GInternet Content & InformationAlphabet Inc. (GOOGL)
19.1%
Avg. buy price
$100.94
Estimated gain+138.6%Quarter-end price
$240.88
Last transaction
Added· Q4 2022Increased shares by 168.3%
Li Lu is a Chinese-born American value investor who founded Himalaya Capital in 1997 and serves as its chairman.
Himalaya Capital Management LLC Holdings · Q3 2025
| Stock | % | Avg. buy price | Estimated gain | Quarter-end price | Last transaction | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
GInternet Content & InformationAlphabet Inc. (GOOGL)
19.1%
Avg. buy price
$100.94
Estimated gain+138.6%Quarter-end price
$240.88
Last transaction
Added· Q4 2022Increased shares by 168.3%
|
G
Internet Content & InformationAlphabet Inc. (GOOGL)
|
19.1% | $100.94 | +138.6% | $240.88 | Added· Q4 2022Increased shares by 168.3% | |||||
 PDepartment StoresPDD Holdings Inc. (PDD)
18.9%
Avg. buy price
$104.82
Estimated gain+26.1%Quarter-end price
$132.17
Last transaction
New· Q2 2025Opened a new position
|
P
Department StoresPDD Holdings Inc. (PDD)
|
18.9% | $104.82 | +26.1% | $132.17 | New· Q2 2025Opened a new position | |||||
 GInternet Content & InformationAlphabet Inc. (GOOG)
18.5%
Avg. buy price
$111.66
Estimated gain+118.1%Quarter-end price
$243.55
Last transaction
Reduced· Q1 2025Sold 19.5% of shares
|
G
Internet Content & InformationAlphabet Inc. (GOOG)
|
18.5% | $111.66 | +118.1% | $243.55 | Reduced· Q1 2025Sold 19.5% of shares | |||||
 BBanks - DiversifiedBank of America Corporation (BAC)
16.7%
Avg. buy price
$33.35
Estimated gain+54.7%Quarter-end price
$51.59
Last transaction
Reduced· Q2 2025Sold 24.7% of shares
|
B
Banks - DiversifiedBank of America Corporation (BAC)
|
16.7% | $33.35 | +54.7% | $51.59 | Reduced· Q2 2025Sold 24.7% of shares | |||||
 BInsurance - DiversifiedBerkshire Hathaway Inc. (BRK-B)
14.0%
Avg. buy price
$284.56
Estimated gain+76.7%Quarter-end price
$502.74
Last transaction
New· Q3 2021Opened a new position
|
B
Insurance - DiversifiedBerkshire Hathaway Inc. (BRK-B)
|
14.0% | $284.56 | +76.7% | $502.74 | New· Q3 2021Opened a new position | |||||
 EBanks - DiversifiedEast West Bancorp, Inc. (EWBC)
9.1%
Last transaction
Added· Q2 2023Increased shares by 20.9%
|
E
Banks - DiversifiedEast West Bancorp, Inc. (EWBC)
|
9.1% | – | – | – | Added· Q2 2023Increased shares by 20.9% | |||||
 OOil & Gas Exploration & ProductionOccidental Petroleum Corporation (OXY)
2.1%
Avg. buy price
$64.13
Estimated gain−26.3%Quarter-end price
$47.25
Last transaction
New· Q2 2024Opened a new position
|
O
Oil & Gas Exploration & ProductionOccidental Petroleum Corporation (OXY)
|
2.1% | $64.13 | −26.3% | $47.25 | New· Q2 2024Opened a new position | |||||
 AConsumer ElectronicsApple Inc. (AAPL)
0.9%
Avg. buy price
$156.95
Estimated gain+62.2%Quarter-end price
$254.63
Last transaction
Reduced· Q1 2025Sold 65.2% of shares
|
A
Consumer ElectronicsApple Inc. (AAPL)
|
0.9% | $156.95 | +62.2% | $254.63 | Reduced· Q1 2025Sold 65.2% of shares | |||||
 SOil & Gas DrillingSable Offshore Corp. (SOC)
0.7%
Last transaction
New· Q3 2024Opened a new position
|
S
Oil & Gas DrillingSable Offshore Corp. (SOC)
|
0.7% | – | – | – | New· Q3 2024Opened a new position | |||||
Largest holdings in Q3 2025, sized by their share of the disclosed portfolio. This shows what is owned, not what changed.
Li Lu is a Chinese-born American value investor who founded Himalaya Capital in 1997 and serves as its chairman. This page shows Himalaya's quarterly Form 13F report of certain United States listed long positions, not Li Lu's personal account or the firm's complete portfolio.
Profile refreshed July 20, 2026
As of the Q3 2025 filing, Li Lu's largest disclosed holdings are Alphabet Inc. (GOOGL), PDD Holdings Inc. (PDD), Alphabet Inc. (GOOG). The table shows 9 of 9 positions by default, with an exact-count control for the remaining rows. Disclosed shares and values remain visible even when a separate market-price estimate is unavailable.
The biggest disclosed buys in Q3 2025 were New, based on the Himalaya Capital Management LLC 13F filing. New positions are marked "new" in the table above.
The biggest reductions in Q3 2025 were Unchanged. The filing comparison contains 0 full exits, summarized in the activity view above.
The latest 13F discloses $3.2B across 9 positions in Q3 2025. 13F filings cover US-listed long positions only; cash and short positions are not disclosed.
Funds file 13Fs up to 45 days after each quarter ends, so this portfolio reflects Q3 2025, the latest disclosed quarter. The filing date is shown with every table.
Non-rejected, non-superseded SEC Form 13F filings for Himalaya Capital Management LLC provide the Q3 2025 holdings, disclosed values, and filing date shown here. WhoBought prefers filings whose value units validate and labels a sparse filing when validation is unavailable. Industry labels come from the local company classification record.
Performance uses daily closing prices for holdings with available market-price history. It covers the priced share of disclosed value (87%); holdings without sufficient price history are excluded from the calculation.
Li Lu is a Chinese-born American value investor and philanthropist. He founded Himalaya Capital in 1997 and serves as its chairman.
Li was one of the student leaders of the 1989 protests. After the government crackdown, he left China, traveled first to France, and later settled in New York.
He studied physics and then economics at Nanjing University. At Columbia, he completed a bachelor's degree in economics, an MBA, and a law degree in 1996.
Li heard Buffett speak at Columbia in 1993 and found his explanation of investing compelling. He began buying stocks while he was still a student.
Li founded Himalaya Capital in 1997 after working in investment banking. The firm follows a disciplined, value-oriented approach.
Li looks for businesses that can compound over many years and whose competitive position can still be understood well into the future. He has also stressed complete information and the discipline to admit what he does not know.
Munger invested with Li and became his mentor and friend. Munger publicly praised Li's investment ability and called him the Chinese Warren Buffett.
Li introduced the Chinese battery and electric-vehicle company BYD to Charlie Munger and Warren Buffett. He has also been described as an informal adviser to BYD.
He was discussed as a possible future Berkshire investment manager, but he withdrew from consideration in 2010. He does not work for Berkshire.
No. The holdings table and quarterly-changes section follow Himalaya Capital's disclosed US-listed long positions. They do not show Li's personal account, private securities, shorts, many derivatives, or every foreign holding.