Li Lu portfolio against fair value
Value investor whom Charlie Munger backed for decades. Holdings from Himalaya Capital's 13F filing for Q2 2026, filed Aug 14, 2026. Fair value and quality as of Nov 8, 2026.
Of the 8 stocks we value in Himalaya Capital' 13F filing for Q2 2026, 6 trade below our fair value (as of Nov 8, 2026).
Adds the largest valued positions, as many as fit on your watchlist: 5 without an account, 10 with a free account, all with Pro.
All Himalaya Capital stocks with fair value
more than 10% below fair value (cheap)near fair value (±10%)more than 10% above fair value (expensive)
| Holding | Weight | vs prior qtr | vs fair value | Quality |
|---|---|---|---|---|
| Alphabet Inc Class A GOOGLunchanged | 24.6 % | unchanged | 9.9 % below FV | 68 |
| Alphabet Inc Class C GOOGunchanged | 23.4 % | unchanged | 10.2 % below FV | 68 |
| PDD Holdings Inc. PDD+134 % vs prior qtr | 22.2 % | +134 % | 66.7 % below FV | 69 |
| Berkshire Hathaway Inc BRK-B+24 % vs prior qtr | 15.0 % | +24 % | FV 30.5 % lower | 57 |
| East West Bancorp Inc EWBCunchanged | 9.7 % | unchanged | FV 34.1 % lower | 59 |
| Crocs Inc CROXunchanged | 2.9 % | unchanged | 30.9 % below FV | 63 |
| Tencent Music Entertainment Group TMEunchanged | 1.5 % | unchanged | 49.7 % below FV | 71 |
| Apple Inc AAPLunchanged | 0.9 % | unchanged | 9.6 % below FV | 83 |
"Weight" is the share of the total reported value. "Vs prior qtr" compares the share count with the previous filing. "Not covered" means we could not match this position to one of our stocks with two independent sources, so we show no value.
Bought and sold in Q2 2026
Sold out:
- Bk Of America Corp
- Occidental Pete Corp
- S&p Global Inc
- Block H & R Inc
- Moodys Corp
- Msci Inc
Frequently asked questions
What stocks does Li Lu own?
According to Himalaya Capital' 13F filing for Q2 2026 (filed Aug 14, 2026), the five largest positions are Alphabet Inc Class A (24.6 %), Alphabet Inc Class C (23.4 %), PDD Holdings Inc. (22.2 %), Berkshire Hathaway Inc (15.0 %), East West Bancorp Inc (9.7 %). In total the filing lists 8 stocks worth $3.7 bn.
Which Li Lu stocks trade below fair value?
6 of the 8 stocks we value. The largest of them: Alphabet Inc Class A: 10% below fair value; Alphabet Inc Class C: 10% below fair value; PDD Holdings Inc.: 67% below fair value; Crocs Inc: 31% below fair value; Tencent Music Entertainment Group: 50% below fair value. As of Nov 8, 2026, not financial advice.
How current is this list?
Large US investment managers report their US stock holdings to the SEC once a quarter (Form 13F), at the latest 45 days after quarter end. This list shows Q2 2026, filed Aug 14, 2026. Himalaya Capital may have bought or sold since. We recalculate our fair value daily, last on Nov 8, 2026.
Source of the holdings: 13F filing with the SEC (Himalaya Capital, CIK 1709323). A 13F covers only US-listed stocks, options and certain bonds, no short positions and no foreign shares. Fair value and quality are our valuation and do not account for your personal situation.