We are live on ! Find out more
MNA icon

IQ ARB Merger Arbitrage ETF
MNA

86 hedge funds and large institutions have $176M invested in IQ ARB Merger Arbitrage ETF in 2025 Q4 according to their latest regulatory filings, with 12 funds opening new positions, 28 increasing their positions, 32 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 8

9% more capital invested

Capital invested by funds: $161M → $176M (+$14.8M)

5% more funds holding

Funds holding: 82 → 86 (+4)

3.2% more ownership

Funds ownership: 63.23% → 66.43% (+3.2%)

13% less repeat investments, than reductions

Existing positions increased: 28 | Existing positions reduced: 32

Holders
86
Holders Change
+4
Holders Change %
+4.88%
% of All Funds
1.05%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
12
Increased
28
Reduced
32
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
IWM
IHT Wealth Management
Illinois
+$5.16M
2
Ameriprise
Ameriprise
Minnesota
+$3.4M
3
NYLIM
New York Life Investment Management
New York
+$3.11M
4
Jane Street
Jane Street
New York
+$1.53M
5
Raymond James Financial
Raymond James Financial
Florida
+$1.18M

Top Sellers

Rank Fund Capital Flow
1
GS
GTS Securities
New York
-$1.07M
2
LPL Financial
LPL Financial
California
-$890K
3
LSWP
Liberty Square Wealth Partners
Pennsylvania
-$597K
4
OAM
Oppenheimer Asset Management
New York
-$432K
5
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$380K
Name Holding Trade Value Shares
Change 		Change in
Stake
HWA
76
HHM Wealth Advisors
Tennessee
$16K – – –
CAM
77
Costello Asset Management
Pennsylvania
$10.7K – – –
SWIM
78
Smallwood Wealth Investment Management
New Jersey
$9.16K – – –
AAP
79
Arax Advisory Partners
Colorado
$5.58K – – –
AF
80
Allworth Financial
California
$4.69K +$4.69K +131 New
Fidelity Investments
81
Fidelity Investments
Massachusetts
$3.94K +$3.19K +89 +424%
OSAM
82
O'Shaughnessy Asset Management
Connecticut
$2.76K – – –
FHA
83
Flagship Harbor Advisors
Massachusetts
$2.54K +$2.54K +71 New
ECA
84
Elevated Capital Advisors
Utah
$1.9K +$1.9K +53 New
CA
85
CoreCap Advisors
Michigan
$215 – – –
SWP
86
Strategic Wealth Partners
Ohio
$150 -$334K -9,329 -100%
GS
87
GTS Securities
New York
– -$1.07M -29,783 Closed
WAM
88
Worth Asset Management
Texas
– -$363K -10,103 Closed
Susquehanna International Group
89
Susquehanna International Group
Pennsylvania
– -$212K -5,915 Closed
ASN
90
Advisory Services Network
Georgia
– -$19.2K -534 Closed
UBS Group
91
UBS Group
Switzerland
– -$13.7K -382 Closed
AAS
92
Ameritas Advisory Services
Nebraska
– -$4.81K -134 Closed
KFI
93
Key Financial Inc
Pennsylvania
– -$466 -13 Closed
Q1WB
94
Quest 10 Wealth Builders
Virginia
– -$72 -2 Closed
1 2 3
4

MNA Hedge Fund Activity: Q4 2025 in Review

86 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in IQ ARB Merger Arbitrage ETF (MNA) for Q4 2025, worth a combined $176M — up 9.2% from $161M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new MNA positions and 8 closed out — a net gain of 4 holders — while 28 added to existing stakes and 32 trimmed.

The largest buyer was IHT Wealth Management, opening a new position worth an estimated $5.16M. The largest seller was GTS Securities, exiting entirely with an estimated $1.07M sold.

  • 86 institutional investors held IQ ARB Merger Arbitrage ETF (MNA) as of Q4 2025, up from 82 in Q3 2025.
  • Funds reported $176M of IQ ARB Merger Arbitrage ETF stock for Q4 2025, up 9.2% quarter-over-quarter.
  • 12 funds opened new IQ ARB Merger Arbitrage ETF positions in Q4 2025 and 8 closed out, a net change of +4 holders.
  • The largest IQ ARB Merger Arbitrage ETF buyer in Q4 2025 was IHT Wealth Management, an estimated $5.16M added.
  • The largest IQ ARB Merger Arbitrage ETF seller in Q4 2025 was GTS Securities, an estimated $1.07M sold.

Based on aggregated 13F filings for Q4 2025.