MENLO ADVISORS LLC Long-Term Concentrated

CIK: 0001279708 · Show all filings

Period: Q2 2019 (← Previous) (Next →)

Filing Date: Jul 17, 2019

Total Value: $145M (100.0% shares, 0.0% debt)

Holdings (39)

BRK/B BERKSHIRE HATHAWAY CLASS B 14.4%

Value $20.97M Shares 98,380 Est. Cost $110.46 Unrealized +87.3%

— SPDR GOLD SHARES ETF 5.2%

Value $7.585M Shares 56,949 Est. Cost $121.16 Unrealized —

DIS WALT DISNEY CO 4.8%

Value $6.97M Shares 49,915 Est. Cost $100.82 Unrealized +27.0%

MSFT MICROSOFT CORP 4.6%

Value $6.731M Shares 50,251 Est. Cost $26.70 Unrealized +347.6%

— HOWARD HUGHES CORP 4.5%

Value $6.525M Shares 52,694 Est. Cost $114.18 Unrealized —

— WISDOMTREE EMRG MRKT HG DIV ET 4.1%

Value $5.885M Shares 131,780 Est. Cost $42.09 Unrealized —

— WISDOMTREE JAPAN HEDGED EQUITY 3.7%

Value $5.4M Shares 110,900 Est. Cost $54.52 Unrealized —

— ALPHA ARCHTCT US QUNTV VAL ETF 3.6%

Value $5.197M Shares 185,331 Est. Cost $21.37 Unrealized —

— MADISON SQUARE GARDEN CO CL A 3.6%

Value $5.177M Shares 18,494 Est. Cost $271.22 Unrealized —

— CISCO SYSTEMS INC 3.5%

Value $5.143M Shares 93,988 Est. Cost $24.33 Unrealized —

MKL MARKEL CORP 3.4%

Value $4.918M Shares 4,514 Est. Cost $526.07 Unrealized +99.2%

BAC BANK OF AMERICA CORP 3.3%

Value $4.848M Shares 167,185 Est. Cost $10.31 Unrealized +137.6%

— ALPHABET INC. CLASS C 3.3%

Value $4.764M Shares 4,408 Est. Cost $572.35 Unrealized —

AAPL APPLE INC 3.2%

Value $4.631M Shares 23,403 Est. Cost $18.53 Unrealized +151.7%

GLW CORNING INC 3.1%

Value $4.525M Shares 136,195 Est. Cost $12.64 Unrealized +110.6%

— PROSHARES SHORT S&P500 3.1%

Value $4.509M Shares 169,454 Est. Cost $33.61 Unrealized —

— KKR & CO INC CLASS A 3.0%

Value $4.374M Shares 173,095 Est. Cost $25.27 Unrealized —

— ALPHABET INC. CLASS A 3.0%

Value $4.337M Shares 4,006 Est. Cost $875.83 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 2.6%

Value $3.837M Shares 101,029 Est. Cost $31.11 Unrealized —

— KINDER MORGAN INC 2.6%

Value $3.738M Shares 179,025 Est. Cost $20.01 Unrealized —

GVAL CAMBRIA GLOBAL VALUE ETF 2.5%

Value $3.633M Shares 153,531 Est. Cost $22.58 Unrealized —

— ALPHA ARCHTCT INTR QUNTV VAL E 2.4%

Value $3.443M Shares 127,818 Est. Cost $30.82 Unrealized —

ABT ABBOTT LABORATORIES 2.2%

Value $3.236M Shares 38,483 Est. Cost $28.85 Unrealized +143.4%

— ABBVIE INC 2.2%

Value $3.182M Shares 43,762 Est. Cost $46.39 Unrealized —

— VANECK VECTORS GOLD MINERS ETF 2.0%

Value $2.839M Shares 111,085 Est. Cost $27.39 Unrealized —

— NEW RESIDENTIAL INVE REIT 1.6%

Value $2.268M Shares 147,385 Est. Cost $17.04 Unrealized —

— ANTERO RESOURCES COR 1.4%

Value $2.045M Shares 369,820 Est. Cost $8.83 Unrealized —

PETS PETMED EXPRESS INC 1.0%

Value $1.394M Shares 88,970 Est. Cost $37.37 Unrealized -47.4%

— COHEN STEERS REIT PREFER 0.4%

Value $606K Shares 28,063 Est. Cost $19.99 Unrealized —

— TESLA INC 0.3%

Value $412K Shares 1,845 Est. Cost $129.86 Unrealized —

— COUPA SOFTWARE INCORPORA 0.2%

Value $328K Shares 2,596 Est. Cost $79.08 Unrealized —

— ALPHA ARCHTCT US QUNTV MTNM ET 0.2%

Value $303K Shares 9,682 Est. Cost $29.44 Unrealized —

— LIBERTY MEDIA CORP SERIES C LI 0.2%

Value $277K Shares 9,915 Est. Cost $14.59 Unrealized —

— SOLAR SENIOR CAPITAL 0.2%

Value $253K Shares 15,925 Est. Cost $18.28 Unrealized —

— NORTHWEST NATURAL HOLDIN 0.2%

Value $250K Shares 3,600 Est. Cost $66.67 Unrealized —

— BANK OF AMERIC 7.25 PFD CONV S 0.2%

Value $249K Shares 182 Est. Cost $1191.59 Unrealized —

— POWERSHARES S&P 500 XXX NAME C 0.1%

Value $212K Shares 1,973 Est. Cost $104.41 Unrealized —

— CRIMSON WINE GROUP 0.1%

Value $96,000 Shares 12,049 Est. Cost $8.50 Unrealized —

ARAY ACCURAY INC 0.0%

Value $38,000 Shares 10,000 Est. Cost $5.05 Unrealized -20.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	98,380	$20.97M	14.4%	$110.46	+87.3%	COM	084670702
—	SPDR GOLD SHARES ETF	56,949	$7.585M	5.2%	$121.16	—	UIUS	78463v107
DIS	WALT DISNEY CO	49,915	$6.97M	4.8%	$100.82	+27.0%	COM	254687106
MSFT	MICROSOFT CORP	50,251	$6.731M	4.6%	$26.70	+347.6%	COM	594918104
—	HOWARD HUGHES CORP	52,694	$6.525M	4.5%	$114.18	—	COM	44267d107
—	WISDOMTREE EMRG MRKT HG DIV ET	131,780	$5.885M	4.1%	$42.09	—	UIUS	97717w315
—	WISDOMTREE JAPAN HEDGED EQUITY	110,900	$5.4M	3.7%	$54.52	—	UIUS	97717w851
—	ALPHA ARCHTCT US QUNTV VAL ETF	185,331	$5.197M	3.6%	$21.37	—	COM	02072l102
—	MADISON SQUARE GARDEN CO CL A	18,494	$5.177M	3.6%	$271.22	—	COM	55825t103
—	CISCO SYSTEMS INC	93,988	$5.143M	3.5%	$24.33	—	COM	17275r102
MKL	MARKEL CORP	4,514	$4.918M	3.4%	$526.07	+99.2%	COM	570535104
BAC	BANK OF AMERICA CORP	167,185	$4.848M	3.3%	$10.31	+137.6%	COM	060505104
—	ALPHABET INC. CLASS C	4,408	$4.764M	3.3%	$572.35	—	COM	02079k107
AAPL	APPLE INC	23,403	$4.631M	3.2%	$18.53	+151.7%	COM	037833100
GLW	CORNING INC	136,195	$4.525M	3.1%	$12.64	+110.6%	COM	219350105
—	PROSHARES SHORT S&P500	169,454	$4.509M	3.1%	$33.61	—	COM	74347b425
—	KKR & CO INC CLASS A	173,095	$4.374M	3.0%	$25.27	—	COM	48251w104
—	ALPHABET INC. CLASS A	4,006	$4.337M	3.0%	$875.83	—	COM	02079k305
—	LIBERTY MEDIA CORP SERIES C LI	101,029	$3.837M	2.6%	$31.11	—	COM	531229607
—	KINDER MORGAN INC	179,025	$3.738M	2.6%	$20.01	—	COM	49456b101
GVAL	CAMBRIA GLOBAL VALUE ETF	153,531	$3.633M	2.5%	$22.58	—	UIUS	132061409
—	ALPHA ARCHTCT INTR QUNTV VAL E	127,818	$3.443M	2.4%	$30.82	—	COM	02072l201
ABT	ABBOTT LABORATORIES	38,483	$3.236M	2.2%	$28.85	+143.4%	COM	002824100
—	ABBVIE INC	43,762	$3.182M	2.2%	$46.39	—	COM	00287y109
—	VANECK VECTORS GOLD MINERS ETF	111,085	$2.839M	2.0%	$27.39	—	UIUS	92189f106
—	NEW RESIDENTIAL INVE REIT	147,385	$2.268M	1.6%	$17.04	—	COM	64828t201
—	ANTERO RESOURCES COR	369,820	$2.045M	1.4%	$8.83	—	COM	03674x106
PETS	PETMED EXPRESS INC	88,970	$1.394M	1.0%	$37.37	-47.4%	COM	716382106
—	COHEN STEERS REIT PREFER	28,063	$606K	0.4%	$19.99	—	COM	19247x100
—	TESLA INC	1,845	$412K	0.3%	$129.86	—	COM	88160r101
—	COUPA SOFTWARE INCORPORA	2,596	$328K	0.2%	$79.08	—	COM	22266l106
—	ALPHA ARCHTCT US QUNTV MTNM ET	9,682	$303K	0.2%	$29.44	—	COM	02072l409
—	LIBERTY MEDIA CORP SERIES C LI	9,915	$277K	0.2%	$14.59	—	COM	531229888
—	SOLAR SENIOR CAPITAL	15,925	$253K	0.2%	$18.28	—	COM	83416m105
—	NORTHWEST NATURAL HOLDIN	3,600	$250K	0.2%	$66.67	—	COM	66765n105
—	BANK OF AMERIC 7.25 PFD CONV S	182	$249K	0.2%	$1191.59	—	CPUS	060505682
—	POWERSHARES S&P 500 XXX NAME C	1,973	$212K	0.1%	$104.41	—	COM	739371813
—	CRIMSON WINE GROUP	12,049	$96,000	0.1%	$8.50	—	COM	22662x100
ARAY	ACCURAY INC	10,000	$38,000	0.0%	$5.05	-20.0%	COM	004397105