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Himalaya Capital

Q3 2025 13F · by Li Lu, portfolio manager

As of
Sep 30, 2025
Filed
Nov 12, 2025
US stock
$3.2B · prev $2.7B
Positions
9 · prev 9
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves

First filing on record. Nothing to compare against.

The book

Very concentrated · behaves like 6 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 0.0% a year

  1. Low
  2. Moderate
  3. High

Top 5 positions87% of US stock

  1. GOOGL Alphabet Inc. Class A held held19.1%
  2. PDD PDD Holdings Inc. held held18.9%
  3. GOOG Alphabet Inc. Class C held held18.5%
  4. BAC Bank of America Corporation held held16.7%
  5. BRK.B BERKSHIRE HATHAWAY Class B held held14.0%

Positions9 in this filing · 0 exited

GOOGLAlphabet Inc. Class A19.14%2,543,300$618Mheld—14 q
PDDPDD Holdings Inc.18.85%4,608,000$609Mheld—2 q
GOOGAlphabet Inc. Class C18.48%2,451,300$597Mheld—22 q
BACBank of America Corporation16.66%10,431,387$538Mheld—23 q
BRK.BBERKSHIRE HATHAWAY Class B13.97%897,749$451Mheld—17 q
EWBCEast-West Bancorp Inc9.15%2,776,351$296Mheld—11 q
OXYOccidental Petroleum Corporation2.15%1,466,500$69Mheld—6 q
AAPLApple Inc.0.87%110,600$28Mheld—20 q
SOCSable Offshore Corp.0.73%1,343,000$23Mheld—5 q

Source

Form
13F-HR
Reading
0 defects · 0 unresolved
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet