Horizon Kinetics SPAC Active ETF (SPAQ)

Assets	$9.90M
Expense Ratio	0.85%
PE Ratio	45.61
Shares Out	107,484
Dividend (ttm)	$15.13
Dividend Yield	16.61%
Ex-Dividend Date	Dec 23, 2025
Payout Frequency	Annual
Payout Ratio	758.12%

Volume	36
Open	91.08
Previous Close	91.03
Day's Range	91.08 - 91.08
52-Week Low	89.43
52-Week High	108.25
Beta	0.04
Holdings	61
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

47.55% of assets

Name	Symbol	Weight
Oaktree Acquisition Corp. III Life Sciences	OACC	5.40%
Daedalus Special Acquisition Corp.	DSAC	5.24%
OTG Acquisition Corp. I	OTGA	5.12%
AI Infrastructure Acquisition Corp.	AIIA	5.07%
Jackson Acquisition Company II	JACS	4.91%
Aldel Financial II Inc.	ALDF	4.51%
Titan Acquisition Corp	TACH	4.42%
Oyster Enterprises II Acquisition Corp	OYSE	4.42%
Roman DBDR Acquisition Corp. II	DRDB	4.23%
Evolution Global Acquisition Corp	EVOX	4.23%

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 6.68% in the past year, including dividends. Since the fund's inception, the average annual return has been 5.74%.