MENLO ADVISORS LLC

CIK

1279708

Location

MENLO PARK, CA

Portfolio Value

Small $184,741,012

Diversification

Diversified

Filing Date

Global Rank

#5,890 / 8,120 ▼ 164 · as of Jun 2025

Top Industry

Insurance - Diversified 19.8%

3Y Alpha vs SPY

+5.2%

Period ended 1 year ago

Filed Aug 6, 2025 · 1y

22 quarters · since Mar 2020

Clone Performance

Sep 2023–Jan 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+71.6%

SPY

+55.5%

Annualised alpha

+5.2%

Max drawdown

−14.2%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends. Captured split ratios restate closes onto one basis; only an unusable ratio can exclude earlier closes for that listing. It tracks 100% of reported value on average across 9 quarters.MENLO ADVISORS LLC has stopped filing, so the simulation ends in Jan 2026 — where its last reported portfolio went stale — rather than trading that portfolio forward to today. Past performance does not predict future results.

Portfolio Concentration

27 tracked positions · as of Jun 30, 2025 · Δ vs Mar 31, 2025

Top Position

13.9%

−2.3 pts

Top 5

49.3%

−2.3 pts

Top 10

73.8%

−3.2 pts

HHI

727

Diversified−65

Portfolio Trend

22 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2025

Sector	% Portfolio	Value	Positions
Unclassified	30.1%	$55,675,838	9
Financial Services	21.2%	$39,151,913	5
Technology	16.9%	$31,193,395	4
Communication Services	13.5%	$24,914,590	1
Healthcare	11.4%	$21,017,546	3
Consumer Cyclical	3.5%	$6,532,585	3
Industrials	2.8%	$5,254,323	1
Real Estate	0.5%	$1,000,822	1

Last Quarter's Activity

Export CSV

Jun 30, 2025 vs Mar 31, 2025

Added To

Positions the filer increased

No qualifying positions this quarter.

Trimmed

Positions the filer reduced

19 positions

Ticker	Company	Δ Shares	Shares	Value
GLD	Spdr Gold Trust	−12,578	48,503	$14,785,169
RVT	Royce Small-Cap Trust, Inc.	−5,802	195,242	$2,938,392
AFK	VanEck Africa Index ETF	−2,900	236,215	$12,297,352
AAAA	Amplius Aggressive Asset Allocation ETF	−2,615	248,740	$10,947,047
ADVE	Matthews Asia Dividend Active ETF	−2,405	123,590	$4,044,977
BDBT	Bluemonte Core Bond ETF	−2,316	86,804	$4,160,515
RPRX	Royalty Pharma plc	−1,910	131,325	$4,731,639
AGNG	Global X Funds Global X Aging Population ETF	−1,695	100,697	$6,309,674
GOOGL	Alphabet Inc.	−1,600	140,866	$24,914,590
KKR	KKR & Co. Inc.	−1,600	54,175	$7,206,900
ABT	Abbott Laboratories	−1,450	67,536	$9,185,571
CSCO	Cisco Systems, Inc.	−1,175	93,944	$6,517,834
AAPL	Apple Inc.	−1,000	53,001	$10,874,215
BRK-B	Berkshire Hathaway Inc	−810	52,702	$25,601,050
MSFT	Microsoft Corp	−615	27,172	$13,515,624
ABBV	AbbVie Inc.	−500	38,252	$7,100,336
HHH	Howard Hughes Holdings Inc.	−465	14,827	$1,000,822
LMT	Lockheed Martin Corp	−200	11,345	$5,254,323
AGGY	WisdomTree Yield Enhanced U.S. Aggregate Bond Fund	−75	27,935	$2,339,276
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
PSLV	Sprott Physical Silver Trust	253,380	$3,101,371
CRWD	CrowdStrike Holdings, Inc.	561	$285,722
AMZN	Amazon Com Inc	1,000	$219,390
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
XLBI	State Street Materials Select Sector SPDR Premium Income ETF	60,775	$5,679
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

27 tracked positions · $184,741,012 total · filing declares 29 positions · $185,571 · as of Jun 30, 2025

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	52,702	-810	$25,601,050	−10.2%	13.86%
GOOGL	Alphabet Inc. Communication Services	Reduced	140,866	-1,600	$24,914,590	+12.5%	13.49%
GLD	Spdr Gold Trust	Reduced	48,503	-12,578	$14,785,169	−16.0%	8.00%
MSFT	Microsoft Corp Technology	Reduced	27,172	-615	$13,515,624	+29.6%	7.32%
AFK	VanEck Africa Index ETF	Reduced	236,215	-2,900	$12,297,352	+11.9%	6.66%
AAAA	Amplius Aggressive Asset Allocation ETF	Reduced	248,740	-2,615	$10,947,047	+2.1%	5.93%
AAPL	Apple Inc. Technology	Reduced	53,001	-1,000	$10,874,215	−9.3%	5.89%
ABT	Abbott Laboratories Healthcare	Reduced	67,536	-1,450	$9,185,571	+0.4%	4.97%
KKR	KKR & Co. Inc. Financial Services	Reduced	54,175	-1,600	$7,206,900	+11.8%	3.90%
ABBV	AbbVie Inc. Healthcare	Reduced	38,252	-500	$7,100,336	−12.6%	3.84%
CSCO	Cisco Systems, Inc. Technology	Reduced	93,944	-1,175	$6,517,834	+11.0%	3.53%
AGNG	Global X Funds Global X Aging Population ETF	Reduced	100,697	-1,695	$6,309,674	−3.4%	3.42%
TSLA	Tesla, Inc. Consumer Cyclical	Held	19,140	0	$6,080,012	+22.6%	3.29%
LMT	Lockheed Martin Corp Industrials	Reduced	11,345	-200	$5,254,323	+1.9%	2.84%
RPRX	Royalty Pharma plc Healthcare	Reduced	131,325	-1,910	$4,731,639	+14.1%	2.56%
BDBT	Bluemonte Core Bond ETF	Reduced	86,804	-2,316	$4,160,515	+43.9%	2.25%
ADVE	Matthews Asia Dividend Active ETF	Reduced	123,590	-2,405	$4,044,977	+14.7%	2.19%
PSLV	Sprott Physical Silver Trust Financial Services	NEW	253,380	NEW	$3,101,371	NEW	1.68%
RVT	Royce Small-Cap Trust, Inc. Financial Services	Reduced	195,242	-5,802	$2,938,392	+2.6%	1.59%
AGGY	WisdomTree Yield Enhanced U.S. Aggregate Bond Fund	Reduced	27,935	-75	$2,339,276	+4.6%	1.27%
HHH	Howard Hughes Holdings Inc. Real Estate	Reduced	14,827	-465	$1,000,822	−11.7%	0.54%
FNDA	Schwab Fundamental U.S. Small Company ETF	Held	15,403	0	$616,428	+10.7%	0.33%
PHYS	Sprott Physical Gold Trust Financial Services	Held	12,000	0	$304,200	+5.4%	0.16%
CRWD	CrowdStrike Holdings, Inc. Technology	NEW	561	NEW	$285,722	NEW	0.15%
HD	Home Depot, Inc. Consumer Cyclical	Held	636	0	$233,183	+0.0%	0.13%
AMZN	Amazon Com Inc Consumer Cyclical	NEW	1,000	NEW	$219,390	NEW	0.12%
AAPD	Direxion Shares ETF Trust Direxion Daily AAPL Bear 1X ETF	Held	10,000	0	$175,400	+2.8%	0.09%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.