Li Lu (Himalaya Capital) portfolio and holdings
Li LuLong-term holders
The firm of Li Lu, whom Charlie Munger called China's Warren Buffett. It holds a small number of stocks for the long term.
This quarter's moves (Q2 2026)
In Q2 2026 (Apr–Jun), Himalaya Capital opened 0 new positions and sold out of 6 (Bank of America Corporation, Occidental Petroleum Corporation, S&P Global Inc., and others).
By value, the biggest additions were PDD Holdings Inc., Berkshire Hathaway Inc., and the biggest reductions were none.
The largest holding is Alphabet Inc. at 24.5% of the portfolio; the top five make up 94.8%.
Profile
Born in China in 1966, Li Lu was one of the student leaders of the 1989 Tiananmen protests before moving to the U.S. After earning degrees at Columbia, he founded Himalaya Capital in 1997. He is known as one of the very few investors the late Charlie Munger trusted with his own money.
Track record
- Introduced Chinese EV maker BYD to Munger, which led to Berkshire's 2008 investment in BYD
- Concentrates on a few stocks and holds them for years
Based on public statements by the investor or firm and news reports.
By sector
Holdings
Values use quarter-end prices. Changes compare with the previous quarter (end of Mar 2026).
| # | Stock | Value | Weight | Shares | Change | Change % | % of shares out |
|---|---|---|---|---|---|---|---|
| 1 | GOOGLAlphabet Inc. | $909M | 24.55% | 2,543,300 | — | — | 0.02% |
| 2 | GOOGAlphabet Inc. | $866M | 23.39% | 2,451,300 | — | — | 0.02% |
| 3 | PDDPDD Holdings Inc. | $821M | 22.17% | 10,761,119 | Added+6,153,119 | +133.5% | 0.77% |
| 4 | BRK-BBerkshire Hathaway Inc. | $555M | 14.98% | 1,108,318 | Added+210,569 | +23.5% | 0.05% |
| 5 | EWBCEast West Bancorp, Inc. | $358M | 9.68% | 2,776,351 | — | — | 2.03% |
| 6 | CROXCrocs, Inc. | $107M | 2.89% | 887,093 | — | — | 1.94% |
| 7 | TMETencent Music Entertainment Group | $55M | 1.49% | 6,590,836 | — | — | 0.40% |
| 8 | AAPLApple Inc. | $32M | 0.86% | 110,600 | — | — | 0.00% |
Sold out
Held at the end of Mar 2026 but not at the end of Jun 2026. Value and shares are as of the previous quarter.
13F portfolio value over time
Total value of the holdings reported on Form 13F at each quarter end.
FAQ
What is Li Lu's largest holding?
In the 13F as of the end of Jun 2026, the largest holding is Alphabet Inc., worth $909M or 24.5% of the portfolio.
What did Li Lu buy recently?
New positions in Q2 2026 (Apr–Jun): none.
What did Li Lu sell?
Positions sold out in Q2 2026 (Apr–Jun): Bank of America Corporation, Occidental Petroleum Corporation, S&P Global Inc., H&R Block, Inc., Moody's Corporation, and others.
How many stocks are held, and how large is the portfolio?
As of the end of Jun 2026, 8 holdings worth $3.7B in total (U.S.-listed securities reported on Form 13F).
When will the next holdings be disclosed?
Form 13F is due within 45 days of each quarter end. The next one is due around Nov 14, 2026, and this page updates automatically once it is filed.
Source: Form 13F filed with the U.S. Securities and Exchange Commission. This is not a recommendation to buy or sell any security.