Managers / Q1 2025 · view latest →
Rakuten Securities, Inc.
CIK 0002009539 · 2-6-21 MINAMI-AOYAMA, MINATO-KU, TOKYO, M0, 107-0062 · 813-6739-1700
Summary
Rakuten Securities, Inc. reported $198M in U.S.-listed holdings across 821 positions for Q1 2025.
Its largest position, NVDA, represents 15.9% of the portfolio.
Compared with Q4 2024, the fund opened 119 new positions and exited 58.
Portfolio Metrics
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. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 78.8% · $156M
- ETP · 12.0% · $24M
- ADR · 7.2% · $14M
- Other · 1.9% · $4M
- NY Reg Shrs · 0.0% · $27,516
Quarter-over-Quarter Changes full breakdown →
vs Q4 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| VANGUARD STAR FDS | NEW | +27.5K | 27.5K | +$2M | $2M |
| VANGUARD INTL EQUITY INDEX F | NEW | +8.6K | 8.6K | +$601,208 | $601,208 |
| HAMHARMONY GOLD MINING CO LTD | NEW | +22.1K | 22.1K | +$326,447 | $326,447 |
| BRKRBRUKER CORP | NEW | +4.0K | 4.0K | +$167,002 | $167,002 |
| OKLOOKLO INC | NEW | +6.3K | 6.3K | +$136,550 | $136,550 |
| SOUNSOUNDHOUND AI INC | NEW | +11.3K | 11.3K | +$91,724 | $91,724 |
| SPDR INDEX SHS FDS | NEW | +1.6K | 1.6K | +$61,299 | $61,299 |
| VMCVULCAN MATLS CO | NEW | +231 | 231 | +$53,892 | $53,892 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | NVDANVIDIA CORPORATIONhistory → | COM | 15.86% | $31M | 290.2K |
| 2 | TSLATESLA INChistory → | COM | 8.20% | $16M | 62.7K |
| 3 | COINCOINBASE GLOBAL INChistory → | COM CL A | 5.21% | $10M | 60.0K |
| 4 | PLTRPALANTIR TECHNOLOGIES INChistory → | CL A | 4.01% | $8M | 94.3K |
| 5 | MIGAMICROSTRATEGY INChistory → | CL A NEW | 3.89% | $8M | 26.8K |
| 6 | GQ9SPDR GOLD TRhistory → | GOLD SHS | 2.49% | $5M | 17.2K |
| 7 | NDQINVESCO QQQ TRhistory → | UNIT SER 1 | 2.16% | $4M | 9.1K |
| 8 | SESEA LTDhistory → | SPONSORD ADS | 2.09% | $4M | 31.7K |
| 9 | MSFTMICROSOFT CORPhistory → | COM | 1.95% | $4M | 10.3K |
| 10 | CHRDCHORD ENERGY CORPORATIONhistory → | COM NEW | 1.91% | $4M | 33.6K |
| 11 | AMZNAMAZON COM INChistory → | COM | 1.70% | $3M | 17.7K |
| 12 | GOOGLALPHABET INC | CAP STK CL A · CAP STK CL C | 1.65% | $3M | 21.1K |
| 13 | APPAPPLOVIN CORPhistory → | COM CL A | 1.63% | $3M | 12.2K |
| 14 | ISHARES TR | 20 YR TR BD ETF | 1.55% | $3M | 33.8K |
| 15 | METAMETA PLATFORMS INChistory → | CL A | 1.54% | $3M | 5.3K |
| 16 | LLYELI LILLY & COhistory → | COM | 1.48% | $3M | 3.6K |
| 17 | VANGUARD INDEX FDS | S&P 500 ETF SHS · TOTAL STK MKT | 1.41% | $3M | 7.3K |
| 18 | BABOEING COhistory → | COM | 1.29% | $3M | 15.0K |
| 19 | TSMTAIWAN SEMICONDUCTOR MFG LTDhistory → | SPONSORED ADS | 1.28% | $3M | 15.3K |
| 20 | AAPLAPPLE INChistory → | COM | 1.27% | $3M | 11.4K |
| 21 | MUMICRON TECHNOLOGY INChistory → | COM | 1.22% | $2M | 27.7K |
| 22 | WORLD GOLD TR | SPDR GLD MINIS | 1.19% | $2M | 38.1K |
| 23 | AMDADVANCED MICRO DEVICES INChistory → | COM | 1.17% | $2M | 22.7K |
| 24 | ARMARM HOLDINGS PLChistory → | SPONSORED ADS | 1.17% | $2M | 21.8K |
| 25 | IOTSAMSARA INChistory → | COM CL A | 1.14% | $2M | 59.1K |
| 26 | GSGOLDMAN SACHS GROUP INChistory → | COM | 1.07% | $2M | 3.9K |
| 27 | AVGOBROADCOM INC | COM | 0.95% | $2M | 11.3K |
| 28 | SOFISOFI TECHNOLOGIES INC | COM | 0.87% | $2M | 148.5K |
| 29 | VANGUARD STAR FDS | VG TL INTL STK F | 0.86% | $2M | 27.5K |
| 30 | NFLXNETFLIX INC | COM | 0.76% | $2M | 1.6K |
| 31 | IONQIONQ INC | COM | 0.70% | $1M | 63.2K |
| 32 | BRK/BBERKSHIRE HATHAWAY INC DEL | CL B NEW | 0.57% | $1M | 2.1K |
| 33 | INTCINTEL CORP | COM | 0.54% | $1M | 47.1K |
| 34 | ASML HOLDING N V | N Y REGISTRY SHS | 0.51% | $1M | 1.5K |
| 35 | PBRPETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 0.50% | $1M | 69.7K |
| 36 | NEMNEWMONT CORP | COM | 0.50% | $992,589 | 20.6K |
| 37 | CRWDCROWDSTRIKE HLDGS INC | CL A | 0.45% | $897,669 | 2.5K |
| 38 | MRNAMODERNA INC | COM | 0.37% | $741,636 | 26.2K |
| 39 | CVNACARVANA CO | CL A | 0.37% | $728,017 | 3.5K |
| 40 | VANGUARD WHITEHALL FDS | HIGH DIV YLD | 0.36% | $710,956 | 5.5K |
| 41 | PFEPFIZER INC | COM | 0.36% | $707,265 | 27.9K |
| 42 | MAMASTERCARD INCORPORATED | CL A | 0.35% | $691,179 | 1.3K |
| 43 | VSTVISTRA CORP | COM | 0.34% | $681,387 | 5.8K |
| 44 | QCOMQUALCOMM INC | COM | 0.33% | $654,379 | 4.3K |
| 45 | TEMTEMPUS AI INC | CL A | 0.32% | $636,479 | 13.2K |
| 46 | BABAALIBABA GROUP HLDG LTD | SPONSORED ADS | 0.31% | $616,853 | 4.7K |
| 47 | HOODROBINHOOD MKTS INC | COM CL A | 0.31% | $612,688 | 14.7K |
| 48 | BMTABRITISH AMERN TOB PLC | SPONSORED ADR | 0.31% | $612,441 | 14.8K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $241M | 879 | May 1, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $308M | 892 | Jan 29, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $271M | 905 | Oct 28, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $255M | 842 | Aug 15, 2025 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2025 | $198M | 821 | Apr 18, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $254M | 760 | Feb 10, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $230M | 713 | Nov 5, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $233M | 714 | Jul 31, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $228M | 715 | May 1, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $127M | 612 | Jan 31, 2024 | 13F-HR | changes · 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 ↗.