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JOF

Japan Smaller Capitalization Fund
JOF

49 hedge funds and large institutions have $244M invested in Japan Smaller Capitalization Fund in 2017 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 9 increasing their positions, 16 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

38% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 8

7% more funds holding

Funds holding: 46 → 49 (+3)

1.93% less ownership

Funds ownership: 74.79% → 72.85% (-1.9%)

8% less capital invested

Capital invested by funds: $266M → $244M (-$22.3M)

25% less funds holding in top 10

Funds holding in top 10: 4 → 3 (-1)

44% less repeat investments, than reductions

Existing positions increased: 9 | Existing positions reduced: 16

Holders
49
Holders Change
+3
Holders Change %
+6.52%
% of All Funds
1.11%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.07%
New
11
Increased
9
Reduced
16
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
COLIM
City of London Investment Management
United Kingdom
+$5.02M
2
Lazard Asset Management
Lazard Asset Management
New York
+$1.5M
3
OA
Oxbow Advisors
Texas
+$1.11M
4
Morgan Stanley
Morgan Stanley
New York
+$753K
5
TJHA
Thomas J. Herzfeld Advisors
Florida
+$366K

Top Sellers

Rank Fund Capital Flow
1
BIA
Barry Investment Advisors
Massachusetts
-$5.62M
2
KIM
Karpus Investment Management
New York
-$4.17M
3
BI
Bulldog Investors
New Jersey
-$2.71M
4
WAM
Wolverine Asset Management
Illinois
-$1.5M
5
CA
Cornerstone Advisors
North Carolina
-$853K
Name Holding Trade Value Shares
Change 		Change in
Stake
Bank of New York Mellon
26
Bank of New York Mellon
New York
$221K +$239K +18,677 New
GC
27
Gratus Capital
Georgia
$190K – – –
Stifel Financial
28
Stifel Financial
Missouri
$179K -$11K -855 -5%
Creative Planning
29
Creative Planning
Kansas
$172K +$187K +14,559 New
LCM
30
Landscape Capital Management
New Jersey
$172K +$187K +14,563 New
GC
31
Guggenheim Capital
Illinois
$163K +$177K +13,804 New
WS
32
Wedbush Securities
California
$149K – – –
SKK
33
Shepherd Kaplan Krochuk
Massachusetts
$148K – – –
LPL Financial
34
LPL Financial
California
$137K +$18.7K +1,462 +14%
Commonwealth Equity Services
35
Commonwealth Equity Services
Massachusetts
$129K +$140K +10,926 New
WT
36
Washington Trust
Rhode Island
$120K – – –
WA
37
WealthTrust Axiom
Pennsylvania
$119K – – –
BBPWM
38
Blue Bell Private Wealth Management
Pennsylvania
$95K -$15.6K -1,215 -13%
DBT
39
Dubuque Bank & Trust
Iowa
$80K – – –
SWM
40
SeaCrest Wealth Management
New York
$47K +$51.3K +4,000 New
Royal Bank of Canada
41
Royal Bank of Canada
Ontario, Canada
$35K -$30.8K -2,405 -44%
FIB
42
First Interstate Bank
Montana
$28K – – –
LTFS
43
Ladenburg Thalmann Financial Services
Florida
$24K +$25.6K +2,000 New
PFBT
44
Parkside Financial Bank & Trust
Missouri
$21K – – –
Northwestern Mutual Wealth Management
45
Northwestern Mutual Wealth Management
Wisconsin
$16K – – –
Barclays
46
Barclays
United Kingdom
$12K – – –
OMC
47
Oasis Management Company
Cayman Islands
$12K – – –
RFC
48
Regions Financial Corp
Alabama
$6K +$6.99K +545 New
SEI Investments
49
SEI Investments
Pennsylvania
$1K +$1.6K +125 New
LCM
50
Laurion Capital Management
New York
– -$405K -32,220 Closed
1
2
3

JOF Hedge Fund Activity: Q4 2017 in Review

49 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Japan Smaller Capitalization Fund (JOF) for Q4 2017, worth a combined $244M — down 8.4% from $266M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new JOF positions and 8 closed out — a net gain of 3 holders — while 9 added to existing stakes and 16 trimmed.

The largest buyer was City of London Investment Management, adding an estimated $5.02M. The largest seller was Barry Investment Advisors, cutting an estimated $5.62M.

  • 49 institutional investors held Japan Smaller Capitalization Fund (JOF) as of Q4 2017, up from 46 in Q3 2017.
  • Funds reported $244M of Japan Smaller Capitalization Fund stock for Q4 2017, down 8.4% quarter-over-quarter.
  • 11 funds opened new Japan Smaller Capitalization Fund positions in Q4 2017 and 8 closed out, a net change of +3 holders.
  • The largest Japan Smaller Capitalization Fund buyer in Q4 2017 was City of London Investment Management, an estimated $5.02M added.
  • The largest Japan Smaller Capitalization Fund seller in Q4 2017 was Barry Investment Advisors, an estimated $5.62M sold.

Based on aggregated 13F filings for Q4 2017.