MENLO ADVISORS LLC Long-Term Concentrated

CIK: 0001279708 · Show all filings

Period: Q2 2017 (← Previous) (Next →)

Filing Date: Jul 12, 2017

Total Value: $136M (100.0% shares, 0.0% debt)

Holdings (44)

BRK/B BERKSHIRE HATHAWAY CLASS B 13.3%

Value $18.04M Shares 106,488 Est. Cost $110.46 Unrealized +50.6%

— LIBERTY MEDIA CORP SERIES C LI 5.6%

Value $7.56M Shares 206,458 Est. Cost $18.97 Unrealized —

MSFT MICROSOFT CORP 4.7%

Value $6.379M Shares 92,551 Est. Cost $26.70 Unrealized +133.4%

MKL MARKEL CORP 4.5%

Value $6.147M Shares 6,300 Est. Cost $526.07 Unrealized +84.5%

BAC BANK OF AMERICA CORP 4.4%

Value $6.009M Shares 247,725 Est. Cost $10.31 Unrealized +85.3%

— HOWARD HUGHES CORP 4.3%

Value $5.877M Shares 47,843 Est. Cost $114.41 Unrealized —

— SPDR GOLD SHARES ETF 4.1%

Value $5.643M Shares 47,822 Est. Cost $121.14 Unrealized —

— ABBVIE INC 3.9%

Value $5.371M Shares 74,073 Est. Cost $46.39 Unrealized —

— CISCO SYSTEMS INC 3.9%

Value $5.365M Shares 171,436 Est. Cost $24.33 Unrealized —

— ALLEGHANY CORP DEL 3.7%

Value $4.99M Shares 8,390 Est. Cost $472.15 Unrealized —

— VALUESHARES U S QUANTITATIVE V 3.5%

Value $4.791M Shares 187,695 Est. Cost $21.37 Unrealized —

AIG AMERICAN INTL GROUP 3.5%

Value $4.717M Shares 75,458 Est. Cost $32.58 Unrealized +52.8%

— VODAFONE GROUP F SPONSORED ADR 3.4%

Value $4.639M Shares 161,482 Est. Cost $34.15 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 3.3%

Value $4.539M Shares 108,854 Est. Cost $30.86 Unrealized —

GLW CORNING INC 3.2%

Value $4.311M Shares 143,490 Est. Cost $10.49 Unrealized +117.1%

— ALPHABET INC. CLASS C 3.1%

Value $4.186M Shares 4,607 Est. Cost $572.35 Unrealized —

— ALPHABET INC. CLASS A 2.9%

Value $3.932M Shares 4,230 Est. Cost $875.83 Unrealized —

GVAL CAMBRIA GLOBAL VALUE ETF 2.8%

Value $3.815M Shares 161,691 Est. Cost $22.58 Unrealized —

AAPL APPLE INC 2.8%

Value $3.752M Shares 26,058 Est. Cost $18.53 Unrealized +85.2%

— PROSHARES SHORT S&P 500 ETF NE 2.5%

Value $3.415M Shares 101,954 Est. Cost $39.65 Unrealized —

— WISDOMTREE EMRG MRKT HG DIV ET 2.3%

Value $3.111M Shares 75,910 Est. Cost $40.85 Unrealized —

— DISCOVERY COMM INC CLASS C 2.1%

Value $2.923M Shares 115,960 Est. Cost $26.78 Unrealized —

— VANECK VECTORS GOLD MINERS ETF 1.7%

Value $2.338M Shares 105,900 Est. Cost $27.71 Unrealized —

ABT ABBOTT LABORATORIES 1.7%

Value $2.332M Shares 47,978 Est. Cost $28.85 Unrealized +34.9%

— NEW RESIDENTIAL INVE REIT 1.6%

Value $2.158M Shares 138,710 Est. Cost $16.97 Unrealized —

IGSB ISHARES 1-3 YEAR CREDIT BOND E 1.4%

Value $1.971M Shares 18,720 Est. Cost $104.99 Unrealized —

— SPDR NUVEEN BARCLAYS XXX REVER 1.3%

Value $1.777M Shares 36,646 Est. Cost $24.69 Unrealized —

— TESLA INC 0.7%

Value $913K Shares 2,525 Est. Cost $129.86 Unrealized —

— VALUESHARES INTRNTNL QNTV VAL 0.5%

Value $747K Shares 24,880 Est. Cost $23.82 Unrealized —

IGIB ISHARES INTERM CREDIT BOND ETF 0.5%

Value $616K Shares 5,615 Est. Cost $107.60 Unrealized —

— BLACKROCK CALIFORNIA MUN 0.4%

Value $563K Shares 37,370 Est. Cost $15.03 Unrealized —

— COHEN STEERS REIT PREFER 0.3%

Value $414K Shares 19,938 Est. Cost $20.32 Unrealized —

— WISDOMTREE FUNDAMENTAL US SHOR 0.3%

Value $371K Shares 7,370 Est. Cost $49.94 Unrealized —

SCHO SCHWAB SHORT TERM US TREASURY 0.3%

Value $353K Shares 7,015 Est. Cost $50.30 Unrealized —

— SOLAR SENIOR CAPITAL 0.3%

Value $344K Shares 20,590 Est. Cost $18.28 Unrealized —

— BANK OF AMERIC 7.25 PFD SER L 0.2%

Value $270K Shares 214 Est. Cost $1191.59 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 0.2%

Value $254K Shares 10,630 Est. Cost $14.59 Unrealized —

— NORTHWEST NATURAL GA 0.2%

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

— DUFF & PHELPS UTILITY & 0.2%

Value $230K Shares 25,065 Est. Cost $9.17 Unrealized —

— MOMNTMSHRS US QUNTITATV MOMNTM 0.1%

Value $202K Shares 8,170 Est. Cost $25.58 Unrealized —

— CRIMSON WINE GROUP 0.1%

Value $138K Shares 12,905 Est. Cost $8.50 Unrealized —

— VEREIT INC REIT 0.1%

Value $104K Shares 12,787 Est. Cost $8.06 Unrealized —

— NEW YORK REIT INC REIT 0.1%

Value $91,000 Shares 10,632 Est. Cost $9.88 Unrealized —

ARAY ACCURAY INC 0.0%

Value $47,000 Shares 10,000 Est. Cost $5.05 Unrealized -13.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	106,488	$18.04M	13.3%	$110.46	+50.6%	COM	084670702
—	LIBERTY MEDIA CORP SERIES C LI	206,458	$7.56M	5.6%	$18.97	—	COM	531229854
MSFT	MICROSOFT CORP	92,551	$6.379M	4.7%	$26.70	+133.4%	COM	594918104
MKL	MARKEL CORP	6,300	$6.147M	4.5%	$526.07	+84.5%	COM	570535104
BAC	BANK OF AMERICA CORP	247,725	$6.009M	4.4%	$10.31	+85.3%	COM	060505104
—	HOWARD HUGHES CORP	47,843	$5.877M	4.3%	$114.41	—	COM	44267d107
—	SPDR GOLD SHARES ETF	47,822	$5.643M	4.1%	$121.14	—	UIUS	78463v107
—	ABBVIE INC	74,073	$5.371M	3.9%	$46.39	—	COM	00287y109
—	CISCO SYSTEMS INC	171,436	$5.365M	3.9%	$24.33	—	COM	17275r102
—	ALLEGHANY CORP DEL	8,390	$4.99M	3.7%	$472.15	—	COM	017175100
—	VALUESHARES U S QUANTITATIVE V	187,695	$4.791M	3.5%	$21.37	—	COM	02072l102
AIG	AMERICAN INTL GROUP	75,458	$4.717M	3.5%	$32.58	+52.8%	COM	026874784
—	VODAFONE GROUP F SPONSORED ADR	161,482	$4.639M	3.4%	$34.15	—	COM	92857w308
—	LIBERTY MEDIA CORP SERIES C LI	108,854	$4.539M	3.3%	$30.86	—	COM	531229607
GLW	CORNING INC	143,490	$4.311M	3.2%	$10.49	+117.1%	COM	219350105
—	ALPHABET INC. CLASS C	4,607	$4.186M	3.1%	$572.35	—	COM	02079k107
—	ALPHABET INC. CLASS A	4,230	$3.932M	2.9%	$875.83	—	COM	02079k305
GVAL	CAMBRIA GLOBAL VALUE ETF	161,691	$3.815M	2.8%	$22.58	—	UIUS	132061409
AAPL	APPLE INC	26,058	$3.752M	2.8%	$18.53	+85.2%	COM	037833100
—	PROSHARES SHORT S&P 500 ETF NE	101,954	$3.415M	2.5%	$39.65	—	COM	74347b425
—	WISDOMTREE EMRG MRKT HG DIV ET	75,910	$3.111M	2.3%	$40.85	—	UIUS	97717w315
—	DISCOVERY COMM INC CLASS C	115,960	$2.923M	2.1%	$26.78	—	COM	25470f302
—	VANECK VECTORS GOLD MINERS ETF	105,900	$2.338M	1.7%	$27.71	—	UIUS	92189f106
ABT	ABBOTT LABORATORIES	47,978	$2.332M	1.7%	$28.85	+34.9%	COM	002824100
—	NEW RESIDENTIAL INVE REIT	138,710	$2.158M	1.6%	$16.97	—	COM	64828t201
IGSB	ISHARES 1-3 YEAR CREDIT BOND E	18,720	$1.971M	1.4%	$104.99	—	UHUS	464288646
—	SPDR NUVEEN BARCLAYS XXX REVER	36,646	$1.777M	1.3%	$24.69	—	UHUS	78464a425
—	TESLA INC	2,525	$913K	0.7%	$129.86	—	COM	88160r101
—	VALUESHARES INTRNTNL QNTV VAL	24,880	$747K	0.5%	$23.82	—	COM	02072l201
IGIB	ISHARES INTERM CREDIT BOND ETF	5,615	$616K	0.5%	$107.60	—	UHUS	464288638
—	BLACKROCK CALIFORNIA MUN	37,370	$563K	0.4%	$15.03	—	UHUS	09249c105
—	COHEN STEERS REIT PREFER	19,938	$414K	0.3%	$20.32	—	COM	19247x100
—	WISDOMTREE FUNDAMENTAL US SHOR	7,370	$371K	0.3%	$49.94	—	COM	97717x149
SCHO	SCHWAB SHORT TERM US TREASURY	7,015	$353K	0.3%	$50.30	—	UHUS	808524862
—	SOLAR SENIOR CAPITAL	20,590	$344K	0.3%	$18.28	—	COM	83416m105
—	BANK OF AMERIC 7.25 PFD SER L	214	$270K	0.2%	$1191.59	—	CPUS	060505682
—	LIBERTY MEDIA CORP SERIES C LI	10,630	$254K	0.2%	$14.59	—	COM	531229888
—	NORTHWEST NATURAL GA	4,000	$239K	0.2%	$50.50	—	COM	667655104
—	DUFF & PHELPS UTILITY &	25,065	$230K	0.2%	$9.17	—	COM	26432k108
—	MOMNTMSHRS US QUNTITATV MOMNTM	8,170	$202K	0.1%	$25.58	—	COM	02072l409
—	CRIMSON WINE GROUP	12,905	$138K	0.1%	$8.50	—	COM	22662x100
—	VEREIT INC REIT	12,787	$104K	0.1%	$8.06	—	COM	92339v100
—	NEW YORK REIT INC REIT	10,632	$91,000	0.1%	$9.88	—	COM	64976l109
ARAY	ACCURAY INC	10,000	$47,000	0.0%	$5.05	-13.1%	COM	004397105