TCI Fund Management

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

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Chris Hohn's TCI Fund Management reported 10 stock positions worth $50.7 billion. Its top holding was General Electric (GE) at 24.1% of the portfolio, followed by Microsoft (MSFT, 17.2%) and Visa Class A (V, 13.4%). Compared with Q1 2025, it added to 5 and reduced 5. The biggest buy was Microsoft (MSFT, shares +2%) and the biggest sale Canadian Natl Railway (CNI, shares −15%).

Most Recent 13F: Q2 2026
Notable People: Chris Hohn
Location: LONDON, X0
CIK: 0001647251
Portfolio Value: $50.7B (Q2 2025)
SEC Filing: 0001647251-25-000009 ↗ filed Aug 14, 2025

Holdings Value

Holdings 10 stocks · $50.7B


GE General Electric filed as GE AEROSPACE	24.12%	47,510,431	$12.2B	Reduce -0.1%
MSFT Microsoft Corp.	17.23%	17,565,231	$8.7B	Add +1.5%
V Visa Inc. Class A	13.35%	19,067,558	$6.8B	Add +14.6%
MCO Moody's Corp.	13.10%	13,246,979	$6.6B	Add +0.6%
SPGI S&P Global Inc.	11.53%	11,091,623	$5.8B	Add +7.0%
CP Canadian Pacific Kansas City	8.26%	52,826,885	$4.2B	Reduce -3.8%
CNI Canadian Natl Railway Co.	4.72%	22,989,066	$2.4B	Reduce -14.5%
GOOG Alphabet Inc. Class C	4.54%	12,966,235	$2.3B	Reduce -6.4%
FER Ferrovial NV	2.05%	19,470,666	$1.0B	Add +0.7%
GOOGL Alphabet Inc. Class A	1.10%	3,155,110	$556.0M	Reduce -22.8%

Portfolio Sells Q1 2025 → Q2 2025


CNI Canadian Natl Railway Co.	Reduce -14.5%	4.72%	−1.32
CP Canadian Pacific Kansas City	Reduce -3.8%	8.26%	−0.63
GOOG Alphabet Inc. Class C	Reduce -6.4%	4.54%	−0.45
GOOGL Alphabet Inc. Class A	Reduce -22.8%	1.10%	−0.36
GE General Electric	Reduce -0.1%	24.12%	+2.16

Portfolio Buys Q1 2025 → Q2 2025


MSFT Microsoft Corp.	Add +1.5%	17.23%	+2.26
FER Ferrovial NV	Add +0.7%	2.05%	+0.06
V Visa Inc. Class A	Add +14.6%	13.35%	−0.09
SPGI S&P Global Inc.	Add +7.0%	11.53%	−0.60
MCO Moody's Corp.	Add +0.6%	13.10%	−1.03

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