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Chris Hohn

TCI Fund Management · 12 closed periods in the current 3-year detail window (latest closed period: Q4 2025 → next disclosure, 9 priced positions, -1.83% return). Every disclosed long-equity position appears in the table for its period; the Valid column shows 1 (counted in the math) or 0 (excluded — hover the row for the reason). See the methodology for the exact math.

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2026-02-172026-05-15

9 of 9 priced100.00% coverage
-1.83%
Holdings from Q4 2025 disclosure · accession 0001647251-26-000002 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE47,510,431$327.08$281.53$15.54B$13.38B-13.93%27.28%-3.8 bps1
V27,724,233$319.50$325.75$8.86B$9.03B+1.96%18.12%+0.4 bps1
MSFT16,781,953$396.86$421.92$6.66B$7.08B+6.31%15.13%+1.0 bps1
MCO13,308,479$423.22$428.90$5.63B$5.71B+1.34%12.67%+0.2 bps1
SPGI11,790,310$410.45$403.15$4.84B$4.75B-1.78%11.48%-0.2 bps1
CP47,654,423$83.88$85.07$4B$4.05B+1.42%6.54%+0.1 bps1
GOOG7,596,819$302.82$393.32$2.3B$2.99B+29.89%4.44%+1.3 bps1
FER20,740,214$72.71$66.89$1.51B$1.39B-8.00%2.51%-0.2 bps1
CNI9,849,934$108.47$111.79$1.07B$1.1B+3.06%1.82%+0.1 bps1
Top 5 (by entry value)(5)$41.53B$39.95B-3.81%
Total(9)$50.4B$49.48B-1.83%

2025-11-142026-02-17

9 of 9 priced100.00% coverage
-2.92%
Holdings from Q3 2025 disclosure · accession 0001647251-25-000014 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE47,510,431$304.82$327.08$14.48B$15.54B+7.30%27.12%+2.0 bps1
V28,057,351$330.02$319.50$9.26B$8.96B-3.19%18.18%-0.6 bps1
MSFT16,592,204$510.18$396.86$8.47B$6.58B-22.21%16.31%-3.6 bps1
MCO13,308,479$479.48$423.22$6.38B$5.63B-11.73%12.03%-1.4 bps1
SPGI11,189,870$493.90$410.45$5.53B$4.59B-16.90%10.33%-1.7 bps1
CP49,865,735$70.70$83.88$3.53B$4.18B+18.64%7.05%+1.3 bps1
GOOG7,596,819$276.98$302.82$2.1B$2.3B+9.33%3.51%+0.3 bps1
CNI18,767,774$96.15$108.47$1.8B$2.04B+12.81%3.36%+0.4 bps1
FER19,470,666$63.69$72.71$1.24B$1.42B+14.16%2.11%+0.3 bps1
Top 5 (by entry value)(5)$44.11B$41.31B-6.35%
Total(9)$52.79B$51.25B-2.92%

2025-08-142025-11-14

10 of 10 priced100.00% coverage
+2.09%
Holdings from Q2 2025 disclosure · accession 0001647251-25-000009 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE47,510,431$269.70$304.82$12.81B$14.48B+13.02%24.12%+3.1 bps1
MSFT17,565,231$522.48$510.18$9.18B$8.96B-2.35%17.23%-0.4 bps1
V19,067,558$345.49$330.02$6.59B$6.29B-4.48%13.35%-0.6 bps1
MCO13,246,979$521.32$479.48$6.91B$6.35B-8.03%13.10%-1.1 bps1
SPGI11,091,623$564.15$493.90$6.26B$5.48B-12.45%11.53%-1.4 bps1
CP52,826,885$73.88$70.70$3.9B$3.73B-4.30%8.26%-0.4 bps1
CNI22,989,066$92.76$96.15$2.13B$2.21B+3.65%4.72%+0.2 bps1
GOOG12,966,235$203.82$276.98$2.64B$3.59B+35.89%4.54%+1.6 bps1
FER19,470,666$54.65$63.69$1.06B$1.24B+16.54%2.05%+0.3 bps1
GOOGL3,155,110$202.94$276.41$640.3M$872.1M+36.20%1.10%+0.4 bps1
Top 5 (by entry value)(5)$41.74B$41.57B-0.42%
Total(10)$52.12B$53.21B+2.09%

2025-05-152025-08-14

10 of 10 priced100.00% coverage
+7.73%
Holdings from Q1 2025 disclosure · accession 0001647251-25-000005 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE47,570,947$229.38$269.70$10.91B$12.83B+17.58%21.95%+3.9 bps1
MSFT17,299,881$453.13$522.48$7.84B$9.04B+15.30%14.97%+2.3 bps1
MCO13,163,107$487.33$521.32$6.41B$6.86B+6.97%14.13%+1.0 bps1
V16,637,562$362.30$345.49$6.03B$5.75B-4.64%13.44%-0.6 bps1
SPGI10,361,269$519.28$564.15$5.38B$5.85B+8.64%12.14%+1.0 bps1
CP54,913,285$81.49$73.88$4.47B$4.06B-9.34%8.89%-0.8 bps1
CNI26,899,078$108.13$92.76$2.91B$2.5B-14.21%6.04%-0.9 bps1
GOOG13,855,735$165.40$203.82$2.29B$2.82B+23.23%4.99%+1.2 bps1
FER19,333,428$50.03$54.65$967.25M$1.06B+9.23%1.99%+0.2 bps1
GOOGL4,085,110$163.96$202.94$669.79M$829.03M+23.77%1.46%+0.3 bps1
Top 5 (by entry value)(5)$36.57B$40.32B+10.25%
Total(10)$47.89B$51.59B+7.73%

2025-02-142025-05-15

10 of 10 priced100.00% coverage
+2.35%
Holdings from Q4 2024 disclosure · accession 0001647251-25-000003 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE45,999,876$208.27$229.38$9.58B$10.55B+10.14%18.09%+1.8 bps1
MCO13,246,769$522.84$487.33$6.93B$6.46B-6.79%14.78%-1.0 bps1
MSFT13,993,637$408.43$453.13$5.72B$6.34B+10.94%13.91%+1.5 bps1
V16,797,187$353.81$362.30$5.94B$6.09B+2.40%12.52%+0.3 bps1
SPGI10,400,077$539.69$519.28$5.61B$5.4B-3.78%12.21%-0.5 bps1
CP54,913,285$77.52$81.49$4.26B$4.47B+5.12%9.37%+0.5 bps1
GOOG16,507,056$186.87$165.40$3.08B$2.73B-11.49%7.41%-0.9 bps1
CNI29,693,764$101.59$108.13$3.02B$3.21B+6.44%7.11%+0.5 bps1
GOOGL6,027,410$185.23$163.96$1.12B$988.25M-11.48%2.69%-0.3 bps1
FER19,333,428$45.09$50.03$871.74M$967.25M+10.96%1.92%+0.2 bps1
Top 5 (by entry value)(5)$33.78B$34.83B+3.13%
Total(10)$46.12B$47.21B+2.35%

2024-11-142025-02-14

10 of 10 priced100.00% coverage
+6.81%
Holdings from Q3 2024 disclosure · accession 0001647251-24-000011 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE48,180,376$178.40$208.27$8.6B$10.03B+16.74%20.64%+3.5 bps1
MCO13,246,769$482.09$522.84$6.39B$6.93B+8.45%14.28%+1.2 bps1
SPGI10,400,077$510.64$539.69$5.31B$5.61B+5.69%12.21%+0.7 bps1
MSFT11,990,590$426.89$408.43$5.12B$4.9B-4.32%11.72%-0.5 bps1
CP54,913,285$75.87$77.52$4.17B$4.26B+2.17%10.67%+0.2 bps1
V16,797,187$308.25$353.81$5.18B$5.94B+14.78%10.49%+1.6 bps1
CNI35,437,277$110.05$101.59$3.9B$3.6B-7.69%9.43%-0.7 bps1
GOOG16,927,056$177.35$186.87$3B$3.16B+5.37%6.43%+0.3 bps1
GOOGL6,027,410$175.58$185.23$1.06B$1.12B+5.50%2.27%+0.1 bps1
FER19,095,244$38.58$45.09$736.69M$861M+16.87%1.86%+0.3 bps1
Top 5 (by entry value)(5)$30.59B$33.41B+9.24%
Total(10)$43.45B$46.41B+6.81%

2024-08-142024-11-14

10 of 10 priced100.00% coverage
+4.74%
Holdings from Q2 2024 disclosure · accession 0001647251-24-000007 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE48,180,376$167.95$178.40$8.09B$8.6B+6.22%18.72%+1.2 bps1
MCO13,246,769$466.15$482.09$6.17B$6.39B+3.42%13.63%+0.5 bps1
MSFT10,531,890$416.86$426.89$4.39B$4.5B+2.41%11.50%+0.3 bps1
CNI39,488,385$111.14$110.05$4.39B$4.35B-0.98%11.40%-0.1 bps1
SPGI10,400,077$492.65$510.64$5.12B$5.31B+3.65%11.33%+0.4 bps1
V16,797,187$261.14$308.25$4.39B$5.18B+18.04%10.77%+1.9 bps1
CP54,913,285$78.03$75.87$4.28B$4.17B-2.77%10.57%-0.3 bps1
GOOG16,927,056$162.03$177.35$2.74B$3B+9.46%7.59%+0.7 bps1
GOOGL6,027,410$160.37$175.58$966.62M$1.06B+9.48%2.68%+0.3 bps1
FER19,095,244$40.18$38.58$767.25M$736.69M-3.98%1.81%-0.1 bps1
Top 5 (by entry value)(5)$28.17B$29.13B+3.42%
Total(10)$41.32B$43.27B+4.74%

2024-05-152024-08-14

10 of 10 priced100.00% coverage
+0.20%
Holdings from Q1 2024 disclosure · accession 0001647251-24-000004 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE46,809,215$163.47$167.95$7.65B$7.86B+2.74%20.72%+0.6 bps1
CNI39,488,385$125.39$111.14$4.95B$4.39B-11.36%13.12%-1.5 bps1
CP54,913,285$80.77$78.03$4.44B$4.28B-3.39%12.21%-0.4 bps1
MCO12,198,911$409.90$466.15$5B$5.69B+13.72%12.09%+1.7 bps1
V16,797,187$281.50$261.14$4.73B$4.39B-7.23%11.82%-0.9 bps1
MSFT10,531,890$423.08$416.86$4.46B$4.39B-1.47%11.17%-0.2 bps1
SPGI9,032,611$435.70$492.65$3.94B$4.45B+13.07%9.69%+1.3 bps1
GOOG16,927,056$173.88$162.03$2.94B$2.74B-6.82%6.50%-0.4 bps1
TMO1,517,639$599.02$602.10$909.1M$913.77M+0.51%2.22%+0.0 bps1
GOOGL1,210,591$172.51$160.37$208.84M$194.14M-7.04%0.46%-0.0 bps1
Top 5 (by entry value)(5)$26.79B$26.71B-0.28%
Total(10)$39.22B$39.3B+0.20%

2024-02-142024-05-15

11 of 11 priced100.00% coverage
+8.47%
Holdings from Q4 2023 disclosure · accession 0001647251-24-000002 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE41,650,076$116.92$163.47$4.87B$6.81B+39.81%14.78%+5.9 bps1
CNI40,072,313$128.86$125.39$5.16B$5.02B-2.69%14.01%-0.4 bps1
MCO12,049,611$366.48$409.90$4.42B$4.94B+11.85%13.08%+1.6 bps1
CP55,514,385$84.73$80.77$4.7B$4.48B-4.67%12.21%-0.6 bps1
V16,797,187$277.56$281.50$4.66B$4.73B+1.42%12.16%+0.2 bps1
MSFT10,638,165$409.49$423.08$4.36B$4.5B+3.32%11.12%+0.4 bps1
SPGI9,032,611$421.21$435.70$3.8B$3.94B+3.44%11.06%+0.4 bps1
GOOG16,927,056$147.14$173.88$2.49B$2.94B+18.17%6.63%+1.2 bps1
TMO3,146,382$548.27$599.02$1.73B$1.88B+9.26%4.64%+0.4 bps1
FERG436,695$193.55$220.73$84.52M$96.39M+14.04%0.23%+0.0 bps1
GOOGL157,400$145.94$172.51$22.97M$27.15M+18.21%0.06%+0.0 bps1
Top 5 (by entry value)(5)$23.82B$25.98B+9.11%
Total(11)$36.3B$39.37B+8.47%

2023-11-142024-02-14

9 of 9 priced100.00% coverage
+13.13%
Holdings from Q3 2023 disclosure · accession 0001647251-23-000012 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
GE41,650,076$93.58$116.92$3.9B$4.87B+24.95%16.70%+4.2 bps1
CNI40,888,953$114.64$128.86$4.69B$5.27B+12.40%16.06%+2.0 bps1
CP55,860,385$70.88$84.73$3.96B$4.73B+19.54%15.06%+2.9 bps1
V16,797,187$246.94$277.56$4.15B$4.66B+12.40%14.02%+1.7 bps1
SPGI9,058,611$403.91$421.21$3.66B$3.82B+4.28%12.01%+0.5 bps1
MCO10,371,017$351.17$366.48$3.64B$3.8B+4.36%11.90%+0.5 bps1
GOOG16,927,056$135.43$147.14$2.29B$2.49B+8.65%8.10%+0.7 bps1
TMO3,193,182$459.26$548.27$1.47B$1.75B+19.38%5.86%+1.1 bps1
FERG490,669$164.81$193.55$80.87M$94.97M+17.44%0.29%+0.1 bps1
Top 5 (by entry value)(5)$20.35B$23.35B+14.73%
Total(9)$27.83B$31.49B+13.13%

2023-08-142023-11-14

10 of 10 priced100.00% coverage
+0.51%
Holdings from Q2 2023 disclosure · accession 0001647251-23-000010 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
CNI40,888,953$116.16$114.64$4.75B$4.69B-1.31%14.71%-0.2 bps1
GE41,650,076$92.22$93.58$3.84B$3.9B+1.47%13.59%+0.2 bps1
CP55,860,385$80.39$70.88$4.49B$3.96B-11.83%13.41%-1.6 bps1
V17,786,169$242.90$246.94$4.32B$4.39B+1.66%12.55%+0.2 bps1
MSFT11,845,241$324.04$370.27$3.84B$4.39B+14.27%11.98%+1.7 bps1
SPGI9,329,611$388.69$403.91$3.63B$3.77B+3.92%11.11%+0.4 bps1
MCO10,520,317$338.78$351.17$3.56B$3.69B+3.66%10.87%+0.4 bps1
GOOG18,502,456$131.83$135.43$2.44B$2.51B+2.73%6.65%+0.2 bps1
TMO3,173,182$540.34$459.26$1.71B$1.46B-15.01%4.92%-0.7 bps1
FERG490,669$161.38$164.81$79.18M$80.87M+2.13%0.23%+0.0 bps1
Top 5 (by entry value)(5)$21.24B$21.32B+0.39%
Total(10)$32.66B$32.83B+0.51%

2023-05-152023-08-14

9 of 9 priced100.00% coverage
+4.20%
Holdings from Q1 2023 disclosure · accession 0001647251-23-000007 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
MSFT15,299,188$309.46$324.04$4.73B$4.96B+4.71%15.10%+0.7 bps1
V19,291,821$232.81$242.90$4.49B$4.69B+4.33%14.89%+0.6 bps1
CNI36,699,825$121.44$116.16$4.46B$4.26B-4.35%14.83%-0.6 bps1
CP55,860,385$82.93$80.39$4.63B$4.49B-3.06%14.72%-0.5 bps1
SPGI9,329,611$361.48$388.69$3.37B$3.63B+7.53%11.01%+0.8 bps1
MCO10,369,479$311.08$338.78$3.23B$3.51B+8.90%10.87%+1.0 bps1
GE26,112,747$81.40$92.22$2.13B$2.41B+13.28%8.55%+1.1 bps1
GOOG23,528,462$116.96$131.83$2.75B$3.1B+12.71%8.38%+1.1 bps1
TMO834,150$523.68$540.34$436.83M$450.72M+3.18%1.65%+0.1 bps1
Top 5 (by entry value)(5)$21.69B$22.02B+1.55%
Total(9)$30.23B$31.5B+4.20%