Himalaya Capital Management (Li Lu) latest 13F portfolio: 14 holdings worth $3.2B as of Q1 2026.
Backtested since 2020: mirroring Himalaya Capital Management's reported 13F equity holdings each quarter would have returned +215.3% versus +184.6%for the S&P 500 (+20.3% annualized). See the Performance tab for the full equity curve.
Investor: Li Lu
Number of Assets: 14
Reporting Period: Q1 - 2026
Holdings at Report: $3,201,226,867
Return $ Since Report: +$478,069,850
Return % Since Report: +14.93%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Alphabet Inc. (GOOGL) | Equity | 0% | 2,543,300 | 22.85% | $287.56 | $356.13 | $731,351,348 | $905,745,429 | +$174,394,081 | +23.85% |
| Alphabet Inc. (GOOG) | Equity | 0% | 2,451,300 | 21.97% | $286.86 | $356.65 | $703,179,918 | $874,256,145 | +$171,076,227 | +24.33% |
| S&P Global Inc. (SPGI) | Equity | +100% | 121,463 | 1.61% | $425.34 | $411.93 | $51,663,072 | $50,034,254 | -$1,628,818 | -3.15% |
| East West Bancorp. Inc. (EWBC) | Equity | 0% | 2,776,351 | 9.26% | $106.76 | $131.00 | $296,403,233 | $363,701,981 | +$67,298,748 | +22.71% |
| Tencent Music Entertainment Group (TME) | Equity | +100% | 6,590,836 | 1.91% | $9.28 | $9.45 | $61,162,958 | $62,283,400 | +$1,120,442 | +1.83% |
| Apple Inc. (AAPL) | Equity | 0% | 110,600 | 0.88% | $253.79 | $308.91 | $28,069,174 | $34,165,446 | +$6,096,272 | +21.72% |
| Bank Of America Corp. (BAC) | Equity | -71.26% | 2,997,987 | 4.57% | $48.75 | $61.95 | $146,151,866 | $185,725,295 | +$39,573,429 | +27.08% |
| Berkshire Hathaway Inc. (BRK-B) | Equity | 0% | 897,749 | 13.44% | $479.20 | $511.54 | $430,201,321 | $459,234,523 | +$29,033,202 | +6.75% |
| Moody's Corp. (MCO) | Equity | +100% | 117,784 | 1.61% | $436.25 | $478.38 | $51,383,270 | $56,345,510 | +$4,962,240 | +9.66% |
| PDD Holdings Inc. (PDD) | Equity | 0% | 4,608,000 | 14.71% | $102.18 | $88.56 | $470,845,440 | $408,084,480 | -$62,760,960 | -13.33% |
| Crocs Inc. (CROX) | Equity | +41.22% | 887,093 | 2.30% | $83.02 | $128.01 | $73,646,461 | $113,556,775 | +$39,910,314 | +54.19% |
| MSCI Inc. (MSCI) | Equity | +100% | 18,939 | 0.32% | $539.01 | $572.24 | $10,208,310 | $10,837,653 | +$629,343 | +6.17% |
| H&R Block Inc. (HRB) | Equity | +100% | 1,626,906 | 1.61% | $31.74 | $44.03 | $51,637,996 | $71,632,671 | +$19,994,675 | +38.72% |
| Occidental Petroleum Corp. (OXY) | Equity | 0% | 1,466,500 | 2.98% | $65.00 | $57.07 | $95,322,500 | $83,693,155 | -$11,629,345 | -12.20% |