What if you had copied Viking Global?
Andreas Halvorsen
The verdict
Copying Viking Global's 13F filings from Feb 2020 would have turned $10,000 into $25,325, more than the S&P 500 did.
The S&P 500 turned the same $10,000 into $24,576 over the same days. The copy returned +14.8% a year against +14.3% for the S&P 500, 0.5 points a year ahead. Its worst fall was 38.1%, from Nov 5, 2021 to Jun 16, 2022. The S&P 500's worst fall over the test was 33.7%.
Copied Feb 14, 2020 to Nov 9, 2026 · SEC 13F filings and daily closes
What $10,000 became
- Copying Viking Global$25,325
- S&P 500$24,576
- Bought their first portfolio and never traded$18,263
If you had bought their first portfolio and never traded, you would have ended at $18,263, so following every move earned $7,062 more.
- $10,000 copied
- $25,325
- +153.3%, +14.8% a year
- In the S&P 500
- $24,576
- +145.8%, +14.3% a year
- No trading
- $18,263
- Bought their first portfolio and never traded
- Worst fall
- −38.1%
- Nov 5, 2021 to Jun 16, 2022
- Trades
- 717
- 383 buys, 334 sales over 27 filings; about 122% of the copy traded a year
The moves that made the most
- AMZNAmazon.com+$1,109
Held since Feb 2020, the stock up 184%
- METAMeta Platforms+$801
Held since Feb 2020, the stock up 244%
- MSFTMicrosoft+$778
Held since Feb 2020, the stock up 208%
Held since May 2020, the stock up 99%
- APGApi Group+$694
Held from Aug 2020 to Aug 2026, the stock up 356%
Held since Nov 2020, the stock up 131%
The moves that cost the most
- FIGS−$328
Held from Aug 2021 to May 2022, the stock down 75%
Held from Feb 2021 to Aug 2021, the stock down 64%
- DLTRDollar Tree−$221
Held from May 2024 to Nov 2024, the stock down 47%
Held since Feb 2026, the stock down 36%
- FTCHQFarfetch−$214
Held from Nov 2021 to May 2022, the stock down 82%
- TWLOTwilio−$209
Held from Feb 2022 to May 2022, the stock down 49%
Year by year
| Year | Copy | S&P 500 | Gap, pts |
|---|---|---|---|
| 2020from Feb 2020 | +39.2% | +12.8% | +26.4 |
| 2021 | +4.4% | +28.7% | −24.4 |
| 2022 | −21.2% | −18.2% | −3.0 |
| 2023 | +35.6% | +26.2% | +9.4 |
| 2024 | +15.1% | +24.9% | −9.7 |
| 2025 | +26.0% | +17.7% | +8.3 |
| 2026to Nov 2026 | +12.4% | +11.5% | +0.9 |
A historical test on paper, before costs and taxes. It trades at the close of the first trading day after each filing comes out, up to 45 days after the quarter, and skips delisted companies, which flatters it.