Managers / Q3 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 $115M in U.S.-listed holdings across 20 positions for Q3 2025.
The portfolio is heavily concentrated: SGOV alone accounts for 28.5% of reported value.
Compared with Q2 2025, the fund opened 1 new position and exited 1.
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 · 74.8% · $86M
- Common Stock · 18.6% · $21M
- REIT · 4.0% · $5M
- Other · 2.6% · $3M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SGOVISHARES TR | NEW | +116.2K | 116.2K | +$12M | $12M |
| RTORENTOKIL INITIAL PLC | SOLD OUT | −457.8K | 0 | −$11M | $0 |
| GDXVANECK ETF TRUST | HELD | +0 | 234.3K | +$6M | $18M |
| DBRGDIGITALBRIDGE GROUP INC | HELD | +0 | 609.5K | +$822,825 | $7M |
| IWCISHARES TR | HELD | +0 | 35.4K | +$758,301 | $5M |
| MTNVAIL RESORTS INC | HELD | +0 | 86.0K | −$650,160 | $13M |
| IBBISHARES TR | HELD | +0 | 35.1K | +$626,797 | $5M |
| VWOVANGUARD INTL EQUITY INDEX F | HELD | +0 | 127.6K | +$602,413 | $7M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SGOVISHARES TR | 0-3 MNTH TREASRY · S&P 500 VAL ETF · MICRO-CAP ETF · ISHARES BIOTECH | 28.49% | $33M | 238.6K |
| 2 | GDXVANECK ETF TRUSThistory → | GOLD MINERS ETF | 15.57% | $18M | 234.3K |
| 3 | MTNVAIL RESORTS INChistory → | COM | 11.18% | $13M | 86.0K |
| 4 | EWWISHARES INC | MSCI MEXICO ETF · MSCI BRAZIL ETF · MSCI TAIWAN ETF · MSCI STH KOR ETF · MSCI JPN ETF NEW | 9.00% | $10M | 190.8K |
| 5 | VEAVANGUARD TAX-MANAGED FDShistory → | VAN FTSE DEV MKT | 8.24% | $9M | 158.2K |
| 6 | DBRGDIGITALBRIDGE GROUP INChistory → | CL A NEW | 6.20% | $7M | 609.5K |
| 7 | VWOVANGUARD INTL EQUITY INDEX Fhistory → | FTSE EMR MKT ETF | 6.01% | $7M | 127.6K |
| 8 | SAFESAFEHOLD INChistory → | COM | 4.01% | $5M | 297.5K |
| 9 | KRESPDR SERIES TRUSThistory → | S&P REGL BKG | 3.50% | $4M | 63.5K |
| 10 | MANCHESTER UTD PLC NEW | ORD CL A | 2.63% | $3M | 200.0K |
| 11 | VBVANGUARD INDEX FDShistory → | SMALL CP ETF | 2.43% | $3M | 11.0K |
| 12 | GXCSPDR INDEX SHS FDShistory → | S&P CHINA ETF | 1.53% | $2M | 16.8K |
| 13 | CRGYCRESCENT ENERGY COMPANYhistory → | CL A COM | 1.21% | $1M | 156.2K |
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 ↗.