MENLO ADVISORS LLC Long-Term Concentrated

Location: Menlo Park, CA

CIK: 0001279708 · Show all filings

Period: Q1 2020 (← Previous) (Next →)

Filing Date: Apr 13, 2020

Total Value: $106M (100.0% shares, 0.0% debt)

Holdings (30)

BRK/B BERKSHIRE HATHAWAY CLASS B 16.6%

Value $17.57M Shares 96,111 Share Price $182.82 * Est. Cost/Share $110.48 Unrealized @ Report Date +92.4%

— SPDR GOLD SHARES ETF 7.9%

Value $8.404M Shares 56,771 Share Price $148.03 Est. Cost/Share $121.16 Unrealized @ Report Date —

MSFT MICROSOFT CORP 5.5%

Value $5.789M Shares 36,706 Share Price $157.71 Est. Cost/Share $26.70 Unrealized @ Report Date +485.5%

— ALPHABET INC. CLASS C 4.7%

Value $4.989M Shares 4,291 Share Price $1162.67 Est. Cost/Share $572.35 Unrealized @ Report Date —

DIS WALT DISNEY CO 4.5%

Value $4.76M Shares 49,283 Share Price $96.59 * Est. Cost/Share $100.82 Unrealized @ Report Date +22.5%

— ALPHABET INC. CLASS A 4.3%

Value $4.557M Shares 3,922 Share Price $1161.91 Est. Cost/Share $875.83 Unrealized @ Report Date —

— PROSHARES SHORT S&P500 4.1%

Value $4.396M Shares 158,954 Share Price $27.66 Est. Cost/Share $33.61 Unrealized @ Report Date —

— KKR & CO INC CLASS A 4.0%

Value $4.196M Shares 178,795 Share Price $23.47 Est. Cost/Share $25.21 Unrealized @ Report Date —

AAPL APPLE INC 3.9%

Value $4.179M Shares 16,437 Share Price $254.24 * Est. Cost/Share $18.53 Unrealized @ Report Date +283.6%

— WISDOMTREE EMRG MRKT HG DIV ET 3.9%

Value $4.152M Shares 128,765 Share Price $32.24 Est. Cost/Share $42.07 Unrealized @ Report Date —

MKL MARKEL CORP 3.8%

Value $3.976M Shares 4,286 Share Price $927.67 * Est. Cost/Share $526.07 Unrealized @ Report Date +117.4%

— VANECK VECTORS GOLD MINERS ETF 3.7%

Value $3.924M Shares 170,350 Share Price $23.03 Est. Cost/Share $25.88 Unrealized @ Report Date —

— CISCO SYSTEMS INC 3.5%

Value $3.709M Shares 94,368 Share Price $39.30 Est. Cost/Share $24.59 Unrealized @ Report Date —

— MADISON SQUARE GARDEN CO CL A 3.1%

Value $3.263M Shares 15,439 Share Price $211.35 Est. Cost/Share $271.22 Unrealized @ Report Date —

— ABBVIE INC 3.0%

Value $3.208M Shares 42,117 Share Price $76.17 Est. Cost/Share $46.39 Unrealized @ Report Date —

— ALPHA ARCHTCT US QUNTV VAL ETF 3.0%

Value $3.165M Shares 174,816 Share Price $18.10 Est. Cost/Share $21.47 Unrealized @ Report Date —

— LIBERTY MEDIA CORP SERIES C LI 2.9%

Value $3.068M Shares 97,034 Share Price $31.62 Est. Cost/Share $31.11 Unrealized @ Report Date —

ABT ABBOTT LABORATORIES 2.6%

Value $2.767M Shares 35,074 Share Price $78.89 * Est. Cost/Share $28.85 Unrealized @ Report Date +161.1%

GLW CORNING INC 2.4%

Value $2.59M Shares 126,120 Share Price $20.54 * Est. Cost/Share $12.64 Unrealized @ Report Date +74.9%

— HOWARD HUGHES CORP 2.4%

Value $2.588M Shares 51,229 Share Price $50.52 Est. Cost/Share $114.41 Unrealized @ Report Date —

— KINDER MORGAN INC 2.4%

Value $2.519M Shares 180,995 Share Price $13.92 Est. Cost/Share $20.05 Unrealized @ Report Date —

— ALPHA ARCHTCT INTR QUNTV VAL E 2.3%

Value $2.448M Shares 117,808 Share Price $20.78 Est. Cost/Share $30.82 Unrealized @ Report Date —

GVAL CAMBRIA GLOBAL VALUE ETF 2.0%

Value $2.114M Shares 137,216 Share Price $15.41 Est. Cost/Share $22.58 Unrealized @ Report Date —

— ROYCE VALUE CF 1.6%

Value $1.725M Shares 178,396 Share Price $9.67 Est. Cost/Share $9.67 Unrealized @ Report Date —

— TESLA INC 0.8%

Value $830K Shares 1,585 Share Price $523.66 Est. Cost/Share $129.86 Unrealized @ Report Date —

— COHEN STEERS REIT PREFER 0.4%

Value $394K Shares 24,503 Share Price $16.08 Est. Cost/Share $19.99 Unrealized @ Report Date —

— COUPA SOFTWARE INCORPORA 0.3%

Value $362K Shares 2,596 Share Price $139.45 Est. Cost/Share $79.08 Unrealized @ Report Date —

— BANK OF AMERIC 7.25 PFD CONV S 0.2%

Value $230K Shares 182 Share Price $1263.74 Est. Cost/Share $1191.59 Unrealized @ Report Date —

— OAKTREE SPECIALTY LENDIN 0.1%

Value $131K Shares 40,740 Share Price $3.22 Est. Cost/Share $3.22 Unrealized @ Report Date —

ARAY ACCURAY INC 0.0%

Value $19,000 Shares 10,000 Share Price $1.90 * Est. Cost/Share $5.05 Unrealized @ Report Date -42.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	96,111	$17.57M	16.6%	$182.82 *	$110.48	+92.4%	COM	084670702
—	SPDR GOLD SHARES ETF	56,771	$8.404M	7.9%	$148.03	$121.16	—	UIUS	78463v107
MSFT	MICROSOFT CORP	36,706	$5.789M	5.5%	$157.71	$26.70	+485.5%	COM	594918104
—	ALPHABET INC. CLASS C	4,291	$4.989M	4.7%	$1162.67	$572.35	—	COM	02079k107
DIS	WALT DISNEY CO	49,283	$4.76M	4.5%	$96.59 *	$100.82	+22.5%	COM	254687106
—	ALPHABET INC. CLASS A	3,922	$4.557M	4.3%	$1161.91	$875.83	—	COM	02079k305
—	PROSHARES SHORT S&P500	158,954	$4.396M	4.1%	$27.66	$33.61	—	COM	74347b425
—	KKR & CO INC CLASS A	178,795	$4.196M	4.0%	$23.47	$25.21	—	COM	48251w104
AAPL	APPLE INC	16,437	$4.179M	3.9%	$254.24 *	$18.53	+283.6%	COM	037833100
—	WISDOMTREE EMRG MRKT HG DIV ET	128,765	$4.152M	3.9%	$32.24	$42.07	—	UIUS	97717w315
MKL	MARKEL CORP	4,286	$3.976M	3.8%	$927.67 *	$526.07	+117.4%	COM	570535104
—	VANECK VECTORS GOLD MINERS ETF	170,350	$3.924M	3.7%	$23.03	$25.88	—	UIUS	92189f106
—	CISCO SYSTEMS INC	94,368	$3.709M	3.5%	$39.30	$24.59	—	COM	17275r102
—	MADISON SQUARE GARDEN CO CL A	15,439	$3.263M	3.1%	$211.35	$271.22	—	COM	55825t103
—	ABBVIE INC	42,117	$3.208M	3.0%	$76.17	$46.39	—	COM	00287y109
—	ALPHA ARCHTCT US QUNTV VAL ETF	174,816	$3.165M	3.0%	$18.10	$21.47	—	COM	02072l102
—	LIBERTY MEDIA CORP SERIES C LI	97,034	$3.068M	2.9%	$31.62	$31.11	—	COM	531229607
ABT	ABBOTT LABORATORIES	35,074	$2.767M	2.6%	$78.89 *	$28.85	+161.1%	COM	002824100
GLW	CORNING INC	126,120	$2.59M	2.4%	$20.54 *	$12.64	+74.9%	COM	219350105
—	HOWARD HUGHES CORP	51,229	$2.588M	2.4%	$50.52	$114.41	—	COM	44267d107
—	KINDER MORGAN INC	180,995	$2.519M	2.4%	$13.92	$20.05	—	COM	49456b101
—	ALPHA ARCHTCT INTR QUNTV VAL E	117,808	$2.448M	2.3%	$20.78	$30.82	—	COM	02072l201
GVAL	CAMBRIA GLOBAL VALUE ETF	137,216	$2.114M	2.0%	$15.41	$22.58	—	UIUS	132061409
—	ROYCE VALUE CF	178,396	$1.725M	1.6%	$9.67	$9.67	—	COM	780910105
—	TESLA INC	1,585	$830K	0.8%	$523.66	$129.86	—	COM	88160r101
—	COHEN STEERS REIT PREFER	24,503	$394K	0.4%	$16.08	$19.99	—	COM	19247x100
—	COUPA SOFTWARE INCORPORA	2,596	$362K	0.3%	$139.45	$79.08	—	COM	22266l106
—	BANK OF AMERIC 7.25 PFD CONV S	182	$230K	0.2%	$1263.74	$1191.59	—	CPUS	060505682
—	OAKTREE SPECIALTY LENDIN	40,740	$131K	0.1%	$3.22	$3.22	—	COM	67401p108
ARAY	ACCURAY INC	10,000	$19,000	0.0%	$1.90 *	$5.05	-42.8%	COM	004397105