Main Management ETF Advisors, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Main Management ETF Advisors, LLC reported 122 stock positions worth $2.7 billion. Its top holding was SS Technology Select Sector (XLK) at 28.0% of the portfolio, followed by SS Comm Select Sector SPDR (XLC, 13.4%) and SS Health Care Select Sector (XLV, 11.9%). Compared with Q2 2025, it opened 59 new positions, sold out of 73, added to 47 and reduced 16. The biggest buy was SS Technology Select Sector (XLK, shares +198%) and the biggest sale an exit from Invesco QQQ Trust Series 1 (QQQ).

Most Recent 13F
Q2 2026
Location
SAN FRANCISCO, CA
CIK
0001698607
Portfolio Value
$2.7B (Q3 2025)
SEC Filing
0001698607-25-000004 ↗ filed Nov 14, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $1.9B Q1 2024 Q2 2024: $2.0B Q2 2024 Q3 2024: $2.1B Q3 2024 Q4 2024: $2.2B Q4 2024 Q1 2025: $2.1B Q1 2025 Q2 2025: $2.4B Q2 2025 Q3 2025: $2.7B $2.7B Q3 2025 Q4 2025: $2.8B Q4 2025 Q1 2026: $2.7B Q1 2026 Q2 2026: $3.3B Q2 2026

Holdings 122 stocks · $2.7B
XLK SS Technology Select Sector 28.02% 2,684,198 $756.6M Add +197.9%
XLC SS Comm Select Sector SPDR 13.35% 3,045,715 $360.5M Add +2.6%
XLV SS Health Care Select Sector 11.92% 2,312,232 $321.8M Add +59.1%
XLF SS Financial Select Sector 11.63% 5,829,961 $314.1M Add +10.6%
XLY SS Consumer Disc Select Sect 8.11% 914,057 $219.0M Add +16.3%
SMH Vaneck Semiconductor ETF 5.41% 447,627 $146.1M Reduce -52.7%
IGV iShares Expanded Tech-Softwa 5.07% 1,190,154 $136.9M Reduce -28.7%
ITB iShares U.S. Home Constructi 2.49% 627,402 $67.3M Add +61.0%
IDEV iShares Core MSCI Dev MKTS 2.16% 729,000 $58.4M Add +4.7%
IEMG iShares Core MSCI Emerging 0.96% 394,200 $26.0M Add +4.7%
TRIXX State St Inst TR MMKT-Prem 0.71% 19,167,003 $19.2M Reduce -19.5%
SPEU State Street SPDR Portfolio 0.68% 369,900 $18.4M Add +4.7%
KWEB Kranesh Csi China Internet 0.58% 371,916 $15.6M Add +7.6%
SPEM State Street SP PTF Em ETF 0.40% 228,178 $10.7M Add +17.9%
NET Cloudflare Inc. Class A 0.33% 41,849 $9.0M Add +67.9%
FLMX Franklin Ftse Mexico ETF 0.32% 260,076 $8.6M Add +9.6%
VPL Vanguard Ftse Pacific ETF 0.31% 94,500 $8.3M Add +4.7%
NVDA Nvidia Corp. 0.28% 40,300 $7.5M Reduce -5.2%
ORCL Oracle Corp. 0.25% 24,025 $6.8M Add +104.8%
NBIS Nebius Group NV 0.19% 45,725 $5.1M New
RBRK Rubrik Inc. Class A 0.18% 60,450 $5.0M Add +106.2%
SE Sea Ltd.-ADR 0.16% 24,025 $4.3M Add +56.1%
SNOW Snowflake Inc. 0.16% 18,600 $4.2M Add +10.3%
AVGO Broadcom Inc. 0.15% 12,400 $4.1M Reduce -29.5%
CRWD CrowdStrike Holdings Inc. Class A 0.14% 7,749 $3.8M Add +164.3%
ZS Zscaler Inc. 0.14% 12,399 $3.7M Add +111.4%
FLCA Franklin Ftse Canada ETF 0.14% 81,000 $3.7M Add +4.7%
ALAB Astera Labs Inc. 0.13% 18,600 $3.6M Add +26.9%
CRDO Credo Technology Group Holdi 0.12% 22,475 $3.3M Add +91.6%
RBLX Roblox Corp. Class A 0.12% 23,250 $3.2M Reduce -39.0%
AVAV Aerovironment Inc. 0.11% 9,300 $2.9M New
FUBO Fubotv Inc. 0.11% 691,300 $2.9M New
MSFT Microsoft Corp. 0.10% 5,425 $2.8M Add +23.4%
XPEV Xpeng Inc. - ADR 0.10% 113,925 $2.7M New
CORZ Core Scientific Inc. 0.10% 145,700 $2.6M Add +77.5%
DLO Dlocal Ltd. 0.09% 177,475 $2.5M Add +21.1%
SOFI Sofi Technologies Inc. 0.09% 93,775 $2.5M New
GLXY Galaxy Digital Inc. Class A 0.09% 70,525 $2.4M New
GEN Gen Digital Inc. 0.09% 82,925 $2.4M Add +117.6%
CRWV Coreweave Inc. Class A 0.09% 17,050 $2.3M New
SHOP Shopify Inc. Class A 0.09% 15,500 $2.3M Add +92.2%
ARGX Argenx SE - ADR 0.08% 3,100 $2.3M Add +111.5%
CYBR Cyberark Software Ltd./Israel 0.08% 4,650 $2.2M Add +58.6%
SAIL Sailpoint Inc. 0.08% 101,525 $2.2M New
APP AppLovin Corp. Class A 0.08% 3,100 $2.2M Reduce -53.0%
TTWO Take-Two Interactive Softwre 0.08% 8,525 $2.2M Add +16.3%
ASND Ascendis Pharma A/S 0.08% 10,850 $2.2M Add +85.0%
TEM Tempus AI Inc. Class A 0.08% 26,350 $2.1M New
PGY Pagaya Technologies Ltd. Class A 0.08% 71,300 $2.1M New
MU Micron Technology Inc. 0.08% 12,400 $2.1M Add +30.1%
CVNA Carvana Co. 0.08% 5,425 $2.0M New
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.07% 24,800 $2.0M Add +160.3%
GENI Genius Sports Ltd. 0.07% 161,975 $2.0M Add +11.1%
SERV Serve Robotics Inc. 0.07% 165,075 $1.9M Add +221.7%
INSM Insmed Inc. 0.07% 13,175 $1.9M New
RGTI Rigetti Computing Inc. 0.07% 63,550 $1.9M New
VNET Vnet Group Inc.-ADR 0.07% 181,350 $1.9M Add +7.6%
GLBE Global-E Online Ltd. 0.07% 51,925 $1.9M Add +72.8%
PLTR Palantir Technologies Inc. Class A 0.07% 10,075 $1.8M Reduce -80.9%
MELI MercadoLibre Inc. 0.07% 775 $1.8M New
KRYS Krystal Biotech Inc. 0.07% 10,075 $1.8M Add +96.4%
COHR Coherent Corp. 0.06% 16,275 $1.8M New
MARA Mara Holdings Inc. 0.06% 93,775 $1.7M New
QBTS D-Wave Quantum Inc. 0.06% 68,975 $1.7M Reduce -55.4%
PODD Insulet Corp. 0.06% 5,425 $1.7M New
WGS Genedx Holdings Corp. 0.06% 15,500 $1.7M New
DDOG Datadog Inc. Class A 0.06% 11,625 $1.7M Add +76.2%
GH Guardant Health Inc. 0.06% 26,350 $1.6M Add +24.0%
JD Jd.com Inc.-ADR 0.06% 46,500 $1.6M New
IONQ Ionq Inc. 0.06% 26,350 $1.6M Reduce -44.7%
VEEV Veeva Systems Inc. Class A 0.06% 5,425 $1.6M New
GWRE Guidewire Software Inc. 0.06% 6,975 $1.6M Reduce -26.8%
INTU Intuit Inc. 0.06% 2,325 $1.6M New
FLUT Flutter Entertainment PLC-Di 0.06% 6,200 $1.6M New
BBIO Bridgebio Pharma Inc. 0.06% 30,225 $1.6M Add +33.0%
LRCX Lam Research Corp. 0.06% 11,625 $1.6M New
RELY Remitly Global Inc. 0.06% 95,325 $1.6M New
ODD Oddity Tech Ltd. Class A 0.06% 24,800 $1.5M New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.06% 96,100 $1.5M New
HUYA Huya Inc.-ADR 0.06% 455,700 $1.5M New
GTLB Gitlab Inc. Class A 0.06% 33,325 $1.5M Add +127.3%
NTRA Natera Inc. 0.06% 9,300 $1.5M Add +111.5%
OUST Ouster Inc. 0.05% 54,250 $1.5M New
CSGP Costar Group Inc. 0.05% 17,050 $1.4M New
S Sentinelone Inc. Class A 0.05% 81,375 $1.4M Add +73.5%
SOUN Soundhound AI Inc. Class A 0.05% 89,125 $1.4M New
AMBA Ambarella Inc. 0.05% 17,050 $1.4M New
HSAI Hesai Group 0.05% 49,600 $1.4M Reduce -20.4%
AMD Advanced Micro Devices 0.05% 8,525 $1.4M Reduce -55.3%
TCOM Trip.com Group Ltd.-ADR 0.05% 17,825 $1.3M New
SGHC Super Group SGHC Ltd. 0.05% 99,200 $1.3M New
NOK Nokia Corp.-Spon ADR 0.05% 266,600 $1.3M New
TME Tencent Music Entertainm-ADR 0.05% 53,475 $1.2M New
EBAY eBay Inc. 0.04% 13,175 $1.2M New
GMED Globus Medical Inc. Class A 0.04% 20,925 $1.2M New
QUBT Quantum Computing Inc. 0.04% 65,100 $1.2M New
UPST Upstart Holdings Inc. 0.04% 23,250 $1.2M Reduce -44.4%
CRSP Crispr Therapeutics AG 0.04% 17,825 $1.2M Reduce -9.9%
PEGA Pegasystems Inc. 0.04% 19,375 $1.1M New
NBIX Neurocrine Biosciences Inc. 0.04% 7,750 $1.1M New
SPOT Spotify Technology SA 0.04% 1,550 $1.1M New
ZBH Zimmer Biomet Holdings Inc. 0.04% 10,850 $1.1M New
PRCT Procept Biorobotics Corp. 0.04% 29,450 $1.1M Add +151.1%
WRD Weride Inc.-ADR 0.04% 106,175 $1.1M New
TOST Toast Inc. Class A 0.04% 28,675 $1.0M New
DKNG Draftkings Inc. Class A 0.04% 27,900 $1.0M Reduce -15.4%
VTEX Vtex Class A 0.04% 225,525 $988K New
JBTM JBT Marel Corp. 0.04% 6,975 $980K New
RUM Rum Group Inc. filed as RUMBLE INC 0.04% 134,075 $971K New
ADI Analog Devices Inc. 0.04% 3,875 $952K New
NFLX Netflix Inc. 0.03% 775 $929K New
SMMNY Siemens Healthinee-Unsp ADR 0.03% 34,100 $923K New
LEGN Legend Biotech Corp.-ADR 0.03% 26,350 $859K New
CSCO Cisco Systems Inc. 0.03% 12,400 $848K New
CRCL Circle Internet Group Inc. 0.03% 6,200 $822K New
ACVA Acv Auctions Inc. Class A 0.03% 81,375 $806K Add +109.5%
ATS Ats Corp. 0.03% 29,450 $772K New
ASML ASML Holding NV-NY Reg SHS 0.03% 775 $750K New
DE Deere & Co. 0.03% 1,550 $709K New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.02% 2,325 $656K New
EMR Emerson Electric Co. 0.02% 4,650 $610K New
SEZL Sezzle Inc. 0.02% 6,974 $555K New

Portfolio Sells Q2 2025 → Q3 2025
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −16.82
SMH Vaneck Semiconductor ETF Reduce -52.7% 5.41% −5.56
IGV iShares Expanded Tech-Softwa Reduce -28.7% 5.07% −2.53
TRIXX State St Inst TR MMKT-Prem Reduce -19.5% 0.71% −0.28
PLTR Palantir Technologies Inc. Class A Reduce -80.9% 0.07% −0.23
HOOD Robinhood Markets Inc. Class A Sold out 0.00% −0.17
META Meta Platforms Inc. Class A Sold out 0.00% −0.13
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −0.12
CIFR Cipher Digital Inc. Sold out 0.00% −0.11
CACI Caci International Inc. Class A Sold out 0.00% −0.10
LMND Lemonade Inc. Sold out 0.00% −0.09
AFRM Affirm Holdings Inc. Sold out 0.00% −0.08
MRVL Marvell Technology Inc. Sold out 0.00% −0.08
SRAD Sportradar Group AG-A Sold out 0.00% −0.08
NTES Netease Inc.-ADR Sold out 0.00% −0.07
HPE Hewlett Packard Enterprise Sold out 0.00% −0.07
UPST Upstart Holdings Inc. Reduce -44.4% 0.04% −0.07
STNE Stoneco Ltd. Class A Sold out 0.00% −0.07
RDDT Reddit Inc. Class A Sold out 0.00% −0.06
IREN Iren Ltd. Sold out 0.00% −0.06
EA Electronic Arts Inc. Sold out 0.00% −0.06
AMD Advanced Micro Devices Reduce -55.3% 0.05% −0.06
IBKR Interactive Brokers Gro Class A Sold out 0.00% −0.06
RIOT Riot Platforms Inc. Sold out 0.00% −0.06
LNWO Light & Wonder Inc. Sold out 0.00% −0.06
RKLB Rocket Lab Corp. Sold out 0.00% −0.06
CHKP Check Point Software Tech Sold out 0.00% −0.05
RSI Rush Street Interactive Inc. Sold out 0.00% −0.05
MCHP Microchip Technology Inc. Sold out 0.00% −0.05
AVGO Broadcom Inc. Reduce -29.5% 0.15% −0.05
PANW Palo Alto Networks Inc. Sold out 0.00% −0.05
FTNT Fortinet Inc. Sold out 0.00% −0.05
QLYS Qualys Inc. Sold out 0.00% −0.05
RBLX Roblox Corp. Class A Reduce -39.0% 0.12% −0.05
SYM Symbotic Inc. Sold out 0.00% −0.05
ACHR Archer Aviation Inc. Class A Sold out 0.00% −0.05
JNPR Juniper Networks Inc. Sold out 0.00% −0.04
ICE Intercontinental Exchange Inc. Sold out 0.00% −0.04
ARM Arm Holdings PLC-ADR Sold out 0.00% −0.04
TLN Talen Energy Corp. Sold out 0.00% −0.04
TXN Texas Instruments Inc. Sold out 0.00% −0.04
BWXT BWX Technologies Inc. Sold out 0.00% −0.04
V Visa Inc. Class A Sold out 0.00% −0.04
CHDN Churchill Downs Inc. Sold out 0.00% −0.04
ANSS Ansys Inc. Sold out 0.00% −0.04
BCRX Biocryst Pharmaceuticals Inc. Sold out 0.00% −0.04
AKAM Akamai Technologies Inc. Sold out 0.00% −0.04
G Genpact Ltd. Sold out 0.00% −0.04
DOCS Doximity Inc. Class A Sold out 0.00% −0.04
DLR Digital Realty Trust Inc. Sold out 0.00% −0.04

Portfolio Buys Q2 2025 → Q3 2025
XLK SS Technology Select Sector Add +197.9% 28.02% +18.54
XLV SS Health Care Select Sector Add +59.1% 11.92% +3.78
XLY SS Consumer Disc Select Sect Add +16.3% 8.11% +1.01
ITB iShares U.S. Home Constructi Add +61.0% 2.49% +0.98
NBIS Nebius Group NV New 0.19% +0.19
XLF SS Financial Select Sector Add +10.6% 11.63% +0.16
ORCL Oracle Corp. Add +104.8% 0.25% +0.14
NET Cloudflare Inc. Class A Add +67.9% 0.33% +0.13
AVAV Aerovironment Inc. New 0.11% +0.11
FUBO Fubotv Inc. New 0.11% +0.11
XPEV Xpeng Inc. - ADR New 0.10% +0.10
SOFI Sofi Technologies Inc. New 0.09% +0.09
GLXY Galaxy Digital Inc. Class A New 0.09% +0.09
CRWV Coreweave Inc. Class A New 0.09% +0.09
KWEB Kranesh Csi China Internet Add +7.6% 0.58% +0.09
SAIL Sailpoint Inc. New 0.08% +0.08
ALAB Astera Labs Inc. Add +26.9% 0.13% +0.08
TEM Tempus AI Inc. Class A New 0.08% +0.08
CRWD CrowdStrike Holdings Inc. Class A Add +164.3% 0.14% +0.08
PGY Pagaya Technologies Ltd. Class A New 0.08% +0.08
CRDO Credo Technology Group Holdi Add +91.6% 0.12% +0.08
CVNA Carvana Co. New 0.08% +0.08
RBRK Rubrik Inc. Class A Add +106.2% 0.18% +0.07
INSM Insmed Inc. New 0.07% +0.07
RGTI Rigetti Computing Inc. New 0.07% +0.07
MELI MercadoLibre Inc. New 0.07% +0.07
COHR Coherent Corp. New 0.06% +0.06
MARA Mara Holdings Inc. New 0.06% +0.06
PODD Insulet Corp. New 0.06% +0.06
WGS Genedx Holdings Corp. New 0.06% +0.06
ZS Zscaler Inc. Add +111.4% 0.14% +0.06
JD Jd.com Inc.-ADR New 0.06% +0.06
VEEV Veeva Systems Inc. Class A New 0.06% +0.06
INTU Intuit Inc. New 0.06% +0.06
FLUT Flutter Entertainment PLC-Di New 0.06% +0.06
LRCX Lam Research Corp. New 0.06% +0.06
RELY Remitly Global Inc. New 0.06% +0.06
ODD Oddity Tech Ltd. Class A New 0.06% +0.06
NU Nu Holdings Ltd./Cayman Isl-A New 0.06% +0.06
SE Sea Ltd.-ADR Add +56.1% 0.16% +0.06
HUYA Huya Inc.-ADR New 0.06% +0.06
OUST Ouster Inc. New 0.05% +0.05
CSGP Costar Group Inc. New 0.05% +0.05
SOUN Soundhound AI Inc. Class A New 0.05% +0.05
AMBA Ambarella Inc. New 0.05% +0.05
SPEM State Street SP PTF Em ETF Add +17.9% 0.40% +0.05
ARGX Argenx SE - ADR Add +111.5% 0.08% +0.05
TCOM Trip.com Group Ltd.-ADR New 0.05% +0.05
SGHC Super Group SGHC Ltd. New 0.05% +0.05
NOK Nokia Corp.-Spon ADR New 0.05% +0.05

Notes & Other Activity Q2 2025 → Q3 2025
GENVR Gen Digital Inc. - CVR RIGHT 99/99/9999 Sold out 9,529 $78Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 103$3.3BXLK, XLF, XLI, XLY, QQQM
Q1 2026 115$2.7BXLK, XLV, XLC, XLF, XLY
Q4 2025 124$2.8BXLK, XLV, XLF, XLC, XLY
Q3 2025 122$2.7BXLK, XLC, XLV, XLF, XLY
Q2 2025 136$2.4BQQQ, XLC, XLF, SMH, XLK
Q1 2025 138$2.1BIJR, QQQ, KRE, IJK, XLC
Q4 2024 147$2.2BQQQ, XLC, SMH, IJK, XLK
Q3 2024 150$2.1BQQQ, IJK, XLC, SMH, XLK
Q2 2024 39$2.0BQQQ, IJK, XLC, XLK, SMH
Q1 2024 41$1.9BIJK, XLC, QQQ, XLK, SMH