Viking Fund Management LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 11, 2024), Viking Fund Management LLC reported 131 stock positions worth $615.5 million. Its top holding was Broadcom (AVGO) at 4.5% of the portfolio, followed by Abbvie (ABBV, 4.0%) and Nextera Energy (NEE, 3.7%). Compared with Q2 2024, it opened 13 new positions, sold out of 8, added to 40 and reduced 22. The biggest buy was Civitas Resources (CIVI, shares +16900%) and the biggest sale an exit from Marathon Oil (MRO).

Most Recent 13F
Q2 2026
Location
MINOT, ND
CIK
0001169069
Portfolio Value
$615.5M (Q3 2024)
SEC Filing
0001169069-24-000080 ↗ filed Oct 11, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $552.6M Q1 2024 Q2 2024: $558.5M Q2 2024 Q3 2024: $615.5M $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 131 stocks · $615.5M
AVGO Broadcom Inc. 4.54% 162,100 $28.0M Reduce -1.8%
ABBV Abbvie Inc. 4.04% 126,000 $24.9M Reduce -11.6%
NEE Nextera Energy Inc. 3.68% 268,000 $22.7M No change
ETR Entergy Corp. 2.64% 123,600 $16.3M Add +4.2%
BLK BlackRock Finance Inc. 2.31% 15,000 $14.2M No change
AEP American Electric Power 2.01% 120,500 $12.4M Reduce -16.3%
QCOM Qualcomm Inc. 1.99% 72,000 $12.2M Add +10.8%
PR Permian Resources Corp. Class A 1.95% 881,000 $12.0M Add +28.2%
ENB Enbridge Inc. 1.94% 294,500 $12.0M Reduce -7.8%
PEP Pepsico Inc. 1.82% 66,000 $11.2M Add +8.2%
XEL Xcel Energy Inc. 1.72% 162,400 $10.6M Add +32.7%
MS Morgan Stanley 1.69% 100,000 $10.4M No change
GLW Corning Inc. 1.69% 230,000 $10.4M No change
CVX Chevron Corp. 1.68% 70,000 $10.3M Add +20.7%
SBUX Starbucks Corp. 1.66% 105,000 $10.2M Add +20.7%
KMB Kimberly-Clark Corp. 1.64% 71,000 $10.1M No change
PFE Pfizer Inc. 1.62% 344,000 $10.0M Add +20.3%
PRU Prudential Financial Inc. 1.60% 81,500 $9.9M No change
HD Home Depot Inc. 1.51% 23,000 $9.3M No change
TRGP Targa Resources Corp. 1.44% 60,000 $8.9M Reduce -25.9%
PM Philip Morris International 1.44% 73,000 $8.9M Reduce -20.2%
JPM JPMorgan Chase & Co. 1.44% 42,000 $8.9M Reduce -6.7%
APD Air Products & Chemicals Inc. 1.40% 29,000 $8.6M Add +7.4%
LNG Cheniere Energy Inc. 1.40% 48,000 $8.6M Reduce -18.6%
TXN Texas Instruments Inc. 1.38% 41,000 $8.5M Reduce -6.8%
DVN Devon Energy Corp. 1.35% 213,000 $8.3M No change
LRCX Lam Research Corp. 1.33% 10,000 $8.2M Add +150.0%
MO Altria Group Inc. 1.29% 155,250 $7.9M Reduce -16.2%
NVDA Nvidia Corp. 1.28% 65,000 $7.9M No change
CIVI Civitas Resources Inc. 1.26% 153,000 $7.8M Add +16900.0%
TRP TC Energy Corp. 1.21% 157,000 $7.5M Add +3.0%
VZ Verizon Communications Inc. 1.19% 163,000 $7.3M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.16% 180,000 $7.1M No change
LMT Lockheed Martin Corp. 1.14% 12,000 $7.0M No change
TGT Target Corp. 1.14% 45,000 $7.0M No change
GPC Genuine Parts Co. 1.13% 50,000 $7.0M Add +150.0%
KVUE Kenvue Inc. 1.13% 300,000 $6.9M Add +7.1%
MRK Merck & Co. Inc. 1.13% 61,000 $6.9M Reduce -6.2%
MCD McDonald's Corp. 0.99% 20,000 $6.1M Add +25.0%
UNH Unitedhealth Group Inc. 0.95% 10,000 $5.8M No change
PAYX Paychex Inc. 0.94% 43,000 $5.8M Add +10.3%
BTI British American Tob-SP ADR 0.94% 157,500 $5.8M Reduce -12.7%
UPS United Parcel Service Class B 0.89% 40,000 $5.5M Add +33.3%
SWKS Skyworks Solutions Inc. 0.88% 55,000 $5.4M No change
BCE Bce Inc. 0.88% 156,000 $5.4M No change
XOM Exxon Mobil Corp. 0.86% 45,000 $5.3M Reduce -35.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.80% 22,200 $4.9M No change
AAPL Apple Inc. 0.80% 21,000 $4.9M Reduce -8.7%
BMY Bristol-Myers Squibb Co. 0.79% 93,600 $4.8M Reduce -16.9%
BKR Baker Hughes Co. 0.78% 132,000 $4.8M No change
KLAC KLA Corp. 0.75% 6,000 $4.6M No change
PSX Phillips 66 0.75% 35,000 $4.6M Add +59.1%
ITW Illinois Tool Works 0.72% 17,000 $4.5M Add +21.4%
TT Trane Technologies PLC 0.69% 11,000 $4.3M No change
ORI Old Republic Intl Corp. 0.69% 120,000 $4.3M No change
CMS CMS Energy Corp. 0.69% 60,000 $4.2M Add +36.4%
AES AES Corp. 0.68% 208,000 $4.2M Add +36.0%
V Visa Inc. Class A 0.67% 15,000 $4.1M No change
FANG Diamondback Energy Inc. 0.64% 23,000 $4.0M Reduce -8.0%
PBA Pembina Pipeline Corp. 0.61% 91,400 $3.8M No change
KO The Coca-Cola Co. 0.58% 50,000 $3.6M No change
MA Mastercard Inc. Class A 0.56% 7,000 $3.5M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.55% 80,000 $3.4M Add +33.3%
PG The Procter & Gamble Co. 0.51% 18,000 $3.1M No change
INTU Intuit Inc. 0.50% 5,000 $3.1M No change
TMO Thermo Fisher Scientific Inc. 0.50% 5,000 $3.1M No change
EE Excelerate Energy Inc. Class A 0.50% 140,000 $3.1M No change
TS Tenaris SA-ADR 0.49% 95,000 $3.0M No change
AR Antero Resources Corp. 0.47% 100,000 $2.9M Add +66.7%
CVS CVS Health Corp. 0.46% 45,000 $2.8M No change
AMD Advanced Micro Devices 0.45% 17,000 $2.8M No change
LOW Lowe's Cos Inc. 0.44% 10,000 $2.7M No change
WM Waste Management Inc. 0.44% 13,000 $2.7M No change
SPGI S&P Global Inc. 0.42% 5,000 $2.6M No change
MSFT Microsoft Corp. 0.42% 6,000 $2.6M No change
VLO Valero Energy Corp. 0.42% 19,000 $2.6M Add +26.7%
EXC Exelon Corp. 0.41% 62,000 $2.5M Add +2.5%
CSCO Cisco Systems Inc. 0.39% 45,000 $2.4M No change
ENPH Enphase Energy Inc. 0.37% 20,000 $2.3M No change
FSLR First Solar Inc. 0.36% 9,000 $2.2M Add +28.6%
CTRA Coterra Energy Inc. 0.35% 90,000 $2.2M Add +28.6%
DE Deere & Co. 0.34% 5,000 $2.1M No change
PNC PNC Financial Services Group 0.32% 10,600 $2.0M Add +2.9%
FDX FedEx Corp. 0.31% 7,000 $1.9M No change
OVV Ovintiv Inc. 0.31% 50,000 $1.9M Reduce -33.3%
NEM Newmont Corp. 0.30% 35,000 $1.9M Reduce -12.5%
T AT&T Inc. 0.30% 84,000 $1.8M No change
EQT Eqt Corp. 0.30% 50,000 $1.8M New
NRG NRG Energy Inc. 0.30% 20,000 $1.8M New
WFRD Weatherford International PL 0.29% 21,000 $1.8M New
KGS Kodiak Gas Services Inc. 0.28% 60,000 $1.7M New
NET Cloudflare Inc. Class A 0.28% 21,000 $1.7M No change
KMI Kinder Morgan Inc. 0.27% 75,000 $1.7M Add +50.0%
CAT Caterpillar Inc. 0.25% 4,000 $1.6M No change
VRT Vertiv Holdings Co. Class A 0.24% 15,000 $1.5M New
DAR Darling Ingredients Inc. 0.24% 39,000 $1.4M No change
TPL Texas Pacific Land Corp. 0.23% 1,600 $1.4M Reduce -60.0%
XPRO Expro Group Holdings NV 0.22% 80,000 $1.4M No change
DINO HF Sinclair Corp. 0.22% 30,000 $1.3M New
EW Edwards Lifesciences Corp. 0.21% 20,000 $1.3M No change
GTLS Chart Industries Inc. 0.20% 10,000 $1.2M New
SHLS Shoals Technologies Group -A 0.20% 215,000 $1.2M Add +10.3%
VST Vistra Corp. 0.19% 10,000 $1.2M New
HAL Halliburton Co. 0.14% 30,000 $872K Reduce -40.0%
PTEN Patterson-Uti Energy Inc. 0.14% 110,000 $842K Add +10.0%
GNRC Generac Holdings Inc. 0.13% 5,000 $794K No change
ARRY Array Technologies Inc. 0.13% 120,000 $792K No change
TSLA Tesla Inc. 0.13% 3,000 $785K Reduce -50.0%
NXT Nextpower Inc. filed as NEXTRACKER INC 0.12% 20,000 $750K No change
ES Eversource Energy 0.04% 4,000 $272K New
USB US Bancorp 0.04% 5,340 $244K Add +128.2%
RIO Rio Tinto PLC-Spon ADR 0.04% 3,400 $242K Add +385.7%
STX Seagate Technology Holdings 0.04% 2,000 $219K Add +170.3%
BBY Best Buy Co. Inc. 0.03% 2,000 $207K No change
POR Portland General Electric Co. 0.03% 4,000 $192K New
DOW Dow Inc. 0.03% 3,000 $164K Add +200.0%
QSR Restaurant Brands Intern 0.02% 2,000 $144K New
LYB Lyondellbasell Indu Class A 0.02% 1,500 $144K Add +400.0%
CFG Citizens Financial Group 0.02% 3,000 $123K Add +200.0%
WHR Whirlpool Corp. 0.02% 1,000 $107K Add +66.7%
NTR Nutrien Ltd. 0.02% 2,000 $96K New
WEN The Wendy's Co. 0.01% 5,000 $88K No change
UMC United Microelectron-SP ADR 0.01% 10,000 $84K New
CHRD Chord Energy Corp. 0.01% 600 $78K No change
RF Regions Financial Corp. 0.01% 3,000 $70K Add +130.8%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.01% 600 $65K No change
BHP BHP Group Ltd.-Spon ADR 0.01% 1,000 $62K Add +72.4%
D Dominion Energy Inc. 0.01% 700 $40K No change
WBA Walgreens Boots Alliance Inc. 0.01% 4,300 $39K Reduce -14.0%
DUK Duke Energy Corp. 0.01% 300 $35K No change
BRY Berry Corp. 0.00% 5,000 $26K No change

Portfolio Sells Q2 2024 → Q3 2024
MRO Marathon Oil Corp. Sold out 0.00% −0.92
SHEL Shell PLC-ADR Sold out 0.00% −0.78
XOM Exxon Mobil Corp. Reduce -35.7% 0.86% −0.59
LNG Cheniere Energy Inc. Reduce -18.6% 1.40% −0.44
TRGP Targa Resources Corp. Reduce -25.9% 1.44% −0.42
ABBV Abbvie Inc. Reduce -11.6% 4.04% −0.33
OVV Ovintiv Inc. Reduce -33.3% 0.31% −0.32
MRK Merck & Co. Inc. Reduce -6.2% 1.13% −0.32
SM SM Energy Co. Sold out 0.00% −0.31
TPL Texas Pacific Land Corp. Reduce -60.0% 0.23% −0.30
AEP American Electric Power Reduce -16.3% 2.01% −0.25
FANG Diamondback Energy Inc. Reduce -8.0% 0.64% −0.25
MO Altria Group Inc. Reduce -16.2% 1.29% −0.22
PM Philip Morris International Reduce -20.2% 1.44% −0.22
AVGO Broadcom Inc. Reduce -1.8% 4.54% −0.20
JPM JPMorgan Chase & Co. Reduce -6.7% 1.44% −0.19
MUSA Murphy USA Inc. Sold out 0.00% −0.17
HAL Halliburton Co. Reduce -40.0% 0.14% −0.16
TXN Texas Instruments Inc. Reduce -6.8% 1.38% −0.16
WHD Cactus Inc. Class A Sold out 0.00% −0.15
ENB Enbridge Inc. Reduce -7.8% 1.94% −0.09
TSLA Tesla Inc. Reduce -50.0% 0.13% −0.09
AAPL Apple Inc. Reduce -8.7% 0.80% −0.07
BTI British American Tob-SP ADR Reduce -12.7% 0.94% −0.06
BMY Bristol-Myers Squibb Co. Reduce -16.9% 0.79% −0.05
SNY Sanofi-ADR Sold out 0.00% −0.02
WBA Walgreens Boots Alliance Inc. Reduce -14.0% 0.01% −0.00
SQM Quimica Y Minera Chil-SP ADR Sold out 0.00% −0.00
SCCO Southern Copper Corp. Sold out 0.00% −0.00
NEM Newmont Corp. Reduce -12.5% 0.30% +0.00

Portfolio Buys Q2 2024 → Q3 2024
CIVI Civitas Resources Inc. Add +16900.0% 1.26% +1.25
GPC Genuine Parts Co. Add +150.0% 1.13% +0.64
LRCX Lam Research Corp. Add +150.0% 1.33% +0.56
XEL Xcel Energy Inc. Add +32.7% 1.72% +0.55
SBUX Starbucks Corp. Add +20.7% 1.66% +0.45
ETR Entergy Corp. Add +4.2% 2.64% +0.37
EQT Eqt Corp. New 0.30% +0.30
NRG NRG Energy Inc. New 0.30% +0.30
WFRD Weatherford International PL New 0.29% +0.29
KGS Kodiak Gas Services Inc. New 0.28% +0.28
MCD McDonald's Corp. Add +25.0% 0.99% +0.26
VRT Vertiv Holdings Co. Class A New 0.24% +0.24
CMS CMS Energy Corp. Add +36.4% 0.69% +0.22
DINO HF Sinclair Corp. New 0.22% +0.22
KVUE Kenvue Inc. Add +7.1% 1.13% +0.22
GTLS Chart Industries Inc. New 0.20% +0.20
AES AES Corp. Add +36.0% 0.68% +0.20
VST Vistra Corp. New 0.19% +0.19
PSX Phillips 66 Add +59.1% 0.75% +0.19
PFE Pfizer Inc. Add +20.3% 1.62% +0.18
TRP TC Energy Corp. Add +3.0% 1.21% +0.18
APD Air Products & Chemicals Inc. Add +7.4% 1.40% +0.16
UPS United Parcel Service Class B Add +33.3% 0.89% +0.15
ITW Illinois Tool Works Add +21.4% 0.72% +0.13
AR Antero Resources Corp. Add +66.7% 0.47% +0.11
PAYX Paychex Inc. Add +10.3% 0.94% +0.11
KMI Kinder Morgan Inc. Add +50.0% 0.27% +0.09
FSLR First Solar Inc. Add +28.6% 0.36% +0.08
CVX Chevron Corp. Add +20.7% 1.68% +0.05
ES Eversource Energy New 0.04% +0.04
SLB SLB Ltd. Add +33.3% 0.55% +0.04
EXC Exelon Corp. Add +2.5% 0.41% +0.03
PNC PNC Financial Services Group Add +2.9% 0.32% +0.03
POR Portland General Electric Co. New 0.03% +0.03
RIO Rio Tinto PLC-Spon ADR Add +385.7% 0.04% +0.03
QSR Restaurant Brands Intern New 0.02% +0.02
USB US Bancorp Add +128.2% 0.04% +0.02
PEP Pepsico Inc. Add +8.2% 1.82% +0.02
STX Seagate Technology Holdings Add +170.3% 0.04% +0.02
LYB Lyondellbasell Indu Class A Add +400.0% 0.02% +0.02
DOW Dow Inc. Add +200.0% 0.03% +0.02
CTRA Coterra Energy Inc. Add +28.6% 0.35% +0.02
NTR Nutrien Ltd. New 0.02% +0.02
UMC United Microelectron-SP ADR New 0.01% +0.01
CFG Citizens Financial Group Add +200.0% 0.02% +0.01
RF Regions Financial Corp. Add +130.8% 0.01% +0.01
WHR Whirlpool Corp. Add +66.7% 0.02% +0.01
BHP BHP Group Ltd.-Spon ADR Add +72.4% 0.01% +0.00
VLO Valero Energy Corp. Add +26.7% 0.42% −0.00
SHLS Shoals Technologies Group -A Add +10.3% 0.20% −0.02

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