# Chris Hohn — TCI Fund Management

Portfolio USD 52,769,886,000 · 11 positions · 2026 Q2 · history from 2015 Q4.
Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/tci

## Positions (2026 Q2)

| Ticker | Company | % of portfolio | Value | This quarter | Holders |
|---|---|---:|---:|---|---:|
| GE | GE Aerospace | 34% | USD 17,725,354,000 | -0.17% |  |
| V | Visa Inc. | 20% | USD 10,462,232,000 | +0.09% |  |
| MCO | Moody's Corp. | 12% | USD 6,492,168,000 | hold |  |
| SPGI | S&P Global Inc. | 11% | USD 5,735,018,000 | +0.33% |  |
| CP | Canadian Pacific Kansas City | 7.4% | USD 3,925,912,000 | -2.57% |  |
| GOOG | Alphabet Inc. CL C | 6.7% | USD 3,511,683,000 | +12.25% |  |
| FER | Ferrovial Se | 2.7% | USD 1,434,612,000 | +0.97% |  |
| CNI | Canadian Natl Railway Co. | 2.1% | USD 1,124,535,000 | -4.23% |  |
| GOOGL | Alphabet Inc. | 1.7% | USD 878,058,000 | hold |  |
| MLM | Martin Marietta | 1.4% | USD 758,423,000 | new |  |
| VMC | Vulcan Materials | 1.4% | USD 721,891,000 | new |  |

## Moves this quarter (10)

- GE GE Aerospace: -0.17% (USD 17,725,354,000)
- V Visa Inc.: +0.09% (USD 10,462,232,000)
- SPGI S&P Global Inc.: +0.33% (USD 5,735,018,000)
- CP Canadian Pacific Kansas City: -2.57% (USD 3,925,912,000)
- GOOG Alphabet Inc. CL C: +12.25% (USD 3,511,683,000)
- FER Ferrovial Se: +0.97% (USD 1,434,612,000)
- CNI Canadian Natl Railway Co.: -4.23% (USD 1,124,535,000)
- MSFT Microsoft Corp.: sold (USD 1,009,976,270)
- MLM Martin Marietta: new (USD 758,423,000)
- VMC Vulcan Materials: new (USD 721,891,000)

## Portfolio value by quarter

- 2015 Q4: USD 4,979,043,818 (7 positions)
- 2016 Q1: USD 5,399,204,305 (7 positions)
- 2016 Q2: USD 7,345,764,144 (6 positions)
- 2016 Q3: USD 8,961,221,574 (6 positions)
- 2016 Q4: USD 9,501,800,391 (5 positions)
- 2017 Q1: USD 11,707,951,814 (7 positions)
- 2017 Q2: USD 13,277,834,480 (9 positions)
- 2017 Q3: USD 14,455,203,907 (11 positions)
- 2017 Q4: USD 16,125,554,853 (15 positions)
- 2018 Q1: USD 17,982,722,619 (15 positions)
- 2018 Q2: USD 21,268,765,683 (12 positions)
- 2018 Q3: USD 19,098,115,666 (14 positions)
- 2018 Q4: USD 19,987,113,482 (12 positions)
- 2019 Q1: USD 15,300,322,304 (13 positions)
- 2019 Q2: USD 18,538,521,390 (13 positions)
- 2019 Q3: USD 19,271,733,816 (15 positions)
- 2019 Q4: USD 22,604,486,457 (17 positions)
- 2020 Q1: USD 21,063,099,615 (18 positions)
- 2020 Q2: USD 25,206,134,121 (18 positions)
- 2020 Q3: USD 27,879,474,648 (13 positions)
- 2020 Q4: USD 30,477,080,155 (13 positions)
- 2021 Q1: USD 34,443,314,007 (13 positions)
- 2021 Q2: USD 40,100,107,164 (13 positions)
- 2021 Q3: USD 41,638,116,553 (13 positions)
- 2021 Q4: USD 44,440,240,192 (13 positions)
- 2022 Q1: USD 36,838,300,936 (11 positions)
- 2022 Q2: USD 31,601,088,629 (13 positions)
- 2022 Q3: USD 28,576,538,016 (10 positions)
- 2022 Q4: USD 29,926,388,567 (10 positions)
- 2023 Q1: USD 29,203,856,300 (9 positions)
- 2023 Q2: USD 33,661,464,767 (10 positions)
- 2023 Q3: USD 27,564,650,422 (9 positions)
- 2023 Q4: USD 35,974,856,876 (11 positions)
- 2024 Q1: USD 39,658,927,244 (10 positions)
- 2024 Q2: USD 40,924,489,437 (10 positions)
- 2024 Q3: USD 44,020,623,901 (10 positions)
- 2024 Q4: USD 42,409,667,898 (10 positions)
- 2025 Q1: USD 43,372,393,880 (10 positions)
- 2025 Q2: USD 50,706,642,373 (10 positions)
- 2025 Q3: USD 52,699,504,985 (9 positions)
- 2025 Q4: USD 53,654,341,310 (9 positions)
- 2026 Q1: USD 45,170,671,213 (10 positions)
- 2026 Q2: USD 52,769,886,000 (11 positions)