MENLO ADVISORS LLC Long-Term Concentrated

CIK: 0001279708 · Show all filings

Period: Q4 2017 (← Previous) (Next →)

Filing Date: Jan 9, 2018

Total Value: $138M (100.0% shares, 0.0% debt)

Holdings (43)

BRK/B BERKSHIRE HATHAWAY CLASS B 14.8%

Value $20.5M Shares 103,443 Est. Cost $110.46 Unrealized +71.9%

BAC BANK OF AMERICA CORP 5.2%

Value $7.128M Shares 241,490 Est. Cost $10.31 Unrealized +121.0%

MKL MARKEL CORP 5.1%

Value $7.014M Shares 6,158 Est. Cost $526.07 Unrealized +107.8%

— ABBVIE INC 4.9%

Value $6.787M Shares 70,185 Est. Cost $46.39 Unrealized —

— CISCO SYSTEMS INC 4.6%

Value $6.335M Shares 165,414 Est. Cost $24.33 Unrealized —

MSFT MICROSOFT CORP 4.5%

Value $6.246M Shares 73,021 Est. Cost $26.70 Unrealized +181.8%

— HOWARD HUGHES CORP 4.4%

Value $6.069M Shares 46,233 Est. Cost $114.41 Unrealized —

— SPDR GOLD SHARES ETF 4.2%

Value $5.773M Shares 46,692 Est. Cost $121.14 Unrealized —

— VALUESHARES U S QUANTITATIVE V 4.1%

Value $5.71M Shares 185,950 Est. Cost $21.37 Unrealized —

GLW CORNING INC 3.7%

Value $5.173M Shares 161,720 Est. Cost $12.64 Unrealized +99.6%

— ALPHABET INC. CLASS C 3.4%

Value $4.687M Shares 4,480 Est. Cost $572.35 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 3.3%

Value $4.623M Shares 135,353 Est. Cost $18.97 Unrealized —

— VODAFONE GROUP F SPONSORED ADR 3.3%

Value $4.575M Shares 143,431 Est. Cost $34.15 Unrealized —

AIG AMERICAN INTL GROUP 3.1%

Value $4.348M Shares 72,993 Est. Cost $32.58 Unrealized +52.6%

— ALPHABET INC. CLASS A 3.1%

Value $4.322M Shares 4,103 Est. Cost $875.83 Unrealized —

AAPL APPLE INC 3.0%

Value $4.179M Shares 24,696 Est. Cost $18.53 Unrealized +111.0%

— LIBERTY MEDIA CORP SERIES C LI 3.0%

Value $4.171M Shares 105,179 Est. Cost $30.86 Unrealized —

GVAL CAMBRIA GLOBAL VALUE ETF 2.9%

Value $4.012M Shares 156,671 Est. Cost $22.58 Unrealized —

— WISDOMTREE EMRG MRKT HG DIV ET 2.4%

Value $3.381M Shares 74,565 Est. Cost $40.85 Unrealized —

— VANECK VECTORS GOLD MINERS ETF 1.9%

Value $2.63M Shares 113,170 Est. Cost $27.39 Unrealized —

ABT ABBOTT LABORATORIES 1.8%

Value $2.556M Shares 44,798 Est. Cost $28.85 Unrealized +66.8%

— NEW RESIDENTIAL INVE REIT 1.7%

Value $2.41M Shares 134,790 Est. Cost $16.97 Unrealized —

— DISCOVERY COMM INC CLASS C 1.6%

Value $2.252M Shares 106,420 Est. Cost $26.78 Unrealized —

— JD.COM INC F SPONSORED ADR 1 A 1.6%

Value $2.172M Shares 52,455 Est. Cost $38.19 Unrealized —

IGSB ISHARES 1-3 YEAR CREDIT BOND E 1.4%

Value $1.95M Shares 18,660 Est. Cost $104.99 Unrealized —

— PROSHARES SHORT S&P 500 ETF NE 1.3%

Value $1.779M Shares 58,954 Est. Cost $39.65 Unrealized —

— SPDR NUVEEN BARCLAYS XXX REVER 1.2%

Value $1.689M Shares 35,274 Est. Cost $24.69 Unrealized —

— VALUESHARES INTRNTNL QNTV VAL 0.6%

Value $777K Shares 23,530 Est. Cost $23.82 Unrealized —

— TESLA INC 0.6%

Value $770K Shares 2,475 Est. Cost $129.86 Unrealized —

— BLACKROCK CALIFORNIA MUN 0.4%

Value $616K Shares 42,370 Est. Cost $14.97 Unrealized —

IGIB ISHARES INTERM CREDIT BOND ETF 0.4%

Value $613K Shares 5,615 Est. Cost $107.60 Unrealized —

— COHEN STEERS REIT PREFER 0.3%

Value $427K Shares 20,088 Est. Cost $20.32 Unrealized —

— WISDOMTREE FUNDAMENTAL US SHOR 0.3%

Value $371K Shares 7,570 Est. Cost $49.95 Unrealized —

— SOLAR SENIOR CAPITAL 0.3%

Value $359K Shares 20,265 Est. Cost $18.28 Unrealized —

SCHO SCHWAB SHORT TERM US TREASURY 0.3%

Value $350K Shares 7,015 Est. Cost $50.30 Unrealized —

— BANK OF AMERIC 7.25 PFD CONV S 0.2%

Value $282K Shares 214 Est. Cost $1191.59 Unrealized —

— NORTHWEST NATURAL GA 0.2%

Value $238K Shares 4,000 Est. Cost $50.50 Unrealized —

— MOMNTMSHRS US QUNTITATV MOMNTM 0.2%

Value $226K Shares 7,920 Est. Cost $25.63 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 0.2%

Value $226K Shares 10,215 Est. Cost $14.59 Unrealized —

— DUFF & PHELPS UTILITY & 0.2%

Value $221K Shares 25,065 Est. Cost $9.17 Unrealized —

— CRIMSON WINE GROUP 0.1%

Value $130K Shares 12,203 Est. Cost $8.50 Unrealized —

— VEREIT INC REIT 0.1%

Value $99,000 Shares 12,787 Est. Cost $8.06 Unrealized —

ARAY ACCURAY INC 0.0%

Value $43,000 Shares 10,000 Est. Cost $5.05 Unrealized -9.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	103,443	$20.5M	14.8%	$110.46	+71.9%	COM	084670702
BAC	BANK OF AMERICA CORP	241,490	$7.128M	5.2%	$10.31	+121.0%	COM	060505104
MKL	MARKEL CORP	6,158	$7.014M	5.1%	$526.07	+107.8%	COM	570535104
—	ABBVIE INC	70,185	$6.787M	4.9%	$46.39	—	COM	00287y109
—	CISCO SYSTEMS INC	165,414	$6.335M	4.6%	$24.33	—	COM	17275r102
MSFT	MICROSOFT CORP	73,021	$6.246M	4.5%	$26.70	+181.8%	COM	594918104
—	HOWARD HUGHES CORP	46,233	$6.069M	4.4%	$114.41	—	COM	44267d107
—	SPDR GOLD SHARES ETF	46,692	$5.773M	4.2%	$121.14	—	UIUS	78463v107
—	VALUESHARES U S QUANTITATIVE V	185,950	$5.71M	4.1%	$21.37	—	COM	02072l102
GLW	CORNING INC	161,720	$5.173M	3.7%	$12.64	+99.6%	COM	219350105
—	ALPHABET INC. CLASS C	4,480	$4.687M	3.4%	$572.35	—	COM	02079k107
—	LIBERTY MEDIA CORP SERIES C LI	135,353	$4.623M	3.3%	$18.97	—	COM	531229854
—	VODAFONE GROUP F SPONSORED ADR	143,431	$4.575M	3.3%	$34.15	—	COM	92857w308
AIG	AMERICAN INTL GROUP	72,993	$4.348M	3.1%	$32.58	+52.6%	COM	026874784
—	ALPHABET INC. CLASS A	4,103	$4.322M	3.1%	$875.83	—	COM	02079k305
AAPL	APPLE INC	24,696	$4.179M	3.0%	$18.53	+111.0%	COM	037833100
—	LIBERTY MEDIA CORP SERIES C LI	105,179	$4.171M	3.0%	$30.86	—	COM	531229607
GVAL	CAMBRIA GLOBAL VALUE ETF	156,671	$4.012M	2.9%	$22.58	—	UIUS	132061409
—	WISDOMTREE EMRG MRKT HG DIV ET	74,565	$3.381M	2.4%	$40.85	—	UIUS	97717w315
—	VANECK VECTORS GOLD MINERS ETF	113,170	$2.63M	1.9%	$27.39	—	UIUS	92189f106
ABT	ABBOTT LABORATORIES	44,798	$2.556M	1.8%	$28.85	+66.8%	COM	002824100
—	NEW RESIDENTIAL INVE REIT	134,790	$2.41M	1.7%	$16.97	—	COM	64828t201
—	DISCOVERY COMM INC CLASS C	106,420	$2.252M	1.6%	$26.78	—	COM	25470f302
—	JD.COM INC F SPONSORED ADR 1 A	52,455	$2.172M	1.6%	$38.19	—	COM	47215p106
IGSB	ISHARES 1-3 YEAR CREDIT BOND E	18,660	$1.95M	1.4%	$104.99	—	UHUS	464288646
—	PROSHARES SHORT S&P 500 ETF NE	58,954	$1.779M	1.3%	$39.65	—	COM	74347b425
—	SPDR NUVEEN BARCLAYS XXX REVER	35,274	$1.689M	1.2%	$24.69	—	UHUS	78464a425
—	VALUESHARES INTRNTNL QNTV VAL	23,530	$777K	0.6%	$23.82	—	COM	02072l201
—	TESLA INC	2,475	$770K	0.6%	$129.86	—	COM	88160r101
—	BLACKROCK CALIFORNIA MUN	42,370	$616K	0.4%	$14.97	—	UHUS	09249c105
IGIB	ISHARES INTERM CREDIT BOND ETF	5,615	$613K	0.4%	$107.60	—	UHUS	464288638
—	COHEN STEERS REIT PREFER	20,088	$427K	0.3%	$20.32	—	COM	19247x100
—	WISDOMTREE FUNDAMENTAL US SHOR	7,570	$371K	0.3%	$49.95	—	COM	97717x149
—	SOLAR SENIOR CAPITAL	20,265	$359K	0.3%	$18.28	—	COM	83416m105
SCHO	SCHWAB SHORT TERM US TREASURY	7,015	$350K	0.3%	$50.30	—	UHUS	808524862
—	BANK OF AMERIC 7.25 PFD CONV S	214	$282K	0.2%	$1191.59	—	CPUS	060505682
—	NORTHWEST NATURAL GA	4,000	$238K	0.2%	$50.50	—	COM	667655104
—	MOMNTMSHRS US QUNTITATV MOMNTM	7,920	$226K	0.2%	$25.63	—	COM	02072l409
—	LIBERTY MEDIA CORP SERIES C LI	10,215	$226K	0.2%	$14.59	—	COM	531229888
—	DUFF & PHELPS UTILITY &	25,065	$221K	0.2%	$9.17	—	COM	26432k108
—	CRIMSON WINE GROUP	12,203	$130K	0.1%	$8.50	—	COM	22662x100
—	VEREIT INC REIT	12,787	$99,000	0.1%	$8.06	—	COM	92339v100
ARAY	ACCURAY INC	10,000	$43,000	0.0%	$5.05	-9.1%	COM	004397105