Managers / Q1 2026
Main Management Fund Advisors LLC
CIK 0001862787 · 601 CALIFORNIA STREET, SUITE 300, SAN FRANCISCO, CA, 94108 · 4152175800
Summary
Main Management Fund Advisors LLC reported $1.2B in U.S.-listed holdings across 8 positions for Q1 2026.
The portfolio is heavily concentrated: IVV alone accounts for 37.0% of reported value.
Compared with Q4 2025, the fund opened 1 new position and exited 2.
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% · $1.2B
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| STIPState Street Energy Select Sector SPDR ETF USD Class | NEW | +2.48M | 2.48M | +$152M | $152M |
| QQQMState Street Communication Services Select Sector SPDR ETF | ADDED | +629.9K | 1.06M | +$9M | $117M |
| XLCState Street Financial Select Sector SPDR ETF USD Class | ADDED | +1.25M | 2.18M | −$1M | $108M |
| XLFState Street Financial Select Sector SPDR ETF USD Class | SOLD OUT | −2.00M | 0 | −$109M | $0 |
| XLVState Street Health Care Select Sector SPDR ETF USD Class | SOLD OUT | −671.5K | 0 | −$104M | $0 |
| XLEState Street Health Care Select Sector SPDR ETF USD Class | TRIMMED | −1.69M | 731.1K | −$1M | $107M |
| BKLCInvesco Nasdaq 100 ETF USD Class | ADDED | +563.7K | 1.59M | +$117M | $252M |
| IVViShares Core S&P 500 ETF USD Class | ADDED | +190.8K | 808.3K | +$32M | $455M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | IVViShares Core S&P 500 ETF USD Classhistory → | COM | 37.04% | $441M | 675.1K |
| 2 | STIPState Street Energy Select Sector SPDR ETF USD Classhistory → | COM | 12.76% | $152M | 2.48M |
| 3 | BKLCBNY Mellon US Large Cap Core Equity ETF USD Classhistory → | COM | 11.78% | $140M | 1.12M |
| 4 | QQQMState Street Communication Services Select Sector SPDR ETFhistory → | COM | 9.86% | $117M | 1.06M |
| 5 | BKLCInvesco Nasdaq 100 ETF USD Classhistory → | COM | 9.35% | $111M | 468.6K |
| 6 | XLCState Street Financial Select Sector SPDR ETF USD Classhistory → | COM | 9.04% | $108M | 2.18M |
| 7 | XLEState Street Health Care Select Sector SPDR ETF USD Classhistory → | COM | 9.00% | $107M | 731.1K |
| 8 | IVViShares 0-5 Year TIPS Bond ETFhistory → | COM | 1.16% | $14M | 133.2K |
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 ↗.