NPORT-EX 2 spaq.htm
Horizon Kinetics SPAC Active ETF
  
Schedule of Investments
  
September 30, 2023 (Unaudited)
  
   
Shares
    
Value
  
COMMON STOCKS — 95.0%
            
Pre-Combination Speacial Purpose Acquisition Companies — 95.0% (a)
            
99 Acquisition Group, Inc. - Unit
    
50,000
    
$
518,500
  
Accretion Acquisition Corp.
    
75,000
      
786,000
  
Alchemy Investments Acquisition Corp. I (b)
    
50,000
      
516,000
  
Alpha Partners Technology Merger Corp. - Class A (b)
    
79,500
      
841,508
  
Apollo Strategic Growth Capital II - Class A (b)
    
68,500
      
719,935
  
Ares Acquisition Corp. II (b)
    
53,710
      
551,602
  
Arrowroot Acquisition Corp. - Class A
    
77,000
      
807,730
  
Bowen Acquisition Corp. (b)
    
79,000
      
805,800
  
Bukit Jalil Global Acquisition I, Ltd. (b)
    
50,000
      
516,500
  
Cartesian Growth Corp. II - Class A (b)
    
66,614
      
719,431
  
Chenghe Acquisition Co. - Class A (b)
    
75,141
      
813,777
  
Concord Acquisition Corp. II - Class A
    
75,000
      
771,000
  
Enphys Acquisition Corp. (b)
    
68,296
      
717,108
  
ESH Acquisition Corp. - Class A
    
40,000
      
404,800
  
ExcelFin Acquisition Corp. - Class A
    
60,000
      
638,400
  
Golden Star Acquisition Corp. (b)
    
48,000
      
494,400
  
Gores Holdings IX, Inc. - Class A
    
70,567
      
733,191
  
Inflection Point Acquisition Corp. II - Class A (b)
    
50,000
      
510,500
  
Investcorp Europe Acquisition Corp. I - Class A (b)
    
58,132
      
632,476
  
Keen Vision Acquisition Corp. (b)
    
23,200
      
236,176
  
Pearl Holdings Acquisition Corp. - Class A (b)
    
45,278
      
485,380
  
Project Energy Reimagined Acquisition Corp. (b)
    
53,500
      
560,680
  
Screaming Eagle Acquisition Corp. - Class A (b)
    
58,159
      
608,343
  
SilverBox Corp. III - Class A
    
27,000
      
276,210
  
SK Growth Opportunities Corp. - Class A (b)
    
45,000
      
483,525
  
Spring Valley Acquisition Corp. II - Class A (b)
    
50,000
      
535,000
  
TOTAL COMMON STOCKS (Cost $15,384,310)
            
15,683,972
  
                 
RIGHTS — 0.3% (a)
                
Bowen Acquisition Corp. (b)
    
44,000
      
8,140
  
Bukit Jalil Global Acquisition I, Ltd. (b)
    
50,000
      
7,525
  
ESH Acquisition Corp. - Class A
    
40,000
      
9,760
  
Golden Star Acquisition Corp. (b)
    
48,000
      
20,640
  
TOTAL RIGHTS (Cost  $30,053)
            
46,065
  
                 
WARRANTS — 0.1% (a)
                
Alchemy Investments Acquisition Corp. I             
Expiration: June 26, 2028, Exercise Price: $11.50 (b)
   
25,000
      
4,562
  
Bukit Jalil Global Acquisition I, Ltd.
Expiration: August 21, 2028, Exercise Price: $11.50 (b)
   
25,000
      
1,625
  
Inflection Point Acquisition Corp. II - Class A
Expiration: July 17, 2028, Exercise Price: $11.50 (b)
   
25,000
      
4,298
  
Keen Vision Acquisition Corp.
Expiration: September 15, 2028, Exercise Price: $11.50 (b)
    
23,200
      
1,334
  
TOTAL WARRANTS (Cost  $10,789)
            
11,819
  
                 
SHORT-TERM INVESTMENTS — 4.7%
                
Deposit Accounts — 4.7%
                
U.S. Bank Money Market Deposit Account, 5.28% (c)
    
775,694
      
775,694
  
TOTAL SHORT-TERM INVESTMENTS (Cost $775,694)
            
775,694
  
                 
TOTAL INVESTMENTS (Cost $16,200,846) — 100.1%
            
16,517,550
  
Other assets and liabilities, net — (0.1)%
            
(17,270
)
NET ASSETS — 100.0%
          
$
16,500,280
  
   

Percentages are stated as a percent of net assets.
                       
(a) Non-income producing security.
                      
(b) Foreign issued security.
                      
(c) The rate shown is the seven-day yield at period end.
                    
                       
COUNTRY
        
Percentage of
Net Assets
            
Cayman Islands
        
64.0%
*
          
United States
        
30.0%
            
British Virgin Islands
        
1.4%
            
Total Country
        
95.4%
            
SHORT-TERM INVESTMENTS
        
4.7%
            
TOTAL INVESTMENTS
        
100.1%
            
Other assets and liabilities, net
        
-0.1%
            
NET ASSETS
        
100.0%
            
                       
* To the extent the Fund invests more heavily in particular countries, its performance will be especially sensitive to developments that singificantly affect those countries.
    
                       
Fair Value Measurements
                      
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels.
            
Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs
            
(including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant
            
unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the
            
securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
              
                       
The Fund did not hold any investments during the period with significant unobservable inputs which would be classified as Level 3.
            
                       
The following is a summary of the inputs used to value the Fund’s investments carried at fair value as of September 30, 2023:
            

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments - Assets:
                        
Common Stocks*
  
$
13,878,147
    
$
1,805,825
    
$
-
    
$
15,683,972
  
Rights
    
30,400
      
15,665
      
-
      
46,065
  
Warrants
    
7,257
      
4,562
      
-
      
11,819
  
Deposit Accounts
    
775,694
      
-
      
-
      
775,694
  
Total Investments - Assets
  
$
14,691,498
    
$
1,826,052
    
$
-
    
$
16,517,550
  
                                 
* See the Schedule of Investments for industry classifications.