Li Lu Himalaya Capital Management
Li Lu is the founder of Himalaya Capital Management and a prominent value investor influenced by the Berkshire Hathaway tradition. A student of Charlie Munger’s approach, he is known for concentrated portfolios, long holding periods, and deep fundamental research. His firm’s public filings are followed closely by investors seeking exposure to high-conviction ideas across U.S. and Asian markets.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pinduoduo
PDD
|
+$483M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$144M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 45% |
| 2 | Communication Services | 32.84% |
| 3 | Consumer Discretionary | 17.93% |
| 4 | Energy | 3.39% |
| 5 | Technology | 0.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Bank of America
BAC
$451B
| $494M | 18.36% |
10,431,387
-3,415,246
| -25% | -$144M |
|
|
2
Pinduoduo
PDD
$121B
| $482M | 17.93% |
+4,608,000
| New | +$483M |
|
3
Alphabet (Google) Class A
GOOGL
$4.23T
| $448M | 16.67% |
2,543,300
| – | – |
|
4
Berkshire Hathaway Class B
BRK.B
$1.08T
| $436M | 16.22% |
897,749
| – | – |
|
|
5
Alphabet (Google) Class C
GOOG
$4.2T
| $435M | 16.17% |
2,451,300
| – | – |
|
6
East-West Bancorp
EWBC
$18.7B
| $280M | 10.43% |
2,776,351
| – | – |
|
7
Occidental Petroleum
OXY
$58.3B
| $61.6M | 2.29% |
1,466,500
| – | – |
|
8
Sable Offshore Corp
SOC
$796M
| $29.5M | 1.1% |
1,343,000
| – | – |
|
9
Apple
AAPL
$4.46T
| $22.7M | 0.84% |
110,600
| – | – |
|
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Li Lu's Q2 2025 Portfolio in Review
As of Q2 2025, Li Lu held 9 positions worth $2.69B, up 22% from $2.21B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Li Lu deployed $340M of net new capital in Q2 2025, opening 1 new position. Its largest new stake was Pinduoduo: 4,608,000 shares worth $482M.
By sector, the portfolio is most concentrated in Financials at 45% of assets, down from 59% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was Bank of America, an estimated $144M trimmed.
- Li Lu's largest Q2 2025 buy was Pinduoduo: 4,608,000 shares worth $482M.
- Li Lu's biggest Q2 2025 reduction was Bank of America, cutting an estimated $144M.
- Li Lu's ten largest holdings make up 100% of its $2.69B portfolio in Q2 2025.
- Li Lu opened 1 new position and closed 0 in Q2 2025.
- Li Lu's portfolio value rose 22% quarter-over-quarter to $2.69B.
Based on Himalaya Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.