Citadel-related entities and Kenneth Griffin report ownership of RH common stock totaling about 752,232 shares, representing approximately 4.0% of RH's outstanding shares. The Schedule 13G/A discloses that Citadel Securities LLC may be deemed to beneficially own 646,563 shares (3.5%), while Citadel Securities Group LP and Citadel Securities GP LLC each may be deemed to own 752,232 shares (4.0%). Smaller holdings of 10 shares are reported for several affiliated entities. The filing states these holdings are not intended to influence control of the issuer and are jointly filed by multiple Citadel-related reporting persons.
Positive
None.
Negative
None.
Insights
TL;DR: Citadel affiliates disclose a non-control ~4% position in RH, notable for ownership transparency but not a controlling stake.
The filing aggregates holdings across related Citadel entities and Kenneth Griffin, showing up to 4.0% ownership of RH. For investors, a sub-5% stake typically signals a financial position rather than an activist or control intent, consistent with the certification in Item 10. The split between shared voting and dispositive power indicates holdings are managed across affiliated legal entities rather than held solely by one account. This disclosure improves market transparency but is unlikely by itself to materially change RH's governance or strategy.
TL;DR: Joint Schedule 13G/A clarifies relationships and voting/dispositive allocation; no evidence of coordinated control efforts.
The statement details organizational links among Citadel entities and Mr. Griffin, and specifies shared voting and dispositive powers rather than sole control. The certification that the securities were not acquired to influence control aligns with passive investor treatment under Schedule 13G. From a governance perspective, disclosure of related-party structures and exact share counts (including citation of the 18,732,450 share base) is useful for assessing potential influence, but the reported percentage remains below thresholds that typically trigger heightened takeover or governance concerns.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
RH
(Name of Issuer)
Common Stock, $0.0001 par value (the "Shares")
(Title of Class of Securities)
74967X103
(CUSIP Number)
06/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
74967X103
1
Names of Reporting Persons
Citadel Securities GP LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
752,232.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
752,232.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
752,232.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.0 %
12
Type of Reporting Person (See Instructions)
HC, OO
Comment for Type of Reporting Person: The percentages reported in this Schedule 13G are based upon 18,732,450 Shares outstanding as of June 6, 2025 (according to the issuer's Form 10-Q as filed with the Securities and Exchange Commission on June 12, 2025).
SCHEDULE 13G
CUSIP No.
74967X103
1
Names of Reporting Persons
Citadel Securities LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
646,563.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
646,563.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
646,563.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.5 %
12
Type of Reporting Person (See Instructions)
BD, OO
SCHEDULE 13G
CUSIP No.
74967X103
1
Names of Reporting Persons
Citadel Securities Group LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
752,232.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
752,232.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
752,232.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.0 %
12
Type of Reporting Person (See Instructions)
HC, PN
SCHEDULE 13G
CUSIP No.
74967X103
1
Names of Reporting Persons
Citadel Advisors LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
10.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
IA, HC, OO
SCHEDULE 13G
CUSIP No.
74967X103
1
Names of Reporting Persons
Citadel Advisors Holdings LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
10.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
HC, PN
SCHEDULE 13G
CUSIP No.
74967X103
1
Names of Reporting Persons
Citadel GP LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
10.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP No.
74967X103
1
Names of Reporting Persons
Kenneth Griffin
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
752,242.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
752,242.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
752,242.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.0 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
RH
(b)
Address of issuer's principal executive offices:
15 Koch Road, Corte Madera, CA, 94925
Item 2.
(a)
Name of person filing:
This Schedule 13G is being jointly filed by Citadel Securities GP LLC ("CSGP"), Citadel Securities LLC ("Citadel Securities"), Citadel Securities Group LP ("CALC4"), Citadel Advisors LLC ("Citadel Advisors"), Citadel Advisors Holdings LP ("CAH"), Citadel GP LLC ("CGP"), and Mr. Kenneth Griffin (collectively with CSGP, Citadel Securities, CALC4, Citadel Advisors, CAH, and CGP, the "Reporting Persons") with respect to the Shares of the above-named issuer owned by Citadel Clearing LLC, a Delaware limited liability company ("CCLC"), Citadel Securities Principal Strategies LLC, a Delaware limited liability company ("CSP"), CRBU Holdings LLC, a Delaware limited liability company ("CRBH"), and Citadel Securities. Such owned Shares may include other instruments exercisable for or convertible into Shares.
CALC4 is the non-member manager of Citadel Securities, CRBH and CSP. CSGP is the general partner of CALC4. Citadel Advisors is the portfolio manager for CLP Holdings Six LLC, a Delaware limited liability company ("CLP6"). CAH is the sole member of Citadel Advisors. CLP6 is the portfolio manager for CCLC. CGP is the general partner of CAH. Mr. Griffin is the President and Chief Executive Officer of CGP, and owns a controlling interest in CGP and CSGP.
The filing of this statement shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any securities covered by the statement other than the securities actually owned by such person (if any).
(b)
Address or principal business office or, if none, residence:
The address of each of the Reporting Persons is 830 Brickell Plaza, Miami, Florida 33131.
(c)
Citizenship:
Each of CSGP, Citadel Securities, Citadel Advisors, and CGP is organized as a limited liability company under the laws of the State of Delaware. Each of CALC4 and CAH is organized as a limited partnership under the laws of the State of Delaware. Mr. Griffin is a U.S. citizen.
(d)
Title of class of securities:
Common Stock, $0.0001 par value (the "Shares")
(e)
CUSIP No.:
74967X103
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
1. Citadel Securities LLC may be deemed to beneficially own 646,563 Shares.
2. Each of Citadel Securities Group LP and Citadel Securities GP LLC may be deemed to beneficially own 752,232 Shares.
3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC may be deemed to beneficially own 10 Shares
4. Mr. Griffin may be deemed to beneficially own 752,242 Shares.
(b)
Percent of class:
1. The number of Shares that Citadel Securities LLC may be deemed to beneficially own constitutes 3.5% of the Shares outstanding.
2. The number of Shares that each of Citadel Securities Group LP and Citadel Securities GP LLC may be deemed to beneficially own constitutes 4.0% of the Shares outstanding.
3. The number of Shares that each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC may be deemed to beneficially own constitutes 0.0% of the Shares outstanding.
4. The number of Shares that Mr. Griffin may be deemed to beneficially own constitutes 4.0% of the Shares outstanding.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
1. Citadel Securities LLC: 0
2. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 0
3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 0
4. Mr. Griffin: 0
(ii) Shared power to vote or to direct the vote:
1. Citadel Securities LLC: 646,563
2. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 752,232
3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 10
4. Mr. Griffin: 752,242
(iii) Sole power to dispose or to direct the disposition of:
1. Citadel Securities LLC: 0
2. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 0
3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 0
4. Mr. Griffin: 0
(iv) Shared power to dispose or to direct the disposition of:
1. Citadel Securities LLC: 646,563
2. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 752,232
3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 10
4. Mr. Griffin: 752,242
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Citadel Securities GP LLC
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
08/14/2025
Citadel Securities LLC
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
08/14/2025
Citadel Securities Group LP
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
08/14/2025
Citadel Advisors LLC
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
08/14/2025
Citadel Advisors Holdings LP
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
08/14/2025
Citadel GP LLC
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, Authorized Signatory
Date:
08/14/2025
Kenneth Griffin
Signature:
/s/ Seth Levy
Name/Title:
Seth Levy, attorney-in-fact*
Date:
08/14/2025
Comments accompanying signature: * Seth Levy is signing on behalf of Kenneth Griffin as attorney-in-fact pursuant to a power of attorney previously filed with the Securities and Exchange Commission, and hereby incorporated by reference herein. The power of attorney was filed as an attachment to a filing by Citadel Advisors LLC on Schedule 13G for Allakos Inc. on October 13, 2023.
How many RH shares do Citadel entities report owning?
The filing reports aggregate holdings of 752,232 shares by certain Citadel-related reporting persons (about 4.0% of outstanding shares).
What percentage of RH does Kenneth Griffin own according to the filing?
Kenneth Griffin is reported as being deemed to beneficially own 752,242 shares, representing approximately 4.0% of RH.
Does the Schedule 13G/A indicate Citadel seeks to control RH?
No. The filing includes a certification that the securities were not acquired to influence control of the issuer and are reported on Schedule 13G standards.
Which Citadel entities are named in the joint filing for RH (ticker RH)?
The joint filing names Citadel Securities GP LLC, Citadel Securities LLC, Citadel Securities Group LP, Citadel Advisors LLC, Citadel Advisors Holdings LP, Citadel GP LLC, and Kenneth Griffin.
What is the share count used to calculate the percentage ownership?
Percentages are based on 18,732,450 shares outstanding as stated in the filing (per the issuer's filing dated June 12, 2025).
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