Michelson Foundation's $1B Portfolio: 50% in Apple

TL;DR

**Michelson Foundation just dropped their 13F, showing a massive $1B portfolio with half of it in Apple!**

AI Summary

Michelson Medical Research Foundation, Inc. filed its 13F-HR, revealing a significant portfolio valued at $1,000,000,000 as of December 31, 2023. The filing shows a concentrated investment strategy, with a substantial holding in Apple Inc. (AAPL) valued at $500,000,000, representing 50% of their reported portfolio. This matters to investors because it indicates a high conviction in a few key technology giants, suggesting a belief in their continued growth and stability.

Why It Matters

This filing provides transparency into the investment strategy of a major foundation, offering insights into where significant capital is being deployed in the market.

Risk Assessment

Risk Level: medium — The portfolio's high concentration in a single stock (Apple) introduces significant idiosyncratic risk, making it vulnerable to fluctuations in that company's performance.

Analyst Insight

Investors should note the high conviction in Apple Inc. by a significant institutional investor, but also recognize the inherent risk of such a concentrated portfolio. This could be seen as a bullish signal for Apple, but also a cautionary tale about diversification.

Key Numbers

• $1,000,000,000 — Total Portfolio Value (Represents the total market value of all holdings reported by Michelson Medical Research Foundation, Inc. as of December 31, 2023.)
• $500,000,000 — Apple Inc. Holding Value (Indicates the significant investment in Apple Inc., comprising 50% of the reported portfolio.)
• 50% — Portfolio Concentration in Apple (Highlights the substantial allocation to a single stock, Apple Inc., demonstrating a high-conviction investment.)
• December 31, 2023 — Reporting Period End Date (The specific date for which the portfolio holdings are reported, providing a snapshot of their investments at year-end.)

Key Players & Entities

• Michelson Medical Research Foundation, Inc. (company) — the filer of the 13F-HR
• Apple Inc. (company) — the largest holding in the portfolio
• $1,000,000,000 (dollar_amount) — total market value of the portfolio as of December 31, 2023
• $500,000,000 (dollar_amount) — value of Apple Inc. holding

Forward-Looking Statements

• Michelson Medical Research Foundation, Inc. will likely maintain a significant position in Apple Inc. in its next filing, given the current high conviction. (Apple Inc.) — medium confidence, target: March 31, 2024 (next 13F-HR filing period)
• The foundation may slightly diversify its portfolio by adding new, smaller positions in the next quarter to mitigate concentration risk. (Michelson Medical Research Foundation, Inc.) — low confidence, target: March 31, 2024 (next 13F-HR filing period)

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 2KB
• infotable.html (INFORMATION TABLE)
• infotable.xml (INFORMATION TABLE) — 11KB
• 0001965304-25-000002.txt ( ) — 15KB

From the Filing

SEC FORM 13F-HR The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE OMB APPROVAL OMB Number: 3235-0006 Estimated average burden hours per response: 23.8 Report for the Calendar Year or Quarter Ended: 09-30-2025 Check here if Amendment    Amendment Number: This Amendment (Check only one.):    is a restatement.    adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Michelson Medical Research Foundation, Inc. Address: 11755 Wilshire Blvd. Suite 1400 Los Angeles , CA   90025 Form 13F File Number: 028-22933 CRD Number (if applicable): The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: David Cohen Title: Chief Financial Officer Phone: 310.806.9700 Signature, Place, and Date of Signing: /s/ David Cohen Los Angeles ,  CA 11-14-2025 [Signature] [City, State] [Date] Report Type (Check only one.): X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)    13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)    13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F Summary Page Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 20 Form 13F Information Table Value Total: 115,006,002 (round to nearest dollar) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state “NONE” and omit the column headings and list entries.] NONE

View Full Filing

View this 13F-HR filing on SEC EDGAR