Rakuten Investment Management, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Rakuten Investment Management, Inc. reported 607 stock positions worth $29.7 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 52.3% of the portfolio, followed by Vanguard Tot World STK ETF (VT, 7.2%) and Schwab US DVD Equity ETF (SCHD, 3.8%). Compared with Q3 2025, it opened 11 new positions, sold out of 42, added to 307 and reduced 254. The biggest buy was Nvidia (NVDA, shares +6661%) and the biggest sale O'reilly Automotive (ORLY, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- TOKYO, M0
- CIK
- 0002062680
- Portfolio Value
- $29.7B (Q4 2025)
- SEC Filing
- 0000898432-26-000121 ↗ filed Feb 17, 2026
Holdings Value
Holdings 607 stocks · $29.7B
| VTI VG Morningstar TS MKT ETF-US | 52.31% | 47,479,738 | $15.5B | No change |
| VT Vanguard Tot World STK ETF | 7.17% | 15,505,097 | $2.1B | No change |
| SCHD Schwab US DVD Equity ETF | 3.80% | 41,592,034 | $1.1B | No change |
| VXUS Vanguard Total Intl Stock | 3.71% | 15,070,900 | $1.1B | No change |
| NVDA Nvidia Corp. | 2.38% | 3,757,295 | $707.2M | Add +6661.3% |
| AAPL Apple Inc. | 2.06% | 2,235,441 | $612.0M | Add +7643.7% |
| MSFT Microsoft Corp. | 1.82% | 1,107,445 | $539.4M | Add +7429.0% |
| VOO Vanguard S&P 500 ETF | 1.78% | 867,009 | $529.0M | No change |
| AMZN Amazon.com Inc. | 1.16% | 1,483,366 | $344.2M | Add +647.5% |
| GOOGL Alphabet Inc. Class A | 0.93% | 879,065 | $275.6M | Add +17950.6% |
| AVGO Broadcom Inc. | 0.86% | 734,805 | $256.7M | Add +15756.8% |
| GOOG Alphabet Inc. Class C | 0.77% | 727,464 | $228.7M | Reduce -8.3% |
| META Meta Platforms Inc. Class A | 0.76% | 343,623 | $226.3M | Add +161.8% |
| TSLA Tesla Inc. | 0.71% | 456,834 | $210.0M | Add +3831.1% |
| VYM Vanguard High DVD Yield ETF | 0.67% | 1,418,554 | $199.3M | No change |
| JPM JPMorgan Chase & Co. | 0.39% | 359,277 | $116.3M | Add +898.5% |
| LLY Eli Lilly & Co. | 0.38% | 104,905 | $113.2M | Add +248.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.37% | 221,944 | $111.2M | Add +556.0% |
| V Visa Inc. Class A | 0.27% | 222,475 | $78.9M | Add +154.5% |
| PLTR Palantir Technologies Inc. Class A | 0.26% | 423,436 | $78.0M | Add +1245.2% |
| AMD Advanced Micro Devices | 0.25% | 348,137 | $75.1M | Add +11.9% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.25% | 2,245,603 | $74.6M | No change |
| NFLX Netflix Inc. | 0.25% | 786,640 | $74.1M | Add +743.7% |
| COST Costco Wholesale Corp. | 0.24% | 82,221 | $71.4M | Add +28648.6% |
| IVV iShares Core S&P 500 ETF | 0.23% | 104,287 | $69.5M | No change |
| MU Micron Technology Inc. | 0.23% | 229,703 | $67.6M | Add +172.5% |
| XOM Exxon Mobil Corp. | 0.23% | 556,719 | $67.1M | Add +238.2% |
| JNJ Johnson & Johnson | 0.22% | 316,901 | $65.8M | Add +597.0% |
| WMT Walmart Inc. | 0.22% | 576,854 | $64.9M | Add +8527.8% |
| MA Mastercard Inc. Class A | 0.21% | 109,239 | $63.1M | Add +1833.1% |
| CSCO Cisco Systems Inc. | 0.19% | 732,195 | $57.0M | Add +1559.0% |
| ABBV Abbvie Inc. | 0.18% | 232,464 | $53.7M | Add +11.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.17% | 897,273 | $49.7M | Add +7006.6% |
| LRCX Lam Research Corp. | 0.16% | 265,528 | $46.7M | Add +617.7% |
| HD Home Depot Inc. | 0.15% | 130,943 | $45.5M | Add +1474.4% |
| PG The Procter & Gamble Co. | 0.15% | 307,556 | $44.5M | Reduce -54.3% |
| AMAT Applied Materials Inc. | 0.15% | 167,938 | $44.2M | Add +214.4% |
| ORCL Oracle Corp. | 0.15% | 222,600 | $43.5M | Add +2240.2% |
| GE General Electric filed as GE AEROSPACE | 0.15% | 138,999 | $43.3M | Reduce -18.0% |
| USRT iShares Core US REIT ETF | 0.15% | 741,871 | $43.2M | No change |
| VWO Vanguard Ftse Emerging Marke | 0.14% | 768,628 | $41.5M | No change |
| QCOM Qualcomm Inc. | 0.13% | 228,765 | $39.7M | Add +162.1% |
| WFC Wells Fargo & Co. | 0.13% | 415,672 | $39.3M | Add +894.3% |
| UNH Unitedhealth Group Inc. | 0.13% | 119,156 | $39.2M | Add +353.3% |
| ISRG Intuitive Surgical Inc. | 0.13% | 65,937 | $37.9M | Reduce -92.4% |
| CVX Chevron Corp. | 0.13% | 250,471 | $37.8M | Add +6207.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.13% | 122,828 | $37.6M | Add +1977.6% |
| PEP Pepsico Inc. | 0.12% | 253,873 | $36.6M | Add +7891.0% |
| KO The Coca-Cola Co. | 0.12% | 518,481 | $36.4M | Add +4370.1% |
| KLAC KLA Corp. | 0.12% | 28,686 | $36.2M | Add +143.9% |
| INTC Intel Corp. | 0.12% | 973,008 | $35.7M | Add +10452.1% |
| CAT Caterpillar Inc. | 0.12% | 61,583 | $35.6M | Add +408.6% |
| GS Goldman Sachs Group Inc. | 0.12% | 39,574 | $35.3M | Add +141.2% |
| APP AppLovin Corp. Class A | 0.12% | 50,519 | $35.3M | Reduce -97.5% |
| MRK Merck & Co. Inc. | 0.12% | 327,509 | $34.9M | Add +4501.1% |
| TXN Texas Instruments Inc. | 0.12% | 198,529 | $34.9M | Add +388.9% |
| INTU Intuit Inc. | 0.12% | 51,697 | $34.9M | Add +522.3% |
| CRM Salesforce Inc. | 0.11% | 125,456 | $33.4M | Add +625.6% |
| VCIT Vanguard Int-Term Corporate | 0.11% | 395,967 | $33.3M | No change |
| PM Philip Morris International | 0.11% | 204,773 | $33.2M | Reduce -44.7% |
| AMGN Amgen Inc. | 0.11% | 99,999 | $33.0M | Add +266.9% |
| BKNG Booking Holdings Inc. | 0.11% | 5,988 | $32.6M | Reduce -93.1% |
| RTX RTX Corp. | 0.11% | 176,284 | $32.5M | Add +67.0% |
| ADI Analog Devices Inc. | 0.10% | 110,131 | $30.4M | Reduce -23.4% |
| TMO Thermo Fisher Scientific Inc. | 0.10% | 49,562 | $29.0M | Add +201.9% |
| MCD McDonald's Corp. | 0.10% | 93,745 | $28.9M | Add +19677.4% |
| GILD Gilead Sciences Inc. | 0.10% | 230,184 | $28.8M | Add +252.0% |
| MS Morgan Stanley | 0.10% | 158,445 | $28.5M | Add +467.1% |
| ABT Abbott Laboratories | 0.10% | 228,815 | $28.5M | Add +11.4% |
| C Citigroup Inc. | 0.09% | 237,567 | $28.1M | Add +723.3% |
| ADBE Adobe Inc. | 0.09% | 77,825 | $27.5M | Add +12.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.09% | 235,656 | $26.9M | Add +27.4% |
| AXP American Express Co. | 0.09% | 71,504 | $26.8M | Reduce -17.9% |
| TMUS T-Mobile US Inc. | 0.09% | 124,723 | $25.3M | Add +408.0% |
| GEV GE Vernova Inc. | 0.08% | 35,860 | $23.8M | Add +18.6% |
| PANW Palo Alto Networks Inc. | 0.08% | 127,298 | $23.8M | Add +42332.7% |
| HON Honeywell International Inc. | 0.08% | 117,788 | $23.2M | Add +567.9% |
| T AT&T Inc. | 0.08% | 935,195 | $23.2M | Add +22872.1% |
| VEA Vanguard Ftse Developed ETF | 0.08% | 384,275 | $22.9M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.08% | 146,407 | $22.9M | Add +402.8% |
| SCHW Schwab (charles) Corp. | 0.08% | 222,319 | $22.5M | Add +949.8% |
| VZ Verizon Communications Inc. | 0.08% | 554,665 | $22.5M | Add +15201.1% |
| BA The Boeing Co. | 0.08% | 103,099 | $22.4M | Add +502.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.07% | 46,559 | $22.2M | Reduce -48.3% |
| APH Amphenol Corp. Class A | 0.07% | 160,891 | $22.0M | Add +83.0% |
| UBER Uber Technologies Inc. | 0.07% | 269,242 | $21.9M | Add +270.4% |
| NEE Nextera Energy Inc. | 0.07% | 272,979 | $21.9M | Add +1287.3% |
| VRTX Vertex Pharmaceuticals Inc. | 0.07% | 47,185 | $21.7M | Reduce -80.5% |
| SPGI S&P Global Inc. | 0.07% | 40,884 | $21.7M | Add +66.6% |
| IEMG iShares Core MSCI Emerging | 0.07% | 323,684 | $21.3M | No change |
| NOW ServiceNow Inc. | 0.07% | 136,748 | $21.1M | Add +55.9% |
| CEG Constellation Energy | 0.07% | 57,943 | $20.8M | Add +49.9% |
| COF Capital One Financial Corp. | 0.07% | 83,791 | $20.6M | New |
| CMCSA Comcast Corp. Class A | 0.07% | 676,332 | $20.2M | Add +747.8% |
| ADP Automatic Data Processing | 0.07% | 75,063 | $19.5M | Add +297.5% |
| DHR Danaher Corp. | 0.07% | 83,636 | $19.3M | Add +1824.0% |
| PFE Pfizer Inc. | 0.06% | 747,946 | $18.7M | Add +773.9% |
| BSX Boston Scientific Corp. | 0.06% | 194,985 | $18.7M | Add +118.0% |
| ANET Arista Networks Inc. | 0.06% | 137,353 | $18.4M | Add +142.2% |
| UNP Union Pacific Corp. | 0.06% | 78,029 | $18.3M | Add +1301.6% |
Portfolio Sells Q3 2025 → Q4 2025
| ORLY O'reilly Automotive Inc. | Reduce -95.4% | 0.05% | −2.15 |
| MNST Monster Beverage Corp. | Reduce -85.3% | 0.04% | −1.79 |
| APP AppLovin Corp. Class A | Reduce -97.5% | 0.12% | −1.72 |
| BF.B Brown-Forman Corp. Class B | Reduce -96.5% | 0.00% | −0.84 |
| MOH Molina Healthcare Inc. | Reduce -98.5% | 0.00% | −0.78 |
| TRV The Travelers Cos Inc. | Reduce -92.7% | 0.03% | −0.60 |
| MO Altria Group Inc. | Reduce -66.5% | 0.04% | −0.53 |
| BIIB Biogen Inc. | Reduce -90.3% | 0.01% | −0.34 |
| KKR KKR & Co. Inc. | Reduce -73.1% | 0.04% | −0.33 |
| NTRS Northern Trust Corp. | Reduce -64.0% | 0.01% | −0.29 |
| EOG EOG Resources Inc. | Reduce -24.1% | 0.03% | −0.22 |
| WMB Williams Cos Inc. | Reduce -20.1% | 0.03% | −0.21 |
| JEPQ JPM Nasdaq Equity Premium | Sold out | 0.00% | −0.21 |
| FRT Federal Realty Invs Trust | Reduce -98.6% | 0.00% | −0.20 |
| MTD Mettler-Toledo International | Reduce -97.3% | 0.01% | −0.19 |
| KIM Kimco Realty Corp. | Reduce -68.7% | 0.01% | −0.18 |
| PYPL PayPal Holdings Inc. | Reduce -12.5% | 0.03% | −0.16 |
| WDAY Workday Inc. Class A | Reduce -92.2% | 0.03% | −0.16 |
| HUBB Hubbell Inc. | Reduce -94.0% | 0.01% | −0.16 |
| RL Ralph Lauren Corp. | Reduce -98.8% | 0.00% | −0.15 |
| NET Cloudflare Inc. Class A | Reduce -98.0% | 0.01% | −0.15 |
| BDX Becton Dickinson and Co. | Reduce -95.4% | 0.02% | −0.13 |
| MTSI Macom Technology Solutions H | Reduce -91.0% | 0.00% | −0.13 |
| PM Philip Morris International | Reduce -44.7% | 0.11% | −0.12 |
| GIS General Mills Inc. | Reduce -44.0% | 0.01% | −0.12 |
| CHD Church & Dwight Co. Inc. | Reduce -86.1% | 0.01% | −0.12 |
| RIVN Rivian Automotive Inc. Class A | Reduce -83.1% | 0.00% | −0.12 |
| VMC Vulcan Materials Co. | Reduce -83.8% | 0.02% | −0.11 |
| LKQ LKQ Corp. | Sold out | 0.00% | −0.11 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -93.0% | 0.01% | −0.11 |
| PFG Principal Financial Group | Reduce -87.8% | 0.01% | −0.10 |
| HTHT H World Group Ltd.-ADR | Reduce -79.1% | 0.00% | −0.10 |
| SJM The JM Smucker Co. | Reduce -87.6% | 0.00% | −0.09 |
| IQV Iqvia Holdings Inc. | Reduce -79.6% | 0.02% | −0.09 |
| COIN Coinbase Global Inc. Class A | Reduce -93.8% | 0.02% | −0.09 |
| SWKS Skyworks Solutions Inc. | Reduce -82.9% | 0.01% | −0.09 |
| WPC WP Carey Inc. | Reduce -95.6% | 0.00% | −0.08 |
| MPWR Monolithic Power Systems Inc. | Reduce -93.8% | 0.04% | −0.08 |
| MHK Mohawk Industries Inc. | Sold out | 0.00% | −0.08 |
| SCCO Southern Copper Corp. | Reduce -86.2% | 0.00% | −0.08 |
| UAL United Airlines Holdings Inc. | Reduce -70.3% | 0.01% | −0.08 |
| AFG American Financial Group Inc. | Reduce -95.6% | 0.00% | −0.08 |
| NWSA News Corp. Class A | Reduce -65.4% | 0.00% | −0.08 |
| HUBS HubSpot Inc. | Reduce -98.0% | 0.00% | −0.07 |
| UDR Udr Inc. | Reduce -10.2% | 0.01% | −0.07 |
| SFD Smithfield Foods Inc. | Reduce -96.1% | 0.00% | −0.06 |
| COR Cencora Inc. | Reduce -54.7% | 0.03% | −0.06 |
| AVY Avery Dennison Corp. | Reduce -84.6% | 0.01% | −0.06 |
| GPC Genuine Parts Co. | Reduce -43.3% | 0.01% | −0.06 |
| WEC WEC Energy Group Inc. | Reduce -91.4% | 0.02% | −0.06 |
Portfolio Buys Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | Add +6661.3% | 2.38% | +2.37 |
| AAPL Apple Inc. | Add +7643.7% | 2.06% | +2.06 |
| MSFT Microsoft Corp. | Add +7429.0% | 1.82% | +1.78 |
| AMZN Amazon.com Inc. | Add +647.5% | 1.16% | +1.11 |
| GOOGL Alphabet Inc. Class A | Add +17950.6% | 0.93% | +0.92 |
| AVGO Broadcom Inc. | Add +15756.8% | 0.86% | +0.86 |
| META Meta Platforms Inc. Class A | Add +161.8% | 0.76% | +0.72 |
| TSLA Tesla Inc. | Add +3831.1% | 0.71% | +0.70 |
| JPM JPMorgan Chase & Co. | Add +898.5% | 0.39% | +0.39 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +556.0% | 0.37% | +0.35 |
| LLY Eli Lilly & Co. | Add +248.2% | 0.38% | +0.35 |
| PLTR Palantir Technologies Inc. Class A | Add +1245.2% | 0.26% | +0.25 |
| COST Costco Wholesale Corp. | Add +28648.6% | 0.24% | +0.24 |
| V Visa Inc. Class A | Add +154.5% | 0.27% | +0.24 |
| NFLX Netflix Inc. | Add +743.7% | 0.25% | +0.22 |
| WMT Walmart Inc. | Add +8527.8% | 0.22% | +0.21 |
| MA Mastercard Inc. Class A | Add +1833.1% | 0.21% | +0.21 |
| XOM Exxon Mobil Corp. | Add +238.2% | 0.23% | +0.20 |
| HD Home Depot Inc. | Add +1474.4% | 0.15% | +0.15 |
| CSCO Cisco Systems Inc. | Add +1559.0% | 0.19% | +0.15 |
| ORCL Oracle Corp. | Add +2240.2% | 0.15% | +0.14 |
| LRCX Lam Research Corp. | Add +617.7% | 0.16% | +0.14 |
| MU Micron Technology Inc. | Add +172.5% | 0.23% | +0.14 |
| BAC Bank of America Corp. | Add +7006.6% | 0.17% | +0.14 |
| CVX Chevron Corp. | Add +6207.5% | 0.13% | +0.13 |
| IBM Intl Business Machines Corp. | Add +1977.6% | 0.13% | +0.12 |
| AMAT Applied Materials Inc. | Add +214.4% | 0.15% | +0.12 |
| QCOM Qualcomm Inc. | Add +162.1% | 0.13% | +0.12 |
| PEP Pepsico Inc. | Add +7891.0% | 0.12% | +0.12 |
| KLAC KLA Corp. | Add +143.9% | 0.12% | +0.12 |
| CAT Caterpillar Inc. | Add +408.6% | 0.12% | +0.12 |
| INTC Intel Corp. | Add +10452.1% | 0.12% | +0.11 |
| KO The Coca-Cola Co. | Add +4370.1% | 0.12% | +0.11 |
| GS Goldman Sachs Group Inc. | Add +141.2% | 0.12% | +0.11 |
| JNJ Johnson & Johnson | Add +597.0% | 0.22% | +0.11 |
| INTU Intuit Inc. | Add +522.3% | 0.12% | +0.11 |
| MRK Merck & Co. Inc. | Add +4501.1% | 0.12% | +0.10 |
| RTX RTX Corp. | Add +67.0% | 0.11% | +0.10 |
| CRM Salesforce Inc. | Add +625.6% | 0.11% | +0.10 |
| MCD McDonald's Corp. | Add +19677.4% | 0.10% | +0.09 |
| MS Morgan Stanley | Add +467.1% | 0.10% | +0.09 |
| UNH Unitedhealth Group Inc. | Add +353.3% | 0.13% | +0.09 |
| AMGN Amgen Inc. | Add +266.9% | 0.11% | +0.09 |
| GILD Gilead Sciences Inc. | Add +252.0% | 0.10% | +0.09 |
| C Citigroup Inc. | Add +723.3% | 0.09% | +0.09 |
| TMO Thermo Fisher Scientific Inc. | Add +201.9% | 0.10% | +0.08 |
| PANW Palo Alto Networks Inc. | Add +42332.7% | 0.08% | +0.08 |
| TMUS T-Mobile US Inc. | Add +408.0% | 0.09% | +0.08 |
| VZ Verizon Communications Inc. | Add +15201.1% | 0.08% | +0.07 |
| T AT&T Inc. | Add +22872.1% | 0.08% | +0.07 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 467 | $34.6B | VTI, VT, VXUS, SCHD, NVDA |
| Q1 2026 | 464 | $49.2B | VTI, VT, SCHD, VXUS, VOO |
| Q4 2025 | 607 | $29.7B | VTI, VT, SCHD, VXUS, NVDA |
| Q3 2025 | 637 | $28.1B | VTI, VT, SCHD, VXUS, ORLY |
| Q1 2025 | 694 | $21.8B | VTI, VT, SCHD, VXUS, VOO |
| Q3 2024 | 533 | $17.1B | VTI, VT, AAPL, NVDA, VYM |
| Q2 2024 | 536 | $15.2B | VTI, VT, NVDA, AAPL, VYM |
| Q1 2024 | 533 | $13.6B | VTI, VT, VYM, AAPL, NVDA |