Viking Global Investors 13F, Q3 2025
Andreas Halvorsen · quarter ending 30 September 2025 · filed 14 November 2025 · SEC CIK 1103804
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 78 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| PNC FINL SVCS GROUP INC | PNC | $1.60B | 4.2% | +235% shares |
| JPMORGAN CHASE & CO. | JPM | $1.60B | 4.1% | +25% shares |
| SCHWAB CHARLES CORP | SCHW | $1.58B | 4.1% | +5% shares |
| CAPITAL ONE FINL CORP | COF | $1.57B | 4.1% | +30% shares |
| MICROSOFT CORP | MSFT | $1.26B | 3.3% | new |
| DISNEY WALT CO | DIS | $1.20B | 3.1% | +79% shares |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $1.10B | 2.9% | -9% shares |
| MCDONALDS CORP | MCD | $1.03B | 2.7% | +8% shares |
| FORTIVE CORP | FTV | $1.00B | 2.6% | +29% shares |
| AIR PRODS & CHEMS INC | APD | $1.00B | 2.6% | +70% shares |
| SHERWIN WILLIAMS CO | SHW | $997.61M | 2.6% | +47% shares |
| VISA INC | V | $988.99M | 2.6% | +79% shares |
| BRIDGEBIO PHARMA INC | BBIO | $829.89M | 2.2% | -14% shares |
| GENERAL MTRS CO | GM | $794.26M | 2.1% | unchanged |
| CARVANA CO | CVNA | $792.67M | 2.1% | +95% shares |
| T-MOBILE US INC | TMUS | $780.97M | 2.0% | +15% shares |
| JOHNSON CTLS INTL PLC | $747.32M | 1.9% | +369% shares | |
| BLACKROCK INC | BLK | $722.25M | 1.9% | +218% shares |
| PHILIP MORRIS INTL INC | PM | $717.92M | 1.9% | +28% shares |
| TESLA INC | TSLA | $715.92M | 1.9% | +46% shares |
| META PLATFORMS INC | META | $682.24M | 1.8% | +250% shares |
| ADVANCED MICRO DEVICES INC | AMD | $676.49M | 1.8% | +119% shares |
| BOEING CO | BA | $649.77M | 1.7% | +6% shares |
| NIKE INC | NKE | $627.33M | 1.6% | +29% shares |
| NETFLIX INC | NFLX | $600.43M | 1.6% | new |
What changed since Q2 2025
Against the Q2 2025 filing, Viking Global Investors opened 15 new positions, added to 31, trimmed 21, left 11 unchanged and exited 20. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 7 more
Exited
- USBwas $1.09B
- AMZNwas $854.98M
- FLUTTER ENTMT PLCwas $652.93M
- AMTwas $618.22M
- NVDAwas $581.71M
- QCOMwas $502.13M
- CCL1EURwas $371.39M
- XYZwas $368.21M
and 12 more
Other quarters
Source: SEC Form 13F-HR, accession 0001103804-25-000010, filed by VIKING GLOBAL INVESTORS LP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.