MENLO ADVISORS LLC Long-Term Concentrated

CIK: 0001279708 · Show all filings

Period: Q1 2018 (← Previous) (Next →)

Filing Date: Apr 11, 2018

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

Holdings (42)

BRK/B BERKSHIRE HATHAWAY CLASS B 14.9%

Value $20.63M Shares 103,443 Est. Cost $110.46 Unrealized +85.9%

MKL MARKEL CORP 5.2%

Value $7.206M Shares 6,158 Est. Cost $526.07 Unrealized +114.0%

MSFT MICROSOFT CORP 4.8%

Value $6.664M Shares 73,021 Est. Cost $26.70 Unrealized +215.7%

— HOWARD HUGHES CORP 4.7%

Value $6.436M Shares 46,263 Est. Cost $114.41 Unrealized —

— CISCO SYSTEMS INC 4.4%

Value $6.066M Shares 141,445 Est. Cost $24.33 Unrealized —

— SPDR GOLD SHARES ETF 4.3%

Value $5.875M Shares 46,707 Est. Cost $121.14 Unrealized —

— ALPHA ARCHTCT US QUNTV VAL ETF 4.1%

Value $5.644M Shares 186,905 Est. Cost $21.37 Unrealized —

BAC BANK OF AMERICA CORP 3.8%

Value $5.276M Shares 175,930 Est. Cost $10.31 Unrealized +152.8%

— PROSHARES SHORT S&P 500 ETF NE 3.5%

Value $4.816M Shares 158,954 Est. Cost $33.76 Unrealized —

— ABBVIE INC 3.3%

Value $4.622M Shares 48,835 Est. Cost $46.39 Unrealized —

— ALPHABET INC. CLASS C 3.3%

Value $4.622M Shares 4,480 Est. Cost $572.35 Unrealized —

GLW CORNING INC 3.3%

Value $4.508M Shares 161,720 Est. Cost $12.64 Unrealized +96.4%

— LIBERTY MEDIA CORP SERIES C LI 3.2%

Value $4.405M Shares 107,839 Est. Cost $31.11 Unrealized —

— ALPHABET INC. CLASS A 3.1%

Value $4.255M Shares 4,103 Est. Cost $875.83 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 3.0%

Value $4.175M Shares 135,353 Est. Cost $18.97 Unrealized —

AAPL APPLE INC 3.0%

Value $4.143M Shares 24,698 Est. Cost $18.53 Unrealized +118.2%

GVAL CAMBRIA GLOBAL VALUE ETF 3.0%

Value $4.12M Shares 156,671 Est. Cost $22.58 Unrealized —

— ALPHA ARCHTCT INTR QUNTV VAL E 2.9%

Value $3.986M Shares 122,090 Est. Cost $30.95 Unrealized —

AIG AMERICAN INTL GROUP 2.9%

Value $3.972M Shares 72,993 Est. Cost $32.58 Unrealized +47.5%

— WISDOMTREE EMRG MRKT HG DIV ET 2.6%

Value $3.575M Shares 74,770 Est. Cost $40.85 Unrealized —

— WISDOMTREE JAPAN HEDGED EQUITY 2.5%

Value $3.497M Shares 62,445 Est. Cost $56.00 Unrealized —

ABT ABBOTT LABORATORIES 1.9%

Value $2.654M Shares 44,298 Est. Cost $28.85 Unrealized +82.3%

— VANECK VECTORS GOLD MINERS ETF 1.8%

Value $2.487M Shares 113,170 Est. Cost $27.39 Unrealized —

— NEW RESIDENTIAL INVE REIT 1.6%

Value $2.217M Shares 134,790 Est. Cost $16.97 Unrealized —

— JD.COM INC F SPONSORED ADR 1 A 1.5%

Value $2.123M Shares 52,455 Est. Cost $38.19 Unrealized —

— DISCOVERY INC CLASS C 1.5%

Value $2.07M Shares 106,070 Est. Cost $26.78 Unrealized —

IGSB ISHARES 1-3 YEAR CREDIT BOND E 1.4%

Value $1.933M Shares 18,630 Est. Cost $104.99 Unrealized —

— SPDR NUVEEN BARCLAYS XXX REVER 1.2%

Value $1.658M Shares 34,684 Est. Cost $24.69 Unrealized —

— TESLA INC 0.5%

Value $638K Shares 2,400 Est. Cost $129.86 Unrealized —

— BLACKROCK CALIFORNIA MUN 0.5%

Value $625K Shares 42,370 Est. Cost $14.97 Unrealized —

IGIB ISHARES INTERM CREDIT BOND ETF 0.4%

Value $602K Shares 5,615 Est. Cost $107.60 Unrealized —

— COHEN STEERS REIT PREFER 0.3%

Value $462K Shares 24,768 Est. Cost $20.01 Unrealized —

— WISDOMTREE FUNDAMENTAL US SHOR 0.3%

Value $369K Shares 7,570 Est. Cost $49.95 Unrealized —

SCHO SCHWAB SHORT TERM US TREASURY 0.2%

Value $321K Shares 6,455 Est. Cost $50.30 Unrealized —

— SOLAR SENIOR CAPITAL 0.2%

Value $302K Shares 17,980 Est. Cost $18.28 Unrealized —

— BANK OF AMERIC 7.25 PFD CONV S 0.2%

Value $275K Shares 214 Est. Cost $1191.59 Unrealized —

— ALPHA ARCHTCT US QUNTV MTNM ET 0.2%

Value $236K Shares 7,920 Est. Cost $25.63 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 0.2%

Value $233K Shares 10,215 Est. Cost $14.59 Unrealized —

— NORTHWEST NATURAL GA 0.2%

Value $230K Shares 4,000 Est. Cost $50.50 Unrealized —

— CRIMSON WINE GROUP 0.1%

Value $120K Shares 12,203 Est. Cost $8.50 Unrealized —

— VEREIT INC REIT 0.1%

Value $88,000 Shares 12,787 Est. Cost $8.06 Unrealized —

ARAY ACCURAY INC 0.0%

Value $50,000 Shares 10,000 Est. Cost $5.05 Unrealized +3.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	103,443	$20.63M	14.9%	$110.46	+85.9%	COM	084670702
MKL	MARKEL CORP	6,158	$7.206M	5.2%	$526.07	+114.0%	COM	570535104
MSFT	MICROSOFT CORP	73,021	$6.664M	4.8%	$26.70	+215.7%	COM	594918104
—	HOWARD HUGHES CORP	46,263	$6.436M	4.7%	$114.41	—	COM	44267d107
—	CISCO SYSTEMS INC	141,445	$6.066M	4.4%	$24.33	—	COM	17275r102
—	SPDR GOLD SHARES ETF	46,707	$5.875M	4.3%	$121.14	—	UIUS	78463v107
—	ALPHA ARCHTCT US QUNTV VAL ETF	186,905	$5.644M	4.1%	$21.37	—	COM	02072l102
BAC	BANK OF AMERICA CORP	175,930	$5.276M	3.8%	$10.31	+152.8%	COM	060505104
—	PROSHARES SHORT S&P 500 ETF NE	158,954	$4.816M	3.5%	$33.76	—	COM	74347b425
—	ABBVIE INC	48,835	$4.622M	3.3%	$46.39	—	COM	00287y109
—	ALPHABET INC. CLASS C	4,480	$4.622M	3.3%	$572.35	—	COM	02079k107
GLW	CORNING INC	161,720	$4.508M	3.3%	$12.64	+96.4%	COM	219350105
—	LIBERTY MEDIA CORP SERIES C LI	107,839	$4.405M	3.2%	$31.11	—	COM	531229607
—	ALPHABET INC. CLASS A	4,103	$4.255M	3.1%	$875.83	—	COM	02079k305
—	LIBERTY MEDIA CORP SERIES C LI	135,353	$4.175M	3.0%	$18.97	—	COM	531229854
AAPL	APPLE INC	24,698	$4.143M	3.0%	$18.53	+118.2%	COM	037833100
GVAL	CAMBRIA GLOBAL VALUE ETF	156,671	$4.12M	3.0%	$22.58	—	UIUS	132061409
—	ALPHA ARCHTCT INTR QUNTV VAL E	122,090	$3.986M	2.9%	$30.95	—	COM	02072l201
AIG	AMERICAN INTL GROUP	72,993	$3.972M	2.9%	$32.58	+47.5%	COM	026874784
—	WISDOMTREE EMRG MRKT HG DIV ET	74,770	$3.575M	2.6%	$40.85	—	UIUS	97717w315
—	WISDOMTREE JAPAN HEDGED EQUITY	62,445	$3.497M	2.5%	$56.00	—	UIUS	97717w851
ABT	ABBOTT LABORATORIES	44,298	$2.654M	1.9%	$28.85	+82.3%	COM	002824100
—	VANECK VECTORS GOLD MINERS ETF	113,170	$2.487M	1.8%	$27.39	—	UIUS	92189f106
—	NEW RESIDENTIAL INVE REIT	134,790	$2.217M	1.6%	$16.97	—	COM	64828t201
—	JD.COM INC F SPONSORED ADR 1 A	52,455	$2.123M	1.5%	$38.19	—	COM	47215p106
—	DISCOVERY INC CLASS C	106,070	$2.07M	1.5%	$26.78	—	COM	25470f302
IGSB	ISHARES 1-3 YEAR CREDIT BOND E	18,630	$1.933M	1.4%	$104.99	—	UHUS	464288646
—	SPDR NUVEEN BARCLAYS XXX REVER	34,684	$1.658M	1.2%	$24.69	—	UHUS	78464a425
—	TESLA INC	2,400	$638K	0.5%	$129.86	—	COM	88160r101
—	BLACKROCK CALIFORNIA MUN	42,370	$625K	0.5%	$14.97	—	UHUS	09249c105
IGIB	ISHARES INTERM CREDIT BOND ETF	5,615	$602K	0.4%	$107.60	—	UHUS	464288638
—	COHEN STEERS REIT PREFER	24,768	$462K	0.3%	$20.01	—	COM	19247x100
—	WISDOMTREE FUNDAMENTAL US SHOR	7,570	$369K	0.3%	$49.95	—	COM	97717x149
SCHO	SCHWAB SHORT TERM US TREASURY	6,455	$321K	0.2%	$50.30	—	UHUS	808524862
—	SOLAR SENIOR CAPITAL	17,980	$302K	0.2%	$18.28	—	COM	83416m105
—	BANK OF AMERIC 7.25 PFD CONV S	214	$275K	0.2%	$1191.59	—	CPUS	060505682
—	ALPHA ARCHTCT US QUNTV MTNM ET	7,920	$236K	0.2%	$25.63	—	COM	02072l409
—	LIBERTY MEDIA CORP SERIES C LI	10,215	$233K	0.2%	$14.59	—	COM	531229888
—	NORTHWEST NATURAL GA	4,000	$230K	0.2%	$50.50	—	COM	667655104
—	CRIMSON WINE GROUP	12,203	$120K	0.1%	$8.50	—	COM	22662x100
—	VEREIT INC REIT	12,787	$88,000	0.1%	$8.06	—	COM	92339v100
ARAY	ACCURAY INC	10,000	$50,000	0.0%	$5.05	+3.7%	COM	004397105