# EDGAR Filing Document

**Accession Number:** 0001735445
**File Stem:** 0001640334-23-000149
**Filing Date:** 2023-2
**Character Count:** 16461
**Document Hash:** a3dabaf25da5257f2cd03cc3732663cd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001640334-23-000149.hdr.sgml**: 20230202

**ACCESSION NUMBER**: 0001640334-23-000149

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230202

**DATE AS OF CHANGE**: 20230202

**EFFECTIVENESS DATE**: 20230202

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Rheos Capital Works Inc.
- **CENTRAL INDEX KEY:** 0001735445
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** M0
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18723
- **FILM NUMBER:** 23581871

**BUSINESS ADDRESS:**
- **STREET 1:** 1-11-1, MARUNOUCHI CHIYODA-KU
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 100-6227
- **BUSINESS PHONE:** 81-3-6266-0124

**MAIL ADDRESS:**
- **STREET 1:** 1-11-1, MARUNOUCHI CHIYODA-KU
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 100-6227

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Rheos Capital Works Inc.<br>**Address:** 1-11-1 MARUNOUCHI CHIYODA-KU<br>TOKYO, M0 100-6227

**Form 13F File Number:** 028-18723

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Shoko Ishikawa<br>**Title:** Manager of General Affairs Department<br>**Phone:** 81-3-6266-0124

**Signature, Place, and Date of Signing:**

/s/ Shoko Ishikawa  Tokyo, M0  01-30-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 133

**Form 13F Information Table Value Total:** $1663852

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Microsoft Corp. | COM | 594918104 |  | 95712 | 399100 | SH |  | SOLE |  | 399100 | 0 | 0 |
| NextEra Energy Inc. | COM | 65339F101 |  | 60108 | 719000 | SH |  | SOLE |  | 719000 | 0 | 0 |
| Corteva Inc. | COM | 22052L104 |  | 51726 | 880000 | SH |  | SOLE |  | 880000 | 0 | 0 |
| Tetra Tech Inc. | COM | 88162G103 |  | 44544 | 306800 | SH |  | SOLE |  | 306800 | 0 | 0 |
| Deere  Co. | COM | 244199105 |  | 44162 | 103000 | SH |  | SOLE |  | 103000 | 0 | 0 |
| TJX Companies Inc. | COM | 872540109 |  | 38765 | 487000 | SH |  | SOLE |  | 487000 | 0 | 0 |
| Caterpillar Inc. | COM | 149123101 |  | 38330 | 160000 | SH |  | SOLE |  | 160000 | 0 | 0 |
| Ferrari NV | COM | N3167Y103 |  | 36225 | 169100 | SH |  | SOLE |  | 169100 | 0 | 0 |
| Workday Inc. | CL A | 98138H101 |  | 33617 | 200900 | SH |  | SOLE |  | 200900 | 0 | 0 |
| The Hershey Co. | COM | 427866108 |  | 33091 | 142900 | SH |  | SOLE |  | 142900 | 0 | 0 |
| Cadence Design Systems Inc. | COM | 127387108 |  | 26923 | 167600 | SH |  | SOLE |  | 167600 | 0 | 0 |
| Ross Stores Inc. | COM | 778296103 |  | 25779 | 222100 | SH |  | SOLE |  | 222100 | 0 | 0 |
| Carrier Global Corp. | COM | 14448C104 |  | 23492 | 569500 | SH |  | SOLE |  | 569500 | 0 | 0 |
| Emerson Electric Co. | COM | 291011104 |  | 23256 | 242100 | SH |  | SOLE |  | 242100 | 0 | 0 |
| Tyson Foods Inc. | CL A | 902494103 |  | 22840 | 366900 | SH |  | SOLE |  | 366900 | 0 | 0 |
| ServiceNow Inc. | COM | 81762P102 |  | 22131 | 57000 | SH |  | SOLE |  | 57000 | 0 | 0 |
| Rockwell Automation Inc. | COM | 773903109 |  | 20297 | 78800 | SH |  | SOLE |  | 78800 | 0 | 0 |
| O'Reilly Automotive Inc. | COM | 67103H107 |  | 20172 | 23900 | SH |  | SOLE |  | 23900 | 0 | 0 |
| Starbucks Corp. | COM | 855244109 |  | 19840 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| Bill.Com Holdings Inc. | COM | 090043100 |  | 19776 | 181500 | SH |  | SOLE |  | 181500 | 0 | 0 |
| BJ's Wholesale Club Holdings Inc. | COM | 05550J101 |  | 19583 | 296000 | SH |  | SOLE |  | 296000 | 0 | 0 |
| Otis Worldwide Corp. | COM | 68902V107 |  | 18951 | 242000 | SH |  | SOLE |  | 242000 | 0 | 0 |
| Texas Instruments Inc. | COM | 882508104 |  | 18885 | 114300 | SH |  | SOLE |  | 114300 | 0 | 0 |
| International Business Machines Corp. | COM | 459200101 |  | 18851 | 133800 | SH |  | SOLE |  | 133800 | 0 | 0 |
| Alphabet Inc. | CL C | 02079K107 |  | 18633 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| ASML Holding N.V. | SPONSORED ADR | N07059210 |  | 18304 | 33500 | SH |  | SOLE |  | 33500 | 0 | 0 |
| Amazon.com Inc. | COM | 023135106 |  | 18228 | 217000 | SH |  | SOLE |  | 217000 | 0 | 0 |
| Motorola Solutions Inc. | COM | 620076307 |  | 17318 | 67200 | SH |  | SOLE |  | 67200 | 0 | 0 |
| Service Corp. International | COM | 817565104 |  | 16939 | 245000 | SH |  | SOLE |  | 245000 | 0 | 0 |
| Oracle Corp. | COM | 68389X105 |  | 16920 | 207000 | SH |  | SOLE |  | 207000 | 0 | 0 |
| Accenture plc. | CL A | G1151C101 |  | 16117 | 60400 | SH |  | SOLE |  | 60400 | 0 | 0 |
| Option Care Health Inc. | COM | 68404L201 |  | 15647 | 520000 | SH |  | SOLE |  | 520000 | 0 | 0 |
| Five Below Inc. | COM | 33829M101 |  | 14769 | 83500 | SH |  | SOLE |  | 83500 | 0 | 0 |
| Ball Corp. | COM | 058498106 |  | 14667 | 286800 | SH |  | SOLE |  | 286800 | 0 | 0 |
| Bunge Ltd. | COM | G16962105 |  | 14467 | 145000 | SH |  | SOLE |  | 145000 | 0 | 0 |
| Ameresco Inc. | CL A | 02361E108 |  | 14325 | 250700 | SH |  | SOLE |  | 250700 | 0 | 0 |
| Brookfield Corp. | COM | 11271J107 |  | 14251 | 453000 | SH |  | SOLE |  | 453000 | 0 | 0 |
| Discover Financial Services | COM | 254709108 |  | 14166 | 144800 | SH |  | SOLE |  | 144800 | 0 | 0 |
| Darling Ingredients Inc. | COM | 237266101 |  | 13958 | 223000 | SH |  | SOLE |  | 223000 | 0 | 0 |
| Autozone Inc. | COM | 053332102 |  | 13811 | 5600 | SH |  | SOLE |  | 5600 | 0 | 0 |
| Manhattan Associates Inc. | COM | 562750109 |  | 13767 | 113400 | SH |  | SOLE |  | 113400 | 0 | 0 |
| Micron Technology Inc. | COM | 595112103 |  | 13585 | 271800 | SH |  | SOLE |  | 271800 | 0 | 0 |
| SiteOne Landscape Supply Inc. | COM | 82982L103 |  | 13514 | 115192 | SH |  | SOLE |  | 115192 | 0 | 0 |
| Edwards Lifesciences Corp. | COM | 28176E108 |  | 13442 | 180165 | SH |  | SOLE |  | 180165 | 0 | 0 |
| Roper Technologies Inc. | COM | 776696106 |  | 13179 | 30500 | SH |  | SOLE |  | 30500 | 0 | 0 |
| Qualcomm Inc. | COM | 747525103 |  | 12687 | 115400 | SH |  | SOLE |  | 115400 | 0 | 0 |
| Generac Holdings Inc. | COM | 368736104 |  | 12643 | 125600 | SH |  | SOLE |  | 125600 | 0 | 0 |
| Live Oak Bancshares Inc. | COM | 53803X105 |  | 12473 | 413000 | SH |  | SOLE |  | 413000 | 0 | 0 |
| Skechers USA Inc. | CL A | 830566105 |  | 12392 | 295400 | SH |  | SOLE |  | 295400 | 0 | 0 |
| Goldman Sachs Group Inc. | COM | 38141G104 |  | 12121 | 35300 | SH |  | SOLE |  | 35300 | 0 | 0 |
| Intuit Inc. | COM | 461202103 |  | 11677 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| THE Goodyear Tire  Rubber Co. | COM | 382550101 |  | 10827 | 1066700 | SH |  | SOLE |  | 1066700 | 0 | 0 |
| Capital One Financial Corp. | COM | 14040H105 |  | 10672 | 114800 | SH |  | SOLE |  | 114800 | 0 | 0 |
| Waste Connections Inc. | COM | 94106B101 |  | 10605 | 80000 | SH |  | SOLE |  | 80000 | 0 | 0 |
| BorgWarner Inc. | COM | 099724106 |  | 10389 | 258100 | SH |  | SOLE |  | 258100 | 0 | 0 |
| Waste Management Inc. | COM | 94106L109 |  | 10291 | 65600 | SH |  | SOLE |  | 65600 | 0 | 0 |
| Xylem Inc. | COM | 98419M100 |  | 9951 | 90000 | SH |  | SOLE |  | 90000 | 0 | 0 |
| Casey's General Stores Inc. | COM | 147528103 |  | 9714 | 43300 | SH |  | SOLE |  | 43300 | 0 | 0 |
| United Rentals Inc. | COM | 911363109 |  | 9632 | 27100 | SH |  | SOLE |  | 27100 | 0 | 0 |
| Dow Inc. | COM | 260557103 |  | 9458 | 187700 | SH |  | SOLE |  | 187700 | 0 | 0 |
| Applied Materials Inc. | COM | 038222105 |  | 9426 | 96800 | SH |  | SOLE |  | 96800 | 0 | 0 |
| Agilent Technologies Inc. | COM | 00846U101 |  | 9398 | 62800 | SH |  | SOLE |  | 62800 | 0 | 0 |
| World Wrestling Entertainment Inc. | CL A | 98156Q108 |  | 9374 | 136800 | SH |  | SOLE |  | 136800 | 0 | 0 |
| Lam Research Corp. | COM | 512807108 |  | 9289 | 22100 | SH |  | SOLE |  | 22100 | 0 | 0 |
| American Water Works Co. Inc. | COM | 030420103 |  | 9145 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| Thor Industries Inc. | COM | 885160101 |  | 9074 | 120200 | SH |  | SOLE |  | 120200 | 0 | 0 |
| Fortinet Inc. | COM | 34959E109 |  | 8947 | 183000 | SH |  | SOLE |  | 183000 | 0 | 0 |
| American Express Co. | COM | 025816109 |  | 8850 | 59900 | SH |  | SOLE |  | 59900 | 0 | 0 |
| Keysight Technologies Inc. | COM | 49338L103 |  | 8725 | 51000 | SH |  | SOLE |  | 51000 | 0 | 0 |
| The Walt Disney Co. | COM | 254687106 |  | 8688 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| Ollie's Bargain Outlet Holdings Inc. | COM | 681116109 |  | 8553 | 182600 | SH |  | SOLE |  | 182600 | 0 | 0 |
| Exponent Inc. | COM | 30214U102 |  | 8532 | 86100 | SH |  | SOLE |  | 86100 | 0 | 0 |
| Equinix Inc. | COM | 29444U700 |  | 8515 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| General Motors Co. | COM | 37045V100 |  | 8343 | 248000 | SH |  | SOLE |  | 248000 | 0 | 0 |
| Wolfspeed Inc. | COM | 977852102 |  | 8333 | 120700 | SH |  | SOLE |  | 120700 | 0 | 0 |
| Cooper Companies Inc. | COM | 216648402 |  | 8068 | 24400 | SH |  | SOLE |  | 24400 | 0 | 0 |
| American Tower Corp. | COM | 03027X100 |  | 7966 | 37600 | SH |  | SOLE |  | 37600 | 0 | 0 |
| Choice Hotels International Inc. | COM | 169905106 |  | 7660 | 68000 | SH |  | SOLE |  | 68000 | 0 | 0 |
| Visa Inc. | CL A | 92826C839 |  | 7521 | 36200 | SH |  | SOLE |  | 36200 | 0 | 0 |
| Crown Castle International Corp. | COM | 22822V101 |  | 7447 | 54900 | SH |  | SOLE |  | 54900 | 0 | 0 |
| Take-Two Interactive Software Inc. | COM | 874054109 |  | 7362 | 70700 | SH |  | SOLE |  | 70700 | 0 | 0 |
| Hess Corp. | COM | 42809H107 |  | 7346 | 51800 | SH |  | SOLE |  | 51800 | 0 | 0 |
| The Duckhorn Portfolio Inc. | COM | 26414D106 |  | 7274 | 439000 | SH |  | SOLE |  | 439000 | 0 | 0 |
| Murphy USA Inc. | COM | 626755102 |  | 7268 | 26000 | SH |  | SOLE |  | 26000 | 0 | 0 |
| Houlihan Lokey Inc. | CL A | 441593100 |  | 7104 | 81500 | SH |  | SOLE |  | 81500 | 0 | 0 |
| Raytheon Technologies Corp. | COM | 75513E101 |  | 7064 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| Thermo Fisher Scientific Inc. | COM | 883556102 |  | 6884 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| Yeti Holdings Inc. | COM | 98585X104 |  | 6729 | 162900 | SH |  | SOLE |  | 162900 | 0 | 0 |
| Wyndham Hotels  Resorts Inc. | COM | 98311A105 |  | 6703 | 94000 | SH |  | SOLE |  | 94000 | 0 | 0 |
| Global Payments Inc. | COM | 37940X102 |  | 6635 | 66800 | SH |  | SOLE |  | 66800 | 0 | 0 |
| Leidos Holdings Inc. | COM | 525327102 |  | 6553 | 62300 | SH |  | SOLE |  | 62300 | 0 | 0 |
| EOG Resources Inc. | COM | 26875P101 |  | 6476 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| Akamai Technologies Inc. | COM | 00971T101 |  | 6221 | 73800 | SH |  | SOLE |  | 73800 | 0 | 0 |
| PowerSchool Holdings Inc. | CL A | 73939C106 |  | 5948 | 257700 | SH |  | SOLE |  | 257700 | 0 | 0 |
| L3Harris Technologies Inc. | COM | 502431109 |  | 5934 | 28500 | SH |  | SOLE |  | 28500 | 0 | 0 |
| SentinelOne Inc. | CL A | 81730H109 |  | 5826 | 399300 | SH |  | SOLE |  | 399300 | 0 | 0 |
| Doximity Inc. | CL A | 26622P107 |  | 5799 | 172800 | SH |  | SOLE |  | 172800 | 0 | 0 |
| Simply Good Foods Corp. | COM | 82900L102 |  | 5666 | 149000 | SH |  | SOLE |  | 149000 | 0 | 0 |
| Intel Corp. | COM | 458140100 |  | 5460 | 206600 | SH |  | SOLE |  | 206600 | 0 | 0 |
| Chart Industries Inc. | COM | 16115Q308 |  | 5358 | 46500 | SH |  | SOLE |  | 46500 | 0 | 0 |
| Veeva Systems Inc. | CL A | 922475108 |  | 5148 | 31900 | SH |  | SOLE |  | 31900 | 0 | 0 |
| Progyny Inc. | COM | 74340E103 |  | 4859 | 156000 | SH |  | SOLE |  | 156000 | 0 | 0 |
| Surgery Partners Inc. | COM | 86881A100 |  | 4848 | 174000 | SH |  | SOLE |  | 174000 | 0 | 0 |
| Dana Inc. | COM | 235825205 |  | 4819 | 318500 | SH |  | SOLE |  | 318500 | 0 | 0 |
| Johnson Controls Inc. | COM | G51502105 |  | 4800 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| Advanced Micro Devices Inc. | COM | 007903107 |  | 4650 | 71800 | SH |  | SOLE |  | 71800 | 0 | 0 |
| Liberty Media Corp-Liberty Formula One | CL A | 531229870 |  | 4574 | 85600 | SH |  | SOLE |  | 85600 | 0 | 0 |
| MSCI Inc. | COM | 55354G100 |  | 4559 | 9800 | SH |  | SOLE |  | 9800 | 0 | 0 |
| Palo Alto Networks Inc. | COM | 697435105 |  | 4396 | 31500 | SH |  | SOLE |  | 31500 | 0 | 0 |
| Ally Financial Inc. | COM | 02005N100 |  | 4254 | 174000 | SH |  | SOLE |  | 174000 | 0 | 0 |
| S Global Inc. | COM | 78409V104 |  | 4153 | 12400 | SH |  | SOLE |  | 12400 | 0 | 0 |
| PayPal Holdings Inc. | COM | 70450Y103 |  | 4060 | 57000 | SH |  | SOLE |  | 57000 | 0 | 0 |
| NICE Ltd. | SPONSORED ADR | 653656108 |  | 3692 | 19200 | SH |  | SOLE |  | 19200 | 0 | 0 |
| Vertiv Holdings Co. | COM | 92537N108 |  | 3620 | 265000 | SH |  | SOLE |  | 265000 | 0 | 0 |
| AMN Healthcare Services Inc. | COM | 001744101 |  | 3496 | 34000 | SH |  | SOLE |  | 34000 | 0 | 0 |
| Microchip Technology Inc. | COM | 595017104 |  | 3372 | 48000 | SH |  | SOLE |  | 48000 | 0 | 0 |
| Brookfield Asset Management Inc. | CL A | 112585104 |  | 3271 | 114074 | SH |  | SOLE |  | 114074 | 0 | 0 |
| Enovis Corp. | COM | 194014502 |  | 3086 | 57666 | SH |  | SOLE |  | 57666 | 0 | 0 |
| DocuSign Inc. | COM | 256163106 |  | 2838 | 51200 | SH |  | SOLE |  | 51200 | 0 | 0 |
| Arco Platform Ltd. | CL A | G04553106 |  | 2736 | 202700 | SH |  | SOLE |  | 202700 | 0 | 0 |
| Oak Street Health Inc. | COM | 67181A107 |  | 2702 | 125600 | SH |  | SOLE |  | 125600 | 0 | 0 |
| Allegiant Travel Co. | COM | 01748X102 |  | 2393 | 35200 | SH |  | SOLE |  | 35200 | 0 | 0 |
| ESAB Corp. | COM | 29605J106 |  | 2190 | 46666 | SH |  | SOLE |  | 46666 | 0 | 0 |
| Block Inc. | CL A | 852234103 |  | 2093 | 33300 | SH |  | SOLE |  | 33300 | 0 | 0 |
| BlackLine Inc. | COM | 09239B109 |  | 1884 | 28000 | SH |  | SOLE |  | 28000 | 0 | 0 |
| Tesla Inc. | COM | 88160R101 |  | 1848 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| Procore Technologies Inc. | COM | 74275K108 |  | 1415 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| Olo Inc. | CL A | 68134L109 |  | 1389 | 222200 | SH |  | SOLE |  | 222200 | 0 | 0 |
| CryoPort Inc. | COM | 229050307 |  | 954 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| Alkami Technology Inc. | COM | 01644J108 |  | 912 | 62500 | SH |  | SOLE |  | 62500 | 0 | 0 |
| Kratos Defense  Security Solutions Inc. | COM | 50077B207 |  | 599 | 58000 | SH |  | SOLE |  | 58000 | 0 | 0 |
| Brookfield Reinsurance Ltd. | COM | G16250105 |  | 103 | 3296 | SH |  | SOLE |  | 3296 | 0 | 0 |
| Torrid Holdings Inc. | COM | 89142B107 |  | 80 | 27000 | SH |  | SOLE |  | 27000 | 0 | 0 |

---