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Institutional Investment Manager
MENLO ADVISORS LLC
MENLO ADVISORS LLC (CIK: 0001279708), located at 659 Oak Grove Avenue, Menlo Park, CA. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q3)
Portfolio Summary: 36 holdings with a total value of $127,280,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 BERKSHIRE HATHAWAY INC DEL 116,038 15,131,000 11.89%
2 Proshares Tr Pshs Shrt S&P 500 446,560 10,052,000 7.90%
3 MARKEL CORP 9,139 7,328,000 5.76%
4 AMERICAN INTL GROUP INC 113,983 6,476,000 5.09%
5 MICROSOFT CORP 134,549 5,955,000 4.68%
6 The Howard Hughes Corp. 51,500 5,909,000 4.64%
7 BANK AMER CORP 364,425 5,677,000 4.46%
8 Cisco Systems Inc 189,841 4,983,000 3.91%
9 MEDTRONIC PLC COM 73,386 4,912,000 3.86%
10 ALLEGHANY CORP 10,061 4,709,000 3.70%
11 AbbVie Inc 82,496 4,488,000 3.53%
12 YAHOO INC 148,037 4,279,000 3.36%
13 DILLARDS INC 46,330 4,048,000 3.18%
14 VODAFONE GROUP PLC NEW 127,052 4,032,000 3.17%
15 SPDR GOLD TRUST 32,734 3,497,000 2.75%
16 APPLE INC 31,086 3,428,000 2.69%
17 CAMBRIA ETF TR 182,306 3,336,000 2.62%
18 ALPHABET INC 5,280 3,212,000 2.52%
19 LEUCADIA NATIONAL CO 144,511 2,927,000 2.30%
20 CORNING INC 163,175 2,793,000 2.19%
21 ALAPHABET INC 4,319 2,757,000 2.17%
22 QUALCOMM INC 49,685 2,669,000 2.10%
23 H C P INC REIT 69,529 2,589,000 2.03%
24 ABBOTT LABS 54,581 2,195,000 1.72%
25 SPDR NUVEEN BARCLAYS XXX REVER 87,050 2,120,000 1.67%
26 LIBERTY MEDIA CORP 59,335 2,044,000 1.61%
27 ISHARES TR 18,720 1,968,000 1.55%
28 Big Five Sporting 138,473 1,437,000 1.13%
29 Tesla Motors, Inc. 2,690 668,000 0.52%
30 ISHARES 5-10 YEAR INVESTMENT GRADE CORPORATE BOND ETF 5,370 583,000 0.46%
31 SOLAR SR CAP LTD 21,665 308,000 0.24%
32 ISHARES CORE 1 5 YEAR USD BOND 2,500 250,000 0.20%
33 ACCURAY INCORPORATED COM 37,000 184,000 0.14%
34 CRIMSON WINE GROUP 14,598 132,000 0.10%
35 NEW YORK REIT INC 10,632 106,000 0.08%
36 VEREIT Inc 12,787 98,000 0.08%

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001279708-15-000007, filed 2015.10.15).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.