Salem Capital Management’s Japan Smaller Capitalization Fund JOF Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2021 Q4	–	Sell	-134,544	Closed	-$1.22M	–	73
2021 Q3	$1.22M	Sell	134,544 -8,442	-6%	-$76.8K	0.67%	37
2021 Q2	$1.29M	Buy	142,986 +1,633	+1%	+$15K	0.71%	36
2021 Q1	$1.31M	Sell	141,353 -3,370	-2%	-$30.9K	0.78%	34
2020 Q4	$1.31M	Sell	144,723 -4,507	-3%	-$40.1K	0.83%	32
2020 Q3	$1.29M	Sell	149,230 -27,062	-15%	-$219K	0.94%	29
2020 Q2	$1.38M	Hold	176,292	–	–	0.99%	30
2020 Q1	$1.24M	Sell	176,292 -13,553	-7%	-$108K	1.03%	30
2019 Q4	$1.7M	Buy	189,845 +12,520	+7%	+$114K	0.92%	32
2019 Q3	$1.55M	Hold	177,325	–	–	0.89%	33
2019 Q2	$1.51M	Sell	177,325 -70,800	-29%	-$606K	0.84%	34
2019 Q1	$2.18M	Buy	248,125 +96,025	+63%	+$838K	1.18%	28
2018 Q4	$1.26M	Buy	152,100 +110,600	+267%	+$1.11M	0.8%	32
2018 Q3	$459K	Buy	+41,500	New	+$460K	0.25%	52