MENLO ADVISORS LLC Long-Term Concentrated

CIK: 0001279708 · Show all filings

Period: Q4 2015 (← Previous) (Next →)

Filing Date: Jan 21, 2016

Total Value: $114M (100.0% shares, 0.0% debt)

Holdings (39)

BRK/B BERKSHIRE HATHAWAY CLASS B 12.5%

Value $14.24M Shares 107,828 Est. Cost $110.46 Unrealized +21.5%

MKL MARKEL CORP 6.6%

Value $7.466M Shares 8,453 Est. Cost $526.07 Unrealized +65.4%

AIG AMERICAN INTL GROUP 5.7%

Value $6.503M Shares 104,953 Est. Cost $32.58 Unrealized +45.3%

BAC BANK OF AMERICA CORP 4.9%

Value $5.625M Shares 334,235 Est. Cost $10.31 Unrealized +31.5%

— HOWARD HUGHES CORP 4.7%

Value $5.398M Shares 47,703 Est. Cost $114.31 Unrealized —

MSFT MICROSOFT CORP 4.6%

Value $5.252M Shares 94,672 Est. Cost $26.70 Unrealized +72.0%

— MEDTRONIC PLC F 4.5%

Value $5.159M Shares 67,071 Est. Cost $53.51 Unrealized —

— CISCO SYSTEMS INC 4.1%

Value $4.662M Shares 171,687 Est. Cost $24.33 Unrealized —

— ABBVIE INC 4.0%

Value $4.535M Shares 76,566 Est. Cost $46.39 Unrealized —

— YAHOO INC 4.0%

Value $4.506M Shares 135,492 Est. Cost $27.33 Unrealized —

— ALLEGHANY CORP DEL 3.9%

Value $4.413M Shares 9,235 Est. Cost $472.15 Unrealized —

— PROSHARES SHORT S&P 500 ETF 3.7%

Value $4.255M Shares 203,910 Est. Cost $22.51 Unrealized —

— VODAFONE GROUP F ADR 1 ADR REP 3.3%

Value $3.74M Shares 115,937 Est. Cost $35.35 Unrealized —

— ALPHABET INC. CLASS C 3.1%

Value $3.515M Shares 4,633 Est. Cost $566.24 Unrealized —

— ALPHABET INC. CLASS A 2.9%

Value $3.311M Shares 4,257 Est. Cost $875.83 Unrealized —

— SPDR GOLD SHARES ETF 2.6%

Value $2.999M Shares 29,564 Est. Cost $118.40 Unrealized —

GVAL CAMBRIA GLOBAL VALUE ETF 2.6%

Value $2.948M Shares 166,416 Est. Cost $22.63 Unrealized —

DDS DILLARDS INC CLASS A 2.4%

Value $2.741M Shares 41,715 Est. Cost $59.94 Unrealized -0.0%

AAPL APPLE INC 2.4%

Value $2.716M Shares 25,806 Est. Cost $18.34 Unrealized +40.3%

GLW CORNING INC 2.4%

Value $2.682M Shares 146,750 Est. Cost $10.49 Unrealized +32.1%

— HCP INC REIT REIT 2.1%

Value $2.422M Shares 63,359 Est. Cost $45.37 Unrealized —

QCOM QUALCOMM INC 2.0%

Value $2.273M Shares 45,490 Est. Cost $50.31 Unrealized -20.5%

ABT ABBOTT LABORATORIES 1.9%

Value $2.19M Shares 48,776 Est. Cost $28.85 Unrealized +26.7%

— LIBERTY MEDIA CORP 1.8%

Value $2.08M Shares 54,625 Est. Cost $34.45 Unrealized —

— SPDR NUVEEN BARCLAYS SHORT TER 1.7%

Value $1.976M Shares 81,125 Est. Cost $24.34 Unrealized —

IGSB ISHARES 1-3 YEAR CREDIT BOND E 1.7%

Value $1.958M Shares 18,720 Est. Cost $104.99 Unrealized —

— TESLA MOTORS INC 0.6%

Value $645K Shares 2,690 Est. Cost $129.86 Unrealized —

IGIB ISHARES INTERM CREDIT BOND ETF 0.5%

Value $611K Shares 5,700 Est. Cost $107.60 Unrealized —

— SPDR S&P 500 ETF 0.5%

Value $604K Shares 2,965 Est. Cost $203.71 Unrealized —

— BLACKROCK CALIFORNIA MUN 0.4%

Value $406K Shares 27,070 Est. Cost $15.00 Unrealized —

— WISDOMTREE EMRG MRKT HG DIV ET 0.3%

Value $374K Shares 11,830 Est. Cost $31.61 Unrealized —

— SOLAR SENIOR CAPITAL 0.3%

Value $293K Shares 19,710 Est. Cost $18.36 Unrealized —

— DUFF & PHELPS UTILITY & 0.2%

Value $254K Shares 27,705 Est. Cost $9.17 Unrealized —

— ISHARES CORE 1 5 YEAR USD BOND 0.2%

Value $248K Shares 2,500 Est. Cost $100.00 Unrealized —

— NORTHWEST NATURAL GA 0.2%

Value $202K Shares 4,000 Est. Cost $50.50 Unrealized —

ARAY ACCURAY INC 0.1%

Value $148K Shares 22,000 Est. Cost $5.05 Unrealized +27.2%

— NEW YORK REIT INC REIT 0.1%

Value $122K Shares 10,632 Est. Cost $9.88 Unrealized —

— CRIMSON WINE GROUP 0.1%

Value $116K Shares 13,186 Est. Cost $8.50 Unrealized —

— VEREIT INC REIT 0.1%

Value $101K Shares 12,787 Est. Cost $8.06 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	107,828	$14.24M	12.5%	$110.46	+21.5%	COM	084670702
MKL	MARKEL CORP	8,453	$7.466M	6.6%	$526.07	+65.4%	COM	570535104
AIG	AMERICAN INTL GROUP	104,953	$6.503M	5.7%	$32.58	+45.3%	COM	026874784
BAC	BANK OF AMERICA CORP	334,235	$5.625M	4.9%	$10.31	+31.5%	COM	060505104
—	HOWARD HUGHES CORP	47,703	$5.398M	4.7%	$114.31	—	COM	44267d107
MSFT	MICROSOFT CORP	94,672	$5.252M	4.6%	$26.70	+72.0%	COM	594918104
—	MEDTRONIC PLC F	67,071	$5.159M	4.5%	$53.51	—	COM	g5960l103
—	CISCO SYSTEMS INC	171,687	$4.662M	4.1%	$24.33	—	COM	17275r102
—	ABBVIE INC	76,566	$4.535M	4.0%	$46.39	—	COM	00287y109
—	YAHOO INC	135,492	$4.506M	4.0%	$27.33	—	COM	984332106
—	ALLEGHANY CORP DEL	9,235	$4.413M	3.9%	$472.15	—	COM	017175100
—	PROSHARES SHORT S&P 500 ETF	203,910	$4.255M	3.7%	$22.51	—	COM	74347r503
—	VODAFONE GROUP F ADR 1 ADR REP	115,937	$3.74M	3.3%	$35.35	—	COM	92857w308
—	ALPHABET INC. CLASS C	4,633	$3.515M	3.1%	$566.24	—	COM	02079k107
—	ALPHABET INC. CLASS A	4,257	$3.311M	2.9%	$875.83	—	COM	02079k305
—	SPDR GOLD SHARES ETF	29,564	$2.999M	2.6%	$118.40	—	UIUS	78463v107
GVAL	CAMBRIA GLOBAL VALUE ETF	166,416	$2.948M	2.6%	$22.63	—	UIUS	132061409
DDS	DILLARDS INC CLASS A	41,715	$2.741M	2.4%	$59.94	-0.0%	COM	254067101
AAPL	APPLE INC	25,806	$2.716M	2.4%	$18.34	+40.3%	COM	037833100
GLW	CORNING INC	146,750	$2.682M	2.4%	$10.49	+32.1%	COM	219350105
—	HCP INC REIT REIT	63,359	$2.422M	2.1%	$45.37	—	COM	40414l109
QCOM	QUALCOMM INC	45,490	$2.273M	2.0%	$50.31	-20.5%	COM	747525103
ABT	ABBOTT LABORATORIES	48,776	$2.19M	1.9%	$28.85	+26.7%	COM	002824100
—	LIBERTY MEDIA CORP	54,625	$2.08M	1.8%	$34.45	—	COM	531229300
—	SPDR NUVEEN BARCLAYS SHORT TER	81,125	$1.976M	1.7%	$24.34	—	UHUS	78464a425
IGSB	ISHARES 1-3 YEAR CREDIT BOND E	18,720	$1.958M	1.7%	$104.99	—	UHUS	464288646
—	TESLA MOTORS INC	2,690	$645K	0.6%	$129.86	—	COM	88160r101
IGIB	ISHARES INTERM CREDIT BOND ETF	5,700	$611K	0.5%	$107.60	—	UHUS	464288638
—	SPDR S&P 500 ETF	2,965	$604K	0.5%	$203.71	—	UIUS	78462f103
—	BLACKROCK CALIFORNIA MUN	27,070	$406K	0.4%	$15.00	—	UHUS	09249c105
—	WISDOMTREE EMRG MRKT HG DIV ET	11,830	$374K	0.3%	$31.61	—	UIUS	97717w315
—	SOLAR SENIOR CAPITAL	19,710	$293K	0.3%	$18.36	—	COM	83416m105
—	DUFF & PHELPS UTILITY &	27,705	$254K	0.2%	$9.17	—	COM	26432k108
—	ISHARES CORE 1 5 YEAR USD BOND	2,500	$248K	0.2%	$100.00	—	UHUS	46432f859
—	NORTHWEST NATURAL GA	4,000	$202K	0.2%	$50.50	—	COM	667655104
ARAY	ACCURAY INC	22,000	$148K	0.1%	$5.05	+27.2%	COM	004397105
—	NEW YORK REIT INC REIT	10,632	$122K	0.1%	$9.88	—	COM	64976l109
—	CRIMSON WINE GROUP	13,186	$116K	0.1%	$8.50	—	COM	22662x100
—	VEREIT INC REIT	12,787	$101K	0.1%	$8.06	—	COM	92339v100