Rheos Capital Works Inc.
Long book
$1.50B
Q1 2026
Positions
73
Top-10 weight
32%
concentration
Last quarter
+19.8%
SPY +14.8%
Turnover
39%
of book per quarter
Strategy in plain words
auto-generated from filingsRheos Capital Works Inc. is a diversified fundamental manager, running a $1.50B US long book across 73 positions.
The portfolio is moderately concentrated (top 10 ≈ 32% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: FERRARI NV, AMAZON.COM INC, BJ'S WHOLESALE CLUB HOLDINGS, CATERPILLAR INC, NVIDIA CORP.
Over the last 9 quarters its long book ran on average 0.4pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+6.8%
Q2 2024
+2.9%
Q3 2024
+1.7%
Q4 2024
-6.2%
Q1 2025
+14.7%
Q2 2025
+6.5%
Q3 2025
-3.4%
Q4 2025
-5.9%
Q1 2026
+19.8%
Sector allocation
Technology 31%
Industrials 29%
Consumer discretionary 10%
Services media 7%
Other 6%
Financials 6%
Energy 4%
Healthcare 2%
Long book by quarter
What does Rheos Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| RACE FERRARI NV | Industrials | 230.2K | $77.9M | 5.2% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 272.8K | $56.8M | 3.8% | +122.1% |
| BJ BJ'S WHOLESALE CLUB HOLDINGS | Consumer discretionary | 550.0K | $54.1M | 3.6% | New |
| CAT CATERPILLAR INC | Industrials | 70.0K | $49.6M | 3.3% | -27.8% |
| NVDA NVIDIA CORP | Technology | 281.3K | $49.1M | 3.3% | Held |
| MSFT MICROSOFT CORP | Technology | 120.0K | $44.4M | 3.0% | +40.7% |
| META META PLATFORMS INC-CLASS A | Technology | 76.5K | $43.8M | 2.9% | -64.2% |
| NFLX NETFLIX INC | Services media | 375.0K | $36.1M | 2.4% | +400.0% |
| DHI DR HORTON INC | Industrials | 260.0K | $35.7M | 2.4% | -36.6% |
| AMD ADVANCED MICRO DEVICES | Technology | 174.0K | $35.4M | 2.4% | +97.7% |
| EQT EQT CORP | Energy | 550.0K | $35.0M | 2.3% | New |
| AMAT APPLIED MATERIALS INC | Technology | 100.0K | $34.2M | 2.3% | -58.3% |
| AVGO BROADCOM INC | Technology | 107.5K | $33.3M | 2.2% | Held |
| UBER UBER TECHNOLOGIES INC | Services media | 450.0K | $32.4M | 2.2% | Held |
| TSLA TESLA INC | Industrials | 85.0K | $31.6M | 2.1% | Held |
| JOBY JOBY AVIATION INC | Industrials | 3.7M | $30.3M | 2.0% | +3.4% |
| BA BOEING CO/THE | Industrials | 150.0K | $29.9M | 2.0% | -29.0% |
| GOOG ALPHABET INC-CL C | Technology | 100.0K | $28.7M | 1.9% | -25.9% |
| INTC INTEL CORP | Technology | 610.0K | $26.9M | 1.8% | +144.0% |
| STXN SEAGATE TECHNOLOGY HOLDINGS | — | 67.5K | $26.4M | 1.8% | -3.6% |
| LMT LOCKHEED MARTIN CORP | Industrials | 43.2K | $26.1M | 1.7% | Held |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 51.0K | $25.1M | 1.7% | Held |
| BAC BANK OF AMERICA CORP | Financials | 500.0K | $24.4M | 1.6% | New |
| PFE PFIZER INC | Healthcare | 750.0K | $21.1M | 1.4% | New |
| BKR BAKER HUGHES CO | Industrials | 340.0K | $20.8M | 1.4% | +17.2% |
| NET CLOUDFLARE INC - CLASS A | Technology | 100.0K | $20.6M | 1.4% | New |
| OLLI OLLIE'S BARGAIN OUTLET HOLDI | Consumer discretionary | 213.0K | $19.6M | 1.3% | Held |
| DIS WALT DISNEY CO/THE | Services media | 200.4K | $19.3M | 1.3% | Held |
| PEP PEPSICO INC | Consumer staples | 120.0K | $18.6M | 1.2% | New |
| CNH CNH INDUSTRIAL NV | Industrials | 1.6M | $17.8M | 1.2% | Held |
| SHOP SHOPIFY INC - CLASS A | Technology | 138.0K | $16.4M | 1.1% | Held |
| HAL HALLIBURTON CO | Energy | 400.0K | $15.6M | 1.0% | New |
| MELI MERCADOLIBRE INC | Services media | 9.0K | $15.6M | 1.0% | Held |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 11.6K | $15.3M | 1.0% | +182.9% |
| AAPL APPLE INC | Technology | 60.0K | $15.2M | 1.0% | -55.4% |
| XYL XYLEM INC | Industrials | 120.9K | $14.4M | 1.0% | Held |
| GS GOLDMAN SACHS GROUP INC | Financials | 15.5K | $13.1M | 0.9% | Held |
| WDC WESTERN DIGITAL CORP | Technology | 48.0K | $13.0M | 0.9% | -63.1% |
| HSY HERSHEY CO/THE | Consumer staples | 62.0K | $12.9M | 0.9% | -50.0% |
| BIRK BIRKENSTOCK HOLDING PLC | Other | 350.0K | $12.5M | 0.8% | New |
| AVAV AEROVIRONMENT INC | Industrials | 67.0K | $12.3M | 0.8% | -52.1% |
| HOOD ROBINHOOD MARKETS INC - A | Financials | 175.0K | $12.1M | 0.8% | Held |
| SNOW SNOWFLAKE INC | Technology | 80.0K | $12.1M | 0.8% | -38.9% |
| CSCO CISCO SYSTEMS INC | Technology | 155.0K | $12.0M | 0.8% | Held |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 50.0K | $11.3M | 0.8% | New |
| AXP AMERICAN EXPRESS CO | Financials | 36.7K | $11.1M | 0.7% | Held |
| KLAC KLA CORP | Other | 7.2K | $10.6M | 0.7% | -48.6% |
| PG PROCTER & GAMBLE CO/THE | Other | 73.0K | $10.5M | 0.7% | New |
| JPM JPMORGAN CHASE & CO | Financials | 35.0K | $10.3M | 0.7% | New |
| LRCX LAM RESEARCH CORP | Industrials | 47.5K | $10.1M | 0.7% | -52.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 73 | $1.50B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 21, 2026 | 67 | $1.56B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 22, 2025 | 62 | $1.79B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 28, 2025 | 68 | $1.74B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 14, 2025 | 67 | $1.23B | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 24, 2025 | 97 | $1.80B | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 16, 2024 | 105 | $1.92B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 24, 2024 | 98 | $1.91B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 11, 2024 | 97 | $2.09B | $K fixed canonical | SEC ↗ |
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