Key points
- Viking Global reported 3,578,745 shares of Regal Rexnord (RRX), or 5.4%
- It held 2,101,759 shares on June 30
- The stock has fallen 37% since that date
- Filed passive, under Rule 13d-1(c)
Regal Rexnord (RRX) was one of 27 positions Viking Global Investors reduced in the second quarter, according to our Viking Global tracker. A new filing now reports a larger share count than Viking disclosed before that reduction.
The Schedule 13G filed Wednesday lists 3,578,745 shares of Regal Rexnord, representing 5.4% of the Milwaukee manufacturer of industrial motors, bearings and power transmission equipment. It identifies September 9 as the date that triggered the filing. The quarterly 13F and the new 13G use different ownership definitions, so the change stops short of establishing exactly how many shares Viking bought.
The firm, led by Andreas Halvorsen, reported 90 U.S. positions worth $35.08 billion in its latest quarterly filing. At $149.24 late Wednesday, the newly disclosed stake was worth about $534 million, by our arithmetic. Regal Rexnord's market value was about $9.9 billion.
September's reported stake exceeds the earlier quarterly holdings
Quarterly 13F reports put Viking's Regal Rexnord holding between 3.1 million and 3.2 million shares for three quarters running, then show a third of it gone.
| Reported as of | Shares | Value | Price per share |
|---|---|---|---|
| September 30, 2025 | 3,123,262 | $448.0M | $143.44 |
| December 31, 2025 | 3,223,940 | $452.4M | $140.32 |
| March 31, 2026 | 3,142,851 | $588.5M | $187.26 |
| June 30, 2026 | 2,101,759 | $500.6M | $238.19 |
| September 9, 2026 (13G) | 3,578,745 | 5.4% of the company | not disclosed |
Put the last two rows side by side and the pattern shows up. Viking's holding shrank by 1,041,092 shares over the second quarter, a cut of a third, and the quarter ended with Regal Rexnord at the highest price in the table. The September 13G reports 1,476,986 more shares than Viking's June 30 13F position, although the filings use different ownership definitions. On either count, the September figure is the largest Viking has disclosed in the stock over this period. The price column is just the reported value divided by the reported share count, which is what a 13F gives you.
There's a caution that goes with reading that table too confidently. A 13F is a photograph taken on the last day of a quarter, so it shows where the position stood, never when it moved or at what price. Viking could have sold in April or in June, and the paperwork stops at the quarter-end count either way. The two kinds of filing also count slightly different things: a 13F covers securities the firm manages with discretion, while a 13G counts what the whole group of Viking entities beneficially owns, which is why the 13G lists shared voting power across ten related entities and the 13F reports sole discretion.
What the stock did while this was happening
Regal Rexnord closed 2025 at about $140 and reached $238.19 on June 30th, using the price implied by Viking's own filing. On Wednesday it ended the session at $149.24. That's a decline of 37 percent from the June figure, which leaves the stock about 6 percent above where it started the year.
The turn came on August 5th, when the company reported its second-quarter results. Net sales were $1,558.4 million and adjusted earnings came to $2.99 a share, according to the release. Analysts had been looking for $2.58 a share on $1.58 billion of sales, MT Newswires reported, so the earnings beat came with sales below the estimate. Regal Rexnord also narrowed its full-year adjusted earnings guidance to a range of $10.35 to $10.85, which brackets the $10.64 analysts were carrying. The same release carries a comment from Aamir Paul, who it identifies as Regal Rexnord's sixth chief executive. Shares fell 7.7 percent before the market opened that day and they haven't recovered since.
The decline has continued this week, with nothing from the company to explain it. The stock ended lower on Monday, Tuesday and again Wednesday, down 8 percent across the three sessions. Monday and Tuesday each traded heavier than any session the week before. The company's most recent Form 8-K is the August 5 earnings filing.
What the filing doesn't tell you
Viking filed under Rule 13d-1(c), the passive route. That's a statement that the shares were acquired without an intent to influence or control the company, and it's the reason this arrived as a 13G instead of the 13D an investor files when they want something from management. We went through how those two forms differ in a separate piece.
So the document establishes one number on one day. It stops well short of what Viking paid, what the firm thinks the business is worth, and whether the buying continued past September 9th. Further disclosures depend on changes in the position. Material changes generally require a quarterly amendment, while certain ownership thresholds trigger faster reporting. What the record does now show is a large manager taking a position of this size in an industrial company whose shares have surrendered most of their rise since the end of 2025.
Whether that's worth acting on is a different question, and our piece on copying disclosures from well-known investors is worth a few minutes first. Regal Rexnord's filings land on our RRX page as they arrive.
Cover logos from Wikimedia Commons: the Viking Global Investors logo and the Regal Rexnord Corporation logo. Commons credits them to Viking Global Investors LP and to Regal Beloit Corporation. That second name is the one Regal Rexnord used until September 28, 2021. Both files are licensed CC BY-SA 4.0, as is this cover image.
