TCI Fund Management
Chris Hohn (Founder) · London, X0 · CIK 1647251 · EDGAR filings ↗
Very concentrated, long-duration positions.
Reported 13F portfolio value covers U.S. reportable long positions only, not cash, bonds, shorts or non-U.S. holdings. It is not assets under management.
Share of reported common-equity value; (±pp) vs prior quarter.
| # | Security | Weight | Value | Shares | Δ shares | Held | |
|---|---|---|---|---|---|---|---|
| 1 | GE GE Aerospace | 27.1% | $14.29B | 47.51M | 0.0% | Held | 6 |
| 2 | V Visa Inc. | 18.2% | $9.58B | 28.06M | +47.1% | ▲ Add | 6 |
| 3 | MSFT Microsoft Corporation | 16.3% | $8.59B | 16.59M | -5.5% | ▼ Trim | 6 |
| 4 | MCO Moody's Corporation | 12.0% | $6.34B | 13.31M | +0.5% | ▲ Add | 6 |
| 5 | SPGI S&P Global Inc. | 10.3% | $5.45B | 11.19M | +0.9% | ▲ Add | 6 |
| 6 | CP Canadian Pacific Kansas… | 7.0% | $3.71B | 49.87M | -5.6% | ▼ Trim | 6 |
| 7 | GOOG Alphabet Inc. | 3.5% | $1.85B | 7.60M | -41.4% | ▼ Trim | 6 |
| 8 | CNI Canadian National Railway… | 3.4% | $1.77B | 18.77M | -18.4% | ▼ Trim | 6 |
| 9 | FER.MC Ferrovial SE | 2.1% | $1.11B | 19.47M | 0.0% | Held | 6 |
Common-stock (SH) positions only; option lines are in the Options tab and are never netted. ✂ = change computed against split-adjusted prior shares. “Held N+” = held every quarter in our window, possibly longer.
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| None this quarter. | ||||||
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| V Visa Inc. | 28.06M | 19.07M | +47.1% | $9.58B | 18.2% | ●●○○○○ |
| MCO Moody's Corporation | 13.31M | 13.25M | +0.5% | $6.34B | 12.0% | ●●○○○○ |
| SPGI S&P Global Inc. | 11.19M | 11.09M | +0.9% | $5.45B | 10.3% | ●●○○○○ |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| MSFT Microsoft Corporation | 16.59M | 17.57M | -5.5% | $8.59B | 16.3% | |
| CP Canadian Pacific Kansas… | 49.87M | 52.83M | -5.6% | $3.71B | 7.0% | ●●○○○○ |
| CNI Canadian National… | 18.77M | 22.99M | -18.4% | $1.77B | 3.4% | ●●●●●○ |
| GOOG Alphabet Inc. | 7.60M | 12.97M | -41.4% | $1.85B | 3.5% | ●●●●○○ |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| GOOGL Alphabet Inc. | n/a | 3.16M | Exit | $556.03M | 1.1% |
Consecutive quarters each current position has been reported, within our data window.
| Manager | Common positions | Name overlap | Weighted similarity | |
|---|---|---|---|---|
| Brown Advisory Inc | 10 | 0.7% | 0.2887 | Compare ⇄ |
| Newport Trust Company, LLC | 3 | 4.2% | 0.255 | Compare ⇄ |
| Soroban Capital Partners LP | 4 | 13.3% | 0.2209 | Compare ⇄ |
| Baird Financial Group, Inc. | 11 | 0.6% | 0.2107 | Compare ⇄ |
| Ninety One UK Ltd | 6 | 2.2% | 0.195 | Compare ⇄ |
| Capital International Investors | 6 | 1.4% | 0.1949 | Compare ⇄ |
| Jennison Associates Llc | 7 | 1.2% | 0.1924 | Compare ⇄ |
| Holocene Advisors, LP | 5 | 0.6% | 0.179 | Compare ⇄ |
Similarity of reported longs only; hedges and non-13F assets are invisible. Methodology
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