Rakuten Investment Management, Inc.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed May 15, 2025), Rakuten Investment Management, Inc. reported 536 stock positions worth $15.2 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 73.6% of the portfolio, followed by Vanguard Tot World STK ETF (VT, 11.9%) and Nvidia (NVDA, 1.0%). Compared with Q1 2024, it opened 12 new positions, sold out of 11, added to 503 and reduced 9. The biggest buy was Nvidia (NVDA, shares +57%) and the biggest sale iShares MSCI USA Min Vol Fac (USMV, shares −11%).

Most Recent 13F
Q2 2026
Location
TOKYO, M0
CIK
0002062680
Portfolio Value
$15.2B (Q2 2024)
SEC Filing
0000898432-25-000378 ↗ filed May 15, 2025

Holdings Value

0$10.0B$20.0B$30.0B$40.0B$50.0B Q1 2024: $13.6B Q1 2024 Q2 2024: $15.2B $15.2B Q2 2024 Q3 2024: $17.1B Q3 2024 Q1 2025: $21.8B Q1 2025 Q3 2025: $28.1B Q3 2025 Q4 2025: $29.7B Q4 2025 Q1 2026: $49.2B Q1 2026 Q2 2026: $34.6B Q2 2026

Holdings 536 stocks · $15.2B
VTI VG Morningstar TS MKT ETF-US 73.61% 41,641,827 $11.2B Add +3.8%
VT Vanguard Tot World STK ETF 11.93% 16,111,897 $1.8B Add +0.3%
NVDA Nvidia Corp. 1.05% 1,285,908 $159.4M Add +56.8%
AAPL Apple Inc. 1.00% 714,725 $153.0M Add +59.1%
VYM Vanguard High DVD Yield ETF 0.78% 999,454 $118.2M Add +7.6%
AMZN Amazon.com Inc. 0.60% 458,978 $90.8M Add +60.6%
META Meta Platforms Inc. Class A 0.39% 115,467 $60.0M Add +59.6%
GOOGL Alphabet Inc. Class A 0.35% 287,813 $53.4M Add +59.3%
AVGO Broadcom Inc. 0.33% 31,491 $50.0M Add +61.3%
GOOG Alphabet Inc. Class C 0.30% 246,766 $46.1M Add +58.6%
IVV iShares Core S&P 500 ETF 0.25% 69,226 $38.0M Add +0.5%
SCHE Schwab Emrg Mrkts Eqty ETF 0.24% 1,369,580 $36.3M Add +8.3%
LLY Eli Lilly & Co. 0.20% 34,166 $31.1M Add +58.7%
TSLA Tesla Inc. 0.19% 150,087 $29.6M Add +61.1%
BRK.B Berkshire Hathaway Inc. Class B 0.19% 70,214 $28.6M Add +57.6%
VWO Vanguard Ftse Emerging Marke 0.17% 593,037 $25.9M Add +8.5%
USMV iShares MSCI USA Min Vol Fac 0.16% 296,603 $24.9M Reduce -10.8%
JPM JPMorgan Chase & Co. 0.16% 122,276 $24.4M Add +57.3%
COST Costco Wholesale Corp. 0.15% 26,166 $22.3M Add +61.6%
XOM Exxon Mobil Corp. 0.14% 191,004 $21.9M Add +78.5%
USRT iShares Core US REIT ETF 0.14% 405,827 $21.5M Add +15.8%
AMD Advanced Micro Devices 0.13% 128,923 $20.6M Add +54.6%
VCIT Vanguard Int-Term Corporate 0.13% 242,867 $19.5M Reduce -1.7%
UNH Unitedhealth Group Inc. 0.13% 39,211 $19.1M Add +57.6%
V Visa Inc. Class A 0.12% 67,128 $17.9M Add +57.8%
NFLX Netflix Inc. 0.11% 25,450 $17.4M Add +60.8%
PG The Procter & Gamble Co. 0.11% 100,393 $16.7M Add +58.6%
MA Mastercard Inc. Class A 0.10% 35,124 $15.6M Add +57.6%
QCOM Qualcomm Inc. 0.10% 79,627 $15.5M Add +25.9%
JNJ Johnson & Johnson 0.10% 102,515 $14.9M Add +58.4%
ADBE Adobe Inc. 0.10% 26,487 $14.5M Add +60.5%
AMAT Applied Materials Inc. 0.09% 61,997 $14.4M Add +54.1%
HD Home Depot Inc. 0.09% 42,197 $14.4M Add +57.7%
MRK Merck & Co. Inc. 0.09% 107,841 $14.0M Add +58.3%
PEP Pepsico Inc. 0.09% 81,190 $13.5M Add +61.7%
VCSH Vanguard S/T Corp. Bond ETF 0.08% 157,159 $12.1M Reduce -2.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.08% 293,788 $11.5M Add +56.7%
CVX Chevron Corp. 0.08% 73,541 $11.5M Add +56.1%
CSCO Cisco Systems Inc. 0.07% 238,559 $11.3M Add +61.1%
USHY iShares Broad Usd High Yield 0.07% 305,541 $11.1M Reduce -3.6%
INTU Intuit Inc. 0.07% 16,511 $10.8M Add +61.7%
KO The Coca-Cola Co. 0.07% 168,088 $10.7M Add +57.8%
CRM Salesforce Inc. 0.07% 41,396 $10.5M Add +58.8%
INTC Intel Corp. 0.07% 341,951 $10.5M Add +55.1%
AMGN Amgen Inc. 0.07% 31,641 $9.9M Add +62.0%
ORCL Oracle Corp. 0.06% 68,632 $9.6M Add +58.3%
KLAC KLA Corp. 0.06% 11,640 $9.5M Add +52.0%
ISRG Intuitive Surgical Inc. 0.06% 20,923 $9.3M Add +62.8%
TMO Thermo Fisher Scientific Inc. 0.06% 16,277 $9.0M Add +56.4%
CMCSA Comcast Corp. Class A 0.06% 232,305 $8.9M Add +59.7%
HON Honeywell International Inc. 0.05% 38,501 $8.3M Add +60.2%
EFAV iShares MSCI Eafe Min Vol Fa 0.05% 117,905 $8.2M Reduce -9.2%
BKNG Booking Holdings Inc. 0.05% 2,005 $8.0M Add +58.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.05% 77,914 $8.0M Add +57.6%
MCD McDonald's Corp. 0.05% 30,690 $7.9M Add +57.3%
ABT Abbott Laboratories 0.05% 74,009 $7.7M Add +58.5%
GE General Electric filed as GE AEROSPACE 0.05% 46,588 $7.5M Add +59.2%
TMUS T-Mobile US Inc. 0.05% 41,449 $7.4M Add +63.1%
VZ Verizon Communications Inc. 0.05% 179,155 $7.3M Add +58.5%
DHR Danaher Corp. 0.05% 28,677 $7.2M Add +58.7%
VRTX Vertex Pharmaceuticals Inc. 0.05% 15,228 $7.2M Add +61.9%
HYLB Xtrackers Usd High Yield Cor 0.04% 192,951 $6.9M Reduce -1.6%
NOW ServiceNow Inc. 0.04% 8,729 $6.8M Add +58.3%
PM Philip Morris International 0.04% 66,315 $6.7M Add +58.4%
PFE Pfizer Inc. 0.04% 242,016 $6.7M Add +58.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.04% 39,087 $6.7M Add +59.0%
REGN Regeneron Pharmaceuticals 0.04% 6,321 $6.6M Add +62.5%
NEE Nextera Energy Inc. 0.04% 87,450 $6.4M Add +58.5%
GS Goldman Sachs Group Inc. 0.04% 13,759 $6.1M Add +56.9%
SPGI S&P Global Inc. 0.04% 13,632 $6.1M Add +57.4%
UBER Uber Technologies Inc. 0.04% 85,996 $6.0M Add +60.0%
EFA iShares MSCI Eafe ETF 0.04% 74,893 $5.9M No change
ADP Automatic Data Processing 0.04% 24,167 $5.7M Add +61.2%
RTX RTX Corp. 0.04% 56,892 $5.7M Add +54.3%
COP Conocophillips 0.04% 49,892 $5.7M Add +57.1%
AXP American Express Co. 0.04% 24,302 $5.6M Add +57.0%
SNPS Synopsys Inc. 0.04% 9,011 $5.4M Add +62.1%
LOW Lowe's Cos Inc. 0.04% 24,363 $5.4M Add +57.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.04% 48,226 $5.3M Add +57.4%
SBUX Starbucks Corp. 0.03% 67,146 $5.3M Add +62.1%
ELV Elevance Health Inc. 0.03% 9,899 $5.3M Add +56.7%
MDLZ Mondelez International Inc. Class A 0.03% 79,209 $5.3M Add +60.9%
PGR Progressive Corp. 0.03% 24,938 $5.3M Add +58.5%
CRWD CrowdStrike Holdings Inc. Class A 0.03% 13,592 $5.3M Add +227.2%
MS Morgan Stanley 0.03% 52,939 $5.1M Add +58.0%
C Citigroup Inc. 0.03% 81,323 $5.0M Add +58.9%
CDNS Cadence Design SYS Inc. 0.03% 16,061 $4.9M Add +61.8%
VCLT Vanguard Long-Term Corp. Bond 0.03% 64,221 $4.9M Reduce -0.5%
SYK Stryker Corp. 0.03% 14,480 $4.9M Add +58.7%
NKE Nike Inc. Class B 0.03% 51,874 $4.9M Add +57.6%
BSX Boston Scientific Corp. 0.03% 62,594 $4.8M Add +58.9%
BLK BlackRock Finance Inc. 0.03% 6,075 $4.7M Add +58.3%
SOXX iShares Semiconductor ETF 0.03% 19,352 $4.7M New
MRVL Marvell Technology Inc. 0.03% 66,832 $4.6M Add +57.8%
BA The Boeing Co. 0.03% 24,681 $4.5M Add +59.9%
MRSH Marsh & McLennan Cos 0.03% 20,964 $4.4M Add +58.4%
PLD Prologis Inc. 0.03% 39,410 $4.4M Add +58.6%
LMT Lockheed Martin Corp. 0.03% 9,164 $4.3M Add +55.9%
DE Deere & Co. 0.03% 11,099 $4.2M Add +57.4%
CI The Cigna Group 0.03% 12,090 $4.0M Add +53.7%

Show all 536 holdings

Portfolio Sells Q1 2024 → Q2 2024
USMV iShares MSCI USA Min Vol Fac Reduce -10.8% 0.16% −0.04
VCIT Vanguard Int-Term Corporate Reduce -1.7% 0.13% −0.02
EFAV iShares MSCI Eafe Min Vol Fa Reduce -9.2% 0.05% −0.01
USHY iShares Broad Usd High Yield Reduce -3.6% 0.07% −0.01
VCSH Vanguard S/T Corp. Bond ETF Reduce -2.2% 0.08% −0.01
HYLB Xtrackers Usd High Yield Cor Reduce -1.6% 0.04% −0.01
VCLT Vanguard Long-Term Corp. Bond Reduce -0.5% 0.03% −0.00
ILMN Illumina Inc. Reduce -17.1% 0.00% −0.00
HDV iShares Core High Dividend E Reduce -6.2% 0.01% −0.00
XRAY Dentsply Sirona Inc. Sold out 0.00% −0.00
VFC VF Corp. Sold out 0.00% −0.00
LEA Lear Corp. Sold out 0.00% −0.00
MTN Vail Resorts Inc. Sold out 0.00% −0.00
BILL Bill Holdings Inc. Sold out 0.00% −0.00
DBX Dropbox Inc. Class A Sold out 0.00% −0.00
SKWD Skyward Specialty Insurance Sold out 0.00% −0.00
ALAB Astera Labs Inc. Sold out 0.00% −0.00
DUOL Duolingo Sold out 0.00% −0.00
NXT Nextpower Inc. Sold out 0.00% −0.00
SDHC Smith Douglas Homes Corp. Sold out 0.00% −0.00

Portfolio Buys Q1 2024 → Q2 2024
NVDA Nvidia Corp. Add +56.8% 1.05% +0.50
AAPL Apple Inc. Add +59.1% 1.00% +0.44
AMZN Amazon.com Inc. Add +60.6% 0.60% +0.22
GOOGL Alphabet Inc. Class A Add +59.3% 0.35% +0.15
AVGO Broadcom Inc. Add +61.3% 0.33% +0.14
META Meta Platforms Inc. Class A Add +59.6% 0.39% +0.14
GOOG Alphabet Inc. Class C Add +58.6% 0.30% +0.13
LLY Eli Lilly & Co. Add +58.7% 0.20% +0.08
TSLA Tesla Inc. Add +61.1% 0.19% +0.07
COST Costco Wholesale Corp. Add +61.6% 0.15% +0.06
XOM Exxon Mobil Corp. Add +78.5% 0.14% +0.05
BRK.B Berkshire Hathaway Inc. Class B Add +57.6% 0.19% +0.05
JPM JPMorgan Chase & Co. Add +57.3% 0.16% +0.05
NFLX Netflix Inc. Add +60.8% 0.11% +0.04
UNH Unitedhealth Group Inc. Add +57.6% 0.13% +0.03
PG The Procter & Gamble Co. Add +58.6% 0.11% +0.03
ADBE Adobe Inc. Add +60.5% 0.10% +0.03
AMAT Applied Materials Inc. Add +54.1% 0.09% +0.03
SOXX iShares Semiconductor ETF New 0.03% +0.03
V Visa Inc. Class A Add +57.8% 0.12% +0.03
MRK Merck & Co. Inc. Add +58.3% 0.09% +0.03
CRWD CrowdStrike Holdings Inc. Class A Add +227.2% 0.03% +0.02
AMD Advanced Micro Devices Add +54.6% 0.13% +0.02
AMGN Amgen Inc. Add +62.0% 0.07% +0.02
PEP Pepsico Inc. Add +61.7% 0.09% +0.02
BAC Bank of America Corp. Add +56.7% 0.08% +0.02
ISRG Intuitive Surgical Inc. Add +62.8% 0.06% +0.02
QCOM Qualcomm Inc. Add +25.9% 0.10% +0.02
MA Mastercard Inc. Class A Add +57.6% 0.10% +0.02
ORCL Oracle Corp. Add +58.3% 0.06% +0.02
JNJ Johnson & Johnson Add +58.4% 0.10% +0.02
KLAC KLA Corp. Add +52.0% 0.06% +0.02
KO The Coca-Cola Co. Add +57.8% 0.07% +0.02
INTU Intuit Inc. Add +61.7% 0.07% +0.02
CVX Chevron Corp. Add +56.1% 0.08% +0.02
CSCO Cisco Systems Inc. Add +61.1% 0.07% +0.02
HD Home Depot Inc. Add +57.7% 0.09% +0.02
BKNG Booking Holdings Inc. Add +58.4% 0.05% +0.02
VRTX Vertex Pharmaceuticals Inc. Add +61.9% 0.05% +0.02
HON Honeywell International Inc. Add +60.2% 0.05% +0.02
TMUS T-Mobile US Inc. Add +63.1% 0.05% +0.02
NEE Nextera Energy Inc. Add +58.5% 0.04% +0.02
PM Philip Morris International Add +58.4% 0.04% +0.02
REGN Regeneron Pharmaceuticals Add +62.5% 0.04% +0.02
KKR KKR & Co. Inc. Add +456.6% 0.02% +0.02
TMO Thermo Fisher Scientific Inc. Add +56.4% 0.06% +0.01
DHR Danaher Corp. Add +58.7% 0.05% +0.01
NOW ServiceNow Inc. Add +58.3% 0.04% +0.01
GS Goldman Sachs Group Inc. Add +56.9% 0.04% +0.01
VZ Verizon Communications Inc. Add +58.5% 0.05% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 467$34.6BVTI, VT, VXUS, SCHD, NVDA
Q1 2026 464$49.2BVTI, VT, SCHD, VXUS, VOO
Q4 2025 607$29.7BVTI, VT, SCHD, VXUS, NVDA
Q3 2025 637$28.1BVTI, VT, SCHD, VXUS, ORLY
Q1 2025 694$21.8BVTI, VT, SCHD, VXUS, VOO
Q3 2024 533$17.1BVTI, VT, AAPL, NVDA, VYM
Q2 2024 536$15.2BVTI, VT, NVDA, AAPL, VYM
Q1 2024 533$13.6BVTI, VT, VYM, AAPL, NVDA