Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供背景参考 · 非买入清单
Himalaya Capital (Li Lu)
superinvestor_value
A
Reliability stable可靠性稳定
leaderboard rank榜单排名 #2
Book持仓规模
$3.2B
long US listed only仅美股多头
Positions持仓数
14
100% resolved已解析
Top-10 concentration前十集中度
97%
% of book占组合%
Turnover换手
LOW
16.7% per quarter每季
Median excess中位超额
+13%
buys vs SPY, since filing买入相对SPY，自申报起 · n 10
Hit rate胜率
80%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: Financials (Equal-Weight) — added SPGI, MCO, MSCI (+3.5pp of book this quarter)核心倾向：金融（等权） — 本季度加仓 SPGI、MCO、MSCI（占组合 +3.5pp）
Financials (Equal-Weight)金融（等权）
+3.5pp
21.6% of book held占组合持有
· 5 names标的
· US Sectors (EW)
SPGI
MCO
MSCI
MusicMusic
+1.9pp
1.9% of book held占组合持有
· 1 names标的
· Digital Entertainment
TME
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新申报的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开申报日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: stable稳定 · 1 scored quarters已评分季度 · 100% positive为正 · recent-4 median近4季中位 +13% vs all-time对全期 +13%
Median excess by quarter各季度中位超额: ▄ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2026-03-31 | 6 | +13% | 100% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新申报；季度环比变化对上季Current weights当前权重 · 2026-03-31
Communication Services
44.8%
▲ +0.9pp
Financial
21.5%
▼ -7.2pp
Unclassified
16.6%
▲ +2.0pp
Financials
9.3%
▲ +0.5pp
Consumer Discretionary
3.9%
▲ +2.4pp
Energy
3.0%
▲ +1.3pp
Technology
0.9%
▲ +0.0pp
Theme categories主题类别
US Sectors (EW) 43.5%
AI & Technology 23.7%
Financials 9.3%
Energy & Power 3.0%
Rotating into (QoQ)轮入（环比）
Consumer Discretionary +2.4pp
Energy +1.3pp
Communication Services +0.9pp
Rotating out of (QoQ)轮出（环比）
Financial -7.2pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-03-31 | Communication Services 45% · Financial 22% · Unclassified 17% |
| 2025-12-31 | Communication Services 44% · Financial 29% · Unclassified 15% |
| 2025-09-30 | Communication Services 38% · Financial 31% · Unclassified 20% |
| 2025-06-30 | Financial 35% · Communication Services 33% · Unclassified 19% |
| 2025-03-31 | Financial 48% · Communication Services 35% · Financials 11% |
| 2024-12-31 | Financial 44% · Communication Services 39% · Financials 10% |
| 2024-09-30 | Financial 46% · Communication Services 38% · Financials 9% |
| 2024-06-30 | Financial 42% · Communication Services 40% · Financials 8% |
| 2024-03-31 | Financial 47% · Communication Services 37% · Financials 10% |
| 2023-12-31 | Financial 45% · Communication Services 38% · Financials 10% |
| 2023-09-30 | Financial 44% · Communication Services 40% · Financials 8% |
| 2023-06-30 | Financial 46% · Communication Services 38% · Technology 8% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至申报日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。14 positions shown项持仓 · resolved已解析 14/14 (100%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自申报 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  GOOGL |
Alphabet Inc | 22.9% | $731M | hold | +4% | — | 70 · HIGH | Communication Services | Magnificent Seven, AI Software & Platforms, Quantum Computing | -12% |
| 2 |  GOOG |
Alphabet Inc | 22.0% | $703M | hold | -4% | — | 68 · MODERATE | Communication Services | Communication Services (Equal-Weight) | -12% |
| 3 |  PDD |
Pdd Holdings Inc | 14.7% | $471M | hold | +0% | — | 65 · MODERATE | — | E-Commerce, Platforms | -11% |
| 4 |  BRK-B |
Berkshire Hathaway Inc Del | 13.4% | $430M | hold | +0% | — | 62 · MODERATE | Financial | Financials (Equal-Weight) | -1% |
| 5 |  EWBC |
East West Bancorp Inc | 9.3% | $296M | hold | +0% | — | 60 · MODERATE | Financials | Regional Banks | +9% |
| 6 |  BAC |
Bk Of America Corp | 4.6% | $146M | trim | -71% | — | 48 · MODERATE | Financial | Financials (Equal-Weight) | +23% |
| 7 |  OXY |
Occidental Pete Corp | 3.0% | $95M | hold | +0% | — | 45 · MODERATE | Energy | US Energy Complex, Energy (Equal-Weight) | -12% |
| 8 |  CROX |
Crocs Inc | 2.3% | $74M | add | +41% | 2q | 52 · MODERATE | Consumer Discretionary | — | +38% |
| 9 | TME |
Tencent Music Entmt Group | 1.9% | $61M | new | — | 1q | 35 · LOW | — | Music | +8% |
| 10 | SPGI |
S&p Global Inc | 1.6% | $52M | new | — | 1q | 32 · LOW | Financial | Financials (Equal-Weight) | +19% |
| 11 |  HRB |
Block H & R Inc | 1.6% | $52M | new | — | 1q | 18 · LOW | Consumer Discretionary | — | +10% |
| 12 | MCO |
Moodys Corp | 1.6% | $51M | new | — | 1q | 18 · LOW | Financial | Financials (Equal-Weight) | +16% |
| 13 |  AAPL |
Apple Inc | 0.9% | $28M | hold | +0% | — | 15 · LOW | Technology | Magnificent Seven, Technology (Equal-Weight) | +9% |
| 14 | MSCI |
Msci Inc | 0.3% | $10M | new | — | 1q | 8 · LOW | Financial | Financials (Equal-Weight) | +9% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本申报周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (6)
| CROX add |
2.3% | +38% |
| TME new |
1.9% | +8% |
| SPGI new |
1.6% | +19% |
| HRB new |
1.6% | +10% |
| MCO new |
1.6% | +16% |
| MSCI new |
0.3% | +9% |
Rotated out of轮出 (1)
| BAC trim |
-71% | +23% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以申报日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, long-only US listed ≥$100M. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量申报日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。