AltShares Merger Arbitrage ETF
ARB
35 hedge funds and large institutions have $80.4M invested in AltShares Merger Arbitrage ETF in 2025 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 13 increasing their positions, 16 reducing their positions, and 2 closing their positions.
200% more first-time investments, than exits
New positions opened: 6 | Existing positions closed: 2
9% more funds holding
Funds holding: 32 → 35 (+3)
6% more capital invested
Capital invested by funds: $75.6M → $80.4M (+$4.84M)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
1.09% less ownership
Funds ownership: 91.96% → 90.86% (-1.1%)
19% less repeat investments, than reductions
Existing positions increased: 13 | Existing positions reduced: 16
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Raymond James Financial
St Petersburg,
Florida
|
+$2.77M |
| 2 |
ASN
Advisory Services Network
Atlanta,
Georgia
|
+$1.55M |
| 3 |
LAMNM
Longview Asset Management (New Mexico)
Santa Fe,
New Mexico
|
+$1.52M |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
+$1.47M |
| 5 |
DAS
Diversify Advisory Services
Sandy,
Utah
|
+$1.35M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NYLIM
New York Life Investment Management
New York
|
-$446K |
| 2 |
AP
Advisors Preferred
Rockville,
Maryland
|
-$303K |
| 3 |
Envestnet Asset Management
Chicago,
Illinois
|
-$282K |
| 4 |
Mercer Global Advisors
Denver,
Colorado
|
-$234K |
| 5 |
CFIA
Cantor Fitzgerald Investment Advisors
New York
|
-$217K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
Envestnet Portfolio Solutions
Chicago,
Illinois
| $305K | -$104K | -3,683 | -26% |
|
|
WIA
27
World Investment Advisors
Santa Barbara,
California
| $275K | +$64.1K | +2,271 | +31% |
|
|
AWS
28
Atria Wealth Solutions
New York
| $254K | -$20.7K | -734 | -8% |
|
|
KWA
29
Kingswood Wealth Advisors
San Diego,
California
| $221K | +$219K | +7,750 | New |
|
|
AP
30
Advisors Preferred
Rockville,
Maryland
| $164K | -$303K | -10,730 | -65% |
|
31
Royal Bank of Canada
Toronto,
Ontario, Canada
| $114K | +$80.3K | +2,843 | +242% |
|
|
AF
32
Allworth Financial
Folsom,
California
| $80K | -$5.96K | -211 | -7% |
|
|
PTC
33
Private Trust Company
Cleveland,
Ohio
| $40.3K | +$4.15K | +147 | +12% |
|
34
UBS Group
Zurich,
Switzerland
| $28.4K | +$28.1K | +997 | New |
|
|
AAS
35
Ameritas Advisory Services
Lincoln,
Nebraska
| $10.3K | +$10.2K | +363 | New |
|
|
36
Mercer Global Advisors
Denver,
Colorado
| – | -$234K | -8,272 | Closed |
|
37
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$9.71K | -344 | Closed |
|
ARB Hedge Fund Activity: Q2 2025 in Review
35 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in AltShares Merger Arbitrage ETF (ARB) for Q2 2025, worth a combined $80.4M — up 6.4% from $75.6M a quarter earlier.
Buyers outnumbered sellers: 6 funds opened new ARB positions and 2 closed out — a net gain of 4 holders — while 13 added to existing stakes and 16 trimmed.
The largest buyer was Raymond James Financial, opening a new position worth an estimated $2.77M. The largest seller was New York Life Investment Management, cutting an estimated $446K.
- 35 institutional investors held AltShares Merger Arbitrage ETF (ARB) as of Q2 2025, up from 32 in Q1 2025.
- Funds reported $80.4M of AltShares Merger Arbitrage ETF stock for Q2 2025, up 6.4% quarter-over-quarter.
- 6 funds opened new AltShares Merger Arbitrage ETF positions in Q2 2025 and 2 closed out, a net change of +4 holders.
- The largest AltShares Merger Arbitrage ETF buyer in Q2 2025 was Raymond James Financial, an estimated $2.77M added.
- The largest AltShares Merger Arbitrage ETF seller in Q2 2025 was New York Life Investment Management, an estimated $446K sold.
Based on aggregated 13F filings for Q2 2025.