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IQ ARB Merger Arbitrage ETF
MNA

92 hedge funds and large institutions have $302M invested in IQ ARB Merger Arbitrage ETF in 2023 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 23 increasing their positions, 41 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

27% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 11

7.65% more ownership

Funds ownership: 81.9% → 89.55% (+7.7%)

2% more funds holding

Funds holding: 90 → 92 (+2)

21% less capital invested

Capital invested by funds: $382M → $302M (-$79.4M)

44% less repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 41

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
92
Holders Change
+2
Holders Change %
+2.22%
% of All Funds
1.34%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.01%
New
14
Increased
23
Reduced
41
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
+$20M
2
Morgan Stanley
Morgan Stanley
New York
+$18.7M
3
SAG
SageView Advisory Group
California
+$13.4M
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$7M
5
PAS
Park Avenue Securities
New York
+$1M

Top Sellers

Rank Fund Capital Flow
1
GT
Greenleaf Trust
Michigan
-$72.2M
2
OIA
OneDigital Investment Advisors
Kansas
-$15.5M
3
WAP
Wealthcare Advisory Partners
Pennsylvania
-$13.1M
4
BRWA
B. Riley Wealth Advisors
Florida
-$6.1M
5
CF
Cantor Fitzgerald
New York
-$3.48M
Name Holding Trade Value Shares
Change 		Change in
Stake
SAG
76
SageView Advisory Group
California
$14.7K +$13.4M +427,976 +1,344%
PNC Financial Services Group
77
PNC Financial Services Group
Pennsylvania
$14.5K – – –
SC
78
SouthState Corp
Florida
$12.6K +$12.5K +400 New
FG
79
Fairman Group
Pennsylvania
$11.6K +$11.4K +364 New
TWM
80
Tradition Wealth Management
Minnesota
$10K -$21.4K -681 -69%
GWM
81
Geneos Wealth Management
Colorado
$6K +$5.99K +191 New
HI
82
Harbour Investments
Wisconsin
$5.09K – – –
Comerica Bank
83
Comerica Bank
Texas
$3.23K -$50.4K -1,607 -94%
Fidelity Investments
84
Fidelity Investments
Massachusetts
$2.32K -$7.56K -241 -77%
ASN
85
Advisory Services Network
Georgia
$1.79K +$1.79K +57 New
NA
86
NewEdge Advisors
Louisiana
$1.76K – – –
NFSG
87
Newbridge Financial Services Group
Florida
$1.54K – – –
VNA
88
Valley National Advisers
Pennsylvania
$1K – – –
SWM
89
Sugarloaf Wealth Management
Georgia
$803 – – –
IGWM
90
ICA Group Wealth Management
Colorado
$785 +$784 +25 New
KFI
91
Key Financial Inc
Pennsylvania
$408 – – –
TFG
92
Team Financial Group
California
$94 – – –
CF
93
Cantor Fitzgerald
New York
– -$3.48M -110,170 Closed
MA
94
Modus Advisors
Minnesota
– -$2.56M -81,057 Closed
WCM
95
Wealthcare Capital Management
Virginia
– -$369K -11,685 Closed
Allspring Global Investments
96
Allspring Global Investments
North Carolina
– -$294K -9,303 Closed
BAM
97
Belpointe Asset Management
Nevada
– -$256K -8,090 Closed
FIM
98
Freedom Investment Management
Connecticut
– -$248K -7,857 Closed
ATC
99
Argent Trust Co
Tennessee
– -$215K -6,800 Closed
AFS
100
Annapolis Financial Services
Maryland
– -$20.5K -650 Closed
1 2 3
4
5

MNA Hedge Fund Activity: Q4 2023 in Review

92 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in IQ ARB Merger Arbitrage ETF (MNA) for Q4 2023, worth a combined $302M — down 21% from $382M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new MNA positions and 11 closed out — a net gain of 3 holders — while 23 added to existing stakes and 41 trimmed.

The largest buyer was Jane Street, adding an estimated $20M. The largest seller was Greenleaf Trust, cutting an estimated $72.2M.

  • 92 institutional investors held IQ ARB Merger Arbitrage ETF (MNA) as of Q4 2023, up from 90 in Q3 2023.
  • Funds reported $302M of IQ ARB Merger Arbitrage ETF stock for Q4 2023, down 21% quarter-over-quarter.
  • 14 funds opened new IQ ARB Merger Arbitrage ETF positions in Q4 2023 and 11 closed out, a net change of +3 holders.
  • The largest IQ ARB Merger Arbitrage ETF buyer in Q4 2023 was Jane Street, an estimated $20M added.
  • The largest IQ ARB Merger Arbitrage ETF seller in Q4 2023 was Greenleaf Trust, an estimated $72.2M sold.

Based on aggregated 13F filings for Q4 2023.