MENLO ADVISORS LLC Long-Term Concentrated

Location: Menlo Park, CA

CIK: 0001279708 · Show all filings

Period: Q1 2019 (← Previous) (Next →)

Filing Date: Apr 10, 2019

Total Value: $140M (100.0% shares, 0.0% debt)

Holdings (39)

BRK/B BERKSHIRE HATHAWAY CLASS B 14.1%

Value $19.76M Shares 98,350 Share Price $200.88 Est. Cost/Share $110.48 Unrealized @ Report Date +82.7%

— CISCO SYSTEMS INC 5.3%

Value $7.502M Shares 138,953 Share Price $53.99 Est. Cost/Share $24.33 Unrealized @ Report Date —

— SPDR GOLD SHARES ETF 4.9%

Value $6.89M Shares 56,473 Share Price $122.01 Est. Cost/Share $121.16 Unrealized @ Report Date —

MSFT MICROSOFT CORP 4.2%

Value $5.923M Shares 50,226 Share Price $117.93 * Est. Cost/Share $26.70 Unrealized @ Report Date +283.1%

— HOWARD HUGHES CORP 4.1%

Value $5.796M Shares 52,694 Share Price $109.99 Est. Cost/Share $114.18 Unrealized @ Report Date —

— WISDOMTREE EMRG MRKT HG DIV ET 4.1%

Value $5.777M Shares 131,780 Share Price $43.84 Est. Cost/Share $42.09 Unrealized @ Report Date —

— WISDOMTREE JAPAN HEDGED EQUITY 4.0%

Value $5.612M Shares 110,900 Share Price $50.60 Est. Cost/Share $54.52 Unrealized @ Report Date —

DIS WALT DISNEY CO 3.9%

Value $5.542M Shares 49,915 Share Price $111.03 * Est. Cost/Share $100.82 Unrealized @ Report Date +7.0%

— ALPHA ARCHTCT US QUNTV VAL ETF 3.8%

Value $5.317M Shares 185,331 Share Price $28.69 Est. Cost/Share $21.37 Unrealized @ Report Date —

— ALPHABET INC. CLASS C 3.7%

Value $5.171M Shares 4,408 Share Price $1173.09 Est. Cost/Share $572.35 Unrealized @ Report Date —

— MADISON SQUARE GARDEN CO CL A 3.4%

Value $4.836M Shares 16,499 Share Price $293.11 Est. Cost/Share $270.17 Unrealized @ Report Date —

MKL MARKEL CORP 3.4%

Value $4.715M Shares 4,733 Share Price $996.20 Est. Cost/Share $526.07 Unrealized @ Report Date +93.0%

— ALPHABET INC. CLASS A 3.4%

Value $4.714M Shares 4,006 Share Price $1176.73 Est. Cost/Share $875.83 Unrealized @ Report Date —

— PROSHARES SHORT S&P500 3.3%

Value $4.685M Shares 169,454 Share Price $27.65 Est. Cost/Share $33.61 Unrealized @ Report Date —

BAC BANK OF AMERICA CORP 3.3%

Value $4.612M Shares 167,185 Share Price $27.59 * Est. Cost/Share $10.31 Unrealized @ Report Date +131.8%

GLW CORNING INC 3.2%

Value $4.515M Shares 136,405 Share Price $33.10 * Est. Cost/Share $12.64 Unrealized @ Report Date +114.0%

AAPL APPLE INC 3.2%

Value $4.451M Shares 23,433 Share Price $189.95 * Est. Cost/Share $18.53 Unrealized @ Report Date +118.3%

— LIBERTY MEDIA CORP SERIES C LI 2.8%

Value $3.985M Shares 104,214 Share Price $38.24 Est. Cost/Share $31.11 Unrealized @ Report Date —

— ALPHA ARCHTCT INTR QUNTV VAL E 2.6%

Value $3.594M Shares 128,028 Share Price $28.07 Est. Cost/Share $30.82 Unrealized @ Report Date —

— KINDER MORGAN INC 2.6%

Value $3.582M Shares 179,025 Share Price $20.01 Est. Cost/Share $20.01 Unrealized @ Report Date —

— ABBVIE INC 2.5%

Value $3.534M Shares 43,853 Share Price $80.59 Est. Cost/Share $46.39 Unrealized @ Report Date —

GVAL CAMBRIA GLOBAL VALUE ETF 2.5%

Value $3.487M Shares 154,091 Share Price $22.63 Est. Cost/Share $22.58 Unrealized @ Report Date —

— ANTERO RESOURCES COR 2.3%

Value $3.272M Shares 370,590 Share Price $8.83 Est. Cost/Share $8.83 Unrealized @ Report Date —

ABT ABBOTT LABORATORIES 2.2%

Value $3.084M Shares 38,583 Share Price $79.93 * Est. Cost/Share $28.85 Unrealized @ Report Date +129.2%

— NEW RESIDENTIAL INVE REIT 1.8%

Value $2.492M Shares 147,385 Share Price $16.91 Est. Cost/Share $17.04 Unrealized @ Report Date —

— VANECK VECTORS GOLD MINERS ETF 1.8%

Value $2.487M Shares 110,950 Share Price $22.42 Est. Cost/Share $27.39 Unrealized @ Report Date —

PETS PETMED EXPRESS INC 1.5%

Value $2.103M Shares 92,330 Share Price $22.78 Est. Cost/Share $37.37 Unrealized @ Report Date -39.7%

— COHEN STEERS REIT PREFER 0.4%

Value $578K Shares 28,063 Share Price $20.60 Est. Cost/Share $19.99 Unrealized @ Report Date —

— TESLA INC 0.4%

Value $516K Shares 1,845 Share Price $279.67 Est. Cost/Share $129.86 Unrealized @ Report Date —

— ALPHA ARCHTCT US QUNTV MTNM ET 0.2%

Value $285K Shares 9,682 Share Price $29.44 Est. Cost/Share $29.44 Unrealized @ Report Date —

— LIBERTY MEDIA CORP SERIES C LI 0.2%

Value $277K Shares 9,977 Share Price $27.76 Est. Cost/Share $14.59 Unrealized @ Report Date —

— SOLAR SENIOR CAPITAL 0.2%

Value $273K Shares 15,925 Share Price $17.14 Est. Cost/Share $18.28 Unrealized @ Report Date —

— BANK OF AMERIC 7.25 PFD CONV S 0.2%

Value $257K Shares 198 Share Price $1297.98 Est. Cost/Share $1191.59 Unrealized @ Report Date —

— NORTHWEST NATURAL HOLDIN 0.2%

Value $236K Shares 3,600 Share Price $65.56 Est. Cost/Share $66.67 Unrealized @ Report Date —

— COUPA SOFTWARE INCORPORA 0.2%

Value $236K Shares 2,596 Share Price $90.91 Est. Cost/Share $79.08 Unrealized @ Report Date —

— POWERSHARES S&P 500 XXX NAME C 0.1%

Value $206K Shares 1,973 Share Price $104.41 Est. Cost/Share $104.41 Unrealized @ Report Date —

— CRIMSON WINE GROUP 0.1%

Value $99,000 Shares 12,080 Share Price $8.20 Est. Cost/Share $8.50 Unrealized @ Report Date —

ARAY ACCURAY INC 0.0%

Value $47,000 Shares 10,000 Share Price $4.70 * Est. Cost/Share $5.05 Unrealized @ Report Date -9.9%

— BLACKROCK CALIFORNIA XXX ESCRO 0.0%

Value $0 Shares 42,370 Share Price $0.00 Est. Cost/Share — Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	98,350	$19.76M	14.1%	$200.88	$110.48	+82.7%	COM	084670702
—	CISCO SYSTEMS INC	138,953	$7.502M	5.3%	$53.99	$24.33	—	COM	17275r102
—	SPDR GOLD SHARES ETF	56,473	$6.89M	4.9%	$122.01	$121.16	—	UIUS	78463v107
MSFT	MICROSOFT CORP	50,226	$5.923M	4.2%	$117.93 *	$26.70	+283.1%	COM	594918104
—	HOWARD HUGHES CORP	52,694	$5.796M	4.1%	$109.99	$114.18	—	COM	44267d107
—	WISDOMTREE EMRG MRKT HG DIV ET	131,780	$5.777M	4.1%	$43.84	$42.09	—	UIUS	97717w315
—	WISDOMTREE JAPAN HEDGED EQUITY	110,900	$5.612M	4.0%	$50.60	$54.52	—	UIUS	97717w851
DIS	WALT DISNEY CO	49,915	$5.542M	3.9%	$111.03 *	$100.82	+7.0%	COM	254687106
—	ALPHA ARCHTCT US QUNTV VAL ETF	185,331	$5.317M	3.8%	$28.69	$21.37	—	COM	02072l102
—	ALPHABET INC. CLASS C	4,408	$5.171M	3.7%	$1173.09	$572.35	—	COM	02079k107
—	MADISON SQUARE GARDEN CO CL A	16,499	$4.836M	3.4%	$293.11	$270.17	—	COM	55825t103
MKL	MARKEL CORP	4,733	$4.715M	3.4%	$996.20	$526.07	+93.0%	COM	570535104
—	ALPHABET INC. CLASS A	4,006	$4.714M	3.4%	$1176.73	$875.83	—	COM	02079k305
—	PROSHARES SHORT S&P500	169,454	$4.685M	3.3%	$27.65	$33.61	—	COM	74347b425
BAC	BANK OF AMERICA CORP	167,185	$4.612M	3.3%	$27.59 *	$10.31	+131.8%	COM	060505104
GLW	CORNING INC	136,405	$4.515M	3.2%	$33.10 *	$12.64	+114.0%	COM	219350105
AAPL	APPLE INC	23,433	$4.451M	3.2%	$189.95 *	$18.53	+118.3%	COM	037833100
—	LIBERTY MEDIA CORP SERIES C LI	104,214	$3.985M	2.8%	$38.24	$31.11	—	COM	531229607
—	ALPHA ARCHTCT INTR QUNTV VAL E	128,028	$3.594M	2.6%	$28.07	$30.82	—	COM	02072l201
—	KINDER MORGAN INC	179,025	$3.582M	2.6%	$20.01	$20.01	—	COM	49456b101
—	ABBVIE INC	43,853	$3.534M	2.5%	$80.59	$46.39	—	COM	00287y109
GVAL	CAMBRIA GLOBAL VALUE ETF	154,091	$3.487M	2.5%	$22.63	$22.58	—	UIUS	132061409
—	ANTERO RESOURCES COR	370,590	$3.272M	2.3%	$8.83	$8.83	—	COM	03674x106
ABT	ABBOTT LABORATORIES	38,583	$3.084M	2.2%	$79.93 *	$28.85	+129.2%	COM	002824100
—	NEW RESIDENTIAL INVE REIT	147,385	$2.492M	1.8%	$16.91	$17.04	—	COM	64828t201
—	VANECK VECTORS GOLD MINERS ETF	110,950	$2.487M	1.8%	$22.42	$27.39	—	UIUS	92189f106
PETS	PETMED EXPRESS INC	92,330	$2.103M	1.5%	$22.78	$37.37	-39.7%	COM	716382106
—	COHEN STEERS REIT PREFER	28,063	$578K	0.4%	$20.60	$19.99	—	COM	19247x100
—	TESLA INC	1,845	$516K	0.4%	$279.67	$129.86	—	COM	88160r101
—	ALPHA ARCHTCT US QUNTV MTNM ET	9,682	$285K	0.2%	$29.44	$29.44	—	COM	02072l409
—	LIBERTY MEDIA CORP SERIES C LI	9,977	$277K	0.2%	$27.76	$14.59	—	COM	531229888
—	SOLAR SENIOR CAPITAL	15,925	$273K	0.2%	$17.14	$18.28	—	COM	83416m105
—	BANK OF AMERIC 7.25 PFD CONV S	198	$257K	0.2%	$1297.98	$1191.59	—	CPUS	060505682
—	NORTHWEST NATURAL HOLDIN	3,600	$236K	0.2%	$65.56	$66.67	—	COM	66765n105
—	COUPA SOFTWARE INCORPORA	2,596	$236K	0.2%	$90.91	$79.08	—	COM	22266l106
—	POWERSHARES S&P 500 XXX NAME C	1,973	$206K	0.1%	$104.41	$104.41	—	COM	739371813
—	CRIMSON WINE GROUP	12,080	$99,000	0.1%	$8.20	$8.50	—	COM	22662x100
ARAY	ACCURAY INC	10,000	$47,000	0.0%	$4.70 *	$5.05	-9.9%	COM	004397105
—	BLACKROCK CALIFORNIA XXX ESCRO	42,370	$0	0.0%	$0.00	—	—	COM	092esc102