Li Lu's Himalaya Capital: Alphabet Dominance in March 2026 Portfolio
Himalaya Capital's Li Lu maintains a heavily concentrated portfolio as of March 31, 2026, with Alphabet Inc. comprising nearly half of the holdings.
Introduction
The portfolio managed by Li Lu at Himalaya Capital Management, as of March 31, 2026, exhibits a pronounced concentration in technology stocks, particularly Alphabet Inc. (GOOGL/GOOG), which together account for approximately 44.82% of the total portfolio value.
Top Holdings Analysis
The largest position is Alphabet Inc. (GOOGL), representing 22.85% of the portfolio with a total stock value of $731.35 million. This is followed closely by Alphabet Inc. (GOOG) at 21.97% ($703.18 million). These two holdings alone constitute nearly half (44.82%) of the entire portfolio, highlighting a significant concentration in large-cap technology companies.
- Bank of America Corp (BAC): Holds 4.57% ($146.15 million), showing a substantial decrease in shares (-71.26%) from the previous period.
- Crocs Inc (CROX): A relatively new addition, representing 2.30% ($73.65 million), with shares increasing by 41.22%.
- Tencent Music Entertainment (TME): Holds 1.91% ($61.16 million), with shares increasing by 100% from the previous period.
- S&P Global (SPGI): Holds 1.61% ($51.66 million), with shares increasing by 100%.
- Block H & R Inc (HRB): Holds 1.61% ($51.64 million), with shares increasing by 100%.
- Moodys Corp (MCO): Holds 1.61% ($51.38 million), with shares increasing by 100%.
- MSCI Inc (MSCI): Holds 0.32% ($10.21 million), with shares increasing by 100%.
Strategic Focus and Sector Allocation
The portfolio's allocation underscores a strategic focus on the Financial Services sector, which includes Bank of America (BAC) and several other holdings like S&P Global (SPGI), Moodys Corp (MCO), and MSCI Inc (MSCI). Collectively, these Financial Services holdings represent approximately 12.96% of the portfolio value. However, the most significant allocation is clearly in the Communication Services sector, dominated by Alphabet Inc. (GOOGL/GOOG) which accounts for 44.82% of the portfolio. Other sectors represented include Consumer Cyclical (CROX, HRB) and Financial Services (BAC, SPGI, MCO, MSCI).
Conclusion
Li Lu's Himalaya Capital portfolio, as of March 31, 2026, is characterized by a strong concentration in Alphabet Inc. (GOOGL/GOOG) and a significant allocation to Financial Services holdings. The strategy appears to favor large-cap technology and established financial services firms. Recent additions or increases in holdings like CROX, TME, SPGI, HRB, MCO, and MSCI, alongside the substantial reduction in BAC, suggest an active management style focused on capitalizing on specific opportunities within these sectors.