Main Management Fund Advisors’s VanEck Semiconductor ETF SMH Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-280,900	Closed	-$91.7M	–	8
2025 Q3	$91.7M	Sell	280,900 -122,100	-30%	-$36.1M	8.88%	4
2025 Q2	$112M	Buy	403,000 +32,500	+9%	+$7.54M	13.4%	2
2025 Q1	$78.3M	Buy	370,500 +31,800	+9%	+$7.62M	11.48%	2
2024 Q4	$82M	Buy	338,700 +26,500	+8%	+$6.57M	12.52%	2
2024 Q3	$76.6M	Buy	312,200 +26,200	+9%	+$6.37M	13.14%	2
2024 Q2	$74.6M	Buy	286,000 +22,700	+9%	+$5.32M	13.43%	2
2024 Q1	$59.2M	Buy	263,300 +26,600	+11%	+$5.35M	12.04%	2
2023 Q4	$41.4M	Sell	236,700 -30,400	-11%	-$4.76M	11.59%	4
2023 Q3	$38.7M	Buy	267,100 +36,000	+16%	+$5.45M	11.26%	3
2023 Q2	$35.2M	Buy	231,100 +41,900	+22%	+$5.66M	11.33%	3
2023 Q1	$24.9M	Buy	189,200 +28,800	+18%	+$3.45M	10.85%	3
2022 Q4	$16.3M	Buy	160,400 +9,000	+6%	+$915K	10.27%	3
2022 Q3	$14M	Buy	+151,400	New	+$16.5M	10.06%	4