Li Lu

Himalaya Capital·quality·Concentrated / high-conviction

Accredited only

~mid teens since 1997

Portfolio value

$3.7B

Positions

Top 5 concentration

95%

New buys this quarter

Quarterly activity

What Li Lu bought and sold each quarter.

Jun 2026vs Mar 2026

Bought (2)

$PDDADRAdded+133.5%$BRK-BAdded+23.5%

Sold (6)

$SPGISold out$MSCISold out$BACSold out$OXYSold out$MCOSold out$HRBSold out

Mar 2026vs Dec 2025

Bought (5)

$TMEADRNew buy1.9%$SPGINew buy1.6%$MCONew buy1.6%$HRBNew buy1.6%$MSCINew buy0.3%

Sold (9)

$BACTrimmed-85.6%$GOOGTrimmed-50.9%$AAPLTrimmed-50%$EWBCTrimmed-50%$OXYTrimmed-50%$PDDADRTrimmed-50%$BRK-BTrimmed-50%$GOOGLTrimmed-49.1%$CROXTrimmed-29.4%

Dec 2025vs Sep 2025

Bought (9)

$CROXNew buy1.5%$GOOGLAdded+96.4%$GOOGAdded+103.8%$BACAdded+100%$PDDADRAdded+100%$BRK-BAdded+100%$EWBCAdded+100%$OXYAdded+100%$AAPLAdded+100%

Sold (1)

$SOCSold out

Jun 2025vs Mar 2025

Bought (1)

$PDDADRNew buy17.9%

Sold (1)

$BACTrimmed-24.7%

Mar 2025vs Dec 2024

Bought (0)

—

Sold (3)

$AAPLTrimmed-65.2%$BACTrimmed-23.4%$GOOGTrimmed-19.5%

Sep 2024vs Jun 2024

Bought (1)

$SOCNew buy1.3%

Sold (1)

$AAPLTrimmed-58.2%

Quarter-over-quarter change in disclosed positions.

Holdings

Stock	Move	% of portfolio	Quarter-end px	Now	Since quarter-end
$GOOGL ALPHABET INC	Held	24.5%	$357.37	$338.46	-5.3%
$GOOG ALPHABET INC	Held	23.4%	$353.33	$335.31	-5.1%
$PDDADR PDD HOLDINGS INC	Added	22.2%	$76.28	$82.21	+7.8%
$BRK-B BERKSHIRE HATHAWAY INC DEL	Added	15%	$500.39	$506.03	+1.1%
$EWBC EAST WEST BANCORP INC	Held	9.7%	$129.09	$130.77	+1.3%
$CROX CROCS INC	Held	2.9%	$120.64	$117.53	-2.6%
$TMEADR TENCENT MUSIC ENTERTAINM	Held	1.5%	$8.35	$8.26	-1.1%
$AAPL APPLE INC	Held	0.9%	$289.36	$319.97	+10.6%

Notable sell-outs this quarter: $SPGI, $MSCI, $BAC, $OXY, $MCO, $HRB

Track Li Lu between filings

13Fs land once a quarter. We email you when a tracked manager files a Form 4, a 13D stake or a Form 144 notice of sale — days after it happens, not months.

Source: SEC 13F via FMP · holdings as of Jun 2026 · 45-day filing delay. Long equity positions only. Not financial advice.