Warren Buffett vs Li Lu
Warren Buffett discloses $299.25B across 29 positions as of 2026Q2; Li Lu (Himalaya Capital Management) discloses $3.70B across 8 as of 2026Q2. They overlap on 3 holdings.
| Metric | Buffett | Li Lu |
|---|---|---|
| Disclosed portfolio | $299.25B | $3.70B |
| Positions | 29 | 8 |
| Top-5 concentration | 69% | 95% |
| Latest filing | 2026Q2 · Aug 14, 2026 | 2026Q2 · Aug 14, 2026 |
| Cloning this 13F returned | 11.3%/yr over 12.2 yrs | 12.5%/yr over 9.1 yrs |
| S&P 500, same window | 13.8%/yr | 14.7%/yr |
Clone returns replicate each manager's 13F at reported weights with the real disclosure lag; the S&P 500 figure beneath is measured over that manager's identical window (SPY total return). Because each manager has a different amount of 13F history, the two columns cover different spans — compare each manager against their own benchmark row, not across columns. Methodology.
Where they agree
Where they diverge
Buffett's largest holding that Li Lu doesn't own: AXP at 17.1% of the book. Li Lu's largest holding Buffett doesn't own: PDD at 22.2%.
From SEC EDGAR Form 13F-HR filings (2026Q2 / 2026Q2). Long US-listed equities only — cash, shorts, bonds, and non-US positions are not disclosed, and both managers' real books extend beyond what a 13F shows. Not investment advice.