TCI Fund Management

Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Chris Hohn's TCI Fund Management reported 11 stock positions worth $52.8 billion. Its top holding was General Electric (GE) at 33.6% of the portfolio, followed by Visa Class A (V, 19.8%) and Moody's (MCO, 12.3%). Compared with Q1 2026, it opened 2 new positions, sold out of 1, added to 4 and reduced 3. The biggest buy was a new position in Martin Marietta Materials (MLM) and the biggest sale an exit from Microsoft (MSFT).

Most Recent 13F: Q2 2026
Notable People: Chris Hohn
Location: LONDON, X0
CIK: 0001647251
Portfolio Value: $52.8B (Q2 2026)
SEC Filing: 0001647251-26-000007 ↗ filed Aug 14, 2026

Holdings Value

Holdings 11 stocks · $52.8B


GE General Electric filed as GE AEROSPACE	33.59%	47,428,233	$17.7B	Reduce -0.2%
V Visa Inc. Class A	19.83%	30,494,133	$10.5B	Add +0.1%
MCO Moody's Corp.	12.30%	14,334,027	$6.5B	No change
SPGI S&P Global Inc.	10.87%	14,081,957	$5.7B	Add +0.3%
CP Canadian Pacific Kansas City	7.44%	45,325,726	$3.9B	Reduce -2.6%
GOOG Alphabet Inc. Class C	6.65%	9,938,819	$3.5B	Add +12.3%
FER Ferrovial NV	2.72%	20,940,441	$1.4B	Add +1.0%
CNI Canadian Natl Railway Co.	2.13%	9,433,422	$1.1B	Reduce -4.2%
GOOGL Alphabet Inc. Class A	1.66%	2,457,000	$878.1M	No change
MLM Martin Marietta Materials	1.44%	1,315,109	$758.4M	New
VMC Vulcan Materials Co.	1.37%	2,447,004	$721.9M	New

Portfolio Sells Q1 2026 → Q2 2026


MSFT Microsoft Corp.	Sold out	0.00%	−2.24
CP Canadian Pacific Kansas City	Reduce -2.6%	7.44%	−0.66
CNI Canadian Natl Railway Co.	Reduce -4.2%	2.13%	−0.11
GE General Electric	Reduce -0.2%	33.59%	+3.74

Portfolio Buys Q1 2026 → Q2 2026


MLM Martin Marietta Materials	New	1.44%	+1.44
VMC Vulcan Materials Co.	New	1.37%	+1.37
GOOG Alphabet Inc. Class C	Add +12.3%	6.65%	+1.03
FER Ferrovial NV	Add +1.0%	2.72%	−0.22
V Visa Inc. Class A	Add +0.1%	19.83%	−0.56
SPGI S&P Global Inc.	Add +0.3%	10.87%	−2.35

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	11	$52.8B	GE, V, MCO, SPGI, CP
Q1 2026	10	$45.2B	GE, V, MCO, SPGI, CP
Q4 2025	9	$53.6B	GE, V, MSFT, MCO, SPGI
Q3 2025	9	$52.7B	GE, V, MSFT, MCO, SPGI
Q2 2025	10	$50.7B	GE, MSFT, V, MCO, SPGI
Q1 2025	10	$43.4B	GE, MSFT, MCO, V, SPGI
Q4 2024	10	$42.4B	GE, MCO, MSFT, V, SPGI
Q3 2024	10	$44.0B	GE, MCO, SPGI, MSFT, CP
Q2 2024	10	$40.9B	GE, MCO, MSFT, CNI, SPGI
Q1 2024	10	$39.7B	GE, CNI, CP, MCO, V