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 |
Crocs
CROX
|
+$52.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sable Offshore Corp
SOC
|
+$23.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 43.86% |
| 2 | Financials | 37.46% |
| 3 | Consumer Discretionary | 16.15% |
| 4 | Energy | 1.69% |
| 5 | Technology | 0.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Alphabet (Google) Class A
GOOGL
$4.23T
| $796M | 22.31% |
2,543,300
| – | – |
|
|
2
Alphabet (Google) Class C
GOOG
$4.2T
| $769M | 21.55% |
2,451,300
| – | – |
|
3
Bank of America
BAC
$451B
| $574M | 16.08% |
10,431,387
| – | – |
|
4
Pinduoduo
PDD
$121B
| $523M | 14.64% |
4,608,000
| – | – |
|
5
Berkshire Hathaway Class B
BRK.B
$1.08T
| $451M | 12.64% |
897,749
| – | – |
|
6
East-West Bancorp
EWBC
$18.7B
| $312M | 8.74% |
2,776,351
| – | – |
|
7
Occidental Petroleum
OXY
$58.3B
| $60.3M | 1.69% |
1,466,500
| – | – |
|
|
8
Crocs
CROX
$6.32B
| $53.7M | 1.51% |
+628,159
| New | +$52.5M |
|
9
Apple
AAPL
$4.46T
| $30.1M | 0.84% |
110,600
| – | – |
|
|
10
Sable Offshore Corp
SOC
$796M
| – | – |
-1,343,000
| Closed | -$23.4M |
|
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Li Lu's Q4 2025 Portfolio in Review
As of Q4 2025, Li Lu held 10 positions worth $3.57B, up 10% from $3.23B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Li Lu's Q4 2025 filing shows 1 new and 1 closed positions. Its largest new stake was Crocs: 628,159 shares worth $53.7M. The largest sale was Sable Offshore Corp, an estimated $23.4M.
By sector, the portfolio is most concentrated in Communication Services at 44% of assets, up from 38% a quarter earlier, followed by Financials and Consumer Discretionary.
- Li Lu's largest Q4 2025 buy was Crocs: 628,159 shares worth $53.7M.
- Li Lu fully exited Sable Offshore Corp in Q4 2025, selling an estimated $23.4M.
- Li Lu's ten largest holdings make up 100% of its $3.57B portfolio in Q4 2025.
- Li Lu opened 1 new position and closed 1 in Q4 2025.
- Li Lu's portfolio value rose 10% quarter-over-quarter to $3.57B.
Based on Himalaya Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.