Li Lu
Li Lu
Investment Philosophy
Li Lu is one of the most private and respected investors in the world, known primarily as Charlie Munger’s hand-picked money manager. After leading student protests at Tiananmen Square in 1989 and escaping to the United States, Li Lu built Himalaya Capital into a formidable investment firm with deep expertise in Asian markets.
His investment philosophy closely mirrors Buffett and Munger’s approach: finding exceptional businesses with durable competitive advantages at reasonable prices, then holding them for the long term. Li Lu’s edge lies in his deep understanding of the Chinese economy and his ability to identify world-class businesses in markets that most Western investors misunderstand or overlook.
He runs an extraordinarily concentrated portfolio, often with just a handful of positions representing decades of conviction. His patience and cultural insight into Asian business dynamics give him a structural informational advantage that few Western investors can replicate.
Current Portfolio
Source: SEC 13F Filing (Q4 2025)
| Ticker / Security Name | Shares (MM) | Δ Shares (%) | Value (Full $) | Portfolio (%) |
|---|---|---|---|---|
| GOOGL / Alphabet Inc. (Class A) | 2.54 | 0.00% | $796,050,000 | 22.30% |
| GOOG / Alphabet Inc. (Class C) | 2.45 | 0.00% | $769,220,000 | 21.55% |
| BAC / Bank of America Corporation | 10.43 | 0.00% | $573,730,000 | 16.07% |
| PDD / PDD Holdings Inc. (Pinduoduo) | 4.61 | 0.00% | $522,500,000 | 14.64% |
| BRK.B / Berkshire Hathaway Inc. | 0.90 | 0.00% | $451,250,000 | 12.64% |
| EWBC / East West Bancorp, Inc. | 2.78 | 0.00% | $312,030,000 | 8.74% |
| OXY / Occidental Petroleum Corporation | 1.47 | 0.00% | $60,300,000 | 1.68% |
| CROX / Crocs, Inc. | 0.63 | NEW | $53,720,000 | 1.50% |
| AAPL / Apple Inc. | 0.11 | 0.00% | $30,070,000 | 0.84% |
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