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VIKING FUND MANAGEMENT LLC

1 MAIN STREET NORTH, MINOT, ND 58701 • 701-852-5292

Q3 2025 · Filed 2025-10-10
Market Value
$825M
+13.3%
Holdings
152
+6
New Purchases
10
Added To
40
Closed
14
Reduced
24
Top 10 Concentration
27.1%
Turnover
15.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MKC 1.22% 0.00% +1.22% $10M
HPE 1.19% 0.00% +1.19% $10M
LLY 1.02% 0.00% +1.02% $8M
ETR 2.48% 1.48% +1.00% $21M
PEG 0.66% 0.00% +0.66% $5M
ACN 0.60% 0.00% +0.60% $5M
SR 0.59% 0.00% +0.59% $5M
CME 1.38% 0.95% +0.43% $11M
GLW 2.29% 1.88% +0.41% $19M
PRU 1.56% 1.28% +0.28% $13M
LB 0.26% 0.00% +0.26% $2M
EXE 0.39% 0.16% +0.23% $3M
TRP 3.57% 3.36% +0.21% $29M
ABBV 2.16% 1.96% +0.20% $18M
XEL 2.15% 1.96% +0.19% $18M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AEP 0.00% 1.57% -1.57% $0
LYB 0.03% 0.67% -0.64% $245K
NEE 3.61% 4.05% -0.44% $30M
PR 1.15% 1.57% -0.42% $9M
AES 0.05% 0.40% -0.36% $395K
PPC 0.00% 0.31% -0.31% $0
BLK 0.71% 1.01% -0.30% $6M
LRCX 1.14% 1.43% -0.29% $9M
AVGO 3.80% 4.09% -0.29% $31M
BMY 1.75% 2.03% -0.27% $14M
GTLS 0.00% 0.27% -0.27% $0
VST 0.50% 0.75% -0.25% $4M
TGT 0.96% 1.19% -0.24% $8M
UPS 0.59% 0.80% -0.21% $5M
LNG 0.77% 0.97% -0.20% $6M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Energy 27.0%
Technology 15.8%
Financial Services 13.1%
Consumer Defensive 10.7%
Utilities 10.0%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 34 $301M 36.5%
Large Cap 96 $485M 58.8%
Mid Cap 17 $37M 4.5%
Small Cap 5 $2M 0.2%

Portfolio Analytics

Avg Market Cap
$227.0B
Median Market Cap
$66.7B
Avg P/E
34.5
Median P/E
23.2
Avg Dividend Yield
0.03%
Avg Beta
0.87
# Stocks
152
# ETFs / Funds
0

Top Holdings (152 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AVGO 3.80% 95,000 $31M $329.91 $2M -13,000 -12.0%
2 NEE 3.61% 395,000 $30M $75.49 $315K -30,000 -7.1%
3 TRP 3.57% 542,000 $29M $54.41 $5M +40,000 +8.0%
4 CVX 2.85% 151,500 $24M $155.29 $2M +500 +0.3%
5 ETR 2.48% 220,000 $21M $93.19 $10M +90,000 +69.2%
6 GLW 2.29% 230,000 $19M $82.03 $5M -30,000 -11.5%
7 PEP 2.23% 131,000 $18M $140.44 $2M +6,000 +4.8%
8 ABBV 2.16% 77,000 $18M $231.54 $4M
9 XEL 2.15% 220,000 $18M $80.65 $3M +10,000 +4.8%
10 MS 1.97% 102,000 $16M $158.96 $2M
11 BMY 1.75% 321,000 $14M $45.10 -$276K +2,300 +0.7%
12 XOM 1.71% 125,000 $14M $112.75 $619K
13 C 1.60% 130,000 $13M $101.50 $853K -15,000 -10.3%
14 PRU 1.56% 124,000 $13M $103.74 $4M +37,000 +42.5%
15 VZ 1.52% 286,000 $13M $43.95 $2M +50,000 +21.2%
16 QCOM 1.51% 75,000 $12M $166.36 $532K
17 JPM 1.49% 39,000 $12M $315.43 $126K -3,000 -7.1%
18 NVDA 1.47% 65,000 $12M $186.58 $2M
19 T 1.45% 425,000 $12M $28.24 $802K +38,000 +9.8%
20 PSX 1.43% 87,000 $12M $136.02 $858K -5,000 -5.4%
21 MO 1.42% 177,000 $12M $66.06 $1M +1,750 +1.0%
22 CME 1.38% 42,000 $11M $270.19 $4M +17,000 +68.0%
23 HD 1.28% 26,000 $11M $405.19 $1M
24 MKC 1.22% 150,000 $10M $66.91 +150,000 NEW
25 BTI 1.21% 188,000 $10M $53.08 $3M +30,500 +19.4%
26 HPE 1.19% 400,000 $10M $24.56 +400,000 NEW
27 KVUE 1.19% 605,000 $10M $16.23 $505K +160,000 +36.0%
28 PR 1.15% 741,000 $9M $12.80 -$2M -100,000 -11.9%
29 KMB 1.15% 76,000 $9M $124.34 $297K +5,000 +7.0%
30 LRCX 1.14% 70,000 $9M $133.90 -$1M -37,000 -34.6%
31 BAC 1.13% 180,000 $9M $51.59 $769K
32 ENB 1.07% 174,500 $9M $50.46 $1M +10,000 +6.1%
33 PFE 1.03% 334,000 $9M $25.48 $1M +30,000 +9.9%
34 LLY 1.02% 11,000 $8M $763.00 +11,000 NEW
35 MRK 1.02% 100,000 $8M $83.93 $2M +19,000 +23.5%
36 DELL 0.98% 57,000 $8M $141.77 $1M
37 KO 0.96% 120,000 $8M $66.32 $883K +20,000 +20.0%
38 TGT 0.96% 88,000 $8M $89.70 -$788K
39 ORI 0.93% 180,000 $8M $42.47 $2M +30,000 +20.0%
40 GPC 0.92% 55,000 $8M $138.60 $951K
41 EVRG 0.92% 100,000 $8M $76.02 $709K
42 LMT 0.91% 15,000 $7M $499.21 $541K
43 APD 0.86% 26,000 $7M $272.72 -$243K
44 BKR 0.85% 144,000 $7M $48.72 $2M +12,000 +9.1%
45 IBM 0.82% 24,000 $7M $282.16 $287K +2,000 +9.1%
46 KLAC 0.78% 6,000 $6M $1,078.60 $1M
47 LNG 0.77% 27,000 $6M $234.98 -$718K -2,000 -6.9%
48 MCD 0.74% 20,000 $6M $303.89 $234K
49 AFG 0.72% 41,000 $6M $145.72 $800K
50 TXN 0.71% 32,000 $6M $183.73 -$764K
51 BLK 0.71% 5,000 $6M $1,165.87 -$2M -2,000 -28.6%
52 PM 0.69% 35,000 $6M $162.20 -$698K
53 NRG 0.69% 35,000 $6M $161.95 $1M +7,000 +25.0%
54 PAYX 0.66% 43,000 $5M $126.76 -$804K
55 UNM 0.66% 70,000 $5M $77.78 -$209K
56 PEG 0.66% 65,000 $5M $83.46 +65,000 NEW
57 ALL 0.65% 25,000 $5M $214.65 $2M +7,000 +38.9%
58 AAPL 0.65% 21,000 $5M $254.63 $1M
59 V 0.62% 15,000 $5M $341.38 -$205K
60 AROC 0.61% 190,000 $5M $26.31 $2M +50,000 +35.7%
61 VRT 0.60% 33,000 $5M $150.86 $484K -2,000 -5.7%
62 VLO 0.60% 29,000 $5M $170.26 $636K -3,000 -9.4%
63 ACN 0.60% 20,000 $5M $246.60 +20,000 NEW
64 SR 0.59% 60,000 $5M $81.52 +60,000 NEW
65 UPS 0.59% 58,500 $5M $83.53 -$968K +500 +0.9%
66 AR 0.59% 145,000 $5M $33.56 $33K +25,000 +20.8%
67 KGS 0.57% 127,000 $5M $36.97 $2M +38,000 +42.7%
68 TT 0.56% 11,000 $5M $421.96 -$170K
69 NET 0.55% 21,000 $5M $214.59 $394K
70 ITW 0.54% 17,000 $4M $260.76 $230K
71 FSLR 0.53% 20,000 $4M $220.53 $603K -3,000 -13.0%
72 GPOR 0.53% 24,000 $4M $180.98 -$485K
73 TRGP 0.51% 25,000 $4M $167.54 -$164K
74 VST 0.50% 21,000 $4M $195.92 -$1M -7,000 -25.0%
75 MA 0.48% 7,000 $4M $568.81 $48K
76 EQT 0.46% 70,000 $4M $54.43 $1M +30,000 +75.0%
77 INTU 0.41% 5,000 $3M $682.91 -$524K
78 SBUX 0.41% 40,000 $3M $84.60 -$281K
79 EXE 0.39% 30,000 $3M $106.24 $2M +20,000 +200.0%
80 MSFT 0.38% 6,000 $3M $517.95 $123K
81 CYBR 0.35% 6,000 $3M $483.15 $458K
82 WM 0.35% 13,000 $3M $220.83 -$104K
83 PBA 0.34% 70,000 $3M $40.46 $206K
84 PG 0.34% 18,000 $3M $153.65 -$102K
85 AMD 0.33% 17,000 $3M $161.79 $338K
86 SLB 0.33% 80,000 $3M $34.37 $46K
87 EXC 0.33% 60,000 $3M $45.01 $9K -2,000 -3.2%
88 DOCN 0.31% 75,000 $3M $34.16 $420K
89 COP 0.31% 27,000 $3M $94.59 $131K
90 LOW 0.30% 10,000 $3M $251.31 $294K
91 PRIM 0.30% 18,000 $2M $137.33 $601K -6,000 -25.0%
92 SPGI 0.29% 5,000 $2M $486.71 -$203K
93 FANG 0.29% 17,000 $2M $143.10 $97K
94 TMO 0.29% 5,000 $2M $485.02 $398K
95 DE 0.28% 5,000 $2M $457.26 -$256K
96 EE 0.27% 90,000 $2M $25.19 -$372K
97 LB 0.26% 40,000 $2M $53.35 +40,000 NEW
98 KMI 0.26% 75,000 $2M $28.31 -$82K
99 UNH 0.25% 6,000 $2M $345.30 $200K
100 PNC 0.24% 10,000 $2M $200.93 $145K

New Positions

SymbolValue% Port
MKC $10M 1.22%
HPE $10M 1.19%
LLY $8M 1.02%
PEG $5M 0.66%
ACN $5M 0.60%
SR $5M 0.59%
LB $2M 0.26%
TYL $1M 0.13%
CALM $282K 0.03%
TDG $132K 0.02%

Sold Out Positions

SymbolValue% Port
DINO —%
HAL —%
DOW —%
USB —%
GTLS —%
BKE —%
ING —%
UMC —%
PBR —%
ARRY —%
AEP —%
TROW —%
PPC —%
STX —%
View SEC EDGAR Filings for VIKING FUND MANAGEMENT LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms