# MARINER INVESTMENT GROUP LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1096978. Source: https://holderbook.com/funds/1096978-mariner-investment-group-llc/

- Reported value: $463.1M
- Positions: 112
- Weight of the ten largest: 72.7%
- Filed: 2026-07-27

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $104.2M | 3,129,352 | 22.5% | 5 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $57.4M | 76,475 | 12.4% | 26 |
| ALIBABA GROUP HLDG LTD | - | $35.4M | 30,000,000 | 7.7% | 4 |
| FLUOR CORP | - | $33.3M | 25,100,000 | 7.2% | 4 |
| DOORDASH INC | - | $24.7M | 25,000,000 | 5.3% | 1 |
| GLOBAL PMTS INC | - | $22.5M | 25,000,000 | 4.9% | 2 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $19.6M | 0 | 4.2% | 1 |
| RIVIAN AUTOMOTIVE INC | - | $16.0M | 15,000,000 | 3.5% | 1 |
| RITHM CAPITAL CORP | [RITM](https://holderbook.com/stocks/RITM/) | $12.5M | 1,332,583 | 2.7% | 5 |
| AKAMAI TECHNOLOGIES INC | - | $11.0M | 7,500,000 | 2.4% | 1 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $8.3M | 101,199 | 1.8% | 3 |
| LIVE NATION ENTERTAINMENT IN | - | $6.0M | 5,000,000 | 1.3% | 3 |
| CHIMERA INVT CORP | [CIM](https://holderbook.com/stocks/CIM/) | $5.1M | 378,899 | 1.1% | 4 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $4.9M | 45,454 | 1.1% | 1 |
| ENTERGY CORP NEW | [ETR](https://holderbook.com/stocks/ETR/) | $4.6M | 40,000 | 1.0% | 7 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $4.2M | 53,317 | 0.9% | 2 |
| LINCOLN ELEC HLDGS INC | [LECO](https://holderbook.com/stocks/LECO/) | $4.2M | 15,705 | 0.9% | 5 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $4.1M | 55,000 | 0.9% | 6 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $3.6M | 14,000 | 0.8% | 8 |
| SHIFT4 PMTS INC | [FOURPRA](https://holderbook.com/stocks/FOURPRA/) | $3.4M | 55,000 | 0.7% | 1 |
| MASTEC INC | [MTZ](https://holderbook.com/stocks/MTZ/) | $3.3M | 8,000 | 0.7% | 5 |
| SHIFT4 PMTS INC | [FOUR](https://holderbook.com/stocks/FOUR/) | $3.1M | 50,000 | 0.7% | 4 |
| GRUPO AEROMEXICO SAB DE CV | [AERO](https://holderbook.com/stocks/AERO/) | $3.0M | 169,280 | 0.7% | 3 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $2.8M | 12,000 | 0.6% | 1 |
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $2.8M | 80,000 | 0.6% | 1 |
| REDWOOD TRUST INC | [RWT](https://holderbook.com/stocks/RWT/) | $2.6M | 550,361 | 0.6% | 6 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $2.5M | 24,600 | 0.5% | 9 |
| COHERENT CORP | [COHR](https://holderbook.com/stocks/COHR/) | $2.4M | 0 | 0.5% | 2 |
| ISHARES TR | [IEI](https://holderbook.com/stocks/IEI/) | $2.4M | 20,551 | 0.5% | 2 |
| QNITY ELECTRONICS INC | [Q](https://holderbook.com/stocks/Q/) | $2.2M | 4,000 | 0.5% | 2 |
| CIENA CORP | [CIEN](https://holderbook.com/stocks/CIEN/) | $2.1M | 0 | 0.5% | 1 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $2.1M | 22,596 | 0.5% | 1 |
| PENNYMAC CORP | - | $2.0M | 2,000,000 | 0.4% | 4 |
| MFA FINL INC | [MFA](https://holderbook.com/stocks/MFA/) | $2.0M | 210,000 | 0.4% | 2 |
| PENNYMAC MTG INVT TR | [PMT](https://holderbook.com/stocks/PMT/) | $2.0M | 180,000 | 0.4% | 2 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $2.0M | 1,000 | 0.4% | 1 |
| REDWOOD TRUST INC | - | $1.8M | 1,800,000 | 0.4% | 5 |
| TOLL BROTHERS INC | [TOL](https://holderbook.com/stocks/TOL/) | $1.6M | 10,000 | 0.4% | 1 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $1.6M | 18,080 | 0.4% | 1 |
| REDFIN CORP | - | $1.6M | 1,645,000 | 0.3% | 7 |
| BRIGHTHOUSE FINL INC | [BHF](https://holderbook.com/stocks/BHF/) | $1.6M | 25,000 | 0.3% | 1 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $1.5M | 750 | 0.3% | 1 |
| IREN LIMITED | [IREN](https://holderbook.com/stocks/IREN/) | $1.4M | 30,000 | 0.3% | 1 |
| LUMEN TECHNOLOGIES INC | [LUMN](https://holderbook.com/stocks/LUMN/) | $1.3M | 175,000 | 0.3% | 7 |
| DYNEX CAP INC | [DX](https://holderbook.com/stocks/DX/) | $1.2M | 95,000 | 0.3% | 2 |
| ISHARES TR | [IGV](https://holderbook.com/stocks/IGV/) | $1.1M | 12,500 | 0.2% | 4 |
| RANGE RES CORP | [RRC](https://holderbook.com/stocks/RRC/) | $1.1M | 30,000 | 0.2% | 8 |
| ENTEGRIS INC | [ENTG](https://holderbook.com/stocks/ENTG/) | $1.1M | 0 | 0.2% | 2 |
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $1.1M | 20,000 | 0.2% | 3 |
| LYONDELLBASELL INDUSTRIES NV | [LYB](https://holderbook.com/stocks/LYB/) | $1.0M | 0 | 0.2% | 1 |
| SABRE CORP | [SABR](https://holderbook.com/stocks/SABR/) | $836.0K | 400,000 | 0.2% | 1 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $822.7K | 7,264 | 0.2% | 2 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $790.1K | 0 | 0.2% | 3 |
| WIX COM LTD | [WIX](https://holderbook.com/stocks/WIX/) | $777.8K | 17,144 | 0.2% | 2 |
| KARMAN HLDGS INC | [KRMN](https://holderbook.com/stocks/KRMN/) | $765.9K | 15,000 | 0.2% | 2 |
| OLIN CORP | [OLN](https://holderbook.com/stocks/OLN/) | $665.5K | 0 | 0.1% | 4 |
| CORE SCIENTIFIC INC NEW | [CORZ](https://holderbook.com/stocks/CORZ/) | $639.8K | 25,000 | 0.1% | 2 |
| DOW HLDGS INC | [DOW](https://holderbook.com/stocks/DOW/) | $620.7K | 0 | 0.1% | 5 |
| CIPHER DIGITAL INC | [CIFR](https://holderbook.com/stocks/CIFR/) | $612.5K | 25,000 | 0.1% | 1 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $607.5K | 0 | 0.1% | 2 |
| ON SEMICONDUCTOR CORP | - | $603.8K | 500,000 | 0.1% | 4 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $587.3K | 5,000 | 0.1% | 1 |
| CROWN HLDGS INC | [CCK](https://holderbook.com/stocks/CCK/) | $559.1K | 5,000 | 0.1% | 3 |
| AES CORP | [AES](https://holderbook.com/stocks/AES/) | $513.1K | 35,000 | 0.1% | 2 |
| SOLSTICE ADVANCED MATLS INC | [SOLS](https://holderbook.com/stocks/SOLS/) | $502.9K | 0 | 0.1% | 2 |
| COREWEAVE INC | [CRWV](https://holderbook.com/stocks/CRWV/) | $497.7K | 5,000 | 0.1% | 1 |
| FLEX LTD | [FLEX](https://holderbook.com/stocks/FLEX/) | $486.2K | 3,000 | 0.1% | 1 |
| WOLFSPEED INC | [WOLF](https://holderbook.com/stocks/WOLF/) | $482.5K | 10,000 | 0.1% | 4 |
| EXPRO GROUP HOLDINGS NV | [XPRO](https://holderbook.com/stocks/XPRO/) | $443.1K | 30,000 | 0.1% | 4 |
| IHEARTMEDIA INC | [IHRT](https://holderbook.com/stocks/IHRT/) | $437.9K | 102,064 | 0.1% | 2 |
| INVESCO EXCH TRADED FD TR II | [BKLN](https://holderbook.com/stocks/BKLN/) | $421.2K | 0 | 0.1% | 2 |
| TWO HARBORS INVENTMENT CORPO | [TWO](https://holderbook.com/stocks/TWO/) | $406.8K | 32,776 | 0.1% | 2 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $405.5K | 1,500 | 0.1% | 3 |
| TPG MTG INVTS TR INC | [MITT](https://holderbook.com/stocks/MITT/) | $380.9K | 48,094 | 0.1% | 2 |
| NOBLE CORP PLC | [NE](https://holderbook.com/stocks/NE/) | $373.0K | 10,000 | 0.1% | 5 |
| TELEPHONE & DATA SYS INC | [TDS](https://holderbook.com/stocks/TDS/) | $370.1K | 10,000 | 0.1% | 3 |
| NOKIA CORP | [NOK](https://holderbook.com/stocks/NOK/) | $365.0K | 0 | 0.1% | 1 |
| PACKAGING CORP AMER | [PKG](https://holderbook.com/stocks/PKG/) | $357.4K | 1,500 | 0.1% | 2 |
| USA RARE EARTH INC | [USAR](https://holderbook.com/stocks/USAR/) | $323.7K | 15,000 | 0.1% | 1 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $286.0K | 0 | 0.1% | 1 |
| AEVEX CORP | [AVEX](https://holderbook.com/stocks/AVEX/) | $282.6K | 13,528 | 0.1% | 1 |
| CPI CARD GROUP INC | [PMTS](https://holderbook.com/stocks/PMTS/) | $271.2K | 13,050 | 0.1% | 2 |
| POST HLDGS INC | [POST](https://holderbook.com/stocks/POST/) | $266.2K | 0 | 0.1% | 4 |
| TOWER SEMICONDUCTOR LTD | [TSEM](https://holderbook.com/stocks/TSEM/) | $260.6K | 1,000 | 0.1% | 1 |
| FS KKR CAP CORP | [FSK](https://holderbook.com/stocks/FSK/) | $257.5K | 0 | 0.1% | 4 |
| ENPHASE ENERGY INC | [ENPH](https://holderbook.com/stocks/ENPH/) | $246.2K | 5,000 | 0.1% | 1 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $235.5K | 0 | 0.1% | 3 |
| ARES MANAGEMENT CORPORATION | [ARES](https://holderbook.com/stocks/ARES/) | $222.0K | 0 | 0.0% | 1 |
| ANGEL OAK MORTGAGE REIT INC | [AOMR](https://holderbook.com/stocks/AOMR/) | $161.2K | 17,754 | 0.0% | 2 |
| STMICROELECTRONICS N V | [STM](https://holderbook.com/stocks/STM/) | $161.0K | 0 | 0.0% | 1 |
| LENNAR CORP | [LEN](https://holderbook.com/stocks/LEN/) | $151.8K | 0 | 0.0% | 3 |
| OAKTREE SPECIALTY LENDING | [OCSL](https://holderbook.com/stocks/OCSL/) | $136.8K | 0 | 0.0% | 2 |
| BLACKSTONE SECD LENDING FD | [BXSL](https://holderbook.com/stocks/BXSL/) | $105.6K | 0 | 0.0% | 3 |
| ARES CAPITAL CORP | [ARCC](https://holderbook.com/stocks/ARCC/) | $95.0K | 0 | 0.0% | 1 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $94.5K | 0 | 0.0% | 1 |
| GOLUB CAP BDC INC | [GBDC](https://holderbook.com/stocks/GBDC/) | $87.5K | 0 | 0.0% | 2 |
| IREN LIMITED | [IREN](https://holderbook.com/stocks/IREN/) | $69.0K | 0 | 0.0% | 1 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $55.4K | 0 | 0.0% | 3 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $47.4K | 0 | 0.0% | 1 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $40.0K | 0 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2026 | +2.0% | -4.6% | +6.6% | 94% |
| Q4 2025 | -12.2% | +2.4% | -14.6% | 79% |
| Q3 2025 | +5.1% | +7.8% | -2.7% | 98% |
| Q2 2025 | +6.7% | +10.5% | -3.7% | 99% |
| Q1 2025 | -4.5% | -4.6% | +0.0% | 99% |
| Q4 2024 | +1.8% | +2.1% | -0.3% | 98% |
| Q3 2024 | +3.2% | +5.4% | -2.3% | 100% |
| Q2 2024 | +2.2% | +4.0% | -1.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $463.1M | 112 |
| Q1 2026 | $345.9M | 100 |
| Q4 2025 | $1.7B | 101 |
| Q3 2025 | $330.6M | 69 |
| Q2 2025 | $281.7M | 58 |
| Q1 2025 | $254.2M | 32 |
| Q4 2024 | $504.6M | 39 |
| Q3 2024 | $371.3M | 26 |
| Q2 2024 | $462.9M | 20 |
| Q1 2024 | $321.9M | 25 |
| Q4 2023 | $370.2M | 25 |
| Q1 2023 | $3.3M | 23 |