Main Management Fund Advisors LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Main Management Fund Advisors LLC reported 8 stock positions worth $1.0 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 36.5% of the portfolio, followed by BNY Mellon US LRG Cap Cor (BKLC, 12.4%) and SS Comm Select Sector SPDR (XLC, 9.6%). Compared with Q2 2025, it opened 2 new positions, added to 3 and reduced 3. The biggest buy was a new position in BNY Mellon US LRG Cap Cor (BKLC) and the biggest sale iShares Core S&P 500 ETF (IVV, shares −14%).

Most Recent 13F
Q2 2026
Location
SAN FRANCISCO, CA
CIK
0001862787
Portfolio Value
$1.0B (Q3 2025)
SEC Filing
0001862787-25-000005 ↗ filed Nov 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $491.9M Q1 2024 Q2 2024: $555.1M Q2 2024 Q3 2024: $583.2M Q3 2024 Q4 2024: $655.0M Q4 2024 Q1 2025: $682.3M Q1 2025 Q2 2025: $838.6M Q2 2025 Q3 2025: $1.0B $1.0B Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.4B Q2 2026

Holdings 8 stocks · $1.0B
IVV iShares Core S&P 500 ETF 36.55% 563,400 $377.1M Reduce -14.4%
BKLC BNY Mellon US LRG Cap Cor 12.42% 997,910 $128.1M New
XLC SS Comm Select Sector SPDR 9.58% 835,500 $98.9M Add +13.0%
SMH Vaneck Semiconductor ETF 8.88% 280,900 $91.7M Reduce -30.3%
XLU St Sr Utl SL SE SPDR ETF-Usd 8.69% 1,028,300 $89.7M Add +11.0%
XLY SS Consumer Disc Select Sect 8.65% 372,600 $89.3M Add +18.1%
QQQM Invesco Nasdaq 100 ETF 8.21% 342,800 $84.7M Reduce -16.6%
XLV SS Health Care Select Sector 7.01% 520,000 $72.4M New

Portfolio Sells Q2 2025 → Q3 2025
IVV iShares Core S&P 500 ETF Reduce -14.4% 36.55% −12.16
SMH Vaneck Semiconductor ETF Reduce -30.3% 8.88% −4.52
QQQM Invesco Nasdaq 100 ETF Reduce -16.6% 8.21% −2.91

Portfolio Buys Q2 2025 → Q3 2025
BKLC BNY Mellon US LRG Cap Cor New 12.42% +12.42
XLV SS Health Care Select Sector New 7.01% +7.01
XLY SS Consumer Disc Select Sect Add +18.1% 8.65% +0.48
XLC SS Comm Select Sector SPDR Add +13.0% 9.58% +0.02
XLU St Sr Utl SL SE SPDR ETF-Usd Add +11.0% 8.69% −0.33

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 8$1.4BSPYM, IVV, QQQM, XLE, XLU
Q1 2026 6$1.2BIVV, BKLC, STIP, QQQM, XLC
Q4 2025 7$1.1BIVV, BKLC, XLF, XLC, QQQM
Q3 2025 8$1.0BIVV, BKLC, XLC, SMH, XLU
Q2 2025 6$838.6MIVV, SMH, QQQM, XLC, XLU
Q1 2025 6$682.3MIVV, SMH, QQQM, XLU, XLC
Q4 2024 6$655.0MSPY, SMH, QQQM, XLC, XLY
Q3 2024 5$583.2MSPY, SMH, XLC, XLU, QQQM
Q2 2024 6$555.1MSPY, SMH, XLC, XBI, XLU
Q1 2024 6$491.9MSPY, SMH, XBI, XLC, XLU