Viking Fund Management LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 15, 2024), Viking Fund Management LLC reported 123 stock positions worth $552.6 million. Its top holding was Broadcom (AVGO) at 4.4% of the portfolio, followed by Abbvie (ABBV, 4.4%) and Nextera Energy (NEE, 3.2%). Compared with Q4 2023, it opened 11 new positions, sold out of 6, added to 42 and reduced 28. The biggest buy was a new position in Xcel Energy (XEL) and the biggest sale an exit from Pioneer Natural Resources (PXD).

Most Recent 13F
Q2 2026
Location
MINOT, ND
CIK
0001169069
Portfolio Value
$552.6M (Q1 2024)
SEC Filing
0001169069-24-000004 ↗ filed Apr 15, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $552.6M $552.6M Q1 2024 Q2 2024: $558.5M Q2 2024 Q3 2024: $615.5M Q3 2024 Q4 2024: $642.3M Q4 2024 Q1 2025: $693.6M Q1 2025 Q2 2025: $728.0M Q2 2025 Q3 2025: $827.4M Q3 2025 Q4 2025: $862.8M Q4 2025 Q1 2026: $975.6M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 123 stocks · $552.6M
AVGO Broadcom Inc. 4.39% 18,310 $24.3M Reduce -15.7%
ABBV Abbvie Inc. 4.39% 133,250 $24.3M Reduce -6.3%
NEE Nextera Energy Inc. 3.24% 280,000 $17.9M Add +17.6%
QCOM Qualcomm Inc. 2.73% 89,000 $15.1M Reduce -9.2%
BLK BlackRock Finance Inc. 2.41% 16,000 $13.3M No change
ETR Entergy Corp. 2.40% 125,600 $13.3M Add +6.3%
AEP American Electric Power 2.40% 154,000 $13.3M Add +16.7%
FANG Diamondback Energy Inc. 2.34% 65,320 $12.9M Reduce -12.0%
JPM JPMorgan Chase & Co. 2.32% 64,000 $12.8M Reduce -4.5%
MS Morgan Stanley 2.22% 130,150 $12.3M No change
ENB Enbridge Inc. 2.15% 329,000 $11.9M Add +2.5%
DVN Devon Energy Corp. 1.93% 213,000 $10.7M Add +29.1%
XOM Exxon Mobil Corp. 1.89% 90,000 $10.5M Add +28.6%
PRU Prudential Financial Inc. 1.79% 84,330 $9.9M Reduce -4.5%
KMB Kimberly-Clark Corp. 1.76% 75,000 $9.7M Reduce -1.3%
MRK Merck & Co. Inc. 1.74% 73,000 $9.6M Reduce -9.9%
PEP Pepsico Inc. 1.74% 55,000 $9.6M Reduce -9.8%
TRGP Targa Resources Corp. 1.72% 85,000 $9.5M Reduce -29.2%
LNG Cheniere Energy Inc. 1.72% 59,000 $9.5M Reduce -6.3%
PM Philip Morris International 1.51% 91,330 $8.4M Add +1.1%
TXN Texas Instruments Inc. 1.48% 47,000 $8.2M No change
HD Home Depot Inc. 1.46% 21,000 $8.1M No change
TGT Target Corp. 1.44% 45,000 $8.0M Reduce -23.7%
MO Altria Group Inc. 1.42% 180,250 $7.9M Add +2.1%
PFE Pfizer Inc. 1.38% 275,000 $7.6M Add +27.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.37% 200,000 $7.6M Reduce -13.0%
VZ Verizon Communications Inc. 1.23% 161,600 $6.8M Add +22.1%
APD Air Products & Chemicals Inc. 1.18% 27,000 $6.5M Add +35.0%
NVDA Nvidia Corp. 1.14% 7,000 $6.3M Reduce -12.5%
TRP TC Energy Corp. 1.10% 151,400 $6.1M Add +4.4%
KVUE Kenvue Inc. 1.09% 280,000 $6.0M Add +16.2%
BMY Bristol-Myers Squibb Co. 1.01% 102,700 $5.6M Add +2.7%
XEL Xcel Energy Inc. 1.00% 102,400 $5.5M New
BTI British American Tob-SP ADR 0.99% 179,500 $5.5M Add +1.5%
TS Tenaris SA-ADR 0.96% 135,000 $5.3M No change
PR Permian Resources Corp. Class A 0.96% 300,000 $5.3M Reduce -3.2%
TPL Texas Pacific Land Corp. 0.94% 9,000 $5.2M Add +25.0%
BCE Bce Inc. 0.93% 151,700 $5.2M Add +12.4%
MRO Marathon Oil Corp. 0.92% 180,000 $5.1M Add +12.5%
SHEL Shell PLC-ADR 0.85% 70,000 $4.7M No change
SWKS Skyworks Solutions Inc. 0.78% 40,000 $4.3M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.76% 22,100 $4.2M No change
KLAC KLA Corp. 0.76% 6,000 $4.2M No change
V Visa Inc. Class A 0.76% 15,000 $4.2M No change
UPS United Parcel Service Class B 0.73% 27,000 $4.0M Add +12.5%
AAPL Apple Inc. 0.71% 23,000 $3.9M Add +15.0%
PSX Phillips 66 0.71% 24,000 $3.9M Reduce -33.3%
OVV Ovintiv Inc. 0.70% 75,000 $3.9M Add +25.0%
LRCX Lam Research Corp. 0.70% 4,000 $3.9M Reduce -42.9%
ITW Illinois Tool Works 0.68% 14,000 $3.8M No change
BKR Baker Hughes Co. 0.68% 112,000 $3.8M Add +273.3%
ORI Old Republic Intl Corp. 0.67% 120,000 $3.7M Add +9.1%
CVX Chevron Corp. 0.63% 22,000 $3.5M Add +46.7%
MA Mastercard Inc. Class A 0.61% 7,000 $3.4M No change
TT Trane Technologies PLC 0.60% 11,000 $3.3M No change
INTU Intuit Inc. 0.59% 5,000 $3.3M No change
RIO Rio Tinto PLC-Spon ADR 0.58% 50,700 $3.2M Add +14385.7%
PBA Pembina Pipeline Corp. 0.58% 91,400 $3.2M Add +0.9%
AES AES Corp. 0.58% 178,000 $3.2M Add +1.7%
LMT Lockheed Martin Corp. 0.58% 7,000 $3.2M No change
VLO Valero Energy Corp. 0.56% 18,000 $3.1M Reduce -40.0%
AMD Advanced Micro Devices 0.56% 17,000 $3.1M No change
KO The Coca-Cola Co. 0.55% 50,000 $3.1M No change
SBUX Starbucks Corp. 0.55% 33,000 $3.0M Add +50.0%
PG The Procter & Gamble Co. 0.53% 18,000 $2.9M Reduce -14.3%
TMO Thermo Fisher Scientific Inc. 0.53% 5,000 $2.9M No change
CVS CVS Health Corp. 0.51% 35,000 $2.8M No change
WM Waste Management Inc. 0.50% 13,000 $2.8M No change
HAL Halliburton Co. 0.50% 70,000 $2.8M Reduce -37.5%
ENPH Enphase Energy Inc. 0.48% 22,000 $2.7M No change
CMS CMS Energy Corp. 0.48% 44,000 $2.7M New
GPC Genuine Parts Co. 0.48% 17,000 $2.6M No change
LOW Lowe's Cos Inc. 0.46% 10,000 $2.5M No change
ARRY Array Technologies Inc. 0.46% 170,000 $2.5M No change
MSFT Microsoft Corp. 0.46% 6,000 $2.5M No change
ALL Allstate Corp. 0.44% 14,000 $2.4M Reduce -44.0%
EOG EOG Resources Inc. 0.42% 18,000 $2.3M Reduce -55.0%
EXC Exelon Corp. 0.41% 60,500 $2.3M Add +72.9%
EE Excelerate Energy Inc. Class A 0.41% 140,000 $2.2M Add +40.0%
SPGI S&P Global Inc. 0.39% 5,000 $2.1M No change
DE Deere & Co. 0.37% 5,000 $2.1M Add +25.0%
FDX FedEx Corp. 0.37% 7,000 $2.0M No change
SM SM Energy Co. 0.36% 40,000 $2.0M No change
AMGN Amgen Inc. 0.36% 7,000 $2.0M No change
UNH Unitedhealth Group Inc. 0.36% 4,000 $2.0M No change
CTRA Coterra Energy Inc. 0.35% 70,000 $2.0M Add +27.3%
EW Edwards Lifesciences Corp. 0.35% 20,000 $1.9M No change
DAR Darling Ingredients Inc. 0.33% 39,000 $1.8M No change
SHLS Shoals Technologies Group -A 0.32% 160,000 $1.8M Add +33.3%
WHD Cactus Inc. Class A 0.32% 35,000 $1.8M Reduce -41.7%
CSCO Cisco Systems Inc. 0.32% 35,000 $1.7M No change
AR Antero Resources Corp. 0.31% 60,000 $1.7M Reduce -29.4%
MCD McDonald's Corp. 0.31% 6,000 $1.7M No change
PNC PNC Financial Services Group 0.30% 10,200 $1.6M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.30% 30,000 $1.6M New
CAT Caterpillar Inc. 0.27% 4,000 $1.5M Reduce -11.1%
WEC WEC Energy Group Inc. 0.25% 17,000 $1.4M Reduce -74.6%
T AT&T Inc. 0.24% 75,000 $1.3M Add +15.4%
MUSA Murphy USA Inc. 0.23% 3,000 $1.3M New
PTEN Patterson-Uti Energy Inc. 0.22% 100,000 $1.2M Reduce -72.2%
GNRC Generac Holdings Inc. 0.21% 9,000 $1.1M No change
NEM Newmont Corp. 0.19% 30,000 $1.1M New
TSLA Tesla Inc. 0.19% 6,000 $1.1M New
KMI Kinder Morgan Inc. 0.17% 50,000 $917K No change
FSLR First Solar Inc. 0.14% 4,500 $760K New
BBY Best Buy Co. Inc. 0.03% 2,000 $164K Add +900.0%
SNY Sanofi-ADR 0.02% 2,200 $107K New
USB US Bancorp 0.01% 1,840 $82K Add +666.7%
CHRD Chord Energy Corp. 0.01% 400 $71K Add +14.3%
STX Seagate Technology Holdings 0.01% 740 $69K Add +722.2%
CIVI Civitas Resources Inc. 0.01% 900 $68K New
WBA Walgreens Boots Alliance Inc. 0.01% 3,000 $65K Add +328.6%
WHR Whirlpool Corp. 0.01% 450 $54K Add +542.9%
BRY Berry Corp. 0.01% 5,000 $40K New
SCCO Southern Copper Corp. 0.01% 360 $38K No change
D Dominion Energy Inc. 0.01% 700 $34K Add +40.0%
BHP BHP Group Ltd.-Spon ADR 0.01% 580 $33K New
RF Regions Financial Corp. 0.00% 1,300 $27K No change
DOW Dow Inc. 0.00% 400 $23K No change
LYB Lyondellbasell Indu Class A 0.00% 200 $20K Add +81.8%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.00% 300 $15K Reduce -40.0%
DUK Duke Energy Corp. 0.00% 150 $15K No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.00% 90 $11K No change

Portfolio Sells Q4 2023 → Q1 2024
PXD Pioneer Natural Resources Co. Sold out 0.00% −1.23
WEC WEC Energy Group Inc. Reduce -74.6% 0.25% −0.84
NFE New Fortress Energy Inc. Sold out 0.00% −0.72
PTEN Patterson-Uti Energy Inc. Reduce -72.2% 0.22% −0.54
EOG EOG Resources Inc. Reduce -55.0% 0.42% −0.53
LNG Cheniere Energy Inc. Reduce -6.3% 1.72% −0.37
LRCX Lam Research Corp. Reduce -42.9% 0.70% −0.36
AVGO Broadcom Inc. Reduce -15.7% 4.39% −0.32
TRGP Targa Resources Corp. Reduce -29.2% 1.72% −0.31
HAL Halliburton Co. Reduce -37.5% 0.50% −0.29
PEP Pepsico Inc. Reduce -9.8% 1.74% −0.27
ALL Allstate Corp. Reduce -44.0% 0.44% −0.24
PSX Phillips 66 Reduce -33.3% 0.71% −0.22
WHD Cactus Inc. Class A Reduce -41.7% 0.32% −0.21
VLO Valero Energy Corp. Reduce -40.0% 0.56% −0.20
TGT Target Corp. Reduce -23.7% 1.44% −0.19
SEDG Solaredge Technologies Inc. Sold out 0.00% −0.15
BAC Bank of America Corp. Reduce -13.0% 1.37% −0.13
SEI Solaris Energy Infrastructur Sold out 0.00% −0.09
PG The Procter & Gamble Co. Reduce -14.3% 0.53% −0.07
AR Antero Resources Corp. Reduce -29.4% 0.31% −0.06
KMB Kimberly-Clark Corp. Reduce -1.3% 1.76% −0.04
QCOM Qualcomm Inc. Reduce -9.2% 2.73% −0.03
PLUG Plug Power Inc. Sold out 0.00% −0.02
CME Cme Group Inc. Sold out 0.00% −0.00
SQM Quimica Y Minera Chil-SP ADR Reduce -40.0% 0.00% −0.00
CAT Caterpillar Inc. Reduce -11.1% 0.27% +0.01
PRU Prudential Financial Inc. Reduce -4.5% 1.79% +0.01
MRK Merck & Co. Inc. Reduce -9.9% 1.74% +0.02
ABBV Abbvie Inc. Reduce -6.3% 4.39% +0.10
JPM JPMorgan Chase & Co. Reduce -4.5% 2.32% +0.10
FANG Diamondback Energy Inc. Reduce -12.0% 2.34% +0.10
PR Permian Resources Corp. Class A Reduce -3.2% 0.96% +0.14
NVDA Nvidia Corp. Reduce -12.5% 1.14% +0.37

Portfolio Buys Q4 2023 → Q1 2024
XEL Xcel Energy Inc. New 1.00% +1.00
RIO Rio Tinto PLC-Spon ADR Add +14385.7% 0.58% +0.58
XOM Exxon Mobil Corp. Add +28.6% 1.89% +0.53
CMS CMS Energy Corp. New 0.48% +0.48
DVN Devon Energy Corp. Add +29.1% 1.93% +0.48
BKR Baker Hughes Co. Add +273.3% 0.68% +0.48
NEE Nextera Energy Inc. Add +17.6% 3.24% +0.43
AEP American Electric Power Add +16.7% 2.40% +0.31
SLB SLB Ltd. New 0.30% +0.30
VZ Verizon Communications Inc. Add +22.1% 1.23% +0.26
MUSA Murphy USA Inc. New 0.23% +0.23
TPL Texas Pacific Land Corp. Add +25.0% 0.94% +0.21
NEM Newmont Corp. New 0.19% +0.19
CVX Chevron Corp. Add +46.7% 0.63% +0.19
OVV Ovintiv Inc. Add +25.0% 0.70% +0.19
TSLA Tesla Inc. New 0.19% +0.19
PFE Pfizer Inc. Add +27.7% 1.38% +0.17
MRO Marathon Oil Corp. Add +12.5% 0.92% +0.17
EXC Exelon Corp. Add +72.9% 0.41% +0.17
FSLR First Solar Inc. New 0.14% +0.14
SBUX Starbucks Corp. Add +50.0% 0.55% +0.13
APD Air Products & Chemicals Inc. Add +35.0% 1.18% +0.12
EE Excelerate Energy Inc. Class A Add +40.0% 0.41% +0.10
CTRA Coterra Energy Inc. Add +27.3% 0.35% +0.08
KVUE Kenvue Inc. Add +16.2% 1.09% +0.08
ETR Entergy Corp. Add +6.3% 2.40% +0.07
DE Deere & Co. Add +25.0% 0.37% +0.06
ORI Old Republic Intl Corp. Add +9.1% 0.67% +0.04
MO Altria Group Inc. Add +2.1% 1.42% +0.04
T AT&T Inc. Add +15.4% 0.24% +0.03
BBY Best Buy Co. Inc. Add +900.0% 0.03% +0.03
SNY Sanofi-ADR New 0.02% +0.02
USB US Bancorp Add +666.7% 0.01% +0.01
CIVI Civitas Resources Inc. New 0.01% +0.01
STX Seagate Technology Holdings Add +722.2% 0.01% +0.01
BMY Bristol-Myers Squibb Co. Add +2.7% 1.01% +0.01
WBA Walgreens Boots Alliance Inc. Add +328.6% 0.01% +0.01
WHR Whirlpool Corp. Add +542.9% 0.01% +0.01
BRY Berry Corp. New 0.01% +0.01
BHP BHP Group Ltd.-Spon ADR New 0.01% +0.01
D Dominion Energy Inc. Add +40.0% 0.01% +0.00
LYB Lyondellbasell Indu Class A Add +81.8% 0.00% +0.00
CHRD Chord Energy Corp. Add +14.3% 0.01% +0.00
TRP TC Energy Corp. Add +4.4% 1.10% −0.00
UPS United Parcel Service Class B Add +12.5% 0.73% −0.01
BTI British American Tob-SP ADR Add +1.5% 0.99% −0.02
PBA Pembina Pipeline Corp. Add +0.9% 0.58% −0.02
AAPL Apple Inc. Add +15.0% 0.71% −0.04
SHLS Shoals Technologies Group -A Add +33.3% 0.32% −0.04
AES AES Corp. Add +1.7% 0.58% −0.08

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 146$1.1BAVGO, GLW, CVX, TRP, ABBV
Q1 2026 142$975.6MAVGO, CVX, TRP, NEE, GLW
Q4 2025 137$862.8MAVGO, TRP, NEE, CVX, GLW
Q3 2025 141$827.4MAVGO, NEE, TRP, CVX, ETR
Q2 2025 143$728.0MAVGO, NEE, TRP, CVX, PEP
Q1 2025 140$693.6MNEE, AVGO, CVX, BMY, ABBV
Q4 2024 132$642.3MAVGO, NEE, ABBV, TRP, CVX
Q3 2024 131$615.5MAVGO, ABBV, NEE, ETR, BLK
Q2 2024 126$558.5MAVGO, ABBV, NEE, QCOM, ETR
Q1 2024 123$552.6MAVGO, ABBV, NEE, QCOM, BLK