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 |
Tencent Music
TME
|
+$97.4M |
| 2 |
H&R Block
HRB
|
+$56.7M |
| 3 |
S&P Global
SPGI
|
+$56.4M |
| 4 |
Moody's
MCO
|
+$55.7M |
| 5 |
Crocs
CROX
|
+$22.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$384M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 46.72% |
| 2 | Financials | 30.8% |
| 3 | Consumer Discretionary | 18.62% |
| 4 | Energy | 2.98% |
| 5 | Technology | 0.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Alphabet (Google) Class A
GOOGL
$4.23T
| $731M | 22.85% |
2,543,300
| – | – |
|
|
2
Alphabet (Google) Class C
GOOG
$4.2T
| $703M | 21.97% |
2,451,300
| – | – |
|
3
Pinduoduo
PDD
$121B
| $471M | 14.71% |
4,608,000
| – | – |
|
4
Berkshire Hathaway Class B
BRK.B
$1.08T
| $430M | 13.44% |
897,749
| – | – |
|
5
East-West Bancorp
EWBC
$18.7B
| $296M | 9.26% |
2,776,351
| – | – |
|
|
6
Bank of America
BAC
$451B
| $146M | 4.57% |
2,997,987
-7,433,400
| -71% | -$384M |
|
7
Occidental Petroleum
OXY
$58.3B
| $95.3M | 2.98% |
1,466,500
| – | – |
|
|
8
Crocs
CROX
$6.32B
| $73.6M | 2.3% |
887,093
+258,934
| +41% | +$22.2M |
|
|
9
Tencent Music
TME
$14.5B
| $61.2M | 1.91% |
+6,590,836
| New | +$97.4M |
|
|
10
S&P Global
SPGI
$123B
| $51.7M | 1.61% |
+121,463
| New | +$56.4M |
|
|
11
H&R Block
HRB
$6.83B
| $51.6M | 1.61% |
+1,626,906
| New | +$56.7M |
|
|
12
Moody's
MCO
$84B
| $51.4M | 1.61% |
+117,784
| New | +$55.7M |
|
13
Apple
AAPL
$4.46T
| $28.1M | 0.88% |
110,600
| – | – |
|
14
MSCI
MSCI
$41.4B
| $10.2M | 0.32% |
+18,939
| New | +$10.7M |
|
Similar funds
Li Lu's Q1 2026 Portfolio in Review
As of Q1 2026, Li Lu held 14 positions worth $3.2B, down 10% from $3.57B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Li Lu's Q1 2026 filing shows 5 new, 1 increased and 1 reduced positions. Its largest new stake was Tencent Music: 6,590,836 shares worth $61.2M. The largest sale was Bank of America, an estimated $384M.
By sector, the portfolio is most concentrated in Communication Services at 47% of assets, up from 44% a quarter earlier, followed by Financials and Consumer Discretionary.
- Li Lu's largest Q1 2026 buy was Tencent Music: 6,590,836 shares worth $61.2M.
- Li Lu added most to Crocs in Q1 2026, an estimated $22.2M increase.
- Li Lu's biggest Q1 2026 reduction was Bank of America, cutting an estimated $384M.
- Li Lu's ten largest holdings make up 96% of its $3.2B portfolio in Q1 2026.
- Li Lu opened 5 new positions and closed 0 in Q1 2026.
- Li Lu's portfolio value fell 10% quarter-over-quarter to $3.2B.
Based on Himalaya Capital Management's 13F filing for Q1 2026, filed 15 May 2026.