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Viking Global Investors Portfolio holdings
AUM
$35.7B
1-Year Est. Return
21.3%
This Fund
S&P 500
This Quarter
Est. Return
+6.6%
1 Year Est. Return
+21.3%
3 Year Est. Return
+91.13%
5 Year Est. Return
+89.39%
10 Year Est. Return
+464.55%
AUM
$38.5B
AUM Growth
+$3.92B
(+11%)
Cap. Flow
+$2.4B
Cap. Flow
% of AUM
6.23%
Top 10 Holdings %
Top 10 Hldgs %
33.59%
Holding
98
New
15
Increased
31
Reduced
22
Closed
20
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$1.24B |
| 2 |
PNC Financial Services
PNC
|
+$1.1B |
| 3 |
DraftKings
DKNG
|
+$665M |
| 4 |
Netflix
NFLX
|
+$611M |
| 5 |
Johnson Controls International
JCI
|
+$571M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
US Bancorp
USB
|
+$1.09B |
| 2 |
Bank of America
BAC
|
+$963M |
| 3 |
Amazon
AMZN
|
+$855M |
| 4 |
Flutter Entertainment
FLUT
|
+$653M |
| 5 |
American Tower
AMT
|
+$618M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 26.93% |
| 2 | Consumer Discretionary | 16.3% |
| 3 | Healthcare | 13.91% |
| 4 | Technology | 13.08% |
| 5 | Industrials | 9.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
PepGen
PEPG
$204M
| $16.1M | 0.04% |
3,482,434
+2,000,000
| +135% | +$3.22M |
|
77
Establishment Labs
ESTA
$2.24B
| $14.1M | 0.04% |
343,465
| – | – |
|
78
Rallybio
RLYB
$88.3M
| $2.09M | 0.01% |
524,347
| – | – |
|
79
American International
AIG
$39.9B
| – | – |
-1,815,785
| Closed | -$155M |
|
80
Arthur J. Gallagher & Co
AJG
$65.5B
| – | – |
-725,795
| Closed | -$232M |
|
|
81
American Tower
AMT
$79.9B
| – | – |
-2,797,125
| Closed | -$618M |
|
|
82
Amazon
AMZN
$2.9T
| – | – |
-3,897,092
| Closed | -$855M |
|
83
Carnival Corporation Ltd
CCL
$38.1B
| – | – |
-13,207,267
| Closed | -$371M |
|
84
CME Group
CME
$94.6B
| – | – |
-597,374
| Closed | -$165M |
|
85
D.R. Horton
DHI
$41B
| – | – |
-2,827,032
| Closed | -$364M |
|
86
HealthEquity
HQY
$8.81B
| – | – |
-219,746
| Closed | -$23M |
|
87
Lennar Class A
LEN
$20.7B
| – | – |
-2,523,594
| Closed | -$279M |
|
88
Eli Lilly
LLY
$1.09T
| – | – |
-416,918
| Closed | -$325M |
|
89
Molina Healthcare
MOH
$10.6B
| – | – |
-267,421
| Closed | -$79.7M |
|
90
NVIDIA
NVDA
$5.4T
| – | – |
-3,681,935
| Closed | -$582M |
|
91
Qualcomm
QCOM
$171B
| – | – |
-3,152,866
| Closed | -$502M |
|
92
Ferrari
RACE
$71.4B
| – | – |
-721,269
| Closed | -$354M |
|
93
Royalty Pharma
RPRX
$26.1B
| – | – |
-2,597,460
| Closed | -$93.6M |
|
94
Trade Desk
TTD
$6.28B
| – | – |
-2,674,320
| Closed | -$193M |
|
|
95
US Bancorp
USB
$101B
| – | – |
-24,089,428
| Closed | -$1.09B |
|
|
96
Flutter Entertainment
FLUT
$16.8B
| – | – |
-2,284,905
| Closed | -$653M |
|
|
XYZ
97
Block Inc
XYZ
$46.7B
| – | – |
-5,420,475
| Closed | -$368M |
|
|
MTSR
98
DELISTED
Metsera Inc
MTSR
| – | – |
-1,616,612
| Closed | -$46M |
|
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Viking Global Investors's Q3 2025 Portfolio in Review
As of Q3 2025, Viking Global Investors held 98 positions worth $38.5B, up 11% from $34.6B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Viking Global Investors deployed $2.4B of net new capital in Q3 2025, opening 15 new positions and adding to 31 existing holdings. Its largest new stake was Microsoft: 2,429,412 shares worth $1.26B.
By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was Bank of America, an estimated $963M trimmed.
- Viking Global Investors's largest Q3 2025 buy was Microsoft: 2,429,412 shares worth $1.26B.
- Viking Global Investors added most to PNC Financial Services in Q3 2025, an estimated $1.1B increase.
- Viking Global Investors's biggest Q3 2025 reduction was Bank of America, cutting an estimated $963M.
- Viking Global Investors fully exited US Bancorp in Q3 2025, selling an estimated $1.09B.
- Viking Global Investors's ten largest holdings make up 34% of its $38.5B portfolio in Q3 2025.
- Viking Global Investors opened 15 new positions and closed 20 in Q3 2025.
- Viking Global Investors's portfolio value rose 11% quarter-over-quarter to $38.5B.
Based on Viking Global Investors's 13F filing for Q3 2025, filed 14 Nov 2025.