diff --git a/app/models/plaid_account.rb b/app/models/plaid_account.rb
index 165ed1551..bb5237586 100644
--- a/app/models/plaid_account.rb
+++ b/app/models/plaid_account.rb
@@ -5,7 +5,8 @@ class PlaidAccount < ApplicationRecord
   if encryption_ready?
     encrypts :raw_payload
     encrypts :raw_transactions_payload
-    encrypts :raw_investments_payload
+    # Support reading data encrypted under the old column name after rename
+    encrypts :raw_holdings_payload, previous: { attribute: :raw_investments_payload }
     encrypts :raw_liabilities_payload
   end
 
@@ -48,9 +49,9 @@ class PlaidAccount < ApplicationRecord
     save!
   end
 
-  def upsert_plaid_investments_snapshot!(investments_snapshot)
+  def upsert_plaid_holdings_snapshot!(holdings_snapshot)
     assign_attributes(
-      raw_investments_payload: investments_snapshot
+      raw_holdings_payload: holdings_snapshot
     )
 
     save!
diff --git a/app/models/plaid_account/importer.rb b/app/models/plaid_account/importer.rb
index 10ae10840..f12c10bdd 100644
--- a/app/models/plaid_account/importer.rb
+++ b/app/models/plaid_account/importer.rb
@@ -23,7 +23,7 @@ class PlaidAccount::Importer
     end
 
     def import_investments
-      plaid_account.upsert_plaid_investments_snapshot!(account_snapshot.investments_data)
+      plaid_account.upsert_plaid_holdings_snapshot!(account_snapshot.investments_data)
     end
 
     def import_liabilities
diff --git a/app/models/plaid_account/investments/balance_calculator.rb b/app/models/plaid_account/investments/balance_calculator.rb
index eade15ee4..852f29a0d 100644
--- a/app/models/plaid_account/investments/balance_calculator.rb
+++ b/app/models/plaid_account/investments/balance_calculator.rb
@@ -44,7 +44,7 @@ class PlaidAccount::Investments::BalanceCalculator
     attr_reader :plaid_account, :security_resolver
 
     def holdings
-      plaid_account.raw_investments_payload["holdings"] || []
+      plaid_account.raw_holdings_payload&.dig("holdings") || []
     end
 
     def calculate_investment_brokerage_cash
diff --git a/app/models/plaid_account/investments/holdings_processor.rb b/app/models/plaid_account/investments/holdings_processor.rb
index 493b8a9d1..44b967ea2 100644
--- a/app/models/plaid_account/investments/holdings_processor.rb
+++ b/app/models/plaid_account/investments/holdings_processor.rb
@@ -51,7 +51,7 @@ class PlaidAccount::Investments::HoldingsProcessor
     end
 
     def holdings
-      plaid_account.raw_investments_payload&.[]("holdings") || []
+      plaid_account.raw_holdings_payload&.[]("holdings") || []
     end
 
     def parse_decimal(value)
diff --git a/app/models/plaid_account/investments/security_resolver.rb b/app/models/plaid_account/investments/security_resolver.rb
index a8f15b0ea..5d4fa1d98 100644
--- a/app/models/plaid_account/investments/security_resolver.rb
+++ b/app/models/plaid_account/investments/security_resolver.rb
@@ -43,7 +43,7 @@ class PlaidAccount::Investments::SecurityResolver
     Response = Struct.new(:security, :cash_equivalent?, :brokerage_cash?, keyword_init: true)
 
     def securities
-      plaid_account.raw_investments_payload["securities"] || []
+      plaid_account.raw_holdings_payload&.dig("securities") || []
     end
 
     # Tries to find security, or returns the "proxy security" (common with options contracts that have underlying securities)
diff --git a/app/models/plaid_account/investments/transactions_processor.rb b/app/models/plaid_account/investments/transactions_processor.rb
index 5cabccb2c..efce85118 100644
--- a/app/models/plaid_account/investments/transactions_processor.rb
+++ b/app/models/plaid_account/investments/transactions_processor.rb
@@ -98,7 +98,7 @@ class PlaidAccount::Investments::TransactionsProcessor
     end
 
     def transactions
-      plaid_account.raw_investments_payload["transactions"] || []
+      plaid_account.raw_holdings_payload&.dig("transactions") || []
     end
 
     # Plaid unfortunately returns incorrect signage on some `quantity` values. They claim all "sell" transactions
diff --git a/app/models/plaid_item/syncer.rb b/app/models/plaid_item/syncer.rb
index 58c2baccd..74d66a58b 100644
--- a/app/models/plaid_item/syncer.rb
+++ b/app/models/plaid_item/syncer.rb
@@ -61,7 +61,7 @@ class PlaidItem::Syncer
 
     def count_holdings(plaid_accounts)
       plaid_accounts.sum do |pa|
-        Array(pa.raw_investments_payload).size
+        pa.raw_holdings_payload&.dig("holdings")&.size || 0
       end
     end
 end
diff --git a/db/migrate/20260123214127_rename_raw_investments_payload_to_raw_holdings_payload.rb b/db/migrate/20260123214127_rename_raw_investments_payload_to_raw_holdings_payload.rb
new file mode 100644
index 000000000..80d64e953
--- /dev/null
+++ b/db/migrate/20260123214127_rename_raw_investments_payload_to_raw_holdings_payload.rb
@@ -0,0 +1,5 @@
+class RenameRawInvestmentsPayloadToRawHoldingsPayload < ActiveRecord::Migration[7.2]
+  def change
+    rename_column :plaid_accounts, :raw_investments_payload, :raw_holdings_payload
+  end
+end
diff --git a/db/schema.rb b/db/schema.rb
index ff964879f..84bf07e6f 100644
--- a/db/schema.rb
+++ b/db/schema.rb
@@ -10,7 +10,7 @@
 #
 # It's strongly recommended that you check this file into your version control system.
 
-ActiveRecord::Schema[7.2].define(version: 2026_01_23_000000) do
+ActiveRecord::Schema[7.2].define(version: 2026_01_23_214127) do
   # These are extensions that must be enabled in order to support this database
   enable_extension "pgcrypto"
   enable_extension "plpgsql"
@@ -943,7 +943,7 @@ ActiveRecord::Schema[7.2].define(version: 2026_01_23_000000) do
     t.datetime "updated_at", null: false
     t.jsonb "raw_payload", default: {}
     t.jsonb "raw_transactions_payload", default: {}
-    t.jsonb "raw_investments_payload", default: {}
+    t.jsonb "raw_holdings_payload", default: {}
     t.jsonb "raw_liabilities_payload", default: {}
     t.index ["plaid_id"], name: "index_plaid_accounts_on_plaid_id", unique: true
     t.index ["plaid_item_id"], name: "index_plaid_accounts_on_plaid_item_id"
diff --git a/lib/tasks/security_backfill.rake b/lib/tasks/security_backfill.rake
index 49dd08c6b..3b79ecc8f 100644
--- a/lib/tasks/security_backfill.rake
+++ b/lib/tasks/security_backfill.rake
@@ -52,7 +52,7 @@ namespace :security do
     results[:enable_banking_items] = backfill_model(EnableBankingItem, %i[client_certificate session_id raw_payload raw_institution_payload], batch_size, dry_run)
 
     # Provider accounts
-    results[:plaid_accounts] = backfill_model(PlaidAccount, %i[raw_payload raw_transactions_payload raw_investments_payload raw_liabilities_payload], batch_size, dry_run)
+    results[:plaid_accounts] = backfill_model(PlaidAccount, %i[raw_payload raw_transactions_payload raw_holdings_payload raw_liabilities_payload], batch_size, dry_run)
     results[:simplefin_accounts] = backfill_model(SimplefinAccount, %i[raw_payload raw_transactions_payload raw_holdings_payload], batch_size, dry_run)
     results[:lunchflow_accounts] = backfill_model(LunchflowAccount, %i[raw_payload raw_transactions_payload], batch_size, dry_run)
     results[:enable_banking_accounts] = backfill_model(EnableBankingAccount, %i[raw_payload raw_transactions_payload], batch_size, dry_run)
diff --git a/test/models/plaid_account/importer_test.rb b/test/models/plaid_account/importer_test.rb
index b1084cdb0..69fcf489d 100644
--- a/test/models/plaid_account/importer_test.rb
+++ b/test/models/plaid_account/importer_test.rb
@@ -38,7 +38,7 @@ class PlaidAccount::ImporterTest < ActiveSupport::TestCase
 
     @plaid_account.expects(:upsert_plaid_snapshot!).with(account_data)
     @plaid_account.expects(:upsert_plaid_transactions_snapshot!).with(transactions_data)
-    @plaid_account.expects(:upsert_plaid_investments_snapshot!).with(investments_data)
+    @plaid_account.expects(:upsert_plaid_holdings_snapshot!).with(investments_data)
     @plaid_account.expects(:upsert_plaid_liabilities_snapshot!).with(liabilities_data)
 
     PlaidAccount::Importer.new(@plaid_account, account_snapshot: @mock_account_snapshot).import
diff --git a/test/models/plaid_account/investments/balance_calculator_test.rb b/test/models/plaid_account/investments/balance_calculator_test.rb
index c4cd5d10c..0755f22c1 100644
--- a/test/models/plaid_account/investments/balance_calculator_test.rb
+++ b/test/models/plaid_account/investments/balance_calculator_test.rb
@@ -67,7 +67,7 @@ class PlaidAccount::Investments::BalanceCalculatorTest < ActiveSupport::TestCase
       ]
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments)
+    @plaid_account.update!(raw_holdings_payload: test_investments)
 
     security_resolver = PlaidAccount::Investments::SecurityResolver.new(@plaid_account)
     balance_calculator = PlaidAccount::Investments::BalanceCalculator.new(@plaid_account, security_resolver: security_resolver)
diff --git a/test/models/plaid_account/investments/holdings_processor_test.rb b/test/models/plaid_account/investments/holdings_processor_test.rb
index 169784ae9..01194cccf 100644
--- a/test/models/plaid_account/investments/holdings_processor_test.rb
+++ b/test/models/plaid_account/investments/holdings_processor_test.rb
@@ -27,7 +27,7 @@ class PlaidAccount::Investments::HoldingsProcessorTest < ActiveSupport::TestCase
       transactions: [] # not relevant for test
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     @security_resolver.expects(:resolve)
                       .with(plaid_security_id: "123")
@@ -125,7 +125,7 @@ class PlaidAccount::Investments::HoldingsProcessorTest < ActiveSupport::TestCase
       transactions: []
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     # Mock security resolver for all three securities
     @security_resolver.expects(:resolve)
@@ -175,7 +175,7 @@ class PlaidAccount::Investments::HoldingsProcessorTest < ActiveSupport::TestCase
       transactions: []
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     # First security fails to resolve
     @security_resolver.expects(:resolve)
@@ -213,7 +213,7 @@ class PlaidAccount::Investments::HoldingsProcessorTest < ActiveSupport::TestCase
       transactions: []
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     @security_resolver.expects(:resolve)
                       .with(plaid_security_id: "string_values")
@@ -264,7 +264,7 @@ class PlaidAccount::Investments::HoldingsProcessorTest < ActiveSupport::TestCase
       transactions: []
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     @security_resolver.expects(:resolve)
                       .with(plaid_security_id: "missing_quantity")
@@ -310,7 +310,7 @@ class PlaidAccount::Investments::HoldingsProcessorTest < ActiveSupport::TestCase
       transactions: []
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     @security_resolver.expects(:resolve)
                       .with(plaid_security_id: "no_currency")
diff --git a/test/models/plaid_account/investments/security_resolver_test.rb b/test/models/plaid_account/investments/security_resolver_test.rb
index a32430c6f..cde26bd3b 100644
--- a/test/models/plaid_account/investments/security_resolver_test.rb
+++ b/test/models/plaid_account/investments/security_resolver_test.rb
@@ -11,7 +11,7 @@ class PlaidAccount::Investments::SecurityResolverTest < ActiveSupport::TestCase
     missing_id = "missing_security_id"
 
     # Ensure there are *no* securities that reference the missing ID
-    @plaid_account.update!(raw_investments_payload: {
+    @plaid_account.update!(raw_holdings_payload: {
       securities: [
         {
           "security_id" => "some_other_id",
@@ -35,7 +35,7 @@ class PlaidAccount::Investments::SecurityResolverTest < ActiveSupport::TestCase
   test "identifies brokerage cash plaid securities" do
     brokerage_cash_id = "brokerage_cash_security_id"
 
-    @plaid_account.update!(raw_investments_payload: {
+    @plaid_account.update!(raw_holdings_payload: {
       securities: [
         {
           "security_id" => brokerage_cash_id,
@@ -58,7 +58,7 @@ class PlaidAccount::Investments::SecurityResolverTest < ActiveSupport::TestCase
   test "identifies cash equivalent plaid securities" do
     mmf_security_id = "money_market_security_id"
 
-    @plaid_account.update!(raw_investments_payload: {
+    @plaid_account.update!(raw_holdings_payload: {
       securities: [
         {
           "security_id" => mmf_security_id,
@@ -87,7 +87,7 @@ class PlaidAccount::Investments::SecurityResolverTest < ActiveSupport::TestCase
   test "resolves normal plaid securities" do
     security_id = "regular_security_id"
 
-    @plaid_account.update!(raw_investments_payload: {
+    @plaid_account.update!(raw_holdings_payload: {
       securities: [
         {
           "security_id" => security_id,
diff --git a/test/models/plaid_account/investments/transactions_processor_test.rb b/test/models/plaid_account/investments/transactions_processor_test.rb
index be589c513..648d22cf4 100644
--- a/test/models/plaid_account/investments/transactions_processor_test.rb
+++ b/test/models/plaid_account/investments/transactions_processor_test.rb
@@ -23,7 +23,7 @@ class PlaidAccount::Investments::TransactionsProcessorTest < ActiveSupport::Test
       ]
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     @security_resolver.stubs(:resolve).returns(OpenStruct.new(
       security: securities(:aapl)
@@ -58,7 +58,7 @@ class PlaidAccount::Investments::TransactionsProcessorTest < ActiveSupport::Test
       ]
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     @security_resolver.expects(:resolve).never # Cash transactions don't have a security
 
@@ -91,7 +91,7 @@ class PlaidAccount::Investments::TransactionsProcessorTest < ActiveSupport::Test
       ]
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     @security_resolver.expects(:resolve).never # Cash transactions don't have a security
 
@@ -127,7 +127,7 @@ class PlaidAccount::Investments::TransactionsProcessorTest < ActiveSupport::Test
       ]
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     @security_resolver.expects(:resolve).returns(OpenStruct.new(
       security: securities(:aapl)
@@ -163,7 +163,7 @@ class PlaidAccount::Investments::TransactionsProcessorTest < ActiveSupport::Test
       ]
     }
 
-    @plaid_account.update!(raw_investments_payload: test_investments_payload)
+    @plaid_account.update!(raw_holdings_payload: test_investments_payload)
 
     @security_resolver.expects(:resolve).never