Horizon Kinetics Japan Owner Operator ETF (JAPN)

Assets	$24.98M
Expense Ratio	0.85%
PE Ratio	18.47
Shares Out	975,000
Dividend (ttm)	$0.06
Dividend Yield	0.24%
Ex-Dividend Date	Dec 23, 2025
Payout Frequency	n/a
Payout Ratio	4.41%

Volume	1,455
Open	25.88
Previous Close	25.71
Day's Range	25.80 - 25.89
52-Week Low	25.00
52-Week High	30.25
Beta	n/a
Holdings	35
Inception Date	May 12, 2025

About JAPN

Fund Home Page

The Horizon Kinetics Japan Owner Operator ETF (JAPN) is an exchange-traded fund that mostly invests in total market equity. The fund is actively managed, investing in a portfolio of Japanese companies that are owner-operated, or whose owners have significant stakes in their companies. The fund seeks long-term capital growth. JAPN was launched on May 12, 2025 and is issued by Horizon Kinetics.

• Asset Class: Equity
• Category: Japan Stock
• Region: Global
• Stock Exchange: NASDAQ
• Ticker Symbol: JAPN
• ETF Provider: Horizon Kinetics

Top 10 Holdings

51.50% of assets

Name	Symbol	Weight
Furuno Electric Co., Ltd.	6814	11.45%
US BANK MMDA - USBGFS 7	n/a	6.40%
ULS Group, Inc.	3798	4.89%
Resorttrust, Inc.	4681	4.67%
Japan Elevator Service Holdings Co.,Ltd.	6544	4.48%
Hikari Tsushin, Inc.	9435	4.43%
Visional, Inc.	4194	3.95%
M&A Capital Partners Co.,Ltd.	6080	3.88%
YONEX Co., Ltd.	7906	3.69%
Pan Pacific International Holdings Corporation	7532	3.66%

Dividends

Ex-Dividend	Amount	Pay Date
Dec 23, 2025	$0.0617	Dec 24, 2025