Horizon Kinetics SPAC Active ETF (SPAQ)

Assets	$9.94M
Expense Ratio	0.85%
PE Ratio	78.50
Shares Out	107,484
Dividend (ttm)	$15.13
Dividend Yield	16.37%
Ex-Dividend Date	Dec 23, 2025
Payout Frequency	Annual
Payout Ratio	1,288.84%

Volume	16
Open	92.41
Previous Close	92.40
Day's Range	92.41 - 92.41
52-Week Low	89.43
52-Week High	108.25
Beta	0.07
Holdings	66
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

43.68% of assets

Name	Symbol	Weight
Oaktree Acquisition Corp. III Life Sciences	OACC	5.35%
NewHold Investment Corp IV Units (1 Ord Cls A & 1/3 War)	NHIVU	4.56%
Titan Acquisition Corp	TACH	4.43%
Inflection Point Acquisition Corp VI Unit (1 Ord Cls A & 1/3 War)	IPFXU	4.42%
Wen Acquisition Corp.	WENN	4.24%
Evolution Global Acquisition Corp	EVOX	4.21%
Space Asset Acquisition Corp.	SAAQ	4.15%
Cantor Equity Partners V, Inc.	CEPV	4.13%
Kensington Capital Acquisition Corp Vi	KCAC.U	4.11%
OTG Acquisition Corp. I	OTGA	4.09%

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 4.92% in the past year, including dividends. Since the fund's inception, the average annual return has been 108.60%.