Morgan Creek - Exos SPAC Originated ETF
SPXZ
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- Jan 25, 2021
- CIK
- 0001683471
- Similar Companies
- Business
- Morgan Creek - Exos SPAC Originated ETF (SPXZ) is an actively managed exchange-traded fund that seeks capital appreciation by investing primarily in U.S.-listed special purpose acquisition companies (SPACs), including their equity securities, warrants, and derivatives; post-combination SPACs; and companies that have merged with or been acquired by SPACs, with a focus on growth and value stocks across diversified sectors and market capitalizations. The fund employs a strategy of equal dollar weighting across a diversified portfolio of typically 100 holdings to limit exposure to underperformers, utilizing proprietary technology for algorithmic market making and capital recycling between premium and non-premium SPAC issuers to optimize risk-adjusted returns backed by SPAC trust collateral such as U.S. Treasury bills. Launched under Listed Funds Trust on January 26, 2021, and listed on NYSE Arca, the ETF was advised by Morgan Creek Capital Management, LLC (founded 2004, headquartered in Chapel Hill, North Carolina) and sub-advised by Exos Asset Management, LLC (headquartered in New York, New York), targeting institutional and retail investors seeking exposure to the SPAC ecosystem without traditional cash-like risks. In a significant operational change, SPXZ ceased trading on August 18, 2022, liquidated its assets, and distributed approximately $11.00-$11.02 per share to remaining shareholders, marking the fund's closure amid challenging market conditions for SPACs. Subsequently, Morgan Creek and Exos launched the successor Morgan Creek-Exos Active SPAC Arbitrage ETF (CSH) in May 2022, which focuses on pre-combination SPACs for short-duration, collateralized returns, reflecting a strategic pivot to arbitrage opportunities in the evolving SPAC landscape. The original SPXZ operated solely in U.S. public equity markets with no reported subsidiaries, parent entities, or recent partnerships beyond the core advisory alliance.