IQ ARB Merger Arbitrage ETF
MNA
82 hedge funds and large institutions have $161M invested in IQ ARB Merger Arbitrage ETF in 2025 Q3 according to their latest regulatory filings, with 15 funds opening new positions, 21 increasing their positions, 33 reducing their positions, and 4 closing their positions.
275% more first-time investments, than exits
New positions opened: 15 | Existing positions closed: 4
12% more funds holding
Funds holding: 73 → 82 (+9)
7% more capital invested
Capital invested by funds: $151M → $161M (+$9.95M)
1.71% less ownership
Funds ownership: 64.94% → 63.23% (-1.7%)
36% less repeat investments, than reductions
Existing positions increased: 21 | Existing positions reduced: 33
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
+$3.52M |
| 2 |
KWA
Kingswood Wealth Advisors
San Diego,
California
|
+$1.63M |
| 3 |
Cetera Investment Advisers
Schaumburg,
Illinois
|
+$1.6M |
| 4 |
Jane Street
New York
|
+$1.24M |
| 5 |
GS
GTS Securities
New York
|
+$1.06M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BRWA
B. Riley Wealth Advisors
Boca Raton,
Florida
|
-$1.87M |
| 2 |
RL
Retireful LLC
Haslett,
Michigan
|
-$1.35M |
| 3 |
Morgan Stanley
New York
|
-$1.03M |
| 4 |
LSWP
Liberty Square Wealth Partners
Bethlehem,
Pennsylvania
|
-$784K |
| 5 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
-$588K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
AAP
76
Arax Advisory Partners
Denver,
Colorado
| $5.6K | +$5.55K | +156 | New |
|
|
AAS
77
Ameritas Advisory Services
Lincoln,
Nebraska
| $4.81K | -$31.3K | -879 | -87% |
|
|
OSAM
78
O'Shaughnessy Asset Management
Stamford,
Connecticut
| $2.76K | -$391 | -11 | -13% |
|
79
Fidelity Investments
Boston,
Massachusetts
| $758 | -$49.5K | -1,393 | -99% |
|
|
KFI
80
Key Financial Inc
West Chester,
Pennsylvania
| $466 | – | – | – |
|
|
CA
81
CoreCap Advisors
Southfield,
Michigan
| $215 | -$20.1K | -566 | -99% |
|
|
Q1WB
82
Quest 10 Wealth Builders
Fuquay-Varina,
Virginia
| $72 | -$107 | -3 | -60% |
|
|
RL
83
Retireful LLC
Haslett,
Michigan
| – | -$1.35M | -38,217 | Closed |
|
|
AF
84
Allworth Financial
Folsom,
California
| – | -$7.58K | -215 | Closed |
|
|
TFA
85
Toth Financial Advisory
Leesburg,
Virginia
| – | -$5.79K | -164 | Closed |
|
|
GWSG
86
GPS Wealth Strategies Group
Centennial,
Colorado
| – | -$2.33K | -66 | Closed |
|
MNA Hedge Fund Activity: Q3 2025 in Review
82 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in IQ ARB Merger Arbitrage ETF (MNA) for Q3 2025, worth a combined $161M — up 6.6% from $151M a quarter earlier.
Buyers outnumbered sellers: 15 funds opened new MNA positions and 4 closed out — a net gain of 11 holders — while 21 added to existing stakes and 33 trimmed.
The largest buyer was Envestnet Asset Management, adding an estimated $3.52M. The largest seller was B. Riley Wealth Advisors, cutting an estimated $1.87M.
- 82 institutional investors held IQ ARB Merger Arbitrage ETF (MNA) as of Q3 2025, up from 73 in Q2 2025.
- Funds reported $161M of IQ ARB Merger Arbitrage ETF stock for Q3 2025, up 6.6% quarter-over-quarter.
- 15 funds opened new IQ ARB Merger Arbitrage ETF positions in Q3 2025 and 4 closed out, a net change of +11 holders.
- The largest IQ ARB Merger Arbitrage ETF buyer in Q3 2025 was Envestnet Asset Management, an estimated $3.52M added.
- The largest IQ ARB Merger Arbitrage ETF seller in Q3 2025 was B. Riley Wealth Advisors, an estimated $1.87M sold.
Based on aggregated 13F filings for Q3 2025.