Viking Global Investors (Halvorsen)
hedge-fund, active
Quarter Analysis
13F change notes for Viking Global Investors (Halvorsen) in 2025-12-31.
Quiet Viking quarter — book steady at $38B / 76 names, no real concentration change. Three meaningful new positions (Alphabet, ICE, Carpenter-style — but here it's Tesla being scaled into top weight). The bigger story is the unwind: Meta exited after 40 quarters held, Blackrock / Netflix / Nike / Phillip Morris all closed, JPMorgan and Capital One both cut ~60% in shares. This is a financials pullback paired with a clean exit from social-media and Netflix — Halvorsen meaningfully reducing legacy exposures.
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× EXIT
META PLATFORMS INC META
Closed after 40 straight quarters — a 10-year-plus position fully sold.
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+ NEW
ALPHABET INC GOOGL
Initiated 2.2% at +102% unrealized over 26 quarters — likely the GOOGL share class re-entry after a prior exit; Viking back in mega-cap-search.
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▼ REDUCED
CAPITAL ONE FINL CORP COF
Cut -60% in shares; weight halved from 4.1% to 1.9%. Consumer-credit derisking.
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▼ REDUCED
JPMORGAN CHASE & CO. JPM
Cut -62% — large-bank exposure cut deeply alongside COF; a meaningful financials underweight emerging.
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× EXIT
BLACKROCK INC BLK
Closed after only 2 quarters — short-tenured asset-manager bet abandoned.
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× EXIT
NETFLIX INC NFLX
Closed after 31 quarters — a multi-year media holding cleared.
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+ NEW
INTERCONTINENTAL EXCHANGE IN ICE
New 2.1% position at +59% unrealized over 6 quarters — exchanges-as-toll-roads thesis.