MacKay Shields reports 11.9% stake in Nine Energy Service

Nine Energy Service reports a Schedule 13G showing MacKay Shields LLC and an affiliated NYLI fund beneficially own common stock.

Rhea-AI Filing Summary

Nine Energy Service reports a Schedule 13G showing MacKay Shields LLC and an affiliated NYLI fund beneficially own common stock. MacKay Shields LLC reports 1,662,134 shares (representing 11.91%) and NYLI MacKay High Yield Corporate Bond Fund reports 1,404,300 shares (10.07%) as of March 5, 2026. The filing states these positions reflect shared voting and dispositive power under a voting agreement and that the outstanding share base used for the calculations is 13,950,000 shares as of March 5, 2026.

Insights

Institutional Ownership Analyst

Large institutional holdings reported with shared voting power under a voting agreement.

MacKay Shields LLC and the NYLI fund together report substantial positions: 11.91% and 10.07% respectively, calculated on a March 5, 2026 outstanding base of 13,950,000 shares. The holdings are described as shared voting and dispositive power, not sole control.

These filings identify the advisor relationship and a voting agreement that limits formal sole voting power; subsequent disclosures or amendments would clarify any shifts in voting alignment or further aggregation.

Corporate Governance Specialist

Voting agreement caps exercisable voting at up to 10% for specified matters.

The filing notes a voting agreement dated March 5, 2026 permitting the reporting persons to vote up to 10% of total voting power on certain matters as of the record date. This contractual detail explains why shared, rather than sole, voting power is reported.

Monitor any future amendments or Schedule 13D filings that would change the reported power or disclose coordination with other holders.

Key Figures

Shares outstanding: 13,950,000 shares MacKay Shields holdings: 1,662,134 shares MacKay Shields ownership %: 11.91% +3 more

6 metrics

Shares outstanding 13,950,000 shares as of <date>March 5, 2026</date>

MacKay Shields holdings 1,662,134 shares reported beneficial ownership

MacKay Shields ownership % 11.91% of common stock as of <date>March 5, 2026</date>

NYLI fund holdings 1,404,300 shares reported beneficial ownership

NYLI fund ownership % 10.07% of common stock as of <date>March 5, 2026</date>

Voting agreement cap 10% voting up to 10% of total voting power for certain matters

Key Terms

Beneficially owned, Shared voting power, Voting agreement, Investment adviser

4 terms

Beneficially owned regulatory

"Amount beneficially owned: MacKay Shields LLC - 1,662,134"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared voting power regulatory

"Shared Voting Power 1,662,134.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Voting agreement corporate

"voting agreement with the Issuer dated March 5, 2026"

A voting agreement is a legally binding pact in which shareholders promise to cast their votes the same way on certain corporate matters, such as electing directors or approving a merger. It matters to investors because it changes who controls company decisions and makes outcomes more predictable—like a group of neighbors agreeing in advance to vote the same way on a community rule, it can strengthen or limit the influence of other shareholders and affect the company’s future direction.

Investment adviser regulatory

"MacKay Shields LLC, an investment advisor registered under Section 203"

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does MacKay Shields hold in Nine Energy Service (NINE)?

MacKay Shields LLC beneficially owns 1,662,134 shares, equal to 11.91% of common stock. This percentage is calculated using 13,950,000 shares outstanding as of March 5, 2026, and voting power is reported as shared under a voting agreement.

How much does NYLI MacKay High Yield Corporate Bond Fund own of NINE?

The NYLI MacKay High Yield Corporate Bond Fund beneficially owns 1,404,300 shares, or 10.07% of common stock. The fund's holdings are reported with shared voting and dispositive power, per the March 5, 2026 calculations.

What voting authority do the reporting persons claim in the filing?

The reporting persons state they have shared voting and dispositive power over their reported shares, and reference a voting agreement dated March 5, 2026. That agreement allows voting up to 10% of total voting power on specified matters as of record dates.

On what share count are the ownership percentages based?

All percentage calculations are based on a total of 13,950,000 shares outstanding as of March 5, 2026. The Schedule 13G uses that outstanding share figure to compute the reported 11.91% and 10.07% ownership stakes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/31/2026 - 01:36 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Nine Energy Service, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

65441V200

(CUSIP Number)

03/05/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 65441V200

1

Names of Reporting Persons

MacKay Shields LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,662,134.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,662,134.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,662,134.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.91 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: The reporting persons are party to a voting agreement with the Issuer dated March 5, 2026. This agreement allows the reporting persons to vote up to 10% of the total voting power of all of the outstanding voting securities of the Company on such matter as of the applicable record date after giving effect to any other voting agreement between the Company and any of its shareholders. The percentage reported herein is calculated based on 13,950,000 shares of Common Stock outstanding as of March 5, 2026.

SCHEDULE 13G

CUSIP Number(s): 65441V200

1

Names of Reporting Persons

NYLI MacKay High Yield Corporate Bond Fund

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,404,300.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,404,300.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,404,300.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.07 %

12

Type of Reporting Person (See Instructions)

IV

Comment for Type of Reporting Person: The reporting persons are party to a voting agreement with the Issuer dated March 5, 2026. This agreement allows the reporting persons to vote up to 10% of the total voting power of all of the outstanding voting securities of the Company on such matter as of the applicable record date after giving effect to any other voting agreement between the Company and any of its shareholders. The percentage reported herein is calculated based on 13,950,000 shares of Common Stock outstanding as of March 5, 2026.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Nine Energy Service, Inc.
(b)	Address of issuer's principal executive offices: 2001 KIRBY DRIVE, SUITE 200, HOUSTON, 77019
Item 2.
(a)	Name of person filing: MacKay Shields LLC NYLI MacKay High Yield Corporate Bond Fund
(b)	Address or principal business office or, if none, residence: 299 PARK AVENUE 32ND FLOOR New York, New York 10171
(c)	Citizenship: MacKay Shields LLC - Delaware NYLI MacKay High Yield Corporate Bond Fund - Massachusetts
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 65441V200
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: MacKay Shields LLC - 1,662,134 NYLI MacKay High Yield Corporate Bond Fund - 1,404,300
(b)	Percent of class: 21.98 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: MacKay Shields LLC - 0 NYLI MacKay High Yield Corporate Bond Fund - 0
	(ii) Shared power to vote or to direct the vote: MacKay Shields LLC - 1,662,134 NYLI MacKay High Yield Corporate Bond Fund - 1,404,300
	(iii) Sole power to dispose or to direct the disposition of: MacKay Shields LLC - 0 NYLI MacKay High Yield Corporate Bond Fund - 0
	(iv) Shared power to dispose or to direct the disposition of: MacKay Shields LLC - 1,662,134 NYLI MacKay High Yield Corporate Bond Fund - 1,404,300
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. MacKay Shields LLC, an investment advisor registered under Section 203 of the Investment Advisors Act of 1940 is deemed to be the beneficial owner of 1,662,134 shares of the 11.91% of the Common Stock believed to be outstanding as a result of acting as investment adviser to various clients. All calculations of percentage ownership are based on a total of 13,950,000 shares of Common Stock issued and outstanding as of March 5, 2026. The NYLI MacKay High Yield Corporate Bond Fund, a registered investment company for which MacKay Shields acts as a sub investment adviser, may be deemed to beneficially own 10.07% of the outstanding common stock of the Company. New York Life Investment Management LLC and indirect wholly owned subsidiary of New York Life and an affiliate of MacKay Shields LLC, is the manager of the NYLI MacKay High Yield Corporate Bond Fund.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

MacKay Shields LLC

Signature:	Chris Fitzgerald
Name/Title:	Chief Compliance Officer
Date:	03/31/2026

NYLI MacKay High Yield Corporate Bond Fund

Signature:	Chris Fitzgerald
Name/Title:	Chief Compliance Officer
Date:	03/31/2026