Viking Global Investors
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Andreas Halvorsen's Viking Global Investors reported 76 stock positions worth $37.7 billion. Its top holding was Microsoft (MSFT) at 4.1% of the portfolio, followed by PNC Financial Services (PNC, 4.0%) and Taiwan Semiconductor-SP ADR (TSM, 4.0%). Compared with Q3 2025, it opened 21 new positions, sold out of 23, added to 17 and reduced 29. The biggest buy was a new position in Alphabet Class A (GOOGL) and the biggest sale JPMorgan Chase (JPM, shares −62%).
- Most Recent 13F
- Q2 2026
- Notable People
- Andreas Halvorsen
- Location
- STAMFORD, CT
- CIK
- 0001103804
- Portfolio Value
- $37.7B (Q4 2025)
- SEC Filing
- 0001103804-26-000002 ↗ filed Feb 17, 2026
Holdings Value
Holdings 76 stocks · $37.7B
| MSFT Microsoft Corp. | 4.13% | 3,217,642 | $1.6B | Add +32.5% |
| PNC PNC Financial Services Group | 4.04% | 7,287,068 | $1.5B | Reduce -8.4% |
| TSM Taiwan Semiconductor-SP ADR | 3.96% | 4,914,896 | $1.5B | Add +24.6% |
| V Visa Inc. Class A | 3.71% | 3,984,205 | $1.4B | Add +37.5% |
| SCHW Schwab (charles) Corp. | 3.68% | 13,872,905 | $1.4B | Reduce -16.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 3.38% | 11,193,504 | $1.3B | Add +7.1% |
| APD Air Products & Chemicals Inc. | 3.14% | 4,782,534 | $1.2B | Add +30.4% |
| MCD McDonald's Corp. | 2.94% | 3,619,215 | $1.1B | Add +7.2% |
| BBIO Bridgebio Pharma Inc. | 2.92% | 14,393,934 | $1.1B | Reduce -9.9% |
| FTV Fortive Corp. | 2.82% | 19,228,265 | $1.1B | Reduce -6.1% |
| SHW The Sherwin-Williams Co. | 2.73% | 3,172,308 | $1.0B | Add +10.1% |
| BA The Boeing Co. | 2.28% | 3,953,087 | $858.3M | Add +31.3% |
| GOOGL Alphabet Inc. Class A | 2.21% | 2,666,272 | $834.5M | New |
| AMD Advanced Micro Devices | 2.13% | 3,742,191 | $801.4M | Reduce -10.5% |
| ICE Intercontinental Exchange Inc. | 2.06% | 4,803,197 | $777.9M | New |
| TSLA Tesla Inc. | 2.03% | 1,699,741 | $764.4M | Add +5.6% |
| TMUS T-Mobile US Inc. | 2.02% | 3,754,218 | $762.3M | Add +15.1% |
| AMZN Amazon.com Inc. | 1.92% | 3,126,816 | $721.7M | New |
| COF Capital One Financial Corp. | 1.90% | 2,952,317 | $715.5M | Reduce -60.0% |
| JCI Johnson Controls Internation | 1.88% | 5,918,707 | $708.8M | Reduce -12.9% |
| DKNG Draftkings Inc. Class A | 1.75% | 19,119,912 | $658.9M | Add +27.4% |
| JPM JPMorgan Chase & Co. | 1.63% | 1,905,982 | $614.1M | Reduce -62.3% |
| ROST Ross Stores Inc. | 1.51% | 3,167,479 | $570.6M | Add +56.5% |
| GM General Motors Co. | 1.47% | 6,806,095 | $553.5M | Reduce -47.8% |
| MAA Mid-America Apartment Comm | 1.43% | 3,880,048 | $539.0M | Add +46.7% |
| CPT Camden Property Trust | 1.39% | 4,764,495 | $524.5M | Add +23.9% |
| DKS Dick's Sporting Goods Inc. | 1.35% | 2,572,969 | $509.4M | New |
| CLS Celestica Inc. | 1.33% | 1,699,236 | $502.3M | Reduce -1.4% |
| CSX CSX Corp. | 1.33% | 13,817,539 | $500.9M | Reduce -13.4% |
| ADPT Adaptive Biotechnologies | 1.29% | 29,993,708 | $487.1M | No change |
| SE Sea Ltd.-ADR | 1.24% | 3,671,545 | $468.4M | Add +20.8% |
| HCA HCA Healthcare Inc. | 1.24% | 999,180 | $466.5M | Reduce -27.6% |
| TMO Thermo Fisher Scientific Inc. | 1.22% | 793,187 | $459.6M | New |
| RRX Regal Rexnord Corp. | 1.20% | 3,223,940 | $452.4M | Add +3.2% |
| CVNA Carvana Co. | 1.19% | 1,061,533 | $448.0M | Reduce -49.5% |
| CHWY Chewy Inc. Class A | 1.19% | 13,536,645 | $447.4M | Add +146.8% |
| APG Api Group Corp. | 1.17% | 11,537,518 | $441.4M | Reduce -6.3% |
| STLA Stellantis NV | 1.15% | 39,062,551 | $434.3M | New |
| CCL Carnival Corp. | 1.14% | 14,061,827 | $429.4M | New |
| UBS UBS Group AG-Reg | 1.13% | 9,128,817 | $426.0M | Reduce -30.3% |
| UNH Unitedhealth Group Inc. | 1.05% | 1,197,273 | $395.2M | New |
| BMRN Biomarin Pharmaceutical Inc. | 0.95% | 6,036,936 | $358.8M | Reduce -27.5% |
| SAIA Saia Inc. | 0.94% | 1,088,582 | $355.4M | Reduce -21.3% |
| TIC Tic Solutions Inc. | 0.92% | 34,360,000 | $347.4M | No change |
| CB Chubb Ltd. | 0.84% | 1,013,839 | $316.4M | New |
| PGR Progressive Corp. | 0.80% | 1,331,538 | $303.2M | New |
| LII Lennox International Inc. | 0.80% | 621,311 | $301.7M | New |
| TW Tradeweb Markets Inc. Class A | 0.79% | 2,768,659 | $297.7M | New |
| MDLN Medline Inc. Class A | 0.78% | 6,959,157 | $292.3M | New |
| AON Aon PLC Class A | 0.73% | 783,650 | $276.5M | Reduce -44.6% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.71% | 1,040,977 | $269.4M | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.66% | 4,494,629 | $247.2M | Reduce -60.9% |
| BSX Boston Scientific Corp. | 0.64% | 2,509,808 | $239.3M | Reduce -5.0% |
| DLR Digital Realty Trust Inc. | 0.62% | 1,507,988 | $233.3M | New |
| LOW Lowe's Cos Inc. | 0.58% | 912,040 | $219.9M | New |
| FIG Figma Inc. Class A | 0.57% | 5,752,388 | $215.0M | New |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.54% | 28,396,545 | $203.3M | New |
| AS Amer Sports Inc. | 0.48% | 4,814,290 | $179.8M | Reduce -24.1% |
| RAL Ralliant Corp. | 0.43% | 3,162,630 | $161.0M | Reduce -37.8% |
| RIOT Riot Platforms Inc. | 0.42% | 12,428,894 | $157.5M | New |
| NAMS Newamsterdam Pharma Co. NV | 0.39% | 4,203,567 | $147.5M | Reduce -35.1% |
| ROIV Roivant Sciences Ltd. | 0.37% | 6,443,191 | $139.8M | Reduce -72.7% |
| IQV Iqvia Holdings Inc. | 0.37% | 619,236 | $139.6M | New |
| SION Sionna Therapeutics Inc. | 0.35% | 3,195,181 | $131.4M | No change |
| INBX Inhibrx Biosciences Inc. | 0.30% | 1,437,705 | $113.6M | Reduce -19.6% |
| PHVS Pharvaris NV | 0.27% | 3,653,310 | $101.4M | No change |
| CSGP Costar Group Inc. | 0.26% | 1,442,582 | $97.0M | Reduce -22.0% |
| WST West Pharmaceutical Services | 0.22% | 295,028 | $81.2M | New |
| ORKA Oruka Therapeutics Inc. | 0.21% | 2,666,690 | $80.8M | No change |
| LAB Standard Biotools Inc. | 0.20% | 58,651,170 | $75.1M | No change |
| MASI Masimo Corp. | 0.18% | 514,340 | $66.9M | Reduce -52.1% |
| ORIC Oric Pharmaceuticals Inc. | 0.14% | 6,572,691 | $53.8M | Reduce 0.0% |
| TRVI Trevi Therapeutics Inc. | 0.11% | 3,198,644 | $40.0M | Reduce -37.6% |
| DNA Ginkgo Bioworks Holdings Inc. | 0.08% | 3,577,128 | $29.7M | No change |
| PEPG Pepgen Inc. | 0.06% | 3,482,434 | $22.7M | No change |
| RLYB Rallybio Corp. | 0.01% | 4,194,777 | $2.9M | No change |
Portfolio Sells Q3 2025 → Q4 2025
| JPM JPMorgan Chase & Co. | Reduce -62.3% | 1.63% | −2.51 |
| COF Capital One Financial Corp. | Reduce -60.0% | 1.90% | −2.18 |
| BLK BlackRock Inc. | Sold out | 0.00% | −1.88 |
| PM Philip Morris International | Sold out | 0.00% | −1.86 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −1.77 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −1.63 |
| NFLX Netflix Inc. | Sold out | 0.00% | −1.56 |
| COR Cencora Inc. | Sold out | 0.00% | −1.44 |
| DHR Danaher Corp. | Sold out | 0.00% | −1.42 |
| PRMB Primo Brands Corp. | Sold out | 0.00% | −1.32 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −0.91 |
| BAC Bank of America Corp. | Reduce -60.9% | 0.66% | −0.88 |
| CVNA Carvana Co. | Reduce -49.5% | 1.19% | −0.87 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.68 |
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −0.62 |
| GM General Motors Co. | Reduce -47.8% | 1.47% | −0.59 |
| AON Aon PLC Class A | Reduce -44.6% | 0.73% | −0.58 |
| DB Deutsche Bank AG-Registered | Sold out | 0.00% | −0.56 |
| ROIV Roivant Sciences Ltd. | Reduce -72.7% | 0.37% | −0.56 |
| CBRE CBRE Group Inc. Class A | Sold out | 0.00% | −0.50 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.47 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.45 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.44 |
| SCHW Schwab (charles) Corp. | Reduce -16.3% | 3.68% | −0.43 |
| APP AppLovin Corp. Class A | Sold out | 0.00% | −0.30 |
| HCA HCA Healthcare Inc. | Reduce -27.6% | 1.24% | −0.29 |
| RYAN Ryan Specialty Holdings Inc. | Sold out | 0.00% | −0.28 |
| ITGR Integer Holdings Corp. | Sold out | 0.00% | −0.28 |
| UBS UBS Group AG-Reg | Reduce -30.3% | 1.13% | −0.26 |
| MASI Masimo Corp. | Reduce -52.1% | 0.18% | −0.23 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -27.5% | 0.95% | −0.22 |
| RAL Ralliant Corp. | Reduce -37.8% | 0.43% | −0.15 |
| CSGP Costar Group Inc. | Reduce -22.0% | 0.26% | −0.15 |
| CSX CSX Corp. | Reduce -13.4% | 1.33% | −0.14 |
| TEVA Teva Pharmaceutical-SP ADR | Sold out | 0.00% | −0.13 |
| SAIA Saia Inc. | Reduce -21.3% | 0.94% | −0.13 |
| PNC PNC Financial Services Group | Reduce -8.4% | 4.04% | −0.12 |
| AS Amer Sports Inc. | Reduce -24.1% | 0.48% | −0.10 |
| STUB Stubhub Holdings Inc. Class A | Sold out | 0.00% | −0.09 |
| NAMS Newamsterdam Pharma Co. NV | Reduce -35.1% | 0.39% | −0.09 |
| CART Maplebear Inc. | Sold out | 0.00% | −0.08 |
| ORIC Oric Pharmaceuticals Inc. | Reduce 0.0% | 0.14% | −0.06 |
| JCI Johnson Controls Internation | Reduce -12.9% | 1.88% | −0.06 |
| ESTA Establishment Labs Holdings | Sold out | 0.00% | −0.04 |
| BSX Boston Scientific Corp. | Reduce -5.0% | 0.64% | −0.03 |
| TRVI Trevi Therapeutics Inc. | Reduce -37.6% | 0.11% | −0.02 |
| APG Api Group Corp. | Reduce -6.3% | 1.17% | +0.07 |
| INBX Inhibrx Biosciences Inc. | Reduce -19.6% | 0.30% | +0.15 |
| FTV Fortive Corp. | Reduce -6.1% | 2.82% | +0.21 |
| CLS Celestica Inc. | Reduce -1.4% | 1.33% | +0.23 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | New | 2.21% | +2.21 |
| ICE Intercontinental Exchange Inc. | New | 2.06% | +2.06 |
| AMZN Amazon.com Inc. | New | 1.92% | +1.92 |
| DKS Dick's Sporting Goods Inc. | New | 1.35% | +1.35 |
| TMO Thermo Fisher Scientific Inc. | New | 1.22% | +1.22 |
| STLA Stellantis NV | New | 1.15% | +1.15 |
| V Visa Inc. Class A | Add +37.5% | 3.71% | +1.14 |
| CCL Carnival Corp. | New | 1.14% | +1.14 |
| TSM Taiwan Semiconductor-SP ADR | Add +24.6% | 3.96% | +1.10 |
| UNH Unitedhealth Group Inc. | New | 1.05% | +1.05 |
| MSFT Microsoft Corp. | Add +32.5% | 4.13% | +0.86 |
| CB Chubb Ltd. | New | 0.84% | +0.84 |
| PGR Progressive Corp. | New | 0.80% | +0.80 |
| LII Lennox International Inc. | New | 0.80% | +0.80 |
| TW Tradeweb Markets Inc. Class A | New | 0.79% | +0.79 |
| MDLN Medline Inc. Class A | New | 0.78% | +0.78 |
| AJG Arthur J Gallagher & Co. | New | 0.71% | +0.71 |
| ROST Ross Stores Inc. | Add +56.5% | 1.51% | +0.71 |
| DLR Digital Realty Trust Inc. | New | 0.62% | +0.62 |
| CHWY Chewy Inc. Class A | Add +146.8% | 1.19% | +0.61 |
| BA The Boeing Co. | Add +31.3% | 2.28% | +0.59 |
| LOW Lowe's Cos Inc. | New | 0.58% | +0.58 |
| FIG Figma Inc. Class A | New | 0.57% | +0.57 |
| ITUB Itau Unibanco H-Spon PRF ADR | New | 0.54% | +0.54 |
| APD Air Products & Chemicals Inc. | Add +30.4% | 3.14% | +0.54 |
| MAA Mid-America Apartment Comm | Add +46.7% | 1.43% | +0.47 |
| RIOT Riot Platforms Inc. | New | 0.42% | +0.42 |
| IQV Iqvia Holdings Inc. | New | 0.37% | +0.37 |
| CPT Camden Property Trust | Add +23.9% | 1.39% | +0.33 |
| DKNG Draftkings Inc. Class A | Add +27.4% | 1.75% | +0.29 |
| DIS The Walt Disney Co. | Add +7.1% | 3.38% | +0.27 |
| MCD McDonald's Corp. | Add +7.2% | 2.94% | +0.27 |
| WST West Pharmaceutical Services | New | 0.22% | +0.22 |
| TSLA Tesla Inc. | Add +5.6% | 2.03% | +0.17 |
| SHW The Sherwin-Williams Co. | Add +10.1% | 2.73% | +0.14 |
| RRX Regal Rexnord Corp. | Add +3.2% | 1.20% | +0.04 |
| TMUS T-Mobile US Inc. | Add +15.1% | 2.02% | −0.01 |
| SE Sea Ltd.-ADR | Add +20.8% | 1.24% | −0.17 |
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 |