 | 300,000 | 84,322 |
Lincoln Dissolved Redevelopment Agency | ||
Series A, Insured: BAM | ||
4.00%, due 9/15/21 | 200,000 | 202,703 |
Los Angeles Department of Water & Power System, Revenue Bonds | ||
Series D | ||
5.00%, due 7/1/22 | 100,000 | 105,695 |
Los Angeles Unified School District, Unlimited General Obligation | ||
Series C | ||
5.00%, due 7/1/23 | 2,000,000 | 2,209,855 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Madera Unified School District, Capital Appreciation, Election 2002, Unlimited General Obligation | ||
Insured: NATL | ||
(zero coupon), due 8/1/25 | $ 250,000 | $ 241,582 |
Manteca Unified School District, Capital Appreciation, Election 2004, Unlimited General Obligation | ||
Insured: NATL | ||
(zero coupon), due 8/1/25 | 325,000 | 312,205 |
Marysville Joint Unified School District, Energy Effeciency Projects, Green Bond, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 6/1/23 | 470,000 | 506,319 |
Insured: BAM | ||
4.00%, due 6/1/24 | 400,000 | 443,852 |
Insured: BAM | ||
4.00%, due 6/1/25 | 455,000 | 518,552 |
Insured: BAM | ||
4.00%, due 6/1/26 | 475,000 | 553,974 |
McKinleyville Union School District, Unlimited General Obligation | ||
Insured: BAM | ||
(zero coupon), due 8/1/42 | 100,000 | 32,783 |
Merced Irrigation District Financing Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/22 | 250,000 | 267,346 |
Merced Union High School District, Unlimited General Obligation | ||
Insured: AGM | ||
(zero coupon), due 8/1/41 | 310,000 | 131,386 |
Merced Union High School District, Election 2008, Unlimited General Obligation | ||
Series C | ||
(zero coupon), due 8/1/51 | 5,020,000 | 564,092 |
Mesa Union School District, Unlimited General Obligation | ||
5.00%, due 8/1/23 | 100,000 | 101,193 |
Millbrae School District, Unlimited General Obligation | ||
Series B-2 | ||
5.00%, due 7/1/29 | 100,000 | 100,782 |
Principal Amount | Value | |
California (continued) | ||
Mount Diablo Unified School District, Capital Appreciation, Election 2010, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 8/1/21 | $ 110,000 | $ 109,947 |
Series A, Insured: AGM | ||
(zero coupon), due 8/1/25 (d) | 445,000 | 488,061 |
Norman Y Mineta San Jose International Airport SJC, Revenue Bonds | ||
Series A | ||
5.00%, due 3/1/24 (b) | 250,000 | 282,388 |
North Orange County Community College District, Capital, Appreciation, Election 2002, Unlimited General Obligation | ||
Insured: NATL | ||
(zero coupon), due 8/1/22 | 200,000 | 199,433 |
Oakland Unified School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/24 | 250,000 | 286,833 |
Ontario International Airport Authority, Revenue Bonds | ||
Insured: AGM | ||
2.634%, due 5/15/23 | 1,000,000 | 1,043,429 |
Oxnard Financing Authority, Revenue Bonds | ||
5.00%, due 6/1/21 | 175,000 | 175,632 |
Pacifica School District, Unlimited General Obligation | ||
Series V, Insured: NATL | ||
(zero coupon), due 8/1/25 | 1,165,000 | 1,124,347 |
Palmdale Elementary School District, Capital Appreciation, School Building Project, Certificate of Participation | ||
Insured: AGM | ||
(zero coupon), due 10/1/21 | 135,000 | 134,769 |
Peninsula Corridor Joint Powers Board, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/22 | 550,000 | 585,574 |
Series A | ||
5.00%, due 10/1/23 | 585,000 | 648,378 |
16 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Pittsburg Successor Agency Redevelopment Agency | ||
Series A, Insured: AGM | ||
5.00%, due 9/1/24 | $ 1,055,000 | $ 1,211,750 |
Pittsburg Unified School District Financing Authority, Capital Appreciation, Revenue Bonds | ||
Insured: AGM | ||
(zero coupon), due 9/1/37 | 100,000 | 29,934 |
Port of Oakland, Revenue Bonds, Senior Lien | ||
Series P | ||
5.00%, due 5/1/24 (b) | 625,000 | 654,834 |
Port of Oakland, Revenue Bonds | ||
Series O | ||
5.00%, due 5/1/28 (b) | 2,350,000 | 2,350,000 |
Poway Unified School District Public Financing Authority, Special Tax, Community Facilities District No. 2 | ||
Insured: AGM | ||
5.00%, due 9/1/21 | 100,000 | 101,598 |
Rialto Redevelopment Agency | ||
Series A, Insured: BAM | ||
4.00%, due 9/1/25 | 250,000 | 279,446 |
Ripon Redevelopment Agency | ||
Insured: BAM | ||
3.00%, due 11/1/25 | 110,000 | 121,184 |
Riverside County Asset Leasing Corp., Riverside County Hospital Project, Revenue Bonds | ||
Insured: NATL | ||
(zero coupon), due 6/1/25 | 2,205,000 | 2,119,694 |
Riverside County Public Financing Authority, Project Area No. 1 Desert Communities & Interstate 215 Corridor Project | ||
Insured: BAM | ||
5.00%, due 10/1/25 | 500,000 | 595,143 |
Riverside Unified School District Financing Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/21 | 100,000 | 101,538 |
Principal Amount | Value | |
California (continued) | ||
Rocklin Unified School District Community Facilities District, Capital Appreciation, Special Tax | ||
Insured: AMBAC | ||
(zero coupon), due 9/1/21 | $ 95,000 | $ 94,939 |
Sacramento City Financing Authority, Capital Appreciation | ||
Insured: NATL | ||
(zero coupon), due 12/1/21 | 4,170,000 | 4,163,315 |
Insured: NATL | ||
(zero coupon), due 12/1/23 | 2,000,000 | 1,976,267 |
Sacramento City Schools Joint Powers Financing Authority, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 3/1/23 | 515,000 | 558,623 |
Sacramento City Unified School District, Unlimited General Obligation | ||
Series E | ||
5.00%, due 8/1/23 | 300,000 | 329,793 |
San Diego Unified School District, Election 2008, Unlimited General Obligation | ||
Series G | ||
(zero coupon), due 7/1/34 | 425,000 | 241,090 |
San Francisco City & County Airport Comm-San Francisco International Airport, Airpport Special Facilities, SFO Fuel Co. LLC, Revenue Bonds | ||
5.00%, due 1/1/23 (b) | 1,100,000 | 1,186,411 |
San Francisco City & County Airport Comm-San Francisco International Airport, Revenue Bonds, Second Series | ||
Series D | ||
5.00%, due 5/1/24 | 2,645,000 | 2,645,000 |
Series D | ||
5.00%, due 5/1/25 (b) | 210,000 | 247,107 |
San Francisco City & County Public Utilities Commission Power, Revenue Bonds | ||
Series B | ||
4.00%, due 11/1/21 | 100,000 | 101,927 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
San Juan Unified School District, Capital Appreciation, Unlimited General Obligation | ||
Insured: NATL | ||
(zero coupon), due 8/1/21 | $ 75,000 | $ 74,969 |
Insured: AGM | ||
(zero coupon), due 8/1/23 | 2,540,000 | 2,524,297 |
San Marcos Unified School District, Election 2010, Unlimited General Obligation | ||
Series C | ||
(zero coupon), due 8/1/23 | 370,000 | 366,808 |
San Mateo County Community College District, Capital Appreciation, Election 2005, Unlimited General Obligation | ||
Series A, Insured: NATL | ||
(zero coupon), due 9/1/26 | 1,100,000 | 1,059,020 |
San Ysidro School District, Capital Appreciation, Election 1997, Unlimited General Obligation | ||
Series D, Insured: NATL | ||
(zero coupon), due 8/1/22 | 300,000 | 297,929 |
Series D, Insured: NATL | ||
(zero coupon), due 8/1/25 | 400,000 | 384,415 |
San Ysidro School District, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
3.00%, due 8/1/22 | 800,000 | 826,545 |
Insured: AGM | ||
5.00%, due 8/1/22 | 1,320,000 | 1,396,485 |
Sanger Unified School District, Capital Appreciation, Election 2006, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 8/1/28 | 290,000 | 262,209 |
Santa Cruz City Elementary School District, Capital Appreciation, Election 1998, Unlimited General Obligation | ||
Insured: AGM | ||
(zero coupon), due 2/1/23 | 100,000 | 99,070 |
Santa Monica Community College District, Election 2008, Unlimited General Obligation | ||
Series B | ||
(zero coupon), due 8/1/35 | 345,000 | 207,418 |
Principal Amount | Value | |
California (continued) | ||
South Bay Union School District, Unlimited General Obligation | ||
(zero coupon), due 8/1/22 | $ 1,000,000 | $ 994,434 |
Southern California Public Power Authority, Project No. 1, Revenue Bonds | ||
Series A | ||
5.25%, due 11/1/21 | 1,410,000 | 1,445,193 |
Southwestern Community College District, Capital Appreciation, Election 2000, Unlimited General Obligation | ||
Insured: NATL | ||
(zero coupon), due 8/1/24 | 115,000 | 113,230 |
State of California, Unlimited General Obligation | ||
Series CT | ||
0.35%, due 12/1/22 | 1,990,000 | 1,998,740 |
5.00%, due 9/1/21 | 2,775,000 | 2,819,447 |
5.00%, due 3/1/25 | 270,000 | 318,668 |
5.25%, due 9/1/23 | 1,740,000 | 1,769,341 |
State of California, Various Purpose, Unlimited General Obligation | ||
4.00%, due 11/1/21 | 100,000 | 101,932 |
Sweetwater Union High School District Public Financing Authority, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 9/1/21 | 1,000,000 | 1,015,119 |
Tobacco Securitization Authority of Northern California, Sacramento County Tobacco Securitization Corp., Revenue Bonds, Senior Lien | ||
0.45%, due 6/1/30 | 500,000 | 497,486 |
Transbay Joint Powers Authority, Green Bond | ||
2.05%, due 10/1/21 | 1,000,000 | 1,007,850 |
2.17%, due 10/1/22 | 750,000 | 770,667 |
Turlock Public Financing Authority, Water, Revenue Bonds | ||
4.00%, due 3/1/27 | 6,500,000 | 6,581,339 |
Ukiah Unified School District, Capital Appreciation, Unlimited General Obligation | ||
Insured: NATL | ||
(zero coupon), due 8/1/21 | 875,000 | 874,199 |
18 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Upper Lake Union High School District, Unlimited General Obligation | ||
Series A, Insured: NATL | ||
(zero coupon), due 8/1/23 | $ 255,000 | $ 252,066 |
Vacaville Unified School District, Unlimited General Obligation | ||
Series D | ||
4.00%, due 8/1/25 | 125,000 | 144,483 |
Vallejo City Unified School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/21 | 520,000 | 526,077 |
Victor Elementary School District, Unlimited General Obligation | ||
Series B, Insured: NATL | ||
(zero coupon), due 8/1/27 | 350,000 | 325,232 |
Victor Valley Community College District, Unlimited General Obligation | ||
Series D | ||
4.00%, due 8/1/21 | 100,000 | 100,944 |
Vista Unified School District, Capital Appreciation, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 8/1/26 | 325,000 | 309,026 |
Windsor Unified School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/21 | 100,000 | 101,193 |
Yuba City Unified School District, Capital Appreciation, Unlimited General Obligation | ||
Insured: NATL | ||
(zero coupon), due 3/1/25 | 1,300,000 | 1,247,015 |
116,699,360 | ||
Colorado 2.0% | ||
Arapahoe County School District No. 5 Cherry Creek, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 12/15/25 | 8,230,000 | 9,954,471 |
Principal Amount | Value | |
Colorado (continued) | ||
Arkansas River Power Authority, Revenue Bonds | ||
Series B | ||
4.082%, due 10/1/22 | $ 1,880,000 | $ 1,931,165 |
City & County of Denver CO, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/22 (b) | 720,000 | 771,176 |
Series A | ||
5.00%, due 11/15/23 | 520,000 | 583,102 |
Series B1 | ||
5.00%, due 11/15/23 (b) | 940,000 | 1,049,501 |
Series B1 | ||
5.00%, due 11/15/24 (b) | 6,275,000 | 7,258,377 |
Series A | ||
5.25%, due 11/15/22 (b) | 2,815,000 | 2,891,415 |
Colorado Educational & Cultural Facilities Authority, Johnson & Wales University Project, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/23 | 315,000 | 336,161 |
Series B | ||
5.00%, due 4/1/22 | 770,000 | 801,864 |
Series B | ||
5.00%, due 4/1/24 | 500,000 | 540,569 |
Colorado School of Mines, Capital Appreciation, Revenue Bonds | ||
Insured: NATL | ||
(zero coupon), due 12/1/25 | 100,000 | 95,904 |
Copperleaf Metropolitan District No. 2, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 300,000 | 328,336 |
Insured: BAM | ||
4.00%, due 12/1/26 | 385,000 | 454,218 |
Crystal Valley Metropolitan District No. 2, Limited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/22 | 100,000 | 107,478 |
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 140,000 | 156,619 |
Series A, Insured: AGM | ||
5.00%, due 12/1/24 | 175,000 | 202,732 |
Series A, Insured: AGM | ||
5.00%, due 12/1/25 | 250,000 | 299,113 |
Series A, Insured: AGM | ||
5.00%, due 12/1/26 | 225,000 | 276,348 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Colorado (continued) | ||
Dawson Ridge Metropolitan District No. 1, Limited General Obligation | ||
Series A | ||
(zero coupon), due 10/1/22 | $ 955,000 | $ 951,913 |
Series B | ||
(zero coupon), due 10/1/22 | 3,385,000 | 3,374,059 |
Erie Commons Metropolitan District No. 2, Limited General Obligation, Senior Lien | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/21 | 100,000 | 102,739 |
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 130,000 | 145,610 |
Erie Highlands Metropolitan District No. 1, Limited General Obligation | ||
Insured: BAM | ||
3.00%, due 12/1/24 | 245,000 | 266,947 |
Flying Horse Metropolitan District No. 2, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/21 | 230,000 | 234,845 |
Series A, Insured: AGM | ||
4.00%, due 12/1/24 | 325,000 | 364,391 |
Series A, Insured: AGM | ||
4.00%, due 12/1/25 | 395,000 | 453,853 |
Morgan County Quality Water District, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 12/1/25 | 100,000 | 114,948 |
Poudre Tech Metropolitan District, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 12/1/21 | 165,000 | 167,308 |
Insured: AGM | ||
3.00%, due 12/1/23 | 400,000 | 424,343 |
Insured: AGM | ||
3.00%, due 12/1/24 | 400,000 | 431,391 |
Insured: AGM | ||
3.00%, due 12/1/25 | 150,000 | 163,550 |
Insured: AGM | ||
3.00%, due 12/1/27 | 170,000 | 187,235 |
Regional Transportation District, Denver Transit Partners Eagle P3 Project, Revenue Bonds | ||
3.00%, due 7/15/23 | 100,000 | 105,381 |
5.00%, due 1/15/24 | 400,000 | 447,081 |
5.00%, due 7/15/24 | 300,000 | 341,287 |
Principal Amount | Value | |
Colorado (continued) | ||
Regional Transportation District, Denver Transit Partners Eagle P3 Project, Revenue Bonds (continued) | ||
5.00%, due 1/15/25 | $ 325,000 | $ 375,201 |
5.00%, due 7/15/25 | 400,000 | 468,942 |
Saddle Rock Metropolitan District, Unlimited General Obligation | ||
Insured: BAM | ||
2.25%, due 12/1/25 | 125,000 | 133,847 |
Insured: BAM | ||
3.00%, due 12/1/22 | 75,000 | 78,276 |
Insured: BAM | ||
3.00%, due 12/1/24 | 175,000 | 190,612 |
Sand Creek Metropolitan District, Limited General Obligation | ||
Series A, Insured: AGM | ||
2.00%, due 12/1/21 | 100,000 | 100,924 |
Series A, Insured: AGM | ||
4.00%, due 12/1/22 | 125,000 | 131,855 |
Series A, Insured: AGM | ||
4.00%, due 12/1/24 | 565,000 | 630,286 |
Triview Metropolitan District, Green Bonds, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 12/1/22 | 210,000 | 225,878 |
Insured: BAM | ||
5.00%, due 12/1/24 | 315,000 | 366,136 |
Insured: BAM | ||
5.00%, due 12/1/25 | 255,000 | 305,734 |
Vauxmont Metropolitan District, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/15/21 | 100,000 | 102,761 |
Insured: AGM | ||
5.00%, due 12/15/22 | 100,000 | 107,229 |
Western State Colorado University, Revenue Bonds | ||
Insured: State Aid Withholding | ||
5.00%, due 5/15/25 | 1,060,000 | 1,247,503 |
40,780,614 | ||
Connecticut 1.6% | ||
Borough of Naugatuck CT, Wastewater System Project, Certificates of Participation, Certificate of Participation | ||
Series A | ||
5.00%, due 6/15/21 | 100,000 | 100,531 |
20 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Connecticut (continued) | ||
City of Bridgeport CT, Unlimited General Obligation | ||
Series A | ||
5.00%, due 6/1/23 | $ 600,000 | $ 653,532 |
Series A | ||
5.00%, due 6/1/24 | 865,000 | 976,014 |
City of Hartford CT, Unlimited General Obligation | ||
Series C, Insured: AGM ST GTD | ||
5.00%, due 7/15/21 | 200,000 | 201,879 |
Series A, Insured: AGM | ||
5.00%, due 4/1/22 | 1,000,000 | 1,043,255 |
Series A, Insured: State Guaranteed | ||
5.00%, due 4/1/23 | 490,000 | 534,479 |
City of New Haven CT, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
2.307%, due 8/1/22 | 700,000 | 713,684 |
Series A | ||
5.25%, due 8/1/25 | 155,000 | 181,590 |
City of West Haven CT, Unlimited General Obligation | ||
Series B | ||
2.00%, due 9/30/21 | 4,800,000 | 4,823,415 |
Insured: BAM | ||
4.00%, due 3/15/23 | 250,000 | 266,453 |
Insured: BAM | ||
4.00%, due 3/15/24 | 380,000 | 416,767 |
Insured: BAM | ||
4.00%, due 3/15/26 | 200,000 | 228,225 |
Connecticut State Higher Education Supplement Loan Authority, Chesla Loan Program, Revenue Bonds | ||
3.00%, due 11/15/25 | 975,000 | 1,015,812 |
5.00%, due 11/15/22 (b) | 425,000 | 454,805 |
5.00%, due 11/15/23 | 200,000 | 222,010 |
5.00%, due 11/15/24 | 765,000 | 874,758 |
Series B | ||
5.00%, due 11/15/24 (b) | 255,000 | 291,586 |
5.00%, due 11/15/25 (b) | 1,000,000 | 1,175,211 |
Greater New Haven Water Pollution Control Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 8/15/22 | 250,000 | 265,372 |
State of Connecticut, Transportation Infrastructure, Special Tax | ||
4.00%, due 5/1/21 | 500,000 | 500,000 |
Principal Amount | Value | |
Connecticut (continued) | ||
State of Connecticut, Transportation Infrastructure, Special Tax (continued) | ||
5.00%, due 5/1/22 | $ 400,000 | $ 419,381 |
5.00%, due 5/1/23 | 675,000 | 740,080 |
State of Connecticut, Unlimited General Obligation | ||
Series C | ||
4.00%, due 6/15/22 | 2,210,000 | 2,305,165 |
Series B | ||
4.00%, due 3/1/24 | 100,000 | 106,948 |
Series C | ||
4.00%, due 6/1/28 | 1,535,000 | 1,856,364 |
Series C | ||
5.00%, due 6/15/21 | 4,865,000 | 4,892,022 |
Series C | ||
5.00%, due 6/15/23 | 1,500,000 | 1,652,923 |
Series D | ||
5.00%, due 11/1/23 | 105,000 | 107,497 |
Series E | ||
5.00%, due 9/15/25 | 425,000 | 509,426 |
State of Connecticut, Special Tax | ||
Series A | ||
5.00%, due 10/1/21 | 370,000 | 377,384 |
Town of Fairfield CT, Unlimited General Obligation | ||
5.00%, due 8/1/25 | 685,000 | 726,474 |
Town of Hamden CT, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 8/15/22 | 300,000 | 318,046 |
Series A | ||
5.00%, due 8/15/25 | 370,000 | 436,569 |
Town of Wethersfield CT, Unlimited General Obligation | ||
3.00%, due 8/15/21 | 200,000 | 201,638 |
Town of Windham CT, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 8/15/26 | 810,000 | 947,921 |
Series A, Insured: BAM | ||
4.00%, due 8/15/27 | 825,000 | 984,466 |
31,521,682 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Delaware 0.1% | ||
Delaware Municipal Electric Corp. (The), Beasley Power Station Project, Revenue Bonds | ||
5.00%, due 7/1/25 | $ 325,000 | $ 385,704 |
5.00%, due 7/1/26 | 375,000 | 457,756 |
Delaware State Economic Development Authority, Newark Charter School, Inc. Project, Revenue Bonds | ||
4.00%, due 9/1/22 | 340,000 | 351,833 |
4.00%, due 9/1/24 | 370,000 | 403,293 |
Delaware State Health Facilities Authority, Bayhealth Medical Center Project, Revenue Bonds | ||
5.00%, due 7/1/22 | 125,000 | 132,104 |
1,730,690 | ||
District of Columbia 0.3% | ||
District of Columbia, Revenue Bonds | ||
Series B | ||
5.00%, due 6/1/21 | 230,000 | 230,831 |
District of Columbia, Children's Hospital Obligated Group, Revenue Bonds | ||
5.00%, due 7/15/21 | 250,000 | 252,349 |
District of Columbia, Income Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/21 | 420,000 | 431,951 |
District of Columbia, KIPP DC Project, Revenue Bonds | ||
5.00%, due 7/1/22 | 200,000 | 208,217 |
District of Columbia, Association of American Medical Colleges, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/23 | 100,000 | 111,732 |
District of Columbia, Gallery Place Project | ||
5.00%, due 6/1/27 | 1,720,000 | 1,726,015 |
Metropolitan Washington Airports Authority, Airport System, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/21 | 150,000 | 152,887 |
Series A | ||
5.00%, due 10/1/25 | 225,000 | 267,814 |
Principal Amount | Value | |
District of Columbia (continued) | ||
Metropolitan Washington Airports Authority, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/24 | $ 200,000 | $ 230,747 |
5.00%, due 10/1/24 | 320,000 | 369,195 |
5.00%, due 10/1/26 | 930,000 | 1,139,945 |
Series A | ||
5.00%, due 10/1/27 | 1,000,000 | 1,148,964 |
Washington Metropolitan Area Transit Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/22 | 450,000 | 474,977 |
6,745,624 | ||
Florida 3.3% | ||
Broward County, Water & Sewer Utility, Revenue Bonds | ||
Series B | ||
5.00%, due 10/1/25 | 630,000 | 757,190 |
Central Florida Expressway Authority, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/22 | 380,000 | 401,138 |
City of Delray Beach FL, Revenue Bonds | ||
5.00%, due 6/1/24 | 100,000 | 114,280 |
City of Gainesville FL, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/22 | 150,000 | 160,253 |
City of Jacksonville FL, Sales Tax, Revenue Bonds | ||
5.00%, due 10/1/21 | 665,000 | 678,076 |
5.00%, due 10/1/27 | 1,285,000 | 1,369,719 |
City of Lake Worth Beach FL, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/25 | 250,000 | 296,355 |
City of Orlando FL, Tourist Development Tax, Revenue Bonds, Senior Lien | ||
Insured: AGM | ||
5.00%, due 11/1/25 | 1,095,000 | 1,292,359 |
City of Palm Bay FL, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/24 | 1,970,000 | 2,260,229 |
Insured: AGM | ||
5.00%, due 7/1/25 | 1,035,000 | 1,228,790 |
22 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Florida (continued) | ||
City of Tampa FL, H Lee Moffitt Cancer Center Project, Revenue Bonds | ||
5.00%, due 7/1/23 | $ 75,000 | $ 82,543 |
5.00%, due 7/1/24 | 300,000 | 342,972 |
5.00%, due 7/1/25 | 425,000 | 502,261 |
City of Tampa FL, Water & Wastewater System, Revenue Bonds | ||
5.00%, due 10/1/25 | 125,000 | 127,510 |
Cityplace Community Development District, Special Assessment | ||
5.00%, due 5/1/21 | 2,945,000 | 2,945,000 |
Clay County School Board, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 7/1/24 | 100,000 | 105,255 |
County of Broward, Airport System, Revenue Bonds | ||
Series P-2 | ||
3.25%, due 10/1/22 | 1,000,000 | 1,043,305 |
Series Q-1 | ||
4.00%, due 10/1/21 | 200,000 | 203,133 |
County of Broward, Port Facilities, Revenue Bonds | ||
Series D | ||
5.00%, due 9/1/21 (b) | 785,000 | 795,566 |
Series C | ||
5.00%, due 9/1/22 | 325,000 | 343,218 |
Series B, Insured: AGM | ||
5.00%, due 9/1/23 (b) | 1,100,000 | 1,115,428 |
Series D | ||
5.00%, due 9/1/23 (b) | 1,000,000 | 1,096,699 |
County of Hillsborough FL, Revenue Bonds | ||
4.00%, due 8/1/21 | 125,000 | 126,156 |
County of Lee, Tourist Development Tax, Revenue Bonds | ||
Series A | ||
3.00%, due 10/1/21 | 1,030,000 | 1,042,276 |
County of Lee County, Water & Sewer, Revenue Bonds | ||
4.00%, due 10/1/21 | 125,000 | 127,000 |
County of Miami-Dade FL, Taxable Capital Asset Acquisition, Revenue Bonds | ||
0.375%, due 4/1/23 | 5,000,000 | 5,002,260 |
Principal Amount | Value | |
Florida (continued) | ||
County of Miami-Dade FL, Aviation, Revenue Bonds | ||
Series B | ||
1.885%, due 10/1/21 | $ 655,000 | $ 659,620 |
Series B | ||
1.885%, due 10/1/21 | 845,000 | 849,918 |
Series A | ||
5.00%, due 10/1/23 | 2,500,000 | 2,782,352 |
Series A | ||
5.00%, due 10/1/24 | 2,500,000 | 2,895,398 |
Series A | ||
5.00%, due 10/1/25 | 250,000 | 298,294 |
Series B | ||
5.00%, due 10/1/25 | 735,000 | 785,131 |
Series A | ||
5.00%, due 10/1/28 (b) | 2,210,000 | 2,589,483 |
County of Miami-Dade FL, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/37 | 750,000 | 791,154 |
County of Miami-Dade FL, Unlimited General Obligation | ||
Series C | ||
5.00%, due 10/1/23 | 215,000 | 219,273 |
County of Miami-Dade FL, Water & Sewer System, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/30 | 835,000 | 994,290 |
County of Osceola FL, Transportation, Revenue Bonds | ||
Series A-1 | ||
5.00%, due 10/1/21 | 250,000 | 253,927 |
Series A-1 | ||
5.00%, due 10/1/22 | 250,000 | 266,187 |
County of St Lucie FL, Sales Tax, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/25 | 100,000 | 111,140 |
Flagler County School District, Certificate of Participation | ||
Series A, Insured: AGM | ||
5.00%, due 8/1/22 | 200,000 | 211,718 |
Florida Municipal Loan Council, Revenue Bonds | ||
Series D | ||
4.00%, due 10/1/21 | 500,000 | 507,584 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Florida (continued) | ||
Florida Municipal Power Agency, All Requirements Power Supply, Revenue Bonds | ||
1.425%, due 10/1/26 | $ 4,000,000 | $ 4,010,526 |
Greater Orlando Aviation Authority, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/21 | 1,000,000 | 1,019,747 |
Series A | ||
5.00%, due 10/1/22 | 6,270,000 | 6,695,800 |
Series A | ||
5.00%, due 10/1/23 | 500,000 | 555,191 |
Series A | ||
5.00%, due 10/1/25 | 805,000 | 955,476 |
Herons Glen Recreation District, Special Assessment | ||
Insured: BAM | ||
2.50%, due 5/1/22 | 225,000 | 229,175 |
Insured: BAM | ||
2.50%, due 5/1/23 | 230,000 | 237,896 |
Insured: BAM | ||
2.50%, due 5/1/24 | 150,000 | 157,258 |
Hillsborough County Industrial Development Authority, Tampa General Hospital Project, Revenue Bonds | ||
5.00%, due 8/1/25 | 260,000 | 306,055 |
5.00%, due 8/1/26 | 315,000 | 381,625 |
Hillsborough County School Board, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 10/1/22 | 2,375,000 | 2,532,796 |
Lakewood Ranch Stewardship District, Lakewood Center and NW Sector Projects, Special Assessment, Senior Lien | ||
Insured: AGM | ||
0.941%, due 5/1/21 | 1,075,000 | 1,075,000 |
Insured: AGM | ||
1.041%, due 5/1/22 | 1,085,000 | 1,091,848 |
Insured: AGM | ||
1.164%, due 5/1/23 | 545,000 | 551,554 |
Lee County Industrial Development Authority, Cypress Cove at Healthpark Florida, Inc. Memory Care Project, Revenue Bonds | ||
4.50%, due 10/1/32 | 145,000 | 156,548 |
Principal Amount | Value | |
Florida (continued) | ||
Miami-Dade County Educational Facilities Authority, University of Miami, Revenue Bonds | ||
Series B, Insured: AMBAC | ||
5.25%, due 4/1/22 | $ 150,000 | $ 156,477 |
Series B, Insured: AMBAC | ||
5.25%, due 4/1/24 | 1,100,000 | 1,247,539 |
Miami-Dade County Expressway Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/25 | 225,000 | 257,229 |
Mid-Bay Bridge Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/21 | 1,000,000 | 1,017,329 |
Orange County Convention Center, Revenue Bonds | ||
5.00%, due 10/1/21 | 1,985,000 | 2,023,950 |
5.00%, due 10/1/22 | 355,000 | 378,952 |
Orange County Health Facilities Authority, Orlando Health, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/42 | 100,000 | 104,410 |
School District of Broward County, Certificate of Participation | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/24 | 200,000 | 201,557 |
St Lucie County School Board, Certificate of Participation | ||
Insured: AGM | ||
3.00%, due 8/15/26 | 650,000 | 722,761 |
St Lucie County School Board, Sales tax, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 10/1/23 | 130,000 | 144,150 |
State of Florida, Unlimited General Obligation | ||
Series F | ||
3.25%, due 6/1/25 | 580,000 | 581,370 |
Series D | ||
5.00%, due 6/1/23 | 200,000 | 200,738 |
State of Florida, Department of Transportation Turnpike System, Revenue Bonds | ||
Series C | ||
5.00%, due 7/1/21 | 200,000 | 201,557 |
24 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Florida (continued) | ||
State of Florida, Right-of-Way Acquisition and Bridge Construction, Unlimited General Obligation | ||
5.00%, due 7/1/23 | $ 350,000 | $ 386,885 |
Volusia County School Board, Certificate of Participation | ||
5.00%, due 8/1/21 | 365,000 | 369,284 |
65,725,123 | ||
Georgia 2.0% | ||
Atlanta Development Authority The, Piedmont Ellis LLC, Revenue Bonds | ||
3.50%, due 9/1/35 | 100,000 | 107,529 |
Brookhaven Development Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
5.00%, due 7/1/21 | 115,000 | 115,890 |
5.00%, due 7/1/22 | 700,000 | 739,528 |
City of Atlanta GA, Department of Aviation, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/22 (b) | 500,000 | 527,211 |
Series A | ||
5.00%, due 7/1/25 | 3,000,000 | 3,569,912 |
City of Atlanta GA, Airport Passenger Facility Charge, Revenue Bonds, Sub. Lien | ||
Series F | ||
5.00%, due 7/1/22 | 500,000 | 528,295 |
City of Dalton, Georgia Combined Utilities, Revenue Bonds | ||
5.00%, due 3/1/22 | 400,000 | 415,104 |
5.00%, due 3/1/23 | 500,000 | 542,065 |
5.00%, due 3/1/24 | 400,000 | 450,733 |
5.00%, due 3/1/25 | 500,000 | 582,633 |
County of Paulding GA, Water & Sewerage, Revenue Bonds | ||
5.00%, due 12/1/22 | 100,000 | 107,643 |
Georgia State Road & Tollway Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 6/1/21 | 250,000 | 250,920 |
Series B, Insured: State Guaranteed | ||
5.00%, due 10/1/22 | 100,000 | 106,909 |
Principal Amount | Value | |
Georgia (continued) | ||
Main Street Natural Gas, Inc., Revenue Bonds | ||
Series B | ||
4.00%, due 8/1/49 (a) | $ 1,125,000 | $ 1,257,872 |
Series C | ||
4.00%, due 3/1/50 (a) | 6,260,000 | 7,261,230 |
Series A | ||
5.00%, due 5/15/22 | 550,000 | 576,573 |
Series A | ||
5.00%, due 5/15/23 | 1,110,000 | 1,213,876 |
Series A | ||
5.50%, due 9/15/21 | 265,000 | 270,018 |
Municipal Electric Authority of Georgia, Project One Subordinated Bonds, Revenue Bonds | ||
Series C | ||
5.00%, due 1/1/22 | 1,155,000 | 1,190,905 |
5.00%, due 1/1/22 | 3,000,000 | 3,093,261 |
5.00%, due 1/1/23 | 4,550,000 | 4,899,519 |
5.00%, due 1/1/24 | 2,500,000 | 2,800,166 |
5.00%, due 1/1/25 | 1,000,000 | 1,158,955 |
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project, Revenue Bonds | ||
5.00%, due 1/1/23 | 350,000 | 375,794 |
5.00%, due 1/1/24 | 445,000 | 497,172 |
5.00%, due 1/1/25 | 450,000 | 521,530 |
State of Georgia, Unlimited General Obligation | ||
Series B | ||
1.25%, due 8/1/21 | 5,000,000 | 5,014,184 |
Series H | ||
5.00%, due 12/1/22 | 550,000 | 592,584 |
Series F | ||
5.00%, due 1/1/23 | 550,000 | 594,643 |
39,362,654 | ||
Guam 0.6% | ||
Antonio B Won Pat International Airport Authority, Revenue Bonds | ||
Series B | ||
3.133%, due 10/1/24 | 1,940,000 | 1,927,973 |
Guam Government Waterworks Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/21 | 385,000 | 387,755 |
Series A | ||
5.00%, due 7/1/24 | 300,000 | 339,026 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Guam (continued) | ||
Guam Government Waterworks Authority, Revenue Bonds (continued) | ||
5.00%, due 7/1/24 | $ 400,000 | $ 452,035 |
5.25%, due 7/1/22 | 1,390,000 | 1,466,394 |
Guam Power Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/23 | 200,000 | 212,934 |
Series A, Insured: AGM | ||
5.00%, due 10/1/25 | 950,000 | 1,009,393 |
Port Authority of Guam, Revenue Bonds | ||
Series C | ||
3.783%, due 7/1/21 | 500,000 | 501,294 |
Series B | ||
5.00%, due 7/1/22 (b) | 400,000 | 417,495 |
Territory of Guam, Section 30, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/21 | 5,295,000 | 5,424,490 |
12,138,789 | ||
Hawaii 0.1% | ||
State of Hawaii Airports System, Certificate of Participation | ||
5.25%, due 8/1/24 | 250,000 | 276,633 |
5.25%, due 8/1/25 | 1,300,000 | 1,434,486 |
State of Hawaii Harbor System, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 7/1/24 | 300,000 | 341,043 |
Series A | ||
5.00%, due 7/1/25 | 450,000 | 528,357 |
2,580,519 | ||
Idaho 0.3% | ||
Idaho Health Facilities Authority, St Luke's Health System Project, Revenue Bonds | ||
5.00%, due 3/1/22 | 585,000 | 607,487 |
Idaho Health Facilities Authority, ADA County Coroner Project, Revenue Bonds | ||
5.00%, due 9/1/23 | 170,000 | 188,272 |
5.00%, due 9/1/24 | 265,000 | 304,468 |
5.00%, due 9/1/25 | 285,000 | 338,075 |
Principal Amount | Value | |
Idaho (continued) | ||
Idaho Housing & Finance Association, Revenue Bonds | ||
Series A | ||
5.00%, due 7/15/29 | $ 3,500,000 | $ 4,587,231 |
6,025,533 | ||
Illinois 11.0% | ||
Carol Stream Park District, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
4.00%, due 11/1/24 | 215,000 | 239,274 |
Series C, Insured: BAM | ||
4.00%, due 11/1/25 | 450,000 | 512,405 |
Series C, Insured: BAM | ||
4.00%, due 11/1/26 | 550,000 | 637,474 |
Chicago Board of Education, Capital Appreciation, School Reform, Unlimited General Obligation | ||
Insured: NATL | ||
(zero coupon), due 12/1/23 | 500,000 | 487,769 |
Chicago Board of Education, Capital Appreciation, Unlimited General Obligation | ||
Series A, Insured: NATL | ||
(zero coupon), due 12/1/25 | 1,500,000 | 1,408,134 |
Chicago Board of Education, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 4,650,000 | 5,163,882 |
Chicago Midway International Airport, Revenue Bonds, Second Lien (b) | ||
Series A | ||
5.00%, due 1/1/24 | 3,485,000 | 3,896,535 |
Series A | ||
5.00%, due 1/1/24 | 3,000,000 | 3,354,263 |
Series A | ||
5.00%, due 1/1/27 | 1,040,000 | 1,159,001 |
Chicago O'Hare International Airport, Revenue Bonds, Senior Lien | ||
Series D | ||
5.00%, due 1/1/22 (b) | 930,000 | 959,037 |
Series D | ||
5.00%, due 1/1/24 (b) | 150,000 | 167,713 |
Series B | ||
5.00%, due 1/1/24 (b) | 2,000,000 | 2,062,038 |
Series D | ||
5.00%, due 1/1/24 | 850,000 | 917,305 |
26 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Chicago O'Hare International Airport, Revenue Bonds, Senior Lien (continued) | ||
Series E | ||
5.00%, due 1/1/24 | $ 200,000 | $ 224,467 |
Series A | ||
5.00%, due 1/1/25 (b) | 235,000 | 271,707 |
Chicago O'Hare International Airport, Passenger Facility Charge, Revenue Bonds | ||
5.00%, due 1/1/25 (b) | 835,000 | 860,679 |
Chicago Park District, Special Recreation Activity Alternate Revenue Source, Unlimited General Obligation | ||
5.00%, due 11/15/21 | 800,000 | 818,313 |
Chicago Park District, Limited General Obligation | ||
Series C | ||
5.00%, due 1/1/23 | 500,000 | 535,382 |
Chicago Park District, Unlimited General Obligation | ||
Series F-2 | ||
5.00%, due 1/1/25 | 400,000 | 459,191 |
Series F-2 | ||
5.00%, due 1/1/26 | 550,000 | 650,007 |
Chicago Transit Authority, 5337 State of Good Repair Formula Funds, Revenue Bonds | ||
5.00%, due 6/1/22 | 1,670,000 | 1,750,833 |
Chicago Transit Authority, Revenue Bonds | ||
5.00%, due 6/1/25 | 8,180,000 | 9,612,037 |
Chicago Transit Authority, Sales Tax Receipts, Revenue Bonds | ||
5.25%, due 12/1/31 | 85,000 | 87,526 |
Chicago Transit Authority Sales Tax Receipts Fund, Revenue Bonds | ||
5.00%, due 12/1/21 | 5,075,000 | 5,218,507 |
5.25%, due 12/1/23 | 1,040,000 | 1,070,903 |
5.25%, due 12/1/24 | 610,000 | 628,126 |
5.25%, due 12/1/25 | 60,000 | 61,783 |
5.25%, due 12/1/26 | 200,000 | 205,943 |
City of Batavia IL, Unlimited General Obligation | ||
3.00%, due 1/1/25 | 225,000 | 243,061 |
Principal Amount | Value | |
Illinois (continued) | ||
City of Berwyn IL, Unlimited General Obligation | ||
Series A | ||
5.00%, due 12/1/23 | $ 330,000 | $ 355,114 |
Series A | ||
5.00%, due 12/1/24 | 820,000 | 903,253 |
Series A | ||
5.00%, due 12/1/25 | 465,000 | 523,391 |
Series A | ||
5.00%, due 12/1/26 | 705,000 | 803,971 |
City of Canton IL, Alternative Revenue Source, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
3.00%, due 12/1/21 | 525,000 | 531,428 |
Series A, Insured: BAM | ||
3.00%, due 12/1/22 | 635,000 | 655,299 |
Series A, Insured: BAM | ||
3.00%, due 12/1/23 | 550,000 | 579,849 |
City of Chicago IL, Unlimited General Obligation | ||
Series C | ||
(zero coupon), due 1/1/25 | 2,255,000 | 2,106,534 |
Series C | ||
4.00%, due 1/1/24 | 240,000 | 244,948 |
Series C | ||
5.00%, due 1/1/24 | 3,520,000 | 3,898,159 |
Series C | ||
5.00%, due 1/1/24 | 200,000 | 205,433 |
5.25%, due 1/1/28 | 925,000 | 1,049,861 |
City of Chicago IL, Waterworks, Revenue Bonds, Second Lien | ||
Series 2017-2 | ||
5.00%, due 11/1/21 | 120,000 | 122,691 |
5.00%, due 11/1/22 | 500,000 | 533,861 |
5.00%, due 11/1/24 | 250,000 | 267,553 |
Insured: AGM | ||
5.00%, due 11/1/25 | 400,000 | 427,792 |
City of Chicago IL, Project, Unlimited General Obligation | ||
Series A | ||
5.00%, due 1/1/22 | 790,000 | 811,309 |
Series A | ||
5.00%, due 1/1/26 | 405,000 | 445,051 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
City of Chicago IL, Wastewater Transmission Project, Revenue Bonds, Second Lien | ||
Series C | ||
5.00%, due 1/1/22 | $ 250,000 | $ 257,501 |
5.00%, due 1/1/24 | 150,000 | 168,605 |
5.00%, due 1/1/26 | 1,130,000 | 1,166,895 |
City of Chicago IL, Prerefunded, Unlimited General Obligation | ||
Series C | ||
5.00%, due 1/1/22 | 85,000 | 87,694 |
City of Chicago IL, Unrefunded, Unlimited General Obligation | ||
Series C | ||
5.00%, due 1/1/23 | 3,885,000 | 4,150,807 |
City of Chicago IL, Neighborhoods Alive 21 Program, Unlimited General Obligation | ||
Series 2002B | ||
5.00%, due 1/1/24 | 150,000 | 166,115 |
City of Chicago IL, Waterworks, Project, Revenue Bonds, Second Lien | ||
5.00%, due 11/1/25 | 155,000 | 178,839 |
Insured: BAM | ||
5.00%, due 11/1/25 | 135,000 | 156,629 |
5.00%, due 11/1/26 | 410,000 | 472,317 |
City of Chicago IL, Neighbourhoods Alive 21 Program, Unlimited General Obligation | ||
Series 2002B | ||
5.00%, due 1/1/26 | 170,000 | 192,999 |
Series 2002B | ||
5.25%, due 1/1/28 | 150,000 | 170,248 |
City of Kankakee IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/24 | 750,000 | 811,942 |
City of Kankakee IL, Special Obligation, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/25 | 800,000 | 881,430 |
City of Monmouth IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/22 | 350,000 | 367,889 |
Principal Amount | Value | |
Illinois (continued) | ||
City of Monmouth IL, Unlimited General Obligation (continued) | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/23 | $ 365,000 | $ 396,523 |
Series A, Insured: BAM | ||
4.00%, due 12/1/24 | 380,000 | 422,911 |
City of Mount Vernon IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/15/21 | 900,000 | 920,857 |
Insured: BAM | ||
4.00%, due 12/15/22 | 1,150,000 | 1,219,798 |
Insured: BAM | ||
4.00%, due 12/15/23 | 2,305,000 | 2,505,587 |
Insured: BAM | ||
4.00%, due 12/15/24 | 2,400,000 | 2,673,467 |
Insured: BAM | ||
4.00%, due 12/15/25 | 2,490,000 | 2,829,521 |
City of Rock Island IL, Green Bonds, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/21 | 105,000 | 107,273 |
Insured: BAM | ||
4.00%, due 12/1/22 | 220,000 | 232,816 |
Insured: BAM | ||
4.00%, due 12/1/23 | 155,000 | 168,470 |
Insured: BAM | ||
4.00%, due 12/1/24 | 175,000 | 195,090 |
Insured: BAM | ||
4.00%, due 12/1/25 | 175,000 | 198,872 |
City of Rockford IL, Alternative Revenue Source, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/15/21 | 130,000 | 132,842 |
Series A, Insured: AGM | ||
4.00%, due 12/15/22 | 135,000 | 142,159 |
Series A, Insured: AGM | ||
4.00%, due 12/15/23 | 140,000 | 152,298 |
Series A, Insured: AGM | ||
4.00%, due 12/15/24 | 290,000 | 323,924 |
City of Rockford IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/15/21 | 320,000 | 326,995 |
Insured: BAM | ||
4.00%, due 12/15/22 | 250,000 | 262,760 |
28 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
City of Rockford IL, Unlimited General Obligation (continued) | ||
Insured: BAM | ||
4.00%, due 12/15/23 | $ 560,000 | $ 609,343 |
Insured: BAM | ||
4.00%, due 12/15/24 | 285,000 | 318,448 |
City of Springfield IL, Electric, Revenue Bonds, Senior Lien | ||
5.00%, due 3/1/25 | 1,055,000 | 1,226,745 |
City of Sterling IL, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
0.40%, due 11/1/23 | 245,000 | 244,774 |
Series B, Insured: BAM | ||
4.00%, due 11/1/25 | 100,000 | 113,915 |
Series B, Insured: BAM | ||
4.00%, due 11/1/26 | 370,000 | 429,705 |
Series B, Insured: BAM | ||
4.00%, due 11/1/29 | 285,000 | 345,415 |
City of Waukegan IL, Water & Sewer System, Revenue Bonds, First Lien | ||
Insured: AGM | ||
4.00%, due 12/30/21 | 100,000 | 102,421 |
Insured: AGM | ||
4.00%, due 12/30/23 | 100,000 | 108,748 |
Insured: AGM | ||
4.00%, due 12/30/24 | 110,000 | 122,571 |
Insured: AGM | ||
4.00%, due 12/30/25 | 150,000 | 170,307 |
City of Waukegan IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/30/23 | 250,000 | 272,146 |
Series A, Insured: BAM | ||
4.00%, due 12/30/24 | 280,000 | 311,570 |
Series A, Insured: BAM | ||
4.00%, due 12/30/26 | 300,000 | 345,517 |
Cook County Community Unit School District No. 401 Elmwood Park, Unlimited General Obligation | ||
3.00%, due 12/1/22 | 500,000 | 520,873 |
Cook County High School District No. 205 Thornton Township, Limited General Obligation | ||
Series C, Insured: BAM | ||
5.00%, due 12/1/25 | 2,300,000 | 2,711,956 |
Principal Amount | Value | |
Illinois (continued) | ||
Cook County School District No. 122 Ridgeland, Unlimited General Obligation | ||
Series A | ||
3.00%, due 12/1/22 | $ 950,000 | $ 987,363 |
Cook County School District No. 73.5 Skokie, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/21 | 55,000 | 56,158 |
Cook County School District No. 78 Rosemont, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/1/21 | 100,000 | 102,680 |
Cook County School District No. 87 Berkeley, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/1/24 | 500,000 | 581,361 |
Insured: AGM | ||
5.00%, due 12/1/25 | 500,000 | 599,979 |
Insured: AGM | ||
5.00%, due 12/1/26 | 500,000 | 617,488 |
Cook County School District No. 88 Bellwood, Limited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/23 | 425,000 | 463,420 |
Series A, Insured: BAM | ||
4.00%, due 12/1/24 | 325,000 | 363,777 |
Cook County School District No. 94, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 12/1/21 | 180,000 | 184,486 |
Insured: BAM | ||
5.00%, due 12/1/22 | 340,000 | 362,581 |
Insured: BAM | ||
5.00%, due 12/1/23 | 555,000 | 617,089 |
Insured: BAM | ||
5.00%, due 12/1/24 | 370,000 | 425,081 |
Insured: BAM | ||
5.00%, due 12/1/25 | 390,000 | 461,774 |
Cook County Township High School District No. 220 Reavis, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 760,000 | 821,165 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Cook County Township High School District No. 220 Reavis, Unlimited General Obligation (continued) | ||
Insured: BAM | ||
5.00%, due 12/1/24 | $ 570,000 | $ 654,854 |
County of Cook IL, Unlimited General Obligation | ||
Series A | ||
5.25%, due 11/15/25 | 200,000 | 205,275 |
Crawford Hospital District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 1/1/22 | 100,000 | 102,190 |
Insured: AGM | ||
4.00%, due 1/1/23 | 265,000 | 279,346 |
Insured: AGM | ||
4.00%, due 1/1/24 | 280,000 | 304,129 |
Insured: AGM | ||
4.00%, due 1/1/25 | 285,000 | 316,936 |
Insured: AGM | ||
4.00%, due 1/1/26 | 300,000 | 340,194 |
Darien-Woodridge Fire Protection District, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 12/30/22 | 75,000 | 77,998 |
Insured: BAM | ||
3.00%, due 12/30/23 | 100,000 | 106,420 |
Insured: BAM | ||
3.00%, due 12/30/25 | 100,000 | 109,480 |
Illinois Development Finance Authority, Regenct Park, Revenue Bonds | ||
(zero coupon), due 7/15/25 | 760,000 | 740,818 |
Illinois Finance Authority, Illinois Wesleyan University, Revenue Bonds | ||
4.00%, due 9/1/21 | 265,000 | 267,893 |
5.00%, due 9/1/22 | 560,000 | 592,158 |
Illinois Finance Authority, Chicago International Charter School Project, Revenue Bonds | ||
4.00%, due 12/1/21 | 425,000 | 429,512 |
Illinois Finance Authority, OSF Healthcare System, Revenue Bonds | ||
Series A | ||
5.00%, due 5/15/23 | 400,000 | 437,516 |
5.00%, due 5/15/50 (a) | 4,250,000 | 4,818,540 |
Principal Amount | Value | |
Illinois (continued) | ||
Illinois Finance Authority, Ann & Robert H Lurie Children's Hospital Obligated Group, Revenue Bonds | ||
5.00%, due 8/15/23 | $ 250,000 | $ 277,228 |
Illinois Sports Facilities Authority (The), Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 6/15/25 | 115,000 | 129,393 |
Illinois State Toll Highway Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/21 | 70,000 | 71,938 |
Series D | ||
5.00%, due 1/1/22 | 55,000 | 56,743 |
Series A | ||
5.00%, due 12/1/22 | 3,010,000 | 3,237,577 |
Illinois State University, Auxiliary Facilities System, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 4/1/22 | 425,000 | 442,388 |
Series B, Insured: AGM | ||
5.00%, due 4/1/22 | 645,000 | 671,389 |
Kane County School District No. 131 Aurora East Side, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 580,000 | 610,864 |
Kankakee County School District No. 111 Kankakee, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 1/1/22 | 255,000 | 260,977 |
Insured: BAM | ||
4.00%, due 1/1/24 | 370,000 | 401,681 |
Insured: BAM | ||
4.00%, due 1/1/25 | 390,000 | 433,106 |
Kendall Kane & Will Counties Community Unit School District No. 308, Unlimited General Obligation | ||
5.25%, due 2/1/27 | 1,000,000 | 1,012,365 |
Knox & Warren Counties Community Unit School District No. 205 Galesburg, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
4.00%, due 1/1/24 | 590,000 | 640,844 |
Series A, Insured: BAM | ||
4.00%, due 12/1/24 | 665,000 | 742,591 |
30 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Knox & Warren Counties Community Unit School District No. 205 Galesburg, Unlimited General Obligation (continued) | ||
Series B, Insured: BAM | ||
4.00%, due 1/1/25 | $ 625,000 | $ 693,841 |
Series A, Insured: BAM | ||
4.00%, due 12/1/25 | 685,000 | 778,111 |
Series B, Insured: BAM | ||
4.00%, due 1/1/26 | 640,000 | 725,124 |
Series A, Insured: BAM | ||
4.00%, due 12/1/26 | 680,000 | 784,934 |
La Salle County School District No. 141 Ottawa, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/21 | 585,000 | 596,979 |
Insured: AGM | ||
4.00%, due 12/1/22 | 370,000 | 388,433 |
Lake County Community Consolidated School District No. 3 Beach Park, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 2/1/24 | 405,000 | 442,759 |
Insured: AGM | ||
4.00%, due 2/1/25 | 450,000 | 505,266 |
Macon County School District No. 61 Decatur, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 1/1/24 | 750,000 | 813,596 |
Insured: AGM | ||
4.00%, due 12/1/24 | 100,000 | 111,217 |
Insured: AGM | ||
4.00%, due 12/1/27 | 1,020,000 | 1,190,095 |
Macoupin County Community Unit School District No. 1 Carlinville, Limited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 12/1/24 | 535,000 | 581,931 |
Series B, Insured: BAM | ||
3.00%, due 12/1/25 | 535,000 | 590,658 |
Series B, Insured: BAM | ||
3.00%, due 12/1/26 | 750,000 | 837,376 |
Principal Amount | Value | |
Illinois (continued) | ||
Madison-Macoupin Etc Counties Community College District No. 536, Unlimited General Obligation | ||
Series A | ||
5.00%, due 11/1/21 | $ 70,000 | $ 71,559 |
Madison-Macoupin Etc Counties Community College District No. 536, Lewis & Clark Community Project, Unlimited General Obligation | ||
5.00%, due 11/1/22 | 420,000 | 448,118 |
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Capital Appreciation, Revenue Bonds | ||
Insured: NATL | ||
(zero coupon), due 6/15/21 | 410,000 | 409,846 |
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Revenue Bonds | ||
Insured: NATL | ||
(zero coupon), due 12/15/23 | 175,000 | 170,463 |
Metropolitan Water Reclamation District of Greater Chicago, Capital Improvement, Limited General Obligation | ||
Series B | ||
5.00%, due 12/1/23 | 4,200,000 | 4,318,535 |
Series B | ||
5.00%, due 12/1/30 | 1,250,000 | 1,285,278 |
Metropolitan Water Reclamation District of Greater Chicago, Green Bond, Limited General Obligation | ||
Series C | ||
5.00%, due 12/1/26 | 500,000 | 582,331 |
Montgomery & Macoupin Counties Community Unit School District No. 12 Litchfield, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
4.00%, due 10/1/22 | 295,000 | 310,800 |
Series C, Insured: BAM | ||
4.00%, due 10/1/25 | 355,000 | 401,673 |
Series C, Insured: BAM | ||
4.00%, due 10/1/26 | 380,000 | 438,684 |
Series C, Insured: BAM | ||
4.00%, due 10/1/27 | 405,000 | 475,275 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Montgomery & Macoupin Counties Community Unit School District No. 12 Litchfield, Unlimited General Obligation (continued) | ||
Series C, Insured: BAM | ||
4.00%, due 10/1/28 | $ 430,000 | $ 511,844 |
Northern Illinois University, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 4/1/23 | 240,000 | 260,678 |
Series B, Insured: BAM | ||
5.00%, due 4/1/25 | 850,000 | 989,910 |
Series B, Insured: BAM | ||
5.00%, due 4/1/27 | 1,000,000 | 1,224,599 |
Public Building Commission of Chicago, Revenue Bonds | ||
Insured: AMBAC | ||
5.25%, due 3/1/24 | 1,000,000 | 1,115,564 |
Railsplitter Tobacco Settlement Authority, Revenue Bonds | ||
5.00%, due 6/1/25 | 1,000,000 | 1,168,466 |
Regional Transportation Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/21 | 125,000 | 125,453 |
Series A, Insured: NATL | ||
5.50%, due 7/1/22 | 335,000 | 355,653 |
Insured: AGM | ||
5.75%, due 6/1/21 | 200,000 | 200,838 |
Insured: AGM | ||
6.25%, due 7/1/22 | 360,000 | 385,317 |
Rock Island County Metropolitan Airport Authority, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 1,185,000 | 1,251,137 |
Insured: AGM | ||
4.00%, due 12/1/23 | 1,170,000 | 1,267,912 |
Insured: AGM | ||
4.00%, due 12/1/24 | 1,275,000 | 1,416,114 |
Insured: AGM | ||
4.00%, due 12/1/25 | 1,325,000 | 1,501,288 |
Rock Island County School District No. 41 Rock Island, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 385,000 | 418,044 |
Principal Amount | Value | |
Illinois (continued) | ||
Sales Tax Securitization Corp., Revenue Bonds | ||
Series C | ||
5.00%, due 1/1/22 | $ 1,250,000 | $ 1,288,267 |
Saline County Community Unit School District No. 3 Harrisburg, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 12/1/26 | 765,000 | 850,593 |
Sangamon County School District No. 186 Springfield, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 6/1/22 | 1,000,000 | 1,033,194 |
Series C, Insured: AGM | ||
4.00%, due 6/1/23 | 1,000,000 | 1,072,950 |
Series C, Insured: AGM | ||
4.00%, due 6/1/24 | 1,000,000 | 1,105,094 |
Series C, Insured: AGM | ||
4.00%, due 6/1/25 | 875,000 | 991,910 |
Series C, Insured: AGM | ||
5.00%, due 6/1/26 | 910,000 | 1,100,562 |
Series C, Insured: AGM | ||
5.00%, due 6/1/27 | 955,000 | 1,185,446 |
South Sangamon Water Commission, Alternative Revenue Source, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 1/1/22 | 300,000 | 306,529 |
Insured: AGM | ||
4.00%, due 1/1/23 | 165,000 | 173,792 |
Insured: AGM | ||
4.00%, due 1/1/24 | 350,000 | 378,714 |
Insured: AGM | ||
4.00%, due 1/1/25 | 250,000 | 277,060 |
Southwestern Illinois Development Authority, Southwestern Illinois Flood Prevention District Council, Revenue Bonds | ||
4.00%, due 4/15/22 | 500,000 | 517,582 |
St Clair County High School District No. 201 Belleville, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
4.00%, due 2/1/22 | 1,180,000 | 1,212,496 |
32 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Stark Knox Marshall Henry & Peoria Counties Community Unit School Dist No. 100, Unlimited General Obligation (e) | ||
4.00%, due 12/1/24 | $ 100,000 | $ 112,093 |
4.00%, due 12/1/25 | 250,000 | 286,730 |
4.00%, due 12/1/26 | 260,000 | 304,110 |
State of Illinois, Revenue Bonds | ||
4.00%, due 6/15/21 | 2,500,000 | 2,508,865 |
Series C | ||
5.00%, due 6/15/22 | 95,000 | 99,184 |
State of Illinois, Unlimited General Obligation | ||
4.00%, due 9/1/22 | 480,000 | 502,549 |
Series A | ||
5.00%, due 5/1/21 | 350,000 | 350,000 |
5.00%, due 8/1/21 | 3,295,000 | 3,332,083 |
Series A | ||
5.00%, due 10/1/21 | 1,425,000 | 1,452,039 |
5.00%, due 7/1/23 | 400,000 | 438,227 |
Series A | ||
5.00%, due 10/1/23 | 200,000 | 221,161 |
Series A | ||
5.00%, due 10/1/24 | 200,000 | 228,622 |
Series D | ||
5.00%, due 11/1/24 | 24,950,000 | 28,403,030 |
Series B | ||
5.15%, due 1/1/24 | 500,000 | 541,022 |
State of Illinois, Revenue Bonds, Junior Lien | ||
5.00%, due 6/15/22 | 900,000 | 939,637 |
State of Illinois, Unlimited General Obligation, First Series | ||
Insured: NATL | ||
6.00%, due 11/1/26 | 4,115,000 | 4,992,364 |
State of Illinois, Build America Bonds, Unlimited General Obligation | ||
6.20%, due 7/1/21 | 139,000 | 140,012 |
University of Illinois, Auxiliary Facilities System, Revenue Bonds | ||
Series A, Insured: AMBAC | ||
5.50%, due 4/1/22 | 175,000 | 182,952 |
Village of Bensenville IL, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
3.00%, due 12/30/21 | 100,000 | 101,833 |
Principal Amount | Value | |
Illinois (continued) | ||
Village of Brookfield IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 3/1/22 | $ 250,000 | $ 257,341 |
Insured: BAM | ||
4.00%, due 3/1/23 | 270,000 | 287,553 |
Village of Franklin Park IL, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 4/1/23 | 460,000 | 501,016 |
Village of McCook IL, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/23 | 230,000 | 249,926 |
Village of Sauk Village IL, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
4.00%, due 12/1/21 | 750,000 | 766,237 |
Series C, Insured: BAM | ||
4.00%, due 12/1/21 | 130,000 | 132,814 |
Series C, Insured: BAM | ||
4.00%, due 12/1/22 | 100,000 | 104,966 |
Series C, Insured: BAM | ||
4.00%, due 12/1/23 | 1,030,000 | 1,111,523 |
Village of Stone Park IL, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
4.00%, due 2/1/24 | 135,000 | 145,247 |
Series B, Insured: BAM | ||
4.00%, due 2/1/25 | 150,000 | 164,796 |
Village of Westchester IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 260,000 | 283,714 |
Insured: BAM | ||
4.00%, due 12/1/24 | 270,000 | 302,419 |
Insured: BAM | ||
4.00%, due 12/1/25 | 280,000 | 320,765 |
Insured: BAM | ||
4.00%, due 12/1/26 | 290,000 | 338,851 |
Washington County Community Unit School Dist No. 10 West Washington, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 1/15/22 | 580,000 | 594,810 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
West Chicago Park District, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 12/1/21 | $ 230,000 | $ 233,699 |
Series B, Insured: BAM | ||
3.00%, due 12/1/23 | 225,000 | 238,812 |
Series B, Insured: BAM | ||
3.00%, due 12/1/24 | 485,000 | 523,955 |
Series B, Insured: BAM | ||
3.00%, due 12/1/25 | 520,000 | 570,399 |
Western Illinois University, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 4/1/22 | 1,200,000 | 1,236,009 |
Insured: BAM | ||
4.00%, due 4/1/24 | 1,000,000 | 1,104,250 |
Insured: BAM | ||
4.00%, due 4/1/26 | 1,340,000 | 1,554,866 |
Insured: BAM | ||
4.00%, due 4/1/27 | 1,400,000 | 1,653,838 |
White Oak Library District, Unlimited General Obligation | ||
5.00%, due 1/1/22 | 315,000 | 324,665 |
5.00%, due 1/1/23 | 430,000 | 461,839 |
Whiteside County Community Unit School District No. 2 River Bend, Unlimited General Obligation | ||
Insured: AGM | ||
3.75%, due 12/1/21 | 100,000 | 101,963 |
Will County Community High School District No. 210 Lincoln-Way, Unlimited General Obligation | ||
Insured: AGM | ||
(zero coupon), due 1/1/25 | 685,000 | 653,040 |
Will County Community Unit School District No. 365 Valley View, Capital Appreciation, Unlimited General Obligation | ||
Insured: AGM | ||
(zero coupon), due 11/1/21 | 125,000 | 124,847 |
Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No. 6 Fieldcrest, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/23 | 770,000 | 838,985 |
Principal Amount | Value | |
Illinois (continued) | ||
Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No. 6 Fieldcrest, Unlimited General Obligation (continued) | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/24 | $ 440,000 | $ 492,167 |
Series A, Insured: BAM | ||
4.00%, due 12/1/25 | 200,000 | 227,860 |
Series A, Insured: BAM | ||
4.00%, due 12/1/25 | 690,000 | 786,117 |
Series A, Insured: BAM | ||
4.00%, due 12/1/26 | 175,000 | 202,723 |
Series A, Insured: BAM | ||
4.00%, due 12/1/26 | 330,000 | 382,278 |
Series A, Insured: BAM | ||
4.00%, due 12/1/27 | 275,000 | 323,700 |
Series A, Insured: BAM | ||
4.00%, due 12/1/27 | 400,000 | 470,836 |
218,787,291 | ||
Indiana 0.9% | ||
Brownsburg 1999 School Building Corp., Revenue Bonds | ||
Insured: State Intercept | ||
4.00%, due 1/15/22 | 255,000 | 261,693 |
City of Decatur IN, Green Bond, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 1/1/22 | 235,000 | 239,311 |
City of Evansville IN, Medical School Project | ||
Series A, Insured: BAM | ||
5.00%, due 2/1/23 | 535,000 | 575,720 |
City of Goshen IN, Sewage Works, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 1/1/22 | 130,000 | 132,367 |
Insured: AGM | ||
3.00%, due 7/1/22 | 150,000 | 154,768 |
Insured: AGM | ||
3.00%, due 1/1/23 | 185,000 | 193,193 |
Insured: AGM | ||
3.00%, due 7/1/23 | 150,000 | 158,439 |
Insured: AGM | ||
3.00%, due 1/1/24 | 460,000 | 490,948 |
Insured: AGM | ||
3.00%, due 7/1/24 | 300,000 | 323,286 |
34 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Indiana (continued) | ||
City of Goshen IN, Sewage Works, Revenue Bonds (continued) | ||
Insured: AGM | ||
4.00%, due 1/1/25 | $ 260,000 | $ 291,734 |
Insured: AGM | ||
4.00%, due 7/1/25 | 230,000 | 261,053 |
Greater Jasper School Building Corp., Indiana Ad Valorem Property Tax, 1st Mortgage, Revenue Bonds | ||
Insured: State Intercept | ||
5.00%, due 1/15/27 | 100,000 | 121,967 |
Hammond Multi-School Building Corp., Property First Mortgage, Revenue Bonds | ||
Insured: State Intercept | ||
4.00%, due 7/15/21 | 330,000 | 332,338 |
Insured: State Intercept | ||
5.00%, due 1/15/22 | 555,000 | 572,754 |
Insured: State Intercept | ||
5.00%, due 7/15/22 | 1,040,000 | 1,096,946 |
Indiana Finance Authority, Marian University Project, Revenue Bonds | ||
2.57%, due 9/15/21 | 450,000 | 451,040 |
5.00%, due 9/15/21 | 60,000 | 60,884 |
5.00%, due 9/15/22 | 50,000 | 52,744 |
5.00%, due 9/15/23 | 75,000 | 82,033 |
Indiana Finance Authority, University Health, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/22 | 250,000 | 269,108 |
Indiana Finance Authority, State Revolving Fund Program, Revenue Bonds | ||
5.00%, due 2/1/25 | 75,000 | 77,735 |
Indiana Housing & Community Development Authority, Single Family Mortgage, Revenue Bonds | ||
Series B-2, Insured: GNMA | ||
5.00%, due 7/1/21 (b) | 1,345,000 | 1,354,930 |
Indianapolis Local Public Improvement Bond Bank, Public Improvement, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/22 | 1,175,000 | 1,235,009 |
Principal Amount | Value | |
Indiana (continued) | ||
IPS Multi-School Building Corp., First Mortgage, Revenue Bonds | ||
Insured: State Intercept | ||
5.00%, due 1/15/22 | $ 1,250,000 | $ 1,291,869 |
Muncie Sanitary District, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 7/1/25 | 975,000 | 1,107,497 |
Series A, Insured: AGM | ||
5.00%, due 1/1/26 | 265,000 | 315,851 |
Series A, Insured: AGM | ||
5.00%, due 7/1/26 | 525,000 | 635,215 |
Rensselaer Central Multi-School Building Corp., Valorem Property First Mortgage, Revenue Bonds | ||
Insured: State Intercept | ||
4.00%, due 1/15/22 | 240,000 | 246,350 |
Terre Haute Sanitation District, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 1/1/23 | 320,000 | 332,328 |
Series A, Insured: BAM | ||
3.00%, due 7/1/23 | 390,000 | 409,265 |
Series A, Insured: BAM | ||
3.00%, due 1/1/24 | 350,000 | 370,107 |
Series A, Insured: BAM | ||
3.00%, due 7/1/24 | 385,000 | 410,504 |
Series A, Insured: BAM | ||
3.00%, due 1/1/25 | 400,000 | 429,705 |
Series A, Insured: BAM | ||
3.00%, due 7/1/25 | 390,000 | 422,023 |
Series A, Insured: BAM | ||
3.00%, due 1/1/26 | 275,000 | 299,636 |
Series A, Insured: BAM | ||
3.00%, due 7/1/26 | 280,000 | 306,702 |
Town of Speedway Sewage Works, Revenue Bonds | ||
Series A, Insured: AGM | ||
3.00%, due 9/1/24 | 550,000 | 594,157 |
Wayne Township Metropolitan School District, Limited General Obligation | ||
Insured: State Intercept | ||
3.00%, due 1/15/22 | 500,000 | 508,475 |
Insured: State Intercept | ||
4.00%, due 7/15/22 | 1,010,000 | 1,050,773 |
Insured: State Intercept | ||
4.00%, due 1/15/23 | 1,035,000 | 1,092,879 |
18,613,336 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Iowa 1.1% | ||
Camanche Community School District, Unlimited General Obligation (e) | ||
Insured: AGM | ||
5.00%, due 6/1/25 | $ 535,000 | $ 629,216 |
Insured: AGM | ||
5.00%, due 6/1/26 | 565,000 | 684,940 |
Insured: AGM | ||
5.00%, due 6/1/27 | 590,000 | 734,108 |
City of Altoona IA, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
3.00%, due 6/1/21 | 235,000 | 235,488 |
City of Cedar Falls IA, Capital Loan Notes, Revenue Bonds | ||
5.00%, due 12/1/21 | 140,000 | 143,917 |
City of New Hampton IA, Electric, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 6/1/22 | 135,000 | 138,628 |
Insured: BAM | ||
3.00%, due 6/1/23 | 140,000 | 147,355 |
Insured: BAM | ||
3.00%, due 6/1/24 | 140,000 | 150,317 |
City of Newton IA, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
2.00%, due 6/1/22 | 520,000 | 530,386 |
Clinton Community School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 6/1/21 | 1,180,000 | 1,184,207 |
Insured: AGM | ||
5.00%, due 6/1/22 | 620,000 | 651,595 |
Iowa Finance Authority, Renewable Natural Gas Project, Green Bond, Revenue Bonds | ||
1.50%, due 1/1/42 (b) | 2,000,000 | 2,022,476 |
Iowa Higher Education Loan Authority, Des Moines University Project, Revenue Bonds | ||
5.00%, due 10/1/23 | 515,000 | 571,320 |
5.00%, due 10/1/24 | 550,000 | 631,729 |
5.00%, due 10/1/25 | 570,000 | 673,281 |
Principal Amount | Value | |
Iowa (continued) | ||
Iowa State University of Science & Technology, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/22 | $ 1,215,000 | $ 1,282,878 |
Iowa Student Loan Liquidity Corp., Revenue Bonds (b) | ||
Series A | ||
5.00%, due 12/1/21 | 2,500,000 | 2,568,048 |
Series A | ||
5.00%, due 12/1/24 | 275,000 | 315,623 |
Lewis Central Community School District, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 7/1/24 | 620,000 | 689,174 |
Insured: BAM | ||
4.00%, due 7/1/25 | 570,000 | 649,726 |
Insured: BAM | ||
4.00%, due 7/1/26 | 675,000 | 786,408 |
PEFA, Inc., Revenue Bonds | ||
5.00%, due 9/1/49 | 3,020,000 | 3,659,023 |
Sioux Center Community School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 5/1/21 | 755,000 | 755,000 |
Insured: AGM | ||
5.00%, due 5/1/22 | 350,000 | 366,348 |
Southern Iowa Rural Water Association, Capital Loan Notes, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 12/1/23 | 395,000 | 429,645 |
State of Iowa, Revenue Bonds | ||
5.00%, due 6/15/26 | 130,000 | 159,071 |
Waterloo Community School District, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 7/1/23 | 125,000 | 134,436 |
Insured: AGM | ||
4.00%, due 7/1/24 | 450,000 | 497,214 |
Insured: AGM | ||
4.00%, due 7/1/25 | 450,000 | 508,976 |
Insured: AGM | ||
4.00%, due 7/1/26 | 100,000 | 115,462 |
22,045,995 |
36 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Kansas 0.0% ‡ | ||
Franklin County Unified School District No. 287 West Franklin, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 9/1/23 | $ 305,000 | $ 338,084 |
Kansas Development Finance Authority, Department of Commerce, Revenue Bonds | ||
5.00%, due 6/1/22 | 340,000 | 357,478 |
Washburn University, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 7/1/23 | 200,000 | 215,772 |
911,334 | ||
Kentucky 0.8% | ||
Kentucky Asset Liability Commission, Project Notes, Federal Highway Trust, Revenue Bonds | ||
5.00%, due 9/1/21 | 1,180,000 | 1,198,507 |
Kentucky Bond Development Corp., Lexington Center Corporation Project, Revenue Bonds | ||
5.00%, due 9/1/21 | 725,000 | 736,467 |
5.00%, due 9/1/22 | 550,000 | 582,717 |
Kentucky Economic Development Finance Authority, Next Generation Kentucky Information Highway Project, Revenue Bonds, Senior Lien | ||
5.00%, due 7/1/26 | 3,450,000 | 4,021,560 |
Kentucky Public Energy Authority, Gas Supply, Revenue Bonds | ||
Series C | ||
4.00%, due 8/1/21 | 275,000 | 277,456 |
Series C | ||
4.00%, due 8/1/22 | 390,000 | 407,726 |
Series C | ||
4.00%, due 8/1/23 | 390,000 | 421,419 |
Series C | ||
4.00%, due 2/1/50 (a) | 6,560,000 | 7,738,595 |
15,384,447 | ||
Louisiana 1.2% | ||
Calcasieu Parish School District No. 31, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 3/1/24 | 160,000 | 180,680 |
Principal Amount | Value | |
Louisiana (continued) | ||
Cameron Parish School District No. 15, Unlimited General Obligation | ||
3.00%, due 10/1/21 | $ 125,000 | $ 126,134 |
5.00%, due 10/1/24 | 340,000 | 382,415 |
5.00%, due 10/1/25 | 220,000 | 252,850 |
5.00%, due 10/1/26 | 230,000 | 269,126 |
City of New Orleans LA, Sewerage Service, Revenue Bonds | ||
5.00%, due 6/1/22 | 820,000 | 860,510 |
City of Shreveport LA, Water & Sewer, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 12/1/26 | 210,000 | 258,957 |
Jefferson Parish Hospital Service District No. 2, East Jefferson General Hospital, Revenue Bonds | ||
6.25%, due 7/1/31 | 100,000 | 100,965 |
Jefferson Sales Tax District, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/25 | 1,295,000 | 1,546,175 |
Louisiana Local Government Environmental Facilities & Community Development Authority, City of Crowley Louisiana Project, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 10/1/23 | 515,000 | 557,700 |
Insured: BAM | ||
4.00%, due 10/1/24 | 535,000 | 595,706 |
Louisiana Local Government Environmental Facilities & Community Development Authority, University Facilities, Inc. Project, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 10/1/24 | 395,000 | 442,666 |
Insured: AGM | ||
4.00%, due 10/1/25 | 305,000 | 350,799 |
Louisiana Local Government Environmental Facilities & Community Development Authority, Innovative Student Facilities, Inc. Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 10/1/22 | 290,000 | 309,182 |
Insured: BAM | ||
5.00%, due 10/1/23 | 230,000 | 255,623 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Louisiana (continued) | ||
Louisiana Local Government Environmental Facilities & Community Development Authority, Innovative Student Facilities, Inc. Project, Revenue Bonds (continued) | ||
Insured: BAM | ||
5.00%, due 10/1/24 | $ 225,000 | $ 259,590 |
Insured: BAM | ||
5.00%, due 10/1/25 | 250,000 | 298,173 |
Louisiana Stadium & Exposition District, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/21 | 1,260,000 | 1,269,260 |
Series A | ||
5.00%, due 7/1/22 | 1,000,000 | 1,053,582 |
Series A | ||
5.00%, due 7/1/24 | 2,065,000 | 2,269,393 |
Series A | ||
5.00%, due 7/1/25 | 1,065,000 | 1,169,200 |
Louisiana Stadium & Exposition District, Revenue Bonds | ||
5.00%, due 7/3/23 | 10,000,000 | 10,748,982 |
Parish of Plaquemines LA, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 3/1/24 | 150,000 | 168,393 |
Rapides Parish Recreation District Ward No. 9, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 3/1/23 | 120,000 | 125,600 |
Insured: AGM | ||
3.00%, due 3/1/24 | 130,000 | 138,974 |
Insured: AGM | ||
3.00%, due 3/1/25 | 150,000 | 163,290 |
24,153,925 | ||
Maine 0.2% | ||
Finance Authority of Maine, Supplemental Education Loan Program, Revenue Bonds (b) | ||
Insured: AGM | ||
5.00%, due 12/1/22 | 500,000 | 535,655 |
Insured: AGM | ||
5.00%, due 12/1/23 | 545,000 | 605,971 |
Principal Amount | Value | |
Maine (continued) | ||
Finance Authority of Maine, Supplemental Education Loan Program, Revenue Bonds (b) (continued) | ||
Insured: AGM | ||
5.00%, due 12/1/24 | $ 520,000 | $ 595,428 |
Insured: AGM | ||
5.00%, due 12/1/25 | 475,000 | 556,590 |
Maine Health & Higher Educational Facilities Authority, Houlton Regional Hospital, Revenue Bonds | ||
Series A, Insured: ST RES FD GTY | ||
5.00%, due 7/1/21 | 75,000 | 75,578 |
Series A, Insured: ST RES FD GTY | ||
5.00%, due 7/1/21 | 20,000 | 20,151 |
Maine Health & Higher Educational Facilities Authority, Eastern Maine Medical Center, Revenue Bonds | ||
Series A, Insured: AGM-CR ST AID WITHHLDG | ||
5.00%, due 7/1/24 | 1,045,000 | 1,191,143 |
3,580,516 | ||
Maryland 1.1% | ||
County of Baltimore MD, Certificate of Participation | ||
5.00%, due 10/1/22 | 115,000 | 122,945 |
County of Frederick MD, Urbana Community Development Authority, Special Tax, Senior Lien | ||
Series A | ||
5.00%, due 7/1/23 | 1,000,000 | 1,099,208 |
Series A | ||
5.00%, due 7/1/24 | 1,060,000 | 1,210,396 |
Maryland Economic Development Corp., Terminal Project, Revenue Bonds | ||
3.25%, due 6/1/22 | 755,000 | 767,340 |
3.40%, due 6/1/23 | 750,000 | 772,951 |
Series B | ||
3.60%, due 6/1/23 | 3,925,000 | 4,061,011 |
3.70%, due 6/1/25 | 1,000,000 | 1,049,113 |
Maryland Economic Development Corp., University of Maryland, College Park Projects, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 6/1/25 | 300,000 | 339,954 |
38 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Maryland (continued) | ||
Maryland Health & Higher Educational Facilities Authority, Johns Hopkins University Issue, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/23 | $ 345,000 | $ 379,620 |
Maryland Health & Higher Educational Facilities Authority, Stevenson University, Inc. Project, Revenue Bonds | ||
5.00%, due 6/1/28 | 200,000 | 247,198 |
5.00%, due 6/1/30 | 350,000 | 442,245 |
Maryland State Transportation Authority, Passenger Facily Charge, Revenue Bonds | ||
5.00%, due 6/1/22 (b) | 850,000 | 892,938 |
Insured: AGM | ||
5.00%, due 6/1/23 | 1,000,000 | 1,096,639 |
St Mary's College of Maryland, Academic Fees and Auxiliary Facility Fees, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 9/1/25 | 250,000 | 285,103 |
State of Maryland, Unlimited General Obligation | ||
Series C | ||
5.00%, due 8/1/21 | 350,000 | 354,168 |
Series C | ||
5.00%, due 8/1/22 | 540,000 | 572,965 |
Series A | ||
5.00%, due 3/15/27 | 7,145,000 | 8,962,239 |
22,656,033 | ||
Massachusetts 1.1% | ||
Bridgewater-Raynham Regional School District, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
4.00%, due 2/1/23 | 730,000 | 778,204 |
City of Fall River MA, Qualified Municipal Purpose Loan, Limited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 12/1/24 | 120,000 | 139,713 |
Insured: State Aid Withholding | ||
5.00%, due 12/1/26 | 350,000 | 434,189 |
Insured: State Aid Withholding | ||
5.00%, due 12/1/27 | 315,000 | 400,229 |
Principal Amount | Value | |
Massachusetts (continued) | ||
Commonwealth of Massachusetts, Limited General Obligation | ||
Series C | ||
5.00%, due 7/1/26 | $ 500,000 | $ 528,355 |
Series A, Insured: AMBAC | ||
5.25%, due 8/1/21 | 285,000 | 288,566 |
Commonwealth of Massachusetts, Revenue Bonds | ||
Insured: NATL | ||
5.50%, due 1/1/22 | 1,070,000 | 1,106,489 |
Insured: NATL | ||
5.50%, due 1/1/23 | 2,855,000 | 3,098,394 |
Insured: NATL | ||
5.50%, due 1/1/25 | 6,380,000 | 7,519,551 |
Massachusetts Bay Transportation Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/22 | 360,000 | 380,502 |
Massachusetts Development Finance Agency, CareGroup Issue, Revenue Bonds | ||
Series H-1 | ||
5.00%, due 7/1/21 | 100,000 | 100,758 |
Massachusetts Development Finance Agency, Northeastern University Issue, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/22 | 280,000 | 299,015 |
Massachusetts Development Finance Agency, South Shore Hospital Issue, Revenue Bonds | ||
Series I | ||
5.00%, due 7/1/23 | 375,000 | 410,923 |
Massachusetts Educational Financing Authority, Revenue Bonds | ||
Series K | ||
5.00%, due 7/1/22 | 500,000 | 527,538 |
Massachusetts Educational Financing Authority, Revenue Bonds, Senior Lien | ||
Series B | ||
5.00%, due 7/1/25 (b) | 100,000 | 117,144 |
Massachusetts School Building Authority, Sales Tax, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 8/15/24 | 110,000 | 116,778 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Massachusetts (continued) | ||
Massachusetts State College Building Authority, Capital Appreciation, Revenue Bonds | ||
Series A, Insured: NATL | ||
(zero coupon), due 5/1/23 | $ 495,000 | $ 492,249 |
Massachusetts State College Building Authority, Revenue Bonds | ||
Series D, Insured: State Intercept | ||
5.00%, due 5/1/21 | 625,000 | 625,000 |
Series A, Insured: State Intercept | ||
5.00%, due 5/1/36 | 145,000 | 152,041 |
Massachusetts Transportation Trust Fund Metropolitan Highway System, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 1/1/22 | 125,000 | 128,996 |
Massachusetts Water Resources Authority, Revenue Bonds | ||
Series C | ||
5.00%, due 8/1/27 | 200,000 | 202,377 |
Series C | ||
5.00%, due 8/1/29 | 200,000 | 202,377 |
Southfield Redevelopment Authority, Revenue Bonds | ||
Series A, Insured: BAM | ||
6.00%, due 8/15/22 | 400,000 | 428,365 |
Series A, Insured: BAM | ||
6.00%, due 8/15/23 | 400,000 | 449,430 |
Series A, Insured: BAM | ||
6.00%, due 8/15/24 | 455,000 | 532,517 |
Series A, Insured: BAM | ||
6.00%, due 8/15/25 | 455,000 | 551,715 |
Town of Douglas MA, MUNI Purpose Loan, Limited General Obligation | ||
4.00%, due 6/1/22 | 100,000 | 104,089 |
Town of Needham MA, Limited General Obligation | ||
4.00%, due 11/1/21 | 105,000 | 107,028 |
University of Massachusetts Building Authority, Revenue Bonds | ||
Series 2 | ||
5.00%, due 11/1/21 | 1,900,000 | 1,945,943 |
22,168,475 |
Principal Amount | Value | |
Michigan 2.6% | ||
Allen Park Public School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
5.00%, due 5/1/24 | $ 630,000 | $ 716,938 |
Allendale Public School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
5.00%, due 11/1/22 | 525,000 | 563,335 |
Anchor Bay School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
4.125%, due 5/1/25 | 50,000 | 50,000 |
Caledonia Community Schools, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
5.00%, due 5/1/22 | 570,000 | 597,676 |
City of Dearborn Heights, Capital Improvement, Limited General Obligation | ||
3.00%, due 5/1/22 (e) | 4,450,000 | 4,565,086 |
City of Detroit MI, Water Sewage Disposal System, Revenue Bonds, Second Lien | ||
Series B, Insured: NATL | ||
5.50%, due 7/1/22 | 1,500,000 | 1,588,491 |
City of Manistee MI, Limited General Obligation | ||
Insured: AGM | ||
3.00%, due 10/1/24 | 200,000 | 216,384 |
Insured: AGM | ||
3.00%, due 10/1/25 | 270,000 | 296,816 |
City of Taylor MI, Michigan Transportation, Limited General Obligation (e) | ||
4.00%, due 3/1/22 | 450,000 | 463,709 |
4.00%, due 3/1/26 | 455,000 | 526,863 |
4.00%, due 3/1/28 | 900,000 | 1,080,189 |
County of Genesee MI, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 6/1/22 | 155,000 | 159,743 |
Series A, Insured: BAM | ||
3.00%, due 6/1/23 | 150,000 | 158,457 |
Series A, Insured: BAM | ||
3.00%, due 6/1/24 | 160,000 | 171,892 |
40 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Michigan (continued) | ||
County of Genesee MI, Water Supply System, Limited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 2/1/23 | $ 500,000 | $ 541,980 |
Fitzgerald Public School District, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 5/1/24 | 870,000 | 958,437 |
Flint Public Library, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 5/1/26 | 1,060,000 | 1,172,650 |
Great Lakes Water Authority, Revenue Bonds, Second Lien | ||
Series A | ||
5.00%, due 7/1/21 | 1,000,000 | 1,007,722 |
Michigan Finance Authority, Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series A-1 | ||
2.326%, due 6/1/30 | 8,000,000 | 8,265,632 |
Series A | ||
4.00%, due 6/1/23 | 1,000,000 | 1,076,044 |
Series A | ||
5.00%, due 6/1/25 | 1,000,000 | 1,176,432 |
Michigan Finance Authority, Revenue Notes | ||
Series A-2, Insured: State Aid Withholding | ||
4.00%, due 8/20/21 | 12,000,000 | 12,137,939 |
Michigan Finance Authority, Energy Conservation Local Project, Revenue Bonds | ||
4.00%, due 6/15/22 | 100,000 | 103,689 |
4.00%, due 6/15/23 | 240,000 | 257,237 |
4.00%, due 6/15/24 | 270,000 | 297,715 |
4.00%, due 6/15/25 | 200,000 | 225,976 |
4.00%, due 6/15/26 | 385,000 | 444,555 |
Michigan Finance Authority, Student Loan Program, Revenue Bonds (b) | ||
Series 25-A | ||
5.00%, due 11/1/21 | 1,700,000 | 1,736,418 |
Series 25-A | ||
5.00%, due 11/1/22 | 1,775,000 | 1,889,491 |
Principal Amount | Value | |
Michigan (continued) | ||
Michigan Finance Authority, Trinity Health Corp. Credit Group, Revenue Bonds | ||
5.00%, due 12/1/21 | $ 200,000 | $ 205,596 |
5.00%, due 12/1/21 | 80,000 | 82,239 |
Michigan Finance Authority, Kettering University Project, Revenue Bonds | ||
5.00%, due 9/1/22 | 175,000 | 185,410 |
5.00%, due 9/1/24 | 200,000 | 227,227 |
5.00%, due 9/1/27 | 550,000 | 676,929 |
5.00%, due 9/1/28 | 500,000 | 625,820 |
Michigan Finance Authority, County of Wayne Criminal Center Justice Project, Revenue Bonds, Senior Lien | ||
5.00%, due 11/1/22 | 500,000 | 534,250 |
Michigan Strategic Fund, Detroit Edison Co., Revenue Bonds | ||
Series BB, Insured: AMBAC | ||
7.00%, due 5/1/21 | 1,170,000 | 1,170,000 |
Royal Oak Hospital Finance Authority, Beaumont Health, Revenue Bonds | ||
5.00%, due 9/1/23 | 340,000 | 377,048 |
Saginaw City School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
4.00%, due 5/1/22 | 310,000 | 321,664 |
Insured: Q-SBLF | ||
4.00%, due 5/1/25 | 1,785,000 | 2,036,065 |
South Huron Valley Utility Authority, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 5/1/22 | 360,000 | 370,017 |
Insured: BAM | ||
3.00%, due 5/1/23 | 480,000 | 506,110 |
Insured: BAM | ||
4.00%, due 5/1/24 | 500,000 | 554,450 |
Insured: BAM | ||
4.00%, due 5/1/25 | 515,000 | 584,806 |
Wayne County Airport Authority, Detroit Metropolitan Wayne County Airport, Revenue Bonds | ||
Series C | ||
5.00%, due 12/1/21 | 500,000 | 501,806 |
51,406,933 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Minnesota 0.7% | ||
Becker Independent School District No. 726, Unlimited General Obligation | ||
Series A, Insured: School District Credit Program | ||
5.00%, due 2/1/22 | $ 375,000 | $ 387,817 |
Series A, Insured: School District Credit Program | ||
5.00%, due 2/1/23 | 730,000 | 787,687 |
Series A, Insured: School District Credit Program | ||
5.00%, due 2/1/24 | 560,000 | 629,056 |
City of Minneapolis MN, Unlimited General Obligation | ||
0.60%, due 12/1/25 | 5,000,000 | 4,943,494 |
City of Minneapolis MN, Allina Health System, Revenue Bonds | ||
5.00%, due 11/15/21 | 100,000 | 102,555 |
Duluth Independent School District No. 709, Certificate of Participation | ||
Series A, Insured: School District Credit Program | ||
0.87%, due 2/1/24 | 390,000 | 390,927 |
Series A, Insured: School District Credit Program | ||
1.10%, due 2/1/25 | 685,000 | 686,246 |
Minneapolis-St Paul Metropolitan Airports Commission, Revenue Bonds | ||
3.50%, due 1/1/24 | 270,000 | 270,636 |
Series B | ||
5.00%, due 1/1/23 | 200,000 | 215,711 |
Minnesota Rural Water Finance Authority, Inc., Public Projects Construction Notes, Revenue Bonds | ||
0.25%, due 8/1/22 | 1,250,000 | 1,250,430 |
Rockford Independent School District No. 883, Unlimited General Obligation | ||
Series A, Insured: School District Credit Program | ||
5.00%, due 2/1/22 | 75,000 | 77,701 |
State of Minnesota, Various Purpose, Unlimited General Obligation | ||
5.00%, due 8/1/23 | 795,000 | 843,443 |
Principal Amount | Value | |
Minnesota (continued) | ||
State of Minnesota, Unlimited General Obligation | ||
Series A | ||
5.00%, due 8/1/25 | $ 3,380,000 | $ 3,742,131 |
14,327,834 | ||
Mississippi 0.2% | ||
City of Jackson MS, Unlimited General Obligation | ||
5.00%, due 3/1/22 | 350,000 | 363,364 |
5.00%, due 3/1/23 | 325,000 | 351,969 |
5.00%, due 3/1/24 | 515,000 | 582,497 |
Mississippi Development Bank, Hinds County School District Project, Revenue Bonds | ||
4.00%, due 3/1/24 | 330,000 | 363,489 |
Mississippi Development Bank, Municipal Energy Agency of Mississippi Power Supply Refunding Project, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 3/1/27 | 300,000 | 360,514 |
State of Mississippi, Revenue Bonds | ||
Series A | ||
5.00%, due 10/15/22 | 1,000,000 | 1,063,454 |
West Rankin Utility Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 1/1/26 | 435,000 | 504,229 |
3,589,516 | ||
Missouri 0.7% | ||
City of St Louis MO, Airport, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/23 | 3,000,000 | 3,307,905 |
Kansas City Industrial Development Authority, Downtown Redevelopment District, Revenue Bonds | ||
Series A, Insured: CITY APPROP | ||
5.00%, due 9/1/21 | 4,420,000 | 4,489,912 |
Kansas City Municipal Assistance Corp., Capital Appreciation, Revenue Bonds | ||
Series B-1, Insured: AMBAC | ||
(zero coupon), due 4/15/22 | 100,000 | 99,821 |
Insured: AGC-ICC AMBAC | ||
(zero coupon), due 4/15/23 | 880,000 | 875,307 |
42 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Missouri (continued) | ||
Lincoln University, Auxiliary System, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 6/1/22 | $ 300,000 | $ 315,322 |
Insured: AGM | ||
5.00%, due 6/1/23 | 320,000 | 350,924 |
Missouri Highway & Transportation Commission, Federal Highway Reimbursement, Revenue Bonds | ||
Series A | ||
5.00%, due 5/1/21 | 2,610,000 | 2,610,000 |
Missouri State Health & Educational Facilities Authority, AT Still University of Health Sciences, Revenue Bonds | ||
2.29%, due 10/1/21 | 1,000,000 | 1,004,925 |
13,054,116 | ||
Montana 0.3% | ||
Gallatin County School District No. 72 Ophir, Unlimited General Obligation | ||
Series A | ||
2.00%, due 7/1/21 | 340,000 | 340,935 |
Series A | ||
2.00%, due 7/1/22 | 290,000 | 295,628 |
Series A | ||
2.00%, due 7/1/23 | 250,000 | 258,642 |
3.00%, due 7/1/21 | 500,000 | 502,166 |
4.00%, due 7/1/22 | 450,000 | 469,130 |
4.00%, due 7/1/23 | 315,000 | 339,203 |
4.00%, due 7/1/25 | 715,000 | 812,795 |
4.00%, due 7/1/26 | 750,000 | 871,721 |
Montana Facility Finance Authority, Kalispell Regional Medical Center, Revenue Bonds | ||
4.378%, due 7/1/22 | 915,000 | 939,188 |
State of Montana, Unlimited General Obligation | ||
Series C | ||
5.00%, due 8/1/21 | 275,000 | 278,269 |
Series C | ||
5.00%, due 8/1/22 | 225,000 | 238,706 |
Series C | ||
5.00%, due 8/1/24 | 440,000 | 507,911 |
5,854,294 |
Principal Amount | Value | |
Nebraska 0.7% | ||
Central Plains Energy Project, Nebraska Gas Project No. 4, Revenue Bonds | ||
5.00%, due 3/1/50 | $ 8,920,000 | $ 9,929,795 |
Cheyenne County School District No. 1, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
4.00%, due 12/15/22 | 585,000 | 620,408 |
Series B, Insured: AGM | ||
4.00%, due 12/15/23 | 650,000 | 712,437 |
City of Grand Island NE, Combined Utility System, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 8/15/22 | 500,000 | 524,352 |
Series A, Insured: AGM | ||
4.00%, due 8/15/23 | 400,000 | 433,513 |
Series A, Insured: AGM | ||
4.00%, due 8/15/24 | 400,000 | 446,409 |
Omaha Public Power District, Revenue Bonds | ||
Series A | ||
5.00%, due 2/1/25 | 65,000 | 67,371 |
Series A | ||
5.00%, due 2/1/26 | 90,000 | 93,282 |
University of Nebraska Facilities Corp., UNMC Utiity Improvement Project, Revenue Bonds | ||
2.00%, due 2/15/23 | 200,000 | 206,795 |
13,034,362 | ||
Nevada 0.7% | ||
Clark County School District, Limited General Obligation | ||
Series A, Insured: AGM | ||
3.00%, due 6/15/22 | 750,000 | 773,012 |
Series A, Insured: AGM | ||
3.00%, due 6/15/23 | 650,000 | 687,284 |
Series A, Insured: AGM | ||
3.00%, due 6/15/24 | 650,000 | 703,008 |
Series A, Insured: AGM | ||
3.00%, due 6/15/25 | 800,000 | 880,123 |
Series C | ||
5.00%, due 6/15/22 | 1,520,000 | 1,600,432 |
Series C | ||
5.00%, due 6/15/23 | 1,650,000 | 1,814,149 |
Series C | ||
5.00%, due 6/15/23 | 500,000 | 549,742 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Nevada (continued) | ||
Clark County School District, Limited General Obligation (continued) | ||
Series D | ||
5.00%, due 6/15/27 | $ 275,000 | $ 294,623 |
County of Clark, Department of Aviation, Revenue Bonds, Sub. Lien | ||
Series C | ||
5.00%, due 7/1/21 (b) | 1,125,000 | 1,133,578 |
Series A | ||
5.00%, due 7/1/21 | 3,000,000 | 3,023,360 |
5.00%, due 7/1/21 | 1,235,000 | 1,244,457 |
Las Vegas Convention & Visitors Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/23 | 150,000 | 162,845 |
Series B | ||
5.00%, due 7/1/29 | 290,000 | 356,870 |
Las Vegas Valley Water District, Limited General Obligation | ||
Series A | ||
5.00%, due 6/1/23 | 110,000 | 121,114 |
Washoe County School District, School Improvement Bonds, Limited General Obligation | ||
Series A | ||
5.00%, due 10/1/22 | 300,000 | 320,727 |
Series A | ||
5.00%, due 10/1/23 | 535,000 | 595,972 |
14,261,296 | ||
New Hampshire 0.0% ‡ | ||
New Hampshire Business Finance Authority, Pennichuck Water Works, Inc. Project, Revenue Bonds | ||
5.00%, due 1/1/23 (b) | 600,000 | 646,091 |
New Hampshire Municipal Bond Bank, Revenue Bonds | ||
Series E, Insured: State Intercept | ||
4.00%, due 1/15/28 | 200,000 | 205,463 |
851,554 | ||
New Jersey 8.2% | ||
Atlantic City Board of Education, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
4.00%, due 4/1/24 | 325,000 | 359,380 |
Principal Amount | Value | |
New Jersey (continued) | ||
Bergen County Improvement Authority (The), Bergen New Bridge Medical Centre Project, Revenue Bonds | ||
Insured: County Guaranteed | ||
3.00%, due 8/15/22 | $ 3,270,000 | $ 3,382,994 |
Borough of Avalon NJ, Water and Sewer Utility, Unlimited General Obligation | ||
5.00%, due 11/1/21 | 100,000 | 102,418 |
Borough of Wenonah NJ, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 10/15/23 | 365,000 | 396,651 |
Insured: BAM | ||
4.00%, due 10/15/24 | 370,000 | 413,333 |
Buena Regional School District, County of Atlantic, New Jersey School Energy Savings, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/24 | 220,000 | 251,646 |
Camden County Improvement Authority (The), Rowan University Project, Revenue Bonds | ||
1.125%, due 7/1/21 | 1,350,000 | 1,350,890 |
Series A, Insured: BAM | ||
5.00%, due 7/1/24 | 2,000,000 | 2,287,160 |
Series A, Insured: BAM | ||
5.00%, due 7/1/25 | 875,000 | 1,033,275 |
Casino Reinvestment Development Authority, Inc., Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 11/1/27 | 500,000 | 564,395 |
City of Bridgeton NJ, General Improvement and Water\Sewer Utility Bonds, Unlimited General Obligation | ||
3.00%, due 3/1/26 | 625,000 | 691,662 |
3.00%, due 3/1/27 | 840,000 | 939,998 |
3.00%, due 3/1/28 | 855,000 | 964,883 |
City of East Orange NJ, Unlimited General Obligation | ||
Series B, Insured: AGM ST AID WITHHLDG | ||
5.00%, due 7/15/24 | 375,000 | 429,050 |
44 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
City of Millville NJ, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 11/1/23 | $ 250,000 | $ 253,491 |
City of Newark NJ, Unlimited General Obligation | ||
Series C | ||
2.00%, due 10/5/21 | 1,200,000 | 1,208,753 |
3.50%, due 7/27/21 | 3,500,000 | 3,526,175 |
Series A, Insured: AGM ST AID WITHHLDG | ||
5.00%, due 10/1/23 | 1,000,000 | 1,104,522 |
Series A, Insured: AGM ST AID WITHHLDG | ||
5.00%, due 10/1/24 | 1,000,000 | 1,143,125 |
Series B, Insured: AGM SCH BD RES FD | ||
5.00%, due 10/1/24 | 1,150,000 | 1,314,594 |
Series C, Insured: AGM ST AID WITHHLDG | ||
5.00%, due 10/1/24 | 145,000 | 165,753 |
Series A, Insured: AGM ST AID WITHHLDG | ||
5.00%, due 10/1/25 | 1,400,000 | 1,649,011 |
Series B, Insured: AGM SCH BD RES FD | ||
5.00%, due 10/1/25 | 500,000 | 588,932 |
Series A, Insured: AGM ST AID WITHHLDG | ||
5.00%, due 10/1/26 | 700,000 | 846,445 |
City of Orange Township NJ, Unlimited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
4.00%, due 12/1/25 | 1,025,000 | 1,185,239 |
City of Perth Amboy NJ, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/21 | 460,000 | 463,418 |
Insured: AGM | ||
5.00%, due 7/1/22 | 615,000 | 648,470 |
Insured: AGM | ||
5.00%, due 7/1/23 | 735,000 | 807,080 |
Insured: AGM | ||
5.00%, due 7/1/24 | 760,000 | 866,029 |
Insured: AGM | ||
5.00%, due 7/1/26 | 735,000 | 891,787 |
Principal Amount | Value | |
New Jersey (continued) | ||
City of Trenton NJ, Unlimited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
2.00%, due 7/15/25 | $ 1,210,000 | $ 1,276,782 |
Insured: AGM ST AID WITHHLDG | ||
4.00%, due 7/15/24 | 875,000 | 975,744 |
City of Union City NJ, Unlimited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
0.05%, due 8/1/24 | 1,430,000 | 1,396,238 |
Insured: AGM ST AID WITHHLDG | ||
2.25%, due 8/1/25 | 1,445,000 | 1,522,959 |
County of Essex NJ, Unlimited General Obligation | ||
2.00%, due 9/3/21 | 1,455,000 | 1,463,917 |
County of Mercer NJ, Preservation Notes, Unlimited General Obligation | ||
Series A | ||
2.00%, due 6/10/21 | 4,000,000 | 4,007,641 |
Essex County Improvement Authority, North Star Academy Charter School Project, Revenue Bonds (c) | ||
1.57%, due 8/1/21 | 260,000 | 260,093 |
1.96%, due 8/1/22 | 350,000 | 350,628 |
2.37%, due 8/1/23 | 500,000 | 500,703 |
2.72%, due 8/1/24 | 500,000 | 500,960 |
3.00%, due 8/1/25 | 700,000 | 699,109 |
4.00%, due 7/15/22 | 225,000 | 232,956 |
4.00%, due 7/15/24 | 200,000 | 216,829 |
4.00%, due 7/15/26 | 385,000 | 430,928 |
Garden State Preservation Trust, Capital Appreciation, Revenue Bonds | ||
Series B, Insured: AGM | ||
(zero coupon), due 11/1/23 | 175,000 | 171,863 |
Garden State Preservation Trust, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/22 | 1,200,000 | 1,272,921 |
Series C, Insured: AGM | ||
5.25%, due 11/1/21 | 1,175,000 | 1,204,500 |
Gloucester County Improvement Authority (The), Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 7/1/24 | 1,300,000 | 1,486,654 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
Greater Egg Harbor Regional High School District, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
5.00%, due 2/1/23 | $ 700,000 | $ 758,259 |
Hamilton Township School District, Unlimited General Obligation | ||
Insured: BAM SCH BD RES FD | ||
4.00%, due 2/1/22 | 270,000 | 277,538 |
Manchester Township Board of Education, Unlimited General Obligation | ||
Insured: BAM SCH BD RES FD | ||
4.00%, due 3/1/23 | 355,000 | 378,281 |
Middle Township School District, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
3.00%, due 7/15/26 | 250,000 | 273,648 |
Morris-Union Jointure Commission, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 8/1/26 | 420,000 | 461,412 |
New Brunswick Parking Authority, Revenue Bonds | ||
Series B, Insured: MUN GOVT GTD | ||
5.00%, due 9/1/21 | 175,000 | 177,593 |
Series B, Insured: MUN GOVT GTD | ||
5.00%, due 9/1/22 | 700,000 | 742,120 |
Series B, Insured: BAM | ||
5.00%, due 9/1/24 | 900,000 | 1,032,755 |
Series B, Insured: BAM | ||
5.00%, due 9/1/25 | 900,000 | 1,067,182 |
New Jersey Economic Development Authority, Capital Appreciation, Motor Vehicle Surcharge, Revenue Bonds | ||
Insured: NATL | ||
(zero coupon), due 7/1/21 | 105,000 | 104,874 |
New Jersey Economic Development Authority, New Jersey-American Water Co., Inc., Revenue Bonds | ||
Series E | ||
0.85%, due 12/1/25 (b) | 1,550,000 | 1,541,267 |
Principal Amount | Value | |
New Jersey (continued) | ||
New Jersey Economic Development Authority, School Facilities Construction, Revenue Bonds | ||
Series C | ||
4.521%, due 6/15/21 | $ 985,000 | $ 989,000 |
Series DDD | ||
5.00%, due 6/15/21 | 960,000 | 965,198 |
Series AAA | ||
5.00%, due 6/15/21 | 1,320,000 | 1,327,147 |
5.00%, due 6/15/22 | 200,000 | 210,560 |
5.00%, due 6/15/23 | 220,000 | 241,713 |
5.00%, due 6/15/24 | 300,000 | 342,143 |
New Jersey Economic Development Authority, Cigarette Tax, Revenue Bonds | ||
5.00%, due 6/15/21 | 1,250,000 | 1,256,784 |
5.00%, due 6/15/24 | 410,000 | 428,193 |
New Jersey Economic Development Authority, North Star Academy Charter School of Newark, Inc. Project, Revenue Bonds | ||
5.00%, due 7/15/21 | 200,000 | 201,653 |
New Jersey Economic Development Authority, Facilities Construction, Revenue Bonds | ||
5.00%, due 6/15/23 | 750,000 | 824,022 |
New Jersey Economic Development Authority, Motor Vehicle Surcharge, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/23 | 2,500,000 | 2,763,461 |
Series A, Insured: BAM | ||
5.00%, due 7/1/27 | 2,525,000 | 3,156,045 |
New Jersey Economic Development Authority, New Jersey Transit Corp., Revenue Bonds | ||
Series B | ||
5.00%, due 11/1/25 | 4,035,000 | 4,805,296 |
New Jersey Economic Development Authority, State of New Jersey Motor Vehicle Surcharge, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/28 | 150,000 | 185,205 |
46 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
New Jersey Economic Development Authority, School Facility Surcharge, Revenue Bonds | ||
Series N-1, Insured: NATL | ||
5.50%, due 9/1/23 | $ 1,500,000 | $ 1,681,839 |
New Jersey Educational Facilities Authority, Stockton University, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/25 | 3,000,000 | 3,512,963 |
New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health Obligated Group, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/25 | 1,000,000 | 1,053,635 |
5.00%, due 7/1/45 (a) | 1,000,000 | 1,209,519 |
New Jersey Higher Education Student Assistance Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/24 | 1,750,000 | 2,027,319 |
New Jersey Higher Education Student Assistance Authority, Revenue Bonds, Senior Lien | ||
Series B | ||
5.00%, due 12/1/25 (b) | 250,000 | 296,627 |
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Revenue Bonds | ||
Series AA, Insured: AMBAC | ||
(zero coupon), due 12/15/24 | 3,360,000 | 3,281,518 |
Insured: BHAC-CR AMBAC | ||
(zero coupon), due 12/15/24 | 750,000 | 738,046 |
Insured: BHAC | ||
(zero coupon), due 12/15/27 | 315,000 | 293,018 |
New Jersey Transportation Trust Fund Authority, Transportation System, Revenue Bonds | ||
Series A | ||
(zero coupon), due 12/15/24 | 560,000 | 542,996 |
Series A | ||
5.00%, due 6/15/23 | 65,000 | 65,360 |
Principal Amount | Value | |
New Jersey (continued) | ||
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Transportation System, Revenue Bonds | ||
Series A | ||
(zero coupon), due 12/15/25 | $ 390,000 | $ 370,910 |
New Jersey Transportation Trust Fund Authority, Highway Reimbursement Notes, Revenue Bonds | ||
5.00%, due 6/15/21 | 1,655,000 | 1,664,173 |
5.00%, due 6/15/21 | 150,000 | 150,831 |
5.00%, due 6/15/23 | 125,000 | 137,268 |
5.00%, due 6/15/24 | 8,175,000 | 9,311,907 |
5.00%, due 6/15/25 | 360,000 | 424,024 |
5.00%, due 6/15/31 | 500,000 | 591,718 |
New Jersey Transportation Trust Fund Authority, Transportation Program Notes, Revenue Bonds | ||
Series AAA | ||
5.00%, due 6/15/21 | 500,000 | 502,707 |
Series AA | ||
5.00%, due 6/15/22 | 1,500,000 | 1,579,201 |
New Jersey Transportation Trust Fund Authority, Revenue Bonds | ||
Series B, Insured: AMBAC | ||
5.25%, due 12/15/23 | 1,190,000 | 1,343,201 |
Series B, Insured: NATL | ||
5.50%, due 12/15/21 | 50,000 | 51,612 |
Series A | ||
5.50%, due 12/15/21 | 375,000 | 387,092 |
North Brunswick Township Board of Education, Unlimited General Obligation | ||
Series A, Insured: SCH BD RES FD | ||
4.00%, due 7/15/21 | 540,000 | 544,065 |
Series A, Insured: SCH BD RES FD | ||
4.00%, due 7/15/22 | 720,000 | 752,788 |
Passaic Valley Sewerage Commission, Revenue Bonds | ||
Series J, Insured: AGM | ||
3.00%, due 12/1/23 | 1,600,000 | 1,705,008 |
Series J, Insured: AGM | ||
3.00%, due 12/1/24 | 1,800,000 | 1,955,226 |
Series H, Insured: AGM | ||
5.00%, due 12/1/23 | 2,190,000 | 2,445,764 |
Series H, Insured: AGM | ||
5.00%, due 12/1/24 | 1,510,000 | 1,746,958 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
Plainfield Board of Education, Unlimited General Obligation | ||
Insured: BAM SCH BD RES FD | ||
5.00%, due 8/1/24 | $ 1,000,000 | $ 1,141,414 |
Insured: BAM SCH BD RES FD | ||
5.00%, due 8/1/25 | 1,000,000 | 1,178,971 |
Plumsted Township School District, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
4.00%, due 7/15/21 | 405,000 | 407,463 |
Insured: AGM SCH BD RES FD | ||
4.00%, due 7/15/22 | 430,000 | 445,309 |
Insured: AGM SCH BD RES FD | ||
4.00%, due 7/15/23 | 440,000 | 472,369 |
South Jersey Transportation Authority, Revenue Bonds | ||
5.00%, due 11/1/21 | 2,500,000 | 2,557,433 |
Series A | ||
5.00%, due 11/1/26 | 500,000 | 574,872 |
Series A | ||
5.00%, due 11/1/27 | 500,000 | 572,521 |
Series A | ||
5.00%, due 11/1/28 | 750,000 | 855,258 |
Series A | ||
5.00%, due 11/1/29 | 1,200,000 | 1,362,999 |
State of New Jersey, COVID-19 General Obligation Emergency Bonds, Unlimited General Obligation | ||
4.00%, due 6/1/23 | 6,500,000 | 7,005,107 |
5.00%, due 6/1/24 | 11,500,000 | 13,134,615 |
State of New Jersey, Various Purpose, Unlimited General Obligation | ||
5.00%, due 6/1/24 | 250,000 | 285,535 |
5.00%, due 6/1/26 | 275,000 | 323,965 |
Tobacco Settlement Financing Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/21 | 500,000 | 501,774 |
Series A | ||
5.00%, due 6/1/22 | 1,250,000 | 1,313,017 |
Series A | ||
5.00%, due 6/1/23 | 1,000,000 | 1,095,395 |
Series A | ||
5.00%, due 6/1/24 | 8,250,000 | 9,386,190 |
Principal Amount | Value | |
New Jersey (continued) | ||
Township of Belleville NJ, General Improvement, Water Utility, Unlimited General Obligation (e) | ||
3.00%, due 2/1/23 | $ 740,000 | $ 774,369 |
3.00%, due 2/1/24 | 1,520,000 | 1,626,445 |
3.00%, due 2/1/25 | 1,565,000 | 1,704,718 |
3.00%, due 2/1/26 | 1,615,000 | 1,785,172 |
3.00%, due 2/1/27 | 1,665,000 | 1,862,802 |
Township of Cherry Hill NJ, Unlimited General Obligation | ||
5.00%, due 8/15/21 | 75,000 | 76,035 |
Township of Lower NJ, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 7/15/23 | 345,000 | 372,748 |
Union Township Board of Education, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 8/15/24 | 125,000 | 139,720 |
Insured: BAM | ||
4.00%, due 8/15/25 | 290,000 | 332,883 |
Insured: BAM | ||
4.00%, due 8/15/26 | 230,000 | 269,684 |
Washington Borough Board of Education, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 7/15/24 | 120,000 | 133,168 |
164,372,577 | ||
New Mexico 0.1% | ||
Albuquerque Municipal School District No. 12, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 8/1/23 | 1,165,000 | 1,290,373 |
County of Colfax, Tax Receipts, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 8/1/21 | 255,000 | 256,318 |
Insured: BAM | ||
3.00%, due 8/1/22 | 265,000 | 271,987 |
Insured: BAM | ||
3.00%, due 8/1/23 | 270,000 | 283,930 |
Insured: BAM | ||
3.00%, due 8/1/24 | 280,000 | 300,425 |
48 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Mexico (continued) | ||
Village of Los Ranchos de Albuquerque, Albuquerque Academy Project, Revenue Bonds | ||
4.00%, due 9/1/23 | $ 135,000 | $ 143,821 |
4.00%, due 9/1/24 | 100,000 | 108,964 |
4.00%, due 9/1/25 | 150,000 | 166,587 |
5.00%, due 9/1/26 | 170,000 | 200,584 |
3,022,989 | ||
New York 11.1% | ||
Albany County Airport Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 12/15/21 (b) | 250,000 | 256,917 |
Series B | ||
5.00%, due 12/15/22 (b) | 250,000 | 268,101 |
Series B | ||
5.00%, due 12/15/23 (b) | 200,000 | 222,968 |
Series A | ||
5.00%, due 12/15/24 | 540,000 | 625,547 |
Board of Cooperative Educational Services for the Sole Supervisory District, Anticipation Notes, Revenue Notes | ||
1.50%, due 6/18/21 | 7,000,000 | 7,010,922 |
Brookfield Central School District, Unlimited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
3.00%, due 6/15/22 | 310,000 | 310,987 |
Broome County Local Development Corp., United Health Services Hospitals, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 4/1/24 | 700,000 | 792,544 |
Insured: AGM | ||
5.00%, due 4/1/25 | 800,000 | 937,084 |
Build NYC Resource Corp., Manhattan College Project, Revenue Bonds | ||
5.00%, due 8/1/21 | 750,000 | 758,172 |
City of New York NY, Unlimited General Obligation | ||
Series B-1 | ||
4.00%, due 10/1/24 | 300,000 | 336,745 |
Series E | ||
5.00%, due 8/1/21 | 510,000 | 516,049 |
Series H3 | ||
5.00%, due 8/1/22 | 300,000 | 318,236 |
Principal Amount | Value | |
New York (continued) | ||
City of New York NY, Unlimited General Obligation (continued) | ||
Series E | ||
5.00%, due 8/1/25 | $ 800,000 | $ 866,185 |
City of Newburgh NY, Limited General Obligation | ||
Series A | ||
2.00%, due 7/30/21 | 4,260,000 | 4,273,635 |
City of Rochester NY, Limited General Obligation | ||
Series II | ||
3.00%, due 8/4/21 | 8,500,000 | 8,560,753 |
City of Yonkers NY, Limited General Obligation | ||
Series E, Insured: AGM | ||
5.00%, due 9/1/23 | 3,035,000 | 3,369,462 |
Series C, Insured: BAM | ||
5.00%, due 10/1/23 | 1,485,000 | 1,654,240 |
County of Nassau NY, Limited General Obligation | ||
Series A | ||
2.00%, due 12/10/21 | 18,290,000 | 18,494,892 |
Series B | ||
5.00%, due 10/1/21 | 2,300,000 | 2,345,227 |
County of Rockland NY, Various Purpose, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 10/15/22 | 1,015,000 | 1,032,371 |
County of Rockland NY, Public Improvement, Limited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 5/1/23 | 2,000,000 | 2,150,158 |
County of Suffolk NY, Anticipation Notes, Limited General Obligation | ||
Series II | ||
2.00%, due 8/19/21 | 8,500,000 | 8,542,984 |
County of Suffolk NY, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 2/1/24 | 70,000 | 76,788 |
Insured: AGM | ||
5.00%, due 2/1/22 | 430,000 | 444,664 |
Series B, Insured: AGM | ||
5.00%, due 10/1/22 | 2,045,000 | 2,176,970 |
Series C, Insured: BAM | ||
5.00%, due 2/1/23 | 495,000 | 534,749 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
County of Suffolk NY, Limited General Obligation (continued) | ||
Series A, Insured: BAM | ||
5.00%, due 4/1/24 | $ 3,075,000 | $ 3,481,531 |
County of Suffolk NY, Public Improvement, Limited General Obligation | ||
Series B, Insured: AGM | ||
5.00%, due 10/15/25 | 3,300,000 | 3,934,298 |
Series A, Insured: AGM | ||
5.00%, due 6/1/26 | 685,000 | 830,347 |
Dutchess County Local Development Corp., Marist College Project, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/21 | 265,000 | 266,935 |
Dutchess County Local Development Corp., Nuvance Health, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/21 | 1,725,000 | 1,736,811 |
Dutchess County Local Development Corp., Health Quest Systems, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/22 | 500,000 | 523,921 |
Hempstead Town Local Development Corp., Molloy College Project, Revenue Bonds | ||
5.00%, due 7/1/21 | 435,000 | 437,788 |
Long Island Power Authority, Electric System, Revenue Bonds | ||
Series C | ||
0.764%, due 3/1/23 | 1,500,000 | 1,507,754 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Series A-2S | ||
4.00%, due 2/1/22 | 1,900,000 | 1,951,732 |
Series A | ||
4.00%, due 11/15/26 | 225,000 | 266,049 |
Series B-2A | ||
5.00%, due 5/15/21 | 1,500,000 | 1,502,259 |
Series C-2 | ||
5.00%, due 9/1/21 | 1,300,000 | 1,320,040 |
Series C, Insured: AGM | ||
5.00%, due 11/15/21 | 500,000 | 512,751 |
Principal Amount | Value | |
New York (continued) | ||
Metropolitan Transportation Authority, Revenue Bonds (continued) | ||
Series D-1 | ||
5.00%, due 9/1/22 | $ 835,000 | $ 887,082 |
Series A-1 | ||
5.00%, due 2/1/23 | 950,000 | 1,026,529 |
Series A | ||
5.00%, due 11/15/25 | 1,850,000 | 2,223,387 |
Series D | ||
5.00%, due 11/15/26 | 2,500,000 | 2,664,294 |
Series A | ||
5.00%, due 11/15/26 | 1,225,000 | 1,313,859 |
Series B, Insured: AMBAC | ||
5.25%, due 11/15/24 | 7,695,000 | 9,010,376 |
Metropolitan Transportation Authority, Dedicated Tax Fund, Revenue Bonds | ||
Series A | ||
5.00%, due 3/1/22 | 6,425,000 | 6,682,414 |
Metropolitan Transportation Authority, Green Bond, Revenue Bonds | ||
Series B | ||
5.00%, due 11/15/23 | 1,245,000 | 1,391,060 |
Monroe County Industrial Development Corp., Rochester Regional Health Project, Revenue Bonds | ||
5.00%, due 12/1/23 | 700,000 | 779,264 |
5.00%, due 12/1/25 | 1,250,000 | 1,481,897 |
Monroe County Industrial Development Corp., Rochesrter Schools Modernization Project, Revenue Bonds | ||
Insured: State Aid Withholding | ||
5.00%, due 5/1/24 | 250,000 | 284,018 |
Mount Vernon City School District, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 8/15/24 | 150,000 | 171,596 |
Insured: State Aid Withholding | ||
5.00%, due 8/15/26 | 1,040,000 | 1,261,263 |
Nassau County Local Economic Assistance Corp., Winthrop-University Association Project, Revenue Bonds | ||
5.00%, due 7/1/22 | 1,000,000 | 1,053,822 |
50 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
New York City Housing Development Corp., Green Bond, Revenue Bonds | ||
1.70%, due 7/1/21 | $ 85,000 | $ 85,110 |
New York City Industrial Development Agency, Revenue Bonds | ||
Insured: NATL | ||
2.26%, due 3/1/24 (f) | 500,000 | 514,388 |
New York City Industrial Development Agency, Queens Baseball Stadium Project, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 1/1/24 | 1,250,000 | 1,405,401 |
Insured: AGM | ||
5.00%, due 1/1/25 | 1,250,000 | 1,457,598 |
Insured: AGM | ||
5.00%, due 1/1/26 | 1,000,000 | 1,202,564 |
Insured: AGM | ||
5.00%, due 1/1/27 | 1,500,000 | 1,853,829 |
New York State Dormitory Authority, Interagency Coumcil Pooled Loan Program, Revenue Bonds | ||
4.00%, due 7/1/21 | 255,000 | 256,508 |
4.00%, due 7/1/22 | 400,000 | 416,575 |
4.00%, due 7/1/23 | 430,000 | 460,821 |
New York State Dormitory Authority, Northwell Health, Inc., Revenue Bonds | ||
5.00%, due 5/1/21 | 320,000 | 320,000 |
New York State Dormitory Authority, St Joseph's College, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/21 | 385,000 | 387,437 |
Series A | ||
5.00%, due 7/1/22 | 420,000 | 439,344 |
Series A | ||
5.00%, due 7/1/23 | 880,000 | 953,778 |
New York State Dormitory Authority, Unrefunded School District Revenue Financing Program, Revenue Bonds | ||
Insured: AGM ST AID WITHHLDG | ||
5.00%, due 10/1/22 | 140,000 | 142,794 |
New York State Dormitory Authority, Sales Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 3/15/23 | 1,000,000 | 1,090,630 |
Principal Amount | Value | |
New York (continued) | ||
New York State Dormitory Authority, Revenue Bonds | ||
Series A, Insured: State Aid Withholding | ||
5.00%, due 10/1/23 | $ 4,150,000 | $ 4,617,640 |
New York State Dormitory Authority, Frodham University, Revenue Bonds | ||
5.00%, due 7/1/24 | 665,000 | 757,550 |
New York State Dormitory Authority, Montefiore Obligated Group, Revenue Bonds | ||
5.00%, due 8/1/25 | 1,535,000 | 1,797,780 |
New York State Dormitory Authority, School District Revenue Financing Program, Revenue Bonds | ||
Series C, Insured: State Aid Withholding | ||
5.00%, due 10/1/26 | 1,000,000 | 1,065,636 |
New York State Dormitory Authority, General Purpose, Revenue Bonds | ||
Series A | ||
5.00%, due 12/15/26 | 750,000 | 805,664 |
New York State Dormitory Authority, Memorial Sloan-Kettering Cancer Center, Revenue Bonds | ||
5.00%, due 7/1/35 | 200,000 | 206,488 |
New York State Energy Research & Development Authority, Green Bond, Revenue Bonds | ||
Series A | ||
3.745%, due 4/1/24 | 1,100,000 | 1,164,521 |
Series A | ||
3.845%, due 4/1/25 | 1,100,000 | 1,171,221 |
New York State Environmental Facilities Corp., Green Bond, Revenue Bonds | ||
5.00%, due 3/15/26 | 110,000 | 129,679 |
New York State Housing Finance Agency, Green Bond, Revenue Bonds | ||
Insured: SONYMA | ||
2.35%, due 11/1/21 | 1,500,000 | 1,514,879 |
New York State Thruway Authority, Revenue Bonds | ||
Series L | ||
5.00%, due 1/1/22 | 115,000 | 118,653 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
New York Transportation Development Corp., Delta Air Lines, Inc. Laguardia Airport Terminals C&D Redevelopment Project, Revenue Bonds (b) | ||
5.00%, due 1/1/22 | $ 5,000,000 | $ 5,143,691 |
5.00%, due 1/1/23 | 5,335,000 | 5,716,091 |
New York Transportation Development Corp., John F. kennedy International Airport Project, Revenue Bonds | ||
5.00%, due 12/1/23 (b) | 1,700,000 | 1,896,677 |
5.00%, due 12/1/23 | 2,000,000 | 2,237,959 |
5.00%, due 12/1/24 (b) | 1,625,000 | 1,866,289 |
5.00%, due 12/1/25 (b) | 2,710,000 | 3,206,062 |
5.00%, due 12/1/25 | 1,600,000 | 1,910,332 |
Niagara Area Development Corp., Niagara University Project, Revenue Bonds | ||
2.555%, due 5/1/21 | 525,000 | 525,000 |
Niagara Falls City School District, Certificate of Participation | ||
Insured: AGM | ||
4.00%, due 6/15/26 | 200,000 | 219,330 |
Insured: AGM | ||
5.00%, due 6/15/23 | 1,170,000 | 1,280,915 |
Insured: AGM | ||
5.00%, due 6/15/24 | 1,100,000 | 1,247,851 |
Insured: AGM | ||
5.00%, due 6/15/25 | 1,000,000 | 1,135,075 |
Niagara Falls City School District, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 6/15/25 | 1,375,000 | 1,602,454 |
Niagara Frontier Transportation Authority, Buffalo Niagara International Airport, Revenue Bonds | ||
Series A | ||
5.00%, due 4/1/23 (b) | 2,195,000 | 2,381,917 |
Niagara Frontier Transportation Authority, Revenue Bonds | ||
5.00%, due 4/1/23 (b) | 825,000 | 895,254 |
Principal Amount | Value | |
New York (continued) | ||
Onondaga Civic Development Corp., Upstate Properties Development, Inc. Project, Revenue Bonds | ||
Insured: BAM | ||
0.915%, due 12/1/21 | $ 500,000 | $ 501,723 |
Insured: BAM | ||
1.015%, due 12/1/22 | 655,000 | 660,810 |
Insured: BAM | ||
1.078%, due 12/1/23 | 690,000 | 698,224 |
Insured: BAM | ||
1.167%, due 12/1/24 | 700,000 | 709,601 |
Onondaga County Resource Recovery Agency, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 5/1/21 (b) | 155,000 | 155,000 |
Port Authority of New York & New Jersey, Revenue Bonds | ||
4.00%, due 12/1/26 | 220,000 | 228,740 |
5.00%, due 10/15/21 (b) | 375,000 | 383,059 |
Series 188 | ||
5.00%, due 5/1/24 (b) | 665,000 | 755,914 |
Series 178 | ||
5.00%, due 12/1/25 (b) | 265,000 | 295,731 |
Series 179 | ||
5.00%, due 12/1/25 | 190,000 | 212,815 |
5.00%, due 12/15/25 | 150,000 | 171,765 |
5.00%, due 10/15/32 | 5,000,000 | 5,106,768 |
St Lawrence County Industrial Development Agency, Clarkson University Project, Revenue Bonds | ||
4.00%, due 9/1/21 | 260,000 | 262,384 |
Town of Oyster Bay NY, Limited General Obligation | ||
Insured: BAM | ||
2.00%, due 8/15/21 | 1,755,000 | 1,763,166 |
2.00%, due 11/1/21 | 835,000 | 841,889 |
Insured: AGM | ||
3.25%, due 8/1/22 | 50,000 | 51,757 |
Insured: BAM | ||
4.00%, due 2/15/22 | 110,000 | 113,083 |
4.00%, due 11/1/22 | 945,000 | 993,108 |
Insured: BAM | ||
4.00%, due 11/1/23 | 365,000 | 398,525 |
Insured: BAM | ||
4.00%, due 2/15/24 | 115,000 | 126,600 |
4.00%, due 3/1/24 | 850,000 | 936,259 |
Insured: BAM | ||
4.00%, due 11/1/24 | 930,000 | 1,044,943 |
52 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
Town of Oyster Bay NY, Limited General Obligation (continued) | ||
Insured: BAM | ||
4.00%, due 11/1/25 | $ 1,300,000 | $ 1,497,655 |
Insured: AGM | ||
4.00%, due 3/1/26 | 925,000 | 1,073,195 |
Town of Poughkeepsie, Library Purpose, Limited General Obligation | ||
Insured: BAM | ||
3.125%, due 12/15/24 | 100,000 | 104,569 |
Triborough Bridge & Tunnel Authority, Revenue Bonds, Senior Lien | ||
Series A-2 | ||
(zero coupon), due 5/15/45 (a) | 8,500,000 | 9,195,439 |
Utica School District, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
1.75%, due 6/24/21 | 8,000,000 | 8,018,576 |
West Islip Union Free School District, Limited General Obligation | ||
Insured: State Aid Withholding | ||
1.75%, due 6/21/21 | 11,000,000 | 11,020,787 |
Whitesboro Central School District, Unlimited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
4.00%, due 6/15/25 | 2,325,000 | 2,645,203 |
220,949,100 | ||
North Carolina 1.0% | ||
City of Charlotte NC, Airport Special Facilities, Revenue Bonds | ||
4.00%, due 7/1/21 (b) | 550,000 | 553,332 |
County of Cabarrus NC, Installment Financing Program, Revenue Bonds | ||
5.00%, due 6/1/22 | 150,000 | 157,912 |
County of Guilford NC, Unlimited General Obligation | ||
4.00%, due 3/1/26 | 200,000 | 234,225 |
County of New Hanover NC, New Hanover Regional Medical Center, Revenue Bonds | ||
5.00%, due 10/1/24 | 690,000 | 703,280 |
Principal Amount | Value | |
North Carolina (continued) | ||
North Carolina Capital Facilities Finance Agency, High Point University, Revenue Bonds | ||
4.00%, due 5/1/23 | $ 250,000 | $ 268,406 |
4.00%, due 5/1/24 | 190,000 | 209,732 |
5.00%, due 5/1/25 | 240,000 | 280,954 |
5.00%, due 5/1/26 | 275,000 | 331,518 |
5.00%, due 5/1/27 | 395,000 | 487,503 |
5.00%, due 5/1/28 | 400,000 | 503,648 |
North Carolina Turnpike Authority, Revenue Bonds, Senior Lien | ||
5.00%, due 1/1/22 | 350,000 | 360,833 |
North Carolina Turnpike Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/23 | 250,000 | 274,460 |
5.00%, due 7/1/26 | 100,000 | 100,771 |
North Carolina Turnpike Authority, Triangle Expressway System, Revenue Bonds, Senior Lien | ||
5.00%, due 2/1/24 | 14,000,000 | 15,779,687 |
Winston-Salem State University, Student Housing Project, Revenue Bonds | ||
Insured: BAM TCRS | ||
5.00%, due 6/1/24 | 500,000 | 568,430 |
20,814,691 | ||
North Dakota 0.3% | ||
County of Ward ND, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 4/1/22 | 5,300,000 | 5,535,225 |
Ohio 1.5% | ||
Akron Bath Copley Joint Township Hospital District, Summa Health System Obligated Group, Revenue Bonds | ||
5.00%, due 11/15/25 | 250,000 | 293,803 |
5.00%, due 11/15/26 | 400,000 | 482,281 |
Bethel Local School District, School Facilities, Certificate Participation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 120,000 | 126,893 |
Insured: BAM | ||
4.00%, due 12/1/23 | 175,000 | 190,349 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Ohio (continued) | ||
Bethel Local School District, School Facilities, Certificate Participation (continued) | ||
Insured: BAM | ||
4.00%, due 12/1/24 | $ 250,000 | $ 278,888 |
Bethel Local School District, School Improvement, Unlimited General Obligation | ||
Series B, Insured: School District Credit Program | ��� | |
4.00%, due 11/1/51 | 80,000 | 81,501 |
Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Senior Lien | ||
Series A-1 | ||
2.00%, due 6/1/27 | 5,370,000 | 5,517,712 |
City of Cleveland OH, Airport System, Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/22 (b) | 250,000 | 257,333 |
Series B | ||
5.00%, due 1/1/23 (b) | 400,000 | 429,272 |
Series C | ||
5.00%, due 1/1/24 | 430,000 | 481,507 |
City of Dayton OH, Airport, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 12/1/25 (b) | 585,000 | 612,456 |
City of Lorain OH, Limited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/21 | 225,000 | 229,634 |
Series A, Insured: BAM | ||
4.00%, due 12/1/23 | 300,000 | 326,312 |
City of Middleburg Heights OH, Southwest General Health Center Project, Revenue Bonds | ||
1.899%, due 8/1/21 | 300,000 | 300,796 |
1.949%, due 8/1/22 | 200,000 | 202,852 |
4.00%, due 8/1/21 | 145,000 | 146,302 |
4.00%, due 8/1/22 | 160,000 | 167,351 |
4.00%, due 8/1/23 | 125,000 | 134,778 |
4.00%, due 8/1/24 | 180,000 | 199,438 |
4.00%, due 8/1/25 | 150,000 | 170,320 |
City of Sharonville OH, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 12/1/21 | 175,000 | 178,481 |
Principal Amount | Value | |
Ohio (continued) | ||
City of Sharonville OH, Revenue Bonds (continued) | ||
Insured: BAM | ||
4.00%, due 12/1/22 | $ 300,000 | $ 316,256 |
Insured: BAM | ||
4.00%, due 12/1/23 | 580,000 | 629,314 |
Insured: BAM | ||
4.00%, due 12/1/24 | 745,000 | 829,686 |
Insured: BAM | ||
4.00%, due 12/1/25 | 715,000 | 814,599 |
Cleveland Municipal School District, Unlimited General Obligation | ||
Series A, Insured: School District Credit Program | ||
5.00%, due 12/1/21 | 1,945,000 | 1,998,621 |
Cleveland-Cuyahoga County Port Authority, Cleveland Museum of Natural History Project, Revenue Bonds | ||
5.00%, due 7/1/25 | 125,000 | 146,878 |
5.00%, due 7/1/26 | 125,000 | 150,820 |
5.00%, due 7/1/27 | 125,000 | 154,127 |
5.00%, due 7/1/28 | 125,000 | 156,947 |
Cloverleaf Local School District, Certificate of Participation | ||
Insured: BAM | ||
3.00%, due 12/1/22 (e) | 355,000 | 370,233 |
Insured: BAM | ||
3.00%, due 12/1/23 (e) | 365,000 | 389,906 |
Insured: BAM | ||
3.00%, due 12/1/24 (e) | 265,000 | 289,083 |
Insured: BAM | ||
3.00%, due 12/1/25 (e) | 235,000 | 260,446 |
Insured: BAM | ||
3.75%, due 3/1/34 | 60,000 | 61,750 |
Insured: BAM | ||
4.00%, due 12/1/26 (e) | 275,000 | 323,756 |
Conotton Valley Union Local School District, School Facilities Project, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 12/1/21 | 60,000 | 61,626 |
Conotton Valley Union Local School District, School Facilities Project, Certificates of Participation | ||
Insured: AGM | ||
5.00%, due 12/1/26 | 300,000 | 357,440 |
54 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Ohio (continued) | ||
County of Hamilton OH, Limited General Obligation | ||
Series A | ||
5.00%, due 12/1/21 | $ 500,000 | $ 513,932 |
County of Lucas OH, Promedica Healthcare, Revenue Bonds | ||
5.00%, due 11/15/26 | 70,000 | 71,788 |
County of Seneca OH, Joint Justice Centre Project, Revenue Bonds | ||
Insured: BAM | ||
2.00%, due 12/1/21 | 100,000 | 101,034 |
Dayton Metro Library, Unlimited General Obligation | ||
Series A | ||
5.00%, due 12/1/28 | 100,000 | 102,828 |
Great Oaks Career Campuses Board of Education, Certificate of Participation | ||
4.00%, due 12/1/21 | 140,000 | 143,138 |
Hillsdale Local School District, School Facilities Project, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 1,200,000 | 1,270,298 |
Insured: BAM | ||
4.00%, due 12/1/23 | 675,000 | 733,840 |
Lancaster Port Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 8/1/22 | 235,000 | 248,833 |
Series A | ||
5.00%, due 8/1/49 (a) | 5,500,000 | 6,369,492 |
Northeast Ohio Regional Sewer District, Revenue Bonds | ||
5.00%, due 11/15/21 | 75,000 | 76,957 |
Ohio Higher Educational Facility Commission, Revenue Bonds | ||
5.00%, due 10/1/22 | 385,000 | 409,902 |
State of Ohio, Unlimited General Obligation | ||
Series B | ||
4.25%, due 6/15/31 | 2,000,000 | 2,009,494 |
State of Ohio, Premier Health Partners Obligated Group, Revenue Bonds | ||
5.00%, due 11/15/24 | 135,000 | 155,234 |
Principal Amount | Value | |
Ohio (continued) | ||
State of Ohio, Premier Health Partners Obligated Group, Revenue Bonds (continued) | ||
5.00%, due 11/15/25 | $ 140,000 | $ 165,689 |
5.00%, due 11/15/26 | 140,000 | 170,054 |
30,662,260 | ||
Oklahoma 0.1% | ||
Tulsa Airports Improvement Trust, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 6/1/23 (b) | 1,285,000 | 1,407,774 |
Oregon 0.3% | ||
Columbia County School District No. 502, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
(zero coupon), due 6/15/26 | 565,000 | 657,177 |
Salem-Keizer School District No. 24J, Limited General Obligation | ||
(zero coupon), due 6/15/23 | 1,700,000 | 1,687,601 |
(zero coupon), due 6/15/24 | 1,785,000 | 1,756,708 |
(zero coupon), due 6/15/25 | 1,830,000 | 1,777,032 |
5,878,518 | ||
Pennsylvania 4.1% | ||
Albert Gallatin Area School District, Limited General Obligation | ||
Series A, Insured: AGM ST AID WITHHLDG | ||
4.00%, due 9/1/21 | 400,000 | 404,697 |
Series A, Insured: AGM ST AID WITHHLDG | ||
4.00%, due 9/1/22 | 900,000 | 942,893 |
Series A, Insured: AGM ST AID WITHHLDG | ||
4.00%, due 9/1/24 | 730,000 | 809,303 |
Series A, Insured: AGM ST AID WITHHLDG | ||
4.00%, due 9/1/25 | 1,130,000 | 1,282,972 |
Aliquippa Municipal Water Authority, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 11/15/21 | 75,000 | 76,519 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
Allegheny County Hospital Development Authority, Universirty of Pittsbrugh Medical Centre, Revenue Bonds | ||
5.00%, due 7/15/21 | $ 325,000 | $ 328,139 |
Beaver County Hospital Authority, Heritage Valley Health System, Inc., Revenue Bonds | ||
5.00%, due 5/15/22 | 725,000 | 726,067 |
Bellwood-Antis School District, Limited General Obligation | ||
Series AA, Insured: BAM | ||
3.00%, due 6/1/23 | 285,000 | 300,764 |
Series A, Insured: BAM | ||
3.00%, due 6/1/24 | 465,000 | 501,784 |
Series AA, Insured: BAM | ||
3.00%, due 6/1/24 | 290,000 | 312,940 |
Bethlehem Area School District, Limited General Obligation | ||
Series A, Insured: AGM ST AID WITHHLDG | ||
5.00%, due 2/1/25 | 150,000 | 174,803 |
Borough of Quakertown PA, Unlimited General Obligation | ||
Insured: AGM | ||
2.00%, due 2/1/22 | 255,000 | 258,247 |
Insured: AGM | ||
4.00%, due 2/1/23 | 275,000 | 292,412 |
Insured: AGM | ||
4.00%, due 2/1/24 | 305,000 | 334,576 |
Brownsville Area School District, Limited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
4.00%, due 11/15/21 | 450,000 | 458,990 |
Insured: AGM ST AID WITHHLDG | ||
4.00%, due 11/15/22 | 375,000 | 394,927 |
Butler Area Sewer Authority, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/22 | 120,000 | 126,603 |
Insured: BAM | ||
5.00%, due 7/1/23 | 335,000 | 368,617 |
Insured: BAM | ||
5.00%, due 7/1/24 | 355,000 | 405,850 |
Insured: BAM | ||
5.00%, due 7/1/25 | 360,000 | 425,608 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
City of Allentown PA, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 10/1/22 | $ 175,000 | $ 183,864 |
Insured: BAM | ||
4.00%, due 10/1/23 | 410,000 | 444,612 |
Insured: BAM | ||
4.00%, due 10/1/24 | 675,000 | 753,046 |
Insured: BAM | ||
4.00%, due 10/1/25 | 245,000 | 280,177 |
City of Philadelphia PA, Unlimited General Obligation | ||
4.875%, due 8/1/21 | 500,000 | 501,759 |
5.00%, due 8/1/21 | 3,000,000 | 3,034,913 |
Series A | ||
5.00%, due 8/1/21 | 250,000 | 252,909 |
City of Philadelphia PA, Airport, Revenue Bonds (b) | ||
Series B | ||
5.00%, due 7/1/22 | 1,920,000 | 2,026,108 |
Series B | ||
5.00%, due 7/1/23 | 2,000,000 | 2,198,416 |
City of Pittsburgh PA, Unlimited General Obligation | ||
Series A | ||
5.00%, due 9/1/22 | 2,060,000 | 2,189,349 |
City of Pittston PA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
0.74%, due 11/15/21 | 100,000 | 100,286 |
Series A, Insured: BAM | ||
1.00%, due 11/15/22 | 125,000 | 126,508 |
Series A, Insured: BAM | ||
4.00%, due 11/15/23 | 175,000 | 189,273 |
Series A, Insured: BAM | ||
4.00%, due 11/15/24 | 265,000 | 292,851 |
Series A, Insured: BAM | ||
4.00%, due 11/15/25 | 275,000 | 310,000 |
City of Reading PA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 11/1/24 | 1,665,000 | 1,897,290 |
City of Williamsport PA, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/25 | 500,000 | 587,962 |
56 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
Commonwealth of Pennsylvania, Certificate of Participation | ||
Series A | ||
5.00%, due 7/1/21 | $ 350,000 | $ 352,510 |
Insured: AGM | ||
5.00%, due 11/1/22 | 1,015,000 | 1,083,108 |
Corry Area School District, Unlimited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
3.00%, due 12/15/21 | 170,000 | 172,887 |
Council Rock School District, Unlimited General Obligation | ||
Series A, Insured: State Aid Withholding | ||
5.00%, due 8/1/21 | 130,000 | 131,532 |
County of Lawrence PA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 5/15/24 | 545,000 | 619,320 |
Delaware River Port Authority, Port District Project, Revenue Bonds | ||
5.00%, due 1/1/22 | 100,000 | 102,630 |
Derry Township Municipal Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 12/15/23 | 350,000 | 383,523 |
Series A | ||
4.00%, due 12/15/24 | 415,000 | 468,148 |
Elizabeth Forward School District, Unlimited General Obligation | ||
Series B, Insured: NATL ST AID WITHHLDG | ||
(zero coupon), due 9/1/21 | 2,210,000 | 2,207,991 |
Forest City Regional School District, Limited General Obligation | ||
Insured: BAM | ||
0.37%, due 7/1/21 | 160,000 | 160,043 |
Insured: BAM | ||
4.00%, due 7/1/23 | 520,000 | 561,008 |
Insured: BAM | ||
4.00%, due 7/1/24 | 545,000 | 606,170 |
Forest Hills School District, Limited General Obligation (e) | ||
Insured: BAM | ||
5.00%, due 8/15/24 | 275,000 | 315,600 |
Insured: BAM | ||
5.00%, due 8/15/25 | 285,000 | 338,084 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Forest Hills School District, Limited General Obligation (e) (continued) | ||
Insured: BAM | ||
5.00%, due 8/15/26 | $ 295,000 | $ 360,223 |
Lancaster Higher Education Authority, Harrisburg Area Community College Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 10/1/24 | 465,000 | 536,829 |
Lancaster School District, Limited General Obligation | ||
Series B, Insured: AGM ST AID WITHHLDG | ||
4.00%, due 6/1/22 | 1,060,000 | 1,102,177 |
Laurel Highlands School District, Limited General Obligation | ||
Insured: BAM | ||
3.00%, due 2/1/22 | 100,000 | 101,773 |
Insured: BAM | ||
4.00%, due 2/1/23 | 300,000 | 316,944 |
Insured: BAM | ||
4.00%, due 2/1/24 | 315,000 | 343,286 |
Insured: BAM | ||
4.00%, due 2/1/25 | 345,000 | 385,604 |
Lycoming County Authority, Pennsylvania College of Technology Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/23 | 675,000 | 742,735 |
Mckeesport Area School District, Capital Appreciation, Unlimited General Obligation | ||
Series C, Insured: AMBAC ST AID WITHHLDG | ||
(zero coupon), due 10/1/28 | 145,000 | 125,612 |
Mount Union Area School District, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 8/1/22 | 875,000 | 912,967 |
Insured: BAM | ||
4.00%, due 8/1/23 | 1,175,000 | 1,268,012 |
Insured: BAM | ||
4.00%, due 8/1/24 | 915,000 | 1,016,308 |
Municipality of Norristown PA, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
4.00%, due 11/1/22 | 460,000 | 483,261 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
Municipality of Norristown PA, Unlimited General Obligation (continued) | ||
Series B, Insured: AGM | ||
4.00%, due 11/1/23 | $ 480,000 | $ 522,708 |
Norwin School District, Limited General Obligation (e) | ||
Insured: BAM | ||
5.00%, due 11/15/22 | 165,000 | 176,559 |
Insured: BAM | ||
5.00%, due 11/15/23 | 175,000 | 195,120 |
Insured: BAM | ||
5.00%, due 11/15/25 | 190,000 | 226,886 |
Octorara Area School District, Limited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
4.00%, due 4/1/22 | 350,000 | 361,737 |
Pennsylvania Economic Development Financing Authority, PPL Electric Utilities Corp., Revenue Bonds | ||
0.40%, due 10/1/23 | 5,000,000 | 5,004,732 |
Pennsylvania Economic Development Financing Authority, Water & Wastewater, Revenue Bonds | ||
3.00%, due 1/1/22 | 360,000 | 364,638 |
3.00%, due 1/1/23 | 745,000 | 771,065 |
Pennsylvania Higher Educational Facilities Authority, Drexel University, Revenue Bonds | ||
5.00%, due 5/1/24 | 325,000 | 367,353 |
Philadelphia Gas Works Co., Revenue Bonds | ||
5.00%, due 10/1/21 | 1,060,000 | 1,080,711 |
5.00%, due 8/1/22 | 150,000 | 158,846 |
5.00%, due 10/1/24 | 1,000,000 | 1,147,867 |
Philadelphia Municipal Authority, Revenue Bonds | ||
Series B, Insured: AGM | ||
5.00%, due 1/15/23 | 825,000 | 890,003 |
Pittsburgh School District, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
3.00%, due 9/1/21 | 75,000 | 75,692 |
Pittsburgh School District, Limited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
4.00%, due 9/1/26 | 285,000 | 309,105 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Pittsburgh Water & Sewer Authority, Revenue Bonds, First Lien | ||
Series A, Insured: AGM | ||
5.00%, due 9/1/25 | $ 1,575,000 | $ 1,742,736 |
Pottstown School District, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 6/1/22 | 330,000 | 341,352 |
Insured: BAM | ||
4.00%, due 6/1/23 | 375,000 | 400,823 |
Insured: BAM | ||
4.00%, due 6/1/24 | 650,000 | 713,915 |
School District of Philadelphia (The), Revenue Notes | ||
Series A | ||
4.00%, due 6/30/21 | 6,195,000 | 6,233,135 |
School District of Philadelphia (The), Limited General Obligation | ||
Series F, Insured: BAM-TCRS ST AID WITHHLDG | ||
5.00%, due 9/1/25 | 500,000 | 588,895 |
Series A, Insured: State Aid Withholding | ||
5.00%, due 9/1/26 | 550,000 | 660,818 |
School District of Philadelphia (The), Unlimited General Obligation | ||
Series D, Insured: AGM ST AID WITHHLDG | ||
5.50%, due 6/1/21 | 700,000 | 702,763 |
Shikellamy School District, Limited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 9/1/25 | 1,015,000 | 1,164,060 |
Somerset Area School District, Limited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
2.00%, due 2/15/22 | 425,000 | 430,327 |
Sports & Exhibition Authority of Pittsburgh and Allegheny County, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 2/1/22 | 1,120,000 | 1,151,438 |
State Public School Building Authority, Crawford County Career and Technical Center, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 3/1/22 | 375,000 | 386,328 |
58 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
State Public School Building Authority, Crawford County Career and Technical Center, Revenue Bonds (continued) | ||
Insured: BAM | ||
4.00%, due 3/1/23 | $ 395,000 | $ 420,232 |
Insured: BAM | ||
4.00%, due 3/1/24 | 405,000 | 443,338 |
Insured: BAM | ||
4.00%, due 3/1/25 | 150,000 | 168,221 |
Insured: BAM | ||
4.00%, due 3/1/26 | 185,000 | 211,415 |
State Public School Building Authority, Central Montgomery County Area Vocational Technical School, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 5/15/22 | 1,000,000 | 1,002,885 |
State Public School Building Authority, School District of Philadelphia (The), Revenue Bonds | ||
Insured: AGM ST AID WITHHLDG | ||
5.00%, due 6/1/22 | 500,000 | 525,536 |
State Public School Building Authority, Northampton County Area Community College Foundation, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 3/1/23 | 520,000 | 563,349 |
Insured: BAM | ||
5.00%, due 3/1/24 | 560,000 | 629,678 |
State Public School Building Authority, Harrisburg School District, Revenue Bonds | ||
Insured: AGM ST AID WITHHLDG | ||
5.00%, due 12/1/23 | 300,000 | 336,635 |
Insured: AGM ST AID WITHHLDG | ||
5.00%, due 12/1/23 | 1,700,000 | 1,881,414 |
State Public School Building Authority, Community College of Allegheny County, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/15/24 | 430,000 | 492,717 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
State Public School Building Authority, School District of Philadelphia, Revenue Bonds | ||
Insured: State Aid Withholding | ||
5.00%, due 4/1/32 | $ 100,000 | $ 104,457 |
Township of Elizabeth, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
3.00%, due 12/15/21 | 100,000 | 101,667 |
Unity Township Municipal Authority (The), Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 805,000 | 900,558 |
Waverly Township Municipal Authority, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 2/15/22 | 780,000 | 802,605 |
Insured: BAM | ||
4.00%, due 2/15/26 | 415,000 | 467,594 |
West Cornwall Township Municipal Authority, Lebanon Valley Brethren Home Project, Revenue Bonds | ||
4.00%, due 11/15/22 | 140,000 | 146,385 |
4.00%, due 11/15/24 | 110,000 | 120,696 |
4.00%, due 11/15/25 | 115,000 | 128,564 |
4.00%, due 11/15/26 | 120,000 | 136,274 |
Westmoreland County Industrial Development Authority, Excela Health Project, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/22 | 300,000 | 310,564 |
Series A | ||
4.00%, due 7/1/23 | 350,000 | 372,516 |
Series A | ||
4.00%, due 7/1/24 | 350,000 | 381,773 |
Wilkinsburg-Penn Joint Water Authority (The), Green Bond, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 9/15/24 | 330,000 | 367,723 |
Insured: BAM | ||
4.00%, due 9/15/25 | 390,000 | 444,800 |
Insured: BAM | ||
4.00%, due 9/15/27 | 650,000 | 769,265 |
York City Sewer Authority, Revenue Bonds | ||
Insured: AGM MUN GOVT GTD | ||
5.00%, due 12/1/26 | 405,000 | 495,693 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
York County School of Technology Authority, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 2/15/24 | $ 2,590,000 | $ 2,917,458 |
81,307,943 | ||
Puerto Rico 0.1% | ||
Puerto Rico Electric Power Authority, Revenue Bonds | ||
Series PP, Insured: NATL-RE | ||
5.00%, due 7/1/22 | 250,000 | 253,615 |
Series SS, Insured: NATL-RE | ||
5.00%, due 7/1/22 | 250,000 | 253,615 |
Puerto Rico Municipal Finance Agency, Revenue Bonds | ||
Series C, Insured: AGC | ||
5.25%, due 8/1/21 | 1,500,000 | 1,516,022 |
2,023,252 | ||
Rhode Island 0.4% | ||
Providence Public Building Authority, Capital Improvement Projects, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 9/15/23 | 1,000,000 | 1,077,788 |
Providence Redevelopment Agency, Public Safety Building Project, Revenue Bonds | ||
Series A | ||
5.00%, due 4/1/22 | 250,000 | 259,808 |
Rhode Island Health and Educational Building Corp., Rhode Island School of Design, Revenue Bonds | ||
0.915%, due 8/15/22 | 120,000 | 120,856 |
1.067%, due 8/15/23 | 150,000 | 151,956 |
1.313%, due 8/15/24 | 375,000 | 382,360 |
1.503%, due 8/15/25 | 915,000 | 933,745 |
Rhode Island Health and Educational Building Corp., Lifespan Obligated Group, Revenue Bonds | ||
5.00%, due 5/15/25 | 1,000,000 | 1,159,957 |
Rhode Island Student Loan Authority, Revenue Bonds, Senior Lien (b) | ||
Series A | ||
5.00%, due 12/1/24 | 300,000 | 343,973 |
Series A | ||
5.00%, due 12/1/25 | 875,000 | 1,029,147 |
Principal Amount | Value | |
Rhode Island (continued) | ||
Rhode Island Student Loan Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/25 (b) | $ 1,000,000 | $ 1,176,168 |
Rhode Island Turnpike & Bridge Authority, Revenue Bonds | ||
Series 1 | ||
2.124%, due 12/1/21 | 485,000 | 489,727 |
7,125,485 | ||
South Carolina 0.4% | ||
County of Hampton S C, Unlimited General Obligation | ||
Insured: AGM ST AID WITHHLDG | ||
3.00%, due 9/1/21 | 150,000 | 151,324 |
Greenville County School District, Building Equity Sooner, Revenue Bonds | ||
5.00%, due 12/1/22 | 130,000 | 140,087 |
South Carolina Ports Authority, Revenue Bonds | ||
5.00%, due 7/1/29 | 325,000 | 377,238 |
South Carolina Public Service Authority, Revenue Bonds | ||
Series E | ||
4.322%, due 12/1/27 | 2,034,000 | 2,375,200 |
Series D | ||
5.00%, due 12/1/25 | 725,000 | 762,754 |
Williamsburg County Public Facilities Corp., Williamsburg County Project, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 6/1/22 | 460,000 | 478,303 |
Insured: BAM | ||
4.00%, due 6/1/23 | 500,000 | 537,988 |
Insured: BAM | ||
4.00%, due 6/1/24 | 985,000 | 1,092,986 |
Insured: BAM | ||
4.00%, due 6/1/25 | 1,025,000 | 1,165,942 |
7,081,822 | ||
South Dakota 0.0% ‡ | ||
South Dakota Health & Educational Facilities Authority, Monument Health, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/24 | 350,000 | 403,509 |
60 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Tennessee 0.4% | ||
County of Campbell TN, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 6/1/21 | $ 320,000 | $ 321,168 |
County of Montgomery TN, Unlimited General Obligation | ||
Series A | ||
5.00%, due 6/1/22 | 280,000 | 294,737 |
Knox County Health Educational & Housing Facility Board, University Health System, Inc., Revenue Bonds | ||
5.00%, due 9/1/28 | 1,450,000 | 1,722,958 |
Memphis-Shelby County Airport Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/25 | 1,290,000 | 1,299,731 |
5.00%, due 7/1/25 | 250,000 | 294,770 |
5.00%, due 7/1/26 | 155,000 | 187,365 |
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Volunteer Healthcare Systems, Inc., Revenue Bonds | ||
(zero coupon), due 6/1/21 | 250,000 | 249,976 |
Metropolitan Government of Nashville & Davidson County TN Electric, Electric Systems, Revenue Bonds | ||
Series B | ||
4.50%, due 5/15/22 | 250,000 | 250,338 |
Tennessee Energy Acquisition Corp., Revenue Bonds | ||
Series A | ||
4.00%, due 5/1/48 | 2,625,000 | 2,802,624 |
Series C | ||
5.00%, due 2/1/22 | 335,000 | 346,579 |
7,770,246 | ||
Texas 9.7% | ||
Aledo Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
(zero coupon), due 2/15/26 | 200,000 | 190,046 |
Allen Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
5.00%, due 2/15/24 | 1,000,000 | 1,133,586 |
Principal Amount | Value | |
Texas (continued) | ||
Allen Independent School District, Unlimited General Obligation (continued) | ||
Insured: PSF | ||
5.00%, due 2/15/26 | $ 135,000 | $ 163,663 |
Alvin Independent School District, Unlimited General Obligation | ||
Series A, Insured: PSF | ||
5.00%, due 2/15/24 | 90,000 | 101,834 |
Arlington Higher Education Finance Corp., Uplift Education Project, Revenue Bonds | ||
Series A, Insured: PSF | ||
3.00%, due 12/1/26 | 705,000 | 791,633 |
Series A, Insured: PSF | ||
3.00%, due 12/1/27 | 725,000 | 823,395 |
Series A, Insured: PSF | ||
3.00%, due 12/1/28 | 745,000 | 853,553 |
Series A, Insured: PSF | ||
3.00%, due 12/1/29 | 770,000 | 887,407 |
Series A, Insured: PSF | ||
4.00%, due 12/1/23 | 200,000 | 218,512 |
Series A, Insured: PSF | ||
4.00%, due 12/1/24 | 325,000 | 365,375 |
Series A, Insured: PSF | ||
4.00%, due 12/1/25 | 340,000 | 391,820 |
Arlington Higher Education Finance Corp., Great Hearts America - Texas, Revenue Bonds | ||
Series A, Insured: PSF | ||
5.00%, due 8/15/23 | 355,000 | 392,032 |
Series A, Insured: PSF | ||
5.00%, due 8/15/24 | 185,000 | 211,961 |
Series A, Insured: PSF | ||
5.00%, due 8/15/24 | 450,000 | 515,581 |
Arlington Independent School District, Unlimited General Obligation | ||
Series A, Insured: PSF | ||
5.00%, due 2/15/23 | 100,000 | 108,696 |
Austin Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
5.00%, due 8/1/21 | 7,925,000 | 8,019,387 |
Belmont Fresh Water Supply District No. 1, Unlimited General Obligation | ||
Insured: AGM | ||
3.50%, due 3/1/23 | 495,000 | 520,828 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Brazoria County Municipal Utility District No. 19, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 9/1/22 | $ 385,000 | $ 398,787 |
Insured: BAM | ||
3.00%, due 9/1/23 | 410,000 | 435,001 |
Brazos Higher Education Authority, Inc., Revenue Bonds | ||
Series 1A | ||
1.305%, due 4/1/24 | 750,000 | 753,217 |
Series 1A | ||
1.974%, due 4/1/26 | 750,000 | 757,438 |
Brownsville Independent School District, Unlimited General Obligation | ||
Series A, Insured: PSF | ||
3.00%, due 8/15/25 | 250,000 | 277,068 |
Central Texas Regional Mobility Authority, Revenue Bonds, Sub. Lien | ||
Series F | ||
5.00%, due 1/1/25 | 9,000,000 | 10,267,337 |
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien | ||
5.00%, due 1/1/25 | 135,000 | 156,406 |
5.00%, due 1/1/26 | 245,000 | 293,006 |
Central Texas Turnpike System, Revenue Bonds, First Tier | ||
Series A, Insured: BHAC-CR AMBAC | ||
(zero coupon), due 8/15/26 | 2,250,000 | 2,167,477 |
Central Texas Turnpike System, Revenue Bonds | ||
Series C | ||
5.00%, due 8/15/23 | 1,600,000 | 1,777,761 |
Series C | ||
5.00%, due 8/15/24 | 1,785,000 | 2,064,118 |
Central Texas Turnpike System, Capital Appreciation, Revenue Bonds, First Tier | ||
Series A, Insured: AMBAC | ||
(zero coupon), due 8/15/29 | 900,000 | 783,268 |
Principal Amount | Value | |
Texas (continued) | ||
Cibolo Canyons Special Improvement District, Limited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 8/15/21 | $ 345,000 | $ 349,463 |
Cibolo Canyons Special Improvement District, Valorem Tax Utility System, Limited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 8/15/22 | 365,000 | 386,471 |
Series A, Insured: AGM | ||
5.00%, due 8/15/23 | 575,000 | 629,596 |
Cinco Southwest Municipal Utility District No. 1, Unlimited General Obligation | ||
Insured: BAM | ||
2.00%, due 12/1/21 | 480,000 | 484,879 |
Series A, Insured: BAM | ||
2.00%, due 12/1/22 | 275,000 | 282,604 |
Insured: BAM | ||
2.00%, due 12/1/22 | 470,000 | 482,996 |
City of Austin TX, Airport System, Revenue Bonds | ||
5.00%, due 11/15/22 (b) | 200,000 | 214,247 |
Series B | ||
5.00%, due 11/15/24 (b) | 250,000 | 288,798 |
5.00%, due 11/15/26 | 500,000 | 576,266 |
City of Austin TX, Electric Utility, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/25 | 685,000 | 824,908 |
City of Dallas TX, Waterworks & Sewer System, Revenue Bonds | ||
Series B | ||
2.485%, due 10/1/21 | 3,500,000 | 3,534,699 |
Series A | ||
5.00%, due 10/1/24 | 150,000 | 173,835 |
City of Houston TX, Hotel Occupancy Tax & Special Tax, Revenue Bonds | ||
Series B, Insured: AGM-CR AMBAC | ||
(zero coupon), due 9/1/22 | 150,000 | 148,771 |
5.00%, due 9/1/21 | 1,535,000 | 1,550,894 |
5.00%, due 9/1/22 | 600,000 | 631,653 |
Insured: BAM | ||
5.00%, due 9/1/22 | 485,000 | 515,308 |
5.00%, due 9/1/23 | 1,005,000 | 1,090,750 |
5.00%, due 9/1/24 | 3,180,000 | 3,551,764 |
5.00%, due 9/1/25 | 1,000,000 | 1,110,732 |
5.00%, due 9/1/25 | 1,520,000 | 1,735,887 |
62 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
City of Houston TX, Hotel Occupancy Tax & Special Tax, Revenue Bonds (continued) | ||
5.00%, due 9/1/26 | $ 430,000 | $ 502,078 |
City of Houston TX, Airport System, Revenue Bonds, Sub. Lien | ||
5.00%, due 7/1/21 (b) | 90,000 | 90,664 |
5.00%, due 7/1/21 (b) | 210,000 | 211,554 |
Series A | ||
5.00%, due 7/1/24 (b) | 2,035,000 | 2,050,186 |
Series D | ||
5.00%, due 7/1/24 | 2,000,000 | 2,293,966 |
Series C | ||
5.00%, due 7/1/27 (b) | 175,000 | 218,140 |
City of Houston TX, Revenue Bonds, First Lien | ||
Series B | ||
5.00%, due 11/15/21 | 75,000 | 76,953 |
Series F | ||
5.00%, due 11/15/30 | 100,000 | 102,609 |
City of Houston TX, Limited General Obligation | ||
Series A | ||
5.00%, due 3/1/26 | 50,000 | 52,028 |
City of Laredo TX, Waterworks & Sewer System, Revenue Bonds | ||
Insured: AGM | ||
3.50%, due 3/1/37 | 60,000 | 61,677 |
City of Laredo TX, International Toll Bridge System, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 10/1/22 | 150,000 | 160,032 |
City of Lewisville TX, Lewisville Castle Hills Public Improvement District No. 3 Project, Special Assessment | ||
Insured: AGM | ||
5.00%, due 9/1/24 | 1,045,000 | 1,132,513 |
City of Lubbock TX, Water & Wastewater System, Revenue Bonds | ||
Series A | ||
5.00%, due 2/15/22 | 250,000 | 259,455 |
City of Mission TX, Certificates of Obligation, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/24 | 775,000 | 871,146 |
Principal Amount | Value | |
Texas (continued) | ||
City of Mission TX, Certificates of Obligation, Limited General Obligation (continued) | ||
Insured: BAM | ||
5.00%, due 2/15/25 | $ 900,000 | $ 1,045,738 |
Insured: BAM | ||
5.00%, due 2/15/26 | 770,000 | 920,590 |
City of Mission TX, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/24 | 550,000 | 618,232 |
Insured: BAM | ||
5.00%, due 2/15/25 | 570,000 | 662,301 |
Insured: BAM | ||
5.00%, due 2/15/26 | 500,000 | 597,786 |
City of Mount Pleasant TX, Texas Combination Tax and Certificates of Obligation, Limited General Obligation (e) | ||
Insured: AGM | ||
5.00%, due 5/15/25 | 435,000 | 511,770 |
Insured: AGM | ||
5.00%, due 5/15/26 | 520,000 | 631,129 |
Insured: AGM | ||
5.00%, due 5/15/27 | 520,000 | 647,832 |
Insured: AGM | ||
5.00%, due 5/15/28 | 550,000 | 701,187 |
City of Rio Grande City TX, Certificates of Obligation, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 2/15/22 | 300,000 | 308,694 |
Insured: AGM | ||
4.00%, due 2/15/23 | 505,000 | 537,128 |
Insured: AGM | ||
4.00%, due 2/15/24 | 545,000 | 598,537 |
Insured: AGM | ||
4.00%, due 2/15/25 | 610,000 | 688,970 |
Clear Lake City Water Authority, Unlimited General Obligation | ||
4.00%, due 3/1/22 | 110,000 | 112,925 |
4.00%, due 3/1/23 | 150,000 | 159,837 |
Collin County Water Control & Improvement District No. 3, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 9/15/21 | 215,000 | 218,592 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Collin County Water Control & Improvement District No. 3, Unlimited General Obligation (continued) | ||
Insured: AGM | ||
5.00%, due 9/15/22 | $ 245,000 | $ 260,104 |
Insured: AGM | ||
5.00%, due 9/15/23 | 240,000 | 264,825 |
Insured: AGM | ||
5.00%, due 9/15/24 | 250,000 | 285,276 |
Corpus Christi Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
(zero coupon), due 8/15/23 | 300,000 | 298,159 |
County of Fort Bend TX, Unlimited General Obligation, Sub. Lien | ||
5.00%, due 3/1/32 | 50,000 | 52,007 |
County of Williamson TX, Unlimited General Obligation | ||
4.00%, due 2/15/22 | 200,000 | 206,052 |
Dallas Area Rapid Transit, Revenue Bonds | ||
5.00%, due 12/1/25 | 220,000 | 265,097 |
Dallas Fort Worth International Airport, Revenue Bonds | ||
Series F | ||
5.00%, due 11/1/21 | 1,295,000 | 1,325,727 |
Series A | ||
5.00%, due 11/1/23 | 1,110,000 | 1,240,667 |
Series A | ||
5.00%, due 11/1/24 | 1,770,000 | 2,054,723 |
Series E | ||
5.00%, due 11/1/25 | 450,000 | 482,241 |
Series D | ||
5.00%, due 11/1/38 (b) | 1,750,000 | 1,791,435 |
Denison Independent School District, Capital Appreciation, Unlimited General Obligation | ||
Insured: PSF | ||
(zero coupon), due 8/1/21 | 225,000 | 224,892 |
DeSoto Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
(zero coupon), due 8/15/26 | 680,000 | 654,715 |
Principal Amount | Value | |
Texas (continued) | ||
East Aldine Management District, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 2/15/23 | $ 200,000 | $ 213,427 |
Ector County Hospital District, Limited General Obligation | ||
5.00%, due 9/15/21 | 400,000 | 405,867 |
5.00%, due 9/15/22 | 400,000 | 421,597 |
5.00%, due 9/15/23 | 430,000 | 468,839 |
5.00%, due 9/15/24 | 450,000 | 505,500 |
5.00%, due 9/15/25 | 500,000 | 576,551 |
Fort Bend County Levee Improvement District No. 15, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/21 | 450,000 | 455,507 |
Insured: BAM | ||
4.00%, due 9/1/21 | 400,000 | 404,895 |
Insured: BAM | ||
4.00%, due 9/1/22 | 465,000 | 488,114 |
Fort Bend County Municipal Utility District No. 134C, Unlimited General Obligation (e) | ||
3.00%, due 9/1/22 | 750,000 | 776,011 |
3.00%, due 9/1/23 | 420,000 | 445,471 |
3.00%, due 9/1/24 | 515,000 | 557,854 |
3.00%, due 9/1/25 | 515,000 | 565,912 |
3.00%, due 9/1/26 | 515,000 | 571,612 |
Fort Bend County Municipal Utility District No. 169, Unlimited General Obligation | ||
Insured: AGM | ||
2.00%, due 12/1/26 | 665,000 | 700,765 |
Fort Bend County Municipal Utility District No. 169, Water Sewer and Drainage Facilities, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/21 | 925,000 | 943,671 |
Fort Bend County Municipal Utility District No. 194, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 9/1/21 | 285,000 | 288,346 |
Series A, Insured: AGM | ||
4.00%, due 9/1/22 | 290,000 | 303,821 |
Series A, Insured: AGM | ||
4.00%, due 9/1/24 | 290,000 | 320,998 |
64 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Fort Bend County Municipal Utility District No. 194, Unlimited General Obligation (continued) | ||
Series A, Insured: AGM | ||
4.00%, due 9/1/25 | $ 290,000 | $ 327,016 |
Fort Bend County Municipal Utility District No. 206, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 9/1/24 | 300,000 | 338,041 |
Insured: BAM | ||
4.50%, due 9/1/25 | 300,000 | 347,252 |
Insured: BAM | ||
4.50%, due 9/1/26 | 300,000 | 354,412 |
Fort Bend County Municipal Utility District No. 48, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 10/1/23 | 310,000 | 330,298 |
Insured: BAM | ||
3.00%, due 10/1/24 | 310,000 | 336,711 |
Insured: BAM | ||
3.00%, due 10/1/25 | 310,000 | 341,783 |
Fort Bend County Municipal Utility District No. 57, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 4/1/23 | 225,000 | 236,639 |
Insured: AGM | ||
3.00%, due 4/1/24 | 245,000 | 263,315 |
Insured: AGM | ||
3.00%, due 4/1/25 | 250,000 | 273,537 |
Fort Bend-Waller Counties Municipal Utility District No. 3, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 4/1/23 | 175,000 | 187,826 |
Insured: BAM | ||
4.50%, due 4/1/24 | 175,000 | 194,693 |
Insured: BAM | ||
4.50%, due 4/1/25 | 175,000 | 200,512 |
Galveston County Municipal Utility District No. 56, Unlimited General Obligation | ||
Insured: BAM | ||
4.25%, due 12/1/22 | 400,000 | 424,676 |
Principal Amount | Value | |
Texas (continued) | ||
Galveston County Municipal Utility District No. 56, Unlimited General Obligation (continued) | ||
Insured: BAM | ||
4.50%, due 12/1/21 | $ 400,000 | $ 409,620 |
Insured: AGM | ||
4.50%, due 12/1/23 | 425,000 | 471,749 |
Insured: AGM | ||
4.50%, due 12/1/24 | 675,000 | 775,210 |
Grand Parkway Transportation Corp., Revenue Bonds | ||
5.00%, due 2/1/23 | 3,610,000 | 3,887,387 |
Gulfgate Redevelopment Authority | ||
Insured: AGM | ||
4.00%, due 9/1/21 | 300,000 | 303,523 |
Insured: AGM | ||
4.00%, due 9/1/23 | 325,000 | 348,020 |
Insured: AGM | ||
4.00%, due 9/1/25 | 440,000 | 492,194 |
Harris County Municipal Utility District No. 105, Unlimited General Obligation | ||
Insured: AGM | ||
4.50%, due 3/1/26 | 250,000 | 292,993 |
Harris County Municipal Utility District No. 370, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 12/1/21 | 110,000 | 111,750 |
Insured: AGM | ||
3.00%, due 12/1/22 | 355,000 | 369,362 |
Insured: AGM | ||
3.00%, due 12/1/24 | 250,000 | 272,395 |
Harris County Municipal Utility District No. 423, Unlimited General Obligation | ||
Insured: AGM | ||
4.50%, due 4/1/25 (e) | 400,000 | 457,813 |
Harris County Municipal Utility District No. 480, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 4/1/23 | 175,000 | 187,520 |
Insured: AGM | ||
4.00%, due 4/1/24 | 175,000 | 192,334 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Harris County Municipal Utility District No. 489, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/24 | $ 615,000 | $ 686,118 |
Insured: BAM | ||
4.00%, due 9/1/25 | 615,000 | 703,898 |
Harris County-Houston Sports Authority, Revenue Bonds, Senior Lien | ||
Series A, Insured: AGM | ||
5.00%, due 11/15/24 | 150,000 | 172,369 |
Series A, Insured: AGM | ||
5.00%, due 11/15/25 | 245,000 | 280,459 |
Series A | ||
5.00%, due 11/15/28 | 1,440,000 | 1,620,468 |
Hidalgo County Regional Mobility Authority, Revenue Bonds, Senior Lien | ||
Series B, Insured: AGM | ||
1.464%, due 12/1/27 | 170,000 | 167,495 |
Houston Higher Education Finance Corp., Houston Baptist University, Revenue Bonds | ||
1.50%, due 10/1/22 | 100,000 | 99,930 |
1.75%, due 10/1/24 | 115,000 | 115,008 |
2.00%, due 10/1/25 | 150,000 | 150,021 |
Hunt Memorial Hospital District Charitable Health, Limited General Obligation | ||
5.00%, due 2/15/23 | 325,000 | 349,020 |
5.00%, due 2/15/24 | 275,000 | 305,236 |
5.00%, due 2/15/25 | 450,000 | 514,696 |
5.00%, due 2/15/26 | 800,000 | 939,605 |
Imperial Redevelopment District, Unlimited General Obligation | ||
Insured: AGM | ||
2.00%, due 5/1/26 | 130,000 | 134,080 |
Insured: AGM | ||
4.50%, due 5/1/22 | 110,000 | 114,481 |
Insured: AGM | ||
4.50%, due 5/1/23 | 120,000 | 129,625 |
Insured: AGM | ||
4.50%, due 5/1/24 | 85,000 | 94,658 |
Series A, Insured: AGM | ||
4.50%, due 5/1/24 | 425,000 | 473,288 |
Principal Amount | Value | |
Texas (continued) | ||
Imperial Redevelopment District, Unlimited General Obligation (continued) | ||
Insured: AGM | ||
4.50%, due 5/1/25 | $ 125,000 | $ 142,492 |
Lazy Nine Municipal Utility District No. 1B, Unlimited General Obligation | ||
Series 1B, Insured: AGM | ||
3.00%, due 9/1/24 | 360,000 | 386,433 |
Leander Independent School District, Unlimited General Obligation | ||
Series D, Insured: PSF | ||
(zero coupon), due 8/15/24 | 435,000 | 429,137 |
Series D, Insured: PSF | ||
(zero coupon), due 8/15/40 | 2,125,000 | 974,014 |
Series C, Insured: PSF | ||
(zero coupon), due 8/15/43 | 450,000 | 162,488 |
Series C, Insured: PSF | ||
(zero coupon), due 8/15/45 | 400,000 | 128,063 |
Series C, Insured: PSF | ||
5.00%, due 8/15/23 | 340,000 | 377,278 |
Lubbock-Cooper Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
5.00%, due 2/15/25 | 105,000 | 123,078 |
Mabank Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
(zero coupon), due 8/15/26 | 950,000 | 905,581 |
Matagorda County Navigation District No. 1, Revenue Bonds | ||
Insured: AMBAC | ||
5.125%, due 11/1/28 | 6,530,000 | 8,271,528 |
Metropolitan Transit Authority of Harris County Sales & Use Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/25 | 150,000 | 180,559 |
Series A | ||
5.00%, due 11/1/30 | 100,000 | 102,418 |
Montgomery County Municipal Utility District No. 46, Unlimited General Obligation | ||
2.50%, due 3/1/22 | 1,455,000 | 1,457,496 |
66 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
North Central Texas Community College District, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 5/15/21 | $ 380,000 | $ 380,321 |
North Forest Municipal Utility District, Unlimited General Obligation | ||
3.00%, due 4/1/23 | 280,000 | 293,497 |
North Fort Bend Water Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 12/15/24 | 1,485,000 | 1,731,876 |
Series B | ||
5.00%, due 12/15/25 | 1,350,000 | 1,626,689 |
North Texas Municipal Water District, Sabine Creek Regional Wastewater Systems Project, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 6/1/24 | 350,000 | 387,236 |
North Texas Tollway Authority, Tollway System, Revenue Bonds, Second Tier | ||
Series B | ||
5.00%, due 1/1/22 | 80,000 | 82,536 |
Northwest Independent School District, Capital Appreciation, Unlimited General Obligation | ||
Insured: PSF | ||
(zero coupon), due 2/15/25 | 295,000 | 287,459 |
Northwest Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
5.00%, due 2/15/25 | 115,000 | 135,084 |
Pecan Grove Municipal Utility District, Unlimited General Obligation | ||
4.00%, due 9/1/22 | 100,000 | 104,971 |
Progreso Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
4.00%, due 2/15/23 | 290,000 | 290,758 |
Red River Education Finance Corp., Texas Christian University, Revenue Bonds | ||
5.00%, due 3/15/22 | 55,000 | 57,312 |
Principal Amount | Value | |
Texas (continued) | ||
Remington Municipal Utility District No. 1, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 9/1/22 | $ 330,000 | $ 341,817 |
San Marcos Consolidated Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
5.00%, due 8/1/27 | 515,000 | 545,972 |
Sienna Plantation Municipal Utility District No. 4, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 9/1/24 | 460,000 | 493,933 |
Insured: AGM | ||
3.00%, due 9/1/25 | 475,000 | 516,406 |
Southeast Williamson County Municipal Utility District No. 1, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/22 | 150,000 | 157,067 |
Insured: BAM | ||
4.00%, due 9/1/23 | 330,000 | 353,690 |
Insured: BAM | ||
4.00%, due 9/1/24 | 345,000 | 378,769 |
Insured: BAM | ||
4.00%, due 9/1/25 | 355,000 | 397,909 |
Southwest Houston Redevelopment Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 9/1/21 | 150,000 | 152,248 |
Insured: AGM | ||
5.00%, due 9/1/22 | 200,000 | 212,172 |
Insured: AGM | ||
5.00%, due 9/1/24 | 300,000 | 338,414 |
Insured: AGM | ||
5.00%, due 9/1/25 | 300,000 | 347,512 |
State of Texas, Anticipation Notes, Revenue Notes | ||
4.00%, due 8/26/21 | 12,500,000 | 12,654,144 |
State of Texas, Public Financing Authority, Unlimited General Obligation | ||
5.00%, due 10/1/25 | 75,000 | 76,459 |
State of Texas, Highway Improvement, Unlimited General Obligation | ||
5.00%, due 4/1/32 | 50,000 | 52,229 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
State of Texas, College Student Loan, Unlimited General Obligation | ||
Series B | ||
5.25%, due 8/1/21 (b) | $ 9,745,000 | $ 9,864,050 |
Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center Project, Revenue Bonds | ||
Insured: AGM | ||
0.863%, due 9/1/21 | 850,000 | 851,161 |
Insured: AGM | ||
0.923%, due 9/1/22 | 650,000 | 653,363 |
Insured: AGM | ||
1.071%, due 9/1/23 | 650,000 | 655,578 |
Insured: AGM | ||
1.356%, due 9/1/24 | 825,000 | 836,565 |
Insured: AGM | ||
1.386%, due 9/1/25 | 600,000 | 604,319 |
Tarrant County Cultural Education Facilities Finance Corp., Methodist Hospitals of Dallas, Revenue Bonds | ||
5.00%, due 10/1/27 | 1,100,000 | 1,213,858 |
Tarrant County Cultural Education Facilities Finance Corp., Buckner Retirement Services, Inc. Project, Revenue Bonds | ||
5.00%, due 11/15/29 | 770,000 | 936,820 |
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds | ||
5.00%, due 12/15/22 | 750,000 | 806,170 |
5.00%, due 12/15/25 | 4,600,000 | 5,464,045 |
5.00%, due 12/15/26 | 6,125,000 | 7,458,993 |
5.00%, due 12/15/27 | 7,000,000 | 8,718,232 |
Texas Municipal Gas Acquisition and Supply Corp. I, Revenue Bonds, Senior Lien | ||
5.25%, due 12/15/22 | 200,000 | 215,850 |
Texas Municipal Power Agency, Revenue Bonds, Sub. Lien | ||
4.00%, due 9/1/25 | 2,740,000 | 2,747,300 |
Texas Public Finance Authority, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/1/28 | 500,000 | 579,048 |
Principal Amount | Value | |
Texas (continued) | ||
Travis County Water Control & Improvement District, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 8/15/21 | $ 280,000 | $ 282,990 |
Insured: BAM | ||
4.00%, due 8/15/22 | 425,000 | 445,475 |
Insured: BAM | ||
4.00%, due 8/15/23 | 445,000 | 481,753 |
Insured: BAM | ||
4.00%, due 8/15/24 | 460,000 | 511,776 |
Insured: BAM | ||
4.00%, due 8/15/25 | 480,000 | 546,383 |
Tyler Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
5.00%, due 2/15/24 | 100,000 | 113,149 |
Viridian Municipal Management District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/21 | 300,000 | 305,950 |
Insured: AGM | ||
4.00%, due 12/1/21 | 225,000 | 229,463 |
Insured: AGM | ||
4.00%, due 12/1/22 | 550,000 | 578,822 |
Insured: AGM | ||
4.00%, due 12/1/22 | 395,000 | 415,700 |
Insured: AGM | ||
4.00%, due 12/1/23 | 300,000 | 327,525 |
Insured: AGM | ||
4.00%, due 12/1/23 | 305,000 | 332,983 |
Viridian Municipal Management District, Unlimited Tax Road Improvement, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 175,000 | 184,171 |
Insured: BAM | ||
4.00%, due 12/1/24 | 370,000 | 415,545 |
Weatherford Independent School District, Unlimited General Obligation | ||
Insured: PSF | ||
(zero coupon), due 2/15/22 | 325,000 | 324,622 |
193,167,381 |
68 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
U.S. Virgin Islands 0.1% | ||
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan, Revenue Bonds | ||
Insured: NATL | ||
5.00%, due 10/1/21 | $ 450,000 | $ 454,192 |
Insured: NATL | ||
5.00%, due 10/1/22 | 665,000 | 674,834 |
Insured: NATL | ||
5.00%, due 10/1/24 | 395,000 | 401,253 |
1,530,279 | ||
Utah 0.4% | ||
Salt Lake City Corp., Revenue Bonds (b) | ||
Series A | ||
5.00%, due 7/1/21 | 725,000 | 730,410 |
Series A | ||
5.00%, due 7/1/24 | 95,000 | 108,318 |
South Valley Water Reclamation Facility, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 8/15/27 | 250,000 | 267,398 |
Utah Charter School Finance Authority, North Star Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
(zero coupon), due 4/15/25 | 820,000 | 786,383 |
Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/22 | 100,000 | 103,322 |
Insured: UT CSCE | ||
4.00%, due 4/15/23 | 175,000 | 186,184 |
Insured: UT CSCE | ||
4.00%, due 4/15/24 | 280,000 | 306,090 |
Insured: UT CSCE | ||
4.00%, due 4/15/26 | 400,000 | 454,919 |
Utah Charter School Finance Authority, Revenue Bonds | ||
Series A, Insured: UT CSCE | ||
4.00%, due 10/15/24 | 255,000 | 281,730 |
Series A, Insured: UT CSCE | ||
4.00%, due 10/15/25 | 265,000 | 298,606 |
Principal Amount | Value | |
Utah (continued) | ||
Utah Charter School Finance Authority, Summit Academy, Inc. Project, Revenue Bonds | ||
Insured: UT CSCE | ||
5.00%, due 4/15/22 | $ 110,000 | $ 114,693 |
Insured: UT CSCE | ||
5.00%, due 4/15/24 | 340,000 | 381,035 |
Utah Infrastructure Agency, Revenue Bonds | ||
3.00%, due 10/15/25 | 565,000 | 618,884 |
4.00%, due 10/15/21 | 500,000 | 506,990 |
4.00%, due 10/15/23 | 755,000 | 819,698 |
4.00%, due 10/15/27 | 550,000 | 648,422 |
4.00%, due 10/15/28 | 350,000 | 416,539 |
5.00%, due 10/15/25 | 1,000,000 | 1,182,551 |
8,212,172 | ||
Vermont 0.2% | ||
Vermont Student Assistance Corp., Revenue Bonds, Senior Lien (b) | ||
Series A | ||
5.00%, due 6/15/23 | 1,150,000 | 1,255,698 |
Series A | ||
5.00%, due 6/15/24 | 850,000 | 959,464 |
Series A | ||
5.00%, due 6/15/25 | 875,000 | 1,013,592 |
Vermont Student Assistance Corp., Revenue Bonds (b) | ||
Series A | ||
5.00%, due 6/15/25 | 1,300,000 | 1,505,909 |
Series A | ||
5.00%, due 6/15/26 | 175,000 | 206,760 |
4,941,423 | ||
Virginia 0.3% | ||
Alexandria Industrial Development Authority, Episcopal High School, Revenue Bonds | ||
3.00%, due 1/1/22 | 300,000 | 305,463 |
City of Suffolk VA, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
3.00%, due 6/1/21 | 100,000 | 100,219 |
Norfolk Airport Authority, Revenue Bonds | ||
5.00%, due 7/1/24 | 395,000 | 450,508 |
5.00%, due 7/1/25 | 160,000 | 188,653 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Virginia (continued) | ||
Rockingham County Economic Development Authority, Sunnyside Presbyterian Home, Revenue Bonds | ||
4.00%, due 12/1/22 | $ 300,000 | $ 313,353 |
University of Virginia, Revenue Bonds | ||
Series B | ||
5.00%, due 8/1/21 | 215,000 | 217,529 |
Series A | ||
5.00%, due 6/1/43 | 135,000 | 148,649 |
Virginia College Building Authority, Revenue Bonds | ||
5.00%, due 2/1/22 | 120,000 | 124,377 |
Virginia Public School Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 8/1/21 | 1,545,000 | 1,563,324 |
Virginia Small Business Financing Authority, National Senior Campuses, Inc. Obligated Group, Revenue Bonds | ||
5.00%, due 1/1/22 | 500,000 | 515,140 |
5.00%, due 1/1/23 | 500,000 | 536,901 |
5.00%, due 1/1/24 | 550,000 | 612,933 |
5,077,049 | ||
Washington 0.6% | ||
Bellevue Convention Center Authority, Special Obligation, Revenue Bonds | ||
Insured: NATL | ||
(zero coupon), due 2/1/22 | 530,000 | 528,980 |
City of Tacoma WA, Revenue Bonds | ||
4.00%, due 12/1/21 | 160,000 | 163,605 |
County of King WA, Limited General Obligation | ||
5.00%, due 6/1/22 | 100,000 | 100,370 |
Kittitas County School District No. 401 Ellensburg, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
5.00%, due 12/1/21 | 1,050,000 | 1,079,505 |
Insured: School Bond Guaranty | ||
5.00%, due 12/1/22 | 1,800,000 | 1,937,876 |
Northwest Open Access Network, Revenue Bonds | ||
0.691%, due 12/1/22 | 1,200,000 | 1,200,597 |
0.791%, due 12/1/23 | 1,260,000 | 1,258,085 |
Principal Amount | Value | |
Washington (continued) | ||
Northwest Open Access Network, Revenue Bonds (continued) | ||
1.218%, due 12/1/25 | $ 1,105,000 | $ 1,091,154 |
Pend Oreille County Public Utility District No. 1 Box Canyon, Green Bond, Revenue Bonds | ||
5.00%, due 1/1/23 | 100,000 | 105,720 |
Port of Seattle WA, Revenue Bonds | ||
Series B | ||
5.00%, due 5/1/23 | 500,000 | 544,848 |
Snohomish County Public Utility District No. 1, Revenue Bonds | ||
5.00%, due 12/1/22 | 500,000 | 514,139 |
Spokane Public Facilities District, Revenue Bonds | ||
Series B | ||
5.00%, due 12/1/23 | 1,175,000 | 1,273,448 |
State of Washington, Senior 520 Corridor Program, Revenue Bonds | ||
5.00%, due 9/1/24 | 1,000,000 | 1,063,596 |
Washington Higher Education Facilities Authority, Seattle University Project, Revenue Bonds | ||
5.00%, due 5/1/24 | 250,000 | 280,596 |
5.00%, due 5/1/25 | 255,000 | 295,126 |
Washington State Convention Center Public Facilities District, Revenue Bonds | ||
5.00%, due 7/1/22 | 175,000 | 183,268 |
11,620,913 | ||
West Virginia 0.2% | ||
City of Fairmont WV, Waterworks, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 7/1/23 | 300,000 | 314,753 |
Series A, Insured: BAM | ||
3.00%, due 7/1/24 | 500,000 | 532,800 |
Morgantown Utility Board, Inc., Green Bonds, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 12/1/22 | 225,000 | 233,994 |
Roane County Building Commission, Roane General Hospital, Revenue Bonds | ||
2.55%, due 11/1/21 | 1,250,000 | 1,251,641 |
70 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
West Virginia (continued) | ||
West Virginia Commissioner of Highways, Surface Transportation Improvements, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/22 | $ 390,000 | $ 414,919 |
West Virginia Hospital Finance Authority, Cabell Huntington Hospital Obligated Group, Revenue Bonds | ||
5.00%, due 1/1/22 | 200,000 | 205,529 |
5.00%, due 1/1/25 | 350,000 | 403,982 |
3,357,618 | ||
Wisconsin 0.6% | ||
City of Kaukauna WI, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 12/15/21 | 175,000 | 178,015 |
City of Kaukauna WI, Electric System, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 12/15/23 | 300,000 | 320,363 |
Insured: AGM | ||
3.00%, due 12/15/24 | 455,000 | 494,234 |
City of Milwaukee WI, Unlimited General Obligation | ||
Series N2 | ||
4.00%, due 3/1/24 | 125,000 | 137,351 |
Series N2 | ||
5.00%, due 4/1/24 | 4,000,000 | 4,522,600 |
City of Racine WI, Unlimited General Obligation | ||
0.60%, due 12/1/23 | 1,075,000 | 1,075,802 |
City of Racine WI, Waterworks System, Revenue Bonds | ||
4.00%, due 9/1/23 | 750,000 | 759,070 |
Insured: BAM | ||
5.00%, due 9/1/27 | 300,000 | 377,560 |
Omro School District, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 3/1/23 | 100,000 | 105,136 |
Insured: BAM | ||
3.00%, due 3/1/24 | 100,000 | 107,576 |
Public Finance Authority, Affinity Living Group-5A Assisted Living, Revenue Bonds | ||
3.75%, due 2/1/22 | 2,000,000 | 2,001,657 |
Principal Amount | Value | |
Wisconsin (continued) | ||
Public Finance Authority, Northwest Nazarene University, Revenue Bonds | ||
5.00%, due 10/1/25 | $ 500,000 | $ 560,566 |
Town of Manitowish Waters WI, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 3/1/22 | 285,000 | 289,930 |
Insured: AGM | ||
3.00%, due 3/1/23 | 295,000 | 307,281 |
Insured: AGM | ||
3.00%, due 3/1/24 | 300,000 | 317,838 |
Insured: AGM | ||
3.00%, due 3/1/25 | 310,000 | 333,197 |
Village of Fox Crossing WI, Waterworks System & Sewerage System, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 5/1/24 | 295,000 | 317,435 |
12,205,611 | ||
Wyoming 0.1% | ||
County of Laramie WY, Cheyenne Regional Medical Center Project, Revenue Bonds | ||
4.00%, due 5/1/22 | 225,000 | 233,603 |
4.00%, due 5/1/23 | 250,000 | 268,718 |
4.00%, due 5/1/24 | 250,000 | 276,988 |
4.00%, due 5/1/25 | 250,000 | 283,780 |
5.00%, due 5/1/23 | 935,000 | 935,000 |
5.00%, due 5/1/24 | 920,000 | 920,000 |
2,918,089 | ||
Total Long-Term Municipal Bonds (Cost $1,636,421,402) | 1,653,268,553 | |
Short-Term Municipal Notes 13.8% | ||
Alabama 0.4% | ||
City of Mobile Alabama, Alabama Power Company Barry Plant Project, Revenue Bonds | ||
1.00%, due 6/1/34 (a)(g) | 5,500,000 | 5,585,688 |
Southeast Alabama Gas Supply District (The), Project No. 1, Revenue Bonds | ||
Series C | ||
0.71%, due 4/1/49 (f)(g) | 3,000,000 | 3,020,464 |
8,606,152 |
Principal Amount | Value | |
Short-Term Municipal Notes (continued) | ||
California 0.9% | ||
California Infrastructure and Economic Development Bank, Brightline West Passenger Rail Project, Revenue Bonds | ||
Series A | ||
0.45%, due 1/1/50 (b)(c)(g) | $ 10,000,000 | $ 10,001,098 |
California Municipal Finance Authority, Waste Management, Inc. Project, Revenue Bonds | ||
0.70%, due 12/1/44 (a)(b)(g) | 6,500,000 | 6,578,388 |
California Statewide Communities Development Authority, Southern California Edison Co., Revenue Bonds | ||
Series C | ||
2.625%, due 11/1/33 (g) | 1,265,000 | 1,339,129 |
17,918,615 | ||
Connecticut 0.1% | ||
State of Connecticut, Unlimited General Obligation | ||
Series A | ||
0.91%, due 3/1/22 (f)(g) | 3,000,000 | 3,011,077 |
District of Columbia 0.5% | ||
Metropolitan Washington Airports Authority, Airport System, Revenue Bonds | ||
Series A-1 | ||
0.09%, due 10/1/39 (a)(g) | 10,000,000 | 10,000,000 |
Florida 0.1% | ||
Tender Option Bond Trust Receipts/Certificates, Revenue Bonds | ||
Series 2020-XF2922 | ||
0.10%, due 12/1/48 (a)(c)(g) | 1,615,000 | 1,615,000 |
Georgia 1.2% | ||
Development Authority of Burke County (The), Georgia Power Company Plant Vogtle Project, Revenue Bonds, First Series | ||
1.65%, due 11/1/48 (a)(g) | 1,075,000 | 1,076,784 |
Principal Amount | Value | |
Georgia (continued) | ||
Development Authority of Burke County (The), Georgia Power Company Plant Vogtle Project, Revenue Bonds, Second Series | ||
1.70%, due 12/1/49 (a)(g) | $ 5,000,000 | $ 5,186,704 |
Development Authority of Burke County (The), Georgia Power Company Plant Vogtle Project, Revenue Bonds (a)(g) | ||
2.05%, due 10/1/32 | 3,500,000 | 3,533,314 |
2.25%, due 10/1/32 | 2,800,000 | 2,906,373 |
Development Authority of Heard County, Georgia Power Company Plant Vogtle Project, Revenue Bonds | ||
0.10%, due 12/1/37 (a)(b)(g) | 3,600,000 | 3,600,000 |
Main Street Natural Gas, Inc., Revenue Bonds | ||
Series D | ||
0.907%, due 8/1/48 (f)(g) | 7,500,000 | 7,567,436 |
23,870,611 | ||
Idaho 0.4% | ||
Idaho Health Facilities Authority, CHE Trinity Health Credit Group, Revenue Bonds | ||
0.22%, due 12/1/48 (a)(g) | 8,735,000 | 8,735,000 |
Illinois 0.2% | ||
Illinois Finance Authority, Edward-Elmhurst Healthcare, Revenue Bonds | ||
0.81%, due 1/1/46 (f)(g) | 3,500,000 | 3,502,810 |
Indiana 0.2% | ||
Indiana Finance Authority, Indianapolis Power & Light Co., Revenue Bonds (g) | ||
Series A | ||
0.75%, due 12/1/38 | 1,500,000 | 1,493,736 |
Series B | ||
0.95%, due 12/1/38 (b) | 2,265,000 | 2,260,991 |
Indiana Finance Authority, Prerefunded Ascension Health, Revenue Bonds | ||
1.75%, due 11/15/31 (a)(g) | 20,000 | 20,129 |
72 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Short-Term Municipal Notes (continued) | ||
Indiana (continued) | ||
Indiana Finance Authority, Unrefunded Ascension Health, Revenue Bonds | ||
1.75%, due 11/15/31 (a)(g) | $ 1,290,000 | $ 1,300,326 |
5,075,182 | ||
Kentucky 0.8% | ||
County of Carroll KY, Kentucky Utilities Company Project, Revenue Bonds | ||
1.20%, due 2/1/32 (a)(b)(g) | 3,000,000 | 3,002,021 |
County of Meade KY, Nucor Steel Brandenburg Project, Green Bond, Revenue Bonds | ||
0.11%, due 7/1/60 (a)(b)(g) | 5,320,000 | 5,320,000 |
Kentucky Asset Liability Commission, Floating Rate Project, Revenue Bonds (f)(g) | ||
Series B, Insured: NATL | ||
0.657%, due 11/1/21 | 1,025,000 | 1,025,000 |
Series B, Insured: NATL | ||
0.687%, due 11/1/25 | 5,825,000 | 5,825,000 |
15,172,021 | ||
Louisiana 0.9% | ||
Parish of St John the Baptist, Marathon Oil Corp. Project, Revenue Bonds | ||
Series B-2 | ||
2.375%, due 6/1/37 (g) | 6,525,000 | 6,833,830 |
Parish of St John the Baptist LA, Marathon Oil Corp. Project, Revenue Bonds | ||
2.125%, due 6/1/37 (a)(g) | 9,925,000 | 10,246,133 |
17,079,963 | ||
Massachusetts 0.4% | ||
Massachusetts Development Finance Agency, Boston University, Revenue Bonds | ||
Series U6C | ||
0.01%, due 10/1/42 (g) | 7,600,000 | 7,600,000 |
Michigan 0.1% | ||
Michigan Strategic Fund, Detroit Edison Co., Revenue Bonds | ||
1.45%, due 8/1/29 (a)(g) | 2,000,000 | 2,007,986 |
Principal Amount | Value | |
Mississippi 0.1% | ||
Mississippi Business Finance Corp., Waste Management, Inc. Project, Revenue Bonds | ||
0.55%, due 3/1/29 (a)(g) | $ 1,750,000 | $ 1,750,907 |
Missouri 0.3% | ||
Missouri State Health & Educational Facilities Authority, Washington University, Revenue Bonds | ||
Series C | ||
0.03%, due 3/1/40 (a)(g) | 6,000,000 | 6,000,000 |
Montana 0.3% | ||
Montana Facility Finance Authority, Billings Clinic Obligated Group, Revenue Bonds | ||
0.61%, due 8/15/37 (f)(g) | 6,075,000 | 6,085,337 |
Nevada 0.1% | ||
County of Washoe, Sierra Pacific Power Co., Revenue Bonds | ||
2.05%, due 3/1/36 (a)(b)(g) | 3,000,000 | 3,048,156 |
New Hampshire 0.1% | ||
New Hampshire Business Finance Authority, Waste Management, Inc. Project, Revenue Bonds | ||
0.81%, due 10/1/33 (b)(f)(g) | 1,500,000 | 1,500,183 |
New Jersey 0.7% | ||
New Jersey Economic Development Authority, New Jersey-American Water Co., Inc., Revenue Bonds | ||
Series D | ||
1.10%, due 11/1/29 (b)(g) | 2,035,000 | 2,022,237 |
New Jersey Housing & Mortgage Finance Agency, Pilgrim Baptist Village I & II, Revenue Bonds | ||
Insured: HUD SECT 8 | ||
1.50%, due 9/1/22 (a)(g) | 2,650,000 | 2,661,192 |
New Jersey Transportation Trust Fund Authority, Transportation Program Notes, Revenue Bonds | ||
1.26%, due 6/15/34 (f)(g) | 2,250,000 | 2,251,048 |
Principal Amount | Value | |
Short-Term Municipal Notes (continued) | ||
New Jersey (continued) | ||
New Jersey Turnpike Authority, Revenue Bonds (f)(g) | ||
Series C-2 | ||
0.561%, due 1/1/22 | $ 3,500,000 | $ 3,504,689 |
Series D-1 | ||
0.781%, due 1/1/24 | 2,600,000 | 2,624,172 |
13,063,338 | ||
New Mexico 0.0% ‡ | ||
City of Farmington NM, Pollution Control, Public Service Company of New Mexico San Juan Project, Revenue Bonds | ||
1.15%, due 6/1/40 (a)(g) | 1,000,000 | 1,016,121 |
New York 1.4% | ||
Metropolitan Transportation Authority, Revenue Bonds (f)(g) | ||
Insured: AGM | ||
0.557%, due 11/1/32 | 11,250,000 | 11,252,167 |
Insured: AGM | ||
0.807%, due 11/1/32 | 7,500,000 | 7,499,069 |
Triborough Bridge & Tunnel Authority, Revenue Bonds | ||
0.085%, due 1/1/32 (g) | 5,000,000 | 5,000,000 |
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds | ||
Series 2005B-4A | ||
0.387%, due 1/1/32 (f)(g) | 4,500,000 | 4,501,596 |
28,252,832 | ||
Ohio 1.2% | ||
Ohio Air Quality Development Authority, American Electric Power Co. Project, Revenue Bonds (a)(g) | ||
2.10%, due 7/1/28 (b) | 4,000,000 | 4,187,519 |
2.10%, due 10/1/28 (b) | 10,000,000 | 10,468,275 |
2.40%, due 12/1/38 | 6,210,000 | 6,585,024 |
2.50%, due 11/1/42 (b) | 2,500,000 | 2,756,476 |
State of Ohio, Cleveland Clinic Health System Obligated Group, Revenue Bonds | ||
0.46%, due 1/1/52 (f)(g) | 120,000 | 120,171 |
24,117,465 |
Principal Amount | Value | |
Pennsylvania 1.0% | ||
County of Allegheny PA, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
0.687%, due 11/1/26 (f)(g) | $ 960,000 | $ 964,340 |
Lehigh County General Purpose Authority, Muhlenberg College Project, Revenue Bonds | ||
0.64%, due 11/1/37 (f)(g) | 13,755,000 | 13,731,319 |
Pennsylvania Higher Educational Facilities Authority, Indiana University, Revenue Bonds | ||
Series A, Insured: AGC | ||
0.735%, due 7/1/27 (f)(g) | 3,000,000 | 2,977,875 |
Pennsylvania Higher Educational Facilities Authority, Trustees of the University of Pennsylvania, Revenue Bonds | ||
Series A | ||
2.25%, due 8/15/41 (g) | 250,000 | 251,444 |
University of Pittsburgh-of the Commonwealth System of Higher Education, Revenue Bonds (f)(g) | ||
0.31%, due 9/15/21 | 70,000 | 70,000 |
0.42%, due 2/15/24 | 2,000,000 | 2,010,687 |
20,005,665 | ||
Texas 0.7% | ||
Cypress-Fairbanks Independent School District, Unlimited General Obligation | ||
Series A-1, Insured: PSF | ||
2.125%, due 2/15/27 (a)(g) | 5,025,000 | 5,052,379 |
Texas Municipal Gas Acquisition and Supply Corp. II, Revenue Bonds | ||
0.61%, due 9/15/27 (f)(g) | 8,500,000 | 8,566,746 |
13,619,125 | ||
Utah 0.6% | ||
City of Murray UT, IHC Health Services, Inc., Revenue Bonds | ||
Series D | ||
0.01%, due 5/15/36 (g) | 12,000,000 | 12,000,000 |
Virginia 0.1% | ||
Peninsula Ports Authority, Dominion Terminal Associates Project, Revenue Bonds | ||
1.70%, due 10/1/33 (a)(g) | 2,000,000 | 2,038,362 |
74 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Short-Term Municipal Notes (continued) | ||
Washington 0.5% | ||
Washington Health Care Facilities Authority, Fred Hutchinson Cancer Research Center, Revenue Bonds | ||
1.11%, due 1/1/42 (f)(g) | $ 9,000,000 | $ 9,072,587 |
West Virginia 0.3% | ||
West Virginia Economic Development Authority, Appalachian Power Co. Project, Revenue Bonds | ||
1.00%, due 1/1/41 (a)(b)(g) | 5,500,000 | 5,562,991 |
Wisconsin 0.2% | ||
Wisconsin Health & Educational Facilities Authority, Advocate Aurora Health Credit Group, Revenue Bonds | ||
0.51%, due 8/15/54 (f)(g) | 3,500,000 | 3,506,221 |
Total Short-Term Municipal Notes (Cost $272,305,317) | 274,833,707 | |
Total Municipal Bonds (Cost $1,908,726,719) | 1,928,102,260 | |
Long-Term Bonds 0.1% | ||
Corporate Bonds 0.1% | ||
Entertainment 0.1% | ||
Smithsonian Institution | ||
0.895%, due 9/1/22 | 825,000 | 827,020 |
0.974%, due 9/1/23 | 800,000 | 801,523 |
1,628,543 | ||
Healthcare-Services 0.0% ‡ | ||
Baptist Health Obligated Group | ||
2.579%, due 12/1/22 | 350,000 | 351,546 |
2.679%, due 12/1/23 | 400,000 | 403,990 |
755,536 | ||
Total Corporate Bonds (Cost $2,375,000) | 2,384,079 | |
Total Long-Term Bonds (Cost $2,375,000) | 2,384,079 | |
Shares | Value | ||
Closed-End Funds 1.0% | |||
California 0.2% | |||
Invesco California Value Municipal Income Trust (c)(f)(g) | 5,000,000 | $ 5,000,000 | |
North Carolina 0.8% | |||
Invesco Municipal Income Opportunities Trust II (c)(f)(g) | 15,000,000 | 15,000,000 | |
Total Closed-End Funds (Cost $20,000,000) | 20,000,000 | ||
Total Investments (Cost $1,931,101,719) | 97.7% | 1,950,486,339 | |
Other Assets, Less Liabilities | 2.3 | 45,467,592 | |
Net Assets | 100.0% | $ 1,995,953,931 |
† | 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, 2021. |
(b) | Interest on these securities was subject to alternative minimum tax. |
(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) | Step coupon—Rate shown was the rate in effect as of April 30, 2021. |
(e) | Delayed delivery security. |
(f) | Floating rate—Rate shown was the rate in effect as of April 30, 2021. |
(g) | 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 5 Year Notes | (250) | June 2021 | $ (30,934,997) | $ (30,984,375) | $ (49,378) |
1. | As of April 30, 2021, cash in the amount of $200,000 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, 2021. |
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. |
GNMA—Government National Mortgage Association |
MUN GOVT GTD—Municipal Government Guaranteed |
NATL—National Public Finance Guarantee Corp. |
NATL-RE—National Public Finance Guarantee Corp. |
PSF—Permanent School Fund |
Q-SBLF—Qualified School Board Loan Fund |
SONYMA—State of New York Mortgage Agency |
UT CSCE—Utah Charter School Credit Enhancement Program |
76 | MainStay MacKay Short Term Municipal 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) | |||||||
Municipal Bonds | |||||||
Long-Term Municipal Bonds | $ — | $ 1,653,268,553 | $ — | $ 1,653,268,553 | |||
Short-Term Municipal Notes | — | 274,833,707 | — | 274,833,707 | |||
Total Municipal Bonds | — | 1,928,102,260 | — | 1,928,102,260 | |||
Long-Term Bonds | |||||||
Corporate Bonds | �� — | 2,384,079 | — | 2,384,079 | |||
Total Corporate Bonds | — | 2,384,079 | — | 2,384,079 | |||
Closed-End Funds | — | 20,000,000 | — | 20,000,000 | |||
Total Investments in Securities | $ — | $ 1,950,486,339 | $ — | $ 1,950,486,339 | |||
Liability Valuation Inputs | |||||||
Other Financial Instruments | |||||||
Futures Contracts (b) | $ (49,378) | $ — | $ — | $ (49,378) |
(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. |
Assets | |
Investment in securities, at value (identified cost $1,931,101,719) | $1,950,486,339 |
Cash collateral on deposit at broker for futures contracts | 200,000 |
Cash | 77,469,356 |
Receivables: | |
Interest | 20,618,077 |
Fund shares sold | 10,829,463 |
Investment securities sold | 2,983,725 |
Other assets | 141,133 |
Total assets | 2,062,728,093 |
Liabilities | |
Payables: | |
Investment securities purchased | 61,629,515 |
Fund shares redeemed | 3,876,826 |
Manager (See Note 3) | 527,798 |
NYLIFE Distributors (See Note 3) | 122,530 |
Transfer agent (See Note 3) | 85,734 |
Professional fees | 56,970 |
Shareholder communication | 18,551 |
Custodian | 16,062 |
Variation margin on futures contracts | 9,765 |
Distributions payable | 430,411 |
Total liabilities | 66,774,162 |
Net assets | $1,995,953,931 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 205,038 |
Additional paid-in-capital | 1,979,092,433 |
1,979,297,471 | |
Total distributable earnings (loss) | 16,656,460 |
Net assets | $1,995,953,931 |
Class A | |
Net assets applicable to outstanding shares | $ 503,768,993 |
Shares of beneficial interest outstanding | 51,750,160 |
Net asset value per share outstanding | $ 9.73 |
Maximum sales charge (1.00% of offering price) | 0.10 |
Maximum offering price per share outstanding | $ 9.83 |
Class A2 | |
Net assets applicable to outstanding shares | $ 88,248,363 |
Shares of beneficial interest outstanding | 9,054,852 |
Net asset value and offering price per share outstanding | $ 9.75 |
Investor Class | |
Net assets applicable to outstanding shares | $ 3,608,330 |
Shares of beneficial interest outstanding | 369,530 |
Net asset value per share outstanding | $ 9.76 |
Maximum sales charge (0.50% of offering price) | 0.05 |
Maximum offering price per share outstanding | $ 9.81 |
Class I | |
Net assets applicable to outstanding shares | $1,400,328,245 |
Shares of beneficial interest outstanding | 143,863,136 |
Net asset value and offering price per share outstanding | $ 9.73 |
78 | MainStay MacKay Short Term Municipal Fund |
Investment Income (Loss) | |
Income | |
Interest | $18,730,606 |
Other | 62 |
Total income | 18,730,668 |
Expenses | |
Manager (See Note 3) | 4,998,093 |
Distribution/Service—Class A (See Note 3) | 915,805 |
Distribution/Service—Class A2 (See Note 3) | 74,459 |
Distribution/Service—Investor Class (See Note 3) | 10,114 |
Transfer agent (See Note 3) | 415,145 |
Registration | 201,030 |
Professional fees | 134,881 |
Shareholder communication | 41,047 |
Custodian | 39,239 |
Trustees | 26,815 |
Insurance | 5,810 |
Miscellaneous | 38,859 |
Total expenses before waiver/reimbursement | 6,901,297 |
Expense waiver/reimbursement from Manager (See Note 3) | (81,277) |
Net expenses | 6,820,020 |
Net investment income (loss) | 11,910,648 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on investments | 830,757 |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | 19,269,773 |
Futures contracts | (49,378) |
Net change in unrealized appreciation (depreciation) | 19,220,395 |
Net realized and unrealized gain (loss) | 20,051,152 |
Net increase (decrease) in net assets resulting from operations | $31,961,800 |
for the years ended April 30, 2021 and April 30, 2020
2021 | 2020 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 11,910,648 | $ 7,294,910 |
Net realized gain (loss) | 830,757 | (105,695) |
Net change in unrealized appreciation (depreciation) | 19,220,395 | (1,222,177) |
Net increase (decrease) in net assets resulting from operations | 31,961,800 | 5,967,038 |
Distributions to shareholders: | ||
Class A | (2,799,815) | (1,790,060) |
Class A2 | (186,957) | — |
Investor Class | (21,980) | (43,444) |
Class I | (10,811,576) | (6,253,078) |
Total distributions to shareholders | (13,820,328) | (8,086,582) |
Capital share transactions: | ||
Net proceeds from sales of shares | 2,295,244,028 | 598,830,379 |
Net asset value of shares issued to shareholder in reinvestment of distributions | 8,017,943 | 5,905,161 |
Cost of shares redeemed | (894,414,936) | (487,623,791) |
Increase (decrease) in net assets derived from capital share transactions | 1,408,847,035 | 117,111,749 |
Net increase (decrease) in net assets | 1,426,988,507 | 114,992,205 |
Net Assets | ||
Beginning of year | 568,965,424 | 453,973,219 |
End of year | $1,995,953,931 | $ 568,965,424 |
80 | MainStay MacKay Short Term Municipal Fund |
Year Ended April 30, | |||||||||
Class A | 2021 | 2020 | 2019 | 2018 | 2017 | ||||
Net asset value at beginning of year | $ 9.54 | $ 9.58 | $ 9.51 | $ 9.56 | $ 9.61 | ||||
Net investment income (loss) (a) | 0.06 | 0.13 | 0.12 | 0.10 | 0.08 | ||||
Net realized and unrealized gain (loss) on investments | 0.21 | (0.03) | 0.07 | (0.05) | (0.05) | ||||
Total from investment operations | 0.27 | 0.10 | 0.19 | 0.05 | 0.03 | ||||
Less distributions: | |||||||||
From net investment income | (0.08) | (0.14) | (0.12) | (0.10) | (0.08) | ||||
From net realized gain on investments | — | — | — | — | (0.00)‡ | ||||
Total distributions | (0.08) | (0.14) | (0.12) | (0.10) | (0.08) | ||||
Net asset value at end of year | $ 9.73 | $ 9.54 | $ 9.58 | $ 9.51 | $ 9.56 | ||||
Total investment return (b) | 2.85% | 1.05% | 2.04% (c) | 0.54% | 0.27% | ||||
Ratios (to average net assets)/Supplemental Data: | |||||||||
Net investment income (loss) | 0.63% | 1.30% | 1.28% | 1.06% | 0.79% | ||||
Net expenses | 0.65% | 0.69% | 0.71% | 0.80% | 0.80% | ||||
Expenses (before waiver/reimbursement) | 0.65% | 0.70% | 0.71% | 0.84% | 0.84% | ||||
Portfolio turnover rate | 28% (d) | 94% (d) | 96% | 69% | 85% | ||||
Net assets at end of year (in 000’s) | $ 503,769 | $ 152,614 | $ 113,023 | $ 98,982 | $ 147,029 |
‡ | Less than one cent per share. |
(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) | The portfolio turnover rate includes variable rate demand notes. |
September 30, 2020^ through April 30, 2021 | |
Class A2 | |
Net asset value at beginning of period | $ 9.70** |
Net investment income (loss) (a) | 0.02 |
Net realized and unrealized gain (loss) on investments | 0.07 |
Total from investment operations | 0.09 |
Less distributions: | |
From net investment income | (0.04) |
Net asset value at end of period | $ 9.75 |
Total investment return (b) | 0.90% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.40% |
Net expenses†† | 0.65% |
Portfolio turnover rate (c) | 28% |
Net assets at end of period (in 000’s) | $ 88,248 |
** | Based on the net asset value of Class A as of September 30, 2020. |
^ | 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) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | |||||||||
Investor Class | 2021 | 2020 | 2019 | 2018 | 2017 | ||||
Net asset value at beginning of year | $ 9.57 | $ 9.61 | $ 9.54 | $ 9.59 | $ 9.64 | ||||
Net investment income (loss) (a) | 0.04 | 0.09 | 0.08 | 0.06 | 0.04 | ||||
Net realized and unrealized gain (loss) on investments | 0.20 | (0.02) | 0.07 | (0.05) | (0.05) | ||||
Total from investment operations | 0.24 | 0.07 | 0.15 | 0.01 | (0.01) | ||||
Less distributions: | |||||||||
From net investment income | (0.05) | (0.11) | (0.08) | (0.06) | (0.04) | ||||
From net realized gain on investments | — | — | — | — | (0.00)‡ | ||||
Total distributions | (0.05) | (0.11) | (0.08) | (0.06) | (0.04) | ||||
Net asset value at end of year | $ 9.76 | $ 9.57 | $ 9.61 | $ 9.54 | $ 9.59 | ||||
Total investment return (b) | 2.64% | 0.61% | 1.56% | 0.08% | (0.09)% | ||||
Ratios (to average net assets)/Supplemental Data: | |||||||||
Net investment income (loss) | 0.41% | 0.98% | 0.81% | 0.60% | 0.42% | ||||
Net expenses | 0.98% | 1.09% | 1.18% | 1.26% | 1.17% | ||||
Expenses (before waiver/reimbursement) | 1.25% | 1.28% | 1.30% | 1.36% | 1.22% | ||||
Portfolio turnover rate | 28% (c) | 94% (c) | 96% | 69% | 85% | ||||
Net assets at end of year (in 000’s) | $ 3,608 | $ 4,158 | $ 3,834 | $ 3,366 | $ 3,639 |
‡ | Less than one cent per share. |
(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) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | |||||||||
Class I | 2021 | 2020 | 2019 | 2018 | 2017 | ||||
Net asset value at beginning of year | $ 9.54 | $ 9.58 | $ 9.51 | $ 9.56 | $ 9.61 | ||||
Net investment income (loss) (a) | 0.09 | 0.15 | 0.15 | 0.13 | 0.10 | ||||
Net realized and unrealized gain (loss) on investments | 0.21 | (0.02) | 0.07 | (0.05) | (0.05) | ||||
Total from investment operations | 0.30 | 0.13 | 0.22 | 0.08 | 0.05 | ||||
Less distributions: | |||||||||
From net investment income | (0.11) | (0.17) | (0.15) | (0.13) | (0.10) | ||||
From net realized gain on investments | — | — | — | — | (0.00)‡ | ||||
Total distributions | (0.11) | (0.17) | (0.15) | (0.13) | (0.10) | ||||
Net asset value at end of year | $ 9.73 | $ 9.54 | $ 9.58 | $ 9.51 | $ 9.56 | ||||
Total investment return (b) | 3.12% | 1.34% | 2.34% | 0.84% | 0.54% | ||||
Ratios (to average net assets)/Supplemental Data: | |||||||||
Net investment income (loss) | 0.89% | 1.58% | 1.61% | 1.36% | 1.04% | ||||
Net expenses | 0.40% | 0.40% | 0.40% | 0.50% | 0.54% | ||||
Expenses (before waiver/reimbursement) | 0.40% | 0.45% | 0.45% | 0.59% | 0.59% | ||||
Portfolio turnover rate | 28% (c) | 94% (c) | 96% | 69% | 85% | ||||
Net assets at end of year (in 000’s) | $ 1,400,328 | $ 412,193 | $ 337,116 | $ 157,945 | $ 164,798 |
‡ | Less than one cent per share. |
(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) | The portfolio turnover rate includes variable rate demand notes. |
82 | MainStay MacKay Short Term Municipal Fund |
Class | Commenced Operations |
Class A | January 2, 2004 |
Class A2 | September 30, 2020 |
Investor Class | February 28, 2008 |
Class I | January 2, 1991 |
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. |
• | Level 1—quoted prices in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including the Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
• 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 |
84 | MainStay MacKay Short Term Municipal Fund |
86 | MainStay MacKay Short Term Municipal Fund |
Liability Derivatives | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized depreciation on futures contracts (a) | $(49,378) | $(49,378) |
Total Fair Value | $(49,378) | $(49,378) |
(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 Change in Unrealized Appreciation (Depreciation) | Interest Rate Contracts Risk | Total |
Futures Contracts | $(49,378) | $(49,378) |
Total Net Change in Unrealized Appreciation (Depreciation) | $(49,378) | $(49,378) |
Average Notional Amount | Total |
Futures Contracts Short (a) | $(30,984,375) |
(a) | Average for the period futures contracts were open during the year. |
Class | Expense | Waived |
Class A | $ 98,424 | $ — |
Class A2 | 8,944 | — |
Investor Class | 25,157 | (10,998) |
Class I | 282,620 | — |
88 | MainStay MacKay Short Term Municipal Fund |
Class A | $16,474,398 | 3.3% |
Class A2 | 25,215 | 0.0‡ |
‡ | Less than one-tenth of a percent. |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments | $1,933,209,356 | $18,353,818 | $(1,076,835) | $17,276,983 |
Ordinary income | Undistributed Tax Exempt Income | Accumulated Capital and Other Gain (Loss) | Other Temporary Differences | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
$— | $435,337 | $(569,964) | $(430,089) | $17,221,176 | $16,656,460 |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $59,217 | $510,747 |
2021 | 2020 | |
Distributions paid from: | ||
Ordinary Income | $ 1,542,687 | $ 40,673 |
Exempt Interest Dividends | 12,277,641 | 8,045,909 |
Total | $13,820,328 | $8,086,582 |
Class A | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 55,435,393 | $ 537,590,830 |
Shares issued to shareholders in reinvestment of distributions | 191,613 | 1,858,325 |
Shares redeemed | (19,979,365) | (194,022,412) |
Net increase (decrease) in shares outstanding before conversion | 35,647,641 | 345,426,743 |
Shares converted into Class A (See Note 1) | 108,609 | 1,052,998 |
Shares converted from Class A (See Note 1) | (359) | (3,489) |
Net increase (decrease) | 35,755,891 | $ 346,476,252 |
Year ended April 30, 2020: | ||
Shares sold | 14,392,027 | $ 138,183,004 |
Shares issued to shareholders in reinvestment of distributions | 167,115 | 1,607,404 |
Shares redeemed | (10,426,586) | (100,270,675) |
Net increase (decrease) in shares outstanding before conversion | 4,132,556 | 39,519,733 |
Shares converted into Class A (See Note 1) | 94,440 | 907,322 |
Shares converted from Class A (See Note 1) | (26,919) | (258,313) |
Net increase (decrease) | 4,200,077 | $ 40,168,742 |
Class A2 | Shares | Amount |
Period ended April 30, 2021: | ||
Shares sold | 9,675,519 | $ 94,128,477 |
Shares issued to shareholders in reinvestment of distributions | 19,140 | 186,379 |
Shares redeemed | (639,807) | (6,236,428) |
Net increase (decrease) | 9,054,852 | $ 88,078,428 |
Investor Class | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 236,452 | $ 2,296,983 |
Shares issued to shareholders in reinvestment of distributions | 2,190 | 21,279 |
Shares redeemed | (195,773) | (1,902,517) |
Net increase (decrease) in shares outstanding before conversion | 42,869 | 415,745 |
Shares converted into Investor Class (See Note 1) | 358 | 3,489 |
Shares converted from Investor Class (See Note 1) | (108,281) | (1,052,998) |
Net increase (decrease) | (65,054) | $ (633,764) |
Year ended April 30, 2020: | ||
Shares sold | 421,609 | $ 4,064,884 |
Shares issued to shareholders in reinvestment of distributions | 4,303 | 41,488 |
Shares redeemed | (322,899) | (3,114,767) |
Net increase (decrease) in shares outstanding before conversion | 103,013 | 991,605 |
Shares converted into Investor Class (See Note 1) | 26,842 | 258,313 |
Shares converted from Investor Class (See Note 1) | (94,228) | (907,322) |
Net increase (decrease) | 35,627 | $ 342,596 |
Class I | Shares | Amount |
Year ended April 30, 2021: | ||
Shares sold | 171,313,052 | $1,661,227,738 |
Shares issued to shareholders in reinvestment of distributions | 613,419 | 5,951,960 |
Shares redeemed | (71,268,307) | (692,253,579) |
Net increase (decrease) | 100,658,164 | $ 974,926,119 |
Year ended April 30, 2020: | ||
Shares sold | 47,548,072 | $ 456,582,492 |
Shares issued to shareholders in reinvestment of distributions | 442,537 | 4,256,269 |
Shares redeemed | (39,971,679) | (384,238,350) |
Net increase (decrease) | 8,018,930 | $ 76,600,411 |
90 | MainStay MacKay Short Term Municipal Fund |
MainStay Funds Trust:
June 24, 2021
92 | MainStay MacKay Short Term Municipal Fund |
94 | MainStay MacKay Short Term Municipal Fund |
96 | MainStay MacKay Short Term Municipal Fund |
98 | MainStay MacKay Short Term Municipal Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 76 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017 |
* | This Trustee is considered to be an “interested person” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund, within the meaning of the 1940 Act because of her affiliation with New York Life Insurance Company, New York Life Investment Management LLC, Candriam Belgium S.A., Candriam Luxembourg S.C.A., IndexIQ Advisors LLC, MacKay Shields LLC, NYL Investors LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail above in the column entitled “Principal Occupation(s) During Past Five Years.” |
100 | MainStay MacKay Short Term Municipal Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Market Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, chair of the Investment committee since 2018. | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007;MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 76 | MainStay VP Funds Trust: Chairman since 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee;MainStay Funds Trust: Trustee and Audit Committee Financial Expert since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 76 | MainStay VP Funds Trust: Trustee and Audit Committee Financial Expert since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee and Audit Committee Financial Expert since 2011; State Farm Associates Funds Trusts: Trustee since 2005 (4 portfolios) | |
Richard H. Nolan, Jr. 1946 | MainStay Funds: Trustee since 2007;MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 76 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015);MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC (since 2018); President, Fidelity Management & Research Company (2009 to 2014); Founder, President and Chief Executive Officer, Geode Capital Management, LLC (2001 to 2009) | 76 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI Inc.: Director since 2017 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994;MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 76 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; and MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011 |
** | Includes prior service as a Director/Trustee of certain predecessor entities to MainStay Funds Trust. |
*** | Includes prior service as a Director of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
102 | MainStay MacKay Short Term Municipal Fund |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds and MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers since 2017 and Senior Managing Director since 2018, NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017**; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2007**; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2010** | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011 and MainStay VP Funds Trust since 2005** | ||
Yi-Chia Kuo 1981 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2020 | Chief Compliance Officer, Index IQ Trust, Index IQ ETF Trust and Index IQ Active ETF Trust since 2020; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2020; Director and Associate General Counsel, New York Life Insurance Company (2015 to 2019) |
* | The officers listed above are considered to be “interested persons” of the MainStay Group of Funds, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund within the meaning of the 1940 Act because of their affiliation with the MainStay Group of Funds, New York Life Insurance Company and/or its affiliates, including New York Life Investment Management LLC, NYLIM Service Company LLC, NYLIFE Securities LLC and/or NYLIFE Distributors LLC, as described in detail in the column captioned “Principal Occupation(s) During Past Five Years.” Officers are elected annually by the Board. |
** | Includes prior service as an Officer of MainStay VP Series Fund, Inc., the predecessor to MainStay VP Funds Trust. |
1.
2. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
3. | An affiliate of New York Life Investment Management LLC. |
1737605MS071-21 | MSSTM11-06/21 |
Item 2. Code of Ethics.
As of the end of the period covered by this report, the Registrant has adopted a code of ethics (the “Code”) that applies to the Registrant’s principal executive officer (“PEO”) and principal financial officer (“PFO”). A copy of the Code is filed herewith. Schedule II of the Code has been amended to name Kevin M. Bopp as the Compliance Officer. The Registrant did not grant any waivers, including implicit waivers, from any provisions of the Code to the PEO or PFO during the period covered by this report.
Item 3. | Audit Committee Financial Expert. |
The Board of Trustees has determined that the Registrant has three audit committee financial experts serving on its Audit Committee. The Audit Committee financial experts are Alan R. Latshaw, David H. Chow and Susan B. Kerley. Mr. Latshaw, Mr. Chow and Ms. Kerley are “independent” as defined by Item 3 of Form N-CSR.
Item 4. | Principal Accountant Fees and Services. |
(a) Audit Fees
The aggregate fees billed for the fiscal year ended April 30, 2021 for professional services rendered by KPMG LLP (“KPMG”) for the audit of the Registrant’s annual financial statements or services that are normally provided by KPMG in connection with statutory and regulatory filings or engagements for that fiscal year were $296,581.
The aggregate fees billed for the fiscal year ended April 30, 2020 for professional services rendered by KPMG for the audit of the Registrant’s annual financial statements or services that are normally provided by KPMG in connection with statutory and regulatory filings or engagements for that fiscal year were $283,600.
(b) Audit-Related Fees
The aggregate fees billed for assurance and related services by KPMG that are reasonably related to the performance of the audit of the Registrant’s financial statements and are not reported under paragraph (a) of this Item were (i) $0 for the fiscal year ended April 30, 2021; and (ii) $0 for the fiscal year ended April 30, 2020.
(c) Tax Fees
The aggregate fees billed for professional services rendered by KPMG for tax compliance, tax advice, and tax planning were (i) $0 during the fiscal year ended April 30, 2021; and (ii) $0 during the fiscal year ended April 30, 2020. These services primarily included preparation of federal, state and local income tax returns and excise tax returns, as well as services relating to excise tax distribution requirements.
(d) All Other Fees
The aggregate fees billed for products and services provided by KPMG, other than the services reported in paragraphs (a) through (c) of this Item were (i) $0 during the fiscal year ended April 30, 2021; and (ii) $0 during the fiscal year ended April 30, 2020.
(e) Pre-Approval Policies and Procedures
(1) | The Registrant’s Audit Committee has adopted pre-approval policies and procedures (the “Procedures”) to govern the Committee’s pre-approval of (i) all audit services and permissible non-audit services to be provided to the Registrant by its independent accountant, and (ii) all permissible non-audit services to be provided by such independent accountant to the Registrant’s investment adviser and to any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant (collectively, the “Service Affiliates”) if the services directly relate to the Registrant’s operations and financial reporting. In accordance with the Procedures, the Audit Committee is responsible for the engagement of the independent accountant to certify the Registrant’s financial statements for each fiscal year. With respect to the pre-approval of non-audit services provided to the Registrant and its Service Affiliates, the Procedures provide that the Audit Committee may annually pre-approve a list of the types of services that may be provided to the Registrant or its Service Affiliates, or the Audit Committee may pre-approve such services on a project-by-project basis as they arise. Unless a type of service has received general pre-approval, it will require specific pre-approval by the Audit Committee if it is to be provided by the independent accountant. The Procedures also permit the Audit Committee to delegate authority to one or more of its members to pre-approve any proposed non-audit services that have not been previously pre-approved by the Audit Committee, subject to the ratification by the full Audit Committee no later than its next scheduled meeting. To date, the Audit Committee has not delegated such authority. |
(2) | With respect to the services described in paragraphs (b) through (d) of this Item 4, no amount was approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. |
(f) There were no hours expended on KPMG’s engagement to audit the Registrant’s financial statements for the most recent fiscal year was attributable to work performed by persons other than KPMG’s full-time, permanent employees.
(g) All non-audit fees billed by KPMG for services rendered to the Registrant for the fiscal years ended April 30, 2021 and April 30, 2020 are disclosed in 4(b)-(d) above.
The aggregate non-audit fees billed by KPMG for services rendered to the Registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the Registrant were approximately (i) $72,995 for the fiscal year ended April 30, 2021; and (ii) $17,314 for the fiscal year ended April 30, 2020.
(h) The Registrant’s Audit Committee has determined that the non-audit services rendered by KPMG for the fiscal year ended April 30, 2021 to the Registrant’s investment adviser and any entity controlling, controlled by, or under common control with the Registrant’s investment adviser that provides ongoing services to the Registrant that were not required to be pre-approved by the Audit Committee because they did not relate directly to the operations and financial reporting of the registrant were compatible with maintaining the respective independence of KPMG during the relevant time period.
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)(1) |
(a)(2) |
(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.
MAINSTAY FUNDS TRUST
By: | /s/ Kirk C. Lehneis | |
Kirk C. Lehneis | ||
President and Principal Executive Officer | ||
Date: | July 16, 2021 |
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 16, 2021 |
By: | /s/ Jack R. Benintende | |
Jack R. Benintende | ||
Treasurer and Principal Financial and Accounting Officer | ||
Date: | July 16, 2021 |
EXHIBIT INDEX
(a)(1) |
(a)(2) |
(b) |