Top Holdings by value as of 2025-09-30:

1. VANGUARD INDEX FDS - $16.1B (57%)
2. VANGUARD INTL EQUITY INDEX F - $2.2B (8%)
3. SCHWAB STRATEGIC TR - $1.2B (4%)
4. VANGUARD STAR FDS - $1.1B (4%)
5. OREILLY AUTOMOTIVE INC - $616.4M (2%)

When compared to holdings as of 2025-03-31:

New Positions:

• AFFIRM HLDGS INC
• AMERICAN INTEGRITY INS GROUP
• ASTERA LABS INC
• CARIS LIFE SCIENCES INC
• CHAGEE HLDGS LTD
• ... and 12 more

Closed Positions:

• ALLY FINL INC
• AMER SPORTS INC
• AMKOR TECHNOLOGY INC
• ANSYS INC
• AON PLC
• ... and 69 more

Increase Position by 25% or more:

• 3M CO
• ABBOTT LABS
• ABBVIE INC
• ADVANCED MICRO DEVICES INC
• AECOM
• ... and 300 more

Reduce Position by 25% or more:

• AFLAC INC
• AIRBNB INC
• ALLIANT ENERGY CORP
• ALPHABET INC - CAP STK CL A
• AMAZON COM INC
• ... and 230 more

Rakuten Investment Management, Inc. is headquartered in Tokyo, Japan.

Source