Horizon Kinetics SPAC Active ETF (SPAQ)

Assets	$9.85M
Expense Ratio	0.85%
PE Ratio	45.61
Shares Out	107,484
Dividend (ttm)	$15.13
Dividend Yield	16.64%
Ex-Dividend Date	Dec 23, 2025
Payout Frequency	Annual
Payout Ratio	758.24%

Volume	32
Open	90.94
Previous Close	91.01
Day's Range	90.94 - 90.94
52-Week Low	89.43
52-Week High	108.25
Beta	0.05
Holdings	60
Inception Date	Jan 27, 2023

About SPAQ

Fund Home Page

The Horizon Kinetics SPAC Active ETF (SPAQ) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed to provide exposure to globally listed, pre-combination special purpose acquisition companies (SPACs) of any capitalization. SPAQ was launched on Jan 27, 2023 and is issued by Horizon Kinetics.

• Asset Class: Equity
• Category: Financial
• Region: Global
• Stock Exchange: NASDAQ
• Ticker Symbol: SPAQ
• ETF Provider: Horizon Kinetics

Top 10 Holdings

45.70% of assets

Name	Symbol	Weight
Oaktree Acquisition Corp. III Life Sciences	OACC	5.37%
AI Infrastructure Acquisition Corp.	AIIA	5.09%
Jackson Acquisition Company II	JACS	4.94%
Aldel Financial II Inc.	ALDF	4.54%
Oyster Enterprises II Acquisition Corp	OYSE	4.45%
Titan Acquisition Corp	TACH	4.45%
Roman DBDR Acquisition Corp. II	DRDB	4.24%
Evolution Global Acquisition Corp	EVOX	4.24%
Wen Acquisition Corp	WENN	4.24%
Space Asset Acquisition Corp Units (1 Ord Cls A & 1/3 War)	SAAQU	4.14%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 23, 2025	$15.13126	Dec 24, 2025
Dec 24, 2024	$2.94761	Dec 26, 2024
Dec 27, 2023	$2.52983	Dec 29, 2023

Performance

SPAQ had a total return of 6.21% in the past year, including dividends. Since the fund's inception, the average annual return has been 5.58%.