Viking Holdings: CPPIB reports 25,144,744 shares (8.0%) on 13G/A

Rhea-AI Filing Summary

Viking Holdings (VIK): Schedule 13G/A (Amendment No. 3) discloses that Canada Pension Plan Investment Board beneficially owns 25,144,744 ordinary shares, or 8.0% of the class. The filer reports sole voting power and sole dispositive power over the same 25,144,744 shares.

The percentage is calculated using 315,646,491 ordinary shares outstanding as of June 30, 2025, as disclosed by the issuer. The date of event triggering this filing is September 30, 2025.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Viking Holdings Ltd

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

G93A5A101

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G93A5A101

1

Names of Reporting Persons

Canada Pension Plan Investment Board

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 25,144,744.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 25,144,744.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,144,744.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Item 11 is calculated based on a total of 315,646,491 ordinary shares of the issuer outstanding as of May June 30, 2025, as disclosed in the issuer's Form 6-K filed with the Securities and Exchange Commission on August 19, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Viking Holdings Ltd
(b)	Address of issuer's principal executive offices: 94 Pitts Bay Road Pembroke , D0, HM 08
Item 2.
(a)	Name of person filing: Canada Pension Plan Investment Board
(b)	Address or principal business office or, if none, residence: One Queen Street East, Suite 2500, Toronto, Ontario M5C 2W5 Canada
(c)	Citizenship: Canada
(d)	Title of class of securities: Ordinary Shares
(e)	CUSIP No.: G93A5A101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 on page 2.
(b)	Percent of class: See Item 11 on page 2.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on page 2.
	(ii) Shared power to vote or to direct the vote: See Item 6 on page 2.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on page 2.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on page 2.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Canada Pension Plan Investment Board

Signature:	/s/ Pierre Abinakle
Name/Title:	Pierre Abinakle, Managing Director, Head of Compliance
Date:	11/13/2025

Comments accompanying signature: 99.1 Power of Attorney (incorporated by reference to Exhibit 99.1 of the Schedule 13G/A filed by the reporting person in respect of the issuer on February 13, 2025)

Exhibit Information

99.1 Power of Attorney (incorporated by reference to Exhibit 99.1 of the Schedule 13G/A filed by the reporting person in respect of the issuer on February 13, 2025)

FAQ

What stake in VIK does Canada Pension Plan Investment Board report?

The filer reports beneficial ownership of 25,144,744 ordinary shares, representing 8.0% of Viking Holdings’ class.

Does the filer have voting and dispositive power over the VIK shares?

Yes. The filer reports sole voting power and sole dispositive power over 25,144,744 shares.

What share count was used to calculate the ownership percentage for VIK?

The calculation is based on 315,646,491 ordinary shares outstanding as of June 30, 2025, as disclosed by the issuer.

What is the date of the event requiring this Schedule 13G/A?

The event date is September 30, 2025.

Who is the reporting person in this Schedule 13G/A for VIK?

The reporting person is Canada Pension Plan Investment Board (Type: FI, Canada).

What class of securities is covered in this filing for VIK?

The filing covers Ordinary Shares of Viking Holdings Ltd (CUSIP G93A5A101).