SMLR gains Morgan Stanley as 5.8% passive shareholder

Rhea-AI Filing Summary

Morgan Stanley and its subsidiary Morgan Stanley Investment Management Inc. have filed a Schedule 13G reporting a new passive position in Semler Scientific, Inc. (SMLR).

As of 30 Jun 2025 the firms collectively own 790,603 common shares, equal to 5.8 % of the outstanding equity. Morgan Stanley discloses 790,437 shares with shared voting power and 789,925 shares with shared dispositive power, while MSIM lists 788,492 shares under both shared voting and dispositive authority. Neither entity holds sole voting or dispositive rights.

The Schedule 13G is filed under Rule 13d-1(b), indicating the stake is held in the ordinary course of business and is not intended to influence control. A joint filing agreement (Exhibit 99.1) and subsidiary identification (Exhibit 99.2) are included. Signatures were provided on 07 Aug 2025.

Positive

• Morgan Stanley’s 5.8 % ownership introduces a reputable institutional holder, potentially improving liquidity and market visibility for SMLR.

Negative

• None.

Insights

Financial Analyst

TL;DR: 5.8% passive stake by Morgan Stanley boosts institutional ownership, modestly positive for liquidity and visibility.

Institutional investors often regard a Schedule 13G from a global bank as a signal of confidence, especially for a small-cap such as Semler Scientific. Morgan Stanley’s 5.8 % position equates to roughly US$-level tens of millions (based on recent prices), increasing the free-float held by blue-chip funds and potentially tightening trading spreads. Because the filing is passive (Rule 13d-1(b)) there is no immediate prospect of activism, yet heightened coverage from sell-side desks typically follows such holdings. In my view the disclosure is incrementally bullish for sentiment but not transformative to fundamentals.

Portfolio Manager

TL;DR: Passive ownership, neutral on control; watch for follow-on filings to gauge conviction.

The filing merely documents shares already accumulated across Morgan Stanley Investment Management accounts. With no sole voting authority and explicit certification of non-control intent, the stake should not alter corporate strategy. For existing holders the key takeaway is the added liquidity buffer provided by a large, diversified financial institution. Unless the position approaches 10 % (Form 13D threshold) or moves to active status, I classify the impact as modest and monitoring-only.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Semler Scientific, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

81684M104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 81684M104

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 790,437.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 789,925.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

790,603.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 81684M104

1

Names of Reporting Persons

Morgan Stanley Investment Management Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 788,492.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 788,492.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

788,492.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Semler Scientific, Inc.
(b)	Address of issuer's principal executive offices: 51 E CAMPBELL AVE, SUITE 107-D, CAMPBELL, CA, 95008
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Investment Management Inc.
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 81684M104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 5.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Christopher O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	08/07/2025

Morgan Stanley Investment Management Inc.

Signature:	Deidre A. Downes
Name/Title:	Authorized Signatory, Morgan Stanley Investment Management Inc.
Date:	08/07/2025

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

How many Semler Scientific (SMLR) shares does Morgan Stanley now own?

The filing discloses approximately 790,603 common shares, representing 5.8 % of the company.

Is Morgan Stanley’s SMLR stake active or passive?

It is passive; the Schedule 13G was filed under Rule 13d-1(b), indicating no intent to influence control.

What voting power does Morgan Stanley report for SMLR shares?

Morgan Stanley lists 790,437 shares with shared voting power and 0 shares with sole voting authority.

When was the ownership threshold crossed for disclosure purposes?

The event date triggering the filing is 30 June 2025.

Who signed the Schedule 13G on behalf of Morgan Stanley?

Christopher O'Hara signed for Morgan Stanley and Deidre A. Downes signed for Morgan Stanley Investment Management on 07 Aug 2025.