What We Do

about us
Himalaya Capital was founded by Mr. Li Lu in 1997.

We embrace the value investment principles of Benjamin Graham, Warren Buffett, and Charles Munger, and today primarily focus on publicly traded companies in Asia, with an emphasis on China.  We aim to achieve superior returns by being long-term owners of high quality companies with substantial “economic moat”, great growth potential, and run by trust-worthy people.  Some of our holdings date back to our inception twenty years ago.

about us
Himalaya Capital was founded by Mr. Li Lu in 1997.

We embrace the value investment principles of Benjamin Graham, Warren Buffett, and Charles Munger, and today primarily focus on publicly traded companies in Asia, with an emphasis on China.  We aim to achieve superior returns by being long-term owners of high quality companies with substantial “economic moat”, great growth potential, and run by trust-worthy people.  Some of our holdings date back to our inception twenty years ago.

Our client base consists mainly of university endowments, foundations, family offices, individuals, and pension plans.

Our partnership is generally closed to new partners, but we selectively hold discussions with referrals of current partners.

Investment Philosophy

We are business owners.

“In making investments, I have always believed that you must act with discipline whenever you see something you truly like. To explain this philosophy, Buffett/Munger likes to use a baseball analogy that I find particularly illuminating, though I myself am not at all a baseball expert. Ted Williams is the only baseball player who had a .400 single-season hitting record in the last seven decades. In the Science of Hitting, he explained his technique. He divided the strike zone into seventy-seven cells, each representing the size of a baseball. He would insist on swinging only at balls in his ‘best’ cells, even at the risk of striking out, because reaching for the ‘worst’ spots would seriously reduce his chances of success. As a securities investor, you can watch all sorts of business propositions in the form of security prices thrown at you all the time. For the most part, you don’t have to do a thing other than be amused. Once in a while, you will find a ‘fat pitch’ that is slow, straight, and right in the middle of your sweet spot. Then you swing hard. This way, no matter what natural ability you start with, you will substantially increase your hitting average. One common problem for investors is that they tend to swing too often. This is true for both individuals and for professional investors operating under institutional imperatives, one version of which drove me out of the conventional long/short hedge fund operation. However, the opposite problem is equally harmful to long-term results: You discover a ‘fat pitch’ but are unable to swing with the full weight of your capital.”
—Li Lu
(Poor Charlie’s Almanack, 3rd Edition 2009, Page 61)

“In making investments, I have always believed that you must act with discipline whenever you see something you truly like. To explain this philosophy, Buffett/Munger likes to use a baseball analogy that I find particularly illuminating, though I myself am not at all a baseball expert. Ted Williams is the only baseball player who had a .400 single-season hitting record in the last seven decades. In the Science of Hitting, he explained his technique. He divided the strike zone into seventy-seven cells, each representing the size of a baseball. He would insist on swinging only at balls in his ‘best’ cells, even at the risk of striking out, because reaching for the ‘worst’ spots would seriously reduce his chances of success.

As a securities investor, you can watch all sorts of business propositions in the form of security prices thrown at you all the time. For the most part, you don’t have to do a thing other than be amused. Once in a while, you will find a ‘fat pitch’ that is slow, straight, and right in the middle of your sweet spot. Then you swing hard. This way, no matter what natural ability you start with, you will substantially increase your hitting average. One common problem for investors is that they tend to swing too often. This is true for both individuals and for professional investors operating under institutional imperatives, one version of which drove me out of the conventional long/short hedge fund operation. However, the opposite problem is equally harmful to long-term results: You discover a ‘fat pitch’ but are unable to swing with the full weight of your capital.”
—Li Lu
(Poor Charlie’s Almanack, 3rd Edition 2009, Page 61)

Management

Li Lu

Li Lu is the founder and Chairman of Himalaya Capital, a multi-billion-dollar investment firm that primarily focuses on long-term investment opportunities in Asia and the U.S.  He has been sole portfolio manager continuously since January 1, 1998.

Li Lu was born and raised in China. He attended Columbia University, where he received three degrees simultaneously: B.A. in Economics from Columbia College, J.D. from Columbia Law School, and M.B.A. from Columbia Business School.

Li Lu currently serves as a member of the Board of Trustees of Columbia University and a member of the Board of Trustees of California Institute of Technology (Caltech). In January 2020, Li Lu co-founded the Guardians of the Angeles Charitable Foundation to combat the global COVID-19 crisis and now serves as Chairman of the Board of the Foundation.

Li Lu was elected to the American Academy of Arts and Sciences in 2020.

He is featured in the Family of Voices, a part of the ongoing twenty-year Exhibition, starting in 2017, “Many Voices, One Nation” at the Smithsonian National Museum of American History. He is the author of "Moving The Mountain--My Life in China" and "Civilization, Modernization, Value Investing, and China" (in Chinese 2020).



Our Core Values

01.
Honesty

We tell the truth to the best of our knowledge. We tell what we know and more importantly what we don’t know.

02.
Accountability

We work hard to keep our promises so that our investors, co-workers, investee companies and business partners can depend on us.

03.
Integrity

We keep the highest standards of business ethics and professionalism.

04.
Meritocracy

We work hard and try our best to deliver the highest quality of work.

05.
Confidentiality

We safeguard confidential information and respect the privacy of our investors, co-workers, investee companies and business partners.

06.
Loyalty

We are loyal to our investors, co-workers, investee companies and business partners. We operate in a seamless web of deserved trust.

News

Publications

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Contact Us

address

1301 2nd Ave Suite 2100
Seattle, WA 98101 USA

PHONE

1-206-707-0768

fax

1-206-707-0770

email
Investor Relations:

ir@himcap.com

Employment Opportunities:

hr@himcap.com

All Other Inquiries:

info@himcap.com