Viking Global Investors LP
Reported US equity positions for Q1 2026 — $35.7B across 77 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| V Visa Inc. | $1.9B | 5.4% | 6,328,185 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $1.5B | 4.2% | 4,465,127 |
| SCHW The Charles Schwab Corporation | $1.4B | 3.9% | 14,664,954 |
| DIS The Walt Disney Company | $1.3B | 3.6% | 13,298,462 |
| FTV Fortive Corporation | $1.2B | 3.5% | 22,479,388 |
| APD Air Products and Chemicals, Inc. | $1.2B | 3.3% | 4,104,095 |
| MCD McDonald's Corporation | $1.1B | 3.2% | 3,625,029 |
| SHW The Sherwin-Williams Company | $997.8M | 2.8% | 3,112,767 |
| TSLA Tesla, Inc. | $927.0M | 2.6% | 2,493,561 |
| AAPL Apple Inc. | $911.9M | 2.6% | 3,593,057 |
| BBIO BridgeBio Pharma, Inc. | $879.4M | 2.5% | 11,842,434 |
| CVNA Carvana Co. Class A | $874.0M | 2.4% | 2,780,035 |
| MSFT Microsoft Corporation | $854.9M | 2.4% | 2,309,446 |
| TMO Thermo Fisher Scientific Inc | $819.9M | 2.3% | 1,668,025 |
| JPM JP Morgan Chase & Co. | $795.4M | 2.2% | 2,704,018 |
| CSX CSX Corporation | $766.7M | 2.1% | 18,678,052 |
| ICE Intercontinental Exchange Inc. | $760.7M | 2.1% | 4,836,896 |
| LII Lennox International, Inc. | $729.8M | 2.0% | 1,572,419 |
| GOOGL Alphabet Inc. | $689.0M | 1.9% | 2,395,865 |
| FDX FedEx Corporation | $688.2M | 1.9% | 1,932,165 |
| GM General Motors Company | $683.7M | 1.9% | 9,176,943 |
| BA The Boeing Company | $636.1M | 1.8% | 3,196,041 |
| PNC The PNC Financial Services Group, Inc. | $629.9M | 1.8% | 3,027,092 |
| TMUS T-Mobile US, Inc. | $623.2M | 1.7% | 2,967,374 |
| META Meta Platforms, Inc. | $607.9M | 1.7% | 1,062,575 |
| RRX Regal Rexnord Corporation | $588.5M | 1.6% | 3,142,851 |
| MAA Mid-America Apartment Communities, Inc. | $586.0M | 1.6% | 4,798,404 |
| G51502105 Johnson Controls Internation | $578.8M | 1.6% | 4,419,923 |
| MDLN Medline INC | $508.8M | 1.4% | 11,433,992 |
| HCA HCA Healthcare, Inc. | $508.8M | 1.4% | 1,075,133 |
| ATI ATI Inc. | $484.8M | 1.4% | 3,332,843 |
| CLS Celestica, Inc. | $466.2M | 1.3% | 1,654,989 |
| CPT Camden Property Trust | $460.5M | 1.3% | 4,715,394 |
| H1467J104 Chubb LTD Switz | $422.1M | 1.2% | 1,295,011 |
| ADPT Adaptive Biotechnologies Corporation | $416.3M | 1.2% | 29,993,708 |
| BMRN BioMarin Pharmaceutical Inc. | $398.9M | 1.1% | 7,062,077 |
| SE Sea Limited American Preferred | $392.3M | 1.1% | 4,737,196 |
| WAT Waters Corporation | $374.2M | 1.0% | 1,256,462 |
| CCL1EUR Carnival Corp | $355.1M | 1.0% | 13,721,348 |
| G0403H108 Aon PLC | $350.9M | 1.0% | 1,087,114 |
| HAS Hasbro, Inc. | $350.0M | 1.0% | 3,738,902 |
| RDDT Reddit, Inc. Class A | $343.6M | 1.0% | 2,551,617 |
| PGR The Progressive Corporation | $320.5M | 0.9% | 1,616,559 |
| AIG American International Group, Inc. | $317.6M | 0.9% | 4,221,223 |
| COF Capital One Financial Corporation | $294.1M | 0.8% | 1,612,374 |
| DKS Dick's Sporting Goods Inc | $250.7M | 0.7% | 1,264,170 |
| AMZN Amazon.com, Inc. | $249.0M | 0.7% | 1,195,428 |
| G0260P102 Amer Sports INC | $239.3M | 0.7% | 7,270,476 |
| APG APi Group Corporation | $236.5M | 0.7% | 5,837,000 |
| TIC Tic Solutions INC | $235.7M | 0.7% | 35,824,562 |
| CBOE Cboe Global Markets, Inc. | $193.5M | 0.5% | 688,417 |
| G76279101 Roivant Sciences LTD | $184.3M | 0.5% | 6,652,448 |
| HD The Home Depot, Inc. | $165.8M | 0.5% | 504,257 |
| AJG Arthur J. Gallagher & Co. | $157.5M | 0.4% | 727,441 |
| LULU lululemon athletica inc. | $150.1M | 0.4% | 980,568 |
| N62509109 Newamsterdam Pharma Company | $134.6M | 0.4% | 4,203,567 |
| ORKA Oruka Therapeutics, Inc. | $130.8M | 0.4% | 2,666,690 |
| SION Sionna Therapeutics INC | $128.1M | 0.4% | 3,195,181 |
| N82405106 Stellantis N.V | $111.9M | 0.3% | 15,980,268 |
| CRWV Coreweave INC | $108.3M | 0.3% | 1,397,438 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| AAPL Apple Inc. | New | $911.9M | — | — |
| FDX FedEx Corporation | New | $688.2M | — | — |
| META Meta Platforms, Inc. | New | $607.9M | — | — |
| ATI ATI Inc. | New | $484.8M | — | — |
| WAT Waters Corporation | New | $374.2M | — | — |
| HAS Hasbro, Inc. | New | $350.0M | — | — |
| RDDT Reddit, Inc. Class A | New | $343.6M | — | — |
| AIG American International Group, Inc. | New | $317.6M | — | — |
| CBOE Cboe Global Markets, Inc. | New | $193.5M | — | — |
| HD The Home Depot, Inc. | New | $165.8M | — | — |
| LULU lululemon athletica inc. | New | $150.1M | — | — |
| CRWV Coreweave INC | New | $108.3M | — | — |
| MANE Veradermics INC | New | $106.8M | — | — |
| IBKR Interactive Brokers Group, Inc. | New | $93.5M | — | — |
| EW Edwards Lifesciences Corporation | New | $87.9M | — | — |
| 36322Q206 Damora Therapeutics INC | New | $59.9M | — | — |
| TWLO Twilio Inc. Class A | New | $56.7M | — | — |
| EQPT Equipmentshare Com INC | New | $20.4M | — | — |
| FPS Forgent Power Solutions INC | New | $19.0M | — | — |
| RLYB Rallybio Corp | New | $4.7M | — | — |
| AMD Advanced Micro Devices, Inc. | Exit | — | $801.4M | -100% |
| DKNG DraftKings Inc. | Exit | — | $658.9M | -100% |
| ROST Ross Stores, Inc. | Exit | — | $570.6M | -100% |
| CHWY Chewy, Inc. Class A | Exit | — | $447.4M | -100% |
| H42097107 Ubs Group Ag | Exit | — | $426.0M | -100% |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | Exit | — | $395.2M | -100% |
| SAIA Saia, Inc. | Exit | — | $355.4M | -100% |
| TW Tradeweb Markets Inc. | Exit | — | $297.7M | -100% |
| BAC Bank of America Corporation | Exit | — | $247.2M | -100% |
| BSX Boston Scientific Corporation | Exit | — | $239.3M | -100% |
| DLR Digital Realty Trust, Inc. | Exit | — | $233.3M | -100% |
| LOW Lowe's Companies, Inc. | Exit | — | $219.9M | -100% |
| FIG Figma INC | Exit | — | $215.0M | -100% |
| ITUB Itau Unibanco Banco Holding SA American Preferred | Exit | — | $203.3M | -100% |
| RIOT Riot Platforms, Inc. | Exit | — | $157.5M | -100% |
| IQV IQVIA Holdings, Inc. | Exit | — | $139.6M | -100% |
| CSGP CoStar Group, Inc. | Exit | — | $97.0M | -100% |
| MASI* Masimo Corp | Exit | — | $66.9M | -100% |
| 75120L100 Rallybio Corp | Exit | — | $2.9M | -100% |
| V Visa Inc. | Add | $1.9B | $1.4B | +59% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.