Rakuten Investment Management, Inc.

CIK 0002062680 · Q2 2026

13F Equity AUM

$34.6B

+23.0% QoQ

Positions

467

+3 QoQ

AUM Rank

#717

Top 6%

Skill Alpha (FF)

-0.8%/yr^ns

No Clear Edge

Rank #4,035 · Top 49%

vs S&P -1.2%/yr (unadj.)

Quarters Tracked

~6 years

Portfolio Concentration

Top 5: 71.0%Top 10: 77.5%Top 20: 83.0%

VTI52.7%

VT6.9%

VXUS4.4%

SCHD4.3%

NVDA2.7%

VOO1.9%

MSFT1.5%

GOOGL1.1%

AVGO1.0%

MU1.0%

Others (457)22.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services75.0%

Technology10.7%

Communication Services3.6%

Healthcare2.5%

Other8.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 467Median: 0.02%Avg: 0.21%

0–0.5%

453(19.3%)

0.5–1%

5(4.1%)

1–3%

5(8.2%)

3–5%

2(8.8%)

5%+

2(59.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 467vs 20 funds

0%Low

467

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New22Increased408Decreased35Exited18

New Positions

APH0.1%

+201K

BKNG0.1%

+187K

BA0.1%

+127K

HONEYWELL AEROSPACE …0.1%

+76K

BK0.1%

+112K

JEPI0.0%

+252K

URI0.0%

+10K

ROP0.0%

+24K

FERG0.0%

+11K

VEEV0.0%

+25K

Increased

SCHD4.3%

+5.5M(+13%)

VXUS4.4%

+3.0M(+20%)

VTI52.7%

+2.2M(+5%)

SCHE0.3%

+700K(+31%)

NVDA2.7%

+527K(+12%)

KLAC0.3%

+354K(+1120%)

VEA0.1%

+310K(+81%)

VYM0.8%

+277K(+19%)

MSFT1.5%

+159K(+13%)

WMT0.4%

+155K(+17%)

Decreased

VT6.9%

-246,500(-2%)

SLB0.0%

-173,483(-41%)

IEMG0.1%

-118,206(-37%)

XEL0.0%

-83,988(-36%)

VCIT0.1%

-64,800(-16%)

HON0.1%

-55,386(-42%)

VCSH0.0%

-34,200(-16%)

RKT0.0%

-33,082(-39%)

YUM0.0%

-32,600(-42%)

IM8N0.0%

-31,740(-72%)

Exited

LRCX

-288,176

-27,641

HOLX

-33,056

CTRA

-112,727

-61,217

JKHY

-10,720

CCL

-168,832

TRI

-26,281

-10,536

COO

-29,085

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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