MENLO ADVISORS LLC Long-Term Concentrated

Location: Menlo Park, CA

CIK: 0001279708 · Show all filings

Period: Q1 2016 (← Previous) (Next →)

Filing Date: Apr 13, 2016

Total Value: $109M (100.0% shares, 0.0% debt)

Holdings (38)

BRK/B BERKSHIRE HATHAWAY CLASS B 14.0%

Value $15.25M Shares 107,483 Share Price $141.87 * Est. Cost/Share $110.48 Unrealized @ Report Date +20.0%

MKL MARKEL CORP 6.9%

Value $7.506M Shares 8,419 Share Price $891.55 * Est. Cost/Share $526.07 Unrealized @ Report Date +63.4%

MSFT MICROSOFT CORP 4.8%

Value $5.198M Shares 94,132 Share Price $55.22 * Est. Cost/Share $26.70 Unrealized @ Report Date +72.5%

— HOWARD HUGHES CORP 4.6%

Value $5.031M Shares 47,511 Share Price $105.89 Est. Cost/Share $114.31 Unrealized @ Report Date —

— MEDTRONIC PLC F 4.6%

Value $5.024M Shares 66,991 Share Price $75.00 Est. Cost/Share $53.51 Unrealized @ Report Date —

— VODAFONE GROUP F ADR 1 ADR REP 4.6%

Value $4.995M Shares 155,852 Share Price $32.05 Est. Cost/Share $34.50 Unrealized @ Report Date —

— CISCO SYSTEMS INC 4.5%

Value $4.877M Shares 171,318 Share Price $28.47 Est. Cost/Share $24.33 Unrealized @ Report Date —

— ALLEGHANY CORP DEL 4.2%

Value $4.562M Shares 9,195 Share Price $496.14 Est. Cost/Share $472.15 Unrealized @ Report Date —

BAC BANK OF AMERICA CORP 4.1%

Value $4.5M Shares 332,870 Share Price $13.52 * Est. Cost/Share $10.31 Unrealized @ Report Date +5.3%

— ABBVIE INC 4.0%

Value $4.33M Shares 75,811 Share Price $57.12 Est. Cost/Share $46.39 Unrealized @ Report Date —

— LIBERTY MEDIA CORP 3.8%

Value $4.19M Shares 110,005 Share Price $38.09 Est. Cost/Share $36.28 Unrealized @ Report Date —

— PROSHARES SHORT S&P 500 ETF IV 3.8%

Value $4.161M Shares 203,910 Share Price $20.41 Est. Cost/Share $22.51 Unrealized @ Report Date —

AIG AMERICAN INTL GROUP 3.8%

Value $4.156M Shares 76,908 Share Price $54.04 * Est. Cost/Share $32.60 Unrealized @ Report Date +29.2%

— SPDR GOLD SHARES ETF 3.3%

Value $3.576M Shares 30,399 Share Price $117.64 Est. Cost/Share $118.37 Unrealized @ Report Date —

— ALPHABET INC. CLASS C 3.2%

Value $3.439M Shares 4,617 Share Price $744.86 Est. Cost/Share $566.24 Unrealized @ Report Date —

— ALPHABET INC. CLASS A 3.0%

Value $3.243M Shares 4,251 Share Price $762.88 Est. Cost/Share $875.83 Unrealized @ Report Date —

GLW CORNING INC 2.8%

Value $3.059M Shares 146,475 Share Price $20.88 * Est. Cost/Share $10.49 Unrealized @ Report Date +35.9%

GVAL CAMBRIA GLOBAL VALUE ETF IV 2.8%

Value $3.004M Shares 161,886 Share Price $18.56 Est. Cost/Share $22.63 Unrealized @ Report Date —

AAPL APPLE INC 2.6%

Value $2.799M Shares 25,688 Share Price $108.96 * Est. Cost/Share $18.34 Unrealized @ Report Date +22.9%

QCOM QUALCOMM INC 2.1%

Value $2.268M Shares 44,360 Share Price $51.13 * Est. Cost/Share $50.31 Unrealized @ Report Date -26.6%

— MARKET VECTORS GOLD MINERS ETF 2.0%

Value $2.146M Shares 107,475 Share Price $19.97 Est. Cost/Share $19.97 Unrealized @ Report Date —

ABT ABBOTT LABORATORIES 1.9%

Value $2.034M Shares 48,642 Share Price $41.82 * Est. Cost/Share $28.85 Unrealized @ Report Date +14.4%

— HCP INC REIT REIT 1.8%

Value $2.001M Shares 61,429 Share Price $32.57 Est. Cost/Share $45.37 Unrealized @ Report Date —

— SPDR NUVEEN BARCLAYS XXX REVER 1.8%

Value $1.98M Shares 40,561 Share Price $48.82 Est. Cost/Share $24.34 Unrealized @ Report Date —

IGSB ISHARES 1-3 YEAR CREDIT BOND E 1.8%

Value $1.973M Shares 18,720 Share Price $105.40 Est. Cost/Share $104.99 Unrealized @ Report Date —

IGIB ISHARES INTERM CREDIT BOND ETF 0.6%

Value $620K Shares 5,660 Share Price $109.54 Est. Cost/Share $107.60 Unrealized @ Report Date —

— TESLA MOTORS INC 0.6%

Value $618K Shares 2,690 Share Price $229.74 Est. Cost/Share $129.86 Unrealized @ Report Date —

— BLACKROCK CALIFORNIA MUN 0.4%

Value $437K Shares 29,070 Share Price $15.03 Est. Cost/Share $15.00 Unrealized @ Report Date —

— SOLAR SENIOR CAPITAL 0.3%

Value $284K Shares 19,540 Share Price $14.53 Est. Cost/Share $18.36 Unrealized @ Report Date —

— GUGGENHEIM S&P 500 EQL WEIGHT 0.2%

Value $263K Shares 3,350 Share Price $78.51 Est. Cost/Share $78.51 Unrealized @ Report Date —

— DUFF & PHELPS UTILITY & 0.2%

Value $262K Shares 27,245 Share Price $9.62 Est. Cost/Share $9.17 Unrealized @ Report Date —

— ISHARES CORE 1 5 YEAR USD BOND 0.2%

Value $251K Shares 2,500 Share Price $100.40 Est. Cost/Share $100.00 Unrealized @ Report Date —

TNET TRINET GROUP INC 0.2%

Value $231K Shares 16,100 Share Price $14.35 * Est. Cost/Share $13.83 Unrealized @ Report Date 0.0%

— NORTHWEST NATURAL GA 0.2%

Value $215K Shares 4,000 Share Price $53.75 Est. Cost/Share $50.50 Unrealized @ Report Date —

ARAY ACCURAY INC 0.1%

Value $127K Shares 22,000 Share Price $5.77 * Est. Cost/Share $5.05 Unrealized @ Report Date +9.6%

— VEREIT INC REIT 0.1%

Value $113K Shares 12,787 Share Price $8.84 Est. Cost/Share $8.06 Unrealized @ Report Date —

— CRIMSON WINE GROUP 0.1%

Value $110K Shares 13,169 Share Price $8.35 Est. Cost/Share $8.50 Unrealized @ Report Date —

— NEW YORK REIT INC REIT 0.1%

Value $107K Shares 10,632 Share Price $10.06 Est. Cost/Share $9.88 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	107,483	$15.25M	14.0%	$141.87 *	$110.48	+20.0%	COM	084670702
MKL	MARKEL CORP	8,419	$7.506M	6.9%	$891.55 *	$526.07	+63.4%	COM	570535104
MSFT	MICROSOFT CORP	94,132	$5.198M	4.8%	$55.22 *	$26.70	+72.5%	COM	594918104
—	HOWARD HUGHES CORP	47,511	$5.031M	4.6%	$105.89	$114.31	—	COM	44267d107
—	MEDTRONIC PLC F	66,991	$5.024M	4.6%	$75.00	$53.51	—	COM	g5960l103
—	VODAFONE GROUP F ADR 1 ADR REP	155,852	$4.995M	4.6%	$32.05	$34.50	—	COM	92857w308
—	CISCO SYSTEMS INC	171,318	$4.877M	4.5%	$28.47	$24.33	—	COM	17275r102
—	ALLEGHANY CORP DEL	9,195	$4.562M	4.2%	$496.14	$472.15	—	COM	017175100
BAC	BANK OF AMERICA CORP	332,870	$4.5M	4.1%	$13.52 *	$10.31	+5.3%	COM	060505104
—	ABBVIE INC	75,811	$4.33M	4.0%	$57.12	$46.39	—	COM	00287y109
—	LIBERTY MEDIA CORP	110,005	$4.19M	3.8%	$38.09	$36.28	—	COM	531229300
—	PROSHARES SHORT S&P 500 ETF IV	203,910	$4.161M	3.8%	$20.41	$22.51	—	COM	74347r503
AIG	AMERICAN INTL GROUP	76,908	$4.156M	3.8%	$54.04 *	$32.60	+29.2%	COM	026874784
—	SPDR GOLD SHARES ETF	30,399	$3.576M	3.3%	$117.64	$118.37	—	UIUS	78463v107
—	ALPHABET INC. CLASS C	4,617	$3.439M	3.2%	$744.86	$566.24	—	COM	02079k107
—	ALPHABET INC. CLASS A	4,251	$3.243M	3.0%	$762.88	$875.83	—	COM	02079k305
GLW	CORNING INC	146,475	$3.059M	2.8%	$20.88 *	$10.49	+35.9%	COM	219350105
GVAL	CAMBRIA GLOBAL VALUE ETF IV	161,886	$3.004M	2.8%	$18.56	$22.63	—	UIUS	132061409
AAPL	APPLE INC	25,688	$2.799M	2.6%	$108.96 *	$18.34	+22.9%	COM	037833100
QCOM	QUALCOMM INC	44,360	$2.268M	2.1%	$51.13 *	$50.31	-26.6%	COM	747525103
—	MARKET VECTORS GOLD MINERS ETF	107,475	$2.146M	2.0%	$19.97	$19.97	—	UIUS	57060u100
ABT	ABBOTT LABORATORIES	48,642	$2.034M	1.9%	$41.82 *	$28.85	+14.4%	COM	002824100
—	HCP INC REIT REIT	61,429	$2.001M	1.8%	$32.57	$45.37	—	COM	40414l109
—	SPDR NUVEEN BARCLAYS XXX REVER	40,561	$1.98M	1.8%	$48.82	$24.34	—	UHUS	78464a425
IGSB	ISHARES 1-3 YEAR CREDIT BOND E	18,720	$1.973M	1.8%	$105.40	$104.99	—	UHUS	464288646
IGIB	ISHARES INTERM CREDIT BOND ETF	5,660	$620K	0.6%	$109.54	$107.60	—	UHUS	464288638
—	TESLA MOTORS INC	2,690	$618K	0.6%	$229.74	$129.86	—	COM	88160r101
—	BLACKROCK CALIFORNIA MUN	29,070	$437K	0.4%	$15.03	$15.00	—	UHUS	09249c105
—	SOLAR SENIOR CAPITAL	19,540	$284K	0.3%	$14.53	$18.36	—	COM	83416m105
—	GUGGENHEIM S&P 500 EQL WEIGHT	3,350	$263K	0.2%	$78.51	$78.51	—	COM	78355w106
—	DUFF & PHELPS UTILITY &	27,245	$262K	0.2%	$9.62	$9.17	—	COM	26432k108
—	ISHARES CORE 1 5 YEAR USD BOND	2,500	$251K	0.2%	$100.40	$100.00	—	UHUS	46432f859
TNET	TRINET GROUP INC	16,100	$231K	0.2%	$14.35 *	$13.83	0.0%	COM	896288107
—	NORTHWEST NATURAL GA	4,000	$215K	0.2%	$53.75	$50.50	—	COM	667655104
ARAY	ACCURAY INC	22,000	$127K	0.1%	$5.77 *	$5.05	+9.6%	COM	004397105
—	VEREIT INC REIT	12,787	$113K	0.1%	$8.84	$8.06	—	COM	92339v100
—	CRIMSON WINE GROUP	13,169	$110K	0.1%	$8.35	$8.50	—	COM	22662x100
—	NEW YORK REIT INC REIT	10,632	$107K	0.1%	$10.06	$9.88	—	COM	64976l109