Managers / Q1 2025 · view latest →
Michelson Medical Research Foundation, Inc.
CIK 0001965304 · 11755 WILSHIRE BLVD., SUITE 1400, LOS ANGELES, CA, 90025 · (310) 806-9700
Summary
Michelson Medical Research Foundation, Inc. reported $120M in U.S.-listed holdings across 25 positions for Q1 2025.
The portfolio is heavily concentrated: IJS alone accounts for 33.9% of reported value.
Compared with Q4 2024, the fund opened 2 new positions and exited 5.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ETP · 69.4% · $83M
- Common Stock · 15.4% · $18M
- ADR · 9.6% · $11M
- REIT · 2.6% · $3M
- Other · 2.2% · $3M
- Closed-End Fund · 0.8% · $962,317
Quarter-over-Quarter Changes full breakdown →
vs Q4 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| IJSISHARES TR | NEW | +130.0K | 130.0K | +$13M | $13M |
| MANCHESTER UTD PLC NEW | NEW | +200.0K | 200.0K | +$3M | $3M |
| RTORENTOKIL INITIAL PLC | ADDED | +320.0K | 500.0K | +$7M | $11M |
| ELLAUDER ESTEE COS INC | SOLD OUT | −80.0K | 0 | −$6M | $0 |
| AREALEXANDRIA REAL ESTATE EQ IN | SOLD OUT | −37.2K | 0 | −$4M | $0 |
| SUISUN CMNTYS INC | SOLD OUT | −20.0K | 0 | −$2M | $0 |
| BXPBXP INC | SOLD OUT | −21.7K | 0 | −$2M | $0 |
| AVBAVALONBAY CMNTYS INC | SOLD OUT | −1.9K | 0 | −$428,282 | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | IJSISHARES TR | SP SMCP600VL ETF · S&P 500 VAL ETF · CORE S&P500 ETF · ISHARES BIOTECH · MICRO-CAP ETF | 33.86% | $40M | 275.7K |
| 2 | MTNVAIL RESORTS INChistory → | COM | 11.52% | $14M | 86.0K |
| 3 | RTORENTOKIL INITIAL PLChistory → | SPONSORED ADR | 9.58% | $11M | 500.0K |
| 4 | GDXVANECK ETF TRUSThistory → | GOLD MINERS ETF | 9.01% | $11M | 234.3K |
| 5 | VEAVANGUARD TAX-MANAGED FDShistory → | VAN FTSE DEV MKT | 6.73% | $8M | 158.2K |
| 6 | EWWISHARES INC | MSCI MEXICO ETF · MSCI BRAZIL ETF · MSCI JPN ETF NEW · MSCI TAIWAN ETF · MSCI STH KOR ETF | 6.70% | $8M | 190.8K |
| 7 | KRESPDR SER TR | S&P REGL BKG · S&P BIOTECH | 4.98% | $6M | 96.4K |
| 8 | VWOVANGUARD INTL EQUITY INDEX Fhistory → | FTSE EMR MKT ETF | 4.83% | $6M | 127.6K |
| 9 | PLDPROLOGIS INC.history → | COM | 2.63% | $3M | 28.1K |
| 10 | MANCHESTER UTD PLC NEW | ORD CL A | 2.19% | $3M | 200.0K |
| 11 | VBVANGUARD INDEX FDShistory → | SMALL CP ETF | 2.04% | $2M | 11.0K |
| 12 | BURBURFORD CAP LTDhistory → | ORD SHS | 1.99% | $2M | 180.0K |
| 13 | CRGYCRESCENT ENERGY COMPANYhistory → | CL A COM | 1.47% | $2M | 156.2K |
| 14 | GXCSPDR INDEX SHS FDShistory → | S&P CHINA ETF | 1.21% | $1M | 16.8K |
| 15 | NMLNEUBERGER BERMAN ENERGY INFR | COM | 0.81% | $962,317 | 115.9K |
| 16 | CMPCOMPASS MINERALS INTL INC | COM | 0.47% | $557,400 | 600.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $99M | 21 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $100M | 20 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $115M | 20 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $104M | 20 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $120M | 25 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $119M | 28 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $142M | 28 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $116M | 25 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $165M | 28 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $152M | 28 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $148M | 27 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $141M | 20 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $128M | 21 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $154M | 31 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.