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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 (2016Q4)
Portfolio Summary: 43 holdings with a total value of $124,416,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 BERKSHIRE HATHAWAY INC DEL 105,943 17,266,000 13.88%
2 BANK AMER CORP 327,240 7,232,000 5.81%
3 LIBERTY MEDIA CORP SERIES C 207,458 6,499,000 5.22%
4 MICROSOFT CORP 92,551 5,751,000 4.62%
5 MARKEL CORP 6,310 5,707,000 4.59%
6 The Howard Hughes Corp. 47,277 5,394,000 4.34%
7 ALLEGHANY CORP 8,811 5,358,000 4.31%
8 Cisco Systems Inc 172,033 5,198,000 4.18%
9 SPDR GOLD TRUST 46,659 5,114,000 4.11%
10 AMERICAN INTL GROUP INC 75,713 4,944,000 3.97%
11 AbbVie Inc 74,073 4,638,000 3.73%
12 VALUESHARES U S QUANTITATIVE V 187,100 4,630,000 3.72%
13 VODAFONE GROUP PLC NEW 161,972 3,957,000 3.18%
14 ProShares Short S&P 500 Ne 101,954 3,725,000 2.99%
15 LIBERTY M SIRIUSXM C 108,289 3,673,000 2.95%
16 CORNING INC 146,040 3,544,000 2.85%
17 ALPHABET INC 4,500 3,473,000 2.79%
18 ALAPHABET INC 4,230 3,352,000 2.69%
19 CAMBRIA ETF TR 158,011 3,191,000 2.56%
20 DISCOVERY COMMUNICATNS NEW 116,060 3,108,000 2.50%
21 APPLE INC 25,758 2,983,000 2.40%
22 QUALCOMM INC 42,220 2,752,000 2.21%
23 Vaneck Vectors Gold Miners ETF 105,865 2,214,000 1.78%
24 ISHARES TR 18,720 1,964,000 1.58%
25 ABBOTT LABS 48,417 1,859,000 1.49%
26 SPDR NUVEEN BARCLAYS XXX REVER 37,311 1,788,000 1.44%
27 ISHARES 5-10 YEAR INVESTMENT GRADE CORPORATE BOND ETF 5,660 612,000 0.49%
28 Tesla Motors, Inc. 2,690 574,000 0.46%
29 VALUESHARES INTRNTNL QNTV VAL 19,985 513,000 0.41%
30 BLACKROCK CALIFORNIA MUN 33,770 507,000 0.41%
31 TRINET GROUP INC 16,100 412,000 0.33%
32 SOLAR SR CAP LTD 19,540 321,000 0.26%
33 WISDOMTREE FUNDAMENTAL US SHOR 5,880 295,000 0.24%
34 GUGGENHEIM S&P 500 EQUAL WEIGH 3,350 290,000 0.23%
35 DUFF & PHELPS UTILITY & 27,245 257,000 0.21%
36 ISHARES CORE 1 5 YEAR USD BOND 5,000 250,000 0.20%
37 NORTHWEST NAT GAS CO 4,000 239,000 0.19%
38 COHEN STEERS REIT PREFER 12,178 232,000 0.19%
39 LIBERTY BRAVES GR C 10,665 219,000 0.18%
40 CRIMSON WINE GROUP 12,905 120,000 0.10%
41 VEREIT Inc 12,787 108,000 0.09%
42 NEW YORK REIT INC 10,632 107,000 0.09%
43 ACCURAY INCORPORATED COM 10,000 46,000 0.04%

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001279708-17-000003, filed 2017.01.23).

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.