Viking Global Investors
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Andreas Halvorsen's Viking Global Investors reported 91 stock positions worth $31.5 billion. Its top holding was US Bancorp (USB) at 4.7% of the portfolio, followed by Schwab (charles) (SCHW, 4.4%) and Bank of America (BAC, 4.3%). Compared with Q4 2024, it opened 27 new positions, sold out of 22, added to 27 and reduced 28. The biggest buy was a new position in Meta Platforms Class A (META) and the biggest sale JPMorgan Chase (JPM, shares −71%).
- Most Recent 13F
- Q2 2026
- Notable People
- Andreas Halvorsen
- Location
- STAMFORD, CT
- CIK
- 0001103804
- Portfolio Value
- $31.5B (Q1 2025)
- SEC Filing
- 0001103804-25-000004 ↗ filed May 15, 2025
Holdings Value
Holdings 91 stocks · $31.5B
| USB US Bancorp | 4.68% | 34,863,502 | $1.5B | Add +42.6% |
| SCHW Schwab (charles) Corp. | 4.41% | 17,716,717 | $1.4B | Add +20.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 4.27% | 32,199,070 | $1.3B | Add +30.3% |
| UNH Unitedhealth Group Inc. | 3.56% | 2,137,806 | $1.1B | Add +12.5% |
| INTU Intuit Inc. | 3.33% | 1,706,420 | $1.0B | Reduce -0.7% |
| FTV Fortive Corp. | 3.01% | 12,950,122 | $947.7M | Reduce -1.8% |
| META Meta Platforms Inc. Class A | 2.69% | 1,466,311 | $845.1M | New |
| COF Capital One Financial Corp. | 2.62% | 4,591,100 | $823.2M | New |
| TSM Taiwan Semiconductor-SP ADR | 2.58% | 4,889,247 | $811.6M | Add +19.6% |
| APG Api Group Corp. | 2.45% | 21,537,518 | $770.2M | No change |
| BMRN Biomarin Pharmaceutical Inc. | 2.43% | 10,800,059 | $763.5M | Add +2.8% |
| BBIO Bridgebio Pharma Inc. | 2.42% | 22,055,375 | $762.5M | Reduce -12.2% |
| V Visa Inc. Class A | 2.37% | 2,125,091 | $744.8M | Reduce -39.2% |
| NVDA Nvidia Corp. | 2.25% | 6,543,107 | $709.1M | Add +222.0% |
| NFLX Netflix Inc. | 2.22% | 749,431 | $698.9M | Add +49.2% |
| CB Chubb Ltd. | 1.87% | 1,949,065 | $588.6M | New |
| FLUT Flutter Entertainment PLC-Di | 1.80% | 2,554,206 | $565.9M | Add +36.7% |
| ROST Ross Stores Inc. | 1.75% | 4,321,269 | $552.2M | Add +153.2% |
| ICE Intercontinental Exchange Inc. | 1.75% | 3,200,409 | $552.1M | Add +15.6% |
| BA The Boeing Co. | 1.75% | 3,231,232 | $551.1M | Add +8.6% |
| SE Sea Ltd.-ADR | 1.72% | 4,160,096 | $542.9M | New |
| CVNA Carvana Co. | 1.70% | 2,553,861 | $534.0M | Add +192.3% |
| JPM JPMorgan Chase & Co. | 1.69% | 2,171,648 | $532.7M | Reduce -70.9% |
| AMZN Amazon.com Inc. | 1.65% | 2,721,710 | $517.8M | Add +4.1% |
| PM Philip Morris International | 1.62% | 3,213,460 | $510.1M | Reduce -36.8% |
| CSX CSX Corp. | 1.60% | 17,068,769 | $502.3M | Add +16.3% |
| ROIV Roivant Sciences Ltd. | 1.48% | 46,013,752 | $464.3M | Reduce -3.8% |
| TMUS T-Mobile US Inc. | 1.33% | 1,565,894 | $417.6M | Add +156.5% |
| HCA HCA Healthcare Inc. | 1.30% | 1,181,360 | $408.2M | Add +6.4% |
| TIC Tic Solutions Inc. filed as ACUREN CORP | 1.21% | 34,360,000 | $382.1M | New |
| MCD McDonald's Corp. | 1.14% | 1,150,434 | $359.4M | New |
| DB Deutsche Bank AG-Registered | 1.13% | 15,106,082 | $356.4M | New |
| ALL Allstate Corp. | 1.12% | 1,703,403 | $352.7M | Reduce -12.1% |
| NKE Nike Inc. Class B | 1.12% | 5,546,625 | $352.1M | New |
| CPT Camden Property Trust | 1.08% | 2,788,789 | $341.1M | Reduce -17.1% |
| DASH DoorDash Inc. Class A | 1.08% | 1,858,037 | $339.6M | Reduce -62.5% |
| SHW The Sherwin-Williams Co. | 1.08% | 972,230 | $339.5M | Add +57.3% |
| GM General Motors Co. | 1.07% | 7,188,824 | $338.1M | Add +178.6% |
| SKX Skechers USA Inc. Class A | 1.05% | 5,800,882 | $329.4M | Add +60.2% |
| RPRX Royalty Pharma PLC Class A | 1.04% | 10,563,939 | $328.9M | Reduce -13.5% |
| RRX Regal Rexnord Corp. | 0.99% | 2,728,983 | $310.7M | Add +214.9% |
| PGR Progressive Corp. | 0.96% | 1,068,406 | $302.4M | Reduce -50.9% |
| SNPS Synopsys Inc. | 0.96% | 703,912 | $301.9M | Reduce -2.4% |
| CMG Chipotle Mexican Grill Inc. | 0.96% | 6,006,556 | $301.6M | New |
| COR Cencora Inc. | 0.94% | 1,067,819 | $296.9M | New |
| MSFT Microsoft Corp. | 0.82% | 683,918 | $256.7M | Reduce -71.4% |
| CCL Carnival Corp. | 0.77% | 12,408,817 | $242.3M | New |
| BSX Boston Scientific Corp. | 0.76% | 2,376,764 | $239.8M | Add +9.4% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.73% | 666,552 | $230.1M | New |
| ADPT Adaptive Biotechnologies | 0.71% | 29,993,708 | $222.9M | No change |
| QCOM Qualcomm Inc. | 0.70% | 1,432,337 | $220.0M | Add +343.7% |
| MAA Mid-America Apartment Comm | 0.60% | 1,120,651 | $187.8M | New |
| AMT American Tower Corp. | 0.58% | 838,796 | $182.5M | Reduce -6.5% |
| FSLR First Solar Inc. | 0.57% | 1,411,131 | $178.4M | New |
| PRMB Primo Brands Corp. | 0.57% | 5,023,527 | $178.3M | New |
| DHI D.R. Horton Inc. | 0.55% | 1,357,054 | $172.5M | New |
| EQH Equitable Holdings Inc. | 0.54% | 3,279,559 | $170.8M | Add +329.1% |
| MNST Monster Beverage Corp. | 0.53% | 2,857,800 | $167.2M | Reduce -64.6% |
| TEVA Teva Pharmaceutical-SP ADR | 0.49% | 10,125,478 | $155.6M | Add +55.7% |
| LEN Lennar Corp. Class A | 0.49% | 1,351,526 | $155.1M | New |
| NAMS Newamsterdam Pharma Co. NV | 0.45% | 6,978,534 | $142.9M | No change |
| ITGR Integer Holdings Corp. | 0.44% | 1,177,273 | $138.9M | Add +1.9% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.42% | 746,309 | $133.4M | New |
| TRU Transunion | 0.35% | 1,336,984 | $111.0M | Reduce -67.4% |
| SPOT Spotify Technology SA | 0.34% | 192,877 | $106.1M | Reduce -87.5% |
| DHR Danaher Corp. | 0.29% | 451,521 | $92.6M | New |
| TSLA Tesla Inc. | 0.29% | 350,084 | $90.7M | New |
| BNTX Biontech SE-ADR | 0.25% | 879,972 | $80.1M | Reduce -6.5% |
| ADSK Autodesk Inc. | 0.25% | 304,494 | $79.7M | Reduce -59.8% |
| RYAN Ryan Specialty Holdings Inc. | 0.22% | 955,889 | $70.6M | New |
| LAB Standard Biotools Inc. | 0.20% | 58,651,170 | $63.3M | No change |
| AS Amer Sports Inc. | 0.20% | 2,354,335 | $62.9M | New |
| REGN Regeneron Pharmaceuticals | 0.20% | 97,739 | $62.0M | New |
| RACE Ferrari NV | 0.18% | 135,397 | $57.4M | New |
| PHVS Pharvaris NV | 0.18% | 3,653,310 | $57.4M | No change |
| TVTX Travere Therapeutics Inc. | 0.15% | 2,601,922 | $46.6M | Reduce -10.3% |
| MTSR Metsera Inc. | 0.14% | 1,616,612 | $44.0M | New |
| ORIC Oric Pharmaceuticals Inc. | 0.12% | 6,572,700 | $36.7M | Add +48.3% |
| APP AppLovin Corp. Class A | 0.12% | 137,093 | $36.3M | Reduce -8.0% |
| SION Sionna Therapeutics Inc. | 0.10% | 2,952,754 | $30.9M | New |
| TWLO Twilio Inc. Class A | 0.08% | 255,514 | $25.0M | Reduce -69.5% |
| INBX Inhibrx Biosciences Inc. | 0.08% | 1,787,705 | $25.0M | No change |
| DNA Ginkgo Bioworks Holdings Inc. | 0.06% | 3,577,128 | $20.4M | No change |
| TRVI Trevi Therapeutics Inc. | 0.06% | 3,227,792 | $20.3M | Reduce -26.6% |
| IMVT Immunovant Inc. | 0.06% | 1,114,827 | $19.1M | Reduce -20.8% |
| SAIL Sailpoint Inc. | 0.06% | 1,010,307 | $18.9M | New |
| EWTX Edgewise Therapeutics Inc. | 0.03% | 490,035 | $10.8M | Reduce -60.0% |
| MET Metlife Inc. | 0.02% | 84,312 | $6.8M | Reduce -98.6% |
| RLYB Rallybio Corp. | 0.01% | 4,194,777 | $2.7M | No change |
| LI Li Auto Inc. - ADR | 0.01% | 96,031 | $2.4M | Reduce -97.9% |
| PEPG Pepgen Inc. | 0.01% | 1,482,434 | $2.1M | No change |
Portfolio Sells Q4 2024 → Q1 2025
| JPM JPMorgan Chase & Co. | Reduce -70.9% | 1.69% | −4.10 |
| MSFT Microsoft Corp. | Reduce -71.4% | 0.82% | −2.44 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −2.41 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −2.24 |
| SPOT Spotify Technology SA | Reduce -87.5% | 0.34% | −1.91 |
| ADBE Adobe Inc. | Sold out | 0.00% | −1.78 |
| DASH DoorDash Inc. Class A | Reduce -62.5% | 1.08% | −1.61 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −1.58 |
| MET Metlife Inc. | Reduce -98.6% | 0.02% | −1.57 |
| CRM Salesforce Inc. | Sold out | 0.00% | −1.31 |
| V Visa Inc. Class A | Reduce -39.2% | 2.37% | −1.21 |
| TRU Transunion | Reduce -67.4% | 0.35% | −0.88 |
| MNST Monster Beverage Corp. | Reduce -64.6% | 0.53% | −0.84 |
| AON Aon PLC Class A | Sold out | 0.00% | −0.84 |
| AAL American Airlines Group Inc. | Sold out | 0.00% | −0.76 |
| PGR Progressive Corp. | Reduce -50.9% | 0.96% | −0.72 |
| COO The Cooper Cos Inc. | Sold out | 0.00% | −0.60 |
| ZS Zscaler Inc. | Sold out | 0.00% | −0.53 |
| TRV The Travelers Cos Inc. | Sold out | 0.00% | −0.52 |
| ADSK Autodesk Inc. | Reduce -59.8% | 0.25% | −0.47 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −0.42 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −0.39 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −0.38 |
| PM Philip Morris International | Reduce -36.8% | 1.62% | −0.36 |
| ROIV Roivant Sciences Ltd. | Reduce -3.8% | 1.48% | −0.36 |
| LI Li Auto Inc. - ADR | Reduce -97.9% | 0.01% | −0.35 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −0.30 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.28 |
| CSGP Costar Group Inc. | Sold out | 0.00% | −0.27 |
| VST Vistra Corp. | Sold out | 0.00% | −0.27 |
| TWLO Twilio Inc. Class A | Reduce -69.5% | 0.08% | −0.21 |
| APTV Aptiv PLC | Sold out | 0.00% | −0.20 |
| FTV Fortive Corp. | Reduce -1.8% | 3.01% | −0.19 |
| SNAP Snap Inc. Class A | Sold out | 0.00% | −0.18 |
| CPT Camden Property Trust | Reduce -17.1% | 1.08% | −0.18 |
| SNPS Synopsys Inc. | Reduce -2.4% | 0.96% | −0.17 |
| INTU Intuit Inc. | Reduce -0.7% | 3.33% | −0.17 |
| OSCR Oscar Health Inc. Class A | Sold out | 0.00% | −0.13 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.10 |
| BNTX Biontech SE-ADR | Reduce -6.5% | 0.25% | −0.09 |
| ALL Allstate Corp. | Reduce -12.1% | 1.12% | −0.09 |
| EWTX Edgewise Therapeutics Inc. | Reduce -60.0% | 0.03% | −0.07 |
| IMVT Immunovant Inc. | Reduce -20.8% | 0.06% | −0.05 |
| APP AppLovin Corp. Class A | Reduce -8.0% | 0.12% | −0.04 |
| PONY Pony AI Inc. | Sold out | 0.00% | −0.03 |
| TVTX Travere Therapeutics Inc. | Reduce -10.3% | 0.15% | −0.02 |
| TRVI Trevi Therapeutics Inc. | Reduce -26.6% | 0.06% | +0.01 |
| RPRX Royalty Pharma PLC Class A | Reduce -13.5% | 1.04% | +0.04 |
| AMT American Tower Corp. | Reduce -6.5% | 0.58% | +0.05 |
| BBIO Bridgebio Pharma Inc. | Reduce -12.2% | 2.42% | +0.19 |
Portfolio Buys Q4 2024 → Q1 2025
| META Meta Platforms Inc. Class A | New | 2.69% | +2.69 |
| COF Capital One Financial Corp. | New | 2.62% | +2.62 |
| CB Chubb Ltd. | New | 1.87% | +1.87 |
| SE Sea Ltd.-ADR | New | 1.72% | +1.72 |
| NVDA Nvidia Corp. | Add +222.0% | 2.25% | +1.37 |
| TIC Tic Solutions Inc. | New | 1.21% | +1.21 |
| MCD McDonald's Corp. | New | 1.14% | +1.14 |
| DB Deutsche Bank AG-Registered | New | 1.13% | +1.13 |
| CVNA Carvana Co. | Add +192.3% | 1.70% | +1.12 |
| NKE Nike Inc. Class B | New | 1.12% | +1.12 |
| CMG Chipotle Mexican Grill Inc. | New | 0.96% | +0.96 |
| COR Cencora Inc. | New | 0.94% | +0.94 |
| ROST Ross Stores Inc. | Add +153.2% | 1.75% | +0.92 |
| SCHW Schwab (charles) Corp. | Add +20.9% | 4.41% | +0.90 |
| USB US Bancorp | Add +42.6% | 4.68% | +0.89 |
| TMUS T-Mobile US Inc. | Add +156.5% | 1.33% | +0.89 |
| NFLX Netflix Inc. | Add +49.2% | 2.22% | +0.77 |
| CCL Carnival Corp. | New | 0.77% | +0.77 |
| BAC Bank of America Corp. | Add +30.3% | 4.27% | +0.75 |
| AJG Arthur J Gallagher & Co. | New | 0.73% | +0.73 |
| GM General Motors Co. | Add +178.6% | 1.07% | +0.63 |
| MAA Mid-America Apartment Comm | New | 0.60% | +0.60 |
| FSLR First Solar Inc. | New | 0.57% | +0.57 |
| PRMB Primo Brands Corp. | New | 0.57% | +0.57 |
| RRX Regal Rexnord Corp. | Add +214.9% | 0.99% | +0.55 |
| DHI D.R. Horton Inc. | New | 0.55% | +0.55 |
| QCOM Qualcomm Inc. | Add +343.7% | 0.70% | +0.54 |
| LEN Lennar Corp. Class A | New | 0.49% | +0.49 |
| UNH Unitedhealth Group Inc. | Add +12.5% | 3.56% | +0.45 |
| EQH Equitable Holdings Inc. | Add +329.1% | 0.54% | +0.43 |
| MTB M & T Bank Corp. | New | 0.42% | +0.42 |
| ICE Intercontinental Exchange Inc. | Add +15.6% | 1.75% | +0.42 |
| SHW The Sherwin-Williams Co. | Add +57.3% | 1.08% | +0.40 |
| DHR Danaher Corp. | New | 0.29% | +0.29 |
| TSLA Tesla Inc. | New | 0.29% | +0.29 |
| SKX Skechers USA Inc. Class A | Add +60.2% | 1.05% | +0.26 |
| FLUT Flutter Entertainment PLC-Di | Add +36.7% | 1.80% | +0.23 |
| RYAN Ryan Specialty Holdings Inc. | New | 0.22% | +0.22 |
| HCA HCA Healthcare Inc. | Add +6.4% | 1.30% | +0.22 |
| AS Amer Sports Inc. | New | 0.20% | +0.20 |
| REGN Regeneron Pharmaceuticals | New | 0.20% | +0.20 |
| BMRN Biomarin Pharmaceutical Inc. | Add +2.8% | 2.43% | +0.19 |
| RACE Ferrari NV | New | 0.18% | +0.18 |
| MTSR Metsera Inc. | New | 0.14% | +0.14 |
| BSX Boston Scientific Corp. | Add +9.4% | 0.76% | +0.13 |
| SION Sionna Therapeutics Inc. | New | 0.10% | +0.10 |
| CSX CSX Corp. | Add +16.3% | 1.60% | +0.06 |
| SAIL Sailpoint Inc. | New | 0.06% | +0.06 |
| BA The Boeing Co. | Add +8.6% | 1.75% | +0.05 |
| TEVA Teva Pharmaceutical-SP ADR | Add +55.7% | 0.49% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 90 | $35.1B | V, TSM, APD, SHW, FTV |
| Q1 2026 | 77 | $35.7B | V, TSM, SCHW, DIS, FTV |
| Q4 2025 | 76 | $37.7B | MSFT, PNC, TSM, V, SCHW |
| Q3 2025 | 78 | $38.5B | PNC, JPM, SCHW, COF, MSFT |
| Q2 2025 | 83 | $34.6B | BAC, SCHW, COF, JPM, USB |
| Q1 2025 | 91 | $31.5B | USB, SCHW, BAC, UNH, INTU |
| Q4 2024 | 86 | $30.9B | JPM, USB, V, BAC, SCHW |
| Q3 2024 | 83 | $27.4B | USB, ADBE, AAPL, PM, V |
| Q2 2024 | 82 | $26.0B | AMZN, ADBE, PM, MSFT, APG |
| Q1 2024 | 83 | $26.9B | V, WDAY, AMZN, PM, APG |