Main Management LLC

Q4 2025 13F-HR Holdings

Location
San Francisco, CA
Holdings as of
12/31/2025
Date filed
2/10/2026
Form type
13F-HR
Num holdings
104
Total value ($000)
$1,389,622
Net value change ($000)
+24,588 (1.8%)
New positions
5
Sold out positions
6
Turnover %
3.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
XLF 35,727 46.8%
XLV 32,772 41.6%
XLB 17,452 NEW
XLE 15,425 NEW
BUYW 6,619 6.1%
XLK 5,011 5.5%
VHT 2,959 18.2%
INTL 2,851 2.8%
RSP 2,002 5.9%
VXUS 1,941 16.3%
Top Reduces (Value $000, Stocks/ETFs)
SMH -47,696 -88.4%
IGV -27,557 -74.9%
XLU -15,061 -100.0%
XLY -8,552 -12.4%
TMAT -6,119 -7.7%
SUTXX -1,329 -9.6%
SOXX -1,136 -84.1%
OIH -1,042 -26.1%
SPY -971 -0.6%
XLC -756 -0.7%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type