Mariner Investment Group LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 29, 2024), Mariner Investment Group LLC reported 18 stock positions worth $364.4 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 69.3% of the portfolio, followed by Invesco Senior Loan ETF (BKLN, 11.4%) and Janus Henderson Aaa Clo ETF (JAAA, 6.3%). Compared with Q2 2024, it opened 12 new positions, sold out of 6 and reduced 5. The biggest buy was a new position in Janus Henderson Aaa Clo ETF (JAAA) and the biggest sale Invesco Senior Loan ETF (BKLN, shares −76%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001096978
Portfolio Value
$364.4M (Q3 2024)
SEC Filing
0001085146-24-005201 ↗ filed Oct 29, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $319.3M Q1 2024 Q2 2024: $462.3M Q2 2024 Q3 2024: $364.4M $364.4M Q3 2024 Q4 2024: $498.2M Q4 2024 Q1 2025: $251.6M Q1 2025 Q2 2025: $273.8M Q2 2025 Q3 2025: $257.5M Q3 2025 Q4 2025: $1.6B Q4 2025 Q1 2026: $194.2M Q1 2026 Q2 2026: $268.0M Q2 2026

Holdings 18 stocks · $364.4M
SPY SS SPDR S&P 500 ETF Trust-US 69.28% 439,947 $252.4M Reduce -3.9%
BKLN Invesco Senior Loan ETF 11.40% 1,976,369 $41.5M Reduce -75.5%
JAAA Janus Henderson Aaa Clo ETF 6.28% 450,000 $22.9M New
SRLN SS Blackstone Sr Loan ETF 4.69% 408,812 $17.1M Reduce -55.4%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 3.87% 175,437 $14.1M New
SVXY Proshares Short Vix St Futur 2.52% 183,000 $9.2M New
CCL Carnival Corp. 0.35% 70,000 $1.3M Reduce -30.0%
EQT Eqt Corp. 0.30% 30,000 $1.1M New
RRC Range Resources Corp. 0.30% 35,000 $1.1M New
GLW Corning Inc. 0.25% 20,000 $903K New
DY Dycom Industries Inc. 0.14% 2,572 $507K New
AR Antero Resources Corp. 0.12% 15,000 $430K New
ULCC Frontier Group Holdings Inc. 0.12% 80,000 $428K New
EAF Graftech International Ltd. 0.11% 300,000 $396K No change
VST Vistra Corp. 0.08% 2,500 $296K Reduce -88.3%
EXP Eagle Materials Inc. 0.08% 1,000 $288K New
CRK Comstock Resources Inc. 0.08% 25,000 $278K New
CLF Cleveland-Cliffs Inc. 0.05% 14,250 $182K New

Options reported separately and not counted above: CCL calls ($502K), LQD calls ($491K), HYG puts ($61K), LQD puts ($53K), SPY puts ($38K), APO puts ($9K), BKLN puts ($636).

Other holdings (6): bonds, preferreds, convertibles and warrants · $5.8M (not counted above)
SecurityClassShares / PrincipalValueChange
DISH NETWORK CORP (DISH 3.375 08/15/26) NOTE 3.375% 8/1 · principal 5,000,000$4.0MNew
ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) NOTE 0.250% 6/1 · principal 2,000,000$1.8MNew
BRLSW Oxus Acquisition Corp. -CW23 *W EXP 02/07/202 23,300$2KNo change
BSLKW Golden Arrow Merger A -CW26 *W EXP 08/13/202 19,150$822New
CYCUW Cycurion Inc.-CW27 *W EXP 02/13/203 30,000$639No change
ATEKW Athena Technology Acq -CW23 *W EXP 10/17/202 10,000$214No change

Total filed on the 13F, all lines: $370.2M.

Portfolio Sells Q2 2024 → Q3 2024
BKLN Invesco Senior Loan ETF Reduce -75.5% 11.40% −25.31
SRLN SS Blackstone Sr Loan ETF Reduce -55.4% 4.69% −3.60
VST Vistra Corp. Reduce -88.3% 0.08% −0.32
GLATFELTER CORP Sold out 0.00% −0.13
RIG Transocean Ltd. Sold out 0.00% −0.06
CCL Carnival Corp. Reduce -30.0% 0.35% −0.05
FLNC Fluence Energy Inc. Sold out 0.00% −0.04
FLG New York Community Bancorp Sold out 0.00% −0.03
POWER REIT Sold out 0.00% −0.00
BSLKW Golden Arrow Merger Corp. Sold out 0.00% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Reduce -3.9% 69.28% +15.41

Portfolio Buys Q2 2024 → Q3 2024
JAAA Janus Henderson Aaa Clo ETF New 6.28% +6.28
HYG Ishr Ibx Usd Hiyld CB ETF-Ui New 3.87% +3.87
SVXY Proshares Short Vix St Futur New 2.52% +2.52
EQT Eqt Corp. New 0.30% +0.30
RRC Range Resources Corp. New 0.30% +0.30
GLW Corning Inc. New 0.25% +0.25
DY Dycom Industries Inc. New 0.14% +0.14
AR Antero Resources Corp. New 0.12% +0.12
ULCC Frontier Group Holdings Inc. New 0.12% +0.12
EXP Eagle Materials Inc. New 0.08% +0.08
CRK Comstock Resources Inc. New 0.08% +0.08
CLF Cleveland-Cliffs Inc. New 0.05% +0.05

Options Activity Q2 2024 → Q3 2024
CCL Carnival Corp. call Reduce -36.7% 285,000 $502K
LQD Ishr Ibx Usd Invgd CB ETF-Ui call New 200,000 $491K
HE Hawaiian Electric Inds put Sold out 40,000 $79Kbefore exit
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Add +326.8% 426,800 $61K
LQD Ishr Ibx Usd Invgd CB ETF-Ui put New 200,000 $53K
SPY SS SPDR S&P 500 ETF Trust-US put New 38,000 $38K
QQQ Invesco QQQ Trust Series 1 put Sold out 15,000 $21Kbefore exit
APO Apollo Global Management Inc. put New 23,000 $9K
HYG Ishr Ibx Usd Hiyld CB ETF-Ui call Sold out 200,000 $2Kbefore exit
BKLN Invesco Senior Loan ETF put New 3,200 $636

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q2 2024 → Q3 2024
DISH NETWORK CORP (DISH 3.375 08/15/26) NOTE 3.375% 8/1 · principal New 5,000,000 $4.0M
ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) NOTE 0.250% 6/1 · principal New 2,000,000 $1.8M
BSLKW Golden Arrow Merger A -CW26 *W EXP 08/13/202 New 19,150 $822
NBSTW Newbury Street Acq -CW27 *W EXP 04/30/202 Sold out 12,413 $761before exit
SHPSQ Shapeways Holdings Inc.-CW26 *W EXP 09/29/202 Sold out 11,950 $42before exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 60$268.0MIBIT, SPY, RITM, SHY, CIM
Q1 2026 42$194.2MIBIT, RITM, FOUR, SHY, CIM
Q4 2025 56$1.6BMSFT, LRCX, GOOG, COST, IBIT
Q3 2025 35$257.5MIBIT, SPY, LQD, JFR, RITM
Q2 2025 42$273.8MSPY, IBIT, JFR, HYG, LQD
Q1 2025 23$251.6MSPY, BKLN, JFR, HYG, VST
Q4 2024 30$498.2MSPY, BKLN, FDX, TLT, GLW
Q3 2024 18$364.4MSPY, BKLN, JAAA, SRLN, HYG
Q2 2024 12$462.3MSPY, BKLN, SRLN, CCL, VST
Q1 2024 12$319.3MSPY, BKLN, SRLN, LQD, JBLU