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MARINER INVESTMENT GROUP LLC

500 MAMARONECK AVENUE, 4TH FLOOR, HARRISON, NY 10528 • 914-670-4300

Q2 2025 · Filed 2025-07-16
Market Value
$273M
+9.2%
Holdings
49
+9
New Purchases
25
Added To
10
Closed
6
Reduced
5
Top 10 Concentration
86.7%
Turnover
63.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IBIT 18.62% 0.00% +18.62% $51M
LQD 4.94% 0.00% +4.94% $14M
VOO 4.84% 0.00% +4.84% $13M
HYG 9.81% 5.07% +4.74% $27M
DUK 2.16% 0.00% +2.16% $6M
FERG 1.19% 0.00% +1.19% $3M
ETR 1.52% 0.68% +0.84% $4M
PWR 0.83% 0.00% +0.83% $2M
EIM 0.71% 0.00% +0.71% $2M
TRGP 0.64% 0.00% +0.64% $2M
WMB 1.26% 0.72% +0.55% $3M
LECO 0.53% 0.00% +0.53% $1M
GLW 1.54% 1.10% +0.44% $4M
PSX 0.44% 0.00% +0.44% $1M
EXP 0.37% 0.00% +0.37% $1M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BKLN 0.00% 25.47% -25.47% $0
SPY 29.23% 38.89% -9.67% $80M
JFR 12.26% 16.19% -3.93% $34M
TLT 0.00% 1.49% -1.49% $0
APA 0.00% 1.05% -1.05% $0
CEG 0.35% 1.33% -0.97% $968K
RRC 0.52% 1.35% -0.83% $1M
XLU 0.00% 0.79% -0.79% $0
VST 1.77% 2.06% -0.29% $5M
FIX 0.00% 0.13% -0.13% $0
RIG 0.00% 0.13% -0.13% $0
AR 0.37% 0.40% -0.03% $1M
KR 0.26% 0.27% -0.01% $717K
BSLKW 0.00% 0.00% -0.00% $496

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 69.4%
Real Estate 13.7%
Technology 4.9%
Industrials 3.8%
Energy 3.5%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 2 $93M 34.1%
Large Cap 30 $136M 49.8%
Mid Cap 11 $7M 2.6%
Small Cap 4 $37M 13.5%
Micro Cap 2 $2K 0.0%

Portfolio Analytics

Avg Market Cap
$82.1B
Median Market Cap
$30.2B
Avg P/E
27.9
Median P/E
20.7
Avg Dividend Yield
0.06%
Avg Beta
1.03
# Stocks
39
# ETFs / Funds
10

Top Holdings (49 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SPY 29.23% 129,366 $80M $617.85 -$18M -44,826 -25.7%
2 IBIT 18.62% 831,680 $51M $61.21 +831,680 NEW
3 JFR 12.26% 3,959,544 $34M $8.47 -$7M -830,456 -17.3%
4 HYG 9.81% 332,600 $27M $80.65 $14M +171,600 +106.6%
5 LQD 4.94% 123,200 $14M $109.61 +123,200 NEW
6 VOO 4.84% 23,310 $13M $568.03 +23,310 NEW
7 DUK 2.16% 50,000 $6M $118.00 +50,000 NEW
8 VST 1.77% 25,000 $5M $193.81 -$322K -19,000 -43.2%
9 GLW 1.54% 80,000 $4M $52.59 $1M +20,000 +33.3%
10 ETR 1.52% 50,000 $4M $83.12 $2M +30,000 +150.0%
11 WMB 1.26% 55,000 $3M $62.81 $2M +25,000 +83.3%
12 FERG 1.19% 15,000 $3M $217.75 +15,000 NEW
13 EQT 1.06% 49,910 $3M $58.32 $774K +9,910 +24.8%
14 USM 1.05% 45,005 $3M $63.97 $458K +10,000 +28.6%
15 PWR 0.83% 6,000 $2M $378.08 +6,000 NEW
16 VLO 0.74% 15,000 $2M $134.42 $365K +2,500 +20.0%
17 EIM 0.71% 200,000 $2M $9.67 +200,000 NEW
18 TRGP 0.64% 10,000 $2M $174.08 +10,000 NEW
19 LECO 0.53% 7,000 $1M $207.32 +7,000 NEW
20 RRC 0.52% 35,000 $1M $40.67 -$2M -50,000 -58.8%
21 PSX 0.44% 10,000 $1M $119.30 +10,000 NEW
22 RWT 0.43% 200,000 $1M $5.91 $272K +50,000 +33.3%
23 AR 0.37% 25,100 $1M $40.28 $28 +100 +0.4%
24 EXP 0.37% 5,000 $1M $202.11 +5,000 NEW
25 CEG 0.35% 3,000 $968K $322.76 -$2M -13,500 -81.8%
26 ODFL 0.34% 5,750 $933K $162.30 +5,750 NEW
27 EXE 0.32% 7,500 $877K $116.94 +7,500 NEW
28 MTZ 0.31% 5,000 $852K $170.43 +5,000 NEW
29 PEG 0.31% 10,000 $842K $84.18 +10,000 NEW
30 KR 0.26% 10,000 $717K $71.73 $40K
31 VMI 0.24% 2,000 $653K $326.57 +2,000 NEW
32 RITM-PD 0.21% 50,000 $564K $11.29 +50,000 NEW
33 LUMN 0.12% 75,000 $328K $4.38 $230K +50,000 +200.0%
34 CRH.L 0.10% 3,000 $275K $91.80 +3,000 NEW
35 MLM 0.10% 500 $274K $548.96 +500 NEW
36 NE 0.10% 10,000 $266K $26.55 +10,000 NEW
37 VMC 0.10% 1,000 $261K $260.82 +1,000 NEW
38 CNM 0.09% 4,125 $249K $60.35 +4,125 NEW
39 ULCC 0.08% 60,000 $218K $3.63 +60,000 NEW
40 COMM 0.08% 25,000 $207K $8.28 +25,000 NEW
41 DAN 0.06% 10,000 $172K $17.15 +10,000 NEW
42 WAVSW —% 30,000 $2K $0.06 $600
43 BSLKW —% 19,150 $496 $0.03 -$79
44 XLU —% -$2M -25,000 -100.0% SOLD
45 TLT —% -$4M -41,000 -100.0% SOLD
46 APA —% -$3M -125,000 -100.0% SOLD
47 FIX —% -$322K -1,000 -100.0% SOLD
48 RIG —% -$317K -100,000 -100.0% SOLD
49 BKLN —% -$64M -3,081,946 -100.0% SOLD

Options Breakdown

9 Calls $3M Call Value 15 Puts $2M Put Value 0.66 P/C Ratio

Top Calls

SymbolSharesValueStatus
VST 50,000 $895K NEW
CEG 45,000 $878K NEW
RRC 300,000 $712K NEW
APA 100,000 $165K NEW
EQT 100,000 $155K NEW
TLT 200,000 $109K NEW
CNM 27,500 $19K NEW
DAN 25,000 $8K NEW
XLU $0 SOLD

Top Puts

SymbolSharesValueStatus
BLDR 150,000 $502K NEW
DOW 150,000 $416K NEW
DHI 100,000 $320K NEW
OKE 150,000 $254K NEW
EIX 52,500 $160K NEW
LEN 56,100 $133K NEW
SPY 70,000 $86K
LYB 50,000 $62K NEW
NVDA 100,000 $12K
HYG 415,900 $6K

New Positions

SymbolValue% Port
IBIT $51M 18.62%
LQD $14M 4.94%
VOO $13M 4.84%
DUK $6M 2.16%
FERG $3M 1.19%
PWR $2M 0.83%
EIM $2M 0.71%
TRGP $2M 0.64%
LECO $1M 0.53%
PSX $1M 0.44%
EXP $1M 0.37%
ODFL $933K 0.34%
EXE $877K 0.32%
MTZ $852K 0.31%
PEG $842K 0.31%

Sold Out Positions

SymbolValue% Port
RIG —%
APA —%
BKLN —%
TLT —%
FIX —%
XLU —%
View SEC EDGAR Filings for MARINER INVESTMENT GROUP LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms