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Funds (13F)

Viking Global Investors LP

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+15.5%
S&P 500 +14.1%
Last 12 months
+13.5%
S&P 500 +12.1%
Sharpe ratio
0.77
S&P 500 0.78
Biggest drop
−33.0%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $67.3k$57.0k
Viking Global Investors LPS&P 500 $10,000 in Viking Global Investors LP from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Viking Global Investors LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Viking Global Investors LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+15.5%+14.1%
Total return+573%+470%
Last 12 months+13.5%+12.1%
Last 3 months+1.3%—
Last month+3.0%—
This year so far+7.2%—
Volatility a year18.5%16.0%
Sharpe ratio0.770.78
Biggest drop−33.0%−31.8%
Beta to the S&P 5001.041.00
Alpha a year (t-statistic)+1.2% (0.52)—
Share of weeks up58%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
V6.3%——
TSM4.4%——
APD4.0%——
SHW3.9%——
FTV3.5%——
META3.0%——
SCHW2.8%——
TMO2.8%——
JPM2.7%——
LII2.6%——
AMZN2.5%——
RACE2.4%——
CVNA2.3%——
MCD2.2%——
BBIO2.1%——
BA2.0%——
MAA2.0%——
DIS2.0%——
FDX1.9%——
MSCI1.9%——
ADPT1.9%——
WAT1.8%——
JCI1.8%——
UNP1.6%——
MSFT1.6%——
SE1.6%——
CPT1.5%——
RRX1.4%——
BMRN1.3%——
IBKR1.2%——
DLR1.2%——
CCL1.2%——
GM1.1%——
AON1.1%——
CVS1.1%——
FDXF1.0%——
ICE1.0%——
MS1.0%——
HD0.9%——
TIC0.8%——
QCOM0.8%——
APTV0.8%——
RDDT0.8%——
HAS0.7%——
DKS0.7%——
SNOW0.7%——
EQH0.7%——
TTWO0.7%——
TSLA0.7%——
ATI0.7%——
ROIV0.6%——
SPCX0.6%——
AS0.6%——
MANE0.6%——
MDLN0.6%——
BCE0.5%——
USFD0.5%——
ORKA0.4%——
NAMS0.4%——
SION0.4%——
CB0.4%——
PHVS0.4%——
UBS0.3%——
BTSG0.3%——
INBX0.3%——
NTRA0.3%——
COF0.2%——
CRBG0.2%——
SEDG0.2%——
ORIC0.2%——
BRKR0.2%——
LAB0.1%——
DNA0.1%——
CME0.1%——
TRVI0.1%——
INFQ0.1%——
ARTV0.1%——
QNT0.1%——
FRVO0.1%——
ALT0.1%——
TOL0.1%——
DPC0.0%——
XE0.0%——
RLYB0.0%——
PEPG0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+15.5%+14.1%0.770.78−33.0%1.04+1.2% (0.52)
2018 onwards5 Jan 2018 to 2 Nov 2026+14.7%+13.9%0.640.66−33.0%1.02+0.8% (0.27)
Last three years3 Nov 2023 to 2 Nov 2026+21.8%+21.8%1.111.16−15.8%0.95+1.0% (0.27)
Last year7 Nov 2025 to 2 Nov 2026+15.4%+14.2%0.870.84−10.9%0.89+2.2% (0.31)
DateCompanyAction
21 Aug 2026XEBought
21 Aug 2026USFDBought
21 Aug 2026UNPBought
21 Aug 2026UBSBought
21 Aug 2026TTWOBought
21 Aug 2026TOLBought
21 Aug 2026SPCXBought
21 Aug 2026SNOWBought
21 Aug 2026SEDGBought
21 Aug 2026RACEBought
21 Aug 2026QNTBought
21 Aug 2026QCOMBought
21 Aug 2026NTRABought
21 Aug 2026MSCIBought
21 Aug 2026MSBought
21 Aug 2026INFQBought
21 Aug 2026FRVOBought
21 Aug 2026FDXFBought
21 Aug 2026EQHBought
21 Aug 2026DPCBought
21 Aug 2026DLRBought
21 Aug 2026CVSBought
21 Aug 2026CRBGBought
21 Aug 2026CMEBought
21 Aug 2026CCLBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026WSTSold
21 Aug 2026TWLOSold
21 Aug 2026TMUSSold
21 Aug 2026STLASold
21 Aug 2026RALSold
21 Aug 2026PNCSold
21 Aug 2026PGRSold
21 Aug 2026LULUSold
21 Aug 2026HCASold
21 Aug 2026GOOGLSold
21 Aug 2026FPSSold
21 Aug 2026EWSold
21 Aug 2026EQPTSold
21 Aug 2026CSXSold
21 Aug 2026CRWVSold
21 Aug 2026CLSSold
21 Aug 2026CBOESold
21 Aug 2026APGSold
21 Aug 2026AJGSold
21 Aug 2026AIGSold
21 Aug 2026AAPLSold
22 May 2026UNHSold
22 May 2026UBSSold
22 May 2026SAIASold
22 May 2026ROSTSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest