Viking Global Investors LP

Bought Alphabet, sold out of BlackRock. Portfolio down 2% to $37.7B.

$37.7B portfolio76 holdingstop 10 = 35%filed 2026-02-17

1MSFTMicrosoft Corp4.13%
$1.6B - 3.2M shares+788K
2PNCPNC Finl SVCS Group Inc4.04%
$1.5B - 7.3M shares-670K
3TSMTaiwan Semiconductor MFG L3.96%
$1.5B - 4.9M shares+971K
4VVisa Inc3.71%
$1.4B - 4.0M shares+1.1M
5SCHWSchwab Charles Corp3.68%
$1.4B - 13.9M shares-2.7M
6DISDisney Walt Co3.38%
$1.3B - 11.2M shares+744K
7APDAir Prods & Chems Inc3.14%
$1.2B - 4.8M shares+1.1M
8MCDMcDonald's Corp2.94%
$1.1B - 3.6M shares+244K
9BBIOBridgebio Pharma Inc2.92%
$1.1B - 14.4M shares-1.6M
10FTVFortive Corp2.82%
$1.1B - 19.2M shares-1.3M
11SHWSherwin Williams Co2.73%
$1.0B - 3.2M shares+291K
12BABoeing Co2.28%
$858.3M - 4.0M shares+943K
13GOOGLAlphabet Inc2.21%
$834.5M - 2.7M sharesNEW
14AMDAdvanced Micro Devices Inc2.13%
$801.4M - 3.7M shares-439K
15ICEIntercontinental Exchange 2.06%
$777.9M - 4.8M sharesNEW
16TSLATesla Inc2.03%
$764.4M - 1.7M shares+90K
17TMUST-mobile US Inc2.02%
$762.3M - 3.8M shares+492K
18AMZNAmazon Com Inc1.92%
$721.7M - 3.1M sharesNEW
19COFCapital One Finl Corp1.90%
$715.5M - 3.0M shares-4.4M
20Johnson CTLS Intl PLC1.88%
$708.8M - 5.9M shares-878K
21DKNGDraftkings Inc New1.75%
$658.9M - 19.1M shares+4.1M
22JPMJPMorgan Chase & Co.1.63%
$614.1M - 1.9M shares-3.2M
23ROSTRoss Stores Inc1.51%
$570.6M - 3.2M shares+1.1M
24GMGeneral MTRS Co1.47%
$553.5M - 6.8M shares-6.2M
25MAAMid-amer Apt Cmntys Inc1.43%
$539.0M - 3.9M shares+1.2M
26CPTCamden PPTY TR1.39%
$524.5M - 4.8M shares+918K
27DKSDicks Sporting Goods Inc1.35%
$509.4M - 2.6M sharesNEW
28CLSCelestica Inc1.33%
$502.3M - 1.7M shares-24K
29CSXCSX Corp1.33%
$500.9M - 13.8M shares-2.1M
30ADPTAdaptive Biotechnologies C1.29%
$487.1M - 30.0M shares-
31SESea LTD1.24%
$468.4M - 3.7M shares+632K
32HCAHca Healthcare Inc1.24%
$466.5M - 999K shares-381K
33TMOThermo Fisher Scientific I1.22%
$459.6M - 793K sharesNEW
34RRXRegal Rexnord Corporation1.20%
$452.4M - 3.2M shares+101K
35CVNACarvana Co1.19%
$448.0M - 1.1M shares-1.0M
36CHWYChewy Inc1.19%
$447.4M - 13.5M shares+8.1M
37APGApi Group Corp1.17%
$441.4M - 11.5M shares-769K
38Stellantis N.V1.15%
$434.3M - 39.1M sharesNEW
39CCLCarnival Corp1.14%
$429.4M - 14.1M sharesNEW
40UBS Group AG1.13%
$426.0M - 9.1M shares-4.0M
41UNHUnitedhealth Group Inc1.05%
$395.2M - 1.2M sharesNEW
42BMRNBiomarin Pharmaceutical In0.95%
$358.8M - 6.0M shares-2.3M
43SAIASaia Inc0.94%
$355.4M - 1.1M shares-295K
44TICTic Solutions Inc0.92%
$347.4M - 34.4M shares-
45Chubb Limited0.84%
$316.4M - 1.0M sharesNEW
46PGRProgressive Corp0.80%
$303.2M - 1.3M sharesNEW
47LIILennox Intl Inc0.80%
$301.7M - 621K sharesNEW
48TWTradeweb MKTS Inc0.79%
$297.7M - 2.8M sharesNEW
49MDLNMedline Inc0.78%
$292.3M - 7.0M sharesNEW
50Aon PLC0.73%
$276.5M - 784K shares-631K
51AJGGallagher Arthur J & Co0.71%
$269.4M - 1.0M sharesNEW
52BACBank America Corp0.66%
$247.2M - 4.5M shares-7.0M
53BSXBoston Scientific Corp0.64%
$239.3M - 2.5M shares-132K
54DLRDigital RLTY TR Inc0.62%
$233.3M - 1.5M sharesNEW
55LOWLowes Cos Inc0.58%
$219.9M - 912K sharesNEW
56FIGFigma Inc0.57%
$215.0M - 5.8M sharesNEW
57ITUBItau Unibanco HLDG S A0.54%
$203.3M - 28.4M sharesNEW
58Amer Sports Inc0.48%
$179.8M - 4.8M shares-1.5M
59RALRalliant Corp0.43%
$161.0M - 3.2M shares-1.9M
60RIOTRiot Platforms Inc0.42%
$157.5M - 12.4M sharesNEW
61Newamsterdam Pharma Company0.39%
$147.5M - 4.2M shares-2.3M
62Roivant Sciences LTD0.37%
$139.8M - 6.4M shares-17.2M
63IQVIqvia Hldgs Inc0.37%
$139.6M - 619K sharesNEW
64SIONSionna Therapeutics Inc0.35%
$131.4M - 3.2M shares-
65INBXInhibrx Biosciences Inc0.30%
$113.6M - 1.4M shares-350K
66Pharvaris N V0.27%
$101.4M - 3.7M shares-
67CSGPCostar Group Inc0.26%
$97.0M - 1.4M shares-407K
68WSTWest Pharmaceutical SVSC I0.22%
$81.2M - 295K sharesNEW
69ORKAOruka Therapeutics Inc0.21%
$80.8M - 2.7M shares-
70LABStandard Biotools Inc0.20%
$75.1M - 58.7M shares-
71MASIMasimo Corp0.18%
$66.9M - 514K shares-559K
72ORICOric Pharmaceuticals Inc0.14%
$53.8M - 6.6M shares-9
73TRVITrevi Therapeutics Inc0.11%
$40.0M - 3.2M shares-1.9M
74DNAGinkgo Bioworks Holdings I0.08%
$29.7M - 3.6M shares-
75PEPGPepgen Inc0.06%
$22.7M - 3.5M shares-
76Rallybio Corp<0.01%
$2.9M - 4.2M shares-

#	Stock
1	MSFTMicrosoft Corp	4.13%	$1.6B	3.2M	+788K
2	PNCPNC Finl SVCS Group Inc	4.04%	$1.5B	7.3M	-670K
3	TSMTaiwan Semiconductor MFG L	3.96%	$1.5B	4.9M	+971K
4	VVisa Inc	3.71%	$1.4B	4.0M	+1.1M
5	SCHWSchwab Charles Corp	3.68%	$1.4B	13.9M	-2.7M
6	DISDisney Walt Co	3.38%	$1.3B	11.2M	+744K
7	APDAir Prods & Chems Inc	3.14%	$1.2B	4.8M	+1.1M
8	MCDMcDonald's Corp	2.94%	$1.1B	3.6M	+244K
9	BBIOBridgebio Pharma Inc	2.92%	$1.1B	14.4M	-1.6M
10	FTVFortive Corp	2.82%	$1.1B	19.2M	-1.3M
11	SHWSherwin Williams Co	2.73%	$1.0B	3.2M	+291K
12	BABoeing Co	2.28%	$858.3M	4.0M	+943K
13	GOOGLAlphabet Inc	2.21%	$834.5M	2.7M	NEW
14	AMDAdvanced Micro Devices Inc	2.13%	$801.4M	3.7M	-439K
15	ICEIntercontinental Exchange	2.06%	$777.9M	4.8M	NEW
16	TSLATesla Inc	2.03%	$764.4M	1.7M	+90K
17	TMUST-mobile US Inc	2.02%	$762.3M	3.8M	+492K
18	AMZNAmazon Com Inc	1.92%	$721.7M	3.1M	NEW
19	COFCapital One Finl Corp	1.90%	$715.5M	3.0M	-4.4M
20	Johnson CTLS Intl PLC	1.88%	$708.8M	5.9M	-878K
21	DKNGDraftkings Inc New	1.75%	$658.9M	19.1M	+4.1M
22	JPMJPMorgan Chase & Co.	1.63%	$614.1M	1.9M	-3.2M
23	ROSTRoss Stores Inc	1.51%	$570.6M	3.2M	+1.1M
24	GMGeneral MTRS Co	1.47%	$553.5M	6.8M	-6.2M
25	MAAMid-amer Apt Cmntys Inc	1.43%	$539.0M	3.9M	+1.2M
26	CPTCamden PPTY TR	1.39%	$524.5M	4.8M	+918K
27	DKSDicks Sporting Goods Inc	1.35%	$509.4M	2.6M	NEW
28	CLSCelestica Inc	1.33%	$502.3M	1.7M	-24K
29	CSXCSX Corp	1.33%	$500.9M	13.8M	-2.1M
30	ADPTAdaptive Biotechnologies C	1.29%	$487.1M	30.0M	-
31	SESea LTD	1.24%	$468.4M	3.7M	+632K
32	HCAHca Healthcare Inc	1.24%	$466.5M	999K	-381K
33	TMOThermo Fisher Scientific I	1.22%	$459.6M	793K	NEW
34	RRXRegal Rexnord Corporation	1.20%	$452.4M	3.2M	+101K
35	CVNACarvana Co	1.19%	$448.0M	1.1M	-1.0M
36	CHWYChewy Inc	1.19%	$447.4M	13.5M	+8.1M
37	APGApi Group Corp	1.17%	$441.4M	11.5M	-769K
38	Stellantis N.V	1.15%	$434.3M	39.1M	NEW
39	CCLCarnival Corp	1.14%	$429.4M	14.1M	NEW
40	UBS Group AG	1.13%	$426.0M	9.1M	-4.0M
41	UNHUnitedhealth Group Inc	1.05%	$395.2M	1.2M	NEW
42	BMRNBiomarin Pharmaceutical In	0.95%	$358.8M	6.0M	-2.3M
43	SAIASaia Inc	0.94%	$355.4M	1.1M	-295K
44	TICTic Solutions Inc	0.92%	$347.4M	34.4M	-
45	Chubb Limited	0.84%	$316.4M	1.0M	NEW
46	PGRProgressive Corp	0.80%	$303.2M	1.3M	NEW
47	LIILennox Intl Inc	0.80%	$301.7M	621K	NEW
48	TWTradeweb MKTS Inc	0.79%	$297.7M	2.8M	NEW
49	MDLNMedline Inc	0.78%	$292.3M	7.0M	NEW
50	Aon PLC	0.73%	$276.5M	784K	-631K
51	AJGGallagher Arthur J & Co	0.71%	$269.4M	1.0M	NEW
52	BACBank America Corp	0.66%	$247.2M	4.5M	-7.0M
53	BSXBoston Scientific Corp	0.64%	$239.3M	2.5M	-132K
54	DLRDigital RLTY TR Inc	0.62%	$233.3M	1.5M	NEW
55	LOWLowes Cos Inc	0.58%	$219.9M	912K	NEW
56	FIGFigma Inc	0.57%	$215.0M	5.8M	NEW
57	ITUBItau Unibanco HLDG S A	0.54%	$203.3M	28.4M	NEW
58	Amer Sports Inc	0.48%	$179.8M	4.8M	-1.5M
59	RALRalliant Corp	0.43%	$161.0M	3.2M	-1.9M
60	RIOTRiot Platforms Inc	0.42%	$157.5M	12.4M	NEW
61	Newamsterdam Pharma Company	0.39%	$147.5M	4.2M	-2.3M
62	Roivant Sciences LTD	0.37%	$139.8M	6.4M	-17.2M
63	IQVIqvia Hldgs Inc	0.37%	$139.6M	619K	NEW
64	SIONSionna Therapeutics Inc	0.35%	$131.4M	3.2M	-
65	INBXInhibrx Biosciences Inc	0.30%	$113.6M	1.4M	-350K
66	Pharvaris N V	0.27%	$101.4M	3.7M	-
67	CSGPCostar Group Inc	0.26%	$97.0M	1.4M	-407K
68	WSTWest Pharmaceutical SVSC I	0.22%	$81.2M	295K	NEW
69	ORKAOruka Therapeutics Inc	0.21%	$80.8M	2.7M	-
70	LABStandard Biotools Inc	0.20%	$75.1M	58.7M	-
71	MASIMasimo Corp	0.18%	$66.9M	514K	-559K
72	ORICOric Pharmaceuticals Inc	0.14%	$53.8M	6.6M	-9
73	TRVITrevi Therapeutics Inc	0.11%	$40.0M	3.2M	-1.9M
74	DNAGinkgo Bioworks Holdings I	0.08%	$29.7M	3.6M	-
75	PEPGPepgen Inc	0.06%	$22.7M	3.5M	-
76	Rallybio Corp	<0.01%	$2.9M	4.2M	-

What a 13F does not show

Filed up to 45 days after the quarter ends, so this is Q4 2025, not today. US-listed shares and some options only. No short bets, cash, bonds, or foreign listings.