Reported portfolio
Chris Hohn
TCI Fund Management Ltd
Last update 2026-08-14
- Reported portfolio value
- $52,769,884,000
- Current positions
- 11
- Top five concentration
- 84.0%
- Largest position
- 33.6%
- New positions
- 2
- Closed position
- 1
Reported holdings
12 positions
| Company | Portfolio | Recent activity | Shares | Reported price | Reported value | Updated / source |
|---|---|---|---|---|---|---|
GE GE AEROSPACE | 33.59% | Reduced 0.2% | 47,428,233−82,198 | $374 | $17,725,354,000+$4,243,319,000 | 13F2026-06-30 ↗ |
V VISA INC | 19.83% | Added 0.1% | 30,494,133+26,000 | $343 | $10,462,232,000+$1,253,544,000 | 13F2026-06-30 ↗ |
MCO MOODYS CORP | 12.30% | Unchanged | 14,334,027 | $453 | $6,492,168,000+$238,948,000 | 13F2026-06-30 ↗ |
SPGI S&P GLOBAL INC | 10.87% | Added 0.3% | 14,081,957+46,647 | $407 | $5,735,018,000−$234,761,000 | 13F2026-06-30 ↗ |
CP CANADIAN PACIFIC KANSAS CITY | 7.44% | Reduced 2.6% | 45,325,726−1,196,197 | $87 | $3,925,912,000+$266,274,000 | 13F2026-06-30 ↗ |
GOOG ALPHABET INC | 6.65% | Added 12.3% | 9,938,819+1,084,800 | $353 | $3,511,683,000+$971,819,000 | 13F2026-06-30 ↗ |
FER FERROVIAL NV | 2.72% | Added 1.0% | 20,940,441+200,227 | $69 | $1,434,612,000+$106,684,000 | 13F2026-06-30 ↗ |
CNI CANADIAN NATL RY CO | 2.13% | Reduced 4.2% | 9,433,422−416,512 | $119 | $1,124,535,000+$111,327,000 | 13F2026-06-30 ↗ |
GOOGL ALPHABET INC | 1.66% | Unchanged | 2,457,000 | $357 | $878,058,000+$171,523,000 | 13F2026-06-30 ↗ |
MLM MARTIN MARIETTA MATLS INC | 1.44% | New | 1,315,109+1,315,109 | $577 | $758,423,000+$758,423,000 | 13F2026-06-30 ↗ |
VMC VULCAN MATLS CO | 1.37% | New | 2,447,004+2,447,004 | $295 | $721,891,000+$721,891,000 | 13F2026-06-30 ↗ |
MSFT MICROSOFT CORP | 0.00% | Exited | 0−2,728,412 | $370 | $0−$1,009,976,000 | 13F2026-06-30 ↗ |
Reported price is calculated from the reported value and share count. It is not the investor's actual purchase price.
Filing history
Historical holdings
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GE AEROSPACE | 33.59% | 47,428,233 | $17,725,354,000 |
| V | VISA INC | 19.83% | 30,494,133 | $10,462,232,000 |
| MCO | MOODYS CORP | 12.30% | 14,334,027 | $6,492,168,000 |
| SPGI | S&P GLOBAL INC | 10.87% | 14,081,957 | $5,735,018,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 7.44% | 45,325,726 | $3,925,912,000 |
| GOOG | ALPHABET INC | 6.65% | 9,938,819 | $3,511,683,000 |
| FER | FERROVIAL NV | 2.72% | 20,940,441 | $1,434,612,000 |
| CNI | CANADIAN NATL RY CO | 2.13% | 9,433,422 | $1,124,535,000 |
| GOOGL | ALPHABET INC | 1.66% | 2,457,000 | $878,058,000 |
| MLM | MARTIN MARIETTA MATLS INC | 1.44% | 1,315,109 | $758,423,000 |
| VMC | VULCAN MATLS CO | 1.37% | 2,447,004 | $721,891,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GE AEROSPACE | 29.85% | 47,510,431 | $13,482,035,000 |
| V | VISA INC | 20.39% | 30,468,133 | $9,208,689,000 |
| MCO | MOODYS CORP | 13.84% | 14,334,027 | $6,253,219,000 |
| SPGI | S&P GLOBAL INC | 13.22% | 14,035,310 | $5,969,779,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 8.10% | 46,521,923 | $3,659,638,000 |
| GOOG | ALPHABET INC | 5.62% | 8,854,019 | $2,539,864,000 |
| FER | FERROVIAL SE | 2.94% | 20,740,214 | $1,327,928,000 |
| CNI | CANADIAN NATL RY CO | 2.24% | 9,849,934 | $1,013,208,000 |
| MSFT | MICROSOFT CORP | 2.24% | 2,728,412 | $1,009,976,000 |
| GOOGL | ALPHABET INC | 1.56% | 2,457,000 | $706,535,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GE AEROSPACE | 27.28% | 47,510,431 | $14,634,638,000 |
| V | VISA INC | 18.12% | 27,724,233 | $9,723,166,000 |
| MSFT | MICROSOFT CORP | 15.13% | 16,781,953 | $8,116,088,000 |
| MCO | MOODYS CORP | 12.67% | 13,308,479 | $6,798,636,000 |
| SPGI | S&P GLOBAL INC | 11.48% | 11,790,310 | $6,161,498,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 6.54% | 47,654,423 | $3,508,630,000 |
| GOOG | ALPHABET INC | 4.44% | 7,596,819 | $2,383,882,000 |
| FER | FERROVIAL SE | 2.51% | 20,740,214 | $1,348,163,000 |
| CNI | CANADIAN NATL RY CO | 1.82% | 9,849,934 | $974,115,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GE AEROSPACE | 27.12% | 47,510,431 | $14,292,088,000 |
| V | VISA INC | 18.18% | 28,057,351 | $9,578,218,000 |
| MSFT | MICROSOFT CORP | 16.31% | 16,592,204 | $8,593,932,000 |
| MCO | MOODYS CORP | 12.03% | 13,308,479 | $6,341,224,000 |
| SPGI | S&P GLOBAL INC | 10.33% | 11,189,870 | $5,446,222,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 7.05% | 49,865,735 | $3,713,515,000 |
| GOOG | ALPHABET INC | 3.51% | 7,596,819 | $1,850,205,000 |
| CNI | CANADIAN NATL RY CO | 3.36% | 18,767,774 | $1,769,673,000 |
| FER | FERROVIAL SE | 2.11% | 19,470,666 | $1,114,471,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GE AEROSPACE | 24.12% | 47,510,431 | $12,228,710,000 |
| MSFT | MICROSOFT CORP | 17.23% | 17,565,231 | $8,737,122,000 |
| V | VISA INC | 13.35% | 19,067,558 | $6,769,936,000 |
| MCO | MOODYS CORP | 13.10% | 13,246,979 | $6,644,552,000 |
| SPGI | S&P GLOBAL INC | 11.53% | 11,091,623 | $5,848,502,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 8.26% | 52,826,885 | $4,188,853,000 |
| CNI | CANADIAN NATL RY CO | 4.72% | 22,989,066 | $2,394,410,000 |
| GOOG | ALPHABET INC | 4.54% | 12,966,235 | $2,300,080,000 |
| FER | FERROVIAL SE | 2.05% | 19,470,666 | $1,038,720,000 |
| GOOGL | ALPHABET INC | 1.10% | 3,155,110 | $556,025,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GE AEROSPACE | 21.95% | 47,570,947 | $9,521,325,000 |
| MSFT | MICROSOFT CORP | 14.97% | 17,299,881 | $6,494,202,000 |
| MCO | MOODYS CORP | 14.13% | 13,163,107 | $6,129,927,000 |
| V | VISA INC | 13.44% | 16,637,562 | $5,830,800,000 |
| SPGI | S&P GLOBAL INC | 12.14% | 10,361,269 | $5,264,561,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 8.89% | 54,913,285 | $3,854,576,000 |
| CNI | CANADIAN NATL RY CO | 6.04% | 26,899,078 | $2,619,620,000 |
| GOOG | ALPHABET INC | 4.99% | 13,855,735 | $2,164,681,000 |
| FER | FERROVIAL SE | 1.99% | 19,333,428 | $861,116,000 |
| GOOGL | ALPHABET INC | 1.46% | 4,085,110 | $631,721,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GE AEROSPACE | 18.09% | 45,999,876 | $7,672,319,000 |
| MCO | MOODYS CORP | 14.78% | 13,246,769 | $6,270,623,000 |
| MSFT | MICROSOFT CORP | 13.91% | 13,993,637 | $5,898,318,000 |
| V | VISA INC | 12.52% | 16,797,187 | $5,308,583,000 |
| SPGI | S&P GLOBAL INC | 12.21% | 10,400,077 | $5,179,550,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 9.37% | 54,913,285 | $3,973,526,000 |
| GOOG | ALPHABET INC | 7.41% | 16,507,056 | $3,143,604,000 |
| CNI | CANADIAN NATL RY CO | 7.11% | 29,693,764 | $3,013,663,000 |
| GOOGL | ALPHABET INC | 2.69% | 6,027,410 | $1,140,989,000 |
| FER | FERROVIAL SE | 1.92% | 19,333,428 | $812,724,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GE AEROSPACE | 20.64% | 48,180,376 | $9,085,855,000 |
| MCO | MOODYS CORP | 14.28% | 13,246,769 | $6,286,784,000 |
| SPGI | S&P GLOBAL INC | 12.21% | 10,400,077 | $5,372,888,000 |
| MSFT | MICROSOFT CORP | 11.72% | 11,990,590 | $5,159,551,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 10.67% | 54,913,285 | $4,696,733,000 |
| V | VISA INC | 10.49% | 16,797,187 | $4,618,387,000 |
| CNI | CANADIAN NATL RY CO | 9.43% | 35,437,277 | $4,150,342,000 |
| GOOG | ALPHABET INC | 6.43% | 16,927,056 | $2,830,034,000 |
| GOOGL | ALPHABET INC | 2.27% | 6,027,410 | $999,646,000 |
| FER | FERROVIAL SE | 1.86% | 19,095,244 | $820,309,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GE AEROSPACE | 18.72% | 48,180,376 | $7,659,234,000 |
| MCO | MOODYS CORP | 13.63% | 13,246,769 | $5,575,962,000 |
| MSFT | MICROSOFT CORP | 11.50% | 10,531,890 | $4,707,228,000 |
| CNI | CANADIAN NATL RY CO | 11.40% | 39,488,385 | $4,665,902,000 |
| SPGI | S&P GLOBAL INC | 11.33% | 10,400,077 | $4,638,434,000 |
| V | VISA INC | 10.77% | 16,797,187 | $4,408,758,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 10.57% | 54,913,285 | $4,324,451,000 |
| GOOG | ALPHABET INC | 7.59% | 16,927,056 | $3,104,761,000 |
| GOOGL | ALPHABET INC | 2.68% | 6,027,410 | $1,097,893,000 |
| FER | FERROVIAL SE | 1.81% | 19,095,244 | $741,761,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GENERAL ELECTRIC CO | 20.72% | 46,809,215 | $8,216,422,000 |
| CNI | CANADIAN NATL RY CO | 13.12% | 39,488,385 | $5,201,441,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 12.21% | 54,913,285 | $4,842,877,000 |
| MCO | MOODYS CORP | 12.09% | 12,198,911 | $4,794,538,000 |
| V | VISA INC | 11.82% | 16,797,187 | $4,687,759,000 |
| MSFT | MICROSOFT CORP | 11.17% | 10,531,890 | $4,430,977,000 |
| SPGI | S&P GLOBAL INC | 9.69% | 9,032,611 | $3,842,924,000 |
| GOOG | ALPHABET INC | 6.50% | 16,927,056 | $2,577,314,000 |
| TMO | THERMO FISHER SCIENTIFIC INC | 2.22% | 1,517,639 | $882,067,000 |
| GOOGL | ALPHABET INC | 0.46% | 1,210,591 | $182,715,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GENERAL ELECTRIC CO | 14.78% | 41,650,076 | $5,315,799,000 |
| CNI | CANADIAN NATL RY CO | 14.01% | 40,072,313 | $5,037,819,000 |
| MCO | MOODYS CORP | 13.08% | 12,049,611 | $4,706,096,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 12.21% | 55,514,385 | $4,393,256,000 |
| V | VISA INC | 12.16% | 16,797,187 | $4,373,148,000 |
| MSFT | MICROSOFT CORP | 11.12% | 10,638,165 | $4,000,376,000 |
| SPGI | S&P GLOBAL INC | 11.06% | 9,032,611 | $3,979,046,000 |
| GOOG | ALPHABET INC | 6.63% | 16,927,056 | $2,385,530,000 |
| TMO | THERMO FISHER SCIENTIFIC INC | 4.64% | 3,146,382 | $1,670,068,000 |
| FERG | FERGUSON PLC NEW | 0.23% | 436,695 | $84,313,000 |
| GOOGL | ALPHABET INC | 0.06% | 157,400 | $21,987,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GE | GENERAL ELECTRIC CO | 16.70% | 41,650,076 | $4,604,416,000 |
| CNI | CANADIAN NATL RY CO | 16.06% | 40,888,953 | $4,427,183,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 15.06% | 55,860,385 | $4,151,920,000 |
| V | VISA INC | 14.02% | 16,797,187 | $3,863,521,000 |
| SPGI | S&P GLOBAL INC | 12.01% | 9,058,611 | $3,310,107,000 |
| MCO | MOODYS CORP | 11.90% | 10,371,017 | $3,279,004,000 |
| GOOG | ALPHABET INC | 8.10% | 16,927,056 | $2,231,832,000 |
| TMO | THERMO FISHER SCIENTIFIC INC | 5.86% | 3,193,182 | $1,616,293,000 |
| FERG | FERGUSON PLC NEW | 0.29% | 490,669 | $80,326,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| CNI | CANADIAN NATL RY CO | 14.71% | 40,888,953 | $4,952,547,000 |
| GE | GENERAL ELECTRIC CO | 13.59% | 41,650,076 | $4,575,261,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 13.41% | 55,860,385 | $4,513,334,000 |
| V | VISA INC | 12.55% | 17,786,169 | $4,223,859,000 |
| MSFT | MICROSOFT CORP | 11.98% | 11,845,241 | $4,033,778,000 |
| SPGI | S&P GLOBAL INC | 11.11% | 9,329,611 | $3,740,148,000 |
| MCO | MOODYS CORP | 10.87% | 10,520,317 | $3,658,125,000 |
| GOOG | ALPHABET INC | 6.65% | 18,502,456 | $2,238,242,000 |
| TMO | THERMO FISHER SCIENTIFIC INC | 4.92% | 3,173,182 | $1,655,608,000 |
| FERG | FERGUSON PLC NEW | 0.23% | 490,669 | $77,187,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP | 15.10% | 15,299,188 | $4,410,756,000 |
| V | VISA INC | 14.89% | 19,291,821 | $4,349,534,000 |
| CNI | CANADIAN NATL RY CO | 14.83% | 36,699,825 | $4,329,617,000 |
| — | CANADIAN PAC RY LTD | 14.72% | 55,860,385 | $4,299,987,000 |
| SPGI | S&P GLOBAL INC | 11.01% | 9,329,611 | $3,216,570,000 |
| MCO | MOODYS CORP | 10.87% | 10,369,479 | $3,173,268,000 |
| GE | GENERAL ELECTRIC CO | 8.55% | 26,112,747 | $2,496,379,000 |
| GOOG | ALPHABET INC | 8.38% | 23,528,462 | $2,446,960,000 |
| TMO | THERMO FISHER SCIENTIFIC INC | 1.65% | 834,150 | $480,779,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP | 17.84% | 22,268,951 | $5,340,540,000 |
| GOOG | ALPHABET INC | 16.17% | 54,540,690 | $4,839,395,000 |
| CNI | CANADIAN NATL RY CO | 14.56% | 36,699,825 | $4,357,887,000 |
| — | CANADIAN PAC RY LTD | 13.91% | 55,860,385 | $4,162,157,000 |
| V | VISA INC | 13.84% | 19,936,821 | $4,142,074,000 |
| SPGI | S&P GLOBAL INC | 10.28% | 9,184,573 | $3,076,281,000 |
| MCO | MOODYS CORP | 8.58% | 9,212,287 | $2,566,727,000 |
| GOOGL | ALPHABET INC | 4.71% | 15,961,420 | $1,408,276,000 |
| TMO | THERMO FISHER SCIENTIFIC INC | 0.12% | 63,770 | $35,118,000 |
| UNP | UNION PAC CORP | 0.00% | 5,191 | $1,075,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOG | ALPHABET INC | 17.64% | 52,430,790 | $5,041,220,000 |
| MSFT | MICROSOFT CORP | 16.20% | 19,877,677 | $4,629,511,000 |
| CNI | CANADIAN NATL RY CO | 13.86% | 36,699,825 | $3,960,442,000 |
| — | CANADIAN PAC RY LTD | 13.04% | 55,860,385 | $3,725,245,000 |
| V | VISA INC | 12.39% | 19,936,821 | $3,541,776,000 |
| SPGI | S&P GLOBAL INC | 9.37% | 8,768,321 | $2,677,407,000 |
| MCO | MOODYS CORP | 7.02% | 8,246,207 | $2,004,735,000 |
| GOOGL | ALPHABET INC | 5.34% | 15,961,420 | $1,526,710,000 |
| UNP | UNION PAC CORP | 3.77% | 5,534,098 | $1,078,153,000 |
| — | BOSTON PROPERTIES INC | 1.37% | 5,220,997 | $391,418,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOG | ALPHABET INC | 17.14% | 2,475,787 | $5,415,660,000 |
| MSFT | MICROSOFT CORP | 15.95% | 19,629,035 | $5,041,325,000 |
| CNI | CANADIAN NATL RY CO | 13.06% | 36,699,825 | $4,127,697,000 |
| V | VISA INC | 12.41% | 19,924,121 | $3,922,860,000 |
| — | CANADIAN PAC RY LTD | 12.35% | 55,860,385 | $3,901,375,000 |
| SPGI | S&P GLOBAL INC | 9.35% | 8,768,321 | $2,955,450,000 |
| MCO | MOODYS CORP | 7.10% | 8,246,207 | $2,242,721,000 |
| GOOGL | ALPHABET INC | 5.30% | 768,021 | $1,673,717,000 |
| UNP | UNION PAC CORP | 3.54% | 5,252,148 | $1,120,178,000 |
| — | BOSTON PROPERTIES INC | 2.97% | 10,564,496 | $940,029,000 |
| AMAT | APPLIED MATLS INC | 0.55% | 1,897,488 | $172,633,000 |
| KLAC | KLA CORP | 0.16% | 155,441 | $49,598,000 |
| — | LAM RESEARCH CORP | 0.12% | 89,545 | $38,160,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOG | ALPHABET INC | 17.97% | 2,370,340 | $6,620,336,000 |
| MSFT | MICROSOFT CORP | 14.45% | 17,264,766 | $5,322,900,000 |
| CNI | CANADIAN NATL RY CO | 13.36% | 36,699,825 | $4,921,414,000 |
| — | CANADIAN PAC RY LTD | 12.51% | 55,860,385 | $4,608,767,000 |
| V | VISA INC | 11.99% | 19,924,121 | $4,418,572,000 |
| SPGI | S&P GLOBAL INC | 7.60% | 6,823,072 | $2,798,688,000 |
| MCO | MOODYS CORP | 6.67% | 7,285,832 | $2,458,313,000 |
| GOOGL | ALPHABET INC | 4.33% | 573,021 | $1,593,772,000 |
| — | BOSTON PROPERTIES INC | 4.09% | 11,711,196 | $1,508,402,000 |
| UNP | UNION PAC CORP | 3.90% | 5,252,148 | $1,434,939,000 |
| CHTR | CHARTER COMMUNICATIONS INC N | 3.13% | 2,111,453 | $1,151,840,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOG | ALPHABET INC | 19.22% | 2,952,307 | $8,542,766,000 |
| CHTR | CHARTER COMMUNICATIONS INC N | 14.38% | 9,800,605 | $6,389,700,000 |
| MSFT | MICROSOFT CORP | 12.63% | 16,683,044 | $5,610,841,000 |
| V | VISA INC | 11.26% | 23,094,422 | $5,004,792,000 |
| CNI | CANADIAN NATL RY CO | 10.15% | 36,699,825 | $4,510,742,000 |
| — | CANADIAN PAC RY LTD | 9.05% | 55,860,385 | $4,020,373,000 |
| MCO | MOODYS CORP | 5.77% | 6,562,790 | $2,563,295,000 |
| GOOGL | ALPHABET INC | 4.03% | 618,021 | $1,790,432,000 |
| SPGI | S&P GLOBAL INC | 3.98% | 3,747,284 | $1,768,456,000 |
| UNP | UNION PAC CORP | 3.48% | 6,145,915 | $1,548,340,000 |
| — | BOSTON PROPERTIES INC | 3.23% | 12,458,851 | $1,435,010,000 |
| — | IHS MARKIT LTD | 2.29% | 7,660,706 | $1,018,261,000 |
| ARE | ALEXANDRIA REAL ESTATE EQ IN | 0.52% | 1,044,359 | $232,850,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| GOOG | ALPHABET INC | 18.90% | 2,952,307 | $7,868,813,000 |
| CHTR | CHARTER COMMUNICATIONS INC N | 18.10% | 10,359,092 | $7,536,861,000 |
| MSFT | MICROSOFT CORP | 11.29% | 16,683,044 | $4,703,284,000 |
| V | VISA INC | 10.67% | 19,939,311 | $4,441,482,000 |
| CNI | CANADIAN NATL RY CO | 10.20% | 36,699,825 | $4,246,357,000 |
| — | CANADIAN PAC RY LTD | 8.74% | 55,860,385 | $3,640,850,000 |
| MCO | MOODYS CORP | 5.60% | 6,562,790 | $2,330,512,000 |
| SPGI | S&P GLOBAL INC | 4.91% | 4,813,438 | $2,045,182,000 |
| GOOGL | ALPHABET INC | 3.97% | 618,021 | $1,652,292,000 |
| — | BOSTON PROPERTIES INC | 3.38% | 12,988,749 | $1,407,331,000 |
| UNP | UNION PAC CORP | 2.69% | 5,721,210 | $1,121,414,000 |
| — | IHS MARKIT LTD | 1.08% | 3,839,242 | $447,732,000 |
| ARE | ALEXANDRIA REAL ESTATE EQ IN | 0.48% | 1,044,359 | $199,546,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| CHTR | CHARTER COMMUNICATIONS INC N | 18.69% | 10,385,430 | $7,492,568,000 |
| GOOG | ALPHABET INC | 18.45% | 2,952,307 | $7,399,426,000 |
| MSFT | MICROSOFT CORP | 13.84% | 20,483,405 | $5,548,954,000 |
| — | CANADIAN PAC RY LTD | 10.71% | 55,860,385 | $4,295,203,000 |
| V | VISA INC | 8.20% | 14,057,890 | $3,287,016,000 |
| CNI | CANADIAN NATL RY CO | 7.92% | 30,107,803 | $3,176,525,000 |
| SPGI | S&P GLOBAL INC | 5.99% | 5,853,460 | $2,402,553,000 |
| MCO | MOODYS CORP | 5.93% | 6,562,790 | $2,378,158,000 |
| GOOGL | ALPHABET INC | 3.76% | 618,021 | $1,509,077,000 |
| — | BOSTON PROPERTIES INC | 3.27% | 11,432,392 | $1,310,038,000 |
| UNP | UNION PAC CORP | 3.14% | 5,721,210 | $1,258,266,000 |
| ARE | ALEXANDRIA REAL ESTATE EQ IN | 0.07% | 163,000 | $29,656,000 |
| KRC | KILROY RLTY CORP | 0.02% | 120,083 | $8,363,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| CHTR | CHARTER COMMUNICATIONS INC N | 18.37% | 10,252,881 | $6,326,233,000 |
| GOOG | ALPHABET INC | 17.73% | 2,952,307 | $6,107,231,000 |
| MSFT | MICROSOFT CORP | 14.02% | 20,483,405 | $4,829,372,000 |
| — | CANADIAN PAC RY LTD | 12.37% | 11,172,077 | $4,260,709,000 |
| V | VISA INC | 8.64% | 14,057,890 | $2,976,477,000 |
| CNI | CANADIAN NATL RY CO | 7.00% | 20,773,418 | $2,410,839,000 |
| SPGI | S&P GLOBAL INC | 6.00% | 5,853,460 | $2,065,510,000 |
| MCO | MOODYS CORP | 5.69% | 6,562,790 | $1,959,715,000 |
| UNP | UNION PAC CORP | 3.85% | 6,016,539 | $1,326,105,000 |
| GOOGL | ALPHABET INC | 3.70% | 618,021 | $1,274,681,000 |
| — | BOSTON PROPERTIES INC | 2.57% | 8,753,638 | $886,393,000 |
| — | LAM RESEARCH CORP | 0.03% | 17,300 | $10,298,000 |
| KLAC | KLA CORP | 0.03% | 30,600 | $10,110,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| CHTR | CHARTER COMMUNICATIONS INC N | 22.60% | 10,410,705 | $6,887,202,000 |
| GOOG | ALPHABET INC | 16.97% | 2,952,307 | $5,172,088,000 |
| — | CANADIAN PAC RY LTD | 12.71% | 11,172,077 | $3,873,604,000 |
| MSFT | MICROSOFT CORP | 10.45% | 14,314,499 | $3,183,831,000 |
| V | VISA INC | 10.09% | 14,057,890 | $3,074,882,000 |
| CNI | CANADIAN NATL RY CO | 7.49% | 20,773,418 | $2,282,520,000 |
| MCO | MOODYS CORP | 6.24% | 6,553,490 | $1,902,085,000 |
| UNP | UNION PAC CORP | 4.11% | 6,016,539 | $1,252,764,000 |
| GOOGL | ALPHABET INC | 3.55% | 618,021 | $1,083,168,000 |
| — | BOSTON PROPERTIES INC | 2.59% | 8,362,038 | $790,463,000 |
| SPGI | S&P GLOBAL INC | 2.55% | 2,362,294 | $776,557,000 |
| VNO | VORNADO RLTY TR | 0.60% | 4,904,776 | $183,144,000 |
| AMZN | AMAZON COM INC | 0.03% | 2,800 | $9,119,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| CHTR | CHARTER COMMUNICATIONS INC N | 23.32% | 10,410,705 | $6,499,820,000 |
| GOOG | ALPHABET INC | 15.57% | 2,953,720 | $4,340,787,000 |
| — | CANADIAN PAC RY LTD | 12.19% | 11,172,077 | $3,398,174,000 |
| MSFT | MICROSOFT CORP | 10.80% | 14,314,499 | $3,010,769,000 |
| V | VISA INC | 10.08% | 14,057,890 | $2,811,156,000 |
| CNI | CANADIAN NATL RY CO | 7.94% | 20,802,265 | $2,214,569,000 |
| MCO | MOODYS CORP | 6.81% | 6,553,490 | $1,899,529,000 |
| UNP | UNION PAC CORP | 4.25% | 6,016,539 | $1,184,476,000 |
| GOOGL | ALPHABET INC | 3.25% | 618,021 | $905,772,000 |
| SPGI | S&P GLOBAL INC | 3.06% | 2,362,294 | $851,843,000 |
| — | BOSTON PROPERTIES INC | 1.49% | 5,186,802 | $416,500,000 |
| VNO | VORNADO RLTY TR | 1.20% | 9,926,516 | $334,623,000 |
| AMZN | AMAZON COM INC | 0.03% | 2,800 | $8,816,000 |
Investor background
Christopher Hohn
“You are better off to find a great company which is well managed and well governed.”Christopher Hohn, Financial Times, 2026
Christopher Hohn is the founder and central investment decision-maker of TCI Fund Management, a London-based investment firm established in 2003. Before forming TCI, he worked in corporate finance at Coopers & Lybrand, private equity at Apax Partners and European event-driven investing at Perry Capital. His early career gave him an unusually broad foundation in valuation, corporate governance and complex transactions.
TCI first became prominent as an aggressive activist investor. Its campaigns involving Deutsche Börse, ABN Amro, CSX and J-Power demonstrated Hohn’s willingness to challenge boards, oppose acquisitions and demand changes in strategy or capital allocation. Over time, however, he concluded that investing in a well-managed exceptional business was generally more reliable than attempting to repair a poorly governed company.
Today, TCI runs a highly concentrated global portfolio of businesses with sustainable competitive advantages, pricing power, predictable cash generation and long reinvestment runways. Its research resembles private equity due diligence, but the firm retains the liquidity of public markets. Constructive engagement remains central, while activism is used selectively when governance or capital allocation threatens long-term value.
Hohn qualifies as a super investor because he combines deep fundamental research, concentration, corporate influence and a demonstrated ability to evolve.