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IQ ARB Merger Arbitrage ETF
MNA

68 hedge funds and large institutions have $143M invested in IQ ARB Merger Arbitrage ETF in 2025 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 15 increasing their positions, 35 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

2% less capital invested

Capital invested by funds: $147M → $143M (-$3.29M)

2.58% less ownership

Funds ownership: 66.89% → 64.31% (-2.6%)

6% less funds holding

Funds holding: 72 → 68 (-4)

18% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 11

57% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 35

Holders
68
Holders Change
-4
Holders Change %
-5.56%
% of All Funds
0.91%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
9
Increased
15
Reduced
35
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
QAM
Q3 Asset Management
Michigan
+$3.73M
2
OPCM
Osborne Partners Capital Management
California
+$1.67M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$649K
4
AL
Aspiriant LLC
California
+$643K
5
Morgan Stanley
Morgan Stanley
New York
+$641K

Top Sellers

Rank Fund Capital Flow
1
NYLIM
New York Life Investment Management
New York
-$9.4M
2
GT
Greenleaf Trust
Michigan
-$1.1M
3
MCM
MAI Capital Management
Ohio
-$1.05M
4
RL
Retireful LLC
Michigan
-$811K
5
Jane Street
Jane Street
New York
-$685K
Name Holding Trade Value Shares
Change 		Change in
Stake
FFN
26
Focus Financial Network
Minnesota
$663K +$17K +504 +3%
KAS
27
Kestra Advisory Services
Texas
$622K -$8.89K -264 -1%
MCM
28
MAI Capital Management
Ohio
$620K -$1.05M -31,155 -63%
DWAM
29
Duncan Williams Asset Management
Tennessee
$570K -$12.3K -364 -2%
ONB
30
Old National Bancorp
Indiana
$564K -$1.25K -37 -0.2%
GT
31
Greenleaf Trust
Michigan
$535K -$1.1M -32,722 -68%
Wells Fargo
32
Wells Fargo
California
$517K -$5.99K -178 -1%
IAN
33
Integrated Advisors Network
Texas
$464K -$46.8K -1,391 -9%
RF
34
RHS Financial
California
$370K -$107K -3,191 -23%
BAM
35
Belpointe Asset Management
Nevada
$361K +$355K +10,530 New
Rockefeller Capital Management
36
Rockefeller Capital Management
New York
$349K – – –
ML
37
McAdam LLC
Pennsylvania
$322K -$18.2K -542 -5%
WAP
38
Wealthcare Advisory Partners
Pennsylvania
$311K -$136K -4,046 -31%
Osaic Holdings
39
Osaic Holdings
Arizona
$293K -$170K -5,053 -37%
Cetera Investment Advisers
40
Cetera Investment Advisers
Illinois
$267K -$2.46K -73 -0.9%
CMMS
41
Comprehensive Money Management Services
Florida
$258K -$10.1K -300 -4%
DAS
42
Diversify Advisory Services
Utah
$233K – – –
MML Investors Services
43
MML Investors Services
Massachusetts
$231K -$33.9K -1,008 -13%
LFS
44
Legacy Financial Strategies
Kansas
$228K -$63.7K -1,892 -22%
PFS
45
Prospera Financial Services
Texas
$221K -$14.9K -444 -6%
WS
46
Wedbush Securities
California
$207K +$204K +6,044 New
SF
47
Summit Financial
New Jersey
$201K +$197K +5,848 New
ETS
48
ESL Trust Services
New York
$178K -$21K -625 -11%
CF
49
Centaurus Financial
California
$125K – – –
CFD
50
Creative Financial Designs
Indiana
$105K -$50.5K -1,501 -33%
1
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MNA Hedge Fund Activity: Q1 2025 in Review

68 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in IQ ARB Merger Arbitrage ETF (MNA) for Q1 2025, worth a combined $143M — down 2.2% from $147M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of MNA and 9 opened new positions — a net loss of 2 holders — while 35 trimmed existing stakes and 15 added.

The largest buyer was Q3 Asset Management, opening a new position worth an estimated $3.73M. The largest seller was New York Life Investment Management, cutting an estimated $9.4M.

  • 68 institutional investors held IQ ARB Merger Arbitrage ETF (MNA) as of Q1 2025, down from 72 in Q4 2024.
  • Funds reported $143M of IQ ARB Merger Arbitrage ETF stock for Q1 2025, down 2.2% quarter-over-quarter.
  • 9 funds opened new IQ ARB Merger Arbitrage ETF positions in Q1 2025 and 11 closed out, a net change of -2 holders.
  • The largest IQ ARB Merger Arbitrage ETF buyer in Q1 2025 was Q3 Asset Management, an estimated $3.73M added.
  • The largest IQ ARB Merger Arbitrage ETF seller in Q1 2025 was New York Life Investment Management, an estimated $9.4M sold.

Based on aggregated 13F filings for Q1 2025.