MENLO ADVISORS LLC Long-Term Concentrated

Location: Menlo Park, CA

CIK: 0001279708 · Show all filings

Period: Q4 2019 (← Previous) (Next →)

Filing Date: Jan 7, 2020

Total Value: $153M (100.0% shares, 0.0% debt)

Holdings (35)

BRK/B BERKSHIRE HATHAWAY CLASS B 14.4%

Value $21.98M Shares 97,048 Share Price $226.50 * Est. Cost/Share $110.48 Unrealized @ Report Date +96.6%

— SPDR GOLD SHARES ETF 5.3%

Value $8.104M Shares 56,714 Share Price $142.89 Est. Cost/Share $121.16 Unrealized @ Report Date —

MSFT MICROSOFT CORP 5.2%

Value $7.907M Shares 50,141 Share Price $157.70 * Est. Cost/Share $26.70 Unrealized @ Report Date +421.4%

DIS WALT DISNEY CO 4.7%

Value $7.239M Shares 50,052 Share Price $144.63 * Est. Cost/Share $100.82 Unrealized @ Report Date +34.6%

BAC BANK OF AMERICA CORP 4.5%

Value $6.919M Shares 196,455 Share Price $35.22 * Est. Cost/Share $12.43 Unrealized @ Report Date +123.5%

AAPL APPLE INC 4.5%

Value $6.819M Shares 23,223 Share Price $293.63 * Est. Cost/Share $18.53 Unrealized @ Report Date +234.8%

— HOWARD HUGHES CORP 4.4%

Value $6.804M Shares 53,660 Share Price $126.80 Est. Cost/Share $114.41 Unrealized @ Report Date —

— WISDOMTREE JAPAN HEDGED EQUITY 4.0%

Value $6.147M Shares 114,310 Share Price $53.77 Est. Cost/Share $54.50 Unrealized @ Report Date —

— WISDOMTREE EMRG MRKT HG DIV ET 4.0%

Value $6.145M Shares 134,275 Share Price $45.76 Est. Cost/Share $42.07 Unrealized @ Report Date —

— ALPHABET INC. CLASS C 3.8%

Value $5.88M Shares 4,398 Share Price $1336.97 Est. Cost/Share $572.35 Unrealized @ Report Date —

— ALPHA ARCHTCT US QUNTV VAL ETF 3.7%

Value $5.699M Shares 187,361 Share Price $30.42 Est. Cost/Share $21.47 Unrealized @ Report Date —

— MADISON SQUARE GARDEN CO CL A 3.5%

Value $5.408M Shares 18,384 Share Price $294.17 Est. Cost/Share $271.22 Unrealized @ Report Date —

— ALPHABET INC. CLASS A 3.5%

Value $5.345M Shares 3,991 Share Price $1339.26 Est. Cost/Share $875.83 Unrealized @ Report Date —

MKL MARKEL CORP 3.3%

Value $5.08M Shares 4,444 Share Price $1143.11 Est. Cost/Share $526.07 Unrealized @ Report Date +116.5%

— KKR & CO INC CLASS A 3.3%

Value $5.055M Shares 173,300 Share Price $29.17 Est. Cost/Share $25.27 Unrealized @ Report Date —

— LIBERTY MEDIA CORP SERIES C LI 3.2%

Value $4.839M Shares 100,539 Share Price $48.13 Est. Cost/Share $31.11 Unrealized @ Report Date —

— CISCO SYSTEMS INC 3.0%

Value $4.557M Shares 95,018 Share Price $47.96 Est. Cost/Share $24.59 Unrealized @ Report Date —

— PROSHARES SHORT S&P500 2.7%

Value $4.068M Shares 169,454 Share Price $24.01 Est. Cost/Share $33.61 Unrealized @ Report Date —

— KINDER MORGAN INC 2.6%

Value $3.997M Shares 188,805 Share Price $21.17 Est. Cost/Share $20.05 Unrealized @ Report Date —

GLW CORNING INC 2.5%

Value $3.875M Shares 133,120 Share Price $29.11 * Est. Cost/Share $12.64 Unrealized @ Report Date +93.4%

— ABBVIE INC 2.5%

Value $3.861M Shares 43,612 Share Price $88.53 Est. Cost/Share $46.39 Unrealized @ Report Date —

— ALPHA ARCHTCT INTR QUNTV VAL E 2.5%

Value $3.75M Shares 127,198 Share Price $29.48 Est. Cost/Share $30.82 Unrealized @ Report Date —

GVAL CAMBRIA GLOBAL VALUE ETF 2.4%

Value $3.67M Shares 153,506 Share Price $23.91 Est. Cost/Share $22.58 Unrealized @ Report Date —

ABT ABBOTT LABORATORIES 2.2%

Value $3.294M Shares 37,924 Share Price $86.86 * Est. Cost/Share $28.85 Unrealized @ Report Date +161.0%

— VANECK VECTORS GOLD MINERS ETF 2.1%

Value $3.259M Shares 111,315 Share Price $29.28 Est. Cost/Share $27.39 Unrealized @ Report Date —

— TESLA INC 0.5%

Value $771K Shares 1,845 Share Price $417.89 Est. Cost/Share $129.86 Unrealized @ Report Date —

— COHEN STEERS REIT PREFER 0.4%

Value $672K Shares 28,263 Share Price $23.78 Est. Cost/Share $19.99 Unrealized @ Report Date —

— COUPA SOFTWARE INCORPORA 0.2%

Value $379K Shares 2,596 Share Price $145.99 Est. Cost/Share $79.08 Unrealized @ Report Date —

— ALPHA ARCHTCT US QUNTV MTNM ET 0.2%

Value $313K Shares 9,682 Share Price $32.33 Est. Cost/Share $29.44 Unrealized @ Report Date —

— LIBERTY MEDIA CORP SERIES C LI 0.2%

Value $291K Shares 9,864 Share Price $29.50 Est. Cost/Share $14.59 Unrealized @ Report Date —

— SOLAR SENIOR CAPITAL 0.2%

Value $280K Shares 15,925 Share Price $17.58 Est. Cost/Share $18.28 Unrealized @ Report Date —

— BANK OF AMERIC 7.25 PFD CONV S 0.2%

Value $263K Shares 182 Share Price $1445.05 Est. Cost/Share $1191.59 Unrealized @ Report Date —

— POWERSHARES S&P 500 XXX NAME C 0.1%

Value $228K Shares 1,973 Share Price $115.56 Est. Cost/Share $104.41 Unrealized @ Report Date —

— CRIMSON WINE GROUP 0.1%

Value $88,000 Shares 11,986 Share Price $7.34 Est. Cost/Share $8.50 Unrealized @ Report Date —

ARAY ACCURAY INC 0.0%

Value $28,000 Shares 10,000 Share Price $2.80 Est. Cost/Share $5.05 Unrealized @ Report Date -45.1%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	97,048	$21.98M	14.4%	$226.50 *	$110.48	+96.6%	COM	084670702
—	SPDR GOLD SHARES ETF	56,714	$8.104M	5.3%	$142.89	$121.16	—	UIUS	78463v107
MSFT	MICROSOFT CORP	50,141	$7.907M	5.2%	$157.70 *	$26.70	+421.4%	COM	594918104
DIS	WALT DISNEY CO	50,052	$7.239M	4.7%	$144.63 *	$100.82	+34.6%	COM	254687106
BAC	BANK OF AMERICA CORP	196,455	$6.919M	4.5%	$35.22 *	$12.43	+123.5%	COM	060505104
AAPL	APPLE INC	23,223	$6.819M	4.5%	$293.63 *	$18.53	+234.8%	COM	037833100
—	HOWARD HUGHES CORP	53,660	$6.804M	4.4%	$126.80	$114.41	—	COM	44267d107
—	WISDOMTREE JAPAN HEDGED EQUITY	114,310	$6.147M	4.0%	$53.77	$54.50	—	UIUS	97717w851
—	WISDOMTREE EMRG MRKT HG DIV ET	134,275	$6.145M	4.0%	$45.76	$42.07	—	UIUS	97717w315
—	ALPHABET INC. CLASS C	4,398	$5.88M	3.8%	$1336.97	$572.35	—	COM	02079k107
—	ALPHA ARCHTCT US QUNTV VAL ETF	187,361	$5.699M	3.7%	$30.42	$21.47	—	COM	02072l102
—	MADISON SQUARE GARDEN CO CL A	18,384	$5.408M	3.5%	$294.17	$271.22	—	COM	55825t103
—	ALPHABET INC. CLASS A	3,991	$5.345M	3.5%	$1339.26	$875.83	—	COM	02079k305
MKL	MARKEL CORP	4,444	$5.08M	3.3%	$1143.11	$526.07	+116.5%	COM	570535104
—	KKR & CO INC CLASS A	173,300	$5.055M	3.3%	$29.17	$25.27	—	COM	48251w104
—	LIBERTY MEDIA CORP SERIES C LI	100,539	$4.839M	3.2%	$48.13	$31.11	—	COM	531229607
—	CISCO SYSTEMS INC	95,018	$4.557M	3.0%	$47.96	$24.59	—	COM	17275r102
—	PROSHARES SHORT S&P500	169,454	$4.068M	2.7%	$24.01	$33.61	—	COM	74347b425
—	KINDER MORGAN INC	188,805	$3.997M	2.6%	$21.17	$20.05	—	COM	49456b101
GLW	CORNING INC	133,120	$3.875M	2.5%	$29.11 *	$12.64	+93.4%	COM	219350105
—	ABBVIE INC	43,612	$3.861M	2.5%	$88.53	$46.39	—	COM	00287y109
—	ALPHA ARCHTCT INTR QUNTV VAL E	127,198	$3.75M	2.5%	$29.48	$30.82	—	COM	02072l201
GVAL	CAMBRIA GLOBAL VALUE ETF	153,506	$3.67M	2.4%	$23.91	$22.58	—	UIUS	132061409
ABT	ABBOTT LABORATORIES	37,924	$3.294M	2.2%	$86.86 *	$28.85	+161.0%	COM	002824100
—	VANECK VECTORS GOLD MINERS ETF	111,315	$3.259M	2.1%	$29.28	$27.39	—	UIUS	92189f106
—	TESLA INC	1,845	$771K	0.5%	$417.89	$129.86	—	COM	88160r101
—	COHEN STEERS REIT PREFER	28,263	$672K	0.4%	$23.78	$19.99	—	COM	19247x100
—	COUPA SOFTWARE INCORPORA	2,596	$379K	0.2%	$145.99	$79.08	—	COM	22266l106
—	ALPHA ARCHTCT US QUNTV MTNM ET	9,682	$313K	0.2%	$32.33	$29.44	—	COM	02072l409
—	LIBERTY MEDIA CORP SERIES C LI	9,864	$291K	0.2%	$29.50	$14.59	—	COM	531229888
—	SOLAR SENIOR CAPITAL	15,925	$280K	0.2%	$17.58	$18.28	—	COM	83416m105
—	BANK OF AMERIC 7.25 PFD CONV S	182	$263K	0.2%	$1445.05	$1191.59	—	CPUS	060505682
—	POWERSHARES S&P 500 XXX NAME C	1,973	$228K	0.1%	$115.56	$104.41	—	COM	739371813
—	CRIMSON WINE GROUP	11,986	$88,000	0.1%	$7.34	$8.50	—	COM	22662x100
ARAY	ACCURAY INC	10,000	$28,000	0.0%	$2.80	$5.05	-45.1%	COM	004397105