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IQ ARB Merger Arbitrage ETF
MNA

73 hedge funds and large institutions have $151M invested in IQ ARB Merger Arbitrage ETF in 2025 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 20 increasing their positions, 23 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

86% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 7

7% more funds holding

Funds holding: 68 → 73 (+5)

5% more capital invested

Capital invested by funds: $143M → $151M (+$7.81M)

0.63% more ownership

Funds ownership: 64.31% → 64.94% (+0.63%)

13% less repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 23

Holders
73
Holders Change
+5
Holders Change %
+7.35%
% of All Funds
0.96%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
13
Increased
20
Reduced
23
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$2.9M
2
Ameriprise
Ameriprise
Minnesota
+$2.47M
3
RL
Retireful LLC
Michigan
+$1.33M
4
Citadel Advisors
Citadel Advisors
Florida
+$1.14M
5
CWM
Congress Wealth Management
Massachusetts
+$725K

Top Sellers

Rank Fund Capital Flow
1
QAM
Q3 Asset Management
Michigan
-$3.8M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$2.16M
3
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$2.06M
4
NYLIM
New York Life Investment Management
New York
-$1.74M
5
OIA
OneDigital Investment Advisors
Kansas
-$1.11M
Name Holding Trade Value Shares
Change 		Change in
Stake
CF
51
Centaurus Financial
California
$128K – – –
CFD
52
Creative Financial Designs
Indiana
$108K – – –
HWA
53
HHM Wealth Advisors
Tennessee
$76.1K +$74.8K +2,157 New
Comerica Bank
54
Comerica Bank
Texas
$60.4K – – –
Carson Wealth (CWM LLC)
55
Carson Wealth (CWM LLC)
Nebraska
$55K – – –
IA
56
IFP Advisors
Florida
$50.1K – – –
Fidelity Investments
57
Fidelity Investments
Massachusetts
$49.9K +$21.5K +621 +78%
GRP
58
Global Retirement Partners
California
$43.4K +$42.7K +1,231 New
AAS
59
Ameritas Advisory Services
Nebraska
$35.7K +$35.1K +1,013 New
HI
60
Harbour Investments
Wisconsin
$24.3K – – –
SA
61
Scarborough Advisors
Maryland
$23.7K +$23.4K +673 New
CA
62
CoreCap Advisors
Michigan
$20.2K -$1.15K -33 -5%
BOJHT
63
Bank of Jackson Hole Trust
Wyoming
$17.6K – – –
CAM
64
Costello Asset Management
Pennsylvania
$10.6K – – –
SWIM
65
Smallwood Wealth Investment Management
New Jersey
$9.03K – – –
AF
66
Allworth Financial
California
$7.58K – – –
UBS Group
67
UBS Group
Switzerland
$6.63K -$5.79K -167 -47%
TFA
68
Toth Financial Advisory
Virginia
$5.79K +$5.69K +164 New
PA
69
Parallel Advisors
California
$5.64K – – –
OSAM
70
O'Shaughnessy Asset Management
Connecticut
$3.1K -$14.5K -419 -83%
GWSG
71
GPS Wealth Strategies Group
Colorado
$2.33K +$2.29K +66 New
KFI
72
Key Financial Inc
Pennsylvania
$459 – – –
Q1WB
73
Quest 10 Wealth Builders
Virginia
$176 -$104 -3 -38%
QAM
74
Q3 Asset Management
Michigan
– -$3.8M -110,696 Closed
GT
75
Greenleaf Trust
Michigan
– -$535K -15,600 Closed
1 2
3
4

MNA Hedge Fund Activity: Q2 2025 in Review

73 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in IQ ARB Merger Arbitrage ETF (MNA) for Q2 2025, worth a combined $151M — up 5.4% from $143M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new MNA positions and 7 closed out — a net gain of 6 holders — while 20 added to existing stakes and 23 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $2.9M. The largest seller was Q3 Asset Management, exiting entirely with an estimated $3.8M sold.

  • 73 institutional investors held IQ ARB Merger Arbitrage ETF (MNA) as of Q2 2025, up from 68 in Q1 2025.
  • Funds reported $151M of IQ ARB Merger Arbitrage ETF stock for Q2 2025, up 5.4% quarter-over-quarter.
  • 13 funds opened new IQ ARB Merger Arbitrage ETF positions in Q2 2025 and 7 closed out, a net change of +6 holders.
  • The largest IQ ARB Merger Arbitrage ETF buyer in Q2 2025 was Morgan Stanley, an estimated $2.9M added.
  • The largest IQ ARB Merger Arbitrage ETF seller in Q2 2025 was Q3 Asset Management, an estimated $3.8M sold.

Based on aggregated 13F filings for Q2 2025.