VIKING FUND MANAGEMENT LLC

Q4 2025 13F-HR Holdings

Location
Minot, ND
Holdings as of
12/31/2025
Date filed
1/12/2026
Form type
13F-HR
Num holdings
137
Total value ($000)
$862,782
Net value change ($000)
+35,377 (4.3%)
New positions
7
Sold out positions
11
Turnover %
3.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/10/2025 Next filing: 4/10/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
NVO 12,720 NEW
BBY 9,996 2644.4%
AFG 7,830 131.0%
TPL 3,561 190.7%
MRSH 3,154 NEW
BMY 2,838 19.6%
CME 2,743 24.2%
ENB 2,483 28.2%
MUSA 2,421 NEW
WMB 2,404 NEW
Top Reduces (Value $000, Stocks/ETFs)
XOM -4,467 -31.7%
APD -4,374 -61.7%
NEE -3,728 -12.5%
XEL -3,710 -20.9%
PBA -2,832 -100.0%
DELL -2,668 -33.0%
LRCX -2,526 -26.9%
NVDA -1,870 -15.4%
C -1,759 -13.3%
CTRA -1,656 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
Filter:
Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type