VIKING FUND MANAGEMENT LLC

13F filer, CIK 1169069, MINOT, ND

VIKING FUND MANAGEMENT LLC reported $693,649,179 across 140 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-04-10. Its ten largest share positions make up 26.39% of the portfolio.

Filed 2025-04-10 (acceptance time not in the bulk data set), ingested 2026-10-07 18:25:06 UTC13F-HR 0001169069-25-000004

Period: 2025-03-31
Reported value: $694M
Holdings: 140
Top 10 weight: 26.39%
New: 16
Sold out: 8

Largest buys vs the previous quarter

Security	Shares change	Approx. value
NEEadded	+200,000	$14.2M
PEPadded	+45,000	$6.75M
BMYadded	+100,000	$6.1M
EVRGnew	+80,000	$5.52M
AFGnew	+41,000	$5.38M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

Security	Shares change	Approx. value
ETRreduced	-60,000	-$5.13M
SBUXreduced	-45,000	-$4.41M
ABBVreduced	-20,000	-$4.19M
PMreduced	-26,000	-$4.13M
BCEreduced	-150,000	-$3.44M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001169069-25-000004, largest first. % of portfolio is the value over $693,649,179, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Timeline
NEENEXTERA ENERGY INC	495,000	$35.1M	5.06%	+200,000	Timeline
AVGOBROADCOM INC	123,000	$20.6M	2.97%	0	Timeline
CVXCHEVRON CORPORATION	117,000	$19.6M	2.82%	+10,000	Timeline
BMYBRISTOL-MYERS SQUIBB CO	318,700	$19.4M	2.8%	+100,000	Timeline
ABBVABBVIE INC	90,000	$18.9M	2.72%	-20,000	Timeline
TRPTC ENERGY CORP	382,000	$18M	2.6%	0	Timeline
PEPPEPSICO INC	111,000	$16.6M	2.4%	+45,000	Timeline
AEPAMERICAN ELEC PWR CO INC	110,000	$12M	1.73%	-10,500	Timeline
GLWCORNING INC	250,000	$11.4M	1.65%	0	Timeline
PRPERMIAN RESOURCES CORP	821,000	$11.4M	1.64%	+40,000	Timeline
XELXCEL ENERGY INC	160,000	$11.3M	1.63%	0	Timeline
MSMORGAN STANLEY	95,000	$11.1M	1.6%	0	Timeline
QCOMQUALCOMM INC	72,000	$11.1M	1.59%	0	Timeline
TAT&T INC	387,000	$10.9M	1.58%	+53,000	Timeline
PSXPHILLIPS 66	87,000	$10.7M	1.55%	+20,000	Timeline
MOALTRIA GROUP INC	175,250	$10.5M	1.52%	+20,000	Timeline
JPMJPMORGAN CHASE & CO	42,000	$10.3M	1.49%	0	Timeline
KMBKIMBERLY-CLARK CORP	71,000	$10.1M	1.46%	0	Timeline
VZVERIZON COMMUNICATIONS INC	216,000	$9.8M	1.41%	+1,000	Timeline
PFEPFIZER INC	384,000	$9.73M	1.4%	0	Timeline
KVUEKENVUE INC	400,000	$9.59M	1.38%	+100,000	Timeline
CCITIGROUP INC	135,000	$9.58M	1.38%	+5,000	Timeline
ETRENTERGY CORP NEW	112,000	$9.57M	1.38%	-60,000	Timeline
HDHOME DEPOT INC	26,000	$9.53M	1.37%	+3,000	Timeline
PRUPRUDENTIAL FINL INC	83,000	$9.27M	1.34%	+1,500	Timeline
LNGCHENIERE ENERGY INC	39,000	$9.02M	1.3%	0	Timeline
MRKMERCK & CO INC	100,000	$8.98M	1.29%	0	Timeline
CTRACOTERRA ENERGY INC	310,000	$8.96M	1.29%	+20,000	Timeline
BLKBLACKROCK INC	9,000	$8.52M	1.23%	-3,000	Timeline
ORIOLD REP INTL CORP	200,000	$7.84M	1.13%	-6,000	Timeline
AESAES CORP	630,000	$7.82M	1.13%	+410,000	Timeline
LRCXLAM RESEARCH CORP	107,000	$7.78M	1.12%	0	Timeline
APDAIR PRODUCTS AND CHEMICALS I	26,000	$7.67M	1.11%	0	Timeline
BACBANK OF AMER CORP	180,000	$7.51M	1.08%	0	Timeline
PMPHILIP MORRIS INTL INC	47,000	$7.46M	1.08%	-26,000	Timeline
TXNTEXAS INSTRS INC	41,000	$7.37M	1.06%	0	Timeline
NVDANVIDIA CORPORATION	65,000	$7.04M	1.02%	0	Timeline
LMTLOCKHEED MARTIN CORP	15,000	$6.7M	0.97%	+3,000	Timeline
PAYXPAYCHEX INC	43,000	$6.63M	0.96%	0	Timeline
CMECME GROUP INC	25,000	$6.63M	0.96%	-1,400	Timeline
GPCGENUINE PARTS CO	55,000	$6.55M	0.94%	0	Timeline
BTIBRITISH AMERN TOB PLC	157,500	$6.52M	0.94%	0	Timeline
UPSUNITED PARCEL SVCS INC	57,000	$6.27M	0.9%	+17,000	Timeline
TGTTARGET CORP	60,000	$6.26M	0.9%	+10,000	Timeline
MCDMCDONALDS CORP	20,000	$6.25M	0.9%	0	Timeline
XOMEXXON MOBIL CORP	50,000	$5.95M	0.86%	-10,000	Timeline
BKRBAKER HUGHES COMPANY	132,000	$5.8M	0.84%	0	Timeline
KOCOCA COLA CO	80,000	$5.73M	0.83%	+30,000	Timeline
UNMUNUM GROUP	70,000	$5.7M	0.82%	0	Timeline
ARANTERO RESOURCES CORP	140,000	$5.66M	0.82%	0	Timeline
EVRGEVERGY INC	80,000	$5.52M	0.8%	new	Timeline
IBMINTERNATIONAL BUSINESS MACHS	22,000	$5.47M	0.79%	-200	Timeline
AFGAMERICAN FINANCIAL GROUP INC	41,000	$5.38M	0.78%	new	Timeline
VVISA INC	15,000	$5.26M	0.76%	0	Timeline
TRGPTARGA RES CORP	26,000	$5.21M	0.75%	0	Timeline
LYBLYONDELLBASELL INDUSTRIES NV	70,000	$4.93M	0.71%	+27,000	Timeline
AAPLAPPLE INC	21,000	$4.66M	0.67%	0	Timeline
ENBENBRIDGE INC	104,500	$4.63M	0.67%	0	Timeline
GPORGULFPORT ENERGY CORP	24,000	$4.42M	0.64%	+4,000	Timeline
EQTEQT CORP	80,000	$4.27M	0.62%	-30,000	Timeline
VLOVALERO ENERGY CORP	32,000	$4.23M	0.61%	0	Timeline
ITWILLINOIS TOOL WKS INC	17,000	$4.22M	0.61%	0	Timeline
DELLDELL TECHNOLOGIES INC	45,000	$4.1M	0.59%	0	Timeline
KLACKLA CORP	6,000	$4.08M	0.59%	0	Timeline
SBUXSTARBUCKS CORP	40,000	$3.92M	0.57%	-45,000	Timeline
MAMASTERCARD INCORPORATED	7,000	$3.84M	0.55%	0	Timeline
TTTRANE TECHNOLOGIES PLC	11,000	$3.71M	0.53%	0	Timeline
PBAPEMBINA PIPELINE CORP	90,000	$3.6M	0.52%	-1,400	Timeline
SWKSSKYWORKS SOLUTIONS INC	55,000	$3.55M	0.51%	0	Timeline
VSTVISTRA CORP	29,000	$3.41M	0.49%	+10,000	Timeline
SLBSLB LIMITED	80,000	$3.34M	0.48%	0	Timeline
FANGDIAMONDBACK ENERGY INC	20,000	$3.2M	0.46%	0	Timeline
INTUINTUIT	5,000	$3.07M	0.44%	0	Timeline
PGPROCTER & GAMBLE CO	18,000	$3.07M	0.44%	0	Timeline
NRGNRG ENERGY INC	32,000	$3.05M	0.44%	+2,000	Timeline
WMWASTE MGMT INC DEL	13,000	$3.01M	0.43%	0	Timeline
EXCEXELON CORP	62,000	$2.86M	0.41%	0	Timeline
CSCOCISCO SYS INC	45,000	$2.78M	0.4%	0	Timeline
KGSKODIAK GAS SVCS INC	74,000	$2.76M	0.4%	+4,000	Timeline
VRTVERTIV HOLDINGS CO	38,000	$2.74M	0.4%	+21,000	Timeline
FSLRFIRST SOLAR INC	21,000	$2.66M	0.38%	+4,000	Timeline
EEEXCELERATE ENERGY INC	90,000	$2.58M	0.37%	-10,000	Timeline
SPGIS&P GLOBAL INC	5,000	$2.54M	0.37%	0	Timeline
COPCONOCOPHILLIPS	24,000	$2.52M	0.36%	+4,000	Timeline
TMOTHERMO FISHER SCIENTIFIC INC	5,000	$2.49M	0.36%	0	Timeline
NETCLOUDFLARE INC	21,000	$2.37M	0.34%	0	Timeline
DEDEERE & CO	5,000	$2.35M	0.34%	0	Timeline
LOWLOWES COS INC	10,000	$2.33M	0.34%	0	Timeline
MSFTMICROSOFT CORP	6,000	$2.25M	0.32%	0	Timeline
DOCNDIGITALOCEAN HLDGS INC	65,000	$2.17M	0.31%	new	Timeline
KMIKINDER MORGAN INC DEL	75,000	$2.14M	0.31%	0	Timeline
UNHUNITEDHEALTH GROUP INC	4,000	$2.1M	0.3%	0	Timeline
PNCPNC FINL SVCS GROUP INC	10,000	$1.76M	0.25%	0	Timeline
AMDADVANCED MICRO DEVICES INC	17,000	$1.75M	0.25%	0	Timeline
FDXFEDEX CORP	7,000	$1.71M	0.25%	0	Timeline
GTLSCHART INDS INC	11,000	$1.59M	0.23%	+1,000	Timeline
GEVGE VERNOVA INC	5,000	$1.53M	0.22%	new	Timeline
EWEDWARDS LIFESCIENCES CORP	20,000	$1.45M	0.21%	0	Timeline
NXTNEXTPOWER INC	32,000	$1.35M	0.19%	0	Timeline
CATCATERPILLAR INC	4,000	$1.32M	0.19%	0	Timeline
DINOHF SINCLAIR CORP	40,000	$1.32M	0.19%	0	Timeline
AROCARCHROCK INC	50,000	$1.31M	0.19%	new	Timeline
FTITECHNIPFMC PLC	40,000	$1.27M	0.18%	new	Timeline
MNDYMONDAY COM LTD	5,000	$1.22M	0.18%	new	Timeline
PARRPAR PAC HOLDINGS INC	75,000	$1.07M	0.15%	0	Timeline
TPLTEXAS PACIFIC LAND CORPORATI	800	$1.06M	0.15%	-200	Timeline
TSLATESLA INC	4,000	$1.04M	0.15%	+1,000	Timeline
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAEL	3,000	$1.01M	0.15%	new
MODMODINE MFG CO	13,000	$998K	0.14%	new	Timeline
XPROEXPRO GROUP HOLDINGS NV	100,000	$994K	0.14%	+20,000	Timeline
TSTENARIS S A	25,000	$978K	0.14%	-35,000	Timeline
PTENPATTERSON-UTI ENERGY INC	100,000	$822K	0.12%	-80,000	Timeline
SOBOSOUTH BOW CORP	31,400	$801K	0.12%	0	Timeline
PWRQUANTA SVCS INC	3,000	$763K	0.11%	new	Timeline
HALHALLIBURTON CO	30,000	$761K	0.11%	0	Timeline
SHLSSHOALS TECHNOLOGIES GROUP IN	215,000	$714K	0.1%	0	Timeline
PRIMPRIMORIS SVCS CORP	12,000	$689K	0.1%	new	Timeline
GNRCGENERAC HLDGS INC	5,000	$633K	0.09%	0	Timeline
ARRYARRAY TECHNOLOGIES INC	90,000	$438K	0.06%	0	Timeline
PBRPETROLEO BRASILEIRO S A	23,000	$330K	0.05%	+3,000	Timeline
DOWDOW HLDGS INC	9,000	$314K	0.05%	0	Timeline
RIORIO TINTO PLC	4,500	$270K	0.04%	+1,100	Timeline
ESEVERSOURCE ENERGY	4,000	$248K	0.04%	0	Timeline
USBUS BANCORP	5,340	$225K	0.03%	0	Timeline
LPGDORIAN LPG LTD	9,000	$201K	0.03%	0	Timeline
DDOMINION ENERGY INC	3,500	$196K	0.03%	0	Timeline
PPCPILGRIMS PRIDE CORP	3,400	$185K	0.03%	new	Timeline
BBYBEST BUY INC	2,500	$184K	0.03%	+500	Timeline
PORPORTLAND GEN ELEC CO	4,000	$178K	0.03%	0	Timeline
STXSEAGATE TECHNOLOGY HLDNGS PL	2,000	$170K	0.02%	0	Timeline
SNYSANOFI SA	3,000	$166K	0.02%	new	Timeline
BHPBHP BILLITON LIMITED	3,000	$146K	0.02%	+2,000	Timeline
BCEBCE INC	6,000	$138K	0.02%	-150,000	Timeline
RFREGIONS FINANCIAL CORP NEW	6,000	$130K	0.02%	0	Timeline
TFCTRUIST FINL CORP	3,000	$123K	0.02%	new	Timeline
WENWENDYS CO	8,000	$117K	0.02%	+3,000	Timeline
BKEBUCKLE INC	3,000	$115K	0.02%	new	Timeline
NVSNOVARTIS AG	1,000	$111K	0.02%	new	Timeline
WHRWHIRLPOOL CORP	1,000	$90.1K	0.01%	0	Timeline
TROWPRICE T ROWE GROUP INC	600	$55.1K	0.01%	0	Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

Security	Shares before	Value before	Type
WFRDWEATHERFORD INTL PLC	26,000	$1.86M	shares
NEMNEWMONT CORP	50,000	$1.86M	shares
ENPHENPHASE ENERGY INC	20,000	$1.37M	shares
CFGCITIZENS FINL GROUP INC	3,000	$131K	shares
QSRRESTAURANT BRANDS INTL INC	2,000	$130K	shares
NTRNUTRIEN LTD	2,000	$89.5K	shares
CHRDCHORD ENERGY CORPORATION	400	$46.8K	shares
WALGREENS BOOTS ALLIANCE INCWALGREENS BOOTS ALLIANCE INC	4,300	$40.1K	shares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001169069-25-000004	base		2025-04-10	acceptance time not in the bulk data set	2026-10-07 18:25:06 UTC