Manager Evidence

What did Li Lu actually do?

A source-backed history of material decisions from Himalaya Capital Management. We preserve the sequence and observed outcomes instead of compressing judgment into a guru grade.

Material decisions: 12
Stocks observed: 6
Outcomes observed: 12

Each outcome preserves the stock’s post-disclosure excess return over the fixed observation window. The evidence stays decision-level; it is not rolled into a manager score.

Observed decisions and outcomes

Q2 2026
filed Aug 14, 2026
45d lag
PDDADD+133.5%
Li Lu · 22.2% of reported portfolio
Original SEC filing ↗
-13.2% vs SPY
34 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 14, 2026
45d lag
BRK/BADD+23.5%
Li Lu · 15.0% of reported portfolio
Original SEC filing ↗
+1.0% vs SPY
34 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 14, 2026
45d lag
BACEXITEXIT
Li Lu · 4.6% of reported portfolio
Original SEC filing ↗
-15.3% vs SPY
34 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 14, 2026
45d lag
SPGIEXITEXIT
Li Lu · 1.6% of reported portfolio
Original SEC filing ↗
-5.5% vs SPY
34 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 14, 2026
45d lag
MCOEXITEXIT
Li Lu · 1.6% of reported portfolio
Original SEC filing ↗
-7.4% vs SPY
34 sessions after disclosure
direction supported so far
Q1 2026
filed May 15, 2026
45d lag
BACTRIM-71.3%
Li Lu · 16.1% of reported portfolio
Original SEC filing ↗
+21.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
MCONEWNEW
Li Lu · 1.6% of reported portfolio
Original SEC filing ↗
+3.0% vs SPY
63 sessions after disclosure
direction supported so far
Q2 2025
filed Aug 14, 2025
45d lag
BACTRIM-24.7%
Li Lu · 26.1% of reported portfolio
Original SEC filing ↗
+9.4% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 14, 2025
45d lag
PDDNEWNEW
Li Lu · 17.9% of reported portfolio
Original SEC filing ↗
+7.9% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 15, 2025
45d lag
BACTRIM-23.4%
Li Lu · 29.3% of reported portfolio
Original SEC filing ↗
-3.0% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 15, 2025
45d lag
AAPLTRIM-65.2%
Li Lu · 2.9% of reported portfolio
Original SEC filing ↗
+1.1% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Nov 14, 2024
45d lag
AAPLTRIM-58.2%
Li Lu · 6.2% of reported portfolio
Original SEC filing ↗
+4.0% vs SPY
63 sessions after disclosure
direction not supported so far

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The evidence is limited to selected widely owned U.S.-listed securities in Form 13F filings. Filing dates can trail quarter end by up to 45 days in the normal reporting cycle, and the filings do not disclose transaction dates, prices, or intent.