Viking Global Investors 13F, Q4 2025
Andreas Halvorsen · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 1103804
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
The 25 largest of 76 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| MICROSOFT CORP | MSFT | $1.56B | 4.1% | +32% shares |
| PNC FINL SVCS GROUP INC | PNC | $1.52B | 4.0% | -8% shares |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $1.49B | 4.0% | +25% shares |
| VISA INC | V | $1.40B | 3.7% | +38% shares |
| SCHWAB CHARLES CORP | SCHW | $1.39B | 3.7% | -16% shares |
| DISNEY WALT CO | DIS | $1.27B | 3.4% | +7% shares |
| AIR PRODS & CHEMS INC | APD | $1.18B | 3.1% | +30% shares |
| MCDONALDS CORP | MCD | $1.11B | 2.9% | +7% shares |
| BRIDGEBIO PHARMA INC | BBIO | $1.10B | 2.9% | -10% shares |
| FORTIVE CORP | FTV | $1.06B | 2.8% | -6% shares |
| SHERWIN WILLIAMS CO | SHW | $1.03B | 2.7% | +10% shares |
| BOEING CO | BA | $858.29M | 2.3% | +31% shares |
| ALPHABET INC | GOOGL | $834.54M | 2.2% | new |
| ADVANCED MICRO DEVICES INC | AMD | $801.43M | 2.1% | -11% shares |
| INTERCONTINENTAL EXCHANGE IN | ICE | $777.93M | 2.1% | new |
| TESLA INC | TSLA | $764.41M | 2.0% | +6% shares |
| T-MOBILE US INC | TMUS | $762.26M | 2.0% | +15% shares |
| AMAZON COM INC | AMZN | $721.73M | 1.9% | new |
| CAPITAL ONE FINL CORP | COF | $715.52M | 1.9% | -60% shares |
| JOHNSON CTLS INTL PLC | $708.77M | 1.9% | -13% shares | |
| DRAFTKINGS INC NEW | DKNG | $658.87M | 1.8% | +27% shares |
| JPMORGAN CHASE & CO. | JPM | $614.15M | 1.6% | -62% shares |
| ROSS STORES INC | ROST | $570.59M | 1.5% | +57% shares |
| GENERAL MTRS CO | GM | $553.47M | 1.5% | -48% shares |
| MID-AMER APT CMNTYS INC | MAA | $538.98M | 1.4% | +47% shares |
What changed since Q3 2025
Against the Q3 2025 filing, Viking Global Investors opened 21 new positions, added to 17, trimmed 27, left 11 unchanged and exited 23. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- GOOGL$834.54M
- ICE$777.93M
- AMZN$721.73M
- DKS$509.37M
- TMO$459.61M
- STELLANTIS N.V$434.32M
- CCL1EUR$429.45M
- UNH$395.23M
and 13 more
Exited
- BLKwas $722.25M
- PMwas $717.92M
- METAwas $682.24M
- NKEwas $627.33M
- NFLXwas $600.43M
- CORwas $555.72M
- DHRwas $545.46M
- PRMBwas $509.05M
and 15 more
Other quarters
Source: SEC Form 13F-HR, accession 0001103804-26-000002, 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.