Menlo Advisors LLC has filed a Form 13F-HR with the Securities and Exchange Commission, disclosing its equity securities holdings as of the close of business on December 31, 2025. The filing lists the firm's principal executive office at 659 Oak Grove Avenue, Ste 207, Menlo Park, California.
The report details a portfolio consisting of 31 individual securities. The largest holding disclosed in the filing is Sprott Physical Silver Trust, for which the firm holds 251,960 shares. This is followed by VanEck Gold Miners ETF, with 227,866 shares, and Royal Pharma PLC F Class A, with 127,640 shares.
Other notable positions include Matthews Emerging Markets Ex C, with 126,040 shares, and Royce Small Cap Trust CF, with 180,126 shares. The filing also lists a position in Sprott Physical Gold Trust with 12,000 shares and SPDR Gold Shares with 47,693 shares.
Among the equity securities listed, Abbott Laboratories is held in the quantity of 67,196 shares, while AbbVie Inc is held in the quantity of 38,102 shares. Other major holdings include Alpha Architect U.S. Quantitative, Alphabet Inc Class A, Alphabet Inc Class C, Amazon.com Inc, Apple Inc, Berkshire Hathaway Class B, Cisco Systems Inc, CrowdStrike Hldgs Inc Class CL, and Home Depot Inc.
The filing also includes positions in Direxion Daily AAPL Bear 1X SH, Global X MLP & Energy Infrastr, Howard Hughes Hldgs Inc, KKR & Co Inc, Lockheed Martin Corp, Micron Technology Inc, Microsoft Corp, Tesla Inc, and WisdomTree U.S. Quality Divide. Additionally, the report lists a position in Sprott Uranium Miners ETF.
Finally, the filing discloses a derivatives position: a State Street SPDR S&P 600 Put option, held in the quantity of 575 shares.
