Listed Funds Trust - Horizon Kinetics Japan Owner Operator ETF
JAPN
NASDAQ- -
USD
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 615 East Michigan Street Milwaukee WI United States of America 53202
- IPO Date
- May 13, 2025
- Similar Companies
- Business
- Listed Funds Trust - Horizon Kinetics Japan Owner Operator ETF is a U.S.-domiciled, actively managed equity exchange-traded fund that seeks long-term capital appreciation through investments primarily in Japanese owner-operated companies. The Fund, which trades on the Nasdaq Stock Market under the ticker JAPN, invests under normal circumstances at least 80% of its net assets, plus borrowings for investment purposes, in securities of companies located in Japan; eligible investments include common stocks, preferred stocks and depositary receipts, including American, European and global depositary receipts. It targets businesses in which founders, senior executives, directors, key managers or other operationally significant individuals maintain meaningful ownership positions, generally seeking companies where such owner-operators collectively own more than 5% of outstanding shares. Horizon Kinetics Asset Management LLC serves as investment adviser and applies a bottom-up, value-oriented fundamental research process, incorporating proprietary research and engagement with company management and industry participants. The portfolio typically comprises 30 to 50 holdings across sectors and market capitalizations, with an expected emphasis on smaller Japanese companies and enterprises generating predominantly locally driven revenues. The Fund is non-diversified and may concentrate investments in particular issuers, sectors or industry groups. As of September 9, 2026, principal holdings include Furuno Electric Co. Ltd.; M&A Capital Partners Co. Ltd.; Finatext Holdings Ltd.; Resorttrust Inc.; Furyu Corp.; Hikari Tsushin Inc.; Japan Elevator Service Holdings Co. Ltd.; ULS Group Inc.; Tsuburaya Fields Holdings Inc.; and KeePer Technical Laboratory Co. Ltd. JAPN was established on May 12, 2025, as a series of Listed Funds Trust, whose principal executive offices are in Milwaukee, Wisconsin; the Fund’s investment adviser is based in New York, New York. Its latest major strategic development is its May 2025 launch by Horizon Kinetics as the firm’s sixth ETF and its first actively managed strategy dedicated to Japanese owner-operated businesses, expanding Horizon Kinetics’ active ETF platform into Japan-focused equities. The Fund continues to operate with a 0.85% expense ratio and reported net assets of approximately $25.7 million as of September 8, 2026.