# Li Lu — Himalaya Capital Management

Portfolio USD 3,702,920,000 · 8 positions · 2026 Q2 · history from 2019 Q4.
Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/HC

## Positions (2026 Q2)

| Ticker | Company | % of portfolio | Value | This quarter | Holders |
|---|---|---:|---:|---|---:|
| GOOGL | Alphabet Inc. | 25% | USD 908,899,000 | hold |  |
| GOOG | Alphabet Inc. CL C | 23% | USD 866,118,000 | hold |  |
| PDD | Pinduoduo Inc. | 22% | USD 820,858,000 | +133.53% |  |
| BRK.B | Berkshire Hathaway CL B | 15% | USD 554,591,000 | +23.46% |  |
| EWBC | East West Bancorp | 9.7% | USD 358,399,000 | hold |  |
| CROX | Crocs Inc. | 2.9% | USD 107,019,000 | hold |  |
| TME | Tencent Music Entertainment Grp | 1.5% | USD 55,033,000 | hold |  |
| AAPL | Apple Inc. | 0.9% | USD 32,003,000 | hold |  |

## Moves this quarter (8)

- PDD Pinduoduo Inc.: +133.53% (USD 820,858,000)
- BRK.B Berkshire Hathaway CL B: +23.46% (USD 554,591,000)
- BAC Bank of America Corp.: sold (USD 146,151,866)
- OXY Occidental Petroleum: sold (USD 95,322,500)
- SPGI S&P Global Inc.: sold (USD 51,663,072)
- HRB H&R Block Inc.: sold (USD 51,637,996)
- MCO Moody's Corp.: sold (USD 51,383,270)
- MSCI MSCI Inc.: sold (USD 10,207,932)

## Portfolio value by quarter

- 2019 Q4: USD 420,259,669 (1 positions)
- 2020 Q1: USD 713,205,625 (3 positions)
- 2020 Q2: USD 1,063,750,577 (4 positions)
- 2020 Q3: USD 1,311,493,057 (4 positions)
- 2020 Q4: USD 1,815,697,483 (6 positions)
- 2021 Q1: USD 1,978,259,589 (6 positions)
- 2021 Q2: USD 2,049,193,580 (6 positions)
- 2021 Q3: USD 2,148,193,177 (7 positions)
- 2021 Q4: USD 2,664,592,402 (6 positions)
- 2022 Q1: USD 2,379,390,868 (6 positions)
- 2022 Q2: USD 1,873,687,400 (6 positions)
- 2022 Q3: USD 1,743,376,929 (6 positions)
- 2022 Q4: USD 1,927,409,343 (6 positions)
- 2023 Q1: USD 2,039,299,169 (7 positions)
- 2023 Q2: USD 1,791,448,986 (6 positions)
- 2023 Q3: USD 1,819,921,120 (6 positions)
- 2023 Q4: USD 2,059,457,591 (6 positions)
- 2024 Q1: USD 2,260,617,079 (6 positions)
- 2024 Q2: USD 2,561,360,022 (7 positions)
- 2024 Q3: USD 2,472,695,129 (8 positions)
- 2024 Q4: USD 2,711,379,783 (8 positions)
- 2025 Q1: USD 2,212,436,862 (8 positions)
- 2025 Q2: USD 2,688,933,549 (9 positions)
- 2025 Q3: USD 3,230,264,839 (9 positions)
- 2025 Q4: USD 3,568,876,223 (9 positions)
- 2026 Q1: USD 3,200,586,372 (14 positions)
- 2026 Q2: USD 3,702,920,000 (8 positions)