Reported portfolio
Li Lu
Himalaya Capital Management LLC
Last update 2026-08-14
- Reported portfolio value
- $3,702,921,000
- Current positions
- 8
- Top five concentration
- 94.8%
- Largest position
- 24.5%
- New positions
- 0
- Closed positions
- 6
Reported holdings
14 positions
| Company | Portfolio | Recent activity | Shares | Reported price | Reported value | Updated / source |
|---|---|---|---|---|---|---|
GOOGL ALPHABET INC | 24.55% | Unchanged | 2,543,300 | $357 | $908,899,000+$177,548,000 | 13F2026-06-30 ↗ |
GOOG ALPHABET INC | 23.39% | Unchanged | 2,451,300 | $353 | $866,118,000+$162,938,000 | 13F2026-06-30 ↗ |
PDD PDD HOLDINGS INC | 22.17% | Added 133.5% | 10,761,119+6,153,119 | $76 | $820,858,000+$350,013,000 | 13F2026-06-30 ↗ |
BRK/B BERKSHIRE HATHAWAY INC DEL | 14.98% | Added 23.5% | 1,108,318+210,569 | $500 | $554,591,000+$124,390,000 | 13F2026-06-30 ↗ |
EWBC EAST WEST BANCORP INC | 9.68% | Unchanged | 2,776,351 | $129 | $358,399,000+$61,996,000 | 13F2026-06-30 ↗ |
CROX CROCS INC | 2.89% | Unchanged | 887,093 | $121 | $107,019,000+$33,372,000 | 13F2026-06-30 ↗ |
TME TENCENT MUSIC ENTERTAINM | 1.49% | Unchanged | 6,590,836 | $8 | $55,033,000−$6,129,000 | 13F2026-06-30 ↗ |
AAPL APPLE INC | 0.86% | Unchanged | 110,600 | $289 | $32,003,000+$3,934,000 | 13F2026-06-30 ↗ |
BAC BK OF AMERICA CORP | 0.00% | Exited | 0−2,997,987 | $49 | $0−$146,152,000 | 13F2026-06-30 ↗ |
OXY OCCIDENTAL PETE CORP | 0.00% | Exited | 0−1,466,500 | $65 | $0−$95,323,000 | 13F2026-06-30 ↗ |
SPGI S&P GLOBAL INC | 0.00% | Exited | 0−121,463 | $425 | $0−$51,663,000 | 13F2026-06-30 ↗ |
HRB BLOCK H & R INC | 0.00% | Exited | 0−1,626,906 | $32 | $0−$51,638,000 | 13F2026-06-30 ↗ |
MCO MOODYS CORP | 0.00% | Exited | 0−117,784 | $436 | $0−$51,383,000 | 13F2026-06-30 ↗ |
MSCI MSCI INC | 0.00% | Exited | 0−18,939 | $539 | $0−$10,208,000 | 13F2026-06-30 ↗ |
Reported price is calculated from the reported value and share count. It is not the investor's actual purchase price.
Filing history
Historical holdings
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOGL | ALPHABET INC | 24.55% | 2,543,300 | $908,899,000 |
| GOOG | ALPHABET INC | 23.39% | 2,451,300 | $866,118,000 |
| PDD | PDD HOLDINGS INC | 22.17% | 10,761,119 | $820,858,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 14.98% | 1,108,318 | $554,591,000 |
| EWBC | EAST WEST BANCORP INC | 9.68% | 2,776,351 | $358,399,000 |
| CROX | CROCS INC | 2.89% | 887,093 | $107,019,000 |
| TME | TENCENT MUSIC ENTERTAINM | 1.49% | 6,590,836 | $55,033,000 |
| AAPL | APPLE INC | 0.86% | 110,600 | $32,003,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOGL | ALPHABET INC | 22.85% | 2,543,300 | $731,351,000 |
| GOOG | ALPHABET INC | 21.97% | 2,451,300 | $703,180,000 |
| PDD | PDD HOLDINGS INC | 14.71% | 4,608,000 | $470,845,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 13.44% | 897,749 | $430,201,000 |
| EWBC | EAST WEST BANCORP INC | 9.26% | 2,776,351 | $296,403,000 |
| BAC | BK OF AMERICA CORP | 4.57% | 2,997,987 | $146,152,000 |
| OXY | OCCIDENTAL PETE CORP | 2.98% | 1,466,500 | $95,323,000 |
| CROX | CROCS INC | 2.30% | 887,093 | $73,646,000 |
| TME | TENCENT MUSIC ENTMT GROUP | 1.91% | 6,590,836 | $61,163,000 |
| SPGI | S&P GLOBAL INC | 1.61% | 121,463 | $51,663,000 |
| HRB | BLOCK H & R INC | 1.61% | 1,626,906 | $51,638,000 |
| MCO | MOODYS CORP | 1.61% | 117,784 | $51,383,000 |
| AAPL | APPLE INC | 0.88% | 110,600 | $28,069,000 |
| MSCI | MSCI INC | 0.32% | 18,939 | $10,208,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOG | ALPHABET INC | 22.31% | 2,543,300 | $796,053,000 |
| GOOGL | ALPHABET INC | 21.55% | 2,451,300 | $769,218,000 |
| BAC | BK OF AMERICA CORP | 16.08% | 10,431,387 | $573,726,000 |
| PDD | PDD HOLDINGS INC | 14.64% | 4,608,000 | $522,501,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 12.64% | 897,749 | $451,254,000 |
| EWBC | EAST WEST BANCORP INC | 8.74% | 2,776,351 | $312,034,000 |
| OXY | OCCIDENTAL PETE CORP | 1.69% | 1,466,500 | $60,302,000 |
| CROX | CROCS INC | 1.51% | 628,159 | $53,720,000 |
| AAPL | APPLE INC | 0.84% | 110,600 | $30,068,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOGL | ALPHABET INC | 22.31% | 2,543,300 | $796,053,000 |
| GOOG | ALPHABET INC | 21.55% | 2,451,300 | $769,218,000 |
| BAC | BK OF AMERICA CORP | 16.08% | 10,431,387 | $573,726,000 |
| PDD | PDD HOLDINGS INC | 14.64% | 4,608,000 | $522,501,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 12.64% | 897,749 | $451,254,000 |
| EWBC | EAST WEST BANCORP INC | 8.74% | 2,776,351 | $312,034,000 |
| OXY | OCCIDENTAL PETE CORP | 1.69% | 1,466,500 | $60,302,000 |
| CROX | CROCS INC | 1.51% | 628,159 | $53,720,000 |
| AAPL | APPLE INC | 0.84% | 110,600 | $30,068,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOGL | ALPHABET INC | 19.14% | 2,543,300 | $618,276,000 |
| PDD | PDD HOLDINGS INC | 18.85% | 4,608,000 | $609,039,000 |
| GOOG | ALPHABET INC | 18.48% | 2,451,300 | $597,014,000 |
| BAC | BK OF AMERICA CORP | 16.66% | 10,431,387 | $538,155,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 13.97% | 897,749 | $451,334,000 |
| EWBC | EAST WEST BANCORP INC | 9.15% | 2,776,351 | $295,543,000 |
| OXY | OCCIDENTAL PETE CORP | 2.15% | 1,466,500 | $69,292,000 |
| AAPL | APPLE INC | 0.87% | 110,600 | $28,162,000 |
| SOC | SABLE OFFSHORE CORP | 0.73% | 1,343,000 | $23,449,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 18.36% | 10,431,387 | $493,613,000 |
| PDD | PDD HOLDINGS INC | 17.93% | 4,608,000 | $482,273,000 |
| GOOGL | ALPHABET INC | 16.67% | 2,543,300 | $448,206,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 16.22% | 897,749 | $436,100,000 |
| GOOG | ALPHABET INC | 16.17% | 2,451,300 | $434,836,000 |
| EWBC | EAST WEST BANCORP INC | 10.43% | 2,776,351 | $280,356,000 |
| OXY | OCCIDENTAL PETE CORP | 2.29% | 1,466,500 | $61,608,000 |
| SOC | SABLE OFFSHORE CORP | 1.10% | 1,343,000 | $29,519,000 |
| AAPL | APPLE INC | 0.84% | 110,600 | $22,692,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 26.12% | 13,846,633 | $577,820,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 21.61% | 897,749 | $478,123,000 |
| GOOGL | ALPHABET INC | 17.78% | 2,543,300 | $393,296,000 |
| GOOG | ALPHABET INC | 17.31% | 2,451,300 | $382,967,000 |
| EWBC | EAST WEST BANCORP INC | 11.26% | 2,776,351 | $249,205,000 |
| OXY | OCCIDENTAL PETE CORP | 3.27% | 1,466,500 | $72,386,000 |
| SOC | SABLE OFFSHORE CORP | 1.54% | 1,343,000 | $34,072,000 |
| AAPL | APPLE INC | 1.11% | 110,600 | $24,568,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 29.31% | 18,081,133 | $794,666,000 |
| GOOG | ALPHABET INC | 21.38% | 3,044,000 | $579,699,000 |
| GOOGL | ALPHABET INC | 17.76% | 2,543,300 | $481,447,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 15.01% | 897,749 | $406,932,000 |
| EWBC | EAST WEST BANCORP INC | 9.81% | 2,776,351 | $265,863,000 |
| AAPL | APPLE INC | 2.93% | 317,700 | $79,558,000 |
| OXY | OCCIDENTAL PETE CORP | 2.67% | 1,466,500 | $72,460,000 |
| SOC | SABLE OFFSHORE CORP | 1.13% | 1,343,000 | $30,755,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 29.02% | 18,081,133 | $717,459,000 |
| GOOG | ALPHABET INC | 20.58% | 3,044,000 | $508,926,000 |
| GOOGL | ALPHABET INC | 17.06% | 2,543,300 | $421,806,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 16.71% | 897,749 | $413,198,000 |
| EWBC | EAST WEST BANCORP INC | 9.29% | 2,776,351 | $229,715,000 |
| OXY | OCCIDENTAL PETE CORP | 3.06% | 1,466,500 | $75,583,000 |
| AAPL | APPLE INC | 2.99% | 317,700 | $74,024,000 |
| SOC | SABLE OFFSHORE CORP | 1.28% | 1,343,000 | $31,735,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 28.07% | 18,081,133 | $719,087,000 |
| GOOG | ALPHABET INC | 21.80% | 3,044,000 | $558,330,000 |
| GOOGL | ALPHABET INC | 18.08% | 2,543,300 | $463,262,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 14.26% | 897,749 | $365,204,000 |
| EWBC | EAST WEST BANCORP INC | 7.94% | 2,776,351 | $203,312,000 |
| AAPL | APPLE INC | 6.25% | 759,600 | $159,987,000 |
| OXY | OCCIDENTAL PETE CORP | 3.61% | 1,466,500 | $92,433,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 30.33% | 18,081,133 | $686,000 |
| GOOG | ALPHABET INC | 20.50% | 3,044,000 | $463,000 |
| GOOGL | ALPHABET INC | 16.98% | 2,543,300 | $384,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 16.70% | 897,749 | $378,000 |
| EWBC | EAST WEST BANCORP INC | 9.72% | 2,776,351 | $220,000 |
| AAPL | APPLE INC | 5.76% | 759,600 | $130,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 29.56% | 18,081,133 | $609,000 |
| GOOG | ALPHABET INC | 20.83% | 3,044,000 | $429,000 |
| GOOGL | ALPHABET INC | 17.25% | 2,543,300 | $355,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 15.55% | 897,749 | $320,000 |
| EWBC | EAST WEST BANCORP INC | 9.70% | 2,776,351 | $200,000 |
| AAPL | APPLE INC | 7.10% | 759,600 | $146,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 27.20% | 18,081,133 | $495,000 |
| GOOG | ALPHABET INC | 22.05% | 3,044,000 | $401,000 |
| GOOGL | ALPHABET INC | 18.29% | 2,543,300 | $333,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 17.28% | 897,749 | $314,000 |
| EWBC | EAST WEST BANCORP INC | 8.04% | 2,776,351 | $146,000 |
| AAPL | APPLE INC | 7.15% | 759,600 | $130,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 28.96% | 18,081,133 | $519,000 |
| GOOG | ALPHABET INC | 20.56% | 3,044,000 | $368,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 17.09% | 897,749 | $306,000 |
| GOOGL | ALPHABET INC | 16.99% | 2,543,300 | $304,000 |
| AAPL | APPLE INC | 8.22% | 759,600 | $147,000 |
| EWBC | EAST WEST BANCORP INC | 8.18% | 2,776,351 | $147,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BAC | BK OF AMERICA CORP | 25.36% | 18,081,133 | $517,000 |
| MU | MICRON TECHNOLOGY INC | 20.20% | 6,826,079 | $412,000 |
| GOOG | ALPHABET INC | 15.52% | 3,044,000 | $317,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 13.59% | 897,749 | $277,000 |
| GOOGL | ALPHABET INC | 12.94% | 2,543,300 | $264,000 |
| EWBC | EAST WEST BANCORP INC | 6.25% | 2,296,300 | $127,000 |
| AAPL | APPLE INC | 6.14% | 759,600 | $125,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 29.76% | 11,476,523 | $574,000 |
| BAC | BK OF AMERICA CORP | 25.07% | 14,586,987 | $483,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 14.39% | 897,749 | $277,000 |
| GOOG | ALPHABET INC | 14.01% | 3,044,000 | $270,000 |
| GOOGL | ALPHABET INC | 11.64% | 2,543,300 | $224,000 |
| AAPL | APPLE INC | 5.12% | 759,600 | $99,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 32.98% | 11,476,523 | $574,974,000 |
| BAC | BK OF AMERICA CORP | 25.27% | 14,586,987 | $440,527,000 |
| GOOG | ALPHABET INC | 16.79% | 3,044,000 | $292,681,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 13.75% | 897,749 | $239,717,000 |
| AAPL | APPLE INC | 6.02% | 759,600 | $104,977,000 |
| GOOGL | ALPHABET INC | 5.20% | 948,000 | $90,676,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 33.86% | 11,476,523 | $634,422,000 |
| BAC | BK OF AMERICA CORP | 24.24% | 14,586,987 | $454,093,000 |
| GOOG | ALPHABET INC | 17.77% | 152,200 | $332,930,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 13.08% | 897,749 | $245,103,000 |
| AAPL | APPLE INC | 5.54% | 759,600 | $103,853,000 |
| GOOGL | ALPHABET INC | 5.51% | 47,400 | $103,297,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 37.57% | 11,476,523 | $893,906,000 |
| BAC | BK OF AMERICA CORP | 25.27% | 14,586,987 | $601,276,000 |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | 13.32% | 897,749 | $316,825,000 |
| GOOG | ALPHABET INC | 10.08% | 85,900 | $239,918,000 |
| META | META PLATFORMS INC | 8.19% | 876,200 | $194,832,000 |
| AAPL | APPLE INC | 5.57% | 759,600 | $132,634,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 40.12% | 11,476,523 | $1,069,038,000 |
| BAC | BK OF AMERICA CORP | 24.36% | 14,586,987 | $648,975,000 |
| META | META PLATFORMS INC | 11.06% | 876,200 | $294,710,000 |
| BRK/B | BERKSHIRE HATHAWAY INC | 10.07% | 897,749 | $268,427,000 |
| GOOG | ALPHABET INC | 9.33% | 85,900 | $248,559,000 |
| AAPL | APPLE INC | 5.06% | 759,600 | $134,882,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 37.92% | 11,476,523 | $814,604,000 |
| BAC | BK OF AMERICA CORP | 24.42% | 12,358,987 | $524,639,000 |
| BRK/B | BERKSHIRE HATHAWAY INC | 11.41% | 897,749 | $245,032,000 |
| GOOG | ALPHABET INC | 10.66% | 85,900 | $228,950,000 |
| META | FACEBOOK INC | 9.05% | 572,600 | $194,335,000 |
| AAPL | APPLE INC | 5.00% | 759,600 | $107,483,000 |
| PDD | PINDUODUO INC | 1.53% | 363,165 | $32,928,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 47.59% | 11,476,523 | $975,275,000 |
| BAC | BK OF AMERICA CORP | 24.86% | 12,358,987 | $509,561,000 |
| GOOG | ALPHABET INC | 10.51% | 85,900 | $215,293,000 |
| META | FACEBOOK INC | 9.72% | 572,600 | $199,099,000 |
| AAPL | APPLE INC | 5.08% | 759,600 | $104,035,000 |
| PDD | PINDUODUO INC | 2.25% | 363,165 | $46,129,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 51.17% | 11,476,523 | $1,012,344,000 |
| BAC | BK OF AMERICA CORP | 24.17% | 12,358,987 | $478,169,000 |
| GOOG | ALPHABET INC | 8.98% | 85,900 | $177,695,000 |
| META | FACEBOOK INC | 8.53% | 572,600 | $168,648,000 |
| AAPL | APPLE INC | 4.69% | 759,600 | $92,785,000 |
| PDD | PINDUODUO INC | 2.46% | 363,165 | $48,621,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 47.52% | 11,476,523 | $862,805,000 |
| BAC | BK OF AMERICA CORP | 20.63% | 12,358,987 | $374,601,000 |
| META | FACEBOOK INC | 14.45% | 960,300 | $262,316,000 |
| GOOG | ALPHABET INC | 8.29% | 85,900 | $150,486,000 |
| AAPL | APPLE INC | 5.55% | 759,600 | $100,791,000 |
| PDD | PINDUODUO INC | 3.55% | 363,165 | $64,524,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | 41.09% | 11,476,523 | $538,938,000 |
| META | FACEBOOK INC | 26.58% | 1,331,000 | $348,589,000 |
| BAC | BK OF AMERICA CORP | 22.70% | 12,358,987 | $297,728,000 |
| GOOG | ALPHABET INC | 9.63% | 85,900 | $126,239,000 |
Investor background
Li Lu
“He’s the Chinese Warren Buffett, and he’s hit it out of the park.”Charlie Munger
Li Lu is the founder and chairman of Himalaya Capital, a value-investing firm established in 1997. After arriving in the United States in 1989, he studied at Columbia University and in 1996 simultaneously earned a BA in economics, a JD and an MBA. A 1993 lecture by Warren Buffett introduced him to value investing; after a brief period in investment banking, he formed Himalaya and has managed its principal fund ever since.
Li’s early career was more experimental than his current reputation suggests. Himalaya initially operated as a conventional hedge fund, investing across public securities, private companies and short positions. Experience during the Asian financial crisis, together with the asymmetric risks and psychological demands of short selling, gradually led him toward a long-only, owner-oriented model. His process also evolved from buying statistically cheap securities to purchasing high-quality businesses at attractive prices.
Li is a super investor because his record combines longevity, concentrated decision-making, rare cross-border competence and exceptional investments, most notably BYD. Himalaya invested in BYD in 2002, years before Berkshire Hathaway acquired its stake, and Charlie Munger later entrusted Li with $88 million of family capital. Li’s edge is not a single formula. It is a system built around intellectual honesty, exhaustive reading, business-owner thinking, disciplined inactivity, deep study of management and corporate culture, and the willingness to invest heavily when price, quality and understanding align.
He is also unusually useful to follow. Li remains the principal fund manager rather than merely the public face of Himalaya, and his speeches and interviews explain his reasoning with unusual clarity.
- Himalaya Capital — Official Website ↗
- Himalaya Capital — Publications and Documents ↗
- Li Lu — Graham & Doddsville Interview, 2013 PDF ↗
- Global Value Investing in Our Era — Li Lu, 2024 PDF ↗
- Financial Times — No Other Investor Has a Life Story Quite as Unbelievable as Li Lu ↗
- SEC EDGAR — Himalaya Capital Management Filings ↗