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	16.69%
Ex-Dividend Date	Dec 23, 2025
Payout Frequency	Annual
Payout Ratio	761.04%

Volume	3
Open	90.66
Previous Close	90.68
Day's Range	90.66 - 90.66
52-Week Low	90.53
52-Week High	108.25
Beta	0.04
Holdings	57
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

52.84% of assets

Name	Symbol	Weight
AI Infrastructure Acquisition Corp.	AIIA	6.38%
Axiom Intelligence Acquisition Corp 1	AXIN	5.72%
Aldel Financial II Inc.	ALDF	5.43%
Oaktree Acquisition Corp. III Life Sciences	OACC	5.40%
Daedalus Special Acquisition Corp Units (1 Ord Class A &1/4 War)	DSACU	5.30%
OTG Acquisition Corp. I	OTGA	5.11%
Legato Merger Corp. III	LEGT	5.05%
Jackson Acquisition Company II	JACS	4.90%
Roman DBDR Acquisition Corp. II	DRDB	4.84%
Apex Treasury Corporation	APXT	4.72%

Dividends

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 7.33% in the past year, including dividends. Since the fund's inception, the average annual return has been 5.81%.