SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Rheos Capital Works Inc.

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

Reported Value
$1.8B
Q4 2023
Positions
90
Filings on Record
29
2019–present window
Filed
Jan 16, 2024
original filing

Summary

Rheos Capital Works Inc. reported $1.8B in U.S.-listed holdings across 90 positions for Q4 2023.

Its largest position, MSFT, represents 10.1% of the portfolio.

Compared with Q3 2023, the fund opened 10 new positions and exited 41.

Portfolio Metrics

Turnover
+34.1%
vs prior filed quarter
Top-10 Concentration
+39.5%
share of reported value
Largest Position
+10.1%
Microsoft
New / Exited
10 / 41
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: 94.1%REIT: 3.3%ADR: 2.1%Other: 0.6%
  • Common Stock · 94.1% · $1.7B
  • REIT · 3.3% · $59M
  • ADR · 2.1% · $37M
  • Other · 0.6% · $11M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CCJCAMECO CORPNEW+1.42M1.42M+$61M$61M
LLYLILLY ELI & CONEW+85.0K85.0K+$50M$50M
STXSEAGATE TECHNOLOGY HLDNGS PLNEW+185.0K185.0K+$16M$16M
BXBLACKSTONE INCNEW+112.0K112.0K+$15M$15M
BABOEING CONEW+46.0K46.0K+$12M$12M
VRTVERTIV HOLDINGS CONEW+225.0K225.0K+$11M$11M
GENERAL ELECTRIC CONEW+83.4K83.4K+$11M$11M
LNGCHENIERE ENERGY INCNEW+52.1K52.1K+$9M$9M

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

Holdings — Q4 2023

90 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM10.06%$182M484.4K
2NVDANVIDIA CORPORATIONhistory →COM5.35%$97M195.8K
3QCOMQUALCOMM INChistory →COM4.62%$84M577.9K
4RACEFERRARI N Vhistory →COM4.26%$77M228.2K
5CCJCAMECO CORPhistory →COM3.38%$61M1.42M
6LLYLILLY ELI & COhistory →COM2.74%$50M85.0K
7AMZNAMAZON COM INChistory →COM2.58%$47M307.1K
8PANWPALO ALTO NETWORKS INChistory →COM2.57%$47M158.0K
9TTWOTAKE-TWO INTERACTIVE SOFTWARhistory →COM2.12%$38M238.7K
10CBOECBOE GLOBAL MKTS INChistory →COM1.85%$33M187.4K
11EMREMERSON ELEC COhistory →COM1.81%$33M337.1K
12NFLXNETFLIX INChistory →COM1.61%$29M60.0K
13HSYHERSHEY COhistory →COM1.57%$29M152.9K
14MSIMOTOROLA SOLUTIONS INChistory →COM1.50%$27M86.5K
15CMECME GROUP INChistory →CL A1.42%$26M121.8K
16MUMICRON TECHNOLOGY INChistory →COM1.35%$24M286.5K
17TSMTAIWAN SEMICONDUCTOR MFG LTDhistory →SPONSORED ADR1.34%$24M232.6K
18ARISTA NETWORKS INCCOM1.31%$24M101.0K
19WMBWILLIAMS COS INChistory →COM1.27%$23M660.0K
20AMDADVANCED MICRO DEVICES INChistory →COM1.25%$23M153.5K
21AXPAMERICAN EXPRESS COhistory →COM1.23%$22M119.0K
22AMATAPPLIED MATLS INChistory →COM1.20%$22M134.3K
23ASMLASML HOLDING N Vhistory →SPONSORED ADR1.19%$21M28.4K
24SPOTSPOTIFY TECHNOLOGY S Ahistory →COM1.11%$20M107.0K
25GFSGLOBALFOUNDRIES INChistory →COM1.09%$20M326.0K
26DELLDELL TECHNOLOGIES INChistory →CL C1.08%$20M255.0K
27TXNTEXAS INSTRS INChistory →COM1.08%$20M114.4K
28TTEKTETRA TECH INC NEWhistory →COM1.08%$19M116.8K
29AAPLAPPLE INChistory →COM1.08%$19M101.2K
30KMIKINDER MORGAN INC DELhistory →COM1.05%$19M1.08M
31BILLBILL COM HLDGS INChistory →COM1.03%$19M229.5K
32LDOSLEIDOS HOLDINGS INChistory →COM1.01%$18M169.0K
33ORLYOREILLY AUTOMOTIVE INChistory →COM1.00%$18M19.1K
34CEGConstellation Energy Corp.history →COM0.99%$18M153.0K
35EQIXEQUINIX INChistory →COM0.99%$18M22.2K
36WOLFSPEED INCCOM0.96%$17M397.5K
37ROPROPER TECHNOLOGIES INChistory →COM0.92%$17M30.5K
38STXSEAGATE TECHNOLOGY HLDNGS PLhistory →COM0.87%$16M185.0K
39INTCINTEL CORPhistory →COM0.83%$15M298.6K
40BXBLACKSTONE INChistory →COM0.81%$15M112.0K
41MDBMONGODB INChistory →COM0.79%$14M35.0K
42LMTLOCKHEED MARTIN CORPhistory →COM0.78%$14M31.3K
43RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.77%$14M165.4K
44JOBYJOBY AVIATION INChistory →COM0.75%$14M2.06M
45ARMARM Holdings PLChistory →COM0.72%$13M173.5K
46INSPINSPIRE MED SYS INChistory →COM0.71%$13M63.1K
47AVGOBROADCOM INChistory →COM0.70%$13M11.3K
48DARDARLING INGREDIENTS INChistory →COM0.69%$12M250.0K
49LHXL3HARRIS TECHNOLOGIES INChistory →COM0.69%$12M58.9K
50VVISA INChistory →CL A0.66%$12M46.2K
51BABOEING COhistory →COM0.66%$12M46.0K
52AMTAMERICAN TOWER CORP NEWhistory →COM0.63%$11M53.0K
53POWERSCHOOL HOLDINGS INCCL A0.63%$11M481.6K
54DISDISNEY WALT COhistory →COM0.62%$11M124.5K
55CCICROWN CASTLE INTL CORP NEWhistory →COM0.62%$11M97.0K
56OPCHOPTION CARE HEALTH INChistory →COM0.61%$11M325.6K
57LWLAMB WESTON HLDGS INChistory →COM0.60%$11M100.0K
58VRTVERTIV HOLDINGS COhistory →COM0.60%$11M225.0K
59ISRGINTUITIVE SURGICAL INChistory →COM0.60%$11M32.0K
60XYLXYLEM INChistory →COM0.59%$11M93.9K
61MKLMARKEL CORPhistory →COM0.59%$11M7.5K
62GENERAL ELECTRIC COCOM0.59%$11M83.4K
63COSTCOSTCO WHSL CORP NEWhistory →COM0.57%$10M15.7K
64SCISERVICE CORP INTLCOM0.55%$10M145.0K
65MCHPMICROCHIP TECHNOLOGY INC.COM0.55%$10M110.0K
66CSCOCISCO SYS INCCOM0.55%$10M196.3K
67TERTERADYNE INCCOM0.54%$10M90.8K
68KNSLKINSALE CAP GROUP INCCOM0.54%$10M29.4K
69AAGILENT TECHNOLOGIES INCCOM0.53%$10M68.4K
70SLGSL Green Realty Corp.COM0.52%$9M209.0K
71BWABORGWARNER INCCOM0.51%$9M258.1K
72VNOVORNADO RLTY TRCOM0.50%$9M318.0K
73LNGCHENIERE ENERGY INCCOM0.49%$9M52.1K
74AMRCAMERESCO INCCL A0.48%$9M275.7K
75LSCCLATTICE SEMICONDUCTOR CORPCOM0.43%$8M112.1K
76EXPOEXPONENT INCCOM0.42%$8M86.1K
77KEYKEYCORPCOM0.40%$7M500.0K
78ETNEATON CORP PLCCOM0.37%$7M28.0K
79ROKROCKWELL AUTOMATION INCCOM0.34%$6M20.0K
80ROSTROSS STORES INCCOM0.31%$6M41.0K
81OLLIOLLIES BARGAIN OUTLET HLDGSCOM0.28%$5M66.0K
82GTLSCHART INDS INCCOM0.27%$5M36.5K
83BTUPEABODY ENGR CORPCOM0.27%$5M200.0K
84DOCSDOXIMITY INCCL A0.27%$5M172.8K
85TJXTJX COS INC NEWCOM0.26%$5M51.0K
86WMTWALMART INCCOM0.24%$4M28.0K
87BJBJS WHSL CLUB HLDGS INCCOM0.22%$4M61.0K
88ESABESAB Corp.COM0.22%$4M46.7K
89BLBLACKLINE INCCOM0.15%$3M43.7K
90GOOGALPHABET INCCL C0.08%$1M10.0K

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 ↗.