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MARINER INVESTMENT GROUP LLC

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13F filer, CIK 1096978, NEW YORK, NY

MARINER INVESTMENT GROUP LLC reported $281,699,472 across 66 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-07-16. Its ten largest share positions make up 85.64% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001085146-25-003883

Period
2025-06-30
Reported value
$282M
Holdings
66
Top 10 weight
85.64%
New
43
Sold out
13

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IBITnew+831,680$50.9M
HYGadded+171,600$13.8M
LQDnew+123,200$13.5M
VOOnew+23,310$13.2M
DUKnew+50,000$5.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BKLNexited-3,081,946-$63.8M
SPYreduced-44,826-$27.7M
JFRreduced-830,456-$7.03M
CEGreduced-13,500-$4.36M
TLTexited-41,000-$3.73M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001085146-25-003883, largest first. % of portfolio is the value over $276,807,686, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 439,947 shares; 2024Q4: 759,678 shares; 2025Q1: 174,192 shares; 2025Q2: 129,366 shares 129,366$79.9M28.88%-44,826Timeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 831,680 shares 831,680$50.9M18.39%newTimeline
JFRNUVEEN FLOATING RATE INCOMEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,790,000 shares; 2025Q2: 3,959,544 shares 3,959,544$33.5M12.12%-830,456Timeline
HYGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,437 shares; 2024Q4: not reported; 2025Q1: 161,000 shares; 2025Q2: 332,600 shares 332,600$26.8M9.69%+171,600Timeline
LQDISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 123,200 shares 123,200$13.5M4.88%newTimeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 23,310 shares 23,310$13.2M4.78%newTimeline
DUKDUKE ENERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 50,000 shares 50,000$5.9M2.13%newTimeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,500 shares; 2024Q4: not reported; 2025Q1: 44,000 shares; 2025Q2: 25,000 shares 25,000$4.85M1.75%-19,000Timeline
GLWCORNING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 55,000 shares; 2025Q1: 60,000 shares; 2025Q2: 80,000 shares 80,000$4.21M1.52%+20,000Timeline
ETRENTERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 15,000 shares; 2025Q1: 20,000 shares; 2025Q2: 50,000 shares 50,000$4.16M1.5%+30,000Timeline
WMBWILLIAMS COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 30,000 shares; 2025Q2: 55,000 shares 55,000$3.45M1.25%+25,000Timeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 15,000 shares 15,000$3.27M1.18%newTimeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,000 shares; 2024Q4: 10,000 shares; 2025Q1: 40,000 shares; 2025Q2: 49,910 shares 49,910$2.91M1.05%+9,910Timeline
ADARRAY DIGITAL INFRASTRUCTUREQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 31,000 shares; 2025Q1: 35,005 shares; 2025Q2: 45,005 shares 45,005$2.88M1.04%+10,000Timeline
PWRQUANTA SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,000 shares 6,000$2.27M0.82%newTimeline
VLOVALERO ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 12,500 shares; 2025Q1: 12,500 shares; 2025Q2: 15,000 shares 15,000$2.02M0.73%+2,500Timeline
EIMEATON VANCE MUN BD FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 200,000 shares 200,000$1.93M0.7%newTimeline
TRGPTARGA RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares 10,000$1.74M0.63%newTimeline
LECOLINCOLN ELEC HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,000 shares 7,000$1.45M0.52%newTimeline
RRCRANGE RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,000 shares; 2024Q4: 45,000 shares; 2025Q1: 85,000 shares; 2025Q2: 35,000 shares 35,000$1.42M0.51%-50,000Timeline
PSXPHILLIPS 66Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares 10,000$1.19M0.43%newTimeline
RWTREDWOOD TRUST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 150,000 shares; 2025Q2: 200,000 shares 200,000$1.18M0.43%+50,000Timeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,000 shares; 2024Q4: 30,000 shares; 2025Q1: 25,000 shares; 2025Q2: 25,100 shares 25,100$1.01M0.37%+100Timeline
EXPEAGLE MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000 shares; 2024Q4: 10,500 shares; 2025Q1: not reported; 2025Q2: 5,000 shares 5,000$1.01M0.37%newTimeline
CEGCONSTELLATION ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,000 shares; 2025Q1: 16,500 shares; 2025Q2: 3,000 shares 3,000$968K0.35%-13,500Timeline
ODFLOLD DOMINION FREIGHT LINE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,750 shares 5,750$933K0.34%newTimeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,000 shares; 2025Q1: not reported; 2025Q2: 7,500 shares 7,500$877K0.32%newTimeline
MTZMASTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,000 shares 5,000$852K0.31%newTimeline
PEGPUBLIC SVC ENTERPRISE GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares 10,000$842K0.3%newTimeline
KRKROGER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 20,000 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares 10,000$717K0.26%0Timeline
VMIVALMONT INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,000 shares 2,000$653K0.24%newTimeline
RITMRITHM CAPITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 50,000 shares 50,000$564K0.2%newTimeline
LUMNLUMEN TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 100,000 shares; 2025Q1: 25,000 shares; 2025Q2: 75,000 shares 75,000$328K0.12%+50,000Timeline
UNITI GROUP INCUNITI GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 75,000 shares 75,000$324K0.12%new
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,000 shares 3,000$275K0.1%newTimeline
MLMMARTIN MARIETTA MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 500 shares 500$274K0.1%newTimeline
NENOBLE CORP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares 10,000$266K0.1%newTimeline
VMCVULCAN MATLS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,000 shares 1,000$261K0.09%newTimeline
CNMCORE & MAIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,125 shares 4,125$249K0.09%newTimeline
ULCCFRONTIER GROUP HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 80,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 60,000 shares 60,000$218K0.08%newTimeline
VISNVISTANCE NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 25,000 shares 25,000$207K0.07%newTimeline
DANDANA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares 10,000$172K0.06%newTimeline
BRLSWBOREALIS FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,300 shares; 2024Q4: 23,300 shares; 2025Q1: 23,300 shares; 2025Q2: 23,300 shares 23,300$2.1K<0.01%0Timeline
CYCUWCYCURION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,000 shares; 2024Q4: 30,000 shares; 2025Q1: 30,000 shares; 2025Q2: 30,000 shares 30,000$1.8K<0.01%0Timeline
BOLT PROJECTS HLDSBOLT PROJECTS HLDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,150 shares; 2024Q4: 19,150 shares; 2025Q1: 19,150 shares; 2025Q2: 19,150 shares 19,150$496<0.01%0

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
VSTVISTRA CORP Stockcall50,000$895Knew
CEGCONSTELLATION ENERGY CORP Stockcall45,000$878Knew
RRCRANGE RES CORP Stockcall300,000$712Knew
BLDRBUILDERS FIRSTSOURCE INC Stockput150,000$502Knew
DOWDOW HLDGS INC Stockput150,000$416Knew
DHID R HORTON INC Stockput100,000$320Knew
OKEONEOK INC NEW COMput150,000$254Knew
APAAPA CORPORATION Stockcall100,000$165Knew
EIXEDISON INTL Stockput52,500$160Knew
EQTEQT CORP Stockcall100,000$155Knew
LENLENNAR CORP Stockput56,100$133Knew
TLTISHARES TR 20 YR TR BD ETFcall200,000$109Knew
SPYSTATE STR SPDR S&P 500 ETF T SHSput70,000$85.8K+30,000
LYBLYONDELLBASELL INDUSTRIES NV Stockput50,000$62.5Knew
CNMCORE & MAIN INC Stockcall27,500$18.6Knew
NVDANVIDIA CORPORATION COMput100,000$12.5K0
DANDANA INC COMcall25,000$7.5Knew
HYGISHARES TR IBOXX HI YD ETFput415,900$6.38K-184,100

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
REDFIN CORPREDFIN CORP NOTE 0.500% 4/0principal1,645,000$1.48M0
REDWOOD TRUST INCREDWOOD TRUST INC Convertibleprincipal1,300,000$1.29Mnew
WOLFSPEED INCWOLFSPEED INC NOTE 1.750% 5/0principal1,000,000$258Knew

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BKLNINVESCO EXCH TRADED FD TR II3,081,946$63.8Mshares
TLTISHARES TR41,000$3.73Mshares
APAAPA CORPORATION125,000$2.63Mshares
XLUSELECT SECTOR SPDR TR25,000$1.97Mshares
FTAIFTAI AVIATION LTD10,000$1.11Mshares
FIXCOMFORT SYS USA INC1,000$322Kshares
RIGTRANSOCEAN LTD100,000$317Kshares
ARCCARES CAPITAL CORP1,000,000$175Kput
TXNTEXAS INSTRS INC25,000$171Kput
XLUSELECT SECTOR SPDR TR450,000$90Kcall
XLFSELECT SECTOR SPDR TR45,000$50Kput
XLUSELECT SECTOR SPDR TR450,000$49.5Kput
TAT&T INC110,000$41.8Kput

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001085146-25-003883 base2025-07-16acceptance time not in the bulk data set