Rakuten Raises Palantir Stake, Reports Target at $215
Rakuten Investment Management Inc. boosted its stakes in a slate of major U.S. equities during the second quarter, including Palantir Technologies, Electronic Arts, Norfolk Southern, S&P Global, and Texas Instruments. The Palantir position grew by 15.2% to 546,398 shares, worth about $63.2 million, as Rakuten joined a broad cohort of institutional investors altering their Palantir holdings. In Electronic Arts, Rakuten purchased 56,239 shares for roughly $11.5 million, alongside notable purchases by BlackRock and Public Investment Fund among others. For Norfolk Southern, Rakuten acquired 36,730 shares valued around $11.6 million, with 75% of the stock already held by institutions and hedge funds. In S&P Global, the fund bought 49,588 shares valued at about $20.3 million, as the stock saw participation from Norges Bank and Bank of America among others. Finally, Rakuten’s second-quarter activity extended to Texas Instruments, adding 263,737 shares worth about $75.3 million, helping TI remain a sizable position in its portfolio as institutional ownership stands high across the board.
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