2026 · Documented public record
SEC 13F (via trackers)
Decision — Disclosed new 6,153,119-share PDD block (~$469M). Context: 13F filed Aug 14, 2026; 8 US holdings. Outcome (partial): Open — newly disclosed.
Li Lu
16 SOURCES4 INDEXED REFERENCES1997–2026
Framework-grade public voice: the Dec 2024 PKU keynote “Global Value Investing in Our Era,” the 2015 “The Prospect of Value Investing in China,” the Munger eulogy, the 2006 Columbia masterclass (faithful transcript), and
THE RECORD
Framework-grade public voice: the Dec 2024 PKU keynote “Global Value Investing in Our Era,” the 2015 “The Prospect of Value Investing in China,” the Munger eulogy, the 2006 Columbia masterclass (faithful transcript), and a 12,490-word Zhenghe Island interview translation. The sheet’s “no regulatory sources” verdict was wrong — Himalaya files quarterly 13Fs.
SELECTED PUBLIC REFERENCES
2010 · Documented public record
PKU 2024 keynote + 13F trackers
Decision — Built the Alphabet/US mega-cap book alongside Asia. Context: PKU 2024 keynote describes current positioning. Outcome (known): US sleeve visible in 13F filings (~$3.2B).
2008 · Documented public record
CNBC (Munger account)
Decision — Introduced BYD to Munger; Berkshire bought ~10% (~$230M). Context: 225M H-shares at ~HK$8; “Munger deserves 100 percent of the credit.” Outcome (known): Multi-bagger anchor position; BYD held “about 22 years” per the 2024 interview.
1997 · Documented public record
2006 CBS lecture (Roiss transcript)
Decision — Converted long/short fund to long-only after a near-death experience. Context: His own account: PCA p.61 + the 2006 Columbia lecture. Outcome (known): Long-only concentration discipline became the core philosophy; Munger’s ~$88M entrustment followed.
CONNECTED INVESTORS
Li shares documented ground with the investors below — themes both return to, companies both discuss. The strength comes from the indexed passages themselves.
Benjamin Graham
2 SHARED THEMES
François Rochon
2 SHARED THEMES
Howard Marks
2 SHARED THEMES
John Bogle
2 SHARED THEMES
Mohnish Pabrai
2 SHARED THEMES
Nicholas Sleep
2 SHARED THEMES
Robert Vinall
2 SHARED THEMES
Seth Klarman
2 SHARED THEMES
EXPLORE NEXT
TOP THEMES
TOP COMPANIES
Companies appear once the collection lands.