Viking Global Investors

Viking Global's $35.75B book saw aggressive repositioning in Q1 2026, with V vaulting to a 5.35% top position after a near-59% add, while CVNA surged 162% to 2.45% and TMO doubled to 2.29% — signaling conviction in financials, beaten-down autos, and life-science tools simultaneously. New positions in AAPL (2.55%), META (1.70%), and FDX (1.93%) suggest a pivot toward large-cap quality and logistics after exiting AMD, DKNG, ROST, and CHWY entirely; the clean-out of consumer discretionary and speculative names reads as a deliberate de-risking of the growth tail. TSLA was added 47% to 2.59%, a contrarian move given macro uncertainty, while PNC and COF were trimmed sharply (-58% and -45%), indicating selective rather than wholesale bank exposure. The simultaneous build in JPM (+42% to 2.23%) versus cuts in regional banks points to a flight-to-quality within financials. Watch whether CVNA and TSLA are further built or trimmed next quarter — both are high-conviction, high-volatility bets that will define whether this rotation pays off.