SEC 13F Intelligence

Managers / Q1 2026

Rheos Capital Works Inc.

CIK 0001735445 · 1-11-1, MARUNOUCHI CHIYODA-KU, TOKYO, M0, 100-6227 · 81-3-6266-0124

Reported Value
$1.5B
Q1 2026
Positions
73
Filings on Record
29
2019–present window
Filed
May 8, 2026
original filing

Summary

Rheos Capital Works Inc. reported $1.5B in U.S.-listed holdings across 73 positions for Q1 2026.

Its largest position, RACE, represents 5.2% of the portfolio.

Compared with Q4 2025, the fund opened 20 new positions and exited 14.

Portfolio Metrics

Turnover
+29.6%
vs prior filed quarter
Top-10 Concentration
+32.5%
share of reported value
Largest Position
+5.2%
Ferrari
New / Exited
20 / 14
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $822MQ1 ’19Q2 ’19: $747MQ3 ’19: $879MQ4 ’19: $971MQ1 ’20: $943MQ1 ’20Q2 ’20: $1.4BQ3 ’20: $1.2BQ4 ’20: $1.4BQ1 ’21: $1.5BQ1 ’21Q2 ’21: $2.0BQ3 ’21: $1.9BQ4 ’21: $2.3BQ1 ’22: $2.1BQ1 ’22Q2 ’22: $1.3BQ3 ’22: $1.5BQ4 ’22: $1.7BQ1 ’23: $1.8BQ1 ’23Q2 ’23: $1.9BQ3 ’23: $1.7BQ4 ’23: $1.8BQ1 ’24: $2.1BQ1 ’24Q2 ’24: $1.9BQ3 ’24: $1.9BQ4 ’24: $1.8BQ1 ’25: $1.2BQ1 ’25Q2 ’25: $1.7BQ3 ’25: $1.8BQ4 ’25: $1.6BQ1 ’26: $1.5BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 92.8%ADR: 7.2%
  • Common Stock · 92.8% · $1.4B
  • ADR · 7.2% · $108M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BJBJ's Wholesale Club Holdings Inc.NEW+550.0K550.0K+$54M$54M
EQTEQT CorpNEW+550.0K550.0K+$35M$35M
BACBank of America Corp.NEW+500.0K500.0K+$24M$24M
YPFYPF S.A.NEW+500.0K500.0K+$23M$23M
PFEPfizer Inc.NEW+750.0K750.0K+$21M$21M
NETCloudflare, Inc.NEW+100.0K100.0K+$21M$21M
PEPPepsiCo, Inc.NEW+120.0K120.0K+$19M$19M
HALHalliburton Co.NEW+400.0K400.0K+$16M$16M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

73 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RACEFerrari NVhistory →COM5.20%$78M230.2K
2AMZNAmazon.com Inc.history →COM3.79%$57M272.8K
3BJBJ's Wholesale Club Holdings Inc.history →COM3.61%$54M550.0K
4CATCaterpillar Inc.history →COM3.31%$50M70.0K
5NVDANVIDIA Corp.history →COM3.27%$49M281.3K
6MSFTMicrosoft Corp.history →COM2.97%$44M120.0K
7METAMeta Platforms, Inc.history →CL A2.92%$44M76.5K
8BIDUBaidu Inchistory →SPONSORED ADR2.62%$39M352.0K
9NFLXNetflix Inc.history →COM2.41%$36M375.0K
10DHID.R. Horton, Inc.history →COM2.38%$36M260.0K
11AMDAdvanced Micro Devices Inc.history →COM2.36%$35M174.0K
12EQTEQT Corphistory →COM2.34%$35M550.0K
13AMATApplied Materials, Inc.history →COM2.28%$34M100.0K
14AVGOBroadcom Inc.history →COM2.22%$33M107.5K
15UBERUber Technologies Inc.history →COM2.16%$32M450.0K
16TSLATesla Inc.history →COM2.11%$32M85.0K
17JOBYJoby Aviation, Inchistory →COM2.02%$30M3.67M
18BAThe Boeing Co.history →COM1.99%$30M150.0K
19GOOGAlphabet Inc.history →CL C1.91%$29M100.0K
20ARMARM Holdings PLChistory →COM1.91%$29M189.6K
21INTCIntel Corp.history →COM1.80%$27M610.0K
22STXSeagate Technology Holdings Public L imited Co.history →COM1.77%$26M67.5K
23LMTLockheed Martin Corp.history →COM1.74%$26M43.2K
24TMOThermo Fisher Scientific, Inc.history →COM1.67%$25M51.0K
25BACBank of America Corp.history →COM1.63%$24M500.0K
26YPFYPF S.A.history →SPONSORED ADR1.54%$23M500.0K
27PFEPfizer Inc.history →COM1.41%$21M750.0K
28BKRBaker Hughes Co.history →CL A1.39%$21M340.0K
29NETCloudflare, Inc.history →CL A1.38%$21M100.0K
30OLLIOllie's Bargain Outlet Holdings Inc.history →COM1.31%$20M213.0K
31DISThe Walt Disney Co.history →COM1.29%$19M200.4K
32PEPPepsiCo, Inc.history →COM1.24%$19M120.0K
33CNHCNH Industrial NVhistory →CL A1.19%$18M1.62M
34BABAAlibaba Group Holding Limitedhistory →SPONSORED ADR1.13%$17M135.0K
35SHOPShopify Inchistory →COM1.09%$16M138.0K
36HALHalliburton Co.history →COM1.04%$16M400.0K
37MELIMercadoLibre Inc.history →COM1.04%$16M9.0K
38ASMLASML Holding N.V.history →SPONSORED ADR1.02%$15M11.6K
39AAPLApple Inc.history →COM1.02%$15M60.0K
40XYLXylem, Inc.history →COM0.96%$14M120.9K
41GSGoldman Sachs Group, Inc.history →COM0.88%$13M15.5K
42WDCWestern Digital Corporationhistory →COM0.87%$13M48.0K
43HSYThe Hershey Co.history →COM0.86%$13M62.0K
44BIRKBirkenstock Holding plchistory →COM0.84%$13M350.0K
45AVAVAeroVironment Inchistory →COM0.82%$12M67.0K
46HOODRobinhood Markets, Inc.history →CL A0.81%$12M175.0K
47SNOWSnowflake Inc.history →CL A0.81%$12M80.0K
48CSCOCisco Systems, Inc.history →COM0.80%$12M155.0K
49HONHoneywell International Inc.history →COM0.75%$11M50.0K
50AXPAmerican Express Co.history →COM0.74%$11M36.7K
51KLACKLA Corphistory →COM0.71%$11M7.2K
52PGThe Procter & Gamble Co.history →COM0.70%$11M73.0K
53JPMJPMorgan Chase & Co.history →COM0.69%$10M35.0K
54Lam Research Corp.COM0.68%$10M47.5K
55TDGTransDigm Group Inc.COM0.66%$10M8.5K
56MDBMongo DB, Inc.COM0.65%$10M40.0K
57CRWDCrowdStrike Holdings Inc.CL A0.65%$10M25.0K
58XPXP IncCL A0.64%$10M500.0K
59MPMP Materials Corp.COM0.60%$9M185.0K
60MSIMotorola Solutions Inc.COM0.58%$9M20.0K
61BXBlackstone Inc.COM0.53%$8M68.5K
62LEUCentrus Energy Corp.CL A0.46%$7M40.0K
63MDGLMadrigal Pharmaceuticals, Inc.COM0.46%$7M13.2K
64TERTeradyne, Inc.COM0.46%$7M23.0K
65SOLSSolstice Advanced Materials, Inc.COM0.44%$7M87.5K
66INSPInspire Medical Systems, Inc.COM0.40%$6M117.4K
67COSTCostco Wholesale Corp.COM0.37%$5M5.5K
68DHRDanaher Corp.COM0.35%$5M27.5K
69SNPSSynopsys, Inc.COM0.32%$5M12.0K
70General Electric Co.COM0.28%$4M15.0K
71DGDollar General Corp.COM0.28%$4M35.0K
72ACHRArcher Aviation Inc.COM0.24%$4M700.0K
73CPRICapri Holdings Ltd.COM0.24%$4M200.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.5B73May 8, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.6B67Jan 21, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.8B62Oct 22, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.7B68Jul 28, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.2B67Apr 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.8B97Jan 24, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.9B105Oct 16, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.9B98Jul 24, 202413F-HRchanges · EDGAR ↗
Q1 2024$2.1B97Apr 11, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.8B90Jan 16, 202413F-HRchanges · EDGAR ↗
Q3 2023$1.7B121Oct 17, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.9B96Aug 2, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.8B106May 3, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.7B133Feb 2, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.5B145Nov 9, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.3B136Jul 29, 202213F-HRchanges · EDGAR ↗
Q1 2022$2.1B137May 2, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.3B138Jan 21, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.9B109Oct 21, 202113F-HRchanges · EDGAR ↗
Q2 2021$2.0B100Jul 26, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.5B85Apr 26, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.4B78Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.2B71Oct 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.4B67Aug 7, 202013F-HRchanges · EDGAR ↗
Q1 2020$943M61Apr 20, 202013F-HRchanges · EDGAR ↗
Q4 2019$971M52Feb 3, 202013F-HRchanges · EDGAR ↗
Q3 2019$879M14Oct 4, 201913F-HRchanges · EDGAR ↗
Q2 2019$747M12Jul 23, 201913F-HRchanges · EDGAR ↗
Q1 2019$822M14May 6, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.