Horizon Kinetics SPAC Active ETF (SPAQ)

• Market cap: $13.2M
• 1 day: 0%
• 5 days: -0.39%
• 1 month: -0.39%
• 3 months: -1.22%
• 6 months: 4.02%
• Year to date: 5.28%
• 1 year: 4.49%
• 5 years: 9.63%
• 10 years: 9.63%

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

33% more funds holding

Funds holding: 3 [Q1] → 4 (+1) [Q2]

5.3% less ownership

Funds ownership: 80.48% [Q1] → 75.18% (-5.3%) [Q2]

10% less capital invested

Capital invested by funds: $13.8M [Q1] → $12.4M (-$1.39M) [Q2]

100% less repeat investments, than reductions

Existing positions increased: 0 | Existing positions reduced: 1