Main Management LLC

Main Management LLC is a wealth-management firm allocating client money, specialised in financials (100% of the long book), running a $1.37B US long book across 102 positions.

The portfolio is concentrated: the top 10 names carry 69% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: SS SPDR S&P 500 ETF TRUST-US, MAIN BUYWRITE ETF, SS TECHNOLOGY SELECT SECTOR, MAIN INTERNATIONAL ETF, SS FINANCIAL SELECT SECTOR.

Over the last 9 quarters its long book ran on average 0.6pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.