MENLO ADVISORS LLC

CIK

1279708

Location

MENLO PARK, CA

Portfolio Value

Small $227,932,763

Diversification

Diversified

Filing Date

Global Rank

#6,098 / 8,827 ▲ 683

Top Industry

Internet Content & Information 27.0%

Period ended 4 months ago

Filed Sep 10, 2026 · 58d

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 72.1% of the book (60%+)

Turnover

Low turnover

6.2% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 22.0 quarters (12+), a floor since 76.4% of the book was already held when coverage starts

Closest benchmark: the Nasdaq-100 as of 2026-06-30, active share 77.4%; sector active share 35.4% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

30 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

19.1%

−4.2 pts

Top 5

49.7%

−21.9 pts

Top 10

72.1%

−23.3 pts

HHI

786

Diversified−497

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	29.2%	$66,527,662	9
Communication Services	19.1%	$43,513,367	2
Technology	15.5%	$35,353,386	6
Financial Services	15.2%	$34,611,082	4
Healthcare	12.4%	$28,223,712	4
Consumer Cyclical	3.7%	$8,512,928	3
Industrials	2.6%	$5,953,549	1
Basic Materials	2.3%	$5,237,077	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

3 positions

Ticker	Company	Δ Shares	Shares	Value
MLPX	Global X MLP and Energy Infrastructure ETF	+16,620	115,872	$8,535,131
ABT	Abbott Laboratories	+723	67,919	$6,162,970
URNM		+370	86,674	$4,558,185
No positions match the current search.

Trimmed

Positions the filer reduced

15 positions

Ticker	Company	Δ Shares	Shares	Value
GDX	VanEck Gold Miners ETF	−61,874	165,992	$12,524,096
GOOGL	Alphabet Inc.	−5,225	52,230	$18,665,435
GOOG	Alphabet Inc.	−3,668	70,325	$24,847,932
DGRW	WisdomTree U.S. Quality Dividend Growth Fund	−1,605	25,755	$2,462,693
QVAL	Alpha Architect U.S. Quantitative Value ETF	−1,000	240,365	$13,328,239
KKR	KKR & Co. Inc.	−705	45,675	$4,192,051
RPRX	Royalty Pharma plc	−700	126,940	$7,117,525
MU	Micron Technology Inc	−670	500	$577,145
GLD	Spdr Gold Trust	−340	47,353	$17,443,898
PSLV	Sprott Physical Silver Trust	−250	251,710	$4,749,767
BRK-B	Berkshire Hathaway Inc	−132	50,575	$25,307,224
MSFT	Microsoft Corp	−105	26,282	$9,803,711
AAPL	Apple Inc.	−60	47,097	$13,627,987
MEMX	Matthews Emerging Markets ex China Active ETF	−10	126,030	$6,296,206
LMT	Lockheed Martin Corp	−1	11,686	$5,953,549
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
CAI	Caris Life Sciences, Inc.	300,518	$5,355,230
CF	CF Industries Holdings, Inc.	48,375	$5,237,077
INTC	Intel Corp	2,455	$342,791
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
RVT	Royce Small-Cap Trust, Inc.	180,126	$2,990,091
HHH	Howard Hughes Holdings Inc.	11,777	$939
SPY	Spdr S&P 500 ETF Trust	1,500	$575
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

30 tracked positions · $227,932,763 total · filing declares 30 positions · $227,921 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	50,575	-132	$25,307,224	+4.2%	26+	before history	11.10%
GOOG	Alphabet Inc. Communication Services	Reduced	70,325	-3,668	$24,847,932	+17.1%	26+	before history	10.90%
GOOGL	Alphabet Inc. Communication Services	Reduced	52,230	-5,225	$18,665,435	+13.0%	26+	before history	8.19%
GLD	Spdr Gold Trust	Reduced	47,353	-340	$17,443,898	−15.0%	26+	before history	7.65%
AAPL	Apple Inc. Technology	Reduced	47,097	-60	$13,627,987	+13.9%	26+	before history	5.98%
QVAL	Alpha Architect U.S. Quantitative Value ETF	Reduced	240,365	-1,000	$13,328,239	+5.9%	26+	before history	5.85%
GDX	VanEck Gold Miners ETF	Reduced	165,992	-61,874	$12,524,096	−40.1%	26+	before history	5.49%
CSCO	Cisco Systems, Inc. Technology	Held	90,019	0	$10,573,631	+51.4%	26+	before history	4.64%
MSFT	Microsoft Corp Technology	Reduced	26,282	-105	$9,803,711	+76725.6%	26+	before history	4.30%
ABBV	AbbVie Inc. Healthcare	Held	38,102	0	$9,587,987	+15.7%	26+	before history	4.21%
MLPX	Global X MLP and Energy Infrastructure ETF	Added	115,872	+16,620	$8,535,131	+141986.4%	9	unpriced	3.74%
TSLA	Tesla, Inc. Consumer Cyclical	Held	19,140	0	$8,050,284	+93431.8%	26+	before history	3.53%
RPRX	Royalty Pharma plc Healthcare	Reduced	126,940	-700	$7,117,525	+144213.2%	9	$27.72	3.12%
MEMX	Matthews Emerging Markets ex China Active ETF	Reduced	126,030	-10	$6,296,206	+25.3%	8	$30.44	2.76%
ABT	Abbott Laboratories Healthcare	Added	67,919	+723	$6,162,970	+73111.8%	26+	before history	2.70%
LMT	Lockheed Martin Corp Industrials	Reduced	11,686	-1	$5,953,549	+105235.3%	14	$467.01	2.61%
CAI	Caris Life Sciences, Inc. Healthcare	NEW	300,518	NEW	$5,355,230	NEW	1	$17.90	2.35%
CF	CF Industries Holdings, Inc. Basic Materials	NEW	48,375	NEW	$5,237,077	NEW	1	$117.86	2.30%
PSLV	Sprott Physical Silver Trust Financial Services	Reduced	251,710	-250	$4,749,767	−22.7%	5	$11.33	2.08%
URNM		Added	86,674	+370	$4,558,185	+96125.1%	18	unpriced	2.00%
KKR	KKR & Co. Inc. Financial Services	Reduced	45,675	-705	$4,192,051	+70807.5%	26+	before history	1.84%
DGRW	WisdomTree U.S. Quality Dividend Growth Fund	Reduced	25,755	-1,605	$2,462,693	+2.5%	25	unpriced	1.08%
FNDF	Schwab Fundamental International Equity ETF	Held	23,846	0	$1,258,114	+7.8%	9	unpriced	0.55%
MU	Micron Technology Inc Technology	Reduced	500	-670	$577,145	+173216.8%	3	$229.44	0.25%
CRWD	CrowdStrike Holdings, Inc. Technology	Held	561	0	$428,121	+163305.0%	5	$433.57	0.19%
PHYS	Sprott Physical Gold Trust Financial Services	Held	12,000	0	$362,040	−14.9%	9	$18.14	0.16%
INTC	Intel Corp Technology	NEW	2,455	NEW	$342,791	NEW	1	$101.12	0.15%
AMZN	Amazon Com Inc Consumer Cyclical	Held	1,000	0	$238,340	+14.4%	5	$197.89	0.10%
HD	Home Depot, Inc. Consumer Cyclical	Held	636	0	$224,304	+7.2%	11	$311.67	0.10%
AAPD	Direxion Shares ETF Trust	Held	10,000	0	$121,100	−13.3%	10	$21.47	0.05%

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.