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Hedge fund · Long-only 13F filer

TCI Fund Management

$52.8B+$7.6B vs prior 13FUS long stock positions · not assets under managementSEC EDGAR · 13F-HR · filed 14 August 2026

TCI Fund Management's latest 13F filing covers the quarter ended 30 June 2026 and was filed 14 August 2026 (45 days after quarter end): 11 disclosed US-listed positions — $52.8 billion in long stock. Two new buys and one exit against the prior quarter. Holdings are up to 45 days old by the time they clear EDGAR.

Portfolio · vs S&P 500TCI Fund ManagementS&P 500
Sept 2025TCI Fund Management +0% · S&P: +12%

The line rebuilds TCI Fund Management's disclosed 13F holdings at each filing and holds them to the next, tracked against the S&P 500 where daily price history overlaps. Long US equity only — an illustrative read, not an audited return.

S&P 500 overlay: Finazon · prior-day close, most closes dollar-rounded at the source

Portfolio · vs S&P 500TCI Fund ManagementS&P 500
Sept 2024TCI Fund Management +20% · S&P from Sept 2025: +12%

The line rebuilds TCI Fund Management's disclosed 13F holdings at each filing and holds them to the next, tracked against the S&P 500 where daily price history overlaps. Long US equity only — an illustrative read, not an audited return.

S&P 500 overlay: Finazon · prior-day close, most closes dollar-rounded at the source

Long stock value$52.8B
Positions11
Top holdingGE · 33.6%
Top sectorIndustrials 43%
New buys · Q2 20262
Exits · Q2 20261

Portfolio reconstructed from SEC EDGAR 13F filings · values as reported · as of Q2 2026

Top holdings — quarter ended 30 June 2026

Largest 11 of 11 positions
PositionValueWeightSharesLast quarter
GEGE AEROSPACE$17.7B33.6%47.4MHeld
VVISA INC$10.5B19.8%30.5MHeld
MCOMOODYS CORP$6.5B12.3%14.3MHeld
SPGIS&P GLOBAL INC$5.7B10.9%14.1MHeld
CPCANADIAN PACIFIC KANSAS CITY$3.9B7.4%45.3MHeld
GOOGALPHABET INC$3.5B6.7%9.9MHeld
FERFERROVIAL NV$1.4B2.7%20.9MHeld
CNICANADIAN NATL RY CO$1.1B2.1%9.4MHeld
GOOGLALPHABET INC$878.1M1.7%2.5MHeld
MLMMARTIN MARIETTA MATLS INC$758.4M1.4%1.3MNew buy
VMCVULCAN MATLS CO$721.9M1.4%2.4MNew buy

Rows sharing a company name are separate securities of the same issuer — different share classes or option positions, as filed.

Quarterly changes — quarter ended 30 June 2026

3 changes vs prior quarter
New buys2
Adds0
Trims0
Exits1

What changed against the previous quarter's filing: new positions first, then adds, trims and exits, each sorted by position size.

PositionChangeShares movedValue after
MLMMARTIN MARIETTA MATLS INCNew buy+1.3M$758.4M
VMCVULCAN MATLS CONew buy+2.4M$721.9M
MSFTMICROSOFT CORPSold out−2.7Mwas $1.0B

Sector allocation

Industrials43%
Financial Services43%
Technology8%
Basic Materials3%
Other / unclassified3%

Holdings by sector

Industrials carries the largest share of disclosed value, at 43%.

Industrials43%
CNI · CP · GE
Financial Services43%
MCO · SPGI · V
Technology8%
GOOG · GOOGL
Basic Materials3%
MLM · VMC
Other / unclassified3%
FER
What is TCI Fund Management's biggest holding?

As of the quarter ended 30 June 2026, the largest disclosed position was GE (GE AEROSPACE), about 33.6% of the disclosed US-listed portfolio by reported value.

What did Chris Hohn's TCI Fund Management buy in Q2 2026?

2 new positions were disclosed for the quarter ended 30 June 2026: MLM, VMC. Adds and trims are listed in the quarterly-changes table on this page.

How concentrated is the portfolio?

Very concentrated. The top five positions are 84% of disclosed value and the top ten are 99%.

When is TCI Fund Management's next 13F due?

13F filings for the quarter ended 30 September 2026 are due by 16 November 2026 — managers have 45 days after each calendar quarter ends. Whether TCI Fund Management files is up to the manager; we show whatever EDGAR receives.

Does this show the whole portfolio?

No. Form 13F covers US-listed long equity and some options only — no short bets, bonds, cash, private businesses, non-US holdings or timing inside the quarter. Amended filings replace originals; this page always shows the latest canonical version.

Read the form itself on SEC EDGAR or see our plain-words guide to 13F filings — TCI Fund Management may have already changed these positions since 30 June 2026.

TCI Fund Management 13F portfolio — holdings and quarterly moves · The Distributed