MENLO ADVISORS LLC
Filing Date
Global Rank
#4,940
/ 7,991
▼ 168
Top Industry
Insurance - Diversified
22.2%
3Y Alpha vs SPY
-1.7%
Period ended 12 months ago
Filed Aug 6, 2025 · 10mo
22 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+69.3%
SPY
+76.5%
Annualised alpha
-1.7%
Max drawdown
−12.6%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
19 positions · as of Jun 30, 2025 · Δ vs Mar 31, 2025Top Position
19.7%
−2.8 pts
Top 5
58.4%
−3.5 pts
Top 10
86.1%
−3.1 pts
HHI
966
Diversified−139
Portfolio Trend
22 quarters · across all stocks
Sector Breakdown
As of Jun 30, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Financial Services | 30.1% | $39,151,913 |
| Technology | 24.0% | $31,193,395 |
| Healthcare | 16.2% | $21,017,546 |
| Unclassified | 11.4% | $14,785,169 |
| Communication Services | 8.6% | $11,185,846 |
| Consumer Cyclical | 5.0% | $6,532,585 |
| Industrials | 4.0% | $5,254,323 |
| Real Estate | 0.8% | $1,000,822 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increasedNo qualifying positions this quarter.
Trimmed
Positions the filer reduced
13 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| GLD | Spdr Gold Trust | −12,578 | 48,503 | $14,785,169 | |
| RVT | Royce Small-Cap Trust, Inc. | −5,802 | 195,242 | $2,938,392 | |
| RPRX | Royalty Pharma plc | −1,910 | 131,325 | $4,731,639 | |
| 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 | |
| GOOGL | Alphabet Inc. | −800 | 63,473 | $11,185,846 | |
| 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 | |
| No positions match the current search. | |||||
Sold Out
Positions the filer fully exitedNo qualifying positions this quarter.
3 positions ·
$21,017,546 total
· Healthcare only
· as of Jun 30, 2025
All sectors
Communication Services
Consumer Cyclical
Financial Services
Healthcare
Industrials
Real Estate
Technology
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| ABT |
Abbott Laboratories
Healthcare
|
Reduced | 67,536 | $9,185,571 | 43.70% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Reduced | 38,252 | $7,100,336 | 33.78% | |
| RPRX |
Royalty Pharma plc
Healthcare
|
Reduced | 131,325 | $4,731,639 | 22.51% |