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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
QAM
Q3 Asset Management
Birmingham,
Michigan
|
+$3.73M |
| 2 |
OPCM
Osborne Partners Capital Management
San Francisco,
California
|
+$1.67M |
| 3 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$649K |
| 4 |
AL
Aspiriant LLC
Los Angeles,
California
|
+$643K |
| 5 |
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
Kalamazoo,
Michigan
|
-$1.1M |
| 3 |
MCM
MAI Capital Management
Independence,
Ohio
|
-$1.05M |
| 4 |
RL
Retireful LLC
Haslett,
Michigan
|
-$811K |
| 5 |
Jane Street
New York
|
-$685K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
PB
76
Pinnacle Bancorp
Beatrice,
Nebraska
| – | -$52.2K | -1,584 | Closed |
|
|
GTAM
77
Global Trust Asset Management
West Palm Beach,
Florida
| – | -$51.7K | -1,570 | Closed |
|
78
JP Morgan Chase
New York
| – | -$13.2K | -400 | Closed |
|
|
SPIA
79
Steward Partners Investment Advisory
New York
| – | -$10.4K | -316 | Closed |
|
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.