DaveManuel.com · Institutional Ownership · 13F Holdings
VIKING FUND MANAGEMENT LLC
Reported holdings as of Q3 2026, from 32 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| WILLIAMS COS INC | WMB | $45.8M | 674,000 | +1.65pp | 4q | +90.4%+$21.8M | |
| BROADCOM INC | AVGO | $41.4M | 118,000 | -0.08pp | 32q | +7.8%+$3.0M | |
| CHEVRON CORPORATION | CVX | $40.7M | 199,500 | +0.69pp | 12q | +3.1%+$1.2M | |
| ABBVIE INC | ABBV | $28.8M | 110,000 | +0.04pp | 32q | HELD | |
| NEXTERA ENERGY INC | NEE | $27.1M | 357,300 | +0.11pp | 24q | +24.4%+$5.3M | |
| ENTERGY CORP NEW | ETR | $24.5M | 247,000 | +0.15pp | 25q | +27.3%+$5.3M | |
| BRISTOL-MYERS SQUIBB CO | BMY | $23.3M | 373,000 | -0.25pp | 16q | -15.8%-$4.4M | |
| TC ENERGY CORP | TRP | $23.1M | 400,000 | -0.65pp | 16q | -11.1%-$2.9M | |
| PEPSICO INC | PEP | $22.8M | 180,000 | +0.31pp | 32q | +29.5%+$5.2M | |
| XCEL ENERGY INC | XEL | $21.1M | 300,000 | -0.02pp | 11q | +15.4%+$2.8M | |
| HEWLETT PACKARD ENTERPRISE C | HPE | $20.4M | 320,000 | -0.23pp | 5q | -36.0%-$11.5M | |
| GENUINE PARTS CO | GPC | $20.1M | 160,000 | +0.07pp | 32q | HELD | |
| CORNING INC | GLW | $20.0M | 130,000 | -1.22pp | 10q | HELD | |
| KIMBERLY CLARK CORP | KMB | $18.1M | 186,000 | +0.01pp | 32q | +16.2%+$2.5M | |
| MORGAN STANLEY | MS | $17.9M | 95,000 | -0.21pp | 19q | HELD | |
| MCCORMICK & CO INC | MKC | $17.1M | 368,000 | -0.02pp | 5q | +9.9%+$1.5M | |
| VERIZON COMMUNICATIONS INC | VZ | $16.8M | 367,000 | +0.08pp | 32q | HELD | |
| AMERICAN FINANCIAL GROUP INC | AFG | $16.8M | 123,000 | +0.21pp | 7q | +21.8%+$3.0M | |
| AT&T INC | T | $16.6M | 681,000 | +0.24pp | 32q | +4.0%+$634.4K | |
| SHELL PLC | SHEL | $16.3M | 172,000 | +0.24pp | 3q | HELD | |
| EXXONMOBIL HOLDINGS CORP | XOM | $16.3M | 100,000 | +0.81pp | 2q | +100.0%+$8.1M | |
| BRITISH AMERN TOB PLC | BTI | $15.8M | 290,000 | +0.11pp | 25q | +26.1%+$3.3M | |
| PRUDENTIAL FINL INC | PRU | $15.3M | 135,000 | +0.04pp | 32q | HELD | |
| JPMORGAN CHASE & CO | JPM | $14.6M | 44,000 | -0.02pp | 32q | HELD | |
| MERCK & CO INC | MRK | $14.5M | 100,000 | +0.12pp | 32q | HELD | |
| CHENIERE ENERGY INC | LNG | $14.5M | 54,000 | +0.12pp | 32q | HELD | |
| BANK OF AMER CORP | BAC | $14.2M | 260,000 | -0.09pp | 32q | HELD | |
| ALTRIA GROUP INC | MO | $13.8M | 205,000 | -0.09pp | 32q | +1.5%+$202.0K | |
| FIFTH THIRD BANCORP | FITB | $13.7M | 270,000 | -0.17pp | 3q | HELD | |
| QUALCOMM INC | QCOM | $13.3M | 72,000 | -0.01pp | 32q | +1.6%+$202.4K | |
| TOTALENERGIES SE | TTE | $12.8M | 150,000 | +0.08pp | 3q | HELD | |
| ELI LILLY & CO | LLY | $12.7M | 11,000 | -0.07pp | 5q | HELD | |
| CITIGROUP INC | C | $12.7M | 98,000 | -0.12pp | 8q | HELD | |
| DEVON ENERGY CORP NEW | DVN | $12.2M | 265,000 | +0.51pp | 2q | +76.7%+$5.3M | |
| INTERNATIONAL BUSINESS MACHS | IBM | $12.1M | 55,000 | -0.20pp | 32q | +10.0%+$1.1M | |
| PROCTER & GAMBLE CO | PG | $11.6M | 80,000 | -0.03pp | 32q | HELD | |
| COCA COLA CO | KO | $11.6M | 135,000 | +0.03pp | 32q | HELD | |
| PHILIP MORRIS INTL INC | PM | $11.4M | 60,000 | +0.52pp | 32q | +100.0%+$5.7M | |
| NOVO-NORDISK A S | NVO | $10.2M | 270,000 | -0.26pp | 4q | HELD | |
| DELL TECHNOLOGIES INC | DELL | $10.2M | 19,000 | -0.61pp | 8q | -51.3%-$10.8M | |
| HUBBELL INC | HUBB | $10.0M | 22,000 | - | new | NEW | |
| TEXAS INSTRS INC | TXN | $9.8M | 35,000 | flat | 31q | +9.4%+$840.3K | |
| PFIZER INC | PFE | $9.6M | 338,000 | +0.11pp | 32q | HELD | |
| PERMIAN RESOURCES CORP | PR | $9.5M | 451,000 | +0.16pp | 16q | +9.7%+$844.8K | |
| BEST BUY INC | BBY | $9.4M | 106,000 | +0.10pp | 14q | HELD | |
| MCDONALDS CORP | MCD | $9.2M | 40,000 | +0.20pp | 32q | +60.0%+$3.5M | |
| LOCKHEED MARTIN CORP | LMT | $9.2M | 18,000 | +0.21pp | 32q | +38.5%+$2.5M | |
| TARGA RES CORP | TRGP | $8.6M | 32,000 | -0.01pp | 16q | HELD | |
| MICROCHIP TECHNOLOGY INC. | MCHP | $8.6M | 110,000 | - | new | NEW | |
| HOME DEPOT INC | HD | $8.5M | 30,000 | -0.14pp | 32q | +7.1%+$569.0K | |
| BLACKROCK INC | BLK | $8.5M | 8,000 | +0.31pp | 8q | +60.0%+$3.2M | |
| EASTMAN CHEM CO | EMN | $8.4M | 130,000 | -0.04pp | 2q | HELD | |
| ARCHROCK INC | AROC | $8.2M | 270,000 | +0.06pp | 7q | +50.0%+$2.7M | |
| EVERGY INC | EVRG | $7.8M | 100,000 | -0.09pp | 7q | HELD | |
| ALLSTATE CORP | ALL | $7.8M | 35,000 | -0.07pp | 6q | HELD | |
| BAKER HUGHES COMPANY | BKR | $7.5M | 137,000 | +0.01pp | 14q | +5.4%+$384.3K | |
| OLD REP INTL CORP | ORI | $7.5M | 200,000 | -0.08pp | 29q | HELD | |
| DIAMONDBACK ENERGY INC | FANG | $7.4M | 40,000 | -0.22pp | 32q | -27.3%-$2.8M | |
| ADVANCED MICRO DEVICES INC | AMD | $7.3M | 12,000 | -0.24pp | 32q | -29.4%-$3.1M | |
| NVIDIA CORPORATION | NVDA | $7.3M | 32,000 | +0.01pp | 32q | -8.6%-$685.1K | |
| CLOUDFLARE INC | NET | $7.3M | 21,000 | +0.18pp | 10q | HELD | |
| DIGITALOCEAN HLDGS INC | DOCN | $7.2M | 54,000 | -0.33pp | 7q | -20.6%-$1.9M | |
| APPLE INC | AAPL | $7.0M | 21,000 | +0.07pp | 32q | HELD | |
| ILLINOIS TOOL WKS INC | ITW | $6.9M | 27,000 | +0.20pp | 18q | +58.8%+$2.6M | |
| VALERO ENERGY CORP | VLO | $6.6M | 17,000 | -0.10pp | 32q | -41.4%-$4.7M | |
| ALPHABET INC | GOOGL | $6.2M | 18,000 | -0.03pp | 3q | HELD | |
| UNUM GROUP | UNM | $6.1M | 70,000 | -0.02pp | 8q | HELD | |
| PAYCHEX INC | PAYX | $5.9M | 60,000 | -0.01pp | 10q | HELD | |
| EXPAND ENERGY CORPORATION | EXE | $5.9M | 70,000 | -0.24pp | 6q | -24.7%-$1.9M | |
| UNITED PARCEL SVCS INC | UPS | $5.7M | 61,000 | -0.07pp | 14q | +3.4%+$186.9K | |
| VISTRA CORP | VST | $5.5M | 40,000 | -0.01pp | 9q | +14.3%+$691.8K | |
| VISA INC | V | $5.4M | 15,000 | +0.01pp | 32q | HELD | |
| PHILLIPS 66 | PSX | $5.4M | 21,000 | -0.82pp | 32q | -75.3%-$16.3M | |
| KODIAK GAS SVCS INC | KGS | $5.3M | 100,000 | -0.21pp | 9q | HELD | |
| LAM RESEARCH CORP | LRCX | $5.3M | 16,000 | -0.32pp | 8q | -20.0%-$1.3M | |
| PALO ALTO NETWORKS INC | PANW | $5.2M | 13,203 | +0.06pp | 3q | HELD | |
| TRANE TECHNOLOGIES PLC | TT | $5.0M | 11,000 | -0.05pp | 27q | HELD | |
| T MOBILE US INC | TMUS | $4.9M | 30,000 | - | new | NEW | |
| STARBUCKS CORP | SBUX | $4.9M | 52,000 | -0.05pp | 32q | HELD | |
| KLA CORP | KLAC | $4.9M | 25,000 | -0.38pp | 22q | -16.7%-$974.6K | |
| ANTERO RESOURCES CORP | AR | $4.7M | 140,000 | -0.03pp | 18q | HELD | |
| TEXAS PACIFIC LAND CORPORATI | TPL | $4.6M | 14,000 | +0.05pp | 12q | +55.6%+$1.6M | |
| LANDBRIDGE COMPANY LLC | LB | $4.5M | 56,000 | flat | 5q | HELD | |
| CATERPILLAR INC | CAT | $4.1M | 5,000 | -0.03pp | 32q | +25.0%+$810.8K | |
| Ovintiv Inc. | OVV | $4.0M | 69,000 | +0.02pp | 3q | HELD | |
| MASTERCARD INCORPORATED | MA | $3.9M | 7,000 | +0.02pp | 27q | HELD | |
| NRG ENERGY INC | NRG | $3.8M | 39,500 | -0.19pp | 9q | HELD | |
| VERTIV HOLDINGS CO | VRT | $3.4M | 14,000 | -0.12pp | 9q | HELD | |
| THERMO FISHER SCIENTIFIC INC | TMO | $3.4M | 5,000 | +0.07pp | 32q | HELD | |
| DEERE CO | DE | $3.4M | 5,000 | +0.01pp | 32q | HELD | |
| NEXTDECADE CORP | NEXT | $3.2M | 500,000 | -0.06pp | 3q | HELD | |
| MICROSOFT CORP | MSFT | $3.1M | 6,000 | +0.07pp | 23q | HELD | |
| AIR PRODUCTS AND CHEMICALS I | APD | $3.1M | 11,000 | -0.02pp | 32q | HELD | |
| Venture Global Inc | VG | $2.9M | 230,000 | +0.03pp | 5q | HELD | |
| TARGET CORP | TGT | $2.8M | 18,000 | +0.04pp | 32q | HELD | |
| S&P GLOBAL INC | SPGI | $2.8M | 7,000 | +0.06pp | 32q | +40.0%+$788.9K | |
| NEXTPOWER INC | NXT | $2.7M | 35,000 | +0.04pp | 10q | +84.2%+$1.2M | |
| TECHNIPFMC PLC | FTI | $2.7M | 40,000 | flat | 7q | HELD | |
| WASTE MGMT INC DEL | WM | $2.7M | 13,000 | -0.03pp | 32q | HELD | |
| FLEX LTD | FLEX | $2.5M | 23,000 | flat | 2q | +53.3%+$879.9K | |
| EQT Corp | EQT | $2.4M | 50,000 | -0.14pp | 9q | -33.3%-$1.2M | |
| EXELON CORP | EXC | $2.4M | 60,000 | -0.04pp | 32q | HELD | |
| LOWES COS INC | LOW | $2.4M | 13,000 | +0.01pp | 32q | +30.0%+$552.9K | |
| CONSTELLATION ENERGY CORP | CEG | $2.3M | 9,000 | +0.02pp | 2q | +12.5%+$254.0K | |
| KINDER MORGAN INC DEL | KMI | $2.3M | 75,000 | -0.02pp | 14q | HELD | |
| PNC FINL SVCS GROUP INC | PNC | $2.2M | 10,000 | -0.03pp | 32q | HELD | |
| UNITEDHEALTH GROUP INC | UNH | $2.2M | 6,000 | -0.03pp | 32q | HELD | |
| FIRST SOLAR INC | FSLR | $2.1M | 12,000 | -0.03pp | 11q | +20.0%+$350.3K | |
| FEDEX CORP | FDX | $2.0M | 7,000 | -0.02pp | 32q | HELD | |
| GE VERNOVA INC | GEV | $1.9M | 2,000 | -0.04pp | 7q | HELD | |
| CENOVUS ENERGY INC | CVE | $1.9M | 60,000 | +0.03pp | 3q | HELD | |
| EDWARDS LIFESCIENCES CORP | EW | $1.7M | 20,000 | -0.01pp | 32q | HELD | |
| CISCO SYS INC | CSCO | $1.6M | 15,000 | -0.02pp | 29q | HELD | |
| TESLA INC | TSLA | $1.6M | 4,500 | -0.03pp | 11q | HELD | |
| TENARIS S A | TS | $1.4M | 25,000 | flat | 16q | HELD | |
| INTUIT | INTU | $1.4M | 5,000 | flat | 29q | HELD | |
| SPACE EXPLORATION TECHN CORP | SPCX | $1.4M | 9,000 | - | new | NEW | |
| INTEGRITY DIV HARVEST ETF | DIVH | $1.2M | 52,000 | - | new | NEW | |
| DORIAN LPG LTD | LPG | $1.2M | 21,000 | +0.04pp | 8q | HELD | |
| GENERAC HLDGS INC | GNRC | $827.8K | 4,000 | -0.03pp | 21q | HELD | |
| FERVO ENERGY CO | FRVO | $815.4K | 60,000 | - | new | NEW | |
| SHOALS TECHNOLOGIES GROUP IN | SHLS | $810.0K | 100,000 | -0.02pp | 23q | HELD | |
| X-ENERGY INC | XE | $709.0K | 50,000 | -0.02pp | 2q | HELD | |
| CAMECO CORP | CCJ | $693.4K | 8,000 | -0.01pp | 6q | HELD | |
| Rio Tinto PLC | RIO | $659.2K | 7,000 | +0.03pp | 14q | +133.3%+$376.7K | |
| TRUIST FINL CORP | TFC | $648.2K | 14,000 | flat | 7q | +16.7%+$92.6K | |
| ENBRIDGE INC | ENB | $557.9K | 12,000 | +0.02pp | 32q | +100.0%+$278.9K | |
| SANFILIPPO JOHN B & SON INC | JBSS | $532.1K | 8,000 | - | new | NEW | |
| ETHAN ALLEN INTERIORS INC | ETD | $522.8K | 25,000 | - | new | NEW | |
| NOBLE CORP PLC | NE | $417.4K | 10,000 | flat | 6q | HELD | |
| South Bow Corp | SOBO | $397.6K | 12,000 | flat | 8q | HELD | |
| NATIONAL GRID PLC | NGG | $379.1K | 5,000 | flat | 3q | HELD | |
| REGIONS FINANCIAL CORP NEW | RF | $322.6K | 12,000 | flat | 14q | HELD | |
| GENTHERM INC | THRM | $266.4K | 8,000 | - | new | NEW | |
| EVERSOURCE ENERGY | ES | $256.6K | 4,000 | flat | 9q | HELD | |
| BHP BILLITON LIMITED | BHP | $254.5K | 3,000 | flat | 11q | HELD | |
| PORTLAND GEN ELEC CO | POR | $245.5K | 5,500 | flat | 9q | HELD | |
| Dominion Energy, Inc. | D | $211.8K | 3,500 | flat | 12q | HELD | |
| DIVERSIFIED ENERGY CO | DEC | $200.6K | 15,000 | flat | 4q | HELD | |
| LYONDELLBASELL INDUSTRIES NV | LYB | $172.4K | 3,000 | flat | 19q | HELD | |
| BUCKLE INC | BKE | $171.8K | 4,000 | flat | 3q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Energy | $261.0M | 22.8% |
| Semiconductors & Electronics | $112.0M | 9.8% |
| Biotech & Pharma | $99.2M | 8.7% |
| Utilities | $98.8M | 8.6% |
| Food, Drink & Tobacco | $93.1M | 8.1% |
| Banks & Lending | $58.2M | 5.1% |
| Computer Hardware | $56.6M | 5.0% |
| Insurance | $55.7M | 4.9% |
| Industrials | $48.7M | 4.3% |
| Telecom & Media | $38.3M | 3.4% |
| Retail & Consumer | $37.4M | 3.3% |
| Software & IT Services | $26.5M | 2.3% |
| Other sectors | $156.0M | 13.7% |
| Not classified | $1.2M | 0.1% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2026 | -1.5% | +2.1% | -3.7% | 100% |
| Q2 2026 | +10.0% | +14.8% | -4.9% | 100% |
| Q1 2026 | +9.2% | -4.6% | +13.8% | 100% |
| Q4 2025 | +1.9% | +2.4% | -0.5% | 100% |
| Q3 2025 | +7.9% | +7.8% | +0.1% | 100% |
| Q2 2025 | +3.8% | +10.5% | -6.6% | 100% |
| Q1 2025 | +1.2% | -4.6% | +5.7% | 100% |
| Q4 2024 | -0.7% | +2.1% | -2.9% | 100% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q3 2026 | $1.1B | 141 | 9 | 40 | 14 | 14 | 26.1% | 14 |
| Q2 2026 | $1.1B | 146 | 12 | 27 | 20 | 8 | 25.6% | 13 |
| Q1 2026 | $975.6M | 142 | 16 | 32 | 29 | 11 | 26.6% | 10 |
| Q4 2025 | $862.8M | 137 | 7 | 31 | 25 | 11 | 25.4% | 12 |
| Q3 2025 | $827.4M | 141 | 12 | 40 | 24 | 14 | 27.0% | 10 |
| Q2 2025 | $728.0M | 143 | 7 | 36 | 32 | 4 | 26.6% | 11 |
| Q1 2025 | $693.6M | 140 | 16 | 34 | 17 | 8 | 26.4% | 10 |
| Q4 2024 | $642.3M | 132 | 12 | 33 | 19 | 11 | 25.5% | 17 |
| Q3 2024 | $615.5M | 131 | 13 | 40 | 22 | 8 | 26.9% | 11 |
| Q2 2024 | $558.5M | 126 | 7 | 37 | 32 | 4 | 27.4% | 16 |
| Q1 2024 | $552.6M | 123 | 11 | 42 | 28 | 6 | 28.8% | 15 |
| Q4 2023 | $513.9M | 118 | 8 | 20 | 27 | 6 | 28.5% | 17 |
| Q3 2023 | $496.1M | 116 | 3 | 34 | 22 | 8 | 27.4% | 16 |
| Q2 2023 | $528.3M | 121 | 16 | 31 | 19 | 5 | 25.6% | 20 |
| Q1 2023 | $519.4M | 110 | 1 | 42 | 14 | 2 | 27.0% | 17 |
| Q4 2022 | $504.0M | 111 | 7 | 30 | 21 | 8 | 26.2% | 33 |
| Q3 2022 | $424.0M | 112 | 1 | 40 | 18 | 8 | 27.2% | 12 |
| Q2 2022 | $432.1M | 119 | 8 | 49 | 12 | 6 | 25.8% | 18 |
| Q1 2022 | $439.3M | 117 | 11 | 43 | 9 | 3 | 26.3% | 28 |
| Q4 2021 | $379.7M | 109 | 1 | 29 | 15 | 4 | 28.1% | 14 |
| Q3 2021 | $345.6M | 112 | 4 | 23 | 10 | 4 | 27.2% | 18 |
| Q2 2021 | $350.4M | 112 | 5 | 30 | 22 | 12 | 23.9% | 19 |
| Q1 2021 | $335.2M | 119 | 13 | 32 | 43 | 12 | 24.8% | 26 |
| Q4 2020 | $310.8M | 118 | 8 | 38 | 27 | 8 | 24.8% | 21 |
| Q3 2020 | $269.1M | 118 | 9 | 35 | 24 | 12 | 27.0% | 13 |
| Q2 2020 | $270.3M | 121 | 14 | 41 | 30 | 11 | 25.7% | 27 |
| Q1 2020 | $227.4M | 118 | 20 | 34 | 29 | 15 | 27.4% | 13 |
| Q4 2019 | $356.0M | 113 | 3 | 22 | 28 | 7 | 24.6% | 15 |
| Q3 2019 | $349.9M | 117 | 6 | 29 | 33 | 5 | 24.8% | 10 |
| Q2 2019 | $376.6M | 116 | 11 | 34 | 37 | 11 | 26.9% | 16 |
| Q1 2019 | $401.9M | 116 | 5 | 32 | 25 | 8 | 26.6% | 15 |
| Q4 2018 | $358.8M | 119 | 0 | 0 | 0 | 0 | 28.5% | 23 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.