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MENLO ADVISORS LLC

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13F filer, CIK 1279708, MENLO PARK, CA

MENLO ADVISORS LLC reported $227,921,000 across 30 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-09-10. Its ten largest share positions make up 68.32% of the portfolio.

Accepted , ingested 13F-HR 0001279708-26-000009

Period
2026-06-30
Reported value
$228M
Holdings
30
Top 10 weight
68.32%
New
3
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CAInew+300,518$5.36M
CFnew+48,375$5.24M
MLPXadded+16,620$1.22M
INTCnew+2,455$342K
ABTadded+723$65.6K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GDXreduced-61,874-$4.67M
RVTexited-180,126-$2.9M
GOOGLreduced-5,225-$1.87M
GOOGreduced-3,668-$1.3M
HHHexited-11,777-$939K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2026

Share positions as resolved from 13F-HR 0001279708-26-000009, largest first. % of portfolio is the value over $227,921,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 64,694 shares; 2024Q4: 64,384 shares; 2025Q1: 53,512 shares; 2025Q2: 52,702 shares; 2025Q3: 51,772 shares; 2025Q4: 50,707 shares; 2026Q1: 50,707 shares; 2026Q2: 50,575 shares 50,575$25.3M11.1%-132Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 79,058 shares; 2024Q4: 79,003 shares; 2025Q1: 78,193 shares; 2025Q2: 77,393 shares; 2025Q3: 74,243 shares; 2025Q4: 73,993 shares; 2026Q1: 73,993 shares; 2026Q2: 70,325 shares 70,325$24.8M10.9%-3,668Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 65,870 shares; 2024Q4: 64,893 shares; 2025Q1: 64,273 shares; 2025Q2: 63,473 shares; 2025Q3: 61,973 shares; 2025Q4: 57,455 shares; 2026Q1: 57,455 shares; 2026Q2: 52,230 shares 52,230$18.7M8.19%-5,225Timeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 53,921 shares; 2024Q4: 61,206 shares; 2025Q1: 61,081 shares; 2025Q2: 48,503 shares; 2025Q3: 47,803 shares; 2025Q4: 47,693 shares; 2026Q1: 47,693 shares; 2026Q2: 47,353 shares 47,353$17.4M7.65%-340Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 54,576 shares; 2024Q4: 54,617 shares; 2025Q1: 54,001 shares; 2025Q2: 53,001 shares; 2025Q3: 52,157 shares; 2025Q4: 47,157 shares; 2026Q1: 47,157 shares; 2026Q2: 47,097 shares 47,097$13.6M5.98%-60Timeline
QVALEA SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 248,530 shares; 2024Q4: 251,355 shares; 2025Q1: 251,355 shares; 2025Q2: 248,740 shares; 2025Q3: 241,375 shares; 2025Q4: 241,365 shares; 2026Q1: 241,365 shares; 2026Q2: 240,365 shares 240,365$13.3M5.85%-1,000Timeline
GDXVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 239,215 shares; 2024Q4: 239,115 shares; 2025Q1: 239,115 shares; 2025Q2: 236,215 shares; 2025Q3: 229,090 shares; 2025Q4: 227,866 shares; 2026Q1: 227,866 shares; 2026Q2: 165,992 shares 165,992$12.5M5.49%-61,874Timeline
CSCOCISCO SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 95,119 shares; 2024Q4: 95,119 shares; 2025Q1: 95,119 shares; 2025Q2: 93,944 shares; 2025Q3: 91,344 shares; 2025Q4: 90,019 shares; 2026Q1: 90,019 shares; 2026Q2: 90,019 shares 90,019$10.6M4.64%0Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 27,887 shares; 2024Q4: 27,887 shares; 2025Q1: 27,787 shares; 2025Q2: 27,172 shares; 2025Q3: 26,397 shares; 2025Q4: 26,387 shares; 2026Q1: 26,387 shares; 2026Q2: 26,282 shares 26,282$9.8M4.3%-105Timeline
ABBVABBVIE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 38,902 shares; 2024Q4: 38,902 shares; 2025Q1: 38,752 shares; 2025Q2: 38,252 shares; 2025Q3: 38,102 shares; 2025Q4: 38,102 shares; 2026Q1: 38,102 shares; 2026Q2: 38,102 shares 38,102$9.59M4.21%0Timeline
MLPXGLOBAL X FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 81,402 shares; 2024Q4: 81,402 shares; 2025Q1: 102,392 shares; 2025Q2: 100,697 shares; 2025Q3: 99,237 shares; 2025Q4: 99,252 shares; 2026Q1: 99,252 shares; 2026Q2: 115,872 shares 115,872$8.54M3.74%+16,620Timeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 22,169 shares; 2024Q4: 21,069 shares; 2025Q1: 19,140 shares; 2025Q2: 19,140 shares; 2025Q3: 19,140 shares; 2025Q4: 19,140 shares; 2026Q1: 19,140 shares; 2026Q2: 19,140 shares 19,140$8.05M3.53%0Timeline
RPRXROYALTY PHARMA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 147,885 shares; 2024Q4: 133,235 shares; 2025Q1: 133,235 shares; 2025Q2: 131,325 shares; 2025Q3: 127,640 shares; 2025Q4: 127,640 shares; 2026Q1: 127,640 shares; 2026Q2: 126,940 shares 126,940$7.12M3.12%-700Timeline
MEMXMATTHEWS ASIA FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 133,630 shares; 2024Q4: 126,630 shares; 2025Q1: 125,995 shares; 2025Q2: 123,590 shares; 2025Q3: 125,840 shares; 2025Q4: 126,040 shares; 2026Q1: 126,040 shares; 2026Q2: 126,030 shares 126,030$6.3M2.76%-10Timeline
ABTABBOTT LABORATORIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 69,231 shares; 2024Q4: 69,231 shares; 2025Q1: 68,986 shares; 2025Q2: 67,536 shares; 2025Q3: 67,196 shares; 2025Q4: 67,196 shares; 2026Q1: 67,196 shares; 2026Q2: 67,919 shares 67,919$6.16M2.7%+723Timeline
LMTLOCKHEED MARTIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 12,380 shares; 2024Q4: 11,805 shares; 2025Q1: 11,545 shares; 2025Q2: 11,345 shares; 2025Q3: 11,640 shares; 2025Q4: 11,687 shares; 2026Q1: 11,687 shares; 2026Q2: 11,686 shares 11,686$5.95M2.61%-1Timeline
CAICARIS LIFE SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 300,518 shares 300,518$5.36M2.35%newTimeline
CFCF INDUSTRIES HOLDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 48,375 shares 48,375$5.24M2.3%newTimeline
PSLVSPROTT ASSET MANAGEMENT LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 253,380 shares; 2025Q3: 251,960 shares; 2025Q4: 251,960 shares; 2026Q1: 251,960 shares; 2026Q2: 251,710 shares 251,710$4.75M2.08%-250Timeline
URNMSPROTT FDS TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 89,564 shares; 2024Q4: 90,064 shares; 2025Q1: 89,120 shares; 2025Q2: 86,804 shares; 2025Q3: 86,304 shares; 2025Q4: 86,304 shares; 2026Q1: 86,304 shares; 2026Q2: 86,674 shares 86,674$4.56M2%+370Timeline
KKRKKR & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 60,570 shares; 2024Q4: 58,320 shares; 2025Q1: 55,775 shares; 2025Q2: 54,175 shares; 2025Q3: 48,380 shares; 2025Q4: 46,380 shares; 2026Q1: 46,380 shares; 2026Q2: 45,675 shares 45,675$4.19M1.84%-705Timeline
DGRWWISDOMTREE TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 28,060 shares; 2024Q4: 28,010 shares; 2025Q1: 28,010 shares; 2025Q2: 27,935 shares; 2025Q3: 27,935 shares; 2025Q4: 27,360 shares; 2026Q1: 27,360 shares; 2026Q2: 25,755 shares 25,755$2.46M1.08%-1,605Timeline
FNDFSCHWAB STRATEGIC TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 15,403 shares; 2024Q4: 15,403 shares; 2025Q1: 15,403 shares; 2025Q2: 15,403 shares; 2025Q3: 23,778 shares; 2025Q4: 23,846 shares; 2026Q1: 23,846 shares; 2026Q2: 23,846 shares 23,846$1.26M0.55%0Timeline
MUMICRON TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,170 shares; 2026Q1: 1,170 shares; 2026Q2: 500 shares 500$577K0.25%-670Timeline
CRWDCROWDSTRIKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 561 shares; 2025Q3: 561 shares; 2025Q4: 561 shares; 2026Q1: 561 shares; 2026Q2: 561 shares 561$428K0.19%0Timeline
PHYSSPROTT ASSET MANAGEMENT LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 12,000 shares; 2024Q4: 12,000 shares; 2025Q1: 12,000 shares; 2025Q2: 12,000 shares; 2025Q3: 12,000 shares; 2025Q4: 12,000 shares; 2026Q1: 12,000 shares; 2026Q2: 12,000 shares 12,000$362K0.16%0Timeline
INTCINTEL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 2,455 shares 2,455$342K0.15%newTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 1,000 shares; 2025Q1: not reported; 2025Q2: 1,000 shares; 2025Q3: 1,000 shares; 2025Q4: 1,000 shares; 2026Q1: 1,000 shares; 2026Q2: 1,000 shares 1,000$238K0.1%0Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 636 shares; 2024Q4: 649 shares; 2025Q1: 636 shares; 2025Q2: 636 shares; 2025Q3: 636 shares; 2025Q4: 636 shares; 2026Q1: 636 shares; 2026Q2: 636 shares 636$224K0.1%0Timeline
AAPDDIREXION SHARES ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 12,500 shares; 2024Q4: 10,000 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares; 2025Q3: 10,000 shares; 2025Q4: 10,000 shares; 2026Q1: 10,000 shares; 2026Q2: 10,000 shares 10,000$121K0.05%0Timeline

Sold out in Q2 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
RVTROYCE SMALL CAP TRUST INC180,126$2.9Mshares
HHHHOWARD HUGHES HOLDINGS INC11,777$939Kshares
SPYSTATE STR SPDR S&P 500 ETF T1,500$575Kshares

How Q2 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001279708-26-000009 base2026-09-10