Japan Smaller Capitalization Fund
JOF
50 hedge funds and large institutions have $216M invested in Japan Smaller Capitalization Fund in 2025 Q2 according to their latest regulatory filings, with 4 funds opening new positions, 15 increasing their positions, 18 reducing their positions, and 7 closing their positions.
16% more capital invested
Capital invested by funds: $187M → $216M (+$29.1M)
0.42% more ownership
Funds ownership: 78.75% → 79.17% (+0.42%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
6% less funds holding
Funds holding: 53 → 50 (-3)
17% less repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 18
43% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 7
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$7.12M |
| 2 |
SCM
Saba Capital Management
New York
|
+$4.69M |
| 3 |
BI
Bulldog Investors
Saddle Brook,
New Jersey
|
+$689K |
| 4 |
PHS
Pekin Hardy Strauss
Chicago,
Illinois
|
+$663K |
| 5 |
MAA
Mraz Amerine & Associates
Modesto,
California
|
+$367K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MC
Matisse Capital
Portland,
Oregon
|
-$3.04M |
| 2 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
-$2.88M |
| 3 |
COLIM
City of London Investment Management
London,
United Kingdom
|
-$1.81M |
| 4 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$1.5M |
| 5 |
HC
Hara Capital
Bellevue,
Washington
|
-$1.11M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
MC
51
Matisse Capital
Portland,
Oregon
| – | -$3.04M | -362,000 | Closed |
|
|
MG
52
Marex Group
London,
| – | -$245K | -29,150 | Closed |
|
|
CL
53
CSS LLC
Chicago,
Illinois
| – | -$158K | -18,873 | Closed |
|
54
HighTower Advisors
Chicago,
Illinois
| – | -$127K | -15,170 | Closed |
|
|
VF
55
Virtu Financial
New York
| – | -$94K | -11,262 | Closed |
|
|
UBP
56
Union Bancaire Privee
Geneva 1,
Switzerland
| – | -$35.2K | -4,200 | Closed |
|
|
BC
57
Broadwater Capital
Boston,
Massachusetts
| – | -$571 | -68 | Closed |
|
JOF Hedge Fund Activity: Q2 2025 in Review
50 of the 7,599 institutional investors tracked by Wall St. Rank reported a position in Japan Smaller Capitalization Fund (JOF) for Q2 2025, worth a combined $216M — up 16% from $187M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of JOF and 4 opened new positions — a net loss of 3 holders — while 18 trimmed existing stakes and 15 added.
The largest buyer was Bank of America, adding an estimated $7.12M. The largest seller was Matisse Capital, exiting entirely with an estimated $3.04M sold.
- 50 institutional investors held Japan Smaller Capitalization Fund (JOF) as of Q2 2025, down from 53 in Q1 2025.
- Funds reported $216M of Japan Smaller Capitalization Fund stock for Q2 2025, up 16% quarter-over-quarter.
- 4 funds opened new Japan Smaller Capitalization Fund positions in Q2 2025 and 7 closed out, a net change of -3 holders.
- The largest Japan Smaller Capitalization Fund buyer in Q2 2025 was Bank of America, an estimated $7.12M added.
- The largest Japan Smaller Capitalization Fund seller in Q2 2025 was Matisse Capital, an estimated $3.04M sold.
Based on aggregated 13F filings for Q2 2025.