Mariner Investment Group LLC In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 27, 2026), Mariner Investment Group LLC reported 60 stock positions worth $268.0 million . Its top holding was iShares Bitcoin Trust ETF (IBIT) at 38.9% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 21.3% ) and Rithm Capital (RITM, 4.7% ). Compared with Q1 2026, it opened 24 new positions, sold out of 6, added to 13 and reduced 3. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale SHIFT4 Payments Class A (FOUR, shares −66% ).
Location NEW YORK, NY
CIK 0001096978
Portfolio Value $268.0M (Q2 2026) Holdings 60 stocks · $268.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 IBIT iShares Bitcoin Trust ETF 3,129,352 $104.2M No change SPY SS SPDR S&P 500 ETF Trust-US 76,475 $57.1M New RITM Rithm Capital Corp. 1,332,583 $12.5M No change SHY iShares 1-3 Year Treasury Bo 101,199 $8.3M Add +33.5% CIM Chimera Investment Corp. 378,899 $5.1M No change MUB iShares National Muni Bond E 45,454 $4.9M New ETR Entergy Corp. 40,000 $4.6M No change VCSH Vanguard S/T Corp. Bond ETF 53,317 $4.2M Add +1.9% LECO Lincoln Electric Holdings 15,705 $4.2M Add +161.8% WMB Williams Cos Inc. 55,000 $4.1M Add +22.2% GLW Corning Inc. 14,000 $3.6M New MTZ Mastec Inc. 8,000 $3.3M Add +33.3% AERO Grupo Aeromexico Sab DE CV 169,280 $3.0M No change FERG Ferguson Enterprises Inc. 12,000 $2.8M New EWZ iShares MSCI Brazil ETF 80,000 $2.8M New RWT Redwood Trust Inc. 550,361 $2.6M No change FOUR SHIFT4 Payments Inc. Class A 50,000 $2.4M Reduce -65.5% IEI iShares 3-7 Year Treasury Bo 20,551 $2.4M Add +169.1% IEF iShares 7-10 Year Treasury B 22,596 $2.1M New MFA Mfa Financial Inc. 210,000 $2.0M No change PMT Pennymac Mortgage Investment 180,000 $2.0M No change HYG Ishr Ibx Usd Hiyld CB ETF-Ui 24,600 $2.0M New TOL Toll Brothers Inc. 10,000 $1.6M New BHF Brighthouse Financial Inc. 25,000 $1.6M New TLT iShares 20+ Year Treasury BD 18,080 $1.6M New FIX Comfort Systems USA Inc. 750 $1.5M New IREN Iren Ltd. filed as IREN LIMITED 30,000 $1.4M New LUMN Lumen Technologies Inc. 175,000 $1.3M Add +133.3% DX Dynex Capital Inc. 95,000 $1.2M No change GEV GE Vernova Inc. 1,000 $1.2M New IGV iShares Expanded Tech-Softwa 12,500 $1.1M No change RRC Range Resources Corp. 30,000 $1.1M No change EQT Eqt Corp. 20,000 $1.1M No change SABR Sabre Corp. 400,000 $836K New WMT Walmart Inc. 7,264 $823K No change WIX Wix.com Ltd. 17,144 $778K Add +90.5% KRMN Karman Holdings Inc. 15,000 $749K Add +200.0% Q Qnity Electronics Inc. 4,000 $653K New CORZ Core Scientific Inc. 25,000 $640K Add +25.0% CIFR Cipher Digital Inc. 25,000 $613K New CSCO Cisco Systems Inc. 5,000 $587K New CCK Crown Holdings Inc. 5,000 $559K No change AES AES Corp. 35,000 $513K No change CRWV Coreweave Inc. Class A 5,000 $498K New FLEX Flex Ltd. 3,000 $486K New WOLF Wolfspeed Inc. 10,000 $483K Reduce -60.0% XPRO Expro Group Holdings NV 30,000 $443K Add +50.0% IHRT Iheartmedia Inc. Class A 102,064 $438K Add +61.5% TWO Two Harbors Investment Corp. 32,776 $407K No change MCD McDonald's Corp. 1,500 $405K New MITT TPG Mortgage Investment Trus 48,094 $381K No change NE Noble Corp. PLC 10,000 $373K No change TDS Telephone and Data Systems 10,000 $370K Add +100.0% PKG Packaging Corp. of America 1,500 $357K No change USAR USA Rare Earth Inc. 15,000 $324K New AVEX Aevex Corp. Class A 13,528 $283K New PMTS Cpi Card Group Inc. 13,050 $271K Reduce -27.7% TSEM Tower Semiconductor Ltd. 1,000 $261K New ENPH Enphase Energy Inc. 5,000 $246K New AOMR Angel Oak Mortgage REIT Inc. 17,754 $161K No change
Options reported separately and not counted above: QQQ calls ($19.5M), COHR calls ($2.4M), CIEN calls ($2.1M), Q calls ($1.6M), ENTG calls ($1.1M), LYONDELLBASELL INDUSTRIES NV puts ($1.0M), GEV calls ($846K), CAT calls ($790K), FOUR calls ($668K), OLN puts ($665K), DOW puts ($621K), PWR calls ($608K), and 36 more.
Other holdings (15): bonds, preferreds, convertibles and warrants · $158.4M (not counted above) Security Class Shares / Principal Value Change ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 30,000,000 $35.4M Add +20.0% FLUOR CORP (FLR 1.125 08/15/29) NOTE 1.125% 8/1 · principal 25,100,000 $33.3M No change DOORDASH INC (DASH 0 05/15/30) NOTE 5/1 · principal 25,000,000 $24.7M New GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) NOTE 1.500% 3/0 · principal 25,000,000 $22.5M No change RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal 15,000,000 $16.0M New AKAMAI TECHNOLOGIES INC (AKAM 0.25 05/15/33) NOTE 0.250% 5/1 · principal 7,500,000 $11.0M New LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) NOTE 2.875% 1/1 · principal 5,000,000 $6.0M No change SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) 6 SER A CNV PREF 55,000 $3.4M New PENNYMAC CORP (PMT 8.5 06/01/29) NOTE 8.500% 6/0 · principal 2,000,000 $2.0M Add +100.0% REDWOOD TRUST INC (RWT 7.75 06/15/27) NOTE 7.750% 6/1 · principal 1,800,000 $1.8M No change REDFIN CORP (RDFN 0.5 04/01/27) NOTE 0.500% 4/0 · principal 1,645,000 $1.6M No change ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal 500,000 $604K Reduce -96.0% BBCQW Bleichroeder Acquisition Cor *W EXP 12/23/203 10,000 $22K New BRLSW Oxus Acquisition Corp. -CW23 *W EXP 02/07/202 23,300 $1K No change CYCUW Cycurion Inc.-CW27 *W EXP 02/13/203 30,000 $525 No change
Total filed on the 13F, all lines: $426.3M.
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ FOUR SHIFT4 Payments Inc. Class A Reduce -65.5% 0.91% −2.36 CAT Caterpillar Inc. Sold out 0.00% −1.39 SOLS Solstice Adv Materials Inc. Sold out 0.00% −0.59 LGN Legence Corp. Class A Sold out 0.00% −0.44 MCHP Microchip Technology Inc. Sold out 0.00% −0.43 MTSI Macom Technology Solutions H Sold out 0.00% −0.34 WING Wingstop Inc. Sold out 0.00% −0.08 PMTS Cpi Card Group Inc. Reduce -27.7% 0.10% −0.03 WOLF Wolfspeed Inc. Reduce -60.0% 0.18% −0.03
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ SPY SS SPDR S&P 500 ETF Trust-US New 21.31% +21.31 MUB iShares National Muni Bond E New 1.83% +1.83 GLW Corning Inc. New 1.33% +1.33 FERG Ferguson Enterprises Inc. New 1.06% +1.06 EWZ iShares MSCI Brazil ETF New 1.03% +1.03 IEF iShares 7-10 Year Treasury B New 0.80% +0.80 LECO Lincoln Electric Holdings Add +161.8% 1.56% +0.79 HYG Ishr Ibx Usd Hiyld CB ETF-Ui New 0.73% +0.73 TOL Toll Brothers Inc. New 0.61% +0.61 BHF Brighthouse Financial Inc. New 0.59% +0.59 TLT iShares 20+ Year Treasury BD New 0.58% +0.58 FIX Comfort Systems USA Inc. New 0.55% +0.55 IREN Iren Ltd. New 0.51% +0.51 GEV GE Vernova Inc. New 0.44% +0.44 IEI iShares 3-7 Year Treasury Bo Add +169.1% 0.90% +0.43 SABR Sabre Corp. New 0.31% +0.31 MTZ Mastec Inc. Add +33.3% 1.24% +0.25 Q Qnity Electronics Inc. New 0.24% +0.24 LUMN Lumen Technologies Inc. Add +133.3% 0.50% +0.23 CIFR Cipher Digital Inc. New 0.23% +0.23 CSCO Cisco Systems Inc. New 0.22% +0.22 CRWV Coreweave Inc. Class A New 0.19% +0.19 FLEX Flex Ltd. New 0.18% +0.18 MCD McDonald's Corp. New 0.15% +0.15 USAR USA Rare Earth Inc. New 0.12% +0.12 AVEX Aevex Corp. Class A New 0.11% +0.11 TSEM Tower Semiconductor Ltd. New 0.10% +0.10 ENPH Enphase Energy Inc. New 0.09% +0.09 CORZ Core Scientific Inc. Add +25.0% 0.24% +0.08 KRMN Karman Holdings Inc. Add +200.0% 0.28% +0.07 IHRT Iheartmedia Inc. Class A Add +61.5% 0.16% +0.07 TDS Telephone and Data Systems Add +100.0% 0.14% +0.03 XPRO Expro Group Holdings NV Add +50.0% 0.17% −0.01 SHY iShares 1-3 Year Treasury Bo Add +33.5% 3.10% −0.12 WIX Wix.com Ltd. Add +90.5% 0.29% −0.13 WMB Williams Cos Inc. Add +22.2% 1.53% −0.16 VCSH Vanguard S/T Corp. Bond ETF Add +1.9% 1.57% −0.56
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 call New 1,400,000 $19.5M COHR Coherent Corp. call Reduce -14.1% 36,500 $2.4M CIEN Ciena Corp. call New 36,000 $2.1M Q Qnity Electronics Inc. call Add +100.0% 100,000 $1.6M ENTG Entegris Inc. call Add +100.0% 50,000 $1.1M LYONDELLBASELL INDUSTRIES NV put New 200,000 $1.0M GEV GE Vernova Inc. call New 10,000 $846K CAT Caterpillar Inc. call Add +210.0% 15,500 $790K FOUR SHIFT4 Payments Inc. Class A call Reduce -16.7% 150,000 $668K OLN Olin Corp. put Add +7.6% 254,000 $665K BLDR Builders Firstsource Inc. put Sold out 115,000 $650Kbefore exit DOW Dow Inc. put Add +31.0% 268,500 $621K SOLS Solstice Adv Materials Inc. call New 94,000 $503K WING Wingstop Inc. put Sold out 32,500 $499Kbefore exit HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Reduce -10.4% 1,900,000 $492K TLN Talen Energy Corp. call Sold out 60,000 $429Kbefore exit BKLN Invesco Senior Loan ETF put Add +42.3% 1,423,200 $421K CCOI Cogent Communications Holdin put Sold out 105,000 $394Kbefore exit NOK Nokia Corp.-Spon ADR call New 500,000 $365K APH Amphenol Corp. Class A put Sold out 50,000 $315Kbefore exit APO Apollo Global Management Inc. put New 40,000 $286K SPY SS SPDR S&P 500 ETF Trust-US put Reduce -77.5% 170,000 $276K EWY iShares MSCI South Korea ETF put Sold out 50,000 $263Kbefore exit HWM Howmet Aerospace Inc. call New 70,000 $236K ARES Ares Management Corp. Class A put New 40,000 $222K STM Stmicroelectronics NV-NY SHS call New 28,500 $161K QQQ Invesco QQQ Trust Series 1 put New 26,800 $152K OCSL Oaktree Specialty Lending Co. put Add +52.0% 304,000 $137K DE Deere & Co. put Sold out 10,000 $129Kbefore exit LYB Lyondellbasell Indu Class A put Sold out 240,000 $110Kbefore exit JETS US Global Jets ETF call Sold out 200,000 $104Kbefore exit ARCC Ares Capital Corp. put New 200,000 $95K ETN Eaton Corp. PLC put New 18,000 $95K KHC The Kraft Heinz Co. put Sold out 200,000 $91Kbefore exit IREN LIMITED call New 40,000 $69K TLT iShares 20+ Year Treasury BD call New 250,000 $60K DVN Devon Energy Corp. put Sold out 300,000 $58Kbefore exit DHI D.R. Horton Inc. put Reduce -42.5% 61,500 $55K HWM Howmet Aerospace Inc. put Sold out 25,000 $54Kbefore exit VST Vistra Corp. call Sold out 25,000 $49Kbefore exit IBM Intl Business Machines Corp. call New 23,500 $47K UAL United Airlines Holdings Inc. put Sold out 25,000 $41Kbefore exit XLE SS Energy Select Sector put New 100,000 $40K SW Smurfit Westrock PLC put Sold out 50,000 $38Kbefore exit FITB Fifth Third Bancorp put Sold out 25,000 $36Kbefore exit JEF Jefferies Financial Group Inc. put Sold out 25,000 $34Kbefore exit SPY SS SPDR S&P 500 ETF Trust-US call Reduce -92.1% 50,000 $32K COP Conocophillips put Sold out 100,000 $30Kbefore exit ALB Albemarle Corp. call New 40,000 $27K APA Apa Corp. put Sold out 200,000 $27Kbefore exit
Showing the first 50 of 63.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2026 → Q2 2026 Security Class Change vs Q1 2026 Shares / Principal Value ▼ ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal Add +20.0% 30,000,000 $35.4M DOORDASH INC (DASH 0 05/15/30) NOTE 5/1 · principal New 25,000,000 $24.7M SNOWFLAKE INC (SNOW 0 10/01/27) NOTE 10/0 · principal Sold out 15,000,000 $17.7Mbefore exit RIVIAN AUTO INC (RIVN 3.625 10/15/30) NOTE 3.625%10/1 · principal New 15,000,000 $16.0M AKAMAI TECHNOLOGIES INC (AKAM 0.25 05/15/33) NOTE 0.250% 5/1 · principal New 7,500,000 $11.0M LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) NOTE 3.125% 1/1 · principal Sold out 5,000,000 $7.6Mbefore exit SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) 6 SER A CNV PREF New 55,000 $3.4M PENNYMAC CORP (PMT 8.5 06/01/29) NOTE 8.500% 6/0 · principal Add +100.0% 2,000,000 $2.0M ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) NOTE 0.500% 3/0 · principal Reduce -96.0% 500,000 $604K WOLFSPEED INC (WOLF 2.5 06/15/31) NOTE 2.500% 6/1 · principal Sold out 271,000 $388Kbefore exit BBCQW Bleichroeder Acquisition Cor *W EXP 12/23/203 New 10,000 $22K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 60 $268.0M IBIT, SPY, RITM, SHY, CIM Q1 2026 42 $194.2M IBIT, RITM, FOUR, SHY, CIM Q4 2025 56 $1.6B MSFT, LRCX, GOOG, COST, IBIT Q3 2025 35 $257.5M IBIT, SPY, LQD, JFR, RITM Q2 2025 42 $273.8M SPY, IBIT, JFR, HYG, LQD Q1 2025 23 $251.6M SPY, BKLN, JFR, HYG, VST Q4 2024 30 $498.2M SPY, BKLN, FDX, TLT, GLW Q3 2024 18 $364.4M SPY, BKLN, JAAA, SRLN, HYG Q2 2024 12 $462.3M SPY, BKLN, SRLN, CCL, VST Q1 2024 12 $319.3M SPY, BKLN, SRLN, LQD, JBLU