Trump's financial disclosure is 927 pages long.
Buried inside it is a stock almost nobody talks about: McKesson.
Never heard of it? It touches 1 in 3 prescriptions filled in America. $403 BILLION in revenue last year. Bigger than Apple by sales.
And the story gets weirder the deeper you dig.
This company paid a record $150M DOJ fine for pumping opioids into communities.
Then got hit with an $8.1 BILLION settlement charge. It will be writing opioid checks until the 2040s.
The stock? Up 6x since 2019.
It keeps 1.5 cents of every dollar that flows through it. Sounds terrible.
It's not.
Suppliers effectively finance the whole operation.
It's an insurance float machine disguised as a trucking company, and it printed $5.4B in free cash flow last year.
It has bought back 40% of its own shares in a decade.
Here's the part nobody's saying out loud: its single biggest regulatory threat is Trump's own drug pricing agenda.
MFN pricing consumed 95% of analyst questions on one earnings call.
The President's portfolio holds the exact stock his policies are supposed to squeeze.
And the whole thing hangs on one thread: CVS is 24% of McKesson's revenue.
That contract expires in June 2027. The negotiation is happening NOW.
I read 10 years of annual reports and 10 earnings calls, rebuilt the model, and valued it like a buy-side analyst.
Bear case: $630. Base: $860. Bull: $1,025. Stock today: $803.
The President's advisers own the pipes of American medicine.
Full breakdown of why, and what it's actually worth:
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