MainStay VP Floating Rate Portfolio
Data updated: 2026-08-24
C000025806 — MainStay VP Floating Rate Portfolio. Short Corporate Bond · $1.13B AUM · 0.64% expense ratio. Holdings, fees, performance and SEC filings.
C000025806 Fund Overview
MainStay VP Floating Rate Portfolio is a US mutual fund managed by Mainstay Vp Funds Trust, categorised as Short Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Mainstay Vp Funds Trust
- Category: Short Corporate Bond
- Assets under management: $1.13B
- 1-year return: 3.6%
- SEC CIK: 0000887340
- SEC series ID: S000009438
- Share class ID: C000025806
C000025806 Investment Objective and Strategy
MainStay VP Floating Rate Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Mainstay Vp Funds Trust.
Investment objective
The Portfolio seeks high current income.
Principal investment strategy
The Portfolio, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a portfolio of floating rate loans and other floating rate debt securities. Floating rate securities are debt instruments issued by companies or other entities that pay a floating rate of interest, which resets periodically. The Portfolio may also purchase fixed-income and variable rate debt securities and money market securities or instruments. When NYL Investors LLC, the Portfolio's Subadvisor, believes that market or economic conditions are unfavorable to investors, up to 100% of the Portfolio's assets may be invested in money market or short-term debt securities. The Subadvisor may also invest in these types of securities or hold a higher than ordinary level of cash, while looking for suitable investment opportunities or to maintain an appropriate level of liquidity.
The Portfolio may invest up to 25% of its total assets in foreign securities which are generally U.S. dollar-denominated loans and other debt securities issued by one or more non-U.S. borrower(s) without a U.S. domiciled co-borrower. An issuer of a security is considered to be a U.S. or foreign issuer based on the issuers country of risk (or similar designation) as determined by a third party such as Bloomberg. Investment Process: The Subadvisor seeks to identify investment opportunities based on the financial condition and competitiveness of individual companies. The Subadvisor seeks to invest in companies with a high margin of safety that are leaders in industries with high barriers to entry. The Subadvisor prefers companies with positive free cash flow, solid asset coverage and management teams with strong track records.
In virtually every phase of the investment process, the Subadvisor attempts to control risk and limit defaults. Floating rate loans may offer a favorable yield spread over other short-term debt alternatives. Historically, floating rate loans have displayed little correlation to the movements of U.S. common stocks, high-grade bonds and U.S. government securities. Securities that are rated below investment grade by a nationally recognized statistical rating organization (NRSRO) (such as securities rated lower than BBB- and Baa3), commonly referred to as high-yield securities or junk bonds. Floating rate loans are speculative investments and are usually rated below investment grade by an NRSRO. They typically have less credit risk and historically have had lower default rates than junk bonds.
These loans are typically the most senior source of capital in a borrower's capital structure and usually have certain of the borrower's assets pledged as collateral. Floating rate loans feature rates that reset regularly, maintaining a fixed spread over the Secured Overnight Financing Rate or another reference rate or benchmark. The interest rates for floating rate loans typically reset quarterly, although rates on some loans may adjust at other intervals. Floating rate loans mature, on average, in five to seven years, but loan maturity can be as long as nine years. The Subadvisors investment process relies on a comprehensive fundamental investment discipline, including, but not limited to, consideration of environmental, social and governance (ESG) factors that may be material to a companys performance and prospects.
In addition to internal research, the Subadvisor may use third-party ESG data to compare internal views with external perspectives. The Subadvisor may reduce or eliminate the Portfolio's position in a holding if it no longer believes the holding will contribute to meeting the investment objective of the Portfolio. In considering whether to sell a holding, the Subadvisor may evaluate, among other things, meaningful changes in the issuer's financial condition and competitiveness. The Subadvisor continually evaluates market factors and comparative metrics to determine relative value.
C000025806 Holdings
Top 10 holdings of MainStay VP Floating Rate Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| United States of America | 1.51% |
| Invesco Senior Loan ETF | 0.95% |
| TransDigm, Inc. | 0.84% |
| McAfee Corp. | 0.77% |
| Hologic, Inc. | 0.77% |
| Indy U.S. Holdco LLC | 0.71% |
| AthenaHealth Group, Inc. | 0.68% |
| SCIH Salt Holdings, Inc. | 0.63% |
| Allied Universal Holdco LLC | 0.63% |
| Chariot Buyer LLC | 0.62% |
C000025806 Portfolio Allocation
Asset-class allocation of MainStay VP Floating Rate Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Loans | 88.7% |
| Fixed Income | 6.0% |
| Securitized | 3.5% |
| Cash & Equivalents | 3.1% |
| Other | 1.3% |
| Equity | 0.2% |
C000025806 Performance
Total returns for C000025806 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.1% |
| 1 year | 3.6% |
| 3 years (annualised) | 6.7% |
| 5 years (annualised) | 5.2% |
C000025806 Risk Information
Risk metrics for C000025806, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.8%
C000025806 Costs and Fees
C000025806 costs about $64 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.64%
- Gross expense ratio: 0.64%
- Portfolio turnover: 30%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000025806 Cashflows
Over the 12 months to 2026-06, MainStay VP Floating Rate Portfolio had net inflows of $19.38M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$780.90K |
| 2026-05 | $2.57M |
| 2026-04 | −$9.23M |
| 2026-03 | −$8.16M |
| 2026-02 | −$3.57M |
| 2026-01 | −$8.82M |
C000025806 Debt Constituents
Largest debt holdings of MainStay VP Floating Rate Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Newell Brands, Inc. | 0.23% |
| Velocity Vehicle Group LLC | 0.21% |
| Ford Motor Credit Co. LLC | 0.18% |
| NOVA Chemicals Corp. | 0.18% |
| CRC Insurance Group, LLC | 0.18% |
| JetBlue Airways Corp. | 0.18% |
| ION Platform Finance US, Inc. | 0.17% |
| Zegona Finance plc | 0.17% |
| Univision Communications, Inc. | 0.16% |
| CP Atlas Buyer, Inc. | 0.15% |
C000025806 Prospectus and SEC Filings
Official MainStay VP Floating Rate Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-16
- Prospectus (485BPOS) — filed 2025-04-16
- Prospectus (485BPOS) — filed 2024-04-19
- Portfolio holdings (N-PORT) — filed 2026-08-24
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-13
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Short Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.