Japan Smaller Capitalization Fund
JOF
51 hedge funds and large institutions have $245M invested in Japan Smaller Capitalization Fund in 2025 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 10 increasing their positions, 20 reducing their positions, and 6 closing their positions.
83% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 6
11% more funds holding
Funds holding: 46 → 51 (+5)
6% more capital invested
Capital invested by funds: $232M → $245M (+$13.2M)
0.23% more ownership
Funds ownership: 77.65% → 77.88% (+0.23%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
50% less repeat investments, than reductions
Existing positions increased: 10 | Existing positions reduced: 20
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Lazard Asset Management
New York
|
+$12.2M |
| 2 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$1.29M |
| 3 |
LPL Financial
San Diego,
California
|
+$608K |
| 4 |
SAMC
Spectrum Asset Management (California)
Newport Beach,
California
|
+$494K |
| 5 |
ACM
Altium Capital Management
New York
|
+$418K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$6.77M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
-$2.34M |
| 3 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
-$1.69M |
| 4 |
Kovitz Investment Group Partners
Chicago,
Illinois
|
-$1.39M |
| 5 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$1.01M |
JOF Hedge Fund Activity: Q4 2025 in Review
51 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Japan Smaller Capitalization Fund (JOF) for Q4 2025, worth a combined $245M — up 5.7% from $232M a quarter earlier.
Buyers outnumbered sellers: 11 funds opened new JOF positions and 6 closed out — a net gain of 5 holders — while 10 added to existing stakes and 20 trimmed.
The largest buyer was Lazard Asset Management, adding an estimated $12.2M. The largest seller was Saba Capital Management, cutting an estimated $6.77M.
- 51 institutional investors held Japan Smaller Capitalization Fund (JOF) as of Q4 2025, up from 46 in Q3 2025.
- Funds reported $245M of Japan Smaller Capitalization Fund stock for Q4 2025, up 5.7% quarter-over-quarter.
- 11 funds opened new Japan Smaller Capitalization Fund positions in Q4 2025 and 6 closed out, a net change of +5 holders.
- The largest Japan Smaller Capitalization Fund buyer in Q4 2025 was Lazard Asset Management, an estimated $12.2M added.
- The largest Japan Smaller Capitalization Fund seller in Q4 2025 was Saba Capital Management, an estimated $6.77M sold.
Based on aggregated 13F filings for Q4 2025.