MENLO ADVISORS LLC Q2 2026 Filing

Filed September 10, 2026

Portfolio Value

$210.6M

Holdings

Report Date

Q2 2026

Filing Type

13F-HR

All Holdings (29 positions)

#	Stock	Shares	Value	% Portfolio
1	BRK/BBERKSHIRE HATHAWAY CLASS B	51,772	$26.0M	12.36%
2	—ALPHABET INC CLASS CLASS C	74,243	$18.1M	8.58%
3	PEKVANECK GOLD MINERS ETF	229,090	$17.5M	8.31%
4	GLDSPDR GOLD SHARES	47,803	$17.0M	8.07%
5	—ALPHABET INC CLASS A	61,973	$15.1M	7.15%
6	MSFTMICROSOFT CORP	26,397	$13.7M	6.49%
7	AAPLAPPLE INC	52,157	$13.3M	6.30%
8	—ALPHA ARCHITECT U.S. QUANTITAT	241,375	$11.3M	5.35%
9	ABTABBOTT LABS	67,196	$9.0M	4.27%
10	ABBVABBVIE INC	38,102	$8.8M	4.19%
11	TSLATESLA INC	19,140	$8.5M	4.04%
12	KKRKKR & CO INC	48,380	$6.3M	2.98%
13	CSCOCISCO SYS INC	91,344	$6.2M	2.97%
14	MLPAGLOBAL X MLP & ENERGY INFRASTR	99,237	$6.2M	2.95%
15	LMTLOCKHEED MARTIN CORP	11,640	$5.8M	2.76%
16	URNMSPROTT URANIUM MINERS ETF	86,304	$5.2M	2.48%
17	RPRXROYALTY PHARMA PLC F CLASS A	127,640	$4.5M	2.14%
18	MEMXMATTHEWS EMERGING MARKETS EX C	125,840	$4.4M	2.08%
19	CEFSPROTT PHYSICAL SILVER E	251,960	$4.0M	1.88%
20	RVTROYCE SMALL CAP TRUST CF	191,083	$3.1M	1.46%
21	WQTMWISDOMTREE U.S. QUALITY DIVIDE	27,935	$2.5M	1.18%
22	HHHHOWARD HUGHES HLDGS INC	14,427	$1.2M	0.56%
23	FNDFSCHWAB FUNDAMENTAL INTERNATION	23,778	$1.0M	0.48%
24	SPYPUT SPDR S&P 500 $530 EXP 01/1	2,000	$509K	0.24%
25	PHYSSPROTT PHYSGLD TRST	12,000	$355K	0.17%
26	CRWDCROWDSTRIKE HLDGS INC CLASS CL	561	$275K	0.13%
27	SPYPUT SPDR S&P 500 $600 EXP 12/3	500	$266K	0.13%
28	HDHOME DEPOT INC	636	$257K	0.12%
29	AMZNAMAZON.COM INC	1,000	$219K	0.10%
30	TSMZDIREXION DAILY AAPL BEAR 1X SH	10,000	$140K	0.07%