Chris Hohn - TCI Fund Management
TCI Fund Management
Latest 13F filing
Q4 2025
filed Feb 17, 2026
Portfolio value
$53.65B
Positions
9
Top 10 concentration
100.0%
QoQ change
+1.8%
+$949.27M
Activity vs. Q3 2025
0
New positions
3
Added to
3
Unchanged
3
Reduced
3
Exited
Portfolio composition — Q4 2025
- GEGE AEROSPACE27.3%
- VVISA INC18.1%
- MSFTMICROSOFT CORP15.1%
- MCOMOODYS CORP12.7%
- SPGIS&P GLOBAL INC11.5%
- CPCANADIAN PACIFIC KANSAS CITY6.5%
- GOOGALPHABET INC4.4%
- ?FERROVIAL SE2.5%
- CNICANADIAN NATL RY CO1.8%
Top buys
New & added positions, by size
Holdings as of Q4 2025
| # | Ticker | Issuer | Shares | Value | % Portfolio | Reported price | Action | Δ Shares |
|---|---|---|---|---|---|---|---|---|
| 1 | GE | GE AEROSPACE | 47,510,431 | $14.63B | 27.28% | $308.03 | — | 0% |
| 2 | V | VISA INC | 27,724,233 | $9.72B | 18.12% | $350.71 | REDUCE | -1.2% |
| 3 | MSFT | MICROSOFT CORP | 16,781,953 | $8.12B | 15.13% | $483.62 | ADD | +1.1% |
| 4 | MCO | MOODYS CORP | 13,308,479 | $6.80B | 12.67% | $510.85 | — | 0% |
| 5 | SPGI | S&P GLOBAL INC | 11,790,310 | $6.16B | 11.48% | $522.59 | ADD | +5.4% |
| 6 | CP | CANADIAN PACIFIC KANSAS CITY | 47,654,423 | $3.51B | 6.54% | $73.63 | REDUCE | -4.4% |
| 7 | GOOG | ALPHABET INC | 7,596,819 | $2.38B | 4.44% | $313.80 | — | 0% |
| 8 | — | FERROVIAL SE | 20,740,214 | $1.35B | 2.51% | $65.00 | ADD | +6.5% |
| 9 | CNI | CANADIAN NATL RY CO | 9,849,934 | $974.11M | 1.82% | $98.90 | REDUCE | -47.5% |
Positions exited in Q4 2025
Source: SEC EDGAR 13F-HR filing Feb 17, 2026. Reported prices are derived from the filing's value-to-shares ratio (effectively the quarter-end mark). Filings are published with a 45-day delay. CIK 0001647251.