Latest VIKING FUND MANAGEMENT LLC Stock Portfolio

VIKING FUND MANAGEMENT LLC Performance:

2025 Q4: 0.6%YTD: 11.44%2024: 11.84%

Performance for 2025 Q4 is 0.6%, and YTD is 11.44%, and 2024 is 11.84%.

About VIKING FUND MANAGEMENT LLC and 13F Hedge Fund Stock Holdings

VIKING FUND MANAGEMENT LLC is a hedge fund based in MINOT, ND. On 27-Mar-2023, the fund reported that it had an AUM (Regulated Assets under Management) of $851.4 Millions. In it's latest 13F Holdings report, VIKING FUND MANAGEMENT LLC reported an equity portfolio of $862.8 Millions as of 31 Dec, 2025.

The top stock holdings of VIKING FUND MANAGEMENT LLC are AVGO, , NEE. The fund has invested 3.6% of it's portfolio in BROADCOM INC and 3.5% of portfolio in TC ENERGY CORP.

The fund managers got completely rid off PEMBINA PIPELINE, COTERRA ENERGY CORP (CTRA) and MODINE MFG CO (MOD) stocks. They significantly reduced their stock positions in AIR PRODS & CHEM (APD), BHP GROUP-ADR and LAM RESEARCH (LRCX). VIKING FUND MANAGEMENT LLC opened new stock positions in NOVO-NORDISK-ADR, MARSH & MCLENNAN (MMC) and MURPHY USA INC (MUSA). The fund showed a lot of confidence in some stocks as they added substantially to BEST BUY CO INC (BBY), TEXAS PACIFIC LA (TPL) and AMER FINL GROUP (AFG).

VIKING FUND MANAGEMENT LLC Annual Return Estimates Vs S&P 500

Our best estimate is that VIKING FUND MANAGEMENT LLC made a return of 0.6% in the last quarter. In trailing 12 months, it's portfolio return was 11.44%.

Performance
S&P 500

New Buys

Ticker	$ Bought
novo-nordisk-adr	12,720,000
marsh & mclennan	3,153,840
murphy usa inc	2,421,120
williams cos inc	2,404,400
bloom energy c-a	1,042,680
diversified ener	217,200
kraft heinz co/t	145,500

New stocks bought by VIKING FUND MANAGEMENT LLC

Additions

Ticker	% Inc.
best buy co inc	3,000
texas pacific la	845
amer finl group	146
dorian lpg ltd	100
landbridge co ll	100
south bow corp	100
cheniere energy	66.67
procter & gamble	55.56

Additions to existing portfolio by VIKING FUND MANAGEMENT LLC

Reductions

Ticker	% Reduced
air prods & chem	-57.69
bhp group-adr	-50.00
lam research	-42.86
rio tinto-adr	-42.86
exxon mobil corp	-36.00
citigroup inc	-24.62
dell techn-c	-24.56
eli lilly & co	-24.55

VIKING FUND MANAGEMENT LLC reduced stake in above stock

Sold off

Ticker	$ Sold
patterson-uti	-518,000
coterra energy corp	-1,655,500
pembina pipeline	-2,832,200
aes corp	-394,800
diversified ener	-210,150
wendy's co/the	-109,920
modine mfg co	-1,137,280
bce inc	-140,340

VIKING FUND MANAGEMENT LLC got rid off the above stocks

Sector Distribution

VIKING FUND MANAGEMENT LLC has about 17.9% of it's holdings in Technology sector.

Sector	%
Technology	17.9
Energy	15.1
Financial Services	14.9
Others	11.1
Utilities	10.5
Consumer Defensive	8.9
Healthcare	7.9
Industrials	5.1
Consumer Cyclical	5.1
Communication Services	3.1

Market Cap. Distribution

VIKING FUND MANAGEMENT LLC has about 83.8% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	59.8
MEGA-CAP	24
UNALLOCATED	11.1
MID-CAP	5

Stocks belong to which Index?

About 79.9% of the stocks held by VIKING FUND MANAGEMENT LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	75.6
Others	20.1
RUSSELL 2000	4.3

Top 5 Winners (%)		%
DOCN	digitalocean hol	40.9 %
LLY	eli lilly & co	35.8 %
AMD	adv micro device	32.4 %
MRK	merck & co	25.4 %
FDX	fedex corp	22.5 %

Top 5 Winners ($)		$
LLY	eli lilly & co	3.0 M
BMY	bristol-myer sqb	2.8 M
MRK	merck & co	2.1 M
LRCX	lam research	2.1 M
MS	morgan stanley	1.8 M

Top 5 Losers (%)		%
TPL	texas pacific la	-55.4 %
	venture global-a	-51.1 %
	monday.com ltd	-23.8 %
GNRC	generac holdings	-18.5 %
KMB	kimberly-clark	-18.4 %

Top 5 Losers ($)		$
TPL	texas pacific la	-6.8 M
KMB	kimberly-clark	-1.8 M
HD	home depot inc	-1.6 M
MO	altria group inc	-1.6 M
T	at&t inc	-1.6 M

VIKING FUND MANAGEMENT LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of VIKING FUND MANAGEMENT LLC

VIKING FUND MANAGEMENT LLC has 137 stocks in it's portfolio. About 25.4% of the portfolio is in top 10 stocks. TPL proved to be the most loss making stock for the portfolio. LLY was the most profitable stock for VIKING FUND MANAGEMENT LLC last quarter.

Last Reported on: 12 Jan, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	0.66	21,000	5,709,060	unchanged	0.00

ABBV	abbvie inc	1.93	73,000	16,679,800	reduced	-5.19

ACN	accenture plc-a	0.62	20,000	5,366,000	unchanged	0.00

AES	aes corp	0.00	0.00	0.00	sold off	-100

AFG	amer finl group	1.60	101,000	13,804,700	added	146

ALL	allstate corp	0.68	28,000	5,828,200	added	12.00

AMD	adv micro device	0.42	17,000	3,640,720	unchanged	0.00

APD	air prods & chem	0.32	11,000	2,717,220	reduced	-57.69

AR	antero resources	0.48	120,000	4,135,200	reduced	-17.24

AROC	archrock inc	0.66	220,000	5,724,400	added	15.79

AVGO	broadcom inc	3.57	89,000	30,802,900	reduced	-6.32

BAC	bank of america	1.15	180,000	9,900,000	unchanged	0.00

BBY	best buy co inc	1.20	155,000	10,374,200	added	3,000

BE	bloom energy c-a	0.12	12,000	1,042,680	new

BKR	baker hughes a	0.76	144,000	6,557,760	unchanged	0.00

BMY	bristol-myer sqb	2.01	321,000	17,314,700	unchanged	0.00

C	citigroup inc	1.32	98,000	11,435,600	reduced	-24.62

CALM	cal-maine foods	0.03	3,000	238,710	unchanged	0.00

CAT	caterpillar inc	0.27	4,000	2,291,480	unchanged	0.00

CEG	constellation en	0.16	4,000	1,413,080	unchanged	0.00