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Livermore
Livermore
ZHEN

Main Management Fund Advisors LLC

SEC CIK
0001862787
Latest filing
Aug 14, 2026

The latest 13F from Main Management Fund Advisors LLC covers Q2 2026 (filed Aug 14, 2026): 8 long positions worth $1.41B. The top 10 holdings make up 100.0% of the portfolio, and the largest is State Street SPDR Portfolio S&P 500 ETF at 36.8%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
4
Est. +$905.1M
Added
1
Est. +$110.0M
Reduced
3
Est. −$819.4M
Sold out
2
Est. −$359.3M

Top 5 holdings

Share of this quarter's portfolio value

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    36.8%$519.8M
  2. iShares Core S&P 500 ETF464287200
    13.2%$187.3M
  3. Invesco Nasdaq 100 ETF46138G649
    10.9%$154.1M
  4. State Street Energy Select Sector SPDR ETF81369Y506
    10.5%$148.9M
  5. State Street Utilities Select Sector SPDR ETF81369Y886
    9.4%$132.8M

Biggest buys

New and added positions, by estimated amount bought

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$519.8MNew
  2. State Street Utilities Select Sector SPDR ETF81369Y886
    +$132.8MNew
  3. State Street Financial Select Sector SPDR ETF81369Y605
    +$131.7MNew
  4. State Street Health Care Select Sector SPDR ETF81369Y209
    +$120.8MNew
  5. State Street Energy Select Sector SPDR ETF81369Y506
    +$110.0MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +36.76 pp0.0% → 36.8%
  2. State Street Utilities Select Sector SPDR ETF81369Y886
    +9.39 pp0.0% → 9.4%
  3. State Street Financial Select Sector SPDR ETF81369Y605
    +9.31 pp0.0% → 9.3%
  4. State Street Health Care Select Sector SPDR ETF81369Y209
    +8.54 pp0.0% → 8.5%
  5. State Street Energy Select Sector SPDR ETF81369Y506
    +1.52 pp9.0% → 10.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Core S&P 500 ETF464287200
    −$418.0MReduced
  2. BNY Mellon ETF Trust09661T107
    −$251.6MSold out
  3. iShares Tr46429B747
    −$234.6MReduced
  4. Invesco Nasdaq 100 ETF46138G649
    −$166.8MReduced
  5. State Street Communication Services Select Sector SPDR ETF81369Y852
    −$107.7MSold out

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. iShares Core S&P 500 ETF464287200
    −24.95 pp38.2% → 13.2%
  2. BNY Mellon ETF Trust09661T107
    −21.13 pp21.1% → 0.0%
  3. iShares Tr46429B747
    −11.43 pp12.8% → 1.3%
  4. State Street Communication Services Select Sector SPDR ETF81369Y852
    −9.04 pp9.0% → 0.0%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.41B
+$223.5M (+18.8%) vs. prior quarter
Positions
8
+2 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
77.9%
Q2 2026, one quarter
Average holding period
2.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.41B (Q2 2026)

Q1 2021: $114.4MQ2 2021: $126.8MQ3 2021: $129.5MQ4 2021: $121.1MQ1 2022: $135.6MQ2 2022: $141.5MQ3 2022: $139.3MQ4 2022: $158.6MQ1 2023: $229.4MQ2 2023: $310.4MQ3 2023: $343.9MQ4 2023: $357.0MQ1 2024: $491.9MQ2 2024: $555.1MQ3 2024: $583.2MQ4 2024: $655.0MQ1 2025: $682.3MQ2 2025: $838.6MQ3 2025: $1.03BQ4 2025: $1.10BQ1 2026: $1.19BQ2 2026: $1.41B
Q1 2021Q2 2026
13F filings of Main Management Fund Advisors LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 20268$1.41BState Street SPDR Portfolio S&P 500 ETFiShares Core S&P 500 ETFInvesco Nasdaq 100 ETFvs. Q1 2026SEC
Q1 2026May 15, 20266$1.19BiShares Core S&P 500 ETFBNY Mellon ETF TrustiShares Trvs. Q4 2025SEC
Q4 2025Feb 10, 20267$1.10BiShares Core S&P 500 ETFBNY Mellon ETF TrustState Street Financial Select Sector SPDR ETFvs. Q3 2025SEC
Q3 2025Nov 14, 20258$1.03BiShares Core S&P 500 ETFBNY Mellon ETF TrustState Street Communication Services Select Sector SPDR ETFvs. Q2 2025SEC
Q2 2025Aug 12, 20256$838.6MiShares Core S&P 500 ETFVanEck Semiconductor ETFInvesco Nasdaq 100 ETFvs. Q1 2025SEC
Q1 2025May 15, 20256$682.3MiShares Core S&P 500 ETFVanEck Semiconductor ETFInvesco Nasdaq 100 ETFvs. Q4 2024SEC
Q4 2024Feb 14, 20256$655.0MSPYVanEck Semiconductor ETFInvesco Nasdaq 100 ETFvs. Q3 2024SEC
Q3 2024Nov 15, 20245$583.2MSPYVanEck Semiconductor ETFState Street Communication Services Select Sector SPDR ETFvs. Q2 2024SEC
Q2 2024Aug 15, 20246$555.1MSPYVanEck Semiconductor ETFState Street Communication Services Select Sector SPDR ETFvs. Q1 2024SEC
Q1 2024May 14, 20246$491.9MSPYVanEck Semiconductor ETFState Street SPDR S&P Biotech ETFvs. Q4 2023SEC
Q4 2023Feb 15, 20246$357.0MSPYState Street SPDR S&P Biotech ETFState Street SPDR S&P Regional Banking ETFvs. Q3 2023SEC
Q3 2023Nov 14, 20238$343.9MSPYInvesco QQQ Trust Series IVanEck Semiconductor ETFvs. Q2 2023SEC
Q2 2023Aug 14, 20238$310.4MSPYInvesco QQQ Trust Series IVanEck Semiconductor ETFvs. Q1 2023SEC
Q1 2023May 12, 20238$229.4MSPYInvesco QQQ Trust Series IVanEck Semiconductor ETFvs. Q4 2022SEC
Q4 2022Feb 14, 20238$158.6MSPYState Street Consumer Discretionary Select Sector SPDR ETFVanEck Semiconductor ETFvs. Q3 2022SEC
Q3 2022Nov 14, 20228$139.3MSPYState Street Consumer Staples Select Sector SPDR ETFInvesco QQQ Trust Series Ivs. Q2 2022SEC
Q2 2022Aug 11, 20228$141.5MSPYState Street Consumer Staples Select Sector SPDR ETFiShares Core S&P Small Cap ETFvs. Q1 2022SEC
Q1 2022May 10, 20227$135.6MInvesco QQQ Trust Series ISPYiShares Trvs. Q4 2021SEC
Q4 2021Feb 15, 20226$121.1MInvesco QQQ Trust Series ISPYiShares Trvs. Q3 2021SEC
Q3 2021Nov 12, 20217$129.5MSPYInvesco QQQ Trust Series IiShares Russell 2000 ETFvs. Q2 2021SEC
Q2 2021Aug 12, 20216$126.8MSPYInvesco QQQ Trust Series IiShares Russell 2000 ETFvs. Q1 2021SEC
Q1 2021May 17, 20216$114.4MSPYiShares Russell 2000 ETFiShares Tr–SEC