13F filing recap · Q2 2025

What did Viking Global Investors buy in Q2 2025?

Reported stock-position changes between this filing and the previous one.

Stock value

$34.59B

Positions

Estimated turnover

70.2%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Viking Global Investors opened new positions in Walt Disney, Air Products and Chemicals, PNC Financial Services, Block, Eli Lilly, and Advanced Micro Devices, among others. The firm exited Allstate, Autodesk, DoorDash, Microsoft, Netflix, and UnitedHealth Group, along with several other holdings. Notable increases included McDonald’s, Sherwin-Williams, American Tower, Danaher, and Ferrari, while Meta Platforms and Carvana were substantially reduced.

New positions

DISWalt Disney Co/$725.22Mreported value+5.85M shares APDAir Products and Chemicals, Inc.$607.60Mreported value+2.15M shares PNCThe Pnc Financial Services Group, Inc.$442.87Mreported value+2.38M shares XYZBlock, Inc.$368.21Mreported value+5.42M shares

Increased positions

COFCapital One Financial Corp$1.21Breported value+1.08M shares+23.5%JPMJPMorgan Chase & Co$1.17Breported value+1.87M shares+86.1%MCDMcdonald’s Corporation$913.16Mreported value+1.97M shares+171.7%AMZNAmazon.com Inc$854.98Mreported value+1.18M shares

Reduced positions

BACBank of America Corp$1.48Breported value-952.1K shares-3.0%SCHWSchwab Charles Corp$1.44Breported value-1.94M shares-11.0%USBUS Bancorp$1.09Breported value-10.77M shares-30.9%TSMTaiwan Semiconductor Manufacturing$980.54Mreported value-560.0K shares

Exited positions

UNHUnitedHealth Group Incorporated$1.12Bprior reported value-2.14M shares-100.0%INTUIntuit Inc.$1.05Bprior reported value-1.71M shares-100.0%NFLXNetflix, Inc.$698.87Mprior reported value-749.4K shares-100.0%CBChubb Limited$588.60Mprior reported value-1.95M shares