Himalaya Capital Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Li Lu's Himalaya Capital Management reported 9 stock positions worth $2.7 billion. Its top holding was Bank of America (BAC) at 18.4% of the portfolio, followed by PDD (PDD, 17.9%) and Alphabet Class A (GOOGL, 16.7%). Compared with Q1 2025, it opened 1 new position and reduced 1. The biggest buy was a new position in PDD (PDD) and the biggest sale Bank of America (BAC, shares −25%).
- Most Recent 13F
- Q2 2026
- Notable People
- Li Lu
- Location
- SEATTLE, WA
- CIK
- 0001709323
- Portfolio Value
- $2.7B (Q2 2025)
- SEC Filing
- 0002043585-25-000010 ↗ filed Aug 14, 2025
Holdings Value
Holdings 9 stocks · $2.7B
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 18.36% | 10,431,387 | $493.6M | Reduce -24.7% |
| PDD PDD Holdings Inc. | 17.93% | 4,608,000 | $482.3M | New |
| GOOGL Alphabet Inc. Class A | 16.67% | 2,543,300 | $448.2M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 16.22% | 897,749 | $436.1M | No change |
| GOOG Alphabet Inc. Class C | 16.17% | 2,451,300 | $434.8M | No change |
| EWBC East West Bancorp Inc. | 10.43% | 2,776,351 | $280.4M | No change |
| OXY Occidental Petroleum Corp. | 2.29% | 1,466,500 | $61.6M | No change |
| SOC Sable Offshore Corp. | 1.10% | 1,343,000 | $29.5M | No change |
| AAPL Apple Inc. | 0.84% | 110,600 | $22.7M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| BAC Bank of America Corp. | Reduce -24.7% | 18.36% | −7.76 |
Portfolio Buys Q1 2025 → Q2 2025
| PDD PDD Holdings Inc. | New | 17.93% | +17.93 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 8 | $3.7B | GOOGL, GOOG, PDD, BRK.B, EWBC |
| Q1 2026 | 14 | $3.2B | GOOGL, GOOG, PDD, BRK.B, EWBC |
| Q4 2025Amended | 9 | $3.6B | GOOGL, GOOG, BAC, PDD, BRK.B |
| Q3 2025 | 9 | $3.2B | GOOGL, PDD, GOOG, BAC, BRK.B |
| Q2 2025 | 9 | $2.7B | BAC, PDD, GOOGL, BRK.B, GOOG |
| Q1 2025 | 8 | $2.2B | BAC, BRK.B, GOOGL, GOOG, EWBC |
| Q4 2024 | 8 | $2.7B | BAC, GOOG, GOOGL, BRK.B, EWBC |
| Q3 2024 | 8 | $2.5B | BAC, GOOG, GOOGL, BRK.B, EWBC |
| Q2 2024 | 7 | $2.6B | BAC, GOOG, GOOGL, BRK.B, EWBC |
| Q1 2024 | 6 | $2.3B | BAC, GOOG, GOOGL, BRK.B, EWBC |