VIKING FUND MANAGEMENT LLC

CIK

1169069

Location

MINOT, ND

Portfolio Value

Small $975,559,534

Diversification

Diversified

Filing Date

Global Rank

#1,533 / 8,232 ▲ 268

Top Industry

Drug Manufacturers - General 8.6%

3Y Alpha vs SPY

+0.7%

Period ended 2 months ago

Filed Apr 10, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+79.2%

SPY

+76.3%

Annualised alpha

+0.7%

Max drawdown

−15.4%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

142 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

3.5%

−0.1 pts

Top 5

15.6%

+0.5 pts

Top 10

26.6%

+1.1 pts

HHI

141

Diversified+3

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Energy	27.2%	$264,871,520	36
Technology	16.6%	$162,314,094	24
Financial Services	13.0%	$126,508,740	19
Consumer Defensive	10.6%	$103,447,100	12
Utilities	9.7%	$94,737,565	12
Healthcare	9.2%	$90,017,510	10
Consumer Cyclical	4.5%	$43,878,035	9
Industrials	4.1%	$40,337,830	11
Communication Services	4.1%	$40,268,730	3
Basic Materials	0.9%	$9,178,410	6

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
WMB	Williams Companies, Inc.	+200,000	240,000	$17,467,200
VG	Venture Global, Inc.	+80,000	230,000	$3,624,800
T	At&T Inc.	+80,000	575,000	$16,669,250
XEL	Xcel Energy Inc	+70,000	260,000	$20,654,400
HPE	Hewlett Packard Enterprise Co	+60,000	550,000	$13,095,500
EXE	EXPAND ENERGY Corp	+58,000	88,000	$9,660,640
PG	PROCTER & GAMBLE Co	+52,000	80,000	$11,555,200
BMY	Bristol Myers Squibb Co	+52,000	373,000	$22,622,450
MKC	Mccormick & Co Inc	+50,000	200,000	$10,088,000
GPC	Genuine Parts Co	+45,000	100,000	$10,575,000
BAC	Bank Of America Corp /De/	+40,000	220,000	$10,725,000
FANG	Diamondback Energy, Inc.	+38,000	55,000	$10,878,450
KMB	Kimberly Clark Corp	+22,000	103,000	$9,936,410
AVGO	Broadcom Inc.	+20,000	109,000	$33,736,590
BTI	British American Tobacco p.l.c.	+20,000	210,000	$12,278,700
NVO	Novo Nordisk A S	+20,000	270,000	$9,922,500
VZ	Verizon Communications Inc	+20,000	367,000	$18,423,400
TRGP	Targa Resources Corp.	+19,000	50,000	$12,536,500
ABBV	AbbVie Inc.	+17,000	90,000	$19,574,100
KO	Coca Cola Co	+15,000	135,000	$10,266,750
PAYX	Paychex Inc	+12,000	60,000	$5,527,200
CVX	Chevron Corp	+10,000	161,500	$33,414,350
JPM	Jpmorgan Chase & Co	+8,000	44,000	$12,943,040
ALL	Allstate Corp	+7,000	35,000	$7,256,900
MS	Morgan Stanley	+5,000	95,000	$15,634,150
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
PR	Permian Resources Corp	−280,000	411,000	$8,762,520
ENB	Enbridge Inc	−230,000	6,000	$324,840
KVUE	Kenvue Inc.	−200,000	300,000	$5,172,000
TGT	Target Corp	−70,000	18,000	$2,181,600
BBY	Best Buy Co Inc	−49,000	106,000	$6,805,200
GLW	Corning Inc /Ny	−45,000	185,000	$25,154,450
NEE	Nextera Energy Inc	−40,000	285,000	$26,470,800
XOM	Exxon Mobil Corp	−30,000	50,000	$8,483,000
LB	LandBridge Co LLC	−24,000	56,000	$3,866,800
NVDA	Nvidia Corp	−20,000	35,000	$6,104,000
SLB	Slb Limited/Nv	−20,000	60,000	$3,083,400
LRCX	Lam Research Corp	−20,000	20,000	$4,273,200
BKR	Baker Hughes Co	−14,000	130,000	$7,936,500
TRP	Tc Energy Corp	−12,000	530,000	$33,178,000
VRT	Vertiv Holdings Co	−10,000	16,000	$4,009,280
XPRO	Expro Group Holdings N.V.	−10,000	20,000	$348,200
TPL	Texas Pacific Land Corp	−9,900	9,000	$4,271,040
CCJ	Cameco Corp	−9,000	8,000	$868,880
COP	Conocophillips	−7,000	20,000	$2,640,000
NRG	Nrg Energy, Inc.	−6,000	26,000	$3,799,640
PM	Philip Morris International Inc.	−5,000	30,000	$4,960,200
VST	Vistra Corp.	−5,000	20,000	$3,006,600
ETR	Entergy Corp /De/	−5,000	205,000	$23,033,800
TS	Tenaris SA	−3,000	25,000	$1,454,500
KLAC	Kla Corp	−3,000	3,000	$4,417,230
No positions match the current search.

New Positions

Positions the filer opened this quarter

16 positions

Ticker	Company	Shares	Value
SHEL	Shell plc	160,000	$14,880,000
FITB	Fifth Third Bancorp	200,000	$9,292,000
TTE	TotalEnergies SE	100,000	$9,098,000
GOOGL	Alphabet Inc.	18,000	$5,176,080
OVV	Ovintiv Inc.	60,000	$3,561,600
NEXT	NextDecade Corp	450,000	$3,447,000
BMI	Badger Meter Inc	20,000	$3,047,000
DOW	Dow Inc.	60,000	$2,499,000
NTR	Nutrien Ltd.	30,000	$2,263,800
PANW	Palo Alto Networks Inc	13,203	$2,116,704
DAR	Darling Ingredients Inc.	30,000	$1,855,500
CVE	Cenovus Energy Inc.	60,000	$1,591,800
UBS	UBS Group AG	17,000	$664,190
SNY	Sanofi	12,000	$578,160
NGG	National Grid PLC	5,000	$423,000
BKE	Buckle Inc	8,000	$402,880
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
CME	Cme Group Inc.	51,600	$14,090,928
PEG	Public Service Enterprise Group Inc	65,000	$5,219,500
GPOR	Gulfport Energy Corp	24,000	$4,991,760
EE	Excelerate Energy, Inc.	90,000	$2,524,500
PRIM	Primoris Services Corp	17,000	$2,110,380
MNDY	monday.com Ltd.	10,000	$1,475,600
CEG	Constellation Energy Corp	4,000	$1,413,080
BE	Bloom Energy Corp	12,000	$1,042,680
TYL	Tyler Technologies Inc	2,000	$907,900
KHC	Kraft Heinz Co	6,000	$145,500
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

142 positions · $975,559,534 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 142 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AVGO	Broadcom Inc. Technology	Added	109,000	+20,000	$33,736,590	+9.5%	3.46%
CVX	Chevron Corp Energy	Added	161,500	+10,000	$33,414,350	+44.7%	3.43%
TRP	Tc Energy Corp Energy	Reduced	530,000	-12,000	$33,178,000	+11.3%	3.40%
NEE	Nextera Energy Inc Utilities	Reduced	285,000	-40,000	$26,470,800	+1.5%	2.71%
GLW	Corning Inc /Ny Technology	Reduced	185,000	-45,000	$25,154,450	+24.9%	2.58%
ETR	Entergy Corp /De/ Utilities	Reduced	205,000	-5,000	$23,033,800	+18.7%	2.36%
BMY	Bristol Myers Squibb Co Healthcare	Added	373,000	+52,000	$22,622,450	+30.7%	2.32%
PEP	Pepsico Inc Consumer Defensive	Held	139,000	0	$21,585,310	+8.2%	2.21%
XEL	Xcel Energy Inc Utilities	Added	260,000	+70,000	$20,654,400	+47.2%	2.12%
ABBV	AbbVie Inc. Healthcare	Added	90,000	+17,000	$19,574,100	+17.4%	2.01%
VZ	Verizon Communications Inc Communication Services	Added	367,000	+20,000	$18,423,400	+30.4%	1.89%
WMB	Williams Companies, Inc. Energy	Added	240,000	+200,000	$17,467,200	+626.5%	1.79%
T	At&T Inc. Communication Services	Added	575,000	+80,000	$16,669,250	+35.6%	1.71%
MS	Morgan Stanley Financial Services	Added	95,000	+5,000	$15,634,150	−2.2%	1.60%
PSX	Phillips 66 Energy	Reduced	85,000	-2,000	$15,485,300	+37.9%	1.59%
SHEL	Shell plc Energy	NEW	160,000	NEW	$14,880,000	NEW	1.53%
MO	Altria Group, Inc. Consumer Defensive	Held	202,000	0	$13,329,980	+14.4%	1.37%
HPE	Hewlett Packard Enterprise Co Technology	Added	550,000	+60,000	$13,095,500	+11.3%	1.34%
JPM	Jpmorgan Chase & Co Financial Services	Added	44,000	+8,000	$12,943,040	+11.6%	1.33%
AFG	American Financial Group Inc Financial Services	Held	101,000	0	$12,898,710	−6.6%	1.32%
LNG	Cheniere Energy, Inc. Energy	Held	45,000	0	$12,769,200	+46.0%	1.31%
TRGP	Targa Resources Corp. Energy	Added	50,000	+19,000	$12,536,500	+119.2%	1.29%
BTI	British American Tobacco p.l.c. Consumer Defensive	Added	210,000	+20,000	$12,278,700	+14.1%	1.26%
PRU	Prudential Financial Inc Financial Services	Added	125,000	+1,000	$12,211,250	−12.8%	1.25%
MRK	Merck & Co., Inc. Healthcare	Held	100,000	0	$12,029,000	+14.3%	1.23%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	80,000	+52,000	$11,555,200	+188.0%	1.18%
C	Citigroup Inc Financial Services	Held	98,000	0	$11,114,180	−2.8%	1.14%
FANG	Diamondback Energy, Inc. Energy	Added	55,000	+38,000	$10,878,450	+325.7%	1.12%
BAC	Bank Of America Corp /De/ Financial Services	Added	220,000	+40,000	$10,725,000	+8.3%	1.10%
GPC	Genuine Parts Co Consumer Cyclical	Added	100,000	+45,000	$10,575,000	+56.4%	1.08%
KO	Coca Cola Co Consumer Defensive	Added	135,000	+15,000	$10,266,750	+22.4%	1.05%
LLY	ELI LILLY & Co Healthcare	Added	11,000	+2,700	$10,117,470	+13.4%	1.04%
MKC	Mccormick & Co Inc Consumer Defensive	Added	200,000	+50,000	$10,088,000	−1.3%	1.03%
KMB	Kimberly Clark Corp Consumer Defensive	Added	103,000	+22,000	$9,936,410	+21.6%	1.02%
NVO	Novo Nordisk A S Healthcare	Added	270,000	+20,000	$9,922,500	−22.0%	1.02%
EXE	EXPAND ENERGY Corp Energy	Added	88,000	+58,000	$9,660,640	+191.8%	0.99%
QCOM	Qualcomm Inc/De Technology	Held	75,000	0	$9,658,500	−24.7%	0.99%
PFE	Pfizer Inc Healthcare	Added	338,000	+2,500	$9,491,040	+13.6%	0.97%
FITB	Fifth Third Bancorp Financial Services	NEW	200,000	NEW	$9,292,000	NEW	0.95%
HD	Home Depot, Inc. Consumer Cyclical	Held	28,000	0	$9,208,920	−4.4%	0.94%
KGS	Kodiak Gas Services, Inc. Energy	Held	157,000	0	$9,156,240	+55.9%	0.94%
TTE	TotalEnergies SE Energy	NEW	100,000	NEW	$9,098,000	NEW	0.93%
PR	Permian Resources Corp Energy	Reduced	411,000	-280,000	$8,762,520	−9.6%	0.90%
XOM	Exxon Mobil Corp Energy	Reduced	50,000	-30,000	$8,483,000	−11.9%	0.87%
EVRG	Evergy, Inc. Utilities	Held	100,000	0	$8,192,000	+13.0%	0.84%
ORI	Old Republic International Corp Financial Services	Held	200,000	0	$7,980,000	−12.6%	0.82%
BKR	Baker Hughes Co Energy	Reduced	130,000	-14,000	$7,936,500	+21.0%	0.81%
LMT	Lockheed Martin Corp Industrials	Reduced	13,000	-2,000	$7,857,070	+8.3%	0.81%
AROC	Archrock, Inc. Energy	Held	220,000	0	$7,656,000	+33.7%	0.78%
ALL	Allstate Corp Financial Services	Added	35,000	+7,000	$7,256,900	+24.5%	0.74%