MENLO ADVISORS LLC Long-Term Concentrated

CIK: 0001279708 · Show all filings

Period: Q3 2017 (← Previous) (Next →)

Filing Date: Oct 13, 2017

Total Value: $132M (100.0% shares, 0.0% debt)

Holdings (43)

BRK/B BERKSHIRE HATHAWAY CLASS B 14.5%

Value $19.01M Shares 103,703 Est. Cost $110.46 Unrealized +60.0%

MKL MARKEL CORP 5.0%

Value $6.602M Shares 6,182 Est. Cost $526.07 Unrealized +96.6%

— ABBVIE INC 4.8%

Value $6.374M Shares 71,733 Est. Cost $46.39 Unrealized —

BAC BANK OF AMERICA CORP 4.7%

Value $6.134M Shares 242,105 Est. Cost $10.31 Unrealized +93.6%

— SPDR GOLD SHARES ETF 4.3%

Value $5.693M Shares 46,827 Est. Cost $121.14 Unrealized —

— CISCO SYSTEMS INC 4.2%

Value $5.582M Shares 166,002 Est. Cost $24.33 Unrealized —

— HOWARD HUGHES CORP 4.2%

Value $5.495M Shares 46,600 Est. Cost $114.41 Unrealized —

MSFT MICROSOFT CORP 4.2%

Value $5.472M Shares 73,471 Est. Cost $26.70 Unrealized +149.7%

— LIBERTY MEDIA CORP SERIES C LI 3.9%

Value $5.164M Shares 135,576 Est. Cost $18.97 Unrealized —

— VALUESHARES U S QUANTITATIVE V 3.8%

Value $5.064M Shares 186,520 Est. Cost $21.37 Unrealized —

AIG AMERICAN INTL GROUP 3.4%

Value $4.507M Shares 73,418 Est. Cost $32.58 Unrealized +54.0%

— LIBERTY MEDIA CORP SERIES C LI 3.4%

Value $4.431M Shares 105,839 Est. Cost $30.86 Unrealized —

— ALPHABET INC. CLASS C 3.3%

Value $4.309M Shares 4,493 Est. Cost $572.35 Unrealized —

— VODAFONE GROUP F SPONSORED ADR 3.3%

Value $4.28M Shares 150,401 Est. Cost $34.15 Unrealized —

GLW CORNING INC 3.1%

Value $4.132M Shares 138,125 Est. Cost $10.49 Unrealized +124.9%

— ALPHABET INC. CLASS A 3.0%

Value $4.007M Shares 4,116 Est. Cost $875.83 Unrealized —

GVAL CAMBRIA GLOBAL VALUE ETF 3.0%

Value $3.962M Shares 157,061 Est. Cost $22.58 Unrealized —

AAPL APPLE INC 2.9%

Value $3.824M Shares 24,815 Est. Cost $18.53 Unrealized +95.1%

— PROSHARES SHORT S&P 500 ETF NE 2.5%

Value $3.279M Shares 101,954 Est. Cost $39.65 Unrealized —

— WISDOMTREE EMRG MRKT HG DIV ET 2.4%

Value $3.21M Shares 74,655 Est. Cost $40.85 Unrealized —

— VANECK VECTORS GOLD MINERS ETF 2.0%

Value $2.609M Shares 113,640 Est. Cost $27.39 Unrealized —

ABT ABBOTT LABORATORIES 1.8%

Value $2.395M Shares 44,898 Est. Cost $28.85 Unrealized +50.3%

— NEW RESIDENTIAL INVE REIT 1.7%

Value $2.268M Shares 135,585 Est. Cost $16.97 Unrealized —

— DISCOVERY COMM INC CLASS C 1.7%

Value $2.187M Shares 107,985 Est. Cost $26.78 Unrealized —

— JD.COM INC F SPONSORED ADR 1 A 1.5%

Value $2.004M Shares 52,475 Est. Cost $38.19 Unrealized —

IGSB ISHARES 1-3 YEAR CREDIT BOND E 1.5%

Value $1.965M Shares 18,660 Est. Cost $104.99 Unrealized —

— SPDR NUVEEN BARCLAYS XXX REVER 1.3%

Value $1.719M Shares 35,374 Est. Cost $24.69 Unrealized —

— TESLA INC 0.7%

Value $861K Shares 2,525 Est. Cost $129.86 Unrealized —

— VALUESHARES INTRNTNL QNTV VAL 0.6%

Value $786K Shares 24,530 Est. Cost $23.82 Unrealized —

IGIB ISHARES INTERM CREDIT BOND ETF 0.5%

Value $618K Shares 5,615 Est. Cost $107.60 Unrealized —

— BLACKROCK CALIFORNIA MUN 0.4%

Value $562K Shares 37,370 Est. Cost $15.03 Unrealized —

— COHEN STEERS REIT PREFER 0.3%

Value $422K Shares 19,938 Est. Cost $20.32 Unrealized —

— WISDOMTREE FUNDAMENTAL US SHOR 0.3%

Value $381K Shares 7,570 Est. Cost $49.95 Unrealized —

— SOLAR SENIOR CAPITAL 0.3%

Value $354K Shares 20,590 Est. Cost $18.28 Unrealized —

SCHO SCHWAB SHORT TERM US TREASURY 0.3%

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

— BANK OF AMERIC 7.25 PFD CONV S 0.2%

Value $278K Shares 214 Est. Cost $1191.59 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 0.2%

Value $258K Shares 10,232 Est. Cost $14.59 Unrealized —

— NORTHWEST NATURAL GA 0.2%

Value $257K Shares 4,000 Est. Cost $50.50 Unrealized —

— DUFF & PHELPS UTILITY & 0.2%

Value $231K Shares 25,065 Est. Cost $9.17 Unrealized —

— MOMNTMSHRS US QUNTITATV MOMNTM 0.2%

Value $228K Shares 8,420 Est. Cost $25.63 Unrealized —

— CRIMSON WINE GROUP 0.1%

Value $131K Shares 12,219 Est. Cost $8.50 Unrealized —

— VEREIT INC REIT 0.1%

Value $106K Shares 12,787 Est. Cost $8.06 Unrealized —

ARAY ACCURAY INC 0.0%

Value $40,000 Shares 10,000 Est. Cost $5.05 Unrealized -15.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	103,703	$19.01M	14.5%	$110.46	+60.0%	COM	084670702
MKL	MARKEL CORP	6,182	$6.602M	5.0%	$526.07	+96.6%	COM	570535104
—	ABBVIE INC	71,733	$6.374M	4.8%	$46.39	—	COM	00287y109
BAC	BANK OF AMERICA CORP	242,105	$6.134M	4.7%	$10.31	+93.6%	COM	060505104
—	SPDR GOLD SHARES ETF	46,827	$5.693M	4.3%	$121.14	—	UIUS	78463v107
—	CISCO SYSTEMS INC	166,002	$5.582M	4.2%	$24.33	—	COM	17275r102
—	HOWARD HUGHES CORP	46,600	$5.495M	4.2%	$114.41	—	COM	44267d107
MSFT	MICROSOFT CORP	73,471	$5.472M	4.2%	$26.70	+149.7%	COM	594918104
—	LIBERTY MEDIA CORP SERIES C LI	135,576	$5.164M	3.9%	$18.97	—	COM	531229854
—	VALUESHARES U S QUANTITATIVE V	186,520	$5.064M	3.8%	$21.37	—	COM	02072l102
AIG	AMERICAN INTL GROUP	73,418	$4.507M	3.4%	$32.58	+54.0%	COM	026874784
—	LIBERTY MEDIA CORP SERIES C LI	105,839	$4.431M	3.4%	$30.86	—	COM	531229607
—	ALPHABET INC. CLASS C	4,493	$4.309M	3.3%	$572.35	—	COM	02079k107
—	VODAFONE GROUP F SPONSORED ADR	150,401	$4.28M	3.3%	$34.15	—	COM	92857w308
GLW	CORNING INC	138,125	$4.132M	3.1%	$10.49	+124.9%	COM	219350105
—	ALPHABET INC. CLASS A	4,116	$4.007M	3.0%	$875.83	—	COM	02079k305
GVAL	CAMBRIA GLOBAL VALUE ETF	157,061	$3.962M	3.0%	$22.58	—	UIUS	132061409
AAPL	APPLE INC	24,815	$3.824M	2.9%	$18.53	+95.1%	COM	037833100
—	PROSHARES SHORT S&P 500 ETF NE	101,954	$3.279M	2.5%	$39.65	—	COM	74347b425
—	WISDOMTREE EMRG MRKT HG DIV ET	74,655	$3.21M	2.4%	$40.85	—	UIUS	97717w315
—	VANECK VECTORS GOLD MINERS ETF	113,640	$2.609M	2.0%	$27.39	—	UIUS	92189f106
ABT	ABBOTT LABORATORIES	44,898	$2.395M	1.8%	$28.85	+50.3%	COM	002824100
—	NEW RESIDENTIAL INVE REIT	135,585	$2.268M	1.7%	$16.97	—	COM	64828t201
—	DISCOVERY COMM INC CLASS C	107,985	$2.187M	1.7%	$26.78	—	COM	25470f302
—	JD.COM INC F SPONSORED ADR 1 A	52,475	$2.004M	1.5%	$38.19	—	COM	47215p106
IGSB	ISHARES 1-3 YEAR CREDIT BOND E	18,660	$1.965M	1.5%	$104.99	—	UHUS	464288646
—	SPDR NUVEEN BARCLAYS XXX REVER	35,374	$1.719M	1.3%	$24.69	—	UHUS	78464a425
—	TESLA INC	2,525	$861K	0.7%	$129.86	—	COM	88160r101
—	VALUESHARES INTRNTNL QNTV VAL	24,530	$786K	0.6%	$23.82	—	COM	02072l201
IGIB	ISHARES INTERM CREDIT BOND ETF	5,615	$618K	0.5%	$107.60	—	UHUS	464288638
—	BLACKROCK CALIFORNIA MUN	37,370	$562K	0.4%	$15.03	—	UHUS	09249c105
—	COHEN STEERS REIT PREFER	19,938	$422K	0.3%	$20.32	—	COM	19247x100
—	WISDOMTREE FUNDAMENTAL US SHOR	7,570	$381K	0.3%	$49.95	—	COM	97717x149
—	SOLAR SENIOR CAPITAL	20,590	$354K	0.3%	$18.28	—	COM	83416m105
SCHO	SCHWAB SHORT TERM US TREASURY	7,015	$353K	0.3%	$50.30	—	UHUS	808524862
—	BANK OF AMERIC 7.25 PFD CONV S	214	$278K	0.2%	$1191.59	—	CPUS	060505682
—	LIBERTY MEDIA CORP SERIES C LI	10,232	$258K	0.2%	$14.59	—	COM	531229888
—	NORTHWEST NATURAL GA	4,000	$257K	0.2%	$50.50	—	COM	667655104
—	DUFF & PHELPS UTILITY &	25,065	$231K	0.2%	$9.17	—	COM	26432k108
—	MOMNTMSHRS US QUNTITATV MOMNTM	8,420	$228K	0.2%	$25.63	—	COM	02072l409
—	CRIMSON WINE GROUP	12,219	$131K	0.1%	$8.50	—	COM	22662x100
—	VEREIT INC REIT	12,787	$106K	0.1%	$8.06	—	COM	92339v100
ARAY	ACCURAY INC	10,000	$40,000	0.0%	$5.05	-15.0%	COM	004397105