WhaleCreep

Viking Global Investors LP 13F holdings, Q4 2025

Hedge fundSEC filingsCompare with another fundHoldings as of 2025-12-31, filed 2026-02-17

Viking Global Investors LP disclosed 76 US equity positions worth $37.7bn in its Q4 2025 13F filing. Its largest position is MSFT at 4.1% of the reported book, followed by PNC and TSM. Versus Q3 2025 it opened 21 new positions, added to 17, reduced 28 and exited 23.

$37.7bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
76
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
4.1%
Largest position
The largest single position as a share of the reported equity book.
34.7%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
46
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
100
Quarters on file since Q4 1999
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2025: 21 new, 17 added, 28 reduced, 23 exited

50 of 76
MSFT MICROSOFT CORPTechnology4.1%$1.6bn3.22m+32%added
PNC PNC FINL SVCS GROUP INCFinancial Services4.0%$1.5bn7.29m−8.4%reduced
TSM TAIWAN SEMICONDUCTOR MANUFACTechnology4.0%$1.5bn4.91m+25%added
V VISA INCFinancial Services3.7%$1.4bn3.98m+38%added
SCHW SCHWAB CHARLES CORPFinancial Services3.7%$1.4bn13.87m−16%reduced
DIS DISNEY WALT COCommunication Services3.4%$1.3bn11.19m+7.1%added
APD AIR PRODUCTS AND CHEMICALS IBasic Materials3.1%$1.2bn4.78m+30%added
MCD MCDONALDS CORPConsumer Cyclical2.9%$1.1bn3.62m+7.2%added
BBIO BRIDGEBIO PHARMA INCHealthcare2.9%$1.1bn14.39m−9.9%reduced
FTV FORTIVE CORPTechnology2.8%$1.1bn19.23m−6.1%reduced
SHW SHERWIN WILLIAMS COBasic Materials2.7%$1.0bn3.17m+10%added
BA BOEING COIndustrials2.3%$858m3.95m+31%added
GOOGL ALPHABET INCCommunication Services2.2%$835m2.67m–new
AMD ADVANCED MICRO DEVICES INCTechnology2.1%$801m3.74m−11%reduced
ICE INTERCONTINENTAL EXCHANGE INFinancial Services2.1%$778m4.80m–new
TSLA TESLA INCConsumer Cyclical2.0%$764m1.70m+5.6%added
TMUS T-MOBILE US INCCommunication Services2.0%$762m3.75m+15%added
AMZN AMAZON COM INCConsumer Cyclical1.9%$722m3.13m–new
COF CAPITAL ONE FINL CORPFinancial Services1.9%$716m2.95m−60%reduced
JCI JOHNSON CONTROLS INTERNATIONIndustrials1.9%$709m5.92m−13%reduced
DKNG DRAFTKINGS INC NEWConsumer Cyclical1.7%$659m19.12m+27%added
JPM JPMORGAN CHASE & COFinancial Services1.6%$614m1.91m−62%reduced
ROST ROSS STORES INCConsumer Cyclical1.5%$571m3.17m+57%added
GM General Motors CorpConsumer Cyclical1.5%$553m6.81m−48%reduced
MAA MID-AMER APT CMNTYS INCReal Estate1.4%$539m3.88m+47%added
CPT CAMDEN PPTY TRReal Estate1.4%$524m4.76m+24%added
DKS DICKS SPORTING GOODS INCConsumer Cyclical1.4%$509m2.57m–new
CLS CELESTICA INCTechnology1.3%$502m1.70m−1.4%reduced
CSX CSX CORPIndustrials1.3%$501m13.82m−13%reduced
ADPT ADAPTIVE BIOTECHNOLOGIES CORHealthcare1.3%$487m29.99m0.0%held
SE SEA LTDConsumer Cyclical1.2%$468m3.67m+21%added
HCA HCA HEALTHCARE INCHealthcare1.2%$466m999,180−28%reduced
TMO THERMO FISHER SCIENTIFIC INCHealthcare1.2%$460m793,187–new
RRX REGAL REXNORD CORPORATIONIndustrials1.2%$452m3.22m+3.2%added
CVNA CARVANA COConsumer Cyclical1.2%$448m1.06m−49%reduced
CHWY CHEWY INCConsumer Cyclical1.2%$447m13.54m+147%added
APG API GROUP CORPIndustrials1.2%$441m11.54m−6.2%reduced
STLA STELLANTIS N.VConsumer Cyclical1.2%$434m39.06m–new
CCL CARNIVAL CORPConsumer Cyclical1.1%$429m14.06m–new
UBS UBS GROUP AGFinancial Services1.1%$426m9.13m−30%reduced
UNH UNITEDHEALTH GROUP INCHealthcare1.0%$395m1.20m–new
BMRN BIOMARIN PHARMACEUTICAL INCHealthcare1.0%$359m6.04m−27%reduced
SAIA SAIA INCIndustrials0.9%$355m1.09m−21%reduced
TIC TIC SOLUTIONS INCIndustrials0.9%$347m34.36m0.0%held
CB CHUBB LIMITEDFinancial Services0.8%$316m1.01m–new
PGR PROGRESSIVE CORPFinancial Services0.8%$303m1.33m–new
LII LENNOX INTL INCIndustrials0.8%$302m621,311–new
TW TRADEWEB MKTS INCFinancial Services0.8%$298m2.77m–new
MDLN MEDLINE INCHealthcare0.8%$292m6.96m–new
AON AON PLCFinancial Services0.7%$277m783,650−45%reduced

Exited since Q3 2025

23 rows
BLK BLACKROCK INC1.9%$722m
PM PHILIP MORRIS INTL INC1.9%$718m
META META PLATFORMS INC1.8%$682m
NKE NIKE INC1.6%$627m
NFLX NETFLIX INC.1.6%$600m
COR CENCORA INC1.4%$556m
DHR DANAHER CORP DEL1.4%$545m
PRMB PRIMO BRANDS CORPORATION1.3%$509m
KKR KKR & CO INC0.9%$352m
CMG CHIPOTLE MEXICAN GRILL INC0.7%$260m
EW EDWARDS LIFESCIENCES CORP0.6%$239m
DEUTSCHE BK AG no ticker0.6%$215m
CBRE CBRE GROUP INC0.5%$191m
INTU INTUIT0.5%$180m
DECK DECKERS OUTDOOR CORP0.5%$175m
FSLR FIRST SOLAR INC0.4%$169m
APP APPLOVIN CORP0.3%$117m
RYAN RYAN SPECIALTY HOLDINGS INC0.3%$109m
ITGR INTEGER HLDGS CORP0.3%$106m
TEVA TEVA PHARMACEUTICAL INDS LTD0.1%$51.1m
STUB STUBHUB HLDGS INC0.09%$34.4m
CART MAPLEBEAR INC0.08%$30.6m
ESTA ESTABLISHMENT LABS HLDGS INC0.04%$14.1m

Sector mix

  • Financial Services23.6%
  • Consumer Cyclical19.9%
  • Technology15.4%
  • Healthcare12.8%
  • Industrials10.5%
  • Communication Services7.6%
  • Basic Materials5.9%
  • Real Estate3.7%
  • Unclassified0.6%

Book over time

Every quarter on file (100)
QuarterPositionsEquity book
Q2 202690$35.1bn
Q1 202677$35.7bn
Q4 202576$37.7bn
Q3 202578$38.5bn
Q2 202583$34.6bn
Q1 202591$31.5bn
Q4 202486$30.9bn
Q3 202483$27.4bn
Q2 202482$26.0bn
Q1 202483$26.9bn
Q4 202379$27.3bn
Q3 202380$24.6bn
Q2 202385$24.4bn
Q1 202380$21.3bn
Q4 202275$20.0bn
Q3 202287$21.7bn
Q2 202281$21.9bn
Q1 202290$24.7bn
Q4 2021106$34.7bn
Q3 202196$36.5bn
Q2 202188$33.0bn
Q1 202194$33.6bn
Q4 202096$36.4bn
Q3 202086$27.7bn
Q2 202072$23.1bn
Q1 202064$19.2bn
Q4 201966$21.4bn
Q3 201962$19.2bn
Q2 201959$22.3bn
Q1 201957$17.4bn
Q4 201857$17.6bn
Q3 201864$18.1bn
Q2 201860$17.5bn
Q1 201859$16.6bn
Q4 201759$16.3bn
Q3 201759$15.4bn
Q2 201753$14.8bn
Q1 201764$22.6bn
Q4 201662$22.0bn
Q3 201662$23.2bn
Q2 201655$23.5bn
Q1 201663$22.7bn
Q4 201564$26.5bn
Q3 201563$26.1bn
Q2 201556$26.5bn
Q1 201558$25.8bn
Q4 201462$21.8bn
Q3 201459$24.9bn
Q2 201462$22.9bn
Q1 201460$23.8bn
Q4 201365$21.4bn
Q3 201359$18.1bn
Q2 201359$18.0bn
Q1 201348$13.2bn
Q4 201245$11.5bn
Q3 201250$11.5bn
Q2 201246$9.8bn
Q1 201254$9.0bn
Q4 201143$8.0bn
Q3 201153$8.6bn
Q2 201158$11.9bn
Q1 201161$11.6bn
Q4 201073$12.1bn
Q3 201060$9.2bn
Q1 201057$8.9bn
Q4 200963$8.8bn
Q3 200954$7.8bn
Q2 200948$5.8bn
Q1 200933$3.6bn
Q4 200826$3.5bn
Q3 200850$3.5bn
Q2 200843$5.1bn
Q1 200839$4.6bn
Q4 200769$4.8bn
Q3 200766$3.9bn
Q2 200776$4.4bn
Q1 200794$4.3bn
Q4 200698$3.8bn
Q3 2006105$4.1bn
Q2 200697$4.0bn
Q1 2006114$4.0bn
Q4 2005105$3.2bn
Q3 200594$3.2bn
Q2 200595$2.7bn
Q1 200564$2.0bn
Q4 200441$1.8bn
Q3 200453$1.8bn
Q2 200475$2.2bn
Q1 200479$2.1bn
Q4 200365$1.5bn
Q3 200365$1.6bn
Q2 200373$1.6bn
Q1 200379$1.9bn
Q4 200275$1.7bn
Q1 200143$1.2bn
Q4 200037$1.1bn
Q3 200038$1.3bn
Q2 200034$730m
Q1 200028$422m
Q4 199921$156m

Where Viking Global Investors LP was early

184 rows
EAT D BRINKER INTL INC USD .10Q1 20001 of 1332.3%2.9%2Exited by Q3 2000−1.4%
RCI ROGERS COMMUNICATIONS INCQ1 20001 of 853.4%3.4%10Exited by Q4 2024+170%
WFC WELLS FARGO CO NEWQ1 20002 of 2121.8%4.6%13Exited by Q2 2018+157%
BMY BRISTOL-MYERS SQUIBB COQ1 20005 of 1971.3%2.8%11Exited by Q1 2022+15%
AZO AUTOZONE INCQ2 20001 of 1653.6%3.6%5Exited by Q1 2013+1510%
MET METLIFE INCQ2 20001 of 1261.5%4.1%29Exited by Q2 2025+330%
GAP Gap IncQ3 20001 of 1581.0%4.4%8Exited by Q3 2006−13%
VZ VERIZON COMMUNICATIONS INCQ3 20001 of 1800.5%2.7%6Exited by Q4 2017+14%
TGT Target CorpQ3 20003 of 1911.1%1.5%4Exited by Q2 2006+103%
BBY Best BuyQ1 20015 of 1330.9%4.1%8Exited by Q2 2007+205%
VRTX VERTEX PHARMACEUTICALS INCQ1 20031 of 1600.4%1.1%9Exited by Q1 2016+1030%
BAC BANK AMERICA CORPQ1 20033 of 2320.2%6.3%27Exited by Q1 2026+65%
COF CAPITAL ONE FINL CORPQ1 20033 of 2271.6%6.9%25Held at last filing, Q2 2026+569%
GS GOLDMAN SACHS GROUP INCQ1 20038 of 2290.4%4.0%8Exited by Q2 2013+116%
EG EVEREST GROUP LTDQ2 20031 of 1151.9%2.6%9Exited by Q1 2024+362%
HAS HASBRO INCQ2 20031 of 1350.7%2.7%8Held at last filing, Q2 2026+372%
HIG HARTFORD FINL SVCS GROUP INCQ2 20031 of 1241.1%2.9%19Exited by Q2 2021+33%
EBAY EBAY INCQ2 20033 of 1865.8%12.0%7Exited by Q4 2015+123%
MHK MOHAWK INDS INCQ2 20033 of 1730.2%3.2%17Exited by Q1 2018+397%
INTC D Intel CorpQ2 20034 of 2801.2%2.3%4Exited by Q2 2004+31%
BMRN BIOMARIN PHARMACEUTICAL INCQ2 200317 of 1660.1%2.7%35Held at last filing, Q2 2026+486%
ALXN ALEXION PHARMACEUTICALS INCQ3 20031 of 1472.2%6.6%16Exited by Q3 2015–
BIIB BIOGEN INCQ4 20031 of 1835.2%5.3%21Exited by Q2 2017+645%
ALL ALLSTATE CORPQ4 20032 of 1281.2%1.9%17Exited by Q2 2025+381%
CCL CARNIVAL CORP LTDQ1 20041 of 2111.2%6.9%15Held at last filing, Q2 2026−36%
WMT WAL-MART STORES INCQ1 20041 of 2010.4%1.9%6Exited by Q1 2015+44%
KR Kroger CoQ2 20042 of 1600.04%7.9%5Exited by Q1 2009+45%
MU MICRON TECHNOLOGY INCQ2 20047 of 3200.5%3.6%21Exited by Q3 2023+312%
JPM JPMORGAN CHASE & COQ2 200410 of 2310.7%5.8%29Held at last filing, Q2 2026+744%
PNC PNC FINL SVCS GROUP INCQ3 20043 of 1530.01%4.2%10Exited by Q2 2026+285%
TU Telus CorpQ4 20041 of 671.4%1.4%4Exited by Q3 2006+40%
WSM Williams-Sonoma IncQ4 20041 of 1430.6%3.0%3Exited by Q3 2005+13%
KSS Kohls CorpQ4 20042 of 1667.8%7.8%9Exited by Q4 2007+17%
EXMOC Exxon Mobil CorpQ4 20049 of 1930.7%2.0%5Exited by Q2 2011+64%
LEN LENNAR CORPQ1 20054 of 1991.3%3.8%19Exited by Q3 2025+105%
AIZ ASSURANT INCQ1 20055 of 1110.6%2.7%17Exited by Q1 2022+362%
PHM PULTE GROUP INCQ1 20055 of 1501.7%1.7%5Exited by Q1 2022+55%
NDAQ NASDAQ Stock MarketQ2 20051 of 1281.2%3.0%5Exited by Q4 2006+60%
ORCL Oracle CorporationQ2 20053 of 2564.9%4.9%6Exited by Q4 2010+103%
TMO THERMO FISHER SCIENTIFIC INCQ2 20056 of 2340.4%5.4%41Held at last filing, Q2 2026+1766%
OLN OLIN CORPQ2 200514 of 1600.3%1.0%3Exited by Q4 2018+41%
NUS NU SKIN ENTERPRISES INCQ3 20052 of 950.9%1.4%3Exited by Q1 2014+626%
OXY OCCIDENTAL PETE CORP DELQ3 20052 of 1920.3%1.0%5Exited by Q1 2012+119%
UHS UNIVERSAL HLTH SVCS INCQ4 20051 of 1380.1%2.0%27Exited by Q1 2018+385%
HST HOST HOTELS & RESORTS INCQ4 20052 of 1270.02%1.7%5Exited by Q3 2012−15%
VYX NCR CorporationQ4 20052 of 1962.7%7.9%8Exited by Q4 2007+47%
ADP Automatic Data ProcessingQ4 20054 of 1483.7%4.8%5Exited by Q2 2007+5.5%
REGN REGENERON PHARMACEUTICALSQ4 20055 of 1710.3%3.7%7Exited by Q2 2025+3889%
FNF Fidelity National Finl IncQ1 20061 of 1560.3%2.0%6Exited by Q3 2007+4.1%
LYV Live NationQ1 20061 of 2161.0%1.0%4Exited by Q1 2007+13%

Concentration and tenure

7.7%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
49.1%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
2
Median completed holding, quarters