Horizon Kinetics Japan Owner Operator ETF (JAPN)

Assets	$23.42M
Expense Ratio	0.85%
PE Ratio	16.34
Shares Out	1.03M
Dividend (ttm)	$0.06
Dividend Yield	0.27%
Ex-Dividend Date	Dec 23, 2025
Payout Frequency	n/a
Payout Ratio	4.56%

Volume	4,623
Open	22.80
Previous Close	22.70
Day's Range	22.50 - 22.86
52-Week Low	21.98
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

47.73% of assets

Name	Symbol	Weight
Furuno Electric Co., Ltd.	6814	9.26%
Japan Elevator Service Holdings Co.,Ltd.	6544	5.44%
Resorttrust, Inc.	4681	4.70%
M&A Capital Partners Co.,Ltd.	6080	4.56%
Finatext Holdings Ltd.	4419	4.25%
Hikari Tsushin, Inc.	9435	4.13%
FURYU Corporation	6238	4.01%
ULS Group, Inc.	3798	3.97%
Pan Pacific International Holdings Corporation	7532	3.84%
oRo Co., Ltd.	3983	3.56%

Dividend History

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

Performance

JAPN had a total return of -11.28% in the past year, including dividends. Since the fund's inception, the average annual return has been -8.64%.