Viking Global

Q2 2025 13F · by Andreas Halvorsen, CEO

As of: Jun 30, 2025
Filed: Aug 14, 2025
US stock: $34.6B · prev $31.5B
Positions: 83 · prev 91
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves100 since the prior filing

+31.3 pp in · −31.6 pp out

New 20 +14.04 pp
Added 34 +17.31 pp
Trimmed 18 −7.85 pp
Exited 28 −23.74 pp

The book

Diversified · behaves like 51 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 133% a year, about 0.8 years per position

Low
Moderate
High

Top 5 positions18% of US stock

Positions83 in this filing · 28 exited


BACBank of America Corporation	4.27%	31,246,972	$1.5B	trimmed−3%	0.00 pp	4 q
SCHWThe Charles Schwab Corporation	4.16%	15,773,225	$1.4B	trimmed−11%	−0.25 pp	4 q
COFCapital One Financial	3.49%	5,671,358	$1.2B	added+24%	+0.87 pp	2 q
JPMJPMorgan Chase & Co.	3.39%	4,042,034	$1.2B	added+86%	+1.70 pp	5 q
USBU.S. Bancorp	3.15%	24,089,428	$1.1B	trimmed−31%	−1.53 pp	7 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	2.83%	4,329,295	$981M	trimmed−11%	+0.25 pp	3 q
MCDMcDonald's Corporation	2.64%	3,125,432	$913M	added×2.7	+1.50 pp	2 q
AMZNAmazon.Com Inc	2.47%	3,897,092	$855M	added+43%	+0.82 pp	41 q
FTVFortive Corporation	2.40%	15,912,624	$830M	added+23%	−0.61 pp	24 q
BBIOBridgeBio Pharma, Inc.	2.32%	18,555,375	$801M	trimmed−16%	−0.10 pp	25 q
DISThe Walt Disney Company	2.10%	5,848,066	$725M	new	+2.10 pp	new
HCAHCA Healthcare, Inc.	2.07%	1,872,133	$717M	added+58%	+0.77 pp	7 q
TMUST-Mobile US, Inc.	1.96%	2,845,316	$678M	added+82%	+0.63 pp	7 q
BMRNBioMarin Pharmaceuticals Inc	1.95%	12,288,611	$676M	added+14%	−0.48 pp	15 q
SHWThe Sherwin-Williams Company	1.94%	1,957,750	$672M	added×2.0	+0.86 pp	5 q
FLUTFlutter Entertainment plc	1.89%	2,284,905	$653M	trimmed−11%	+0.09 pp	4 q
GMGeneral Motors Company	1.85%	13,018,874	$641M	added+81%	+0.78 pp	3 q
PMPhilip Morris International Inc.	1.82%	3,454,186	$629M	added+7%	+0.20 pp	9 q
CORCencora, Inc.	1.80%	2,081,732	$624M	added+95%	+0.86 pp	2 q
AMTAmerican Tower Corporation	1.79%	2,797,125	$618M	added×3.3	+1.21 pp	3 q
CSXCSX Corporation	1.78%	18,871,882	$616M	added+11%	+0.18 pp	11 q
APDAir Products & Chemicals, Inc.	1.76%	2,154,154	$608M	new	+1.76 pp	new
ROSTRoss Stores Inc	1.75%	4,747,639	$606M	added+10%	0.00 pp	3 q
BABoeing Company	1.72%	2,835,065	$594M	trimmed−12%	−0.03 pp	3 q
APGAPi Group Corporation	1.70%	11,537,518	$589M	trimmed−46%	−0.75 pp	21 q
NVDANvidia Corp	1.68%	3,681,935	$582M	trimmed−44%	−0.57 pp	5 q
PRMBPrimo Brands Corporation	1.68%	19,602,116	$581M	added×3.9	+1.11 pp	2 q
DHRDanaher Corporation	1.66%	2,907,515	$574M	added×6.4	+1.37 pp	2 q
VVISA Inc.	1.66%	1,620,722	$575M	trimmed−24%	−0.71 pp	4 q
SESea Limited	1.64%	3,536,987	$566M	trimmed−15%	−0.08 pp	2 q
QCOMQualcomm Inc	1.45%	3,152,866	$502M	added×2.2	+0.75 pp	3 q
RRXRegal Rexnord Corporation	1.44%	3,430,128	$497M	added+26%	+0.45 pp	7 q
NKENike, Inc.	1.43%	6,967,198	$495M	added+26%	+0.31 pp	2 q
PNCPNC Financial Services Group	1.28%	2,375,664	$443M	new	+1.28 pp	new
ROIVRoivant Sciences Ltd.	1.12%	34,237,779	$386M	trimmed−26%	−0.36 pp	15 q
TICTIC Solutions, Inc	1.10%	34,360,000	$379M	held	—	2 q
FSLRFirst Solar, Inc.	1.08%	2,266,050	$375M	added+61%	+0.51 pp	2 q
CCLCarnival Corporation Ltd.	1.07%	13,207,267	$371M	added+6%	+0.30 pp	2 q
XYZBlock, Inc.	1.06%	5,420,475	$368M	new	+1.06 pp	new
CVNACarvana Co.	1.05%	1,077,976	$363M	trimmed−58%	−0.65 pp	5 q
DHID.R. Horton Inc.	1.05%	2,827,032	$364M	added×2.1	+0.50 pp	2 q
RACEFerrari N.V.	1.02%	721,269	$354M	added×5.3	+0.84 pp	2 q
ADPTAdaptive Biotechnologies Corporation	1.01%	29,993,708	$349M	held	—	25 q
TSLATesla, Inc.	1.01%	1,100,331	$350M	added×3.1	+0.72 pp	2 q
BSXBoston Scientific Corp.	0.95%	3,045,764	$327M	added+28%	+0.19 pp	4 q
LLYEli Lilly & Co.	0.94%	416,918	$325M	new	+0.94 pp	new
CMGChipotle Mexican Grill, Inc.	0.92%	5,688,483	$319M	trimmed−5%	−0.04 pp	2 q
CPTCamden Property Trust	0.88%	2,716,022	$306M	trimmed−3%	−0.20 pp	6 q
LENLennar Corporation Class A	0.81%	2,523,594	$279M	added+87%	+0.32 pp	2 q
AMDAdvanced Micro Devices	0.78%	1,910,571	$271M	new	+0.78 pp	new
CSGPCoStar Group Inc	0.75%	3,218,568	$259M	new	+0.75 pp	new
RALRalliant Corporation	0.74%	5,304,195	$257M	new	+0.74 pp	new
AJGArthur J. Gallagher & Co.	0.67%	725,795	$232M	added+9%	−0.06 pp	2 q
SAIASaia, Inc.	0.66%	827,659	$227M	new	+0.66 pp	new
BLKBlackrock, Inc.	0.59%	195,104	$205M	new	+0.59 pp	new
METAMeta Platforms, Inc. Class A	0.57%	265,499	$196M	trimmed−82%	−2.11 pp	2 q
TEVATeva Pharmaceutical Industries Limited	0.57%	11,681,333	$196M	added+15%	+0.08 pp	4 q
TTDThe Trade Desk, Inc.	0.56%	2,674,320	$193M	new	+0.56 pp	new
CARTMaplebear Inc.	0.49%	3,752,924	$170M	new	+0.49 pp	new
CMECME Group Inc.	0.48%	597,374	$165M	new	+0.48 pp	new
ITGRInteger Holdings Corporation	0.46%	1,283,965	$158M	added+9%	+0.02 pp	6 q
AIGAmerican International Group, Inc.	0.45%	1,815,785	$155M	new	+0.45 pp	new
JCIJohnson Controls International plc	0.44%	1,450,812	$153M	new	+0.44 pp	new
ASAmer Sports, Inc.	0.43%	3,880,649	$150M	added+65%	+0.23 pp	2 q
APPApplovin Corporation Class A	0.38%	372,973	$131M	added×2.7	+0.26 pp	3 q
MASIMasimo Corporation	0.37%	767,426	$129M	new	+0.37 pp	new
NAMSNewAmsterdam Pharma Company N.V.	0.37%	6,978,534	$126M	held	—	11 q
RYANRyan Specialty Holdings, Inc.	0.28%	1,412,767	$96M	added+48%	+0.06 pp	2 q
RPRXRoyalty Pharma plc Class A	0.27%	2,597,460	$94M	trimmed−75%	−0.77 pp	21 q
UBSUBS Group AG	0.25%	2,580,412	$87M	new	+0.25 pp	new
MOHMolina Healthcare, Inc.	0.23%	267,421	$80M	new	+0.23 pp	new
LABStandard BioTools Inc.	0.20%	58,651,170	$70M	held	—	6 q
ORICOric Pharmaceuticals, Inc.	0.19%	6,572,700	$67M	held	—	6 q
PHVSPharvaris N.V.	0.19%	3,653,310	$64M	held	—	18 q
SIONSionna Therapeutics, Inc.	0.16%	3,195,181	$55M	added+8%	+0.06 pp	2 q
unresolvedMetsera Inc	0.13%	1,616,612	$46M	held	—	2 q
DNAGinkgo Bioworks Holdings, Inc.	0.12%	3,577,128	$40M	held	—	16 q
HQYHealthEquity, Inc	0.07%	219,746	$23M	new	+0.07 pp	new
INBXInhibrx Biosciences, Inc.	0.07%	1,787,705	$26M	held	—	20 q
ESTAEstablishment Labs Holdings Inc.	0.04%	343,465	$15M	new	+0.04 pp	new
TRVITrevi Therapeutics, Inc.	0.02%	1,543,000	$8M	trimmed−52%	−0.04 pp	12 q
PEPGPepGen Inc.	0.00%	1,482,434	$2M	held	—	13 q
unresolvedRallybio Corp	0.00%	4,194,777	$1M	held	—	16 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	—	−2,137,806	—	exited	−3.56 pp	—
INTUIntuit Inc	—	−1,706,420	—	exited	−3.33 pp	—
NFLXNetFlix Inc	—	−749,431	—	exited	−2.22 pp	—
CBChubb Limited	—	−1,949,065	—	exited	−1.87 pp	—
ICEIntercontinental Exchange Inc.	—	−3,200,409	—	exited	−1.75 pp	—
DBDeutsche Bank Aktiengesellschaft	—	−15,106,082	—	exited	−1.13 pp	—
ALLThe Allstate Corporation	—	−1,703,403	—	exited	−1.12 pp	—
DASHDoorDash, Inc. Class A	—	−1,858,037	—	exited	−1.08 pp	—
SKAASkechers USA Inc-cl A	—	−5,800,882	—	exited	−1.05 pp	—
PGRProgressive Corporation	—	−1,068,406	—	exited	−0.96 pp	—
SNPSSynopsys Inc	—	−703,912	—	exited	−0.96 pp	—
MSFTMicrosoft Corp	—	−683,918	—	exited	−0.82 pp	—
MAAMid-America Apartment Communities, Inc.	—	−1,120,651	—	exited	−0.60 pp	—
EQHEquitable Holdings, Inc.	—	−3,279,559	—	exited	−0.54 pp	—
MNSTMonster Beverage Corporation	—	−2,857,800	—	exited	−0.53 pp	—
MTBM&T Bank Corp.	—	−746,309	—	exited	−0.42 pp	—
TRUTransUnion	—	−1,336,984	—	exited	−0.35 pp	—
SPOTSpotify Technology S.A.	—	−192,877	—	exited	−0.34 pp	—
ADSKAutodesk Inc	—	−304,494	—	exited	−0.25 pp	—
BNTXBioNTech SE	—	−879,972	—	exited	−0.25 pp	—
REGNRegeneron Pharmaceuticals Inc	—	−97,739	—	exited	−0.20 pp	—
TVTXTravere Therapeutics, Inc.	—	−2,601,922	—	exited	−0.15 pp	—
TWLOTwilio Inc.	—	−255,514	—	exited	−0.08 pp	—
IMVTImmunovant, Inc.	—	−1,114,827	—	exited	−0.06 pp	—
SAILSailPoint, Inc.	—	−1,010,307	—	exited	−0.06 pp	—
EWTXEdgewise Therapeutics, Inc.	—	−490,035	—	exited	−0.03 pp	—
METMetLife, Inc.	—	−84,312	—	exited	−0.02 pp	—
LILi Auto Inc.	—	−96,031	—	exited	−0.01 pp	—