Chris Hohn

TCI Fund Management Ltd

as of Dec 31, 2025 · filed Feb 17, 2026 · 48-day reporting lag · historical report

Source filings

13F-HR 0001647251-26-000002

QuarterCompare any two quarters

Portfolio value$53.6B 1.8% vs. previous quarter

Positions90 new · 0 sold

Top 584.7%largest GE at 27.3%

Largest moveCNIReduced · -1.5% weight shift

Concentration

How much of the portfolio the biggest positions add up to. Hover the curve, or focus it and use the arrow keys, to inspect each rank.

Longest held

One block per imported quarter, oldest at the left. A full row means held in all of them, not that the position began there.

49%held throughout

V26

MCO26

SPGI26

GOOG26

CNI26

Top 3 moves

CNI−1.5%

MSFT−1.2%

SPGI+1.2%

No new positions and no positions sold; the largest portfolio-weight shift was CNI losing 1.5% of portfolio weight.

Holdings

Reported price is value divided by shares, the manager’s quarter-end mark rather than a traded price.

Sorted by portfolio weight, high to low

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Reported holdings for Q4 2025

GEGE AerospaceIndustrials	27.3%+0.2%	Unchanged	47,510,431	$308.03	$14.6B
VVISA INC-CLASS A SHARESFinancials	18.1%-0.1%	Reduced1.2%	27,724,233	$350.71	$9.72B
MSFTMICROSOFT CORPInformation Technology	15.1%-1.2%	Increased1.1%	16,781,953	$483.62	$8.12B
MCOMOODY'S CORPConsumer Discretionary	12.7%+0.6%	Unchanged	13,308,479	$510.85	$6.80B
SPGIS&P GLOBAL INCConsumer Discretionary	11.5%+1.2%	Increased5.4%	11,790,310	$522.59	$6.16B
CPCANADIAN PACIFIC KANSAS CITYIndustrials	6.5%-0.5%	Reduced4.4%	47,654,423	$73.63	$3.51B
GOOGALPHABET INC-CL CCommunication Services	4.4%+0.9%	Unchanged	7,596,819	$313.80	$2.38B
Ticker unavailableFERROVIAL SEUnclassified	2.5%+0.4%	Increased6.5%	20,740,214	$65.00	$1.35B
CNICANADIAN NATL RAILWAY COIndustrials	1.8%-1.5%	Reduced47.5%	9,849,934	$98.90	$974.1M

Chris Hohn

TCI Fund Management Ltd

as of Dec 31, 2025 · filed Feb 17, 2026 · 48-day reporting lag · historical report

GEGE AerospaceIndustrials

27.3%+0.2%

Unchanged

47,510,431

$308.03

$14.6B

VVISA INC-CLASS A SHARESFinancials

18.1%-0.1%

Reduced1.2%

27,724,233

$350.71

$9.72B

MSFTMICROSOFT CORPInformation Technology

15.1%-1.2%

Increased1.1%

16,781,953

$483.62

$8.12B

MCOMOODY'S CORPConsumer Discretionary

12.7%+0.6%

Unchanged

13,308,479

$510.85

$6.80B

SPGIS&P GLOBAL INCConsumer Discretionary

11.5%+1.2%

Increased5.4%

11,790,310

$522.59

$6.16B

CPCANADIAN PACIFIC KANSAS CITYIndustrials

6.5%-0.5%

Reduced4.4%

47,654,423

$73.63

$3.51B

GOOGALPHABET INC-CL CCommunication Services

4.4%+0.9%

Unchanged

7,596,819

$313.80

$2.38B

Ticker unavailableFERROVIAL SEUnclassified

2.5%+0.4%

Increased6.5%

20,740,214

$65.00

$1.35B

CNICANADIAN NATL RAILWAY COIndustrials

1.8%-1.5%

Reduced47.5%

9,849,934

$98.90

$974.1M