# Andreas Halvorsen — Viking Global Investors Portfolio USD 35,079,224,000 · 90 positions · 2026 Q2 · history from 2019 Q1. Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/vg ## Positions (2026 Q2) | Ticker | Company | % of portfolio | Value | This quarter | Holders | |---|---|---:|---:|---|---:| | V | Visa Inc. | 6.3% | USD 2,193,582,000 | +1.03% | | | TSM | Taiwan Semiconductor S.A. | 4.3% | USD 1,512,988,000 | -29.05% | | | APD | Air Products & Chemicals | 4.0% | USD 1,389,776,000 | +15.5% | | | SHW | Sherwin-Williams | 3.8% | USD 1,334,543,000 | +24.52% | | | FTV | Fortive Corp. | 3.5% | USD 1,217,815,000 | -11.32% | | | META | Meta Platforms Inc. | 3.0% | USD 1,052,011,000 | +75.76% | | | SCHW | Charles Schwab Corp. | 2.8% | USD 981,648,000 | -27.45% | | | TMO | Thermo Fisher Scientific | 2.8% | USD 971,342,000 | +16.15% | | | JPM | JPMorgan Chase & Co. | 2.7% | USD 949,056,000 | +7.23% | | | LII | Lennox International | 2.6% | USD 911,540,000 | +1.18% | | | AMZN | Amazon.com Inc. | 2.5% | USD 882,063,000 | +209.58% | | | RACE | Ferrari NV | 2.3% | USD 816,922,000 | new | | | CVNA | Carvana Co. | 2.3% | USD 811,055,000 | -11.35% | | | MCD | McDonald's Corp. | 2.2% | USD 764,750,000 | -21.95% | | | BBIO | BridgeBio Pharma Inc. | 2.1% | USD 741,018,000 | -15.99% | | | BA | Boeing Co. | 2.0% | USD 708,901,000 | +2.47% | | | MAA | Mid-America Apt Communties | 2.0% | USD 700,719,000 | +5.1% | | | DIS | Walt Disney Co. | 2.0% | USD 688,997,000 | -46.17% | | | FDX | FedEx Corp. | 1.9% | USD 673,850,000 | +11.38% | | | MSCI | MSCI Inc. | 1.9% | USD 650,031,000 | new | | | ADPT | Adaptive Biotechnologies Corp. | 1.8% | USD 643,365,000 | hold | | | WAT | Waters Corp. | 1.8% | USD 623,369,000 | +32.29% | | | JCI | Johnson Controls Intl. plc | 1.8% | USD 614,056,000 | -4.91% | | | UNP | Union Pacific | 1.6% | USD 556,874,000 | new | | | MSFT | Microsoft Corp. | 1.6% | USD 544,094,000 | -36.84% | | | SE | Sea Ltd | 1.6% | USD 543,344,000 | +19.69% | | | CPT | Camden Property Trust | 1.5% | USD 516,728,000 | -4.29% | | | RRX | Regal Rexnord Corp. | 1.4% | USD 500,618,000 | -33.13% | | | BMRN | BioMarin Pharmaceutical Inc. | 1.2% | USD 435,820,000 | +7.85% | | | IBKR | Interactive Brokers Group Inc. | 1.2% | USD 420,468,000 | +246.46% | | | DLR | Digital Realty Trust Inc. | 1.2% | USD 414,915,000 | new | | | CCL | Carnival Corp. | 1.2% | USD 408,550,000 | +4.22% | | | GM | General Motors | 1.1% | USD 385,850,000 | -45.45% | | | AON | Aon Plc | 1.1% | USD 381,864,000 | +5.9% | | | CVS | CVS Health Corp. | 1.1% | USD 378,975,000 | new | | | FDXF | FedEx Freight Holding Co. | 1.0% | USD 357,362,000 | new | | | ICE | Intercontinental Exchange Inc. | 1.0% | USD 341,893,000 | -42.58% | | | MS | Morgan Stanley | 1.0% | USD 339,187,000 | new | | | HD | Home Depot | 0.9% | USD 324,675,000 | +82.56% | | | TIC | Acuren Corporation | 0.8% | USD 289,821,000 | hold | | | QCOM | QUALCOMM Inc. | 0.8% | USD 279,806,000 | new | | | APTV | Aptiv PLC | 0.8% | USD 279,456,000 | new | | | RDDT | Reddit Inc Cl A | 0.8% | USD 271,743,000 | -38.65% | | | HAS | Hasbro Inc. | 0.7% | USD 256,623,000 | -16.9% | | | AVB-OLD | AvalonBay Communities | 0.7% | USD 252,803,000 | new | | | DKS | Dick's Sporting Goods Inc. | 0.7% | USD 250,882,000 | -12.5% | | | SNOW | Snowflake Inc. | 0.7% | USD 244,355,000 | new | | | EQH | Equitable Holdings Inc. | 0.7% | USD 236,904,000 | new | | | TTWO | Take-Two Interactive Software | 0.7% | USD 235,132,000 | new | | | TSLA | Tesla Inc. | 0.7% | USD 230,411,000 | -78.03% | | | ATI | Allegheny Technologies Inc. | 0.7% | USD 227,430,000 | -65.38% | | | ROIV | Roivant Sciences Ltd | 0.6% | USD 221,947,000 | -5.73% | | | SPCX | Space Exploration Technologies Corp. | 0.6% | USD 205,032,000 | new | | | AS | Amer Sports Inc | 0.6% | USD 201,495,000 | -18.1% | | | MANE | Veradermics Inc | 0.6% | USD 191,970,000 | -7.63% | | | MDLN | Medline Inc Cl A | 0.5% | USD 190,932,000 | -57.66% | | | BCE | BCE Inc. | 0.5% | USD 180,581,000 | new | | | USFD | US Foods Holding Corp. | 0.5% | USD 177,337,000 | new | | | ORKA | Oruka Therapeutics Inc | 0.4% | USD 143,086,000 | -43.62% | | | NAMS | Newamsterdam Pharma Co Nv | 0.4% | USD 142,459,000 | hold | | | SION | Sionna Therapeutics Inc | 0.4% | USD 140,556,000 | hold | | | CB | Chubb Limited | 0.4% | USD 128,565,000 | -70.86% | | | PHVS | Pharvaris NV | 0.4% | USD 126,331,000 | hold | | | UBS | UBS AG | 0.3% | USD 120,765,000 | new | | | BTSG | Brightspring Health Services | 0.3% | USD 112,856,000 | new | | | INBX | Inhibrx | 0.3% | USD 106,492,000 | -21.82% | | | NTRA | Natera Inc. | 0.3% | USD 106,054,000 | new | | | DB | Deutsche Bank AG | 0.2% | USD 84,981,000 | new | | | COF | Capital One Financial | 0.2% | USD 77,803,000 | -75.95% | | | CRBG | Corebridge Financial Inc. | 0.2% | USD 76,710,000 | new | | | SEDG | SolarEdge Technologies Inc. | 0.2% | USD 63,610,000 | new | | | DMRA | Damora Therapeutics Inc. | 0.2% | USD 60,111,000 | hold | | | ORIC | ORIC Pharmaceuticals Inc. | 0.2% | USD 55,523,000 | -11.98% | | | BRKR | Bruker Corp. | 0.2% | USD 53,770,000 | new | | | LAB | Standard Biotools Inc | 0.1% | USD 48,252,000 | hold | | | DNA | Ginkgo Bioworks Holdings Inc. | 0.1% | USD 35,449,000 | hold | | | CME | CME Group | 0.1% | USD 33,783,000 | new | | | TW | Tradeweb Markets Inc. | 0.1% | USD 31,315,000 | new | | | TRVI | Trevi Therapeutics Inc. | 0.1% | USD 28,808,000 | -51.71% | | | INFQ | Infleqtion Inc | 0.1% | USD 27,075,000 | new | | | ARTV | Artiva Biotherapeutics Inc | 0.1% | USD 25,260,000 | new | | | QNT | Quantinuum Inc A | 0.1% | USD 25,022,000 | new | | | FRVO | Fervo Energy Co A | 0.1% | USD 21,923,000 | new | | | ALT | Altimmune Inc. | 0.1% | USD 20,368,000 | new | | | TOL | Toll Brothers | 0.1% | USD 18,099,000 | new | | | DPC | Dpc Holdings Plc | <0.1% | USD 15,018,000 | new | | | XE | X Energy Inc | <0.1% | USD 13,114,000 | new | | | AZUL | Azul S.A. | <0.1% | USD 12,134,000 | new | | | RLYB | Rallybio Corp. | <0.1% | USD 8,390,000 | hold | | | PEPG | Pepgen Inc | <0.1% | USD 6,268,000 | hold | | ## Moves this quarter (101) - V Visa Inc.: +1.03% (USD 2,193,582,000) - TSM Taiwan Semiconductor S.A.: -29.05% (USD 1,512,988,000) - APD Air Products & Chemicals: +15.5% (USD 1,389,776,000) - SHW Sherwin-Williams: +24.52% (USD 1,334,543,000) - FTV Fortive Corp.: -11.32% (USD 1,217,815,000) - META Meta Platforms Inc.: +75.76% (USD 1,052,011,000) - SCHW Charles Schwab Corp.: -27.45% (USD 981,648,000) - TMO Thermo Fisher Scientific: +16.15% (USD 971,342,000) - JPM JPMorgan Chase & Co.: +7.23% (USD 949,056,000) - AAPL Apple Inc.: sold (USD 911,881,936) - LII Lennox International: +1.18% (USD 911,540,000) - AMZN Amazon.com Inc.: +209.58% (USD 882,063,000) - RACE Ferrari NV: new (USD 816,922,000) - CVNA Carvana Co.: -11.35% (USD 811,055,000) - CSX CSX Corp.: sold (USD 766,734,035) - MCD McDonald's Corp.: -21.95% (USD 764,750,000) - BBIO BridgeBio Pharma Inc.: -15.99% (USD 741,018,000) - BA Boeing Co.: +2.47% (USD 708,901,000) - MAA Mid-America Apt Communties: +5.1% (USD 700,719,000) - DIS Walt Disney Co.: -46.17% (USD 688,997,000) - GOOGL Alphabet Inc.: sold (USD 688,954,939) - FDX FedEx Corp.: +11.38% (USD 673,850,000) - MSCI MSCI Inc.: new (USD 650,031,000) - PNC PNC Financial Services: sold (USD 629,907,574) - WAT Waters Corp.: +32.29% (USD 623,369,000) - TMUS T-Mobile US Inc.: sold (USD 623,237,561) - JCI Johnson Controls Intl. plc: -4.91% (USD 614,056,000) - UNP Union Pacific: new (USD 556,874,000) - MSFT Microsoft Corp.: -36.84% (USD 544,094,000) - SE Sea Ltd: +19.69% (USD 543,344,000) - CPT Camden Property Trust: -4.29% (USD 516,728,000) - HCA HCA Healthcare Inc.: sold (USD 508,795,941) - RRX Regal Rexnord Corp.: -33.13% (USD 500,618,000) - CLS Celestica Inc: sold (USD 466,177,302) - BMRN BioMarin Pharmaceutical Inc.: +7.85% (USD 435,820,000) - IBKR Interactive Brokers Group Inc.: +246.46% (USD 420,468,000) - DLR Digital Realty Trust Inc.: new (USD 414,915,000) - CCL Carnival Corp.: +4.22% (USD 408,550,000) - GM General Motors: -45.45% (USD 385,850,000) - AON Aon Plc: +5.9% (USD 381,864,000) - CVS CVS Health Corp.: new (USD 378,975,000) - FDXF FedEx Freight Holding Co.: new (USD 357,362,000) - ICE Intercontinental Exchange Inc.: -42.58% (USD 341,893,000) - MS Morgan Stanley: new (USD 339,187,000) - HD Home Depot: +82.56% (USD 324,675,000) - PGR Progressive Corp.: sold (USD 320,466,656) - AIG American International Group: sold (USD 317,647,031) - QCOM QUALCOMM Inc.: new (USD 279,806,000) - APTV Aptiv PLC: new (USD 279,456,000) - RDDT Reddit Inc Cl A: -38.65% (USD 271,743,000) - HAS Hasbro Inc.: -16.9% (USD 256,623,000) - AVB-OLD AvalonBay Communities: new (USD 252,803,000) - DKS Dick's Sporting Goods Inc.: -12.5% (USD 250,882,000) - SNOW Snowflake Inc.: new (USD 244,355,000) - EQH Equitable Holdings Inc.: new (USD 236,904,000) - APG APi Group Corp.: sold (USD 236,515,240) - TTWO Take-Two Interactive Software: new (USD 235,132,000) - TSLA Tesla Inc.: -78.03% (USD 230,411,000) - ATI Allegheny Technologies Inc.: -65.38% (USD 227,430,000) - ROIV Roivant Sciences Ltd: -5.73% (USD 221,947,000) - SPCX Space Exploration Technologies Corp.: new (USD 205,032,000) - AS Amer Sports Inc: -18.1% (USD 201,495,000) - CBOE CBOE Holdings Inc.: sold (USD 193,493,366) - MANE Veradermics Inc: -7.63% (USD 191,970,000) - MDLN Medline Inc Cl A: -57.66% (USD 190,932,000) - BCE BCE Inc.: new (USD 180,581,000) - USFD US Foods Holding Corp.: new (USD 177,337,000) - AJG Arthur J. Gallagher & Co.: sold (USD 157,549,172) - LULU Lululemon Athletica Inc.: sold (USD 150,124,961) - ORKA Oruka Therapeutics Inc: -43.62% (USD 143,086,000) - CB Chubb Limited: -70.86% (USD 128,565,000) - UBS UBS AG: new (USD 120,765,000) - BTSG Brightspring Health Services: new (USD 112,856,000) - STLA Stellantis N.V.: sold (USD 111,861,876) - CRWV Coreweave Inc Cl A: sold (USD 108,259,522) - INBX Inhibrx: -21.82% (USD 106,492,000) - NTRA Natera Inc.: new (USD 106,054,000) - WST West Pharmaceutical Services: sold (USD 104,503,847) - RAL Ralliant Corp.: sold (USD 88,790,449) - EW Edwards Lifesciences Corp.: sold (USD 87,894,046) - DB Deutsche Bank AG: new (USD 84,981,000) - COF Capital One Financial: -75.95% (USD 77,803,000) - CRBG Corebridge Financial Inc.: new (USD 76,710,000) - SEDG SolarEdge Technologies Inc.: new (USD 63,610,000) - TWLO Twilio Inc.: sold (USD 56,715,881) - ORIC ORIC Pharmaceuticals Inc.: -11.98% (USD 55,523,000) - BRKR Bruker Corp.: new (USD 53,770,000) - CME CME Group: new (USD 33,783,000) - TW Tradeweb Markets Inc.: new (USD 31,315,000) - TRVI Trevi Therapeutics Inc.: -51.71% (USD 28,808,000) - INFQ Infleqtion Inc: new (USD 27,075,000) - ARTV Artiva Biotherapeutics Inc: new (USD 25,260,000) - QNT Quantinuum Inc A: new (USD 25,022,000) - FRVO Fervo Energy Co A: new (USD 21,923,000) - EQPT Equipmentshare.com Inc A: sold (USD 20,370,000) - ALT Altimmune Inc.: new (USD 20,368,000) - FPS Forgent Power Solutions Inc: sold (USD 19,025,500) - TOL Toll Brothers: new (USD 18,099,000) - DPC Dpc Holdings Plc: new (USD 15,018,000) - XE X Energy Inc: new (USD 13,114,000) - AZUL Azul S.A.: new (USD 12,134,000) ## Portfolio value by quarter - 2019 Q1: USD 17,443,901,902 (18 positions) - 2019 Q2: USD 22,205,991,812 (22 positions) - 2019 Q3: USD 19,198,862,496 (24 positions) - 2019 Q4: USD 21,353,271,072 (29 positions) - 2020 Q1: USD 19,220,235,445 (26 positions) - 2020 Q2: USD 23,137,996,927 (27 positions) - 2020 Q3: USD 27,676,782,982 (31 positions) - 2020 Q4: USD 36,363,529,250 (40 positions) - 2021 Q1: USD 33,565,733,563 (38 positions) - 2021 Q2: USD 32,927,827,475 (38 positions) - 2021 Q3: USD 35,923,953,668 (38 positions) - 2021 Q4: USD 34,481,329,154 (50 positions) - 2022 Q1: USD 24,629,602,711 (47 positions) - 2022 Q2: USD 21,788,890,915 (49 positions) - 2022 Q3: USD 21,569,316,788 (54 positions) - 2022 Q4: USD 19,893,683,128 (54 positions) - 2023 Q1: USD 21,226,988,423 (58 positions) - 2023 Q2: USD 24,337,160,368 (64 positions) - 2023 Q3: USD 24,565,315,393 (68 positions) - 2023 Q4: USD 27,256,323,071 (78 positions) - 2024 Q1: USD 26,843,590,240 (83 positions) - 2024 Q2: USD 26,014,662,982 (82 positions) - 2024 Q3: USD 27,432,593,067 (83 positions) - 2024 Q4: USD 30,912,310,569 (86 positions) - 2025 Q1: USD 31,475,955,788 (91 positions) - 2025 Q2: USD 34,600,171,605 (83 positions) - 2025 Q3: USD 38,489,557,747 (78 positions) - 2025 Q4: USD 37,463,318,930 (75 positions) - 2026 Q1: USD 35,745,140,451 (77 positions) - 2026 Q2: USD 35,079,224,000 (90 positions)