Himalaya Capital
Manager: Li Lu
Himalaya Capital Management LLC · CIK 0001709323 · Form 13F-HR · Accession 0002043585-26-000022
Reported Equity Holdings (USD)
$4.4bn
8 positions · mainly 13F (+ Non-US where noted)
Form ADV RAUM — Himalaya Capital Management LLC
$21.4bn
as of 31 Dec 2025 (ADV Item 5.F; annual updating amendment signed 31 Mar 2026) · form_adv
Shown (≥1%)
7
13F combined (8 → 8) · 1 under 1% hidden
USDHKD (daily)
7.8413
as of 23 Oct 2026 · Yahoo Finance
Largest weights: Alphabet Inc. 40.5%, PDD Holdings (ADR) 18.7%, Postal Savings Bank of China Co., Ltd. — H Shares 15.5%. Sorted by USD value. HKD positions converted to USD at USDHKD 7.8413 as of 23 Oct 2026. FX + local price refreshed on each build (share count stays as-of the HKEX DI).
Reported Equity Holdings USD
1 name under 1% hidden (still included in Reported Equity Holdings). Weights vs full book — visible weights may sum to under 100%.
Alphabet: GOOGL (Class A) + GOOG (Class C) combined into one line — voting-rights difference ignored for weights.
| # | Issuer | Ticker / listing | CCY | Value (USD) | Weight | Source | As of | Notes |
|---|---|---|---|---|---|---|---|---|
| 1 | Alphabet Inc. |
GOOGL+GOOG · Nasdaq | USD | $1,775.0m | 40.5% | 13F | 13F — 30 Jun 2026 | Class A (GOOGL) + Class C (GOOG) combined into one line (2 13F equity classes; voting rights ignored). Values summed as filed. |
| 2 | PDD Holdings (ADR) |
PDD · Nasdaq | USD | $820.9m | 18.7% | 13F | 13F — 30 Jun 2026 | SPON ADS US-listed sponsored ADR on 13F (China-related issuer). |
| 3 | Postal Savings Bank of China Co., Ltd. — H Shares |
01658 · Hong Kong (HKEX H) | HKD | $678.1m est. |
15.5% | HKEX DI | HKEX DI — 8 May 2025 (HKEX DI event date — dated; last primary share count) | 985,618,000 H shares (4.96%) after sale of 10,387,000 @ avg HKD 4.7551 on event 08/05/2025 (reason 1704 — ceased notifiable interest / fell below 5%). No later primary DI found; absent from current SS list as of 2026-10-15 search — current residual after 8 May 2025 is unknown. Stake 4.96% of H shares. Est. USD via 985,618,000 × HKD 5.39 (2026-10-23) ÷ FX 7.8413 (2026-10-23). Share count / ownership % as-of 8 May 2025 (HKEX DI event date — dated; last primary share count); price + FX refreshed to live mark (2026-10-24). |
| 4 | Berkshire Hathaway |
BRK.B · NYSE | USD | $554.6m | 12.7% | 13F | 13F — 30 Jun 2026 | CL B NEW |
| 5 | East West Bancorp |
EWBC · Nasdaq | USD | $358.4m | 8.2% | 13F | 13F — 30 Jun 2026 | COM |
| 6 | Crocs, Inc. |
CROX · Nasdaq | USD | $107.0m | 2.4% | 13F | 13F — 30 Jun 2026 | COM |
| 7 | Tencent Music Entertainment (ADR) |
TME · NYSE | USD | $55.0m | 1.3% | 13F | 13F — 30 Jun 2026 | SPON ADS US-listed sponsored ADR on 13F (China-related issuer). |
Methodology
- One book: All weights in USD. Reported Equity Holdings = Himalaya Capital Management LLC 13F-HR reported values (same-issuer/CUSIP/class/put-call rows aggregated) + Non-US estimated USD (PSBC H shares × live HKEX close ÷ live HKD/USD; share count as-of 8 May 2025 DI). Alphabet Class A (GOOGL) and Class C (GOOG) combined into one line (voting rights ignored).
- US 13F: Himalaya Capital Management LLC (CIK 0001709323) Form 13F-HR. Period end 30 Jun 2026, filed 14 Aug 2026. Manager: Li Lu. Schema X0202 whole USD ($3.7bn).
- Enrichment: Book from SEC 13F-HR filed by Himalaya Capital Management LLC (CIK 0001709323), managed by Li Lu, plus one Non-US line: Postal Savings Bank of China H (HKEX:01658) from HKEX Disclosure of Interests — 985,618,000 H shares (4.96%) as of event 8 May 2025 (dated; last primary share count after falling below 5%). Firm site himcap.com states Asia + North America focus but publishes no holdings list. Form ADV Item 5.F RAUM (~$21.4bn YE 2025) still far exceeds the combined equity book (~$4.4bn) — residual gap = other Asia / non-13F securities not issuer-disclosed. Non-US hunt: data/_research/himalaya-2026-10-15.md.
- Non-US: Postal Savings Bank of China H (01658): share count 985,618,000 (HKEX DI 8 May 2025) × live HKD close ÷ live HKD/USD on each refresh (≈ $678m estimated). Share count from HKEX DI Form 2 CS20250513E00011 (event 08/05/2025; fell to 4.96%). Ownership %/shares dated — no later primary DI. PDD and Tencent Music ADRs remain in the 13F book only.
- Filer note: Display name Himalaya Capital; legal 13F filer Himalaya Capital Management LLC.
- Mixed as-of: US 13F as of period end 30 Jun 2026. PSBC H Non-US stake as of HKEX DI event 8 May 2025 (dated share count — last primary DI; price + FX refreshed on each build).
- Reported AUM: Firm / strategy AUM from the manager's site or Form ADV where cited on this page — separate from Reported Equity Holdings.
- Shares / Discretion / Vote columns omitted. Value shown as USD market value ($m, 1 decimal, e.g. $17,700.0m). Weight to 1 decimal.
- Table shows positions with weight ≥ 1.0% only; names under 1% are hidden but still included in Reported Equity Holdings (USD) and the weight denominator.
- Raw data: EDGAR 13F · portfolio_combined.json · holdings.json