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MARINER INVESTMENT GROUP LLC

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

Q3 2025 · Filed 2025-11-14
Market Value
$257M
-5.8%
Holdings
54
+5
New Purchases
11
Added To
6
Closed
17
Reduced
10
Top 10 Concentration
90.1%
Turnover
51.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IBIT 50.87% 18.62% +32.25% $131M
RITM-PD 4.31% 0.21% +4.11% $11M
LQD 8.14% 4.94% +3.20% $21M
BHF 2.80% 0.00% +2.80% $7M
RWT 1.91% 0.43% +1.47% $5M
FOUR 1.35% 0.00% +1.35% $3M
LECO 1.37% 0.53% +0.84% $4M
AMD 0.79% 0.00% +0.79% $2M
CEG 1.04% 0.35% +0.68% $3M
CIM 0.59% 0.00% +0.59% $2M
CC 0.34% 0.00% +0.34% $871K
UPS 0.32% 0.00% +0.32% $835K
WOLF 0.28% 0.00% +0.28% $715K
SVXY 0.25% 0.00% +0.25% $637K
SSTK 0.13% 0.00% +0.13% $336K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SPY 9.94% 29.23% -19.29% $26M
HYG 0.00% 9.81% -9.81% $0
JFR 7.17% 12.26% -5.09% $18M
VOO 0.00% 4.84% -4.84% $0
GLW 0.00% 1.54% -1.54% $0
FERG 0.00% 1.19% -1.19% $0
EQT 0.00% 1.06% -1.06% $0
PWR 0.00% 0.83% -0.83% $0
VLO 0.00% 0.74% -0.74% $0
USM 0.41% 1.05% -0.64% $1M
TRGP 0.00% 0.64% -0.64% $0
VST 1.14% 1.77% -0.63% $3M
PSX 0.00% 0.44% -0.44% $0
AR 0.00% 0.37% -0.37% $0
EXP 0.00% 0.37% -0.37% $0

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 3 $28M 10.7%
Large Cap 28 $187M 72.6%
Mid Cap 13 $16M 6.1%
Small Cap 7 $27M 10.3%
Micro Cap 3 $639K 0.2%

Portfolio Analytics

Avg Market Cap
$88.6B
Median Market Cap
$19.8B
Avg P/E
32.5
Median P/E
23.7
Avg Dividend Yield
0.05%
Avg Beta
1.31
# Stocks
46
# ETFs / Funds
8

Top Holdings (54 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IBIT 50.87% 2,015,094 $131M $65.00 $80M +1,183,414 +142.3%
2 SPY 9.94% 38,422 $26M $666.18 -$54M -90,944 -70.3%
3 LQD 8.14% 188,000 $21M $111.47 $7M +64,800 +52.6%
4 JFR 7.17% 2,257,194 $18M $8.18 -$15M -1,702,350 -43.0%
5 RITM-PD 4.31% 975,000 $11M $11.39 $11M +925,000 +1850.0%
6 BHF 2.80% 136,000 $7M $53.08 +136,000 NEW
7 DUK 1.92% 40,000 $5M $123.75 -$950K -10,000 -20.0%
8 RWT 1.91% 847,411 $5M $5.79 $4M +647,411 +323.7%
9 ETR 1.63% 45,000 $4M $93.19 $38K -5,000 -10.0%
10 LECO 1.37% 15,000 $4M $235.83 $2M +8,000 +114.3%
11 FOUR 1.35% 45,000 $3M $77.40 +45,000 NEW
12 VST 1.14% 15,000 $3M $195.92 -$2M -10,000 -40.0%
13 CEG 1.04% 8,100 $3M $329.07 $2M +5,100 +170.0%
14 WMB 0.98% 40,000 $3M $63.35 -$921K -15,000 -27.3%
15 AMD 0.79% 12,500 $2M $161.79 +12,500 NEW
16 CIM 0.59% 115,000 $2M $13.22 +115,000 NEW
17 EIM 0.45% 116,847 $1M $9.94 -$773K -83,153 -41.6%
18 USM 0.41% 21,292 $1M $50.01 -$2M -23,713 -52.7%
19 CC 0.34% 55,000 $871K $15.84 +55,000 NEW
20 UPS 0.32% 10,000 $835K $83.53 +10,000 NEW
21 VMI 0.30% 2,000 $775K $387.73 $122K
22 WOLF 0.28% 25,000 $715K $28.60 +25,000 NEW
23 KR 0.26% 10,000 $674K $67.41 -$43K
24 SVXY 0.25% 12,500 $637K $50.94 +12,500 NEW
25 RRC 0.22% 15,000 $565K $37.64 -$859K -20,000 -57.1%
26 LUMN 0.18% 75,000 $459K $6.12 $130K
27 CRH.L 0.14% 3,000 $360K $119.90 $84K
28 MTZ 0.13% 1,600 $340K $212.81 -$512K -3,400 -68.0%
29 SSTK 0.13% 16,114 $336K $20.85 +16,114 NEW
30 MLM 0.12% 500 $315K $630.28 $41K
31 VMC 0.12% 1,000 $308K $307.62 $47K
32 NE 0.11% 10,000 $283K $28.28 $17K
33 CRWV 0.11% 2,000 $274K $136.85 +2,000 NEW
34 XPRO 0.09% 20,000 $238K $11.88 +20,000 NEW
35 DAN 0.08% 10,000 $200K $20.04 $29K
36 WAVSW —% 30,000 $1K $0.04 -$588
37 BSLKW —% 19,150 $766 $0.04 $270
38 FERG —% -$3M -15,000 -100.0% SOLD
39 EQT —% -$3M -49,910 -100.0% SOLD
40 EXP —% -$1M -5,000 -100.0% SOLD
41 PWR —% -$2M -6,000 -100.0% SOLD
42 EXE —% -$877K -7,500 -100.0% SOLD
43 AR —% -$1M -25,100 -100.0% SOLD
44 PEG —% -$842K -10,000 -100.0% SOLD
45 VLO —% -$2M -15,000 -100.0% SOLD
46 PSX —% -$1M -10,000 -100.0% SOLD
47 HYG —% -$27M -332,600 -100.0% SOLD
48 ULCC —% -$218K -60,000 -100.0% SOLD
49 COMM —% -$207K -25,000 -100.0% SOLD
50 TRGP —% -$2M -10,000 -100.0% SOLD
51 CNM —% -$249K -4,125 -100.0% SOLD
52 GLW —% -$4M -80,000 -100.0% SOLD
53 VOO —% -$13M -23,310 -100.0% SOLD
54 ODFL —% -$933K -5,750 -100.0% SOLD

Options Breakdown

16 Calls $3M Call Value 19 Puts $4M Put Value 1.71 P/C Ratio

Top Calls

SymbolSharesValueStatus
GLW 200,000 $805K NEW
APA 100,000 $500K
VST 50,000 $364K
RRC 285,000 $334K
FERG 70,000 $294K NEW
EQNR 100,000 $98K NEW
TAC 100,000 $60K NEW
WMB 50,000 $44K NEW
CC 50,000 $40K NEW
AR 50,000 $38K NEW

Top Puts

SymbolSharesValueStatus
LYB 200,000 $862K
DOW 433,500 $688K
BLDR 100,000 $495K
UPS 100,000 $445K NEW
SPY 335,000 $385K
CCOI 105,000 $362K NEW
FSK 200,000 $332K NEW
OKE 50,000 $175K
CMCSA 120,000 $161K NEW
OLN 100,000 $161K NEW

New Positions

SymbolValue% Port
BHF $7M 2.80%
FOUR $3M 1.35%
AMD $2M 0.79%
CIM $2M 0.59%
CC $871K 0.34%
UPS $835K 0.32%
WOLF $715K 0.28%
SVXY $637K 0.25%
SSTK $336K 0.13%
CRWV $274K 0.11%
XPRO $238K 0.09%

Sold Out Positions

SymbolValue% Port
PWR —%
AR —%
PSX —%
TRGP —%
EXP —%
EQT —%
FERG —%
PEG —%
GLW —%
CNM —%
VLO —%
EXE —%
HYG —%
ODFL —%
ULCC —%
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