VIKING GLOBAL INVESTORS LP 13F: Quarter-over-Quarter Portfolio Changes
VIKING GLOBAL INVESTORS LP reported a disclosed portfolio value of approximately $37.7 billion in its latest SEC Form 13F-HR filing for Q4 2025, down 2.1% quarter on quarter. Over the quarter, the fund initiated 21 new positions, bought more shares in 17 holdings, trimmed 29 holdings, and exited 23 positions.
VIKING GLOBAL INVESTORS LP's top buy was a new stake in Alphabet Cl a (GOOGL) , equal to 2.2% of the disclosed portfolio. Its top sell was Blackrock INC (BLK) . The fund exited the position completely after it had accounted for 1.9% of the previous portfolio.
New PositionsQ4 2025
Securities disclosed for the first time in Q4 2025 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| ALPHABET CL A | GOOGL | 2.2% | Holders → |
| INTERCONTINENTAL EXCHANGE IN | ICE | 2.1% | Holders → |
| AMAZON.COM | AMZN | 1.9% | Holders → |
| DICK'S SPORTING GOODS INC | DKS | 1.4% | Holders → |
| THERMO FISHER SCIENTIFIC INC | TMO | 1.2% | Holders → |
| STELLANTIS N.V | STLA | 1.2% | Holders → |
| CARNIVAL CORP | CCL | 1.1% | Holders → |
| UNITEDHEALTH GROUP | UNH | 1.0% | Holders → |
| CHUBB LIMITED | CB | 0.8% | Holders → |
| PROGRESSIVE CORP | PGR | 0.8% | Holders → |
| LENNOX INTL INC | LII | 0.8% | Holders → |
| TRADEWEB MKTS | TW | 0.8% | Holders → |
| MEDLINE INC | MDLN | 0.8% | Holders → |
| ARTHUR J. GALLAGHER | AJG | 0.7% | Holders → |
| DIGITAL RLTY TR INC | DLR | 0.6% | Holders → |
| LOWES COS INC | LOW | 0.6% | Holders → |
| FIGMA INC | FIG | 0.6% | Holders → |
| ITAU UNIBANCO HLDG S A | ITUB | 0.5% | Holders → |
| RIOT PLATFORMS INC | RIOT | 0.4% | Holders → |
| IQVIA HLDGS INC (IQV) | IQV | 0.4% | Holders → |
| WEST PHARMACEUTICAL SERVICES I | WST | 0.2% | Holders → |
Top BuysQ4 2025
Showing the top 10 buys among 17 existing positions where the fund bought more shares in Q4 2025. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| CHEWY INC | CHWY | +0.6% | +146.9% | Holders → |
| ROSS STORES INC | ROST | +0.7% | +56.5% | Holders → |
| MID-AMER APT CMNTYS INC | MAA | +0.5% | +46.7% | Holders → |
| VISA | V | +1.1% | +37.5% | History → |
| MICROSOFT | MSFT | +0.9% | +32.4% | History → |
| BOEING CO | BA | +0.6% | +31.3% | Holders → |
| AIR PRODS & CHEMS INC | APD | +0.5% | +30.4% | History → |
| DRAFTKINGS INC NEW | DKNG | +0.3% | +27.4% | Holders → |
| TAIWAN SEMIC-ADR | TSM | +1.1% | +24.6% | History → |
| CAMDEN PPTY TR | CPT | +0.3% | +23.9% | Holders → |
Top SellsQ4 2025
Showing the top 10 sells among 29 existing positions where the fund sold shares in Q4 2025. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| ROIVANT SCIENCES LTD | ROIV | -0.6% | 72.7% | Holders → |
| JPMORGAN | JPM | -2.5% | 62.3% | Holders → |
| BANK OF AMER CORP | BAC | -0.9% | 60.9% | Holders → |
| CAPITAL ONE FINL CORP | COF | -2.2% | 60.0% | Holders → |
| MASIMO CORP | MASI | -0.2% | 52.1% | Holders → |
| CARVANA CO | CVNA | -0.9% | 49.5% | Holders → |
| GENERAL MTRS CO | GM | -0.6% | 47.8% | Holders → |
| AON PLC | AON | -0.6% | 44.6% | Holders → |
| RALLIANT CORP | RAL | -0.1% | 37.8% | Holders → |
| TREVI THERAPEUTICS INC | TRVI | -0.0% | 37.6% | Holders → |
Full ExitsQ4 2025
Positions present in the prior 13F-HR filing that no longer appear in Q4 2025.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| BLACKROCK INC | BLK | 1.9% |
| PHILIP MORRIS INTL INC | PM | 1.9% |
| META PLATFORMS INC | META | 1.8% |
| NIKE INC | NKE | 1.6% |
| NETFLIX INC. | NFLX | 1.6% |
| CENCORA INC | COR | 1.4% |
| DANAHER | DHR | 1.4% |
| PRIMO BRANDS CORPORATION | PRMB | 1.3% |
| KKR & CO INC | KKR | 0.9% |
| CHIPOTLE MEXICAN GRILL INC | CMG | 0.7% |
| EDWARDS LIFESCIENCES CORP | EW | 0.6% |
| DEUTSCHE BK AG | DB | 0.6% |
| CBRE GROUP INC | CBRE | 0.5% |
| INTUIT | INTU | 0.5% |
| DECKERS OUTDOOR CORP | DECK | 0.5% |
| FIRST SOLAR INC | FSLR | 0.4% |
| APPLOVIN CORP | APP | 0.3% |
| RYAN SPECIALTY HOLDINGS | RYAN | 0.3% |
| INTEGER HLDGS CORP | ITGR | 0.3% |
| TEVA PHARMACEUTICAL INDS LTD | TEVA | 0.1% |
| STUBHUB HLDGS INC | STUB | 0.1% |
| MAPLEBEAR INC | CART | 0.1% |
| ESTABLISHMENT LABS HLDGS INC | ESTA | 0.0% |
Net Portfolio Value ChangeQ4 2025
- $38.5BPrior quarter
- $37.7BCurrent quarter
- $-0.8BNet delta
- -2.1%% change
Methodology & FAQ
How VIKING GLOBAL INVESTORS LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for VIKING GLOBAL INVESTORS LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did VIKING GLOBAL INVESTORS LP buy in Q4 2025?
In Q4 2025, VIKING GLOBAL INVESTORS LP initiated 21 new positions (ALPHABET CL A (GOOGL), INTERCONTINENTAL EXCHANGE IN (ICE), AMAZON.COM (AMZN), DICK'S SPORTING GOODS INC (DKS), THERMO FISHER SCIENTIFIC INC (TMO), STELLANTIS N.V (STLA), CARNIVAL CORP (CCL), UNITEDHEALTH GROUP (UNH), CHUBB LIMITED (CB), PROGRESSIVE CORP (PGR), LENNOX INTL INC (LII), TRADEWEB MKTS (TW), MEDLINE INC (MDLN), ARTHUR J. GALLAGHER (AJG), DIGITAL RLTY TR INC (DLR), LOWES COS INC (LOW), FIGMA INC (FIG), ITAU UNIBANCO HLDG S A (ITUB), RIOT PLATFORMS INC (RIOT), IQVIA HLDGS INC (IQV) (IQV), WEST PHARMACEUTICAL SERVICES I (WST)); bought more shares of CHEWY INC (CHWY), ROSS STORES INC (ROST), MID-AMER APT CMNTYS INC (MAA), VISA (V), MICROSOFT (MSFT) — the largest 5 of 17 adds.
What stocks did VIKING GLOBAL INVESTORS LP sell in Q4 2025?
In Q4 2025, VIKING GLOBAL INVESTORS LP fully sold 23 positions (BLACKROCK INC (BLK), PHILIP MORRIS INTL INC (PM), META PLATFORMS INC (META), NIKE INC (NKE), NETFLIX INC. (NFLX), CENCORA INC (COR), DANAHER (DHR), PRIMO BRANDS CORPORATION (PRMB), KKR & CO INC (KKR), CHIPOTLE MEXICAN GRILL INC (CMG), EDWARDS LIFESCIENCES CORP (EW), DEUTSCHE BK AG (DB), CBRE GROUP INC (CBRE), INTUIT (INTU), DECKERS OUTDOOR CORP (DECK), FIRST SOLAR INC (FSLR), APPLOVIN CORP (APP), RYAN SPECIALTY HOLDINGS (RYAN), INTEGER HLDGS CORP (ITGR), TEVA PHARMACEUTICAL INDS LTD (TEVA), STUBHUB HLDGS INC (STUB), MAPLEBEAR INC (CART), ESTABLISHMENT LABS HLDGS INC (ESTA)); reduced holdings in ROIVANT SCIENCES LTD (ROIV), JPMORGAN (JPM), BANK OF AMER CORP (BAC), CAPITAL ONE FINL CORP (COF), MASIMO CORP (MASI) — the largest 5 of 29 reductions.
Which positions did VIKING GLOBAL INVESTORS LP initiate in Q4 2025?
VIKING GLOBAL INVESTORS LP established 21 new positions in Q4 2025: ALPHABET CL A (GOOGL, 2.2%), INTERCONTINENTAL EXCHANGE IN (ICE, 2.1%), AMAZON.COM (AMZN, 1.9%), DICK'S SPORTING GOODS INC (DKS, 1.4%), THERMO FISHER SCIENTIFIC INC (TMO, 1.2%), STELLANTIS N.V (STLA, 1.2%), CARNIVAL CORP (CCL, 1.1%), UNITEDHEALTH GROUP (UNH, 1.0%), CHUBB LIMITED (CB, 0.8%), PROGRESSIVE CORP (PGR, 0.8%), LENNOX INTL INC (LII, 0.8%), TRADEWEB MKTS (TW, 0.8%), MEDLINE INC (MDLN, 0.8%), ARTHUR J. GALLAGHER (AJG, 0.7%), DIGITAL RLTY TR INC (DLR, 0.6%), LOWES COS INC (LOW, 0.6%), FIGMA INC (FIG, 0.6%), ITAU UNIBANCO HLDG S A (ITUB, 0.5%), RIOT PLATFORMS INC (RIOT, 0.4%), IQVIA HLDGS INC (IQV) (IQV, 0.4%), WEST PHARMACEUTICAL SERVICES I (WST, 0.2%).
Which existing positions saw the largest allocation increases for VIKING GLOBAL INVESTORS LP in Q4 2025?
Of 17 existing positions with share-count increases in Q4 2025, the largest were: CHEWY INC (CHWY, +0.6% weight, +146.9% shares), ROSS STORES INC (ROST, +0.7% weight, +56.5% shares), MID-AMER APT CMNTYS INC (MAA, +0.5% weight, +46.7% shares), VISA (V, +1.1% weight, +37.5% shares), MICROSOFT (MSFT, +0.9% weight, +32.4% shares), BOEING CO (BA, +0.6% weight, +31.3% shares), AIR PRODS & CHEMS INC (APD, +0.5% weight, +30.4% shares), DRAFTKINGS INC NEW (DKNG, +0.3% weight, +27.4% shares), TAIWAN SEMIC-ADR (TSM, +1.1% weight, +24.6% shares), CAMDEN PPTY TR (CPT, +0.3% weight, +23.9% shares).
Which positions did VIKING GLOBAL INVESTORS LP fully exit in Q4 2025?
VIKING GLOBAL INVESTORS LP fully exited 23 positions in Q4 2025: BLACKROCK INC (BLK, last-reported weight 1.9%), PHILIP MORRIS INTL INC (PM, last-reported weight 1.9%), META PLATFORMS INC (META, last-reported weight 1.8%), NIKE INC (NKE, last-reported weight 1.6%), NETFLIX INC. (NFLX, last-reported weight 1.6%), CENCORA INC (COR, last-reported weight 1.4%), DANAHER (DHR, last-reported weight 1.4%), PRIMO BRANDS CORPORATION (PRMB, last-reported weight 1.3%), KKR & CO INC (KKR, last-reported weight 0.9%), CHIPOTLE MEXICAN GRILL INC (CMG, last-reported weight 0.7%), EDWARDS LIFESCIENCES CORP (EW, last-reported weight 0.6%), DEUTSCHE BK AG (DB, last-reported weight 0.6%), CBRE GROUP INC (CBRE, last-reported weight 0.5%), INTUIT (INTU, last-reported weight 0.5%), DECKERS OUTDOOR CORP (DECK, last-reported weight 0.5%), FIRST SOLAR INC (FSLR, last-reported weight 0.4%), APPLOVIN CORP (APP, last-reported weight 0.3%), RYAN SPECIALTY HOLDINGS (RYAN, last-reported weight 0.3%), INTEGER HLDGS CORP (ITGR, last-reported weight 0.3%), TEVA PHARMACEUTICAL INDS LTD (TEVA, last-reported weight 0.1%), STUBHUB HLDGS INC (STUB, last-reported weight 0.1%), MAPLEBEAR INC (CART, last-reported weight 0.1%), ESTABLISHMENT LABS HLDGS INC (ESTA, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for VIKING GLOBAL INVESTORS LP in Q4 2025?
Of 29 existing positions with share-count reductions in Q4 2025, the largest were: ROIVANT SCIENCES LTD (ROIV, -0.6% weight, -72.7% shares), JPMORGAN (JPM, -2.5% weight, -62.3% shares), BANK OF AMER CORP (BAC, -0.9% weight, -60.9% shares), CAPITAL ONE FINL CORP (COF, -2.2% weight, -60.0% shares), MASIMO CORP (MASI, -0.2% weight, -52.1% shares), CARVANA CO (CVNA, -0.9% weight, -49.5% shares), GENERAL MTRS CO (GM, -0.6% weight, -47.8% shares), AON PLC (AON, -0.6% weight, -44.6% shares), RALLIANT CORP (RAL, -0.1% weight, -37.8% shares), TREVI THERAPEUTICS INC (TRVI, -0.0% weight, -37.6% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.