Viking Global Investors

In Q2 2026, Viking Global Investors held 90 US-listed stocks worth $35bn. Its biggest move was selling all of its Apple (2.5% the quarter before), followed by buying Ferrari (now 2.3% of the portfolio). It started 34 new positions and sold out of 21. Its largest holding is Visa at 6.3%.

Source: SEC Form 13F for Q2 2026, filed 14 Aug 2026. How we use them

Latest 13F

Q2 2026

Filed 14 Aug 2026

Q3 2026 13F due

24 days

Expected Mon 16 Nov

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US holdings from the 13F

Q2 2026, filed 14 Aug 2026 (filing): 34 new, 19 added to, 27 trimmed, 21 sold out. Select a row to see it over time. How this works

Changes compare share counts with Q1 2026, adjusted for stock splits. Share classes of the same company are combined. Values are at quarter-end prices.

13F holdings with change from the previous quarter

VisaV	$2.2bn	6,393,604	6.3%$2.2bn	Added +1.0%	5.3%
Taiwan Semiconductor ManufacturingTSM	$1.5bn	3,168,097	4.3%$1.5bn	Trimmed -29%	4.2%
Air Products & ChemicalsAPD	$1.4bn	4,740,351	4.0%$1.4bn	Added +16%	3.3%
Sherwin WilliamsSHW	$1.3bn	3,875,879	3.8%$1.3bn	Added +25%	2.8%
FortiveFTV	$1.2bn	19,934,762	3.5%$1.2bn	Trimmed -11%	3.5%
Meta PlatformsMETA	$1.1bn	1,867,619	3.0%$1.1bn	Added +76%	1.7%
Charles SchwabSCHW	$982m	10,638,869	2.8%$982m	Trimmed -27%	3.9%
Thermo Fisher ScientificTMO	$971m	1,937,415	2.8%$971m	Added +16%	2.3%
JPMorgan ChaseJPM	$949m	2,899,386	2.7%$949m	Added +7.2%	2.2%
Lennox InternationalLII	$912m	1,590,959	2.6%$912m	Added +1.2%	2.0%
Amazon.comAMZN	$882m	3,700,862	2.5%$882m	Added +210%	0.7%
FerrariRACE	$817m	2,204,309	2.3%$817m	New	–
CarvanaCVNA	$811m	12,322,311	2.3%$811m	Added +343%	2.4%
McDonald’sMCD	$765m	2,829,158	2.2%$765m	Trimmed -22%	3.1%
Bridgebio PharmaBBIO	$741m	9,949,219	2.1%$741m	Trimmed -16%	2.5%
BoeingBA	$709m	3,274,825	2.0%$709m	Added +2.5%	1.8%
Mid-Amer Apt CmntysMAA	$701m	5,043,318	2.0%$701m	Added +5.1%	1.6%
Walt DisneyDIS	$689m	7,158,406	2.0%$689m	Trimmed -46%	3.6%
FedExFDX	$674m	2,151,983	1.9%$674m	Added +11%	1.9%
MSCIMSCI	$650m	1,160,687	1.9%$650m	New	–
Adaptive Biotechnologies CorADPT	$643m	29,993,708	1.8%$643m	Unchanged	1.2%
WatersWAT	$623m	1,662,140	1.8%$623m	Added +32%	1.1%
Johnson Controls InternationalJCI	$614m	4,202,694	1.8%$614m	Trimmed -4.9%	1.6%
Union PacificUNP	$557m	2,047,332	1.6%$557m	New	–
MicrosoftMSFT	$544m	1,458,618	1.6%$544m	Trimmed -37%	2.4%
SeaSE	$543m	5,669,877	1.6%$543m	Added +20%	1.1%
Camden Property TrustCPT	$517m	4,513,303	1.5%$517m	Trimmed -4.3%	1.3%
Regal RexnordRRX	$501m	2,101,759	1.4%$501m	Trimmed -33%	1.6%
BioMarin PharmaceuticalBMRN	$436m	7,616,563	1.2%$436m	Added +7.9%	1.1%
Interactive Brokers GroupIBKR	$420m	4,830,748	1.2%$420m	Added +247%	0.3%
Digital Realty TrustDLR	$415m	2,310,475	1.2%$415m	New	–
CarnivalCCL	$409m	14,299,953	1.2%$409m	Added +4.2%	1.0%
General MotorsGM	$386m	5,005,833	1.1%$386m	Trimmed -45%	1.9%
AonAON	$382m	1,151,269	1.1%$382m	Added +5.9%	1.0%
CVS HealthCVS	$379m	3,663,361	1.1%$379m	New	–
Fedex Freight HoldingFDXF	$357m	2,366,634	1.0%$357m	New	–
Intercontinental ExchangeICE	$342m	2,777,138	1.0%$342m	Trimmed -43%	2.1%
Morgan StanleyMS	$339m	1,622,593	1.0%$339m	New	–
Home DepotHD	$325m	920,595	0.9%$325m	Added +83%	0.5%
TIC SolutionsTIC	$290m	35,824,562	0.8%$290m	Unchanged	0.7%
QualcommQCOM	$280m	1,514,185	0.8%$280m	New	–
AptivAPTV	$279m	4,552,887	0.8%$279m	New	–
RedditRDDT	$272m	1,565,518	0.8%$272m	Trimmed -39%	1.0%
HasbroHAS	$257m	3,107,195	0.7%$257m	Trimmed -17%	1.0%
Avalonbay CmntysAVBC	$253m	1,339,782	0.7%$253m	New	–
Dick's Sporting GoodsDKS	$251m	1,106,134	0.7%$251m	Trimmed -12%	0.7%
SnowflakeSNOW	$244m	960,138	0.7%$244m	New	–
Equitable HoldingsEQH	$237m	5,398,896	0.7%$237m	New	–
Take-Two Interactive SoftwarTTWO	$235m	940,605	0.7%$235m	New	–
TeslaTSLA	$230m	547,816	0.7%$230m	Trimmed -78%	2.6%
Allegheny TechnologiesATI	$227m	1,153,880	0.7%$227m	Trimmed -65%	1.4%
Roivant SciencesROIV	$222m	6,271,467	0.6%$222m	Trimmed -5.7%	0.5%
Space Exploration TechnologiesSPCX	$205m	1,200,000	0.6%$205m	New	–
Amer SportsAS	$201m	5,954,351	0.6%$201m	Trimmed -18%	0.7%
VeradermicsMANE	$192m	1,561,494	0.6%$192m	Trimmed -7.6%	0.3%
MedlineMDLN	$191m	4,841,080	0.5%$191m	Trimmed -58%	1.4%
BCEBCE	$181m	8,383,278	0.5%$181m	New	–
US Foods HoldingUSFD	$177m	1,734,346	0.5%$177m	New	–
Oruka TherapeuticsORKA	$143m	1,503,478	0.4%$143m	Trimmed -44%	0.4%
Newamsterdam Pharma CompanyNAMS	$142m	4,203,567	0.4%$142m	Unchanged	0.4%
Sionna TherapeuticsSION	$141m	3,195,181	0.4%$141m	Unchanged	0.4%
ChubbCB	$129m	377,312	0.4%$129m	Trimmed -71%	1.2%
PharvarisPHVS	$126m	3,653,310	0.4%$126m	Unchanged	0.3%
UBS GroupUBS	$121m	2,435,805	0.3%$121m	New	–
Brightspring Health ServicesBTSG	$113m	1,618,237	0.3%$113m	New	–
Inhibrx BiosciencesINBX	$106m	1,123,929	0.3%$106m	Trimmed -22%	0.3%
NateraNTRA	$106m	390,694	0.3%$106m	New	–
Deutsche BankDB	$85.0m	2,510,554	0.2%$85.0m	New	–
Capital One FinancialCOF	$77.8m	387,815	0.2%$77.8m	Trimmed -76%	0.8%
Corebridge FinancialCRBG	$76.7m	2,679,371	0.2%$76.7m	New	–
Solaredge TechnologiesSEDG	$63.6m	1,088,469	0.2%$63.6m	New	–
GalectoGLTO	$60.1m	2,311,082	0.2%$60.1m	Unchanged	0.2%
Oric PharmaceuticalsORIC	$55.5m	5,126,762	0.2%$55.5m	Trimmed -12%	0.2%
BrukerBRKR	$53.8m	893,491	0.1%$53.8m	New	–
Standard BiotoolsLAB	$48.3m	58,651,170	0.1%$48.3m	Unchanged	0.1%
Ginkgo Bioworks HoldingsDNA	$35.4m	3,577,128	0.1%$35.4m	Unchanged	0.1%
CME GroupCME	$33.8m	152,980	0.1%$33.8m	New	–
Tradeweb MarketsTW	$31.3m	314,222	0.1%$31.3m	New	–
Trevi TherapeuticsTRVI	$28.8m	1,544,644	0.1%$28.8m	Trimmed -52%	0.1%
InfleqtionINFQ	$27.1m	2,032,649	0.1%$27.1m	New	–
Artiva BiotherapeuticsARTV	$25.3m	2,604,166	0.1%$25.3m	New	–
QuantinuumQNT	$25.0m	306,123	0.1%$25.0m	New	–
Fervo EnergyFRVO	$21.9m	750,000	0.1%$21.9m	New	–
AltimmuneALT	$20.4m	6,700,000	0.1%$20.4m	New	–
Toll Brothers, Inc. (TOL)TOL	$18.1m	109,856	0.1%$18.1m	New	–
DPC HoldingsDPC	$15.0m	306,123	0.0%$15.0m	New	–
X-EnergyXE	$13.1m	714,286	0.0%$13.1m	New	–
Azul SAAZUL	$12.1m	1,349,734	0.0%$12.1m	New	–
RallybioRLYB	$8.4m	524,347	0.0%$8.4m	Unchanged	0.0%
PepgenPEPG	$6.3m	3,482,434	0.0%$6.3m	Unchanged	0.0%
AppleAAPL	–	–	–	Sold out	2.5%
CSXCSX	–	–	–	Sold out	2.1%
AlphabetGOOG	–	–	–	Sold out	1.9%
PNC Financial Services GroupPNC	–	–	–	Sold out	1.8%
T-Mobile USTMUS	–	–	–	Sold out	1.7%
HCA HealthcareHCA	–	–	–	Sold out	1.4%
CelesticaCLS	–	–	–	Sold out	1.3%
Progressive OrdPGR	–	–	–	Sold out	0.9%
American International GroupAIG	–	–	–	Sold out	0.9%
Api GroupAPG	–	–	–	Sold out	0.7%
Cboe Global MarketsCBOE	–	–	–	Sold out	0.5%
Arthur J Gallagher & CoAJG	–	–	–	Sold out	0.4%
Lululemon AthleticaLULU	–	–	–	Sold out	0.4%
StellantisSTLA	–	–	–	Sold out	0.3%
CoreweaveCRWV	–	–	–	Sold out	0.3%
West Pharmaceutical SvscWST	–	–	–	Sold out	0.3%
Edwards LifesciencesEW	–	–	–	Sold out	0.3%
RalliantRAL	–	–	–	Sold out	0.3%
TwilioTWLO	–	–	–	Sold out	0.2%
EquipmentShare.comEQPT	–	–	–	Sold out	0.1%
Forgent Power SolutionsFPS	–	–	–	Sold out	0.1%

Download the Q2 2026 holdings: CSV · JSON · Markdown

Look-through earnings

Viking Global Investors’s share of the profits of the US companies it holds. How this works

For each holding, the fraction of the company it owns times the company’s net income. Look-through earnings explained.

Look-through earnings, Q2 2026

$707m

Last 12 months, holdings with SEC financials

Price paid for those earnings

38.4×

Value of those holdings ÷ their earnings

Earnings per share growth

+1.1%

Same holdings, against a year earlier

Portfolio covered

77%

Of the 13F value

$337m2017

$111m2018

$343m2019

$509m2020

$173m2021

$82.7m2022

$1000m2023

$645m2024

$879m2025

$431m2026*

Q1 Q2 Q3 Q4 · each quarter is that quarter’s profits times the stake reported at its end. *2026 so far: 2 quarters. Click a quarter to see its holdings.

Holdings behind

Look-through earnings by holding, Q2 2026

JPMorgan ChaseJPM	0.1%	$65bn	$70.0m	$22.8m	+19.2%
Amazon.comAMZN	0.03%	$135bn	$45.9m	$21.3m	+89.8%
Charles SchwabSCHW	0.6%	$1.3bn	$7.7m	$17.1m	-2.5%
Sherwin WilliamsSHW	1.6%	$2.7bn	$42.4m	$13.3m	+7.9%
Lennox InternationalLII	4.6%	$789m	$36.1m	$12.3m	-4.7%
Meta PlatformsMETA	0.07%	$68bn	$49.6m	$11.5m	-4.6%
Walt DisneyDIS	0.4%	$8.6bn	$35.3m	$10.8m	-22.9%
FortiveFTV	6.5%	$534m	$34.6m	$10.2m	-22.8%
Thermo Fisher ScientificTMO	0.5%	$7.0bn	$36.5m	$9.1m	+8.0%
CVS HealthCVS	0.3%	$4.9bn	$13.9m	$8.5m	+6.5%
General MotorsGM	0.6%	$2.0bn	$11.2m	$7.2m	-53.9%
MicrosoftMSFT	0.02%	$134bn	$26.2m	$7.0m	+31.6%
Union PacificUNP	0.3%	$7.3bn	$25.3m	$6.9m	+5.8%
CarnivalCCL	1.0%	$3.1bn	$31.6m	$5.5m	–
MSCIMSCI	1.6%	$1.4bn	$21.6m	$5.4m	+22.5%
CarvanaCVNA	1.7%	$1.6bn	$26.1m	$5.2m	+169.5%
Johnson Controls InternationalJCI	0.7%	$3.6bn	$24.7m	$5.2m	+72.8%
Regal RexnordRRX	3.1%	$324m	$10.2m	$3.7m	+28.6%
Interactive Brokers GroupIBKR	1.1%	$1.1bn	$12.1m	$3.3m	+31.8%
AonAON	0.5%	$3.9bn	$21.1m	$3.0m	+52.8%
BioMarin PharmaceuticalBMRN	3.9%	$73.0m	$2.9m	$1.8m	-88.7%
Camden Property TrustCPT	4.4%	$326m	$14.4m	$828k	+123.5%
WatersWAT	0.00%	$166m	$3k	−$2k	-100.0%
BoeingBA	0.4%	$2.4bn	$10.1m	−$1.8m	–
Adaptive Biotechnologies CorADPT	18.8%	−$63.9m	−$12.0m	−$7.5m	–
Bridgebio PharmaBBIO	5.1%	−$692m	−$35.2m	−$7.7m	–
FedExFDX	0.9%	$4k	$0k	−$25.5m	+9.7%
Air Products & ChemicalsAPD	2.1%	−$47.3m	−$1.0m	−$30.7m	-103.1%
Mid-Amer Apt CmntysMAA	4.3%	$390m	$16.8m	–	-30.9%
Digital Realty TrustDLR	0.7%	$1.4bn	$9.0m	–	+223.7%

Net income is as reported (GAAP), so it includes one-off items and, for some companies, gains or losses on investments they hold. Companies that report under IFRS (most non-US companies) or whose shares we can’t match reliably are left out; “portfolio covered” shows how much is included. Look-through earnings explained. Growth compares earnings per share over the last 12 months with the 12 months a year earlier, for holdings profitable in both.

5% stake filings

Holdings of 5% or more of a company (13D and 13G), usually reported well before the next 13F. How this works

Viking Global Investors’s filings since December 2024, newest first. An amendment showing less than 5% means the holding fell below the threshold. A 13D means the holder may seek to influence the company. How to read a 13D.

Company	Owns	Form	Filed
Mid-Amer Apt Cmntys	5.1%	13G	5 Oct 2026
Regal Rexnord	5.4%	13G	16 Sep 2026
Inhibrx Biosciences	9.3%	13G/A	14 Aug 2026
Oruka Therapeutics	2.5%below 5%	13G/A	14 Aug 2026
Bridgebio Pharma13D	5.0%	13D/A	10 Jul 2026

Viking Global Investors

What changed in Q2 2026

New positions

Added to

Trimmed

Sold out

US holdings from the 13F

How the portfolio has changed

Look-through earnings

5% stake filings

US holdings by sector

US portfolio value by quarter