Chris Hohn
Portfolio value$52.8B
Positions11
QuarterQ2 2026ended 2026-06-30
Filed08/142026
TCI Fund Management Ltd's Q2 2026 13F, filed Aug 14, 2026, reports 11 positions worth $52.8B. The ten largest are 98.6% of the book, led by GE Aerospace at 33.6%, Visa at 19.8% and Moody's at 12.3%. Against Q1 2026: 2 bought, 4 added to, 3 reduced, 1 sold; the largest moves were sold Microsoft and bought Martin Marietta Materials.
Where the money is
GEVMCOSPGICPGOOG
Holdings
| Ticker | Issuer | Weight | Value | Q-end → now | Price vs model | Change |
|---|---|---|---|---|---|---|
| GE | Ge Aerospace | 33.6% | $17.7B47.4M sh | 373.73 → −16% | 101% overvalued | reduced −0% |
| V | Visa INC | 19.8% | $10.5B30.5M sh | 343.09 → +17% | 40% overvalued | added +0% |
| MCO | Moodys Corp | 12.3% | $6.5B14.3M sh | 452.92 → +7% | 100% overvalued | held |
| SPGI | S&p Global INC | 10.9% | $5.7B14.1M sh | 407.26 → +5% | 39% overvalued | added +0% |
| CP | Canadian Pacific Kansas City | 7.4% | $3.9B45.3M sh | 86.62 | — | reduced −3% |
| GOOG | Alphabet INC | 6.7% | $3.5B9.9M sh | 353.33 → −5% | 49% overvalued | added +12% |
| FER | Ferrovial NV | 2.7% | $1.4B20.9M sh | 68.51 → −28% | no usable model value | added +1% |
| CNI | Canadian Natl Ry CO | 2.1% | $1.1B9.4M sh | 119.21 | — | reduced −4% |
| GOOGL | Alphabet INC | 1.7% | $878.1M2.5M sh | 357.37 → −5% | 51% overvalued | held |
| MLM | Martin Marietta Matls INC | 1.4% | $758.4M1.3M sh | 576.70 → −13% | 54% overvalued | bought |
| VMC | Vulcan Matls CO | 1.4% | $721.9M2.4M sh | 295.01 → −13% | 129% overvalued | bought |
Source: the manager's Form 13F-HR on SEC EDGAR, kept as immutable quarterly snapshots; changes compare two consecutive filings. A 13F is filed up to 45 days after quarter end and covers US-listed long positions only. Tickers come from a self-maintained CUSIP map; a position without one shows its CUSIP. Method notes in where the numbers come from.