MENLO ADVISORS LLC Long-Term Concentrated

CIK: 0001279708 · Show all filings

Period: Q4 2016 (← Previous) (Next →)

Filing Date: Jan 23, 2017

Total Value: $124M (100.0% shares, 0.0% debt)

Holdings (43)

BRK/B BERKSHIRE HATHAWAY CLASS B 13.9%

Value $17.27M Shares 105,943 Est. Cost $110.46 Unrealized +39.4%

BAC BANK OF AMERICA CORP 5.8%

Value $7.232M Shares 327,240 Est. Cost $10.31 Unrealized +52.1%

— LIBERTY MEDIA CORP SERIES C LI 5.2%

Value $6.499M Shares 207,458 Est. Cost $18.97 Unrealized —

MSFT MICROSOFT CORP 4.6%

Value $5.751M Shares 92,551 Est. Cost $26.70 Unrealized +102.0%

MKL MARKEL CORP 4.6%

Value $5.707M Shares 6,310 Est. Cost $526.07 Unrealized +69.5%

— HOWARD HUGHES CORP 4.3%

Value $5.394M Shares 47,277 Est. Cost $114.31 Unrealized —

— ALLEGHANY CORP DEL 4.3%

Value $5.358M Shares 8,811 Est. Cost $472.15 Unrealized —

— CISCO SYSTEMS INC 4.2%

Value $5.198M Shares 172,033 Est. Cost $24.33 Unrealized —

— SPDR GOLD SHARES ETF 4.1%

Value $5.114M Shares 46,659 Est. Cost $121.22 Unrealized —

AIG AMERICAN INTL GROUP 4.0%

Value $4.944M Shares 75,713 Est. Cost $32.58 Unrealized +52.9%

— ABBVIE INC 3.7%

Value $4.638M Shares 74,073 Est. Cost $46.39 Unrealized —

— VALUESHARES U S QUANTITATIVE V 3.7%

Value $4.63M Shares 187,100 Est. Cost $21.37 Unrealized —

— VODAFONE GROUP F SPONSORED ADR 3.2%

Value $3.957M Shares 161,972 Est. Cost $34.15 Unrealized —

— PROSHARES SHORT S&P 500 ETF NE 3.0%

Value $3.725M Shares 101,954 Est. Cost $39.65 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 3.0%

Value $3.673M Shares 108,289 Est. Cost $30.86 Unrealized —

GLW CORNING INC 2.8%

Value $3.544M Shares 146,040 Est. Cost $10.49 Unrealized +77.7%

— ALPHABET INC. CLASS C 2.8%

Value $3.473M Shares 4,500 Est. Cost $566.24 Unrealized —

— ALPHABET INC. CLASS A 2.7%

Value $3.352M Shares 4,230 Est. Cost $875.83 Unrealized —

GVAL CAMBRIA GLOBAL VALUE ETF 2.6%

Value $3.191M Shares 158,011 Est. Cost $22.57 Unrealized —

— DISCOVERY COMM INC CLASS C 2.5%

Value $3.108M Shares 116,060 Est. Cost $26.78 Unrealized —

AAPL APPLE INC 2.4%

Value $2.983M Shares 25,758 Est. Cost $18.34 Unrealized +42.2%

QCOM QUALCOMM INC 2.2%

Value $2.752M Shares 42,220 Est. Cost $50.31 Unrealized +3.8%

— VANECK VECTORS GOLD MINERS ETF 1.8%

Value $2.214M Shares 105,865 Est. Cost $27.71 Unrealized —

IGSB ISHARES 1-3 YEAR CREDIT BOND E 1.6%

Value $1.964M Shares 18,720 Est. Cost $104.99 Unrealized —

ABT ABBOTT LABORATORIES 1.5%

Value $1.859M Shares 48,417 Est. Cost $28.85 Unrealized +16.6%

— SPDR NUVEEN BARCLAYS XXX REVER 1.4%

Value $1.788M Shares 37,311 Est. Cost $24.34 Unrealized —

IGIB ISHARES INTERM CREDIT BOND ETF 0.5%

Value $612K Shares 5,660 Est. Cost $107.60 Unrealized —

— TESLA MOTORS INC 0.5%

Value $574K Shares 2,690 Est. Cost $129.86 Unrealized —

— VALUESHARES INTRNTNL QNTV VAL 0.4%

Value $513K Shares 19,985 Est. Cost $22.49 Unrealized —

— BLACKROCK CALIFORNIA MUN 0.4%

Value $507K Shares 33,770 Est. Cost $15.02 Unrealized —

TNET TRINET GROUP INC 0.3%

Value $412K Shares 16,100 Est. Cost $13.83 Unrealized +59.7%

— SOLAR SENIOR CAPITAL 0.3%

Value $321K Shares 19,540 Est. Cost $18.36 Unrealized —

— WISDOMTREE FUNDAMENTAL US SHOR 0.2%

Value $295K Shares 5,880 Est. Cost $49.83 Unrealized —

— GUGGENHEIM S&P 500 EQUAL WEIGH 0.2%

Value $290K Shares 3,350 Est. Cost $78.51 Unrealized —

— DUFF & PHELPS UTILITY & 0.2%

Value $257K Shares 27,245 Est. Cost $9.17 Unrealized —

— ISHARES CORE 1 5 YEAR USD BOND 0.2%

Value $250K Shares 5,000 Est. Cost $75.30 Unrealized —

— NORTHWEST NATURAL GA 0.2%

Value $239K Shares 4,000 Est. Cost $50.50 Unrealized —

— COHEN STEERS REIT PREFER 0.2%

Value $232K Shares 12,178 Est. Cost $20.33 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 0.2%

Value $219K Shares 10,665 Est. Cost $14.59 Unrealized —

— CRIMSON WINE GROUP 0.1%

Value $120K Shares 12,905 Est. Cost $8.50 Unrealized —

— VEREIT INC REIT 0.1%

Value $108K Shares 12,787 Est. Cost $8.06 Unrealized —

— NEW YORK REIT INC REIT 0.1%

Value $107K Shares 10,632 Est. Cost $9.88 Unrealized —

ARAY ACCURAY INC 0.0%

Value $46,000 Shares 10,000 Est. Cost $5.05 Unrealized +2.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	105,943	$17.27M	13.9%	$110.46	+39.4%	COM	084670702
BAC	BANK OF AMERICA CORP	327,240	$7.232M	5.8%	$10.31	+52.1%	COM	060505104
—	LIBERTY MEDIA CORP SERIES C LI	207,458	$6.499M	5.2%	$18.97	—	COM	531229854
MSFT	MICROSOFT CORP	92,551	$5.751M	4.6%	$26.70	+102.0%	COM	594918104
MKL	MARKEL CORP	6,310	$5.707M	4.6%	$526.07	+69.5%	COM	570535104
—	HOWARD HUGHES CORP	47,277	$5.394M	4.3%	$114.31	—	COM	44267d107
—	ALLEGHANY CORP DEL	8,811	$5.358M	4.3%	$472.15	—	COM	017175100
—	CISCO SYSTEMS INC	172,033	$5.198M	4.2%	$24.33	—	COM	17275r102
—	SPDR GOLD SHARES ETF	46,659	$5.114M	4.1%	$121.22	—	UIUS	78463v107
AIG	AMERICAN INTL GROUP	75,713	$4.944M	4.0%	$32.58	+52.9%	COM	026874784
—	ABBVIE INC	74,073	$4.638M	3.7%	$46.39	—	COM	00287y109
—	VALUESHARES U S QUANTITATIVE V	187,100	$4.63M	3.7%	$21.37	—	COM	02072l102
—	VODAFONE GROUP F SPONSORED ADR	161,972	$3.957M	3.2%	$34.15	—	COM	92857w308
—	PROSHARES SHORT S&P 500 ETF NE	101,954	$3.725M	3.0%	$39.65	—	COM	74347b425
—	LIBERTY MEDIA CORP SERIES C LI	108,289	$3.673M	3.0%	$30.86	—	COM	531229607
GLW	CORNING INC	146,040	$3.544M	2.8%	$10.49	+77.7%	COM	219350105
—	ALPHABET INC. CLASS C	4,500	$3.473M	2.8%	$566.24	—	COM	02079k107
—	ALPHABET INC. CLASS A	4,230	$3.352M	2.7%	$875.83	—	COM	02079k305
GVAL	CAMBRIA GLOBAL VALUE ETF	158,011	$3.191M	2.6%	$22.57	—	UIUS	132061409
—	DISCOVERY COMM INC CLASS C	116,060	$3.108M	2.5%	$26.78	—	COM	25470f302
AAPL	APPLE INC	25,758	$2.983M	2.4%	$18.34	+42.2%	COM	037833100
QCOM	QUALCOMM INC	42,220	$2.752M	2.2%	$50.31	+3.8%	COM	747525103
—	VANECK VECTORS GOLD MINERS ETF	105,865	$2.214M	1.8%	$27.71	—	UIUS	92189f106
IGSB	ISHARES 1-3 YEAR CREDIT BOND E	18,720	$1.964M	1.6%	$104.99	—	UHUS	464288646
ABT	ABBOTT LABORATORIES	48,417	$1.859M	1.5%	$28.85	+16.6%	COM	002824100
—	SPDR NUVEEN BARCLAYS XXX REVER	37,311	$1.788M	1.4%	$24.34	—	UHUS	78464a425
IGIB	ISHARES INTERM CREDIT BOND ETF	5,660	$612K	0.5%	$107.60	—	UHUS	464288638
—	TESLA MOTORS INC	2,690	$574K	0.5%	$129.86	—	COM	88160r101
—	VALUESHARES INTRNTNL QNTV VAL	19,985	$513K	0.4%	$22.49	—	COM	02072l201
—	BLACKROCK CALIFORNIA MUN	33,770	$507K	0.4%	$15.02	—	UHUS	09249c105
TNET	TRINET GROUP INC	16,100	$412K	0.3%	$13.83	+59.7%	COM	896288107
—	SOLAR SENIOR CAPITAL	19,540	$321K	0.3%	$18.36	—	COM	83416m105
—	WISDOMTREE FUNDAMENTAL US SHOR	5,880	$295K	0.2%	$49.83	—	COM	97717x149
—	GUGGENHEIM S&P 500 EQUAL WEIGH	3,350	$290K	0.2%	$78.51	—	COM	78355w106
—	DUFF & PHELPS UTILITY &	27,245	$257K	0.2%	$9.17	—	COM	26432k108
—	ISHARES CORE 1 5 YEAR USD BOND	5,000	$250K	0.2%	$75.30	—	UHUS	46432f859
—	NORTHWEST NATURAL GA	4,000	$239K	0.2%	$50.50	—	COM	667655104
—	COHEN STEERS REIT PREFER	12,178	$232K	0.2%	$20.33	—	COM	19247x100
—	LIBERTY MEDIA CORP SERIES C LI	10,665	$219K	0.2%	$14.59	—	COM	531229888
—	CRIMSON WINE GROUP	12,905	$120K	0.1%	$8.50	—	COM	22662x100
—	VEREIT INC REIT	12,787	$108K	0.1%	$8.06	—	COM	92339v100
—	NEW YORK REIT INC REIT	10,632	$107K	0.1%	$9.88	—	COM	64976l109
ARAY	ACCURAY INC	10,000	$46,000	0.0%	$5.05	+2.7%	COM	004397105