Managers / Q3 2025 · 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 $1.0B in U.S.-listed holdings across 8 positions for Q3 2025.
The portfolio is heavily concentrated: IVV alone accounts for 36.5% of reported value.
Compared with Q2 2025, the fund opened 2 new positions and exited 0.
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% · $1.0B
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BKLCBNY Mellon US Large Cap Core Equity ETF USD Class | NEW | +997.9K | 997.9K | +$128M | $128M |
| XLVHealth Care Select Sector SPDR Fund USD Class | NEW | +520.0K | 520.0K | +$72M | $72M |
| SMHVanEck Semiconductor ETF USD Class | TRIMMED | −122.1K | 280.9K | −$21M | $92M |
| XLYConsumer Discretionary Select Sector SPDR Fund | ADDED | +57.1K | 372.6K | +$21M | $89M |
| QQQMInvesco Nasdaq 100 ETF USD Class | TRIMMED | −68.0K | 342.8K | −$9M | $85M |
| IVViShares Core S&P 500 ETF USD Class | TRIMMED | −94.5K | 563.4K | −$31M | $377M |
| XLCCommunication Services Select Sector SPDR Fund USD Class | ADDED | +96.3K | 835.5K | +$19M | $99M |
| XLUUtilities Select Sector SPDR Fund USD Class | ADDED | +101.6K | 1.03M | +$14M | $90M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | IVViShares Core S&P 500 ETF USD Classhistory → | COM | 36.55% | $377M | 563.4K |
| 2 | BKLCBNY Mellon US Large Cap Core Equity ETF USD Classhistory → | COM | 12.42% | $128M | 997.9K |
| 3 | XLCCommunication Services Select Sector SPDR Fund USD Classhistory → | COM | 9.58% | $99M | 835.5K |
| 4 | SMHVanEck Semiconductor ETF USD Classhistory → | COM | 8.88% | $92M | 280.9K |
| 5 | XLUUtilities Select Sector SPDR Fund USD Classhistory → | COM | 8.69% | $90M | 1.03M |
| 6 | XLYConsumer Discretionary Select Sector SPDR Fundhistory → | COM | 8.65% | $89M | 372.6K |
| 7 | QQQMInvesco Nasdaq 100 ETF USD Classhistory → | COM | 8.21% | $85M | 342.8K |
| 8 | XLVHealth Care Select Sector SPDR Fund USD Classhistory → | COM | 7.01% | $72M | 520.0K |
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 ↗.