Li Lu
Grafts value investing onto China: extreme concentration, very long holding, only great businesses within his circle.
Came to the U.S. in the 1990s and later founded Himalaya Capital. He is the only outside manager Charlie Munger entrusted with family money; his 2002 BYD bet, which he brought to Buffett and Munger, became a classic of investing history.
Himalaya Capital files a 13F (≈45-day lag). Li Lu is the only outside manager Munger entrusted with family money. Note: his famous BYD stake is HK-listed and not in the U.S. 13F, which is heavily Alphabet-concentrated.
Holdings & weights
Q1 2026 · 13F (as of 31 Mar 2026)Weights are by market value, from real 13F / daily disclosure. This is a snapshot and will change — see live: Live 13F weights & activity on dataroma
His overwhelming #1 (with GOOG, ≈half the U.S. book).
Analyze through a master's lensTogether with GOOGL, his core mega-position.
Analyze through a master's lensA regional bank focused on the Chinese-American market.
Analyze through a master's lensOne of his financial holdings.
Analyze through a master's lensThe legendary 20-year hold he brought to Buffett & Munger. HK-listed, not in the U.S. 13F.
Analyze through a master's lensnew Tencent Music Entertainment Grp, new H&R Block Inc., new Moody's Corp., new S&P Global Inc., new MSCI Inc..
In their own words
Investing is forecasting the future; accuracy depends on how deeply you understand the business.
Where to follow them
Primary sources. Read the original — don't settle for second-hand summaries.
Run any stock you care about through the "Value · Circle of Competence" lens.
Keep exploring
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