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Li Lu

Himalaya Capital Management

Munger-backed value investor

📍 Seattle, WAEst. 1997💰 ~$5B AUM

$3.20B

Portfolio Value

14

Holdings

Q1 '26

Period

2026-05-15

Filed

📈

Simulated 13F Return

⚠️ Approximation

Total Return

+24.11%

Q4 '24 → Q3 '25

Annualized

+33.51%/yr

S&P: +18.77%/yr

Alpha (vs S&P)

+10.39%

3 quarters tracked

1-Year Return

—

⚠️ Approximation only. 13F filings are delayed ~45 days. Options, shorts, and intra-quarter trades not captured.

📈 Recent Activity

Changes from previous quarter

BACINCREASED
4.6% of portfolio
-71% shares-11.5pp
CROXINCREASED
2.3% of portfolio
+41% shares+0.8pp
TCMEFNEW
1.9% of portfolio
New position
SPGINEW
1.6% of portfolio
New position
HRBNEW
1.6% of portfolio
New position
MCONEW
1.6% of portfolio
New position
MSCINEW
0.3% of portfolio
New position

📊 Sector Breakdown

Portfolio allocation by sector

Technology 60.4%Financials 19.9%Unknown 16.7%Energy 3.0%

💼 Holdings

🔍

14 of 14 positions · $3.20B

This quarter: 5 new positions, increased 2. Net buyer.

GOOGL
22.8%
22.8% of portfolio
Filed ~$288
—📄
GOOG
22.0%
22.0% of portfolio
Filed ~$287
—📄
PDD
14.7%
14.7% of portfolio
Filed ~$102
—📄
BRK.B
13.4%
13.4% of portfolio
Filed ~$479
—📄
EWBC
9.3%
9.3% of portfolio
Filed ~$107
—📄
BACINCREASED
4.6%
4.6% of portfolio (was 16.1%, added)
Filed ~$49
—📄
OXY
3.0%
3.0% of portfolio
Filed ~$65
—📄
CROXINCREASED
2.3%
2.3% of portfolio (was 1.5%, added)
Filed ~$83
—📄
TCMEFNEW
1.9%
1.9% of portfolio (new position)
Filed ~$9
—📄
SPGINEW
1.6%
1.6% of portfolio (new position)
Filed ~$425
—📄
HRBNEW
1.6%
1.6% of portfolio (new position)
Filed ~$32
—📄
MCONEW
1.6%
1.6% of portfolio (new position)
Filed ~$436
—📄
AAPL
0.9%
0.9% of portfolio
Filed ~$254
—📄
MSCINEW
0.3%
0.3% of portfolio (new position)
Filed ~$539
—📄