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MMRF
Michelson Medical Research Foundation Portfolio holdings
AUM
$108M
1-Year Est. Return
29.95%
This Fund
S&P 500
This Quarter
Est. Return
+2.88%
1 Year Est. Return
+29.95%
3 Year Est. Return
+52.22%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$99.8M
AUM Growth
-$15.2M
(-13%)
Cap. Flow
-$17.3M
Cap. Flow
% of AUM
-17.35%
Top 10 Holdings %
Top 10 Hldgs %
78.3%
Holding
22
New
2
Increased
–
Reduced
–
Closed
2
Avg Time Held
7.6
quarters
Top 10 Avg Time Held
5.4
quarters
Top 20 Avg Time Held
5.6
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
UnitedHealth
UNH
|
+$10.2M |
| 2 |
Sturm, Ruger & Co
RGR
|
+$2.13M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Gold Miners ETF
GDX
|
+$17.9M |
| 2 |
iShares 0-3 Month Treasury Bond ETF
SGOV
|
+$11.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 58.78% |
| 2 | Consumer Discretionary | 11.45% |
| 3 | Healthcare | 9.93% |
| 4 | Financials | 9.37% |
| 5 | Real Estate | 4.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Vail Resorts
MTN
$5.03B
| $11.4M | 11.45% |
86,000
| – | – |
2024 Q3
5 quarters
|
|
2
iShares S&P 500 Value ETF
IVE
$48.6B
| $11M | 11.03% |
51,905
| – | – |
2022 Q4
12 quarters
|
|
|
3
UnitedHealth
UNH
$334B
| $9.9M | 9.93% |
+30,000
| New | +$10.2M |
2025 Q4
0 quarters
|
|
4
Vanguard FTSE Developed Markets ETF
VEA
$232B
| $9.88M | 9.9% |
158,160
| – | – |
2022 Q4
12 quarters
|
|
|
DBRG
5
DELISTED
DigitalBridge
DBRG
| $9.35M | 9.37% |
609,500
| – | – |
2025 Q2
2 quarters
|
|
6
Vanguard FTSE Emerging Markets ETF
VWO
$125B
| $6.86M | 6.88% |
127,630
| – | – |
2022 Q4
12 quarters
|
|
7
iShares Biotechnology ETF
IBB
$10.5B
| $5.92M | 5.94% |
35,095
| – | – |
2022 Q4
12 quarters
|
|
8
iShares Micro-Cap ETF
IWC
$1.4B
| $5.58M | 5.59% |
35,385
| – | – |
2023 Q3
9 quarters
|
|
9
State Street SPDR S&P Regional Banking ETF
KRE
$3.61B
| $4.12M | 4.13% |
63,510
| – | – |
2023 Q3
9 quarters
|
|
|
SAFE
10
Safehold
SAFE
$854M
| $4.07M | 4.08% |
297,477
| – | – |
2025 Q2
2 quarters
|
|
11
Manchester United
MANU
$3.46B
| $3.18M | 3.19% |
200,000
| – | – |
2025 Q1
3 quarters
|
|
12
iShares MSCI Mexico ETF
EWW
$1.52B
| $2.9M | 2.91% |
41,850
| – | – |
2023 Q3
9 quarters
|
|
13
Vanguard Morningstar Small-Cap ETF
VB
$78B
| $2.84M | 2.85% |
11,010
| – | – |
2023 Q3
9 quarters
|
|
14
iShares MSCI Brazil ETF
EWZ
$8.88B
| $2.58M | 2.59% |
81,300
| – | – |
2023 Q3
9 quarters
|
|
15
iShares MSCI South Korea ETF
EWY
$27.5B
| $1.96M | 1.96% |
20,155
| – | – |
2023 Q3
9 quarters
|
|
|
16
Sturm, Ruger & Co
RGR
$709M
| $1.88M | 1.88% |
+57,500
| New | +$2.13M |
2025 Q4
0 quarters
|
|
17
iShares MSCI Taiwan ETF
EWT
$12.7B
| $1.74M | 1.75% |
27,435
| – | – |
2023 Q3
9 quarters
|
|
18
iShares MSCI Japan ETF
EWJ
$23.6B
| $1.62M | 1.63% |
20,100
| – | – |
2023 Q3
9 quarters
|
|
19
State Street SPDR S&P China ETF
GXC
$448M
| $1.62M | 1.63% |
16,750
| – | – |
2023 Q4
8 quarters
|
|
20
Crescent Energy
CRGY
$4.42B
| $1.31M | 1.31% |
156,166
| – | – |
2022 Q4
12 quarters
|
|
|
21
VanEck Gold Miners ETF
GDX
$26.1B
| – | – |
-234,305
| Closed | -$17.9M | – |
|
|
22
iShares 0-3 Month Treasury Bond ETF
SGOV
$111B
| – | – |
-116,226
| Closed | -$11.7M | – |
|
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Michelson Medical Research Foundation's Q4 2025 Portfolio in Review
As of Q4 2025, Michelson Medical Research Foundation held 22 positions worth $99.8M, down 13% from $115M the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Michelson Medical Research Foundation withdrew a net $17.3M in Q4 2025, closing 2 positions. Its most notable exit was VanEck Gold Miners ETF, an estimated $17.9M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 59% of assets, down from 75% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Michelson Medical Research Foundation opened a new position in UnitedHealth worth $9.9M.
- Michelson Medical Research Foundation's largest Q4 2025 buy was UnitedHealth: 30,000 shares worth $9.9M.
- Michelson Medical Research Foundation fully exited VanEck Gold Miners ETF in Q4 2025, selling an estimated $17.9M.
- Michelson Medical Research Foundation's ten largest holdings make up 78% of its $99.8M portfolio in Q4 2025.
- Michelson Medical Research Foundation opened 2 new positions and closed 2 in Q4 2025.
- Michelson Medical Research Foundation's portfolio value fell 13% quarter-over-quarter to $99.8M.
Based on Michelson Medical Research Foundation's 13F filing for Q4 2025, filed 17 Feb 2026.