Fund Holdings — VIKING GLOBAL INVESTORS LP

Total Portfolio Value
$38.50B
Total Bought
$13.89B
Total Sold
$10.10B
Net Transaction
+$3.79B
Filing Period:
Securities
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SharesValue ($K)
Q2 2025
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Q3 2025
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Change
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Q2 2025
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Q3 2025
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Weight (%)
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Change
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MICROSOFT CORP(MSFT)02,429,412+2,429,41201,258,3143.27%+1,258,314
PNC FINL SVCS GROUP INC(PNC)2,375,6647,956,766+5,581,102442,8711,598,7534.15%+1,155,882
NETFLIX INC(NFLX)0500,812+500,8120600,4341.56%+600,434
JOHNSON CTLS INTL PLC
SHS
1,450,8126,796,942+5,346,130153,235747,3241.94%+594,089
DRAFTKINGS INC NEW(DKNG)015,003,351+15,003,3510561,1251.46%+561,125
BLACKROCK INC(BLK)195,104619,492+424,388204,713722,2471.88%+517,534
AON PLC(AON)01,414,618+1,414,6180504,4241.31%+504,424
META PLATFORMS INC(META)265,499929,003+663,504195,962682,2411.77%+486,279
DISNEY WALT CO(DIS)5,848,06610,449,711+4,601,645725,2191,196,4923.11%+471,273
UBS GROUP AG(UBS)2,580,41213,096,560+10,516,14887,320534,8521.39%+447,532
CARVANA CO(CVNA)1,077,9762,101,241+1,023,265363,235792,6722.06%+429,437
CELESTICA INC(CLS)01,722,780+1,722,7800424,4591.10%+424,459
JPMORGAN CHASE & CO.(JPM)4,042,0345,059,060+1,017,0261,171,8261,595,7794.14%+423,953
VISA INC(V)1,620,7222,897,030+1,276,308575,437988,9882.57%+413,551
ADVANCED MICRO DEVICES INC(AMD)1,910,5714,181,269+2,270,698271,110676,4881.76%+405,377
AIR PRODS & CHEMS INC2,154,1543,667,119+1,512,965607,6011,000,0972.60%+392,496
MID-AMER APT CMNTYS INC(MAA)02,645,082+2,645,0820369,5970.96%+369,597
TESLA INC(TSLA)1,100,3311,609,828+509,497349,531715,9231.86%+366,392
CAPITAL ONE FINL CORP(COF)5,671,3587,388,506+1,717,1481,206,6381,570,6494.08%+364,010
KKR & CO INC(KKR)02,709,024+2,709,0240352,0380.91%+352,038
SHERWIN WILLIAMS CO(SHW)1,957,7502,881,091+923,341672,213997,6072.59%+325,394
EDWARDS LIFESCIENCES CORP03,069,151+3,069,1510238,6880.62%+238,688
CHEWY INC(CHWY)05,483,690+5,483,6900221,8150.58%+221,815
DEUTSCHE BANK AG
NAMEN AKT
06,102,855+6,102,8550214,5930.56%+214,593
CBRE GROUP INC(CBRE)01,210,004+1,210,0040190,6480.50%+190,648
SAIA INC(SAIA)827,6591,383,888+556,229226,770414,2811.08%+187,510
INTUIT(INTU)0264,136+264,1360180,3810.47%+180,381
DECKERS OUTDOOR CORP(DECK)01,726,926+1,726,9260175,0580.45%+175,058
FORTIVE CORP(FTV)15,912,62420,483,680+4,571,056829,5251,003,4952.61%+173,970
GENERAL MTRS CO(GM)13,018,87413,027,139+8,265640,659794,2652.06%+153,606
SCHWAB CHARLES CORP(SCHW)15,773,22516,583,101+809,8761,439,1491,583,1894.11%+144,040
NIKE INC(NKE)6,967,1988,996,579+2,029,381494,950627,3311.63%+132,382
TAIWAN SEMICONDUCTOR MFG LTD(TSM)4,329,2953,944,366-384,929980,5421,101,6222.86%+121,080
MCDONALDS CORP(MCD)3,125,4323,374,875+249,443913,1571,025,5912.66%+112,433
CAMDEN PPTY TR(CPT)2,716,0223,846,740+1,130,718306,069410,7551.07%+104,686
T-MOBILE US INC(TMUS)2,845,3163,262,466+417,150677,925780,9692.03%+103,044
ADAPTIVE BIOTECHNOLOGIES COR(ADPT)29,993,70829,993,7080349,427448,7061.17%+99,279
PHILIP MORRIS INTL INC(PM)3,454,1864,426,128+971,942629,111717,9181.86%+88,807
ACUREN CORP(TIC)34,360,00034,360,0000379,334457,3321.19%+77,997
AMER SPORTS INC(AS)3,880,6496,343,481+2,462,832150,414220,4360.57%+70,022
NEWAMSTERDAM PHARMA COMPANY
ORDINARY SHARES
6,978,5346,475,534-503,000126,381184,1640.48%+57,783
BOEING CO(BA)2,835,0653,010,551+175,486594,031649,7671.69%+55,736
ORUKA THERAPEUTICS INC(ORKA)02,666,690+2,666,690051,2800.13%+51,280
SIONNA THERAPEUTICS INC(SION)3,195,1813,195,181055,43693,9700.24%+38,534
TREVI THERAPEUTICS INC(TRVI)1,543,0005,128,875+3,585,8758,44046,9290.12%+38,489
INHIBRX BIOSCIENCES INC(INBX)1,787,7051,787,705025,51160,2100.16%+34,699
STUBHUB HLDGS INC(STUB)02,040,816+2,040,816034,3670.09%+34,367
MASIMO CORP767,4261,073,433+306,007129,096158,3850.41%+29,289
BRIDGEBIO PHARMA INC(BBIO)18,555,37515,977,849-2,577,526801,221829,8892.16%+28,668
PHARVARIS N V
COM
3,653,3103,653,310064,29891,1500.24%+26,852
PEPGEN INC(PEPG)1,482,4343,482,434+2,000,0001,64616,0890.04%+14,443
RYAN SPECIALTY HOLDINGS INC(RYAN)1,412,7671,934,957+522,19096,054109,0540.28%+13,000
ORIC PHARMACEUTICALS INC(ORIC)6,572,7006,572,700066,71378,8720.20%+12,159
GINKGO BIOWORKS HOLDINGS INC(DNA)3,577,1283,577,128040,24352,1550.14%+11,912
STANDARD BIOTOOLS INC(LAB)58,651,17058,651,170070,38176,2470.20%+5,865
RALLYBIO CORP(RLYB)4,194,7774,194,77701,4182,0930.01%+675
ESTABLISHMENT LABS HLDGS INC(ESTA)343,465343,465014,66914,0790.04%-591
APPLOVIN CORP(APP)372,973162,525-210,448130,570116,7810.30%-13,790
SEA LTD(SE)3,536,9873,039,203-497,784565,706543,1971.41%-22,509
HEALTHEQUITY INC(HQY)219,7460-219,74623,0210—-23,021
ROIVANT SCIENCES LTD(ROIV)34,237,77923,594,831-10,642,948385,860356,9900.93%-28,870
DANAHER CORPORATION(DHR)2,907,5152,751,245-156,270574,351545,4621.42%-28,889
RALLIANT CORP(RAL)5,304,1955,082,472-221,723257,200222,2570.58%-34,944
METSERA INC1,616,6120-1,616,61245,9930—-45,993
REGAL REXNORD CORPORATION(RRX)3,430,1283,123,262-306,866497,231448,0011.16%-49,231
CSX CORP(CSX)18,871,88215,947,719-2,924,163615,790566,3041.47%-49,486
INTEGER HLDGS CORP(ITGR)1,283,9651,024,942-259,023157,889105,9070.28%-51,982
CHIPOTLE MEXICAN GRILL INC(CMG)5,688,4836,636,563+948,080319,408260,0870.68%-59,321
CENCORA INC2,081,7321,778,135-303,597624,207555,7211.44%-68,487
BOSTON SCIENTIFIC CORP(BSX)3,045,7642,641,682-404,082327,146257,9070.67%-69,238
PRIMO BRANDS CORPORATION(PRMB)19,602,11623,033,970+3,431,854580,615509,0511.32%-71,564
MOLINA HEALTHCARE INC(MOH)267,4210-267,42179,6650—-79,665
ROYALTY PHARMA PLC(RPRX)2,597,4600-2,597,46093,5860—-93,586
COSTAR GROUP INC(CSGP)3,218,5681,849,729-1,368,839258,773156,0620.41%-102,711
HCA HEALTHCARE INC(HCA)1,872,1331,380,583-491,550717,214588,4041.53%-128,810
MAPLEBEAR INC(CART)3,752,924832,857-2,920,067169,78230,6160.08%-139,166
TEVA PHARMACEUTICAL INDS LTD(TEVA)11,681,3332,532,119-9,149,214195,77951,1490.13%-144,630
AMERICAN INTL GROUP INC1,815,7850-1,815,785155,4130—-155,413
CME GROUP INC(CME)597,3740-597,374164,6480—-164,648
API GROUP CORP(APG)11,537,51812,306,277+768,759588,990422,9671.10%-166,024
THE TRADE DESK INC(TTD)2,674,3200-2,674,320192,5240—-192,524
FIRST SOLAR INC(FSLR)2,266,050767,996-1,498,054375,122169,3660.44%-205,756
BIOMARIN PHARMACEUTICAL INC(BMRN)12,288,6118,322,179-3,966,432675,505450,7291.17%-224,776
GALLAGHER ARTHUR J & CO(AJG)725,7950-725,795232,3410—-232,341
LENNAR CORP(LEN)2,523,5940-2,523,594279,1350—-279,135
ROSS STORES INC(ROST)4,747,6392,023,868-2,723,771605,704308,4170.80%-297,287
ELI LILLY & CO(LLY)416,9180-416,918325,0000—-325,000
FERRARI NV
COM
721,2690-721,269353,5260—-353,526
D R HORTON INC(DHI)2,827,0320-2,827,032364,4610—-364,461
BLOCK INC(XYZ)5,420,4750-5,420,475368,2130—-368,213
CARNIVAL CORP13,207,2670-13,207,267371,3880—-371,388
QUALCOMM INC(QCOM)3,152,8660-3,152,866502,1250—-502,125
NVIDIA CORPORATION(NVDA)3,681,9350-3,681,935581,7090—-581,709
AMERICAN TOWER CORP NEW(AMT)2,797,1250-2,797,125618,2210—-618,221
FLUTTER ENTMT PLC(FLUT)2,284,9050-2,284,905652,9340—-652,934
AMAZON COM INC(AMZN)3,897,0920-3,897,092854,9830—-854,983
BANK AMERICA CORP31,246,97211,500,290-19,746,6821,478,607593,3001.54%-885,307
US BANCORP DEL(USB)24,089,4280-24,089,4281,090,0470—-1,090,047
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