Horizon Kinetics SPAC Active ETF (SPAQ)

Assets	$10.08M
Expense Ratio	0.85%
PE Ratio	78.50
Shares Out	107,484
Dividend (ttm)	$15.13
Dividend Yield	16.12%
Ex-Dividend Date	Dec 23, 2025
Payout Frequency	Annual
Payout Ratio	1,275.76%

Volume	9
Open	93.89
Previous Close	93.97
Day's Range	93.89 - 93.89
52-Week Low	89.43
52-Week High	108.25
Beta	0.07
Holdings	64
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

42.54% of assets

Name	Symbol	Weight
Oaktree Acquisition Corp. III Life Sciences	OACC	5.29%
NewHold Investment Corp IV Units (1 Ord Cls A & 1/3 War)	NHIVU	4.57%
Wen Acquisition Corp.	WENN	4.19%
Evolution Global Acquisition Corp	EVOX	4.15%
Space Asset Acquisition Corp.	SAAQ	4.12%
Cantor Equity Partners V, Inc.	CEPV	4.09%
Willow Lane Acquisition Corp. II	WLII	4.05%
Metals Acquisition Corp. II	MTAL	4.05%
OTG Acquisition Corp. I	OTGA	4.04%
Kensington Capital Acquisition Corp VI Units (1 Ord Cls A & 3/4 War Cls 2)	KCA.U	3.99%

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 4.67% in the past year, including dividends. Since the fund's inception, the average annual return has been 6.12%.