Chris Hohn TCI Fund Management
Sir Chris Hohn is the founder of TCI Fund Management, a London-based firm known for concentrated, long-term equity portfolios and occasional activism. TCI’s process emphasizes high-quality businesses with durable competitive advantages, often held for years. Hohn is also known for philanthropy through the Children’s Investment Fund Foundation, which supports health, education, and climate initiatives.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$922M |
| 2 |
Canadian National Railway
CNI
|
+$742M |
| 3 |
Moody's
MCO
|
+$596M |
| 4 |
Canadian Pacific Kansas City
CP
|
+$584M |
| 5 |
Union Pacific
UNP
|
+$387M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Norfolk Southern
NSC
|
+$677M |
| 2 |
Charter Communications
CHTR
|
+$565M |
| 3 |
PG&E
PCG
|
+$64.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 66.73% |
| 2 | Industrials | 16.26% |
| 3 | Technology | 11.09% |
| 4 | Financials | 5.92% |
| 5 | Utilities | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TFCFA
1
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $5.51B | 27.57% |
114,502,969
| – | – |
|
|
2
Charter Communications
CHTR
$18.4B
| $3.35B | 16.78% |
11,772,411
-1,801,430
| -13% | -$565M |
|
3
Alphabet (Google) Class C
GOOG
$4.2T
| $2.89B | 14.45% |
55,759,760
+2,526,000
| +5% | +$135M |
|
|
4
Microsoft
MSFT
$3.68T
| $2.22B | 11.09% |
21,817,804
+8,605,697
| +65% | +$922M |
|
|
5
Canadian Pacific Kansas City
CP
$82.2B
| $1.39B | 6.96% |
39,176,580
+14,618,115
| +60% | +$584M |
|
|
6
Union Pacific
UNP
$174B
| $1.06B | 5.32% |
7,698,818
+2,610,091
| +51% | +$387M |
|
|
TFCF
7
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $1.06B | 5.3% |
22,189,801
| – | – |
|
|
8
Moody's
MCO
$84B
| $837M | 4.19% |
5,978,677
+3,948,485
| +194% | +$596M |
|
|
9
Canadian National Railway
CNI
$76.7B
| $795M | 3.98% |
10,720,483
+8,948,483
| +505% | +$742M |
|
|
10
Alphabet (Google) Class A
GOOGL
$4.23T
| $450M | 2.25% |
8,612,000
+1,000,000
| +13% | +$54M |
|
11
S&P Global
SPGI
$123B
| $347M | 1.74% |
2,040,954
+1,596,335
| +359% | +$286M |
|
12
Liberty Media Series C
FWONK
$26B
| $74.5M | 0.37% |
2,510,278
+2,236,205
| +816% | +$69.5M |
|
|
13
Norfolk Southern
NSC
$75.1B
| – | – |
-3,753,454
| Closed | -$677M |
|
|
14
PG&E
PCG
$39.3B
| – | – |
-1,400,611
| Closed | -$64.4M |
|
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Chris Hohn's Q4 2018 Portfolio in Review
As of Q4 2018, Chris Hohn held 14 positions worth $20B, up 4.7% from $19.1B the previous quarter. Its ten largest holdings account for 98% of the portfolio.
Chris Hohn deployed $2.47B of net new capital in Q4 2018, adding to 9 existing holdings.
By sector, the portfolio is most concentrated in Communication Services at 67% of assets, down from 75% a quarter earlier, followed by Industrials and Technology.
On the sell side, the largest reduction was Charter Communications, an estimated $565M trimmed.
- Chris Hohn added most to Microsoft in Q4 2018, an estimated $922M increase.
- Chris Hohn's biggest Q4 2018 reduction was Charter Communications, cutting an estimated $565M.
- Chris Hohn fully exited Norfolk Southern in Q4 2018, selling an estimated $677M.
- Chris Hohn's ten largest holdings make up 98% of its $20B portfolio in Q4 2018.
- Chris Hohn opened 0 new positions and closed 2 in Q4 2018.
- Chris Hohn's portfolio value rose 4.7% quarter-over-quarter to $20B.
Based on TCI Fund Management's 13F filing for Q4 2018, filed 14 Feb 2019.