CIK: 0001279708
Total reported value
$185.6M
Reporting period: 2025-06-30 · Number of holdings: 29
MENLO ADVISORS LLC disclosed 29 holdings in its latest 13F filing for the period ending 2025-06-30, with total reported value of $185.6M and a quarterly turnover rate of 0.0%.
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Menlo Advisors LLC's disclosed holdings carry a Herfindahl concentration index of 0.063 — mathematically equivalent to about 16 equally-sized positions, well below its 29 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.93), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 63% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
No holding changes this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 13.80% | — | -1.51% | |
| 2 | ✓ | SPDR Gold Shares | Stock-Other | 7.97% | — | -20.59% | |
| 3 | ✓ | Alphabet Inc. | Stock-Other | 7.40% | — | -1.02% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 7.28% | — | -2.21% | |
| 5 | ✓ | VanEck China Semiconductor ETF | ETF-Emerging Markets | 6.63% | — | -1.21% | |
| 6 | ✓ | Alphabet Inc. | Stock-Other | 6.03% | — | -1.24% | |
| 7 | ✓ | Alpha Archtct US Quntv Val ETF | ETF-Other | 5.90% | — | -1.04% | |
| 8 | AAPL | Apple INC | Stock-Tech | 5.86% | — | -1.85% | |
| 9 | ABT | Abbott Laboratories | Stock-Healthcare | 4.95% | — | -2.10% | |
| 10 | ✓ | KKR & Co. Inc. | Stock-Other | 3.88% | — | -2.87% | |
| 11 | ✓ | AbbVie Inc. | Stock-Other | 3.83% | — | -1.29% | |
| 12 | ✓ | Cisco Systems, Inc. | Stock-Other | 3.51% | — | -1.24% | |
| 13 | ✓ | Global X Mlp And Energy Infras | Stock-Other | 3.40% | — | -1.66% | |
| 14 | ✓ | Tesla, Inc. | Stock-Other | 3.28% | — | — | |
| 15 | LMT | Lockheed Martin CORP | Stock-Industrials | 2.83% | — | -1.73% | |
| 16 | ✓ | Royalty Pharma PLC | Stock-Other | 2.55% | — | -1.43% | |
| 17 | ✓ | Sprott Uranium Miners ETF | ETF-Other | 2.24% | — | -2.60% | |
| 18 | MEMX | Matthews Em Ex China Active | ETF-Emerging Markets | 2.18% | — | -1.91% | |
| 19 | ✓ | Sprott Physical Silver Tr Unit | Stock-Other | 1.67% | — | — | |
| 20 | RVT | Royce Small-cap Trust INC | Stock-Other | 1.58% | — | -2.89% | |
| 21 | ✓ | WisdomTree US Quality Dividend | Stock-Other | 1.26% | — | -0.27% | |
| 22 | ✓ | Howard Hughes CORP | Stock-Other | 0.54% | — | -3.04% | |
| 23 | ✓ | Spdr S&P 500 Etf Tr Put Option | ETF-Large Cap & Growth | 0.45% | — | -98.00% | |
| 24 | FNDF | Schwab Fndmn Intl Lrg Co ETF | ETF-Other | 0.33% | — | — | |
| 25 | ✓ | Sprott Physical Gold Etv | Stock-Other | 0.16% | — | — | |
| 26 | ✓ | CrowdStrike Holdings, Inc. | Stock-Other | 0.15% | — | — | |
| 27 | HD | Home Depot INC | Stock-Consumer Disc | 0.13% | — | — | |
| 28 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.12% | — | — | |
| 29 | ✓ | Stock-Other | 0.09% | — | — |
Performance for Q3 2026
-1.2%
Performance Last 4 Quarters
-1.2%
Based on 4 months of available history
Based on 55% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2025-06-30 | 29 | $185.6M | 0 | |
| 2025-03-31 | 27 | $210.3M | 100 | |
| 2024-12-31 | 29 | $196.0M | 0 | |
| 2024-09-30 | 29 | $194.3M | 0 | |
| 2024-06-30 | 32 | $180.2M | 0 | |
| 2024-03-31 | 29 | $174.7M | 0 | |
| 2023-12-31 | 28 | $162.5M | 0 | |
| 2023-09-30 | 31 | $152.2M | 0 | |
| 2023-06-30 | 31 | $158.7M | 0 | |
| 2023-03-31 | 29 | $145.7M | 0 | |
| 2022-12-31 | 28 | $133.1M | 0 | |
| 2022-09-30 | 29 | $142.6M | 0 | |
| 2022-06-30 | 32 | $150.8M | 0 | |
| 2022-03-31 | 37 | $189.1M | 0 | |
| 2021-12-31 | 45 | $201.2M | 0 | |
| 2021-09-30 | 42 | $189.2M | 0 | |
| 2021-06-30 | 42 | $185.5M | 13 | |
| 2021-03-31 | 38 | $168.1M | 17 | |
| 2020-12-31 | 39 | $151.0M | 19 | |
| 2020-09-30 | 35 | $127.5M | 20 | |
| 2020-06-30 | 36 | $128.0M | 46 | |
| 2020-03-31 | 30 | $106.0M | 41 | |
| 2019-12-31 | 35 | $153.0M | 10 | |
| 2019-09-30 | 36 | $143.0M | 9 | |
| 2019-06-30 | 39 | $145.1M | 13 | |
| 2019-03-31 | 39 | $140.4M | 21 | |
| 2018-12-31 | 37 | $128.7M | 24 | |
| 2018-09-30 | 41 | $148.1M | 15 | |
| 2018-06-30 | 40 | $135.9M | 16 | |
| 2018-03-31 | 42 | $138.2M | 17 | |
| 2017-12-31 | 43 | $138.2M | 9 | |
| 2017-09-30 | 43 | $131.5M | 13 | |
| 2017-06-30 | 44 | $136.0M | 6 | |
| 2017-03-31 | 47 | $132.9M | 14 | |
| 2016-12-31 | 43 | $124.4M | 16 | |
| 2016-09-30 | 43 | $124.9M | 7 | |
| 2016-06-30 | 43 | $117.7M | 36 | |
| 2016-03-31 | 38 | $108.9M | 20 | |
| 2015-12-31 | 39 | $113.7M | 17 | |
| 2015-09-30 | 36 | $127.3M | 33 | |
| 2015-06-30 | 39 | $143.0M | 15 | |
| 2015-03-31 | 37 | $140.0M | 12 | |
| 2014-12-31 | 36 | $140.7M | 12 | |
| 2014-09-30 | 36 | $137.8M | 17 | |
| 2014-06-30 | 37 | $139.4M | 14 | |
| 2014-03-31 | 34 | $133.2M | 24 | |
| 2013-12-31 | 33 | $134.2M | 14 | |
| 2013-09-30 | 35 | $128.5M | 49 | |
| 2013-06-30 | 32 | $118.6M | 0 |
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2025-06-30 | 2025-08-06 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-06 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-18 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-19 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-12 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-15 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-13 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-15 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-20 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-28 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-16 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-30 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-10 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-17 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-13 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-07 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-08 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-17 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-10 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-09 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-10 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-11 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-12 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-13 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-23 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-20 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-12 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-21 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-15 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-12-07 | Amendment | View on EDGAR |
| 2015-06-30 | 2015-07-15 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-12-07 | Amendment | View on EDGAR |
| 2015-03-31 | 2015-04-17 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-12-07 | Amendment | View on EDGAR |
| 2014-12-31 | 2015-01-16 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2015-12-07 | Amendment | View on EDGAR |
| 2014-09-30 | 2014-10-30 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2015-12-07 | Amendment | View on EDGAR |
| 2014-06-30 | 2014-07-16 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2015-12-07 | Amendment | View on EDGAR |
| 2014-03-31 | 2014-04-22 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2015-12-07 | Amendment | View on EDGAR |
| 2013-12-31 | 2014-01-10 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2015-12-07 | Amendment | View on EDGAR |
| 2013-09-30 | 2013-10-17 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-18 | 13F-HR | View on EDGAR |
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