whalepapers
Overview/ Viking Global Investors LP/ Q4 2025

Viking Global Investors LP

Andreas Halvorsen · As of Q4 2025 · filed Feb 17, 2026

Q4 2025

Holdings

76 positions · Δ vs prior quarter
MSFT MICROSOFT CORP
$1.56B
4.1%
3,217,642 +788,230 +32.4% Added
PNC PNC FINANCIAL SERVICES GROUP
$1.52B
4.0%
7,287,068 −669,698 −8.4% Reduced
TSM TAIWAN SEMICONDUCTOR-SP ADR
$1.49B
4.0%
4,914,896 +970,530 +24.6% Added
V VISA INC-CLASS A SHARES
$1.40B
3.7%
3,984,205 +1,087,175 +37.5% Added
SCHW SCHWAB (CHARLES) CORP
$1.39B
3.7%
13,872,905 −2,710,196 −16.3% Reduced
DIS WALT DISNEY CO
$1.27B
3.4%
11,193,504 +743,793 +7.1% Added
APD AIR PRODUCTS & CHEMICALS INC
$1.18B
3.1%
4,782,534 +1,115,415 +30.4% Added
MCD MCDONALD'S CORP
$1.11B
2.9%
3,619,215 +244,340 +7.2% Added
BBIO BRIDGEBIO PHARMA INC
$1.10B
2.9%
14,393,934 −1,583,915 −9.9% Reduced
FTV FORTIVE CORP
$1.06B
2.8%
19,228,265 −1,255,415 −6.1% Reduced
SHW SHERWIN-WILLIAMS CO
$1.03B
2.7%
3,172,308 +291,217 +10.1% Added
BA BOEING CO
$858.3M
2.3%
3,953,087 +942,536 +31.3% Added
GOOGL ALPHABET INC-CL A
$834.5M
2.2%
2,666,272 +2,666,272 New
AMD ADVANCED MICRO DEVICES
$801.4M
2.1%
3,742,191 −439,078 −10.5% Reduced
ICE INTERCONTINENTAL EXCHANGE IN
$777.9M
2.1%
4,803,197 +4,803,197 New
TSLA TESLA INC
$764.4M
2.0%
1,699,741 +89,913 +5.6% Added
TMUS T-MOBILE US INC
$762.3M
2.0%
3,754,218 +491,752 +15.1% Added
AMZN AMAZON.COM INC
$721.7M
1.9%
3,126,816 +3,126,816 New
COF CAPITAL ONE FINANCIAL CORP
$715.5M
1.9%
2,952,317 −4,436,189 −60.0% Reduced
JCI JOHNSON CONTROLS INTERNATION
$708.8M
1.9%
5,918,707 −878,235 −12.9% Reduced
DKNG DRAFTKINGS INC-CL A
$658.9M
1.7%
19,119,912 +4,116,561 +27.4% Added
JPM JPMORGAN CHASE & CO
$614.1M
1.6%
1,905,982 −3,153,078 −62.3% Reduced
ROST ROSS STORES INC
$570.6M
1.5%
3,167,479 +1,143,611 +56.5% Added
GM GENERAL MOTORS CO
$553.5M
1.5%
6,806,095 −6,221,044 −47.8% Reduced
MAA MID-AMERICA APARTMENT COMM
$539.0M
1.4%
3,880,048 +1,234,966 +46.7% Added
CPT CAMDEN PROPERTY TRUST
$524.5M
1.4%
4,764,495 +917,755 +23.9% Added
DKS DICK'S SPORTING GOODS INC
$509.4M
1.4%
2,572,969 +2,572,969 New
CLS CELESTICA INC
$502.3M
1.3%
1,699,236 −23,544 −1.4% Reduced
CSX CSX CORP
$500.9M
1.3%
13,817,539 −2,130,180 −13.4% Reduced
ADPT ADAPTIVE BIOTECHNOLOGIES
$487.1M
1.3%
29,993,708 Held
SE SEA LTD-ADR
$468.4M
1.2%
3,671,545 +632,342 +20.8% Added
HCA HCA HEALTHCARE INC
$466.5M
1.2%
999,180 −381,403 −27.6% Reduced
TMO THERMO FISHER SCIENTIFIC INC
$459.6M
1.2%
793,187 +793,187 New
RRX REGAL REXNORD CORP
$452.4M
1.2%
3,223,940 +100,678 +3.2% Added
CVNA CARVANA CO
$448.0M
1.2%
1,061,533 −1,039,708 −49.5% Reduced
CHWY CHEWY INC - CLASS A
$447.4M
1.2%
13,536,645 +8,052,955 +146.9% Added
APG API GROUP CORP
$441.4M
1.2%
11,537,518 −768,759 −6.2% Reduced
STLA STELLANTIS NV
$434.3M
1.2%
39,062,551 +39,062,551 New
CCL1EUR CARNIVAL CORP LTD
$429.4M
1.1%
14,061,827 +14,061,827 New
UBS UBS GROUP AG-REG
$426.0M
1.1%
9,128,817 −3,967,743 −30.3% Reduced
UNH UNITEDHEALTH GROUP INC
$395.2M
1.0%
1,197,273 +1,197,273 New
BMRN BIOMARIN PHARMACEUTICAL INC
$358.8M
1.0%
6,036,936 −2,285,243 −27.5% Reduced
SAIA SAIA INC
$355.4M
0.9%
1,088,582 −295,306 −21.3% Reduced
TIC TIC SOLUTIONS INC
$347.4M
0.9%
34,360,000 Held
CB CHUBB LTD
$316.4M
0.8%
1,013,839 +1,013,839 New
PGR PROGRESSIVE CORP
$303.2M
0.8%
1,331,538 +1,331,538 New
LII LENNOX INTERNATIONAL INC
$301.7M
0.8%
621,311 +621,311 New
TW TRADEWEB MARKETS INC-CLASS A
$297.7M
0.8%
2,768,659 +2,768,659 New
MDLN MEDLINE INC-CL A
$292.3M
0.8%
6,959,157 +6,959,157 New
AON AON PLC-CLASS A
$276.5M
0.7%
783,650 −630,968 −44.6% Reduced
AJG ARTHUR J GALLAGHER & CO
$269.4M
0.7%
1,040,977 +1,040,977 New
BAC BANK OF AMERICA CORP
$247.2M
0.7%
4,494,629 −7,005,661 −60.9% Reduced
BSX BOSTON SCIENTIFIC CORP
$239.3M
0.6%
2,509,808 −131,874 −5.0% Reduced
DLR DIGITAL REALTY TRUST INC
$233.3M
0.6%
1,507,988 +1,507,988 New
LOW LOWE'S COS INC
$219.9M
0.6%
912,040 +912,040 New
FIG FIGMA INC-CL A
$215.0M
0.6%
5,752,388 +5,752,388 New
ITUB ITAU UNIBANCO H-SPON PRF ADR
$203.3M
0.5%
28,396,545 +28,396,545 New
AS AMER SPORTS INC
$179.8M
0.5%
4,814,290 −1,529,191 −24.1% Reduced
RAL RALLIANT CORP
$161.0M
0.4%
3,162,630 −1,919,842 −37.8% Reduced
RIOT RIOT PLATFORMS INC
$157.5M
0.4%
12,428,894 +12,428,894 New
NAMS NEWAMSTERDAM PHARMA CO NV
$147.5M
0.4%
4,203,567 −2,271,967 −35.1% Reduced
ROIV ROIVANT SCIENCES LTD
$139.8M
0.4%
6,443,191 −17,151,640 −72.7% Reduced
IQV IQVIA HOLDINGS INC
$139.6M
0.4%
619,236 +619,236 New
SION SIONNA THERAPEUTICS INC
$131.4M
0.3%
3,195,181 Held
INBX INHIBRX BIOSCIENCES INC
$113.6M
0.3%
1,437,705 −350,000 −19.6% Reduced
PHVS PHARVARIS NV
$101.4M
0.3%
3,653,310 Held
CSGP COSTAR GROUP INC
$97.0M
0.3%
1,442,582 −407,147 −22.0% Reduced
WST WEST PHARMACEUTICAL SERVICES
$81.2M
0.2%
295,028 +295,028 New
ORKA ORUKA THERAPEUTICS INC
$80.8M
0.2%
2,666,690 Held
LAB STANDARD BIOTOOLS INC
$75.1M
0.2%
58,651,170 Held
MASI* MASIMO CORP
$66.9M
0.2%
514,340 −559,093 −52.1% Reduced
ORIC ORIC PHARMACEUTICALS INC
$53.8M
0.1%
6,572,691 −9 −0.0% Reduced
TRVI TREVI THERAPEUTICS INC
$40.0M
0.1%
3,198,644 −1,930,231 −37.6% Reduced
DNA GINKGO BIOWORKS HOLDINGS INC
$29.7M
0.1%
3,577,128 Held
PEPG PEPGEN INC
$22.7M
0.1%
3,482,434 Held
RALLYBIO CORP
$2.9M
0.0%
4,194,777 Held

Sold positions

23 closed in Q4 2025 · shares & value as of prior filing
Holding Shares sold Prior value
BLK BLACKROCK INC
619,492 $722.2M
PM PHILIP MORRIS INTERNATIONAL
4,426,128 $717.9M
META META PLATFORMS INC-CLASS A
929,003 $682.2M
NKE NIKE INC -CL B
8,996,579 $627.3M
NFLX NETFLIX INC
500,812 $600.4M
COR CENCORA INC
1,778,135 $555.7M
DHR DANAHER CORP
2,751,245 $545.5M
PRMB PRIMO BRANDS CORP
23,033,970 $509.1M
KKR KKR & CO INC
2,709,024 $352.0M
CMG CHIPOTLE MEXICAN GRILL INC
6,636,563 $260.1M
EW EDWARDS LIFESCIENCES CORP
3,069,151 $238.7M
DB DEUTSCHE BANK AG-REGISTERED
6,102,855 $214.6M
CBRE CBRE GROUP INC - A
1,210,004 $190.6M
INTU INTUIT INC
264,136 $180.4M
DECK DECKERS OUTDOOR CORP
1,726,926 $175.1M
FSLR FIRST SOLAR INC
767,996 $169.4M
APP APPLOVIN CORP-CLASS A
162,525 $116.8M
RYAN RYAN SPECIALTY HOLDINGS INC
1,934,957 $109.1M
ITGR INTEGER HOLDINGS CORP
1,024,942 $105.9M
TEVA TEVA PHARMACEUTICAL-SP ADR
2,532,119 $51.1M
STUB STUBHUB HOLDINGS INC-CLASS A
2,040,816 $34.4M
CART MAPLEBEAR INC
832,857 $30.6M
ESTA ESTABLISHMENT LABS HOLDINGS
343,465 $14.1M

Holdings reflect long positions disclosed in 13F filings only and exclude short positions, cash, and other non-13F assets. Holdings data sourced from SEC EDGAR. Not investment advice. Full disclaimer.