# Michelson Medical Research Foundation, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1965304. Source: https://holderbook.com/funds/1965304-michelson-medical-research-foundation-inc/

- Reported value: $108.2M
- Positions: 21
- Weight of the ten largest: 72.1%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $11.8M | 51,905 | 10.9% | 15 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $11.3M | 158,160 | 10.4% | 15 |
| BUILDERS FIRSTSOURCE INC | [BLDR](https://holderbook.com/stocks/BLDR/) | $8.7M | 97,000 | 8.0% | 1 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $8.6M | 39,000 | 8.0% | 1 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $7.6M | 127,630 | 7.0% | 15 |
| ISHARES TR | [IWC](https://holderbook.com/stocks/IWC/) | $7.1M | 35,385 | 6.5% | 12 |
| CANNAE HLDGS INC | [CNNE](https://holderbook.com/stocks/CNNE/) | $6.9M | 480,600 | 6.4% | 2 |
| ISHARES TR | [IBB](https://holderbook.com/stocks/IBB/) | $6.7M | 35,095 | 6.2% | 15 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $4.8M | 63,510 | 4.4% | 12 |
| SAFEHOLD INC | [SAFE](https://holderbook.com/stocks/SAFE/) | $4.7M | 297,477 | 4.3% | 5 |
| MANCHESTER UTD PLC NEW | [MANU](https://holderbook.com/stocks/MANU/) | $4.6M | 200,000 | 4.2% | 6 |
| ISHARES INC | [EWY](https://holderbook.com/stocks/EWY/) | $4.1M | 20,155 | 3.8% | 12 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $3.3M | 11,010 | 3.1% | 12 |
| ISHARES INC | [EWW](https://holderbook.com/stocks/EWW/) | $3.2M | 41,850 | 2.9% | 12 |
| ISHARES INC | [EWT](https://holderbook.com/stocks/EWT/) | $3.0M | 27,435 | 2.8% | 12 |
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $2.8M | 81,300 | 2.6% | 12 |
| ATLANTA BRAVES HLDGS INC | [BATRK](https://holderbook.com/stocks/BATRK/) | $2.3M | 45,130 | 2.2% | 2 |
| OAKTREE SPECIALTY LENDING | [OCSL](https://holderbook.com/stocks/OCSL/) | $2.0M | 170,100 | 1.9% | 2 |
| ISHARES INC | [EWJ](https://holderbook.com/stocks/EWJ/) | $1.9M | 20,100 | 1.7% | 12 |
| CRESCENT ENERGY COMPANY | [CRGY](https://holderbook.com/stocks/CRGY/) | $1.5M | 156,166 | 1.4% | 15 |
| SPDR INDEX SHS FDS | [GXC](https://holderbook.com/stocks/GXC/) | $1.4M | 16,750 | 1.3% | 11 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +16.9% | +14.8% | +2.0% | 100% |
| Q1 2026 | +1.1% | -4.6% | +5.8% | 100% |
| Q4 2025 | +4.1% | +2.4% | +1.8% | 100% |
| Q3 2025 | +10.2% | +7.8% | +2.4% | 100% |
| Q2 2025 | +6.3% | +10.5% | -4.1% | 100% |
| Q1 2025 | -2.7% | -4.6% | +1.9% | 100% |
| Q4 2024 | -4.9% | +2.1% | -7.1% | 100% |
| Q3 2024 | +8.6% | +5.4% | +3.2% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $108.2M | 21 |
| Q1 2026 | $98.5M | 21 |
| Q4 2025 | $99.8M | 20 |
| Q3 2025 | $115.0M | 20 |
| Q2 2025 | $104.2M | 20 |
| Q1 2025 | $119.5M | 25 |
| Q4 2024 | $119.3M | 28 |
| Q3 2024 | $141.9M | 28 |
| Q2 2024 | $116.3M | 25 |
| Q1 2024 | $165.0M | 28 |
| Q4 2023 | $151.6M | 28 |
| Q3 2023 | $148.1M | 27 |