9AT: HIMALAYA CAPITAL

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 11/04/2011
ADV Location	SEATTLE, WA, United States
Contact Info	(20 xxxxxxx
Websites

AUM^*	21,392,207,523 43%
of that, discretionary	21,392,207,523 43%
Number of Employees	21 11%
of those in investment advisory functions	15
Private Fund GAV^*	21,392,207,523 24%
Avg Account Size	10,696,103,762 43%
SMA’s	No
Private Funds	2

Adviser Type

- Large advisory firm

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- Performance-based fees

	Count	GAV
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Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser RAYMOND JAMES INVESTMENT MANAGEMENT	Hedge Fund362.4k	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV362.4k	AUM16.9b	#Funds5
Adviser APPALOOSA LP	Hedge Fund20.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV20.4b	AUM20.4b	#Funds3
Adviser CENTIVA CAPITAL, LP	Hedge Fund20.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV20.6b	AUM20.6b	#Funds3
Adviser DURABLE CAPITAL PARTNERS LP	Hedge Fund18.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV18.4b	AUM17.6b	#Funds7
Adviser DRA ADVISORS LLC	Hedge Fund15.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV15.2b	AUM14.4b	#Funds23
Adviser AKRE CAPITAL MANAGEMENT, LLC	Hedge Fund2.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.5b	AUM11.8b	#Funds3
Adviser UBS OCONNOR LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM13.8b	#Funds-
Adviser GENERATION INVESTMENT MANAGEMENT US LLP	Hedge Fund7.9b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV7.9b	AUM10.5b	#Funds3
Adviser PERSHING SQUARE CAPITAL MANAGEMENT, L.P.	Hedge Fund19.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund25.4m	Total Private Fund GAV19.4b	AUM25.1b	#Funds4
Adviser BLACKSTONE CREDIT SYSTEMATIC STRATEGIES LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM35.7b	#Funds13

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker02079K305	Stock NameALPHABET INC	$ Position$908,899,121	% Position25.00%	$ Change24.00%	# Change0.00%
Stck Ticker02079K107	Stock NameALPHABET INC	$ Position$866,117,829	% Position23.00%	$ Change23.00%	# Change0.00%
Stck Ticker722304102	Stock NamePDD HOLDINGS INC	$ Position$820,858,157	% Position22.00%	$ Change74.00%	# Change134.00%
Stck Ticker084670702	Stock NameBERKSHIRE HATHAWAY INC DEL	$ Position$554,591,244	% Position15.00%	$ Change29.00%	# Change23.00%
Stck Ticker27579R104	Stock NameEAST WEST BANCORP INC	$ Position$358,399,151	% Position10.00%	$ Change21.00%	# Change0.00%
Stck Ticker227046109	Stock NameCROCS INC	$ Position$107,018,900	% Position3.00%	$ Change45.00%	# Change0.00%
Stck Ticker037833100	Stock NameAPPLE INC	$ Position$32,003,216	% Position1.00%	$ Change14.00%	# Change0.00%
Stck Ticker88034P109	Stock NameTENCENT MUSIC ENTERTAINM	$ Position$55,033,481	% Position1.00%	$ Change-10.00%	# Change0.00%

Brochure Summary

Overview

A. Himalaya Capital is a Delaware limited liability company founded in 1997. Li Lu (the “Portfolio Manager”) controls and is the principal owner of Himalaya Capital. References to “we,” “us,” or “our” herein refer to Himalaya Capital and its affiliates. B. We provide investment management services to a single mini-master fund structure comprised of Himalaya Capital Investors, L.P. (the “Master Fund”), a Delaware limited partnership formerly known as LL Investment Partners, L.P., and Himalaya Capital Investors (Offshore), L.P. (the “Offshore Feeder Fund,” collectively with the Master Fund, “HCI”), a Cayman Islands exempted limited partnership, whereby the Offshore Feeder Fund invests substantially all of its investable assets into the Master Fund. LL Group, LLC and LL Group (Offshore), LLC serve as the General Partners (each, a “GP”, and collectively “GPs”) of the Master Fund and the Offshore Feeder Fund, respectively. Both of the GPs are Delaware limited liability companies

under common control with Himalaya Capital. C. We manage HCI’s investments in accordance with investment objectives set forth in HCI’s Limited Partnership Agreements (“LPAs”). The investment management services Himalaya Capital provides to HCI includes control over HCI’s investment decisions, execution of discretionary trades in a manner consistent with HCI’s investment strategies, and arrangement and execution of certain administrative duties, including arranging for an annual financial audit and contracting with a fund administrator and other duties. HCI’s investors are admitted as limited partners (“Limited Partners”) but are not considered our clients. We generally do not provide any individualized investment advice or tailor our advisory services to the needs of Limited Partners. D. Himalaya Capital does not participate in wrap fee programs. E. As of December 31, 2023, we managed approximately $14,985,604,000 in regulatory assets under management on a discretionary basis.

HIMALAYA CAPITAL

HIMALAYA CAPITAL

HIMALAYA MANAGEMENT LLC

HIMALAYA CAPITAL MANAGEMENT LLC

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Top Holdings

Brochure Summary

Overview

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HIMALAYA CAPITAL HIMALAYA CAPITAL HIMALAYA MANAGEMENT LLC HIMALAYA CAPITAL MANAGEMENT LLC

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Top Holdings

Brochure Summary

Overview

HIMALAYA CAPITAL

HIMALAYA CAPITAL

HIMALAYA MANAGEMENT LLC

HIMALAYA CAPITAL MANAGEMENT LLC