Rakuten Investment Management, Inc.

CIK

2062680

Location

TOKYO, M0

Portfolio Value

Small $506,181,376

Diversification

Diversified

Filing Date

Global Rank

#518 / 8,586 ▼ 35

Top Industry

Semiconductors 18.0%

3Y Alpha vs SPY

-7.5%

Period ended 3 months ago

Filed May 12, 2026 · 35d

23 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+47.0%

SPY

+78.1%

Annualised alpha

-7.5%

Max drawdown

−19.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

428 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

10.4%

+2.0 pts

Top 5

27.6%

−1.9 pts

Top 10

36.6%

−3.8 pts

HHI

232

Diversified−7

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	34.7%	$2,472,362,116	78
Communication Services	11.3%	$802,561,284	24
Healthcare	10.0%	$715,941,634	46
Financial Services	10.0%	$714,892,196	56
Industrials	7.8%	$557,711,224	56
Consumer Cyclical	7.5%	$533,465,918	41
Consumer Defensive	7.1%	$506,181,376	32
Energy	4.9%	$349,112,219	22
Utilities	2.9%	$203,946,157	26
Real Estate	2.1%	$150,989,085	28
Basic Materials	1.3%	$92,639,967	15
Unclassified	0.5%	$32,364,709	4

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
NVDA	Nvidia Corp	+483,097	4,240,392	$739,524,364
WMT	Walmart Inc.	+362,450	939,304	$116,736,701
SLB	Slb Limited/Nv	+221,852	418,365	$21,499,777
INTC	Intel Corp	+157,353	1,130,361	$49,882,830
MSFT	Microsoft Corp	+135,421	1,242,866	$460,071,707
XEL	Xcel Energy Inc	+124,648	234,389	$18,619,862
GSG	iShares S&P GSCI Commodity-Indexed Trust	+118,000	236,000	$7,611,000
AVGO	Broadcom Inc.	+111,093	845,898	$261,813,889
GOOGL	Alphabet Inc.	+109,460	988,525	$284,260,249
T	At&T Inc.	+108,198	1,043,393	$30,247,963
PFE	Pfizer Inc	+95,870	843,816	$23,694,353
HBAN	Huntington Bancshares Inc /Md/	+94,308	301,107	$4,712,324
NFLX	Netflix Inc	+90,172	876,812	$84,305,473
CSCO	Cisco Systems, Inc.	+87,545	819,740	$63,603,626
IAU	Ishares Gold Trust	+72,574	145,148	$12,796,246
VZ	Verizon Communications Inc	+71,151	625,816	$31,415,963
CMCSA	Comcast Corp	+70,523	746,855	$21,442,207
TSLA	Tesla, Inc.	+68,095	524,929	$195,142,355
KO	Coca Cola Co	+66,818	585,299	$44,511,988
F	Ford Motor Co	+66,671	581,314	$6,708,363
XOM	Exxon Mobil Corp	+65,392	622,111	$105,547,352
WBD	Warner Bros. Discovery, Inc.	+53,754	508,646	$13,967,419
PLTR	Palantir Technologies Inc.	+50,961	474,397	$69,394,793
FITB	Fifth Third Bancorp	+46,539	133,532	$6,203,896
RKT	Rocket Companies, Inc.	+45,864	84,758	$1,207,801
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
BXP	BXP, Inc.	−4,996	14,522	$753,691
SJM	J M SMUCKER Co	−3,526	10,508	$1,013,391
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
LITE	Lumentum Holdings Inc.	10,572	$7,429,578
CDE	Coeur Mining, Inc.	52,622	$987,714
ASTS	AST SpaceMobile, Inc.	11,231	$930,712
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
AAPL	Apple Inc.	2,235,441	$607,726,990
AMZN	Amazon Com Inc	1,483,366	$342,390,540
BRK-B	Berkshire Hathaway Inc	221,944	$111,560,151
AMD	Advanced Micro Devices Inc	348,137	$74,557,019
BAC	Bank Of America Corp /De/	897,273	$49,350,015
AMAT	Applied Materials Inc /De	167,938	$43,158,386
AMGN	Amgen Inc	99,999	$32,730,672
RTX	RTX Corp	176,284	$32,330,485
BKNG	Booking Holdings Inc.	5,988	$32,067,716
ADI	Analog Devices Inc	110,131	$29,867,527
ABT	Abbott Laboratories	228,815	$28,668,231
AXP	American Express Co	71,504	$26,452,904
BA	Boeing Co	103,099	$22,384,854
APH	Amphenol Corp /De/	160,891	$21,742,809
ADP	Automatic Data Processing Inc	75,063	$19,308,455
ANET	Arista Networks, Inc.	137,353	$17,997,363
ADSK	Autodesk, Inc.	39,463	$11,681,442
AEP	American Electric Power Co Inc	99,223	$11,441,404
ABNB	Airbnb, Inc.	79,524	$10,792,997
BNY	Bank of New York Mellon Corp	92,070	$10,688,406
ELV	Elevance Health, Inc.	29,360	$10,292,148
FTNT	Fortinet, Inc.	124,808	$9,911,003
TDG	TransDigm Group INC	7,402	$9,843,549
MELI	Mercadolibre Inc	4,669	$9,404,579
ROP	Roper Technologies Inc	19,969	$8,888,800
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

32 positions · $506,181,376 total · Consumer Defensive only · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TAL	TAL Education Group Consumer Defensive	Added	18,712	+3,092	$212,755	+24.8%	0.04%
CPB	CAMPBELL'S Co Consumer Defensive	Added	19,379	+1,855	$431,570	−11.6%	0.09%
TAP	Molson Coors Beverage Co Consumer Defensive	Added	16,674	+1,574	$717,982	+1.9%	0.14%
CAG	Conagra Brands Inc. Consumer Defensive	Added	47,113	+4,450	$740,616	+0.3%	0.15%
HRL	Hormel Foods Corp /De/ Consumer Defensive	Added	43,819	+5,007	$992,500	+7.9%	0.20%
SJM	J M SMUCKER Co Consumer Defensive	Reduced	10,508	-3,526	$1,013,391	−26.2%	0.20%
MKC	Mccormick & Co Inc Consumer Defensive	Added	37,618	+4,304	$1,897,451	−16.4%	0.37%
CLX	Clorox Co /De/ Consumer Defensive	Added	18,558	+2,008	$1,923,165	+15.2%	0.38%
EL	Estee Lauder Companies Inc Consumer Defensive	Added	37,233	+4,761	$2,672,212	−21.4%	0.53%
TSN	Tyson Foods, Inc. Consumer Defensive	Added	41,911	+4,562	$2,685,237	+22.6%	0.53%
GIS	General Mills Inc Consumer Defensive	Added	79,189	+9,019	$2,947,414	−9.7%	0.58%
DLTR	Dollar Tree, Inc. Consumer Defensive	Added	27,644	+2,518	$3,027,294	−2.1%	0.60%
STZ	Constellation Brands, Inc. Consumer Defensive	Added	21,596	+2,329	$3,239,400	+21.9%	0.64%
CHD	Church & Dwight Co Inc /De/ Consumer Defensive	Added	35,299	+3,562	$3,294,102	+23.8%	0.65%
DG	Dollar General Corp Consumer Defensive	Added	32,668	+3,713	$3,878,671	+0.9%	0.77%
KHC	Kraft Heinz Co Consumer Defensive	Added	198,194	+20,691	$4,457,383	+3.6%	0.88%
HSY	Hershey Co Consumer Defensive	Added	22,156	+2,509	$4,606,010	+28.8%	0.91%
KMB	Kimberly Clark Corp Consumer Defensive	Added	49,258	+5,605	$4,751,919	+7.9%	0.94%
KVUE	Kenvue Inc. Consumer Defensive	Added	287,790	+32,402	$4,961,499	+12.6%	0.98%
SYY	Sysco Corp Consumer Defensive	Added	71,075	+8,096	$5,069,779	+9.2%	1.00%
KR	Kroger Co Consumer Defensive	Added	87,355	+6,312	$6,321,007	+24.8%	1.25%
KDP	Keurig Dr Pepper Inc. Consumer Defensive	Added	278,505	+29,336	$7,333,036	+5.1%	1.45%
CL	Colgate Palmolive Co Consumer Defensive	Added	117,616	+13,199	$10,024,411	+21.5%	1.98%
MNST	Monster Beverage Corp Consumer Defensive	Added	164,622	+17,253	$11,928,510	+5.6%	2.36%
MDLZ	Mondelez International, Inc. Consumer Defensive	Added	267,451	+26,933	$15,415,875	+19.1%	3.05%
MO	Altria Group, Inc. Consumer Defensive	Added	249,132	+28,251	$16,440,220	+29.1%	3.25%
PM	Philip Morris International Inc. Consumer Defensive	Added	231,025	+26,252	$38,197,673	+16.3%	7.55%
PEP	Pepsico Inc Consumer Defensive	Added	283,801	+29,928	$44,071,457	+21.0%	8.71%
KO	Coca Cola Co Consumer Defensive	Added	585,299	+66,818	$44,511,988	+22.8%	8.79%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	345,541	+37,985	$49,909,942	+13.2%	9.86%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	92,099	+9,878	$91,770,206	+29.4%	18.13%
WMT	Walmart Inc. Consumer Defensive	Added	939,304	+362,450	$116,736,701	+81.6%	23.06%