Exclusive: New SPAC ETF Creator On SPACs, Management Teams, Top Holdings
Exclusive: New SPAC ETF Creator On SPACs, Management Teams, Top Holdings
Through Dec. 8, 217 SPACs have launched year-to-date, raising $74 billion. A new actively managed SPAC ETF from Tuttle Tactical Management launched on Wednesday.
塔特尔战术管理公司(Tuttle Tactical Management)周三推出了一只新的积极管理型SPAC ETF。
The SPAC ETF: Tuttle launched the SPAC and New Issue ETF (NYSE:SPCX). The ETF is the first actively managed one that gives investors exposure to SPACs.
SPAC ETF：塔特尔推出了SPAC与新股ETF(纽约证券交易所：SPCX)。该ETF是首只主动管理型、让投资者获得SPAC敞口的ETF。
“The SPAC ETF we wanted to do because we see SPACs an entirely new asset class,” CEO Matthew Tuttle told Benzinga.
首席执行官马修·塔特尔对Benzinga表示：“我们之所以想做SPAC ETF，是因为我们认为SPAC是一个全新的资产类别。”
Through Dec. 8, 217 SPACs have launched year-to-date, raising $74 billion.
截至12月8日，今年迄今已有217家SPAC成立，募集资金740亿美元。
Why Active Management? Combining assets that don’t move at the same time is the goal of the ETF, Tuttle said.
为什么选择主动管理？塔特尔说，合并不会同时移动的资产是ETF的目标。
The fund manager likes the idea of SPACs having a $10 floor, with the opportunity for a large pop on a deal announcement.
这位基金经理喜欢SPAC有10美元下限的想法，并有机会在宣布交易时大幅上涨。
“SPACs are an ever-evolving market,” he said.
“SPAC是一个不断发展的市场，”他说。
New SPACs are issued nearly every day, which makes it hard not to actively manage the holdings in an ETF like this one, Tuttle said.
塔特尔表示，几乎每天都有新的SPAC发行，这使得不积极管理像这样的ETF所持股份变得困难。
ETF Holds 100% SPACs: The goal of the ETF is not to give stock exposure, which means the fund could sell holdings after a deal is announced or completed.
ETF持有100%SPAC：ETF的目标不是提供股票敞口，这意味着该基金可以在交易宣布或完成后出售所持股份。
This would be done on a case-by-case basis, Tuttle said.
塔特尔说，这将在个案的基础上完成。
Unlike a peer SPAC ETF, this fund does not hold any former SPACs. The ETF will hold units, common shares and possibly warrants.
不同于同业SPAC ETF，该基金不持有任何前SPAC。ETF将持有单位、普通股和可能的认股权证。
The fund manager told Benzinga he has no problem holding warrants and would do this on a case-by-case basis.
这位基金经理告诉Benzinga，他持有权证没有问题，并将根据具体情况进行处理。
What’s Next For SPACs: The number of SPACs issued could taper off, Tuttle said.
SPAC的下一步是什么：塔特尔表示，SPAC的发行数量可能会逐渐减少。
“I don’t think it’s a fad or a trend.”
“我不认为这是一种时尚或潮流。”
When gains are harder to come by in normal stocks, he said people could shift into SPACs.
他说，当普通股票很难获得涨幅时，人们可以转向SPAC。
Investing In Management Teams: Similar to what other fund managers and analysts, Tuttle is betting on the management teams behind the SPACs that have not announced deals.
投资管理团队：与其他基金经理和分析师类似，塔特尔将赌注押在尚未宣布交易的SPAC背后的管理团队上。
“We’re looking at it the same way an active stock manager looks at it,” Tuttle said.
塔特尔表示：“我们看待这一问题的方式，与一位活跃的股票经理的看法相同。”
Investors don’t want to buy something at $10 and have it stay at $10, so they want good management teams that are going to make good deals, he said.
他说：投资者不想以10美元的价格买入一只股票，然后让它停留在10美元的价位，所以他们希望有优秀的管理团队，能够达成不错的交易。
“It comes down to the management team.”
“归根结底，这取决于管理团队。”
SPAC Holdings: The ETF holds 42 SPACs as of its first day of trading. The top 10 holdings in the SPAC are:
太古控股：截至首日交易，该ETF持有42只SPAC。SPAC的前十大持有量如下：
Churchill Capital Corp IV (NASDAQ:CCIV): 6.7%
丘吉尔资本公司第四期(纳斯达克：CCIV): 6.7%
Foley Transimene Acquisition (NASDAQ:WPF): 4.4%
Foley Transimene收购(纳斯达克：WPF): 4.4%
Social Capital Hedosophia Holdings VI (NASDAQ:IPOF): 4.1%
社会资本Hedosopia Holdings VI(纳斯达克：IPOF): 4.1%
Dragoneer Growth Opportunities Corp (NASDAQ:DGNR): 3.4%
Dragoneer增长机会公司(纳斯达克：DGNR): 3.4%
Social Capital Hedosophia Holdings V (NASDAQ:IPOE): 3.3%
社会资本Hedosopia Holdings V(纳斯达克：IPOE): 3.3%
CC Neuberger Principal Holdings II (NASDAQ:PRPB): 3.0%
CC Neuberger委托人控股II(纳斯达克：PRPB): 3.0%
Apollo Strategic Growth (NASDAQ:APSG): 2.9%
阿波罗战略增长(纳斯达克：APSG): 2.9%
Redball Acquisition Corp (NASDAQ:RBAC): 2.9%
红球收购公司(纳斯达克：基于角色的访问控制): 2.9%
E.Merge Technology (NASDAQ:ETAC): 2.9%
E.合并技术(纳斯达克：埃塔克): 2.9%
Avanti Acquisition Corp (NASDAQ:AVAN): 2.9%
Avanti收购公司(纳斯达克：Avan): 2.9%
Find the full ETF holdings here.
找到这里是ETF的全部持股.
Tuttle Tactical Management CEO Matt Tuttle. Courtesy photo.
塔特尔战术管理公司首席执行官马特·塔特尔。礼貌性照片。
