Rheos Capital Works Inc. Holdings Report (13F Filings)

CIK: 0001735445

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$1.5B

Reporting period: 2026-03-31 · Number of holdings: 73

Rheos Capital Works Inc. disclosed 73 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.5B and a quarterly turnover rate of 63.4%.

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Personality snowflake

Concentration: 8.3
Portfolio Stability: 63.35
Momentum/Contrarian: 100
Sector conviction: 52.9
Diversification: 100
Sizing Uniformity: 92.78

Rheos Capital Works Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.021 — mathematically equivalent to about 48 equally-sized positions, close to its 73 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.72), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Trim META
-64.2%　-$97.2M
Add AMZN
+122.1%　$28.5M
Add NFLX
+400.0%　$29.0M
Trim AMAT
-58.3%　-$27.5M
Trim DHI
-36.6%　-$23.4M
Trim AVAV
-52.1%　-$21.6M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	RACE	Ferrari N.V.	Stock-Consumer Disc	5.20%	-0.25%	—
2	AMZN	Amazon.com INC	Stock-Consumer Disc	3.79%	+1.97%	+122.15%
3	BJ	Bj's Wholesale Club Holdings	Stock-Consumer Staples	3.61%	+3.61%	NEW
4	CAT	Caterpillar INC	Stock-Industrials	3.31%	—	-27.84%
5	NVDA	Nvidia CORP	Stock-Tech	3.27%	—	—
6	MSFT	Microsoft CORP	Stock-Tech	2.97%	—	+40.68%
7	META	Meta Platforms Inc-class A	Stock-Comm Services	2.92%	-6.11%	-64.17%
8	BIDU	Baidu INC - Spon Adr	Stock-Comm Services	2.62%	-0.33%	—
9	NFLX	Netflix INC	Stock-Comm Services	2.41%	+1.96%	+400.00%
10	DHI	Dr Horton INC	Stock-Consumer Disc	2.38%	-1.41%	-36.59%
11	AMD	Advanced Micro Devices	Stock-Tech	2.36%	+1.15%	+97.73%
12	EQT	Eqt CORP	Stock-Energy	2.34%	+2.34%	NEW
13	AMAT	Applied Materials INC	Stock-Tech	2.28%	-1.67%	-58.33%
14	AVGO	Broadcom INC	Stock-Tech	2.22%	—	—
15	UBER	Uber Technologies INC	Stock-Industrials	2.16%	—	—
16	TSLA	Tesla INC	Stock-Consumer Disc	2.11%	-0.34%	—
17	JOBY	Joby Aviation, Inc.	Stock-Industrials	2.02%	-0.98%	+3.38%
18	BA	Boeing Co/the	Stock-Industrials	1.99%	-0.95%	-29.04%
19	GOOG	Alphabet Inc-cl C	Stock-Comm Services	1.91%	-0.81%	-25.93%
20	ARM	Arm Holdings Plc-adr	Stock-Tech	1.91%	+0.65%	+5.57%
21	INTC	Intel CORP	Stock-Tech	1.80%	+1.21%	+144.00%
22	STX	Seagate Technology Holdings plc	Stock-Tech	1.77%	+0.53%	-3.57%
23	LMT	Lockheed Martin CORP	Stock-Industrials	1.74%	—	—
24	TMO	Thermo Fisher Scientific INC	Stock-Healthcare	1.67%	—	—
25	BAC	Bank Of America CORP	Stock-Financials	1.63%	+1.63%	NEW
26	YPF	Ypf S.a.-sponsored Adr	Stock-Other	1.54%	+1.54%	NEW
27	PFE	Pfizer INC	Stock-Healthcare	1.41%	+1.41%	NEW
28	BKR	Baker Hughes Co	Stock-Energy	1.39%	+0.54%	+17.24%
29	NET	Cloudflare INC - Class A	Stock-Tech	1.38%	+1.38%	NEW
30	OLLI	Ollie's Bargain Outlet Holdi	Stock-Consumer Staples	1.31%	—	—
31	DIS	Walt Disney Co/the	Stock-Comm Services	1.29%	—	—
32	PEP	Pepsico INC	Stock-Consumer Staples	1.24%	+1.24%	NEW
33	CNH	CNH Industrial N.V.	Stock-Industrials	1.19%	—	—
34	BABA	Alibaba Group Holding-sp Adr	Stock-Consumer Disc	1.13%	+0.57%	+125.00%
35	SHOP	Shopify INC - Class A	Stock-Tech	1.09%	—	—
36	HAL	Halliburton Co	Stock-Energy	1.04%	+1.04%	NEW
37	MELI	Mercadolibre INC	Stock-Consumer Disc	1.04%	—	—
38	ASML	ASML Holding N.V.	Stock-Tech	1.02%	+0.74%	+182.93%
39	AAPL	Apple INC	Stock-Tech	1.02%	-1.32%	-55.39%
40	XYL	Xylem INC	Stock-Industrials	0.96%	—	—
41	GS	Goldman Sachs Group INC	Stock-Financials	0.88%	—	—
42	WDC	Western Digital CORP	Stock-Tech	0.87%	-0.57%	-63.08%
43	HSY	Hershey Co/the	Stock-Consumer Staples	0.86%	-0.59%	-50.00%
44	BIRK	Birkenstock Holding plc	Stock-Other	0.84%	+0.84%	NEW
45	AVAV	Aerovironment INC	Stock-Industrials	0.82%	-1.35%	-52.14%
46	HOOD	Robinhood Markets INC - A	Stock-Financials	0.81%	-0.46%	—
47	SNOW	Snowflake INC	Stock-Tech	0.81%	-1.03%	-38.93%
48	CSCO	Cisco Systems INC	Stock-Tech	0.80%	—	—
49	HON	Honeywell International INC	Stock-Industrials	0.75%	+0.75%	NEW
50	AXP	American Express Co	Stock-Financials	0.74%	—	—

1–50 of 73

Portfolio Performance

Performance for Q3 2026

+3.6%

Performance Last 4 Quarters

+15%

Based on 81% of reported portfolio value with available pricing

Stdev: +19.9%
Beta: +1.39
Alpha: -7%
Max Drawdown: -14.9%
Annualized Perf: +18.1%
Batting Avg vs S&P: +55.6%
Sortino: +1.83
Stutzer: +0.28
Treynor: +0.13
Sterling: +0.83
Calmar: +1.21
Information Ratio: +0.02
Tracking Error: +9.6%
Stdev Down: +10.2%
Winning Months %: +61.1%
Losing Months %: +38.9%
Best 12 Months: +40.3%
Worst 12 Months: +3.5%
Efficiency Ratio: +0.38
Sharpe: +0.94
Stdev Sectors: +8.5%
Skewness: +0.28
Kurtosis: -0.65
Upside Potential: +3.74

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	73	$1.5B	63	1RACE 2AMZN 3BJ Top holdings2026-03-31 1.RACE 2.AMZN 3.BJ 4.CAT 5.NVDA 6.MSFT 7.META 8.BIDU 9.NFLX 10.DHI
2025-12-31	67	$1.6B	68	1META 2RACE 3AMAT Top holdings2025-12-31 1.META 2.RACE 3.AMAT 4.DHI 5.CAT 6.NVDA 7.JOBY 8.BIDU 9.BA 10.GOOG
2025-09-30	62	$1.8B	94	1RACE 2BA 3AMZN Top holdings2025-09-30 1.RACE 2.BA 3.AMZN 4.DHI 5.NVDA 6.APP 7.MSFT 8.TJX 9.SNOW 10.UBER
2025-06-30	68	$1.7B	0	1NFLX 2AMD 3RACE Top holdings2025-06-30 1.NFLX 2.AMD 3.RACE 4.JOBY 5.UBER 6.AMZN 7.DIS 8.AVGO 9.MSFT 10.COST
2025-03-31	67	$1.2B	100	1TJX 2RACE 3NFLX Top holdings2025-03-31 1.TJX 2.RACE 3.NFLX 4.AMZN 5.COST 6.UBER 7.DIS 8.META 9.MSFT 10.BABA
2024-12-31	97	$1.8B	0	1GS 2MSFT 3V Top holdings2024-12-31 1.GS 2.MSFT 3.V 4.AMZN 5.RACE 6.NVDA 7.C 8.NFLX 9.MSI 10.EMR
2024-09-30	105	$1.9B	0	1GS 2MSFT 3V Top holdings2024-09-30 1.GS 2.MSFT 3.V 4.RACE 5.AMZN 6.QCOM 7.CCJ 8.NVDA 9.EMR 10.MSI
2024-06-30	98	$1.9B	0	1NVDA 2MSFT 3QCOM Top holdings2024-06-30 1.NVDA 2.MSFT 3.QCOM 4.GOOG 5.CCJ 6.AMZN 7.LLY 8.CROX 9.ARM 10.V
2024-03-31	97	$2.1B	0	1MSFT 2NVDA 3QCOM Top holdings2024-03-31 1.MSFT 2.NVDA 3.QCOM 4.LLY 5.RACE 6.AMZN 7.CCJ 8.CEG 9.V 10.VRT
2023-12-31	90	$1.8B	0	1MSFT 2NVDA 3QCOM Top holdings2023-12-31 1.MSFT 2.NVDA 3.QCOM 4.RACE 5.CCJ 6.LLY 7.AMZN 8.PANW 9.TTWO 10.CBOE
2023-09-30	121	$1.7B	0	1MSFT 2RACE 3CTVA Top holdings2023-09-30 1.MSFT 2.RACE 3.CTVA 4.CAT 5.NEE 6.INTU 7.PANW 8.AMZN 9.INTC 10.ORCL
2023-06-30	96	$1.9B	0	1MSFT 2RACE 3PANW Top holdings2023-06-30 1.MSFT 2.RACE 3.PANW 4.ORCL 5.AMZN 6.NEE 7.CTVA 8.INTU 9.ACN 10.MSI
2023-03-31	106	$1.8B	0	1MSFT 2MSI 3NEE Top holdings2023-03-31 1.MSFT 2.MSI 3.NEE 4.CTVA 5.RACE 6.TTEK 7.PANW 8.INTU 9.ORCL 10.ACN
2022-12-31	133	$1.7B	0	1MSFT 2NEE 3CTVA Top holdings2022-12-31 1.MSFT 2.NEE 3.CTVA 4.TTEK 5.DE 6.TJX 7.CAT 8.RACE 9.WDAY 10.HSY
2022-09-30	145	$1.5B	0	1MSFT 2DE 3NEE Top holdings2022-09-30 1.MSFT 2.DE 3.NEE 4.EOG 5.TTEK 6.TXN 7.CDNS 8.WDAY 9.HSY 10.BJ
2022-06-30	136	$1.3B	0	1MSFT 2DE 3EOG Top holdings2022-06-30 1.MSFT 2.DE 3.EOG 4.ACN 5.TSN 6.HSY 7.TTEK 8.GOOG 9.BJ 10.ORCL
2022-03-31	137	$2.1B	0	1MSFT 2EOG 3ACN Top holdings2022-03-31 1.MSFT 2.EOG 3.ACN 4.CRM 5.DIS 6.QCOM 7.GOOG 8.TSLA 9.WPM 10.PXDEUR
2021-12-31	138	$2.3B	0	1MSFT 2CRM 3ACN Top holdings2021-12-31 1.MSFT 2.CRM 3.ACN 4.QCOM 5.EOG 6.AMT 7.TSLA 8.GOOG 9.V 10.VEEV
2021-09-30	109	$1.9B	0	1MSFT 2ACN 3AMT Top holdings2021-09-30 1.MSFT 2.ACN 3.AMT 4.CRM 5.FIVE 6.QCOM 7.VEEV 8.V 9.COIN 10.TSN
2021-06-30	100	$2.0B	100	1MSFT 2ACN 3BILI Top holdings2021-06-30 1.MSFT 2.ACN 3.BILI 4.AMT 5.CRM 6.VEEV 7.QCOM 8.FIVE 9.ZM 10.DIS
2021-03-31	85	$1.5B	26	1MSFT 2ACN 3BILI Top holdings2021-03-31 1.MSFT 2.ACN 3.BILI 4.AMT 5.NFLX 6.QCOM 7.FIVE 8.VEEV 9.CRM 10.V
2020-12-31	78	$1.4B	34	1BILI 2ACN 3MSFT Top holdings2020-12-31 1.BILI 2.ACN 3.MSFT 4.QCOM 5.NFLX 6.AMT 7.OLLI 8.VEEV 9.CRM 10.EDU
2020-09-30	71	$1.2B	33	1EDU 2BILI 3AMT Top holdings2020-09-30 1.EDU 2.BILI 3.AMT 4.MSFT 5.ZM 6.DPZ 7.ACN 8.CRM 9.OLLI 10.NFLX
2020-06-30	67	$1.4B	45	1MSFT 2DPZ 3ACN Top holdings2020-06-30 1.MSFT 2.DPZ 3.ACN 4.VEEV 5.OLLI 6.NFLX 7.BILI 8.AMT 9.ZM 10.EDU
2020-03-31	61	$942.9M	100	1DPZ 2ACN 3ZM Top holdings2020-03-31 1.DPZ 2.ACN 3.ZM 4.NFLX 5.VEEV 6.AMT 7.EDU 8.OLLI 9.MSFT 10.CRM
2019-12-31	52	$970.5M	70	1V 2QCOM 3GOOG Top holdings2019-12-31 1.V 2.QCOM 3.GOOG 4.MSFT 5.OLLI 6.INTU 7.EDU 8.AMZN 9.TTWO 10.SKAA
2019-09-30	14	$879.4M	35	1INTU 2V 3META Top holdings2019-09-30 1.INTU 2.V 3.META 4.GOOG 5.MSFT 6.OLLI 7.CRM 8.EDU 9.FRCB 10.AMZN
2019-06-30	12	$746.9M	24	1INTU 2V 3OLLI Top holdings2019-06-30 1.INTU 2.V 3.OLLI 4.MSFT 5.AMZN 6.NFLX 7.CRM 8.FRCB 9.EDU 10.SKAA
2019-03-31	14	$822.2M	39	1OLLI 2INTU 3V Top holdings2019-03-31 1.OLLI 2.INTU 3.V 4.MSFT 5.AMZN 6.NFLX 7.CRM 8.TCEHY 9.BABA 10.FRCB
2018-12-31	13	$669.0M	52	1MSFT 2AMZN 3V Top holdings2018-12-31 1.MSFT 2.AMZN 3.V 4.INTU 5.CRM 6.TCEHY 7.NFLX 8.FRCB 9.BABA 10.EDU
2018-09-30	12	$695.3M	20	1AMZN 2MSFT 3V Top holdings2018-09-30 1.AMZN 2.MSFT 3.V 4.META 5.NFLX 6.CRM 7.TCEHY 8.BABA 9.EDU 10.TTWO
2018-06-30	8	$706.8M	19	1AMZN 2V 3MSFT Top holdings2018-06-30 1.AMZN 2.V 3.MSFT 4.META 5.NFLX 6.TCEHY 7.BABA 8.CRM
2018-03-31	8	$583.4M	100	1AMZN 2V 3MSFT Top holdings2018-03-31 1.AMZN 2.V 3.MSFT 4.META 5.NFLX 6.CRM 7.TCEHY 8.BABA
2017-12-31	2	$131.4M	—	1MSFT 2AMZN Top holdings2017-12-31 1.MSFT 2.AMZN

Holding changes this quarter

Rheos Capital Works Inc.'s most significant position changes for 2026-03-31: New buy: Bj's Wholesale Club Holdings (BJ); New buy: Eqt CORP (EQT); New buy: Bank Of America CORP (BAC); Sold out: Nutanix INC - A (NTNX); New buy: Ypf S.a.-sponsored Adr (YPF).

Position changes disclosed by Rheos Capital Works Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AMZN	Amazon.com INC	+2%	+122.15%	Add
2	NFLX	Netflix INC	+2%	+400.00%	Add
3	INTC	Intel CORP	+1.2%	+144.00%	Add
4	AMD	Advanced Micro Devices	+1.2%	+97.73%	Add
5	ASML	ASML Holding N.V.	+0.7%	+182.93%	Add
6	ARM	Arm Holdings Plc-adr	+0.7%	+5.57%	Add
7	BABA	Alibaba Group Holding-sp Adr	+0.6%	+125.00%	Add
8	BKR	Baker Hughes Co	+0.5%	+17.24%	Add
9	STX	Seagate Technology Holdings plc	+0.5%	-3.57%	Trim
10	RACE	Ferrari N.V.	-0.3%	—	Unchanged
11	BIDU	Baidu INC - Spon Adr	-0.3%	—	Unchanged
12	TSLA	Tesla INC	-0.3%	—	Unchanged
13	LRCXEUR	Lam Research CORP	-0.4%	-52.26%	Trim
14	HOOD	Robinhood Markets INC - A	-0.5%	—	Unchanged
15	MDGL	Madrigal Pharmaceuticals INC	-0.5%	-49.59%	Trim
16	WDC	Western Digital CORP	-0.6%	-63.08%	Trim
17	HSY	Hershey Co/the	-0.6%	-50.00%	Trim
18	GOOG	Alphabet Inc-cl C	-0.8%	-25.93%	Trim
19	BA	Boeing Co/the	-1%	-29.04%	Trim
20	JOBY	Joby Aviation, Inc.	-1%	+3.38%	Add
21	SNOW	Snowflake INC	-1%	-38.93%	Trim
22	AAPL	Apple INC	-1.3%	-55.39%	Trim
23	AVAV	Aerovironment INC	-1.4%	-52.14%	Trim
24	DHI	Dr Horton INC	-1.4%	-36.59%	Trim
25	AMAT	Applied Materials INC	-1.7%	-58.33%	Trim
26	META	Meta Platforms Inc-class A	-6.1%	-64.17%	Trim
27	BJ	Bj's Wholesale Club Holdings	—	NEW	New buy
28	EQT	Eqt CORP	—	NEW	New buy
29	BAC	Bank Of America CORP	—	NEW	New buy
30	NTNX	Nutanix INC - A	—	EXIT	Sold out
31	YPF	Ypf S.a.-sponsored Adr	—	NEW	New buy
32	PFE	Pfizer INC	—	NEW	New buy
33	NET	Cloudflare INC - Class A	—	NEW	New buy
34	✓		—	EXIT	Sold out
35	PEP	Pepsico INC	—	NEW	New buy
36	ZS	Zscaler INC	—	EXIT	Sold out
37	HAL	Halliburton Co	—	NEW	New buy
38	BIRK	Birkenstock Holding plc	—	NEW	New buy
39	HON	Honeywell International INC	—	NEW	New buy
40	✓		—	EXIT	Sold out
41	PG	Procter & Gamble Co/the	—	NEW	New buy
42	JPM	Jpmorgan Chase & Co	—	NEW	New buy
43	MDB	Mongodb INC	—	NEW	New buy
44	✓		—	EXIT	Sold out
45	ORCL	Oracle CORP	—	EXIT	Sold out
46	✓	Centrus Energy Corp.	—	EXIT	Sold out
47	MSI	Motorola Solutions INC	—	NEW	New buy
48	LEU	Centrus Energy Corp-class A	—	NEW	New buy
49	SOLS	Solstice Adv Materials INC	—	NEW	New buy
50	CRNC	Cerence INC	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-08	13F-HR	View on EDGAR
2025-12-31	2026-01-21	13F-HR	View on EDGAR
2025-09-30	2025-10-22	13F-HR	View on EDGAR
2025-06-30	2025-07-28	13F-HR	View on EDGAR
2025-03-31	2025-04-14	13F-HR	View on EDGAR
2024-12-31	2025-01-24	13F-HR	View on EDGAR
2024-09-30	2024-10-16	13F-HR	View on EDGAR
2024-06-30	2024-07-24	13F-HR	View on EDGAR
2024-03-31	2024-04-11	13F-HR	View on EDGAR
2023-12-31	2024-01-16	13F-HR	View on EDGAR
2023-09-30	2023-10-17	13F-HR	View on EDGAR
2023-06-30	2023-08-02	13F-HR	View on EDGAR
2023-03-31	2023-05-03	13F-HR	View on EDGAR
2022-12-31	2023-02-02	13F-HR	View on EDGAR
2022-09-30	2022-11-09	13F-HR	View on EDGAR
2022-06-30	2022-07-29	13F-HR	View on EDGAR
2022-03-31	2022-05-02	13F-HR	View on EDGAR
2021-12-31	2022-01-21	13F-HR	View on EDGAR
2021-09-30	2021-10-21	13F-HR	View on EDGAR
2021-06-30	2021-07-26	13F-HR	View on EDGAR
2021-03-31	2021-04-26	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-10-13	13F-HR	View on EDGAR
2020-06-30	2020-08-07	13F-HR	View on EDGAR
2020-03-31	2020-04-20	13F-HR	View on EDGAR
2019-12-31	2020-02-03	13F-HR	View on EDGAR
2019-09-30	2019-10-04	13F-HR	View on EDGAR
2019-06-30	2019-07-23	13F-HR	View on EDGAR
2019-03-31	2019-05-06	13F-HR	View on EDGAR
2018-12-31	2019-02-12	13F-HR	View on EDGAR
2018-09-30	2018-11-13	13F-HR	View on EDGAR
2018-06-30	2018-07-19	13F-HR	View on EDGAR
2018-03-31	2018-07-19	Amendment	View on EDGAR
2018-03-31	2018-04-20	13F-HR	View on EDGAR
2017-12-31	2018-04-20	13F-HR	View on EDGAR

FAQ

What is Rheos Capital Works Inc. and what type of investor is it?

Rheos Capital Works Inc. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $1.5B, spread across 73 disclosed positions.

What are Rheos Capital Works Inc.'s largest equity positions?

Based on the latest 13F filing, Rheos Capital Works Inc.'s top holdings by market value are: 1. Ferrari N.V. (RACE) — $77.9M (5.2%) 2. Amazon.com INC (AMZN) — $56.8M (3.8%) 3. Bj's Wholesale Club Holdings (BJ) — $54.1M (3.6%) 4. Caterpillar INC (CAT) — $49.6M (3.3%) 5. Nvidia CORP (NVDA) — $49.1M (3.3%)

What changes did Rheos Capital Works Inc. make in its most recent portfolio filing?

In the latest reported quarter, Rheos Capital Works Inc. made 46 notable position adjustments: 16 new positions were initiated, 9 existing holdings were added to, 13 positions were partially reduced, and 8 were completely exited. The largest of these moves: New buy: Bj's Wholesale Club Holdings (BJ); New buy: Eqt CORP (EQT); New buy: Bank Of America CORP (BAC); Sold out: Nutanix INC - A (NTNX); New buy: Ypf S.a.-sponsored Adr (YPF)

What sectors does Rheos Capital Works Inc. focus on?

Rheos Capital Works Inc. is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 30.5% • Industrials: 16.6% • Consumer Discretionary: 16.4% • Communication Services: 11.5% • Consumer Staples: 8.6% • Financials: 5.4%

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Rheos Capital Works Inc. Holdings Report (13F Filings)

CIK: 0001735445

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$1.5B

Reporting period: 2026-03-31 · Number of holdings: 73

Rheos Capital Works Inc. disclosed 73 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.5B and a quarterly turnover rate of 63.4%.

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Personality snowflake

Concentration: 8.3
Portfolio Stability: 63.35
Momentum/Contrarian: 100
Sector conviction: 52.9
Diversification: 100
Sizing Uniformity: 92.78

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.72), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Trim META
-64.2%　-$97.2M
Add AMZN
+122.1%　$28.5M
Add NFLX
+400.0%　$29.0M
Trim AMAT
-58.3%　-$27.5M
Trim DHI
-36.6%　-$23.4M
Trim AVAV
-52.1%　-$21.6M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	RACE	Ferrari N.V.	Stock-Consumer Disc	5.20%	-0.25%	—
2	AMZN	Amazon.com INC	Stock-Consumer Disc	3.79%	+1.97%	+122.15%
3	BJ	Bj's Wholesale Club Holdings	Stock-Consumer Staples	3.61%	+3.61%	NEW
4	CAT	Caterpillar INC	Stock-Industrials	3.31%	—	-27.84%
5	NVDA	Nvidia CORP	Stock-Tech	3.27%	—	—
6	MSFT	Microsoft CORP	Stock-Tech	2.97%	—	+40.68%
7	META	Meta Platforms Inc-class A	Stock-Comm Services	2.92%	-6.11%	-64.17%
8	BIDU	Baidu INC - Spon Adr	Stock-Comm Services	2.62%	-0.33%	—
9	NFLX	Netflix INC	Stock-Comm Services	2.41%	+1.96%	+400.00%
10	DHI	Dr Horton INC	Stock-Consumer Disc	2.38%	-1.41%	-36.59%
11	AMD	Advanced Micro Devices	Stock-Tech	2.36%	+1.15%	+97.73%
12	EQT	Eqt CORP	Stock-Energy	2.34%	+2.34%	NEW
13	AMAT	Applied Materials INC	Stock-Tech	2.28%	-1.67%	-58.33%
14	AVGO	Broadcom INC	Stock-Tech	2.22%	—	—
15	UBER	Uber Technologies INC	Stock-Industrials	2.16%	—	—
16	TSLA	Tesla INC	Stock-Consumer Disc	2.11%	-0.34%	—
17	JOBY	Joby Aviation, Inc.	Stock-Industrials	2.02%	-0.98%	+3.38%
18	BA	Boeing Co/the	Stock-Industrials	1.99%	-0.95%	-29.04%
19	GOOG	Alphabet Inc-cl C	Stock-Comm Services	1.91%	-0.81%	-25.93%
20	ARM	Arm Holdings Plc-adr	Stock-Tech	1.91%	+0.65%	+5.57%
21	INTC	Intel CORP	Stock-Tech	1.80%	+1.21%	+144.00%
22	STX	Seagate Technology Holdings plc	Stock-Tech	1.77%	+0.53%	-3.57%
23	LMT	Lockheed Martin CORP	Stock-Industrials	1.74%	—	—
24	TMO	Thermo Fisher Scientific INC	Stock-Healthcare	1.67%	—	—
25	BAC	Bank Of America CORP	Stock-Financials	1.63%	+1.63%	NEW
26	YPF	Ypf S.a.-sponsored Adr	Stock-Other	1.54%	+1.54%	NEW
27	PFE	Pfizer INC	Stock-Healthcare	1.41%	+1.41%	NEW
28	BKR	Baker Hughes Co	Stock-Energy	1.39%	+0.54%	+17.24%
29	NET	Cloudflare INC - Class A	Stock-Tech	1.38%	+1.38%	NEW
30	OLLI	Ollie's Bargain Outlet Holdi	Stock-Consumer Staples	1.31%	—	—
31	DIS	Walt Disney Co/the	Stock-Comm Services	1.29%	—	—
32	PEP	Pepsico INC	Stock-Consumer Staples	1.24%	+1.24%	NEW
33	CNH	CNH Industrial N.V.	Stock-Industrials	1.19%	—	—
34	BABA	Alibaba Group Holding-sp Adr	Stock-Consumer Disc	1.13%	+0.57%	+125.00%
35	SHOP	Shopify INC - Class A	Stock-Tech	1.09%	—	—
36	HAL	Halliburton Co	Stock-Energy	1.04%	+1.04%	NEW
37	MELI	Mercadolibre INC	Stock-Consumer Disc	1.04%	—	—
38	ASML	ASML Holding N.V.	Stock-Tech	1.02%	+0.74%	+182.93%
39	AAPL	Apple INC	Stock-Tech	1.02%	-1.32%	-55.39%
40	XYL	Xylem INC	Stock-Industrials	0.96%	—	—
41	GS	Goldman Sachs Group INC	Stock-Financials	0.88%	—	—
42	WDC	Western Digital CORP	Stock-Tech	0.87%	-0.57%	-63.08%
43	HSY	Hershey Co/the	Stock-Consumer Staples	0.86%	-0.59%	-50.00%
44	BIRK	Birkenstock Holding plc	Stock-Other	0.84%	+0.84%	NEW
45	AVAV	Aerovironment INC	Stock-Industrials	0.82%	-1.35%	-52.14%
46	HOOD	Robinhood Markets INC - A	Stock-Financials	0.81%	-0.46%	—
47	SNOW	Snowflake INC	Stock-Tech	0.81%	-1.03%	-38.93%
48	CSCO	Cisco Systems INC	Stock-Tech	0.80%	—	—
49	HON	Honeywell International INC	Stock-Industrials	0.75%	+0.75%	NEW
50	AXP	American Express Co	Stock-Financials	0.74%	—	—

1–50 of 73

Portfolio Performance

Performance for Q3 2026

+3.6%

Performance Last 4 Quarters

+15%

Based on 81% of reported portfolio value with available pricing

Stdev: +19.9%
Beta: +1.39
Alpha: -7%
Max Drawdown: -14.9%
Annualized Perf: +18.1%
Batting Avg vs S&P: +55.6%
Sortino: +1.83
Stutzer: +0.28
Treynor: +0.13
Sterling: +0.83
Calmar: +1.21
Information Ratio: +0.02
Tracking Error: +9.6%
Stdev Down: +10.2%
Winning Months %: +61.1%
Losing Months %: +38.9%
Best 12 Months: +40.3%
Worst 12 Months: +3.5%
Efficiency Ratio: +0.38
Sharpe: +0.94
Stdev Sectors: +8.5%
Skewness: +0.28
Kurtosis: -0.65
Upside Potential: +3.74

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	73	$1.5B	63	1RACE 2AMZN 3BJ Top holdings2026-03-31 1.RACE 2.AMZN 3.BJ 4.CAT 5.NVDA 6.MSFT 7.META 8.BIDU 9.NFLX 10.DHI
2025-12-31	67	$1.6B	68	1META 2RACE 3AMAT Top holdings2025-12-31 1.META 2.RACE 3.AMAT 4.DHI 5.CAT 6.NVDA 7.JOBY 8.BIDU 9.BA 10.GOOG
2025-09-30	62	$1.8B	94	1RACE 2BA 3AMZN Top holdings2025-09-30 1.RACE 2.BA 3.AMZN 4.DHI 5.NVDA 6.APP 7.MSFT 8.TJX 9.SNOW 10.UBER
2025-06-30	68	$1.7B	0	1NFLX 2AMD 3RACE Top holdings2025-06-30 1.NFLX 2.AMD 3.RACE 4.JOBY 5.UBER 6.AMZN 7.DIS 8.AVGO 9.MSFT 10.COST
2025-03-31	67	$1.2B	100	1TJX 2RACE 3NFLX Top holdings2025-03-31 1.TJX 2.RACE 3.NFLX 4.AMZN 5.COST 6.UBER 7.DIS 8.META 9.MSFT 10.BABA
2024-12-31	97	$1.8B	0	1GS 2MSFT 3V Top holdings2024-12-31 1.GS 2.MSFT 3.V 4.AMZN 5.RACE 6.NVDA 7.C 8.NFLX 9.MSI 10.EMR
2024-09-30	105	$1.9B	0	1GS 2MSFT 3V Top holdings2024-09-30 1.GS 2.MSFT 3.V 4.RACE 5.AMZN 6.QCOM 7.CCJ 8.NVDA 9.EMR 10.MSI
2024-06-30	98	$1.9B	0	1NVDA 2MSFT 3QCOM Top holdings2024-06-30 1.NVDA 2.MSFT 3.QCOM 4.GOOG 5.CCJ 6.AMZN 7.LLY 8.CROX 9.ARM 10.V
2024-03-31	97	$2.1B	0	1MSFT 2NVDA 3QCOM Top holdings2024-03-31 1.MSFT 2.NVDA 3.QCOM 4.LLY 5.RACE 6.AMZN 7.CCJ 8.CEG 9.V 10.VRT
2023-12-31	90	$1.8B	0	1MSFT 2NVDA 3QCOM Top holdings2023-12-31 1.MSFT 2.NVDA 3.QCOM 4.RACE 5.CCJ 6.LLY 7.AMZN 8.PANW 9.TTWO 10.CBOE
2023-09-30	121	$1.7B	0	1MSFT 2RACE 3CTVA Top holdings2023-09-30 1.MSFT 2.RACE 3.CTVA 4.CAT 5.NEE 6.INTU 7.PANW 8.AMZN 9.INTC 10.ORCL
2023-06-30	96	$1.9B	0	1MSFT 2RACE 3PANW Top holdings2023-06-30 1.MSFT 2.RACE 3.PANW 4.ORCL 5.AMZN 6.NEE 7.CTVA 8.INTU 9.ACN 10.MSI
2023-03-31	106	$1.8B	0	1MSFT 2MSI 3NEE Top holdings2023-03-31 1.MSFT 2.MSI 3.NEE 4.CTVA 5.RACE 6.TTEK 7.PANW 8.INTU 9.ORCL 10.ACN
2022-12-31	133	$1.7B	0	1MSFT 2NEE 3CTVA Top holdings2022-12-31 1.MSFT 2.NEE 3.CTVA 4.TTEK 5.DE 6.TJX 7.CAT 8.RACE 9.WDAY 10.HSY
2022-09-30	145	$1.5B	0	1MSFT 2DE 3NEE Top holdings2022-09-30 1.MSFT 2.DE 3.NEE 4.EOG 5.TTEK 6.TXN 7.CDNS 8.WDAY 9.HSY 10.BJ
2022-06-30	136	$1.3B	0	1MSFT 2DE 3EOG Top holdings2022-06-30 1.MSFT 2.DE 3.EOG 4.ACN 5.TSN 6.HSY 7.TTEK 8.GOOG 9.BJ 10.ORCL
2022-03-31	137	$2.1B	0	1MSFT 2EOG 3ACN Top holdings2022-03-31 1.MSFT 2.EOG 3.ACN 4.CRM 5.DIS 6.QCOM 7.GOOG 8.TSLA 9.WPM 10.PXDEUR
2021-12-31	138	$2.3B	0	1MSFT 2CRM 3ACN Top holdings2021-12-31 1.MSFT 2.CRM 3.ACN 4.QCOM 5.EOG 6.AMT 7.TSLA 8.GOOG 9.V 10.VEEV
2021-09-30	109	$1.9B	0	1MSFT 2ACN 3AMT Top holdings2021-09-30 1.MSFT 2.ACN 3.AMT 4.CRM 5.FIVE 6.QCOM 7.VEEV 8.V 9.COIN 10.TSN
2021-06-30	100	$2.0B	100	1MSFT 2ACN 3BILI Top holdings2021-06-30 1.MSFT 2.ACN 3.BILI 4.AMT 5.CRM 6.VEEV 7.QCOM 8.FIVE 9.ZM 10.DIS
2021-03-31	85	$1.5B	26	1MSFT 2ACN 3BILI Top holdings2021-03-31 1.MSFT 2.ACN 3.BILI 4.AMT 5.NFLX 6.QCOM 7.FIVE 8.VEEV 9.CRM 10.V
2020-12-31	78	$1.4B	34	1BILI 2ACN 3MSFT Top holdings2020-12-31 1.BILI 2.ACN 3.MSFT 4.QCOM 5.NFLX 6.AMT 7.OLLI 8.VEEV 9.CRM 10.EDU
2020-09-30	71	$1.2B	33	1EDU 2BILI 3AMT Top holdings2020-09-30 1.EDU 2.BILI 3.AMT 4.MSFT 5.ZM 6.DPZ 7.ACN 8.CRM 9.OLLI 10.NFLX
2020-06-30	67	$1.4B	45	1MSFT 2DPZ 3ACN Top holdings2020-06-30 1.MSFT 2.DPZ 3.ACN 4.VEEV 5.OLLI 6.NFLX 7.BILI 8.AMT 9.ZM 10.EDU
2020-03-31	61	$942.9M	100	1DPZ 2ACN 3ZM Top holdings2020-03-31 1.DPZ 2.ACN 3.ZM 4.NFLX 5.VEEV 6.AMT 7.EDU 8.OLLI 9.MSFT 10.CRM
2019-12-31	52	$970.5M	70	1V 2QCOM 3GOOG Top holdings2019-12-31 1.V 2.QCOM 3.GOOG 4.MSFT 5.OLLI 6.INTU 7.EDU 8.AMZN 9.TTWO 10.SKAA
2019-09-30	14	$879.4M	35	1INTU 2V 3META Top holdings2019-09-30 1.INTU 2.V 3.META 4.GOOG 5.MSFT 6.OLLI 7.CRM 8.EDU 9.FRCB 10.AMZN
2019-06-30	12	$746.9M	24	1INTU 2V 3OLLI Top holdings2019-06-30 1.INTU 2.V 3.OLLI 4.MSFT 5.AMZN 6.NFLX 7.CRM 8.FRCB 9.EDU 10.SKAA
2019-03-31	14	$822.2M	39	1OLLI 2INTU 3V Top holdings2019-03-31 1.OLLI 2.INTU 3.V 4.MSFT 5.AMZN 6.NFLX 7.CRM 8.TCEHY 9.BABA 10.FRCB
2018-12-31	13	$669.0M	52	1MSFT 2AMZN 3V Top holdings2018-12-31 1.MSFT 2.AMZN 3.V 4.INTU 5.CRM 6.TCEHY 7.NFLX 8.FRCB 9.BABA 10.EDU
2018-09-30	12	$695.3M	20	1AMZN 2MSFT 3V Top holdings2018-09-30 1.AMZN 2.MSFT 3.V 4.META 5.NFLX 6.CRM 7.TCEHY 8.BABA 9.EDU 10.TTWO
2018-06-30	8	$706.8M	19	1AMZN 2V 3MSFT Top holdings2018-06-30 1.AMZN 2.V 3.MSFT 4.META 5.NFLX 6.TCEHY 7.BABA 8.CRM
2018-03-31	8	$583.4M	100	1AMZN 2V 3MSFT Top holdings2018-03-31 1.AMZN 2.V 3.MSFT 4.META 5.NFLX 6.CRM 7.TCEHY 8.BABA
2017-12-31	2	$131.4M	—	1MSFT 2AMZN Top holdings2017-12-31 1.MSFT 2.AMZN

Holding changes this quarter

Position changes disclosed by Rheos Capital Works Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AMZN	Amazon.com INC	+2%	+122.15%	Add
2	NFLX	Netflix INC	+2%	+400.00%	Add
3	INTC	Intel CORP	+1.2%	+144.00%	Add
4	AMD	Advanced Micro Devices	+1.2%	+97.73%	Add
5	ASML	ASML Holding N.V.	+0.7%	+182.93%	Add
6	ARM	Arm Holdings Plc-adr	+0.7%	+5.57%	Add
7	BABA	Alibaba Group Holding-sp Adr	+0.6%	+125.00%	Add
8	BKR	Baker Hughes Co	+0.5%	+17.24%	Add
9	STX	Seagate Technology Holdings plc	+0.5%	-3.57%	Trim
10	RACE	Ferrari N.V.	-0.3%	—	Unchanged
11	BIDU	Baidu INC - Spon Adr	-0.3%	—	Unchanged
12	TSLA	Tesla INC	-0.3%	—	Unchanged
13	LRCXEUR	Lam Research CORP	-0.4%	-52.26%	Trim
14	HOOD	Robinhood Markets INC - A	-0.5%	—	Unchanged
15	MDGL	Madrigal Pharmaceuticals INC	-0.5%	-49.59%	Trim
16	WDC	Western Digital CORP	-0.6%	-63.08%	Trim
17	HSY	Hershey Co/the	-0.6%	-50.00%	Trim
18	GOOG	Alphabet Inc-cl C	-0.8%	-25.93%	Trim
19	BA	Boeing Co/the	-1%	-29.04%	Trim
20	JOBY	Joby Aviation, Inc.	-1%	+3.38%	Add
21	SNOW	Snowflake INC	-1%	-38.93%	Trim
22	AAPL	Apple INC	-1.3%	-55.39%	Trim
23	AVAV	Aerovironment INC	-1.4%	-52.14%	Trim
24	DHI	Dr Horton INC	-1.4%	-36.59%	Trim
25	AMAT	Applied Materials INC	-1.7%	-58.33%	Trim
26	META	Meta Platforms Inc-class A	-6.1%	-64.17%	Trim
27	BJ	Bj's Wholesale Club Holdings	—	NEW	New buy
28	EQT	Eqt CORP	—	NEW	New buy
29	BAC	Bank Of America CORP	—	NEW	New buy
30	NTNX	Nutanix INC - A	—	EXIT	Sold out
31	YPF	Ypf S.a.-sponsored Adr	—	NEW	New buy
32	PFE	Pfizer INC	—	NEW	New buy
33	NET	Cloudflare INC - Class A	—	NEW	New buy
34	✓		—	EXIT	Sold out
35	PEP	Pepsico INC	—	NEW	New buy
36	ZS	Zscaler INC	—	EXIT	Sold out
37	HAL	Halliburton Co	—	NEW	New buy
38	BIRK	Birkenstock Holding plc	—	NEW	New buy
39	HON	Honeywell International INC	—	NEW	New buy
40	✓		—	EXIT	Sold out
41	PG	Procter & Gamble Co/the	—	NEW	New buy
42	JPM	Jpmorgan Chase & Co	—	NEW	New buy
43	MDB	Mongodb INC	—	NEW	New buy
44	✓		—	EXIT	Sold out
45	ORCL	Oracle CORP	—	EXIT	Sold out
46	✓	Centrus Energy Corp.	—	EXIT	Sold out
47	MSI	Motorola Solutions INC	—	NEW	New buy
48	LEU	Centrus Energy Corp-class A	—	NEW	New buy
49	SOLS	Solstice Adv Materials INC	—	NEW	New buy
50	CRNC	Cerence INC	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-08	13F-HR	View on EDGAR
2025-12-31	2026-01-21	13F-HR	View on EDGAR
2025-09-30	2025-10-22	13F-HR	View on EDGAR
2025-06-30	2025-07-28	13F-HR	View on EDGAR
2025-03-31	2025-04-14	13F-HR	View on EDGAR
2024-12-31	2025-01-24	13F-HR	View on EDGAR
2024-09-30	2024-10-16	13F-HR	View on EDGAR
2024-06-30	2024-07-24	13F-HR	View on EDGAR
2024-03-31	2024-04-11	13F-HR	View on EDGAR
2023-12-31	2024-01-16	13F-HR	View on EDGAR
2023-09-30	2023-10-17	13F-HR	View on EDGAR
2023-06-30	2023-08-02	13F-HR	View on EDGAR
2023-03-31	2023-05-03	13F-HR	View on EDGAR
2022-12-31	2023-02-02	13F-HR	View on EDGAR
2022-09-30	2022-11-09	13F-HR	View on EDGAR
2022-06-30	2022-07-29	13F-HR	View on EDGAR
2022-03-31	2022-05-02	13F-HR	View on EDGAR
2021-12-31	2022-01-21	13F-HR	View on EDGAR
2021-09-30	2021-10-21	13F-HR	View on EDGAR
2021-06-30	2021-07-26	13F-HR	View on EDGAR
2021-03-31	2021-04-26	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-10-13	13F-HR	View on EDGAR
2020-06-30	2020-08-07	13F-HR	View on EDGAR
2020-03-31	2020-04-20	13F-HR	View on EDGAR
2019-12-31	2020-02-03	13F-HR	View on EDGAR
2019-09-30	2019-10-04	13F-HR	View on EDGAR
2019-06-30	2019-07-23	13F-HR	View on EDGAR
2019-03-31	2019-05-06	13F-HR	View on EDGAR
2018-12-31	2019-02-12	13F-HR	View on EDGAR
2018-09-30	2018-11-13	13F-HR	View on EDGAR
2018-06-30	2018-07-19	13F-HR	View on EDGAR
2018-03-31	2018-07-19	Amendment	View on EDGAR
2018-03-31	2018-04-20	13F-HR	View on EDGAR
2017-12-31	2018-04-20	13F-HR	View on EDGAR