Managers / Q3 2023 · view latest →
Main Management Fund Advisors LLC
CIK 0001862787 · 601 CALIFORNIA STREET, SUITE 300, SAN FRANCISCO, CA, 94108 · 4152175800
Summary
Main Management Fund Advisors LLC reported $344M in U.S.-listed holdings across 8 positions for Q3 2023.
The portfolio is heavily concentrated: SPY alone accounts for 38.6% of reported value.
Compared with Q2 2023, the fund opened 1 new position and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ETP · 100.0% · $344M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| XLIIndustrial Select Sector SPDR Fund | NEW | +361.0K | 361.0K | +$37M | $37M |
| ITAiShares US Aerospace & Defense ETF | SOLD OUT | −216.9K | 0 | −$25M | $0 |
| TFLOiShares Treasury Floating Rate Bond ETF | TRIMMED | −100.2K | 215.3K | −$5M | $11M |
| SMHVanEck Semiconductor ETF | ADDED | +36.0K | 267.1K | +$4M | $39M |
| QQQInvesco QQQ Trust Series 1 | ADDED | +14.8K | 110.2K | +$4M | $39M |
| SPYSPDR S&P 500 ETF Trust | ADDED | +41.6K | 310.4K | +$14M | $133M |
| EFAiShares MSCI EAFE ETF | ADDED | +57.4K | 429.1K | +$3M | $30M |
| XLYConsumer Discretionary Select Sector SPDR Fund | ADDED | +29.4K | 219.9K | +$3M | $35M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SPYSPDR S&P 500 ETF Trusthistory → | COM | 38.58% | $133M | 310.4K |
| 2 | QQQInvesco QQQ Trust Series 1history → | COM | 11.48% | $39M | 110.2K |
| 3 | SMHVanEck Semiconductor ETFhistory → | COM | 11.26% | $39M | 267.1K |
| 4 | XLIIndustrial Select Sector SPDR Fundhistory → | COM | 10.64% | $37M | 361.0K |
| 5 | XLYConsumer Discretionary Select Sector SPDR Fundhistory → | COM | 10.29% | $35M | 219.9K |
| 6 | EFAiShares MSCI EAFE ETFhistory → | COM | 8.60% | $30M | 429.1K |
| 7 | XBISPDR S&P Biotech ETFhistory → | COM | 5.97% | $21M | 281.0K |
| 8 | TFLOiShares Treasury Floating Rate Bond ETFhistory → | COM | 3.18% | $11M | 215.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $1.2B | 8 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $1.1B | 7 | Feb 10, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $1.0B | 8 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $839M | 6 | Aug 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $682M | 6 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $655M | 6 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $583M | 5 | Nov 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $555M | 6 | Aug 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $492M | 6 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $357M | 6 | Feb 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $344M | 8 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $310M | 8 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $229M | 8 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $159M | 8 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $139M | 8 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $141M | 8 | Aug 11, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $155M | 7 | May 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $140M | 6 | Feb 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $130M | 7 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $127M | 6 | Aug 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $114M | 6 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.