Saba Capital Management, L.P. filed a Form 4 on November 2, 2026, disclosing two open-market purchases of common stock in Japan Smaller Capitalization Fund Inc (NYSE:JOF) on October 29 and October 30, 2026.

Key Highlights

  • First purchase: 5,083 shares of common stock acquired on October 29, 2026, at $11.31 per share.
  • Second purchase: 58,686 shares of common stock acquired on October 30, 2026, at $10.98 per share.
  • Combined shares purchased: 63,769 shares across the two transactions.
  • Resulting beneficial ownership: 2,822,112 shares held indirectly following the October 30 transaction.
  • Reporting person: Saba Capital Management, L.P., identified as a 10% owner of the issuer.
  • Indirect ownership: Securities are held by funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager, according to the filing.

Saba Capital's Two-Day Accumulation in Japan Smaller Capitalization Fund

According to the Form 4 filing, Saba Capital Management, L.P. purchased a total of 63,769 shares of common stock in Japan Smaller Capitalization Fund Inc over two consecutive trading days. On October 29, 2026, the firm acquired 5,083 shares at a price of $11.31 per share, bringing its indirectly held position to 2,763,426 shares. The transaction code for both purchases is listed as "P," indicating open-market purchases.

On October 30, 2026, Saba Capital Management completed a larger purchase of 58,686 shares at $10.98 per share. Following this transaction, the filing reports total indirect beneficial ownership of 2,822,112 shares. Both transactions are classified as indirect holdings. The filing explains that the securities are held by funds and/or accounts for which Saba Capital Management, L.P. serves as investment manager, and that Boaz R. Weinstein serves as managing member of Saba Capital Management GP, LLC, the general partner of Saba Capital Management, L.P.

The Form 4 was signed on November 2, 2026, by Maria Piccolino on behalf of Saba Capital Management, L.P., and also lists Boaz Weinstein as a signatory on that same date. No derivative securities transactions were reported in Table II of the filing.

What Was Disclosed

Saba Capital Management, L.P. disclosed two open-market purchases of Japan Smaller Capitalization Fund Inc common stock on October 29 and October 30, 2026, totaling 63,769 shares, resulting in indirect beneficial ownership of 2,822,112 shares.