Himalaya Capital Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 19, 2026), Li Lu's Himalaya Capital Management reported 9 stock positions worth $3.6 billion. Its top holding was Alphabet Class A (GOOGL) at 22.3% of the portfolio, followed by Alphabet Class C (GOOG, 21.6%) and Bank of America (BAC, 16.1%). Compared with Q3 2025, it opened 1 new position and sold out of 1. The biggest buy was a new position in Crocs (CROX) and the biggest sale an exit from Sable Offshore (SOC).
- Most Recent 13F
- Q2 2026
- Notable People
- Li Lu
- Location
- SEATTLE, WA
- CIK
- 0001709323
- Portfolio Value
- $3.6B (Q4 2025)
- SEC Filing
- 0002043585-26-000012 ↗ filed Feb 19, 2026
Holdings Value
Holdings 9 stocks · $3.6B
| GOOGL Alphabet Inc. Class A | 22.31% | 2,543,300 | $796.1M | No change |
| GOOG Alphabet Inc. Class C | 21.55% | 2,451,300 | $769.2M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 16.08% | 10,431,387 | $573.7M | No change |
| PDD PDD Holdings Inc. | 14.64% | 4,608,000 | $522.5M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 12.64% | 897,749 | $451.3M | No change |
| EWBC East West Bancorp Inc. | 8.74% | 2,776,351 | $312.0M | No change |
| OXY Occidental Petroleum Corp. | 1.69% | 1,466,500 | $60.3M | No change |
| CROX Crocs Inc. | 1.51% | 628,159 | $53.7M | New |
| AAPL Apple Inc. | 0.84% | 110,600 | $30.1M | No change |
Portfolio Sells Q3 2025 → Q4 2025
| SOC Sable Offshore Corp. | Sold out | 0.00% | −0.73 |
Portfolio Buys Q3 2025 → Q4 2025
| CROX Crocs Inc. | New | 1.51% | +1.51 |
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 |