SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Rheos Capital Works Inc.

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

Reported Value
$1.7B
Q2 2025
Positions
68
Filings on Record
29
2019–present window
Filed
Jul 28, 2025
original filing

Summary

Rheos Capital Works Inc. reported $1.7B in U.S.-listed holdings across 68 positions for Q2 2025.

Its largest position, NFLX, represents 9.0% of the portfolio.

Compared with Q1 2025, the fund opened 15 new positions and exited 14.

Portfolio Metrics

Turnover
+18.4%
vs prior filed quarter
Top-10 Concentration
+44.4%
share of reported value
Largest Position
+9.0%
Netflix
New / Exited
15 / 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: 96.8%ADR: 3.2%
  • Common Stock · 96.8% · $1.7B
  • ADR · 3.2% · $56M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AMDADVANCED MICRO DEVICES INCNEW+640.0K640.0K+$91M$91M
SPOTSPOTIFY TECHNOLOGY S ANEW+62.0K62.0K+$48M$48M
CRCLCIRCLE INTERNET GROUP INCNEW+250.0K250.0K+$45M$45M
LYFTLYFT INCNEW+2.35M2.35M+$37M$37M
MNDYMONDAY COM LTDNEW+105.0K105.0K+$33M$33M
ZSZSCALER INCNEW+91.0K91.0K+$29M$29M
SNOWSNOWFLAKE INCNEW+102.0K102.0K+$23M$23M
FICOFAIR ISAAC CORPNEW+12.1K12.1K+$22M$22M

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

Holdings — Q2 2025

68 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NFLXNETFLIX INChistory →COM9.00%$156M116.8K
2AMDADVANCED MICRO DEVICES INChistory →COM5.22%$91M640.0K
3RACEFERRARI N Vhistory →COM4.56%$79M161.7K
4JOBYJOBY AVIATION INChistory →COM4.37%$76M7.21M
5UBERUBER TECHNOLOGIES INChistory →COM4.19%$73M780.0K
6AMZNAMAZON COM INChistory →COM4.01%$70M317.8K
7DISDISNEY WALT COhistory →COM3.57%$62M500.4K
8AVGOBROADCOM INChistory →COM3.36%$58M212.0K
9MSFTMICROSOFT CORPhistory →COM3.27%$57M114.3K
10COSTCOSTCO WHSL CORP NEWhistory →COM2.85%$49M50.0K
11SPOTSPOTIFY TECHNOLOGY S Ahistory →COM2.74%$48M62.0K
12CRCLCIRCLE INTERNET GROUP INChistory →CL A2.61%$45M250.0K
13LYFTLYFT INChistory →CL A2.13%$37M2.35M
14TJXTJX COS INC NEWhistory →COM2.09%$36M293.6K
15BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADR2.01%$35M308.6K
16MNDYMONDAY COM LTDhistory →COM1.90%$33M105.0K
17CNHCNH INDL N Vhistory →CL A1.78%$31M2.39M
18CSCOCISCO SYS INChistory →COM1.70%$29M425.0K
19ZSZSCALER INChistory →COM1.64%$29M91.0K
20HSYHERSHEY COhistory →COM1.47%$26M154.0K
21OLLIOLLIES BARGAIN OUTLET HLDGShistory →COM1.46%$25M193.0K
22STXSEAGATE TECHNOLOGY HLDNGS PLhistory →COM1.37%$24M164.5K
23SNOWSNOWFLAKE INChistory →CL A1.31%$23M102.0K
24TDGTRANSDIGM GROUP INChistory →COM1.31%$23M15.0K
25BABOEING COhistory →COM1.28%$22M106.4K
26FICOFAIR ISAAC CORPhistory →COM1.27%$22M12.1K
27RTXRTX CORPORATIONhistory →COM1.27%$22M151.0K
28ARMARM HOLDINGS PLChistory →COM1.21%$21M130.0K
29MUMICRON TECHNOLOGY INChistory →COM1.20%$21M169.0K
30AAPLAPPLE INChistory →COM1.20%$21M101.5K
31TMOTHERMO FISHER SCIENTIFIC INChistory →COM1.19%$21M51.0K
32KEYKEYCORPhistory →COM0.96%$17M960.0K
33LHXL3HARRIS TECHNOLOGIES INChistory →COM0.96%$17M66.2K
34NVDANVIDIA CORPORATIONhistory →COM0.95%$17M105.0K
35DARDARLING INGREDIENTS INChistory →COM0.93%$16M425.0K
36LMTLOCKHEED MARTIN CORPhistory →COM0.91%$16M34.2K
37XYLXYLEM INChistory →COM0.90%$16M120.9K
38BKRBAKER HUGHES COMPANYhistory →CL A0.86%$15M390.0K
39MDGLMADRIGAL PHARMACEUTICALS INChistory →COM0.75%$13M43.2K
40MELIMERCADOLIBRE INChistory →COM0.75%$13M5.0K
41SNPSSYNOPSYS INChistory →COM0.71%$12M24.0K
42GEVGE VERNOVA INChistory →COM0.70%$12M23.0K
43BXBLACKSTONE INChistory →COM0.68%$12M79.5K
44PANWPALO ALTO NETWORKS INChistory →COM0.68%$12M57.7K
45AAGILENT TECHNOLOGIES INChistory →COM0.67%$12M99.2K
46AXPAMERICAN EXPRESS COhistory →COM0.67%$12M36.7K
47WDCWESTERN DIGITAL CORPhistory →COM0.66%$12M180.0K
48LULULULULEMON ATHLETICA INChistory →COM0.64%$11M46.5K
49SCISERVICE CORP INTLhistory →COM0.63%$11M135.0K
50NTNXNUTANIX INChistory →CL A0.62%$11M140.0K
51CRWDCROWDSTRIKE HLDGS INChistory →CL A0.59%$10M20.0K
52MPMP MATERIALS CORPCOM0.57%$10M300.0K
53ELVELEVANCE HEALTH INCCOM0.56%$10M25.0K
54TTEKTETRA TECH INC NEWCOM0.56%$10M269.0K
55BJBJS WHSL CLUB HLDGS INCCOM0.55%$10M89.0K
56MEDPMEDPACE HLDGS INCCOM0.53%$9M29.1K
57BWABORGWARNER INCCOM0.50%$9M258.1K
58INSPINSPIRE MED SYS INCCOM0.39%$7M52.4K
59HLIHOULIHAN LOKEY INCCL A0.37%$6M35.4K
60GSGOLDMAN SACHS GROUP INCCOM0.35%$6M8.5K
61HCAHCA HEALTHCARE INCCOM0.33%$6M15.0K
62DHRDANAHER CORPORATIONCOM0.31%$5M27.5K
63LWLAMB WESTON HLDGS INCCOM0.28%$5M93.0K
64KHCKRAFT HEINZ COCOM0.26%$5M177.0K
65HUMHUMANA INCCOM0.21%$4M15.0K
66ESABESAB CORPORATIONCOM0.19%$3M28.0K
67CRNCCERENCE INCCOM0.18%$3M300.0K
68BRKRBRUKER CORPCOM0.11%$2M45.0K

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 ↗.