Rheos Capital Works Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 24, 2024), Rheos Capital Works Inc. reported 98 stock positions worth $1.9 billion. Its top holding was Nvidia (NVDA) at 6.0% of the portfolio, followed by Microsoft (MSFT, 5.4%) and Qualcomm (QCOM, 5.2%). Compared with Q1 2024, it opened 19 new positions, sold out of 19, added to 32 and reduced 22. The biggest buy was Alphabet Class C (GOOG, shares +79%) and the biggest sale Microsoft (MSFT, shares −42%).
- Most Recent 13F
- Q2 2026
- Location
- Tokyo, M0
- CIK
- 0001735445
- Portfolio Value
- $1.9B (Q2 2024)
- SEC Filing
- 0001099910-24-000274 ↗ filed Jul 24, 2024
Holdings Value
Holdings 98 stocks · $1.9B
| NVDA Nvidia Corp. | 6.02% | 930,000 | $114.9M | Reduce -42.1% |
| MSFT Microsoft Corp. | 5.37% | 229,300 | $102.5M | Reduce -42.4% |
| QCOM Qualcomm Inc. | 5.21% | 499,400 | $99.5M | Reduce -11.2% |
| GOOG Alphabet Inc. Class C | 3.27% | 340,000 | $62.4M | Add +79.0% |
| CCJ Cameco Corp. | 3.25% | 1,260,000 | $62.0M | Reduce -7.3% |
| AMZN Amazon.com Inc. | 3.23% | 318,800 | $61.6M | Reduce -6.7% |
| LLY Eli Lilly & Co. | 2.91% | 61,400 | $55.6M | Reduce -45.7% |
| CROX Crocs Inc. | 2.42% | 316,300 | $46.2M | Add +100.2% |
| ARM Arm Holdings PLC-ADR | 2.30% | 268,900 | $44.0M | Add +4.7% |
| V Visa Inc. Class A | 2.09% | 152,200 | $39.9M | No change |
| EMR Emerson Electric Co. | 1.94% | 337,100 | $37.1M | No change |
| RACE Ferrari NV | 1.83% | 85,700 | $35.0M | Reduce -54.1% |
| STX Seagate Technology Holdings | 1.75% | 323,500 | $33.4M | Add +18.3% |
| MDGL Madrigal Pharmaceuticals Inc. | 1.62% | 110,215 | $30.9M | No change |
| GS Goldman Sachs Group Inc. | 1.61% | 68,000 | $30.8M | New |
| MSI Motorola Solutions Inc. | 1.61% | 79,500 | $30.7M | Reduce -21.7% |
| C Citigroup Inc. | 1.53% | 461,000 | $29.3M | New |
| AMAT Applied Materials Inc. | 1.52% | 122,600 | $28.9M | Add +68.9% |
| RTX RTX Corp. | 1.51% | 287,800 | $28.9M | Add +35.2% |
| HSY The Hershey Co. | 1.48% | 154,000 | $28.3M | Add +0.7% |
| TTEK Tetra Tech Inc. | 1.47% | 136,800 | $28.0M | No change |
| CASY Casey's General Stores Inc. | 1.32% | 66,100 | $25.2M | Add +34.9% |
| NEE Nextera Energy Inc. | 1.24% | 335,000 | $23.7M | No change |
| TMO Thermo Fisher Scientific Inc. | 1.24% | 42,700 | $23.6M | Add +158.8% |
| NFLX Netflix Inc. | 1.17% | 33,200 | $22.4M | Add +5.4% |
| COST Costco Wholesale Corp. | 1.17% | 26,300 | $22.4M | Add +26.4% |
| PANW Palo Alto Networks Inc. | 1.15% | 65,000 | $22.0M | Reduce -42.0% |
| HDB HDFC Bank Ltd.-ADR | 1.13% | 334,000 | $21.5M | Add +283.9% |
| SPOT Spotify Technology SA | 1.09% | 66,500 | $20.9M | Add +70.5% |
| WMT Walmart Inc. | 1.09% | 306,400 | $20.7M | Add +60.1% |
| LMT Lockheed Martin Corp. | 1.07% | 43,800 | $20.5M | Add +63.4% |
| ROST Ross Stores Inc. | 1.06% | 139,500 | $20.3M | Add +240.2% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 1.05% | 229,000 | $20.1M | Add +275.4% |
| AXP American Express Co. | 1.00% | 82,700 | $19.1M | Reduce -55.2% |
| HPE Hewlett Packard Enterprise | 1.00% | 900,000 | $19.1M | New |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.97% | 476,000 | $18.5M | Add +58.7% |
| CEG Constellation Energy | 0.96% | 92,000 | $18.4M | Reduce -60.9% |
| DAR Darling Ingredients Inc. | 0.96% | 500,000 | $18.4M | Add +100.0% |
| OLLI Ollie's Bargain Outlet Holdi | 0.94% | 182,000 | $17.9M | Add +43.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.91% | 175,900 | $17.5M | No change |
| MDB Mongodb Inc. | 0.88% | 67,000 | $16.7M | No change |
| XYL Xylem Inc. | 0.86% | 120,900 | $16.4M | No change |
| ORLY O'reilly Automotive Inc. | 0.85% | 15,300 | $16.2M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.82% | 141,600 | $15.6M | Add +177.7% |
| SNAP Snap Inc. Class A | 0.78% | 900,000 | $14.9M | New |
| PCOR Procore Technologies Inc. | 0.77% | 223,000 | $14.8M | Add +48.7% |
| GFS Globalfoundries Inc. | 0.70% | 263,000 | $13.3M | No change |
| LHX L3HARRIS Technologies Inc. | 0.70% | 59,200 | $13.3M | Add +26.2% |
| A Agilent Technologies Inc. | 0.67% | 99,200 | $12.9M | Add +31.9% |
| BTU Peabody Energy Corp. | 0.67% | 579,500 | $12.8M | No change |
| SCI Service Corp. International | 0.67% | 180,000 | $12.8M | Add +24.1% |
| KRUS Kura Sushi USA Inc. Class A | 0.63% | 192,000 | $12.1M | Add +102.1% |
| MKL Markel Group Inc. | 0.62% | 7,500 | $11.8M | No change |
| LDOS Leidos Holdings Inc. | 0.60% | 79,000 | $11.5M | Add +5.3% |
| RCL Royal Caribbean Cruises Ltd. | 0.57% | 68,400 | $10.9M | New |
| INSP Inspire Medical Systems Inc. | 0.56% | 79,400 | $10.6M | No change |
| JOBY Joby Aviation Inc. | 0.55% | 2,055,000 | $10.5M | No change |
| BX Blackstone Inc. | 0.53% | 82,000 | $10.2M | No change |
| MEDP Medpace Holdings Inc. | 0.53% | 24,601 | $10.1M | No change |
| AMRC Ameresco Inc. Class A | 0.53% | 350,700 | $10.1M | Add +27.2% |
| ON On Semiconductor | 0.53% | 146,500 | $10.0M | New |
| OPCH Option Care Health Inc. | 0.52% | 357,600 | $9.9M | No change |
| TLN Talen Energy Corp. | 0.50% | 86,000 | $9.5M | New |
| BWA Borgwarner Inc. | 0.48% | 287,100 | $9.3M | Add +11.2% |
| GEV GE Vernova Inc. | 0.47% | 51,850 | $8.9M | Add +13.1% |
| LW Lamb Weston Holdings Inc. | 0.44% | 100,000 | $8.4M | No change |
| AVGO Broadcom Inc. | 0.44% | 5,200 | $8.3M | Reduce -68.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.42% | 46,000 | $8.0M | Reduce -52.6% |
| EQIX Equinix Inc. | 0.40% | 10,000 | $7.6M | Reduce -63.2% |
| VRT Vertiv Holdings Co. Class A | 0.38% | 84,800 | $7.3M | Reduce -83.7% |
| ASML ASML Holding NV-NY Reg SHS | 0.38% | 7,100 | $7.3M | Reduce -53.0% |
| ANET Arista Networks Inc. | 0.38% | 20,500 | $7.2M | Reduce -45.3% |
| KEY Keycorp | 0.37% | 500,000 | $7.1M | No change |
| DHR Danaher Corp. | 0.36% | 27,500 | $6.9M | New |
| INTC Intel Corp. | 0.35% | 217,000 | $6.7M | No change |
| DHI D.R. Horton Inc. | 0.33% | 45,000 | $6.3M | Add +28.6% |
| HUM Humana Inc. | 0.29% | 15,000 | $5.6M | New |
| KNSL Kinsale Capital Group Inc. | 0.29% | 14,400 | $5.5M | No change |
| ELV Elevance Health Inc. | 0.28% | 10,000 | $5.4M | New |
| ISRG Intuitive Surgical Inc. | 0.28% | 12,000 | $5.3M | Reduce -62.5% |
| GTLS Chart Industries Inc. | 0.28% | 36,500 | $5.3M | No change |
| SMR Nuscale Power Corp. | 0.28% | 450,000 | $5.3M | Add +80.0% |
| HLI Houlihan Lokey Inc. | 0.27% | 38,400 | $5.2M | New |
| TAP Molson Coors Beverage Co. Class B | 0.27% | 100,000 | $5.1M | New |
| AKRO Akero Therapeutics Inc. | 0.27% | 216,000 | $5.1M | New |
| ETN Eaton Corp. PLC | 0.25% | 15,000 | $4.7M | Reduce -46.4% |
| BTI British American Tob-SP ADR | 0.24% | 150,000 | $4.6M | New |
| APH Amphenol Corp. Class A | 0.24% | 68,000 | $4.6M | New |
| CME Cme Group Inc. | 0.24% | 23,300 | $4.6M | Reduce -66.1% |
| CBOE Cboe Global Markets Inc. | 0.24% | 26,700 | $4.5M | Reduce -67.2% |
| ESAB Esab Corp. | 0.23% | 46,666 | $4.4M | No change |
| VST Vistra Corp. | 0.23% | 50,000 | $4.3M | New |
| WOLF Wolfspeed Inc. | 0.21% | 177,500 | $4.0M | No change |
| LSCC Lattice Semiconductor Corp. | 0.20% | 67,400 | $3.9M | No change |
| LULU Lululemon Athletica Inc. | 0.20% | 13,000 | $3.9M | New |
| COIN Coinbase Global Inc. Class A | 0.20% | 17,000 | $3.8M | New |
| LAZ Lazard Inc. | 0.16% | 80,000 | $3.1M | New |
| ACN Accenture PLC Class A | 0.16% | 10,000 | $3.0M | Reduce -60.0% |
Portfolio Sells Q1 2024 → Q2 2024
| MSFT Microsoft Corp. | Reduce -42.4% | 5.37% | −2.64 |
| RACE Ferrari NV | Reduce -54.1% | 1.83% | −2.06 |
| AAPL Apple Inc. | Sold out | 0.00% | −1.71 |
| VRT Vertiv Holdings Co. Class A | Reduce -83.7% | 0.38% | −1.65 |
| GE General Electric | Sold out | 0.00% | −1.54 |
| LLY Eli Lilly & Co. | Reduce -45.7% | 2.91% | −1.30 |
| CEG Constellation Energy | Reduce -60.9% | 0.96% | −1.11 |
| AXP American Express Co. | Reduce -55.2% | 1.00% | −1.01 |
| NVDA Nvidia Corp. | Reduce -42.1% | 6.02% | −0.93 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.92 |
| BILL Bill Holdings Inc. | Sold out | 0.00% | −0.84 |
| ROP Roper Technologies Inc. | Sold out | 0.00% | −0.82 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.76 |
| EQIX Equinix Inc. | Reduce -63.2% | 0.40% | −0.68 |
| AVGO Broadcom Inc. | Reduce -68.1% | 0.44% | −0.60 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −0.55 |
| SLG SL Green Realty Corp. | Sold out | 0.00% | −0.55 |
| AMT American Tower Corp. | Sold out | 0.00% | −0.54 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.54 |
| EOG EOG Resources Inc. | Sold out | 0.00% | −0.49 |
| TTWO Take-Two Interactive Softwre | Sold out | 0.00% | −0.49 |
| CBOE Cboe Global Markets Inc. | Reduce -67.2% | 0.24% | −0.48 |
| CME Cme Group Inc. | Reduce -66.1% | 0.24% | −0.47 |
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −0.45 |
| VNO Vornado Realty Trust | Sold out | 0.00% | −0.44 |
| PANW Palo Alto Networks Inc. | Reduce -42.0% | 1.15% | −0.37 |
| EXPO Exponent Inc. | Sold out | 0.00% | −0.34 |
| ISRG Intuitive Surgical Inc. | Reduce -62.5% | 0.28% | −0.33 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -53.0% | 0.38% | −0.32 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.29 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.28 |
| PWSC Powerschool Holdings Inc. Class A | Sold out | 0.00% | −0.26 |
| ACN Accenture PLC Class A | Reduce -60.0% | 0.16% | −0.26 |
| DOCS Doximity Inc. Class A | Sold out | 0.00% | −0.22 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -52.6% | 0.42% | −0.21 |
| ETN Eaton Corp. PLC | Reduce -46.4% | 0.25% | −0.17 |
| ANET Arista Networks Inc. | Reduce -45.3% | 0.38% | −0.14 |
| MSI Motorola Solutions Inc. | Reduce -21.7% | 1.61% | −0.12 |
| AMZN Amazon.com Inc. | Reduce -6.7% | 3.23% | +0.28 |
| CCJ Cameco Corp. | Reduce -7.3% | 3.25% | +0.43 |
| QCOM Qualcomm Inc. | Reduce -11.2% | 5.21% | +0.65 |
Portfolio Buys Q1 2024 → Q2 2024
| GOOG Alphabet Inc. Class C | Add +79.0% | 3.27% | +1.88 |
| GS Goldman Sachs Group Inc. | New | 1.61% | +1.61 |
| C Citigroup Inc. | New | 1.53% | +1.53 |
| CROX Crocs Inc. | Add +100.2% | 2.42% | +1.33 |
| HPE Hewlett Packard Enterprise | New | 1.00% | +1.00 |
| HDB HDFC Bank Ltd.-ADR | Add +283.9% | 1.13% | +0.89 |
| BJ Bj's Wholesale Club Holdings | Add +275.4% | 1.05% | +0.83 |
| AMAT Applied Materials Inc. | Add +68.9% | 1.52% | +0.80 |
| SNAP Snap Inc. Class A | New | 0.78% | +0.78 |
| TMO Thermo Fisher Scientific Inc. | Add +158.8% | 1.24% | +0.78 |
| ROST Ross Stores Inc. | Add +240.2% | 1.06% | +0.77 |
| ARM Arm Holdings PLC-ADR | Add +4.7% | 2.30% | +0.77 |
| SPOT Spotify Technology SA | Add +70.5% | 1.09% | +0.60 |
| CASY Casey's General Stores Inc. | Add +34.9% | 1.32% | +0.57 |
| RCL Royal Caribbean Cruises Ltd. | New | 0.57% | +0.57 |
| TJX TJX Companies Inc. | Add +177.7% | 0.82% | +0.57 |
| WMT Walmart Inc. | Add +60.1% | 1.09% | +0.54 |
| STX Seagate Technology Holdings | Add +18.3% | 1.75% | +0.53 |
| ON On Semiconductor | New | 0.53% | +0.53 |
| RTX RTX Corp. | Add +35.2% | 1.51% | +0.52 |
| TLN Talen Energy Corp. | New | 0.50% | +0.50 |
| LMT Lockheed Martin Corp. | Add +63.4% | 1.07% | +0.49 |
| ONON On Holding AG Class A | Add +58.7% | 0.97% | +0.46 |
| OLLI Ollie's Bargain Outlet Holdi | Add +43.3% | 0.94% | +0.45 |
| COST Costco Wholesale Corp. | Add +26.4% | 1.17% | +0.44 |
| DAR Darling Ingredients Inc. | Add +100.0% | 0.96% | +0.41 |
| DHR Danaher Corp. | New | 0.36% | +0.36 |
| HUM Humana Inc. | New | 0.29% | +0.29 |
| ELV Elevance Health Inc. | New | 0.28% | +0.28 |
| HLI Houlihan Lokey Inc. | New | 0.27% | +0.27 |
| TAP Molson Coors Beverage Co. Class B | New | 0.27% | +0.27 |
| AKRO Akero Therapeutics Inc. | New | 0.27% | +0.27 |
| NFLX Netflix Inc. | Add +5.4% | 1.17% | +0.26 |
| BTI British American Tob-SP ADR | New | 0.24% | +0.24 |
| APH Amphenol Corp. Class A | New | 0.24% | +0.24 |
| VST Vistra Corp. | New | 0.23% | +0.23 |
| LHX L3HARRIS Technologies Inc. | Add +26.2% | 0.70% | +0.22 |
| SMR Nuscale Power Corp. | Add +80.0% | 0.28% | +0.21 |
| AMRC Ameresco Inc. Class A | Add +27.2% | 0.53% | +0.21 |
| LULU Lululemon Athletica Inc. | New | 0.20% | +0.20 |
| COIN Coinbase Global Inc. Class A | New | 0.20% | +0.20 |
| PCOR Procore Technologies Inc. | Add +48.7% | 0.77% | +0.18 |
| LAZ Lazard Inc. | New | 0.16% | +0.16 |
| SCI Service Corp. International | Add +24.1% | 0.67% | +0.16 |
| A Agilent Technologies Inc. | Add +31.9% | 0.67% | +0.15 |
| LDOS Leidos Holdings Inc. | Add +5.3% | 0.60% | +0.13 |
| KRUS Kura Sushi USA Inc. Class A | Add +102.1% | 0.63% | +0.11 |
| GEV GE Vernova Inc. | Add +13.1% | 0.47% | +0.09 |
| HSY The Hershey Co. | Add +0.7% | 1.48% | +0.06 |
| DHI D.R. Horton Inc. | Add +28.6% | 0.33% | +0.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 82 | $1.8B | RACE, META, BJ, AMZN, INTC |
| Q1 2026 | 73 | $1.5B | RACE, AMZN, BJ, CAT, NVDA |
| Q4 2025 | 67 | $1.6B | META, RACE, AMAT, DHI, CAT |
| Q3 2025 | 62 | $1.8B | RACE, BA, AMZN, DHI, NVDA |
| Q2 2025 | 68 | $1.7B | NFLX, AMD, RACE, JOBY, UBER |
| Q1 2025 | 67 | $1.2B | TJX, RACE, NFLX, AMZN, COST |
| Q4 2024 | 97 | $1.8B | GS, MSFT, V, AMZN, RACE |
| Q3 2024 | 105 | $1.9B | GS, MSFT, V, RACE, AMZN |
| Q2 2024 | 98 | $1.9B | NVDA, MSFT, QCOM, GOOG, CCJ |
| Q1 2024 | 97 | $2.1B | MSFT, NVDA, QCOM, LLY, RACE |