TCI Fund Management Ltd
SuperinvestorTCI Fund Management
- SEC CIK
- 0001647251
- Manager
- Chris Hohn
- Style
- Activist, Quality
Q3 2025 vs. Q2 2025
Positions are compared by share count, long positions only.
All holdings in Q3 2025All holdings in Q2 2025
| Measure | Q2 2025 | Q3 2025 | Change |
|---|---|---|---|
| Positions | 10 | 9 | −1 |
| Total value | $50.71B | $52.7B | +$1.99B (+3.9%) |
New positions (0)
Held at the end of Q3 2025 but not at the end of Q2 2025.
| Security | Class | Shares, Q3 2025 | Value, Q3 2025 | % of portfolio, Q3 2025 |
|---|---|---|---|---|
| None. | ||||
Added (3)
More shares at the end of Q3 2025 than at the end of Q2 2025.
| Security | Class | Shares, Q2 2025 | Shares, Q3 2025 | Change in shares | Value, Q3 2025 | % of portfolio, Q3 2025 |
|---|---|---|---|---|---|---|
| VVISA INC COM CL A | Stock | 19,067,558 | 28,057,351 | +8,989,793+47.1% | $9.58B | 18.18% |
| MCOMOODYS CORP COM | Stock | 13,246,979 | 13,308,479 | +61,500+0.5% | $6.34B | 12.03% |
| SPGIS&P GLOBAL INC COM | Stock | 11,091,623 | 11,189,870 | +98,247+0.9% | $5.45B | 10.33% |
Reduced (4)
Fewer shares at the end of Q3 2025 than at the end of Q2 2025.
| Security | Class | Shares, Q2 2025 | Shares, Q3 2025 | Change in shares | Value, Q3 2025 | % of portfolio, Q3 2025 |
|---|---|---|---|---|---|---|
| MSFTMICROSOFT CORP COM | Stock | 17,565,231 | 16,592,204 | −973,027−5.5% | $8.59B | 16.31% |
| CPCANADIAN PACIFIC KANSAS CITY | COM | 52,826,885 | 49,865,735 | −2,961,150−5.6% | $3.71B | 7.05% |
| GOOGALPHABET INC CAP STK CL C | Stock | 12,966,235 | 7,596,819 | −5,369,416−41.4% | $1.85B | 3.51% |
| CNICANADIAN NATL RY CO COM | Stock | 22,989,066 | 18,767,774 | −4,221,292−18.4% | $1.77B | 3.36% |
Sold out (1)
Held at the end of Q2 2025, gone by the end of Q3 2025.
| Security | Class | Shares, Q2 2025 | Value, Q2 2025 | % of portfolio, Q2 2025 |
|---|---|---|---|---|
| GOOGLALPHABET INC CAP STK CL A | Stock | 3,155,110 | $556.03M | 1.10% |