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 |
Alphabet (Google) Class C
GOOG
|
+$1.25B |
| 2 |
Elevance Health
ELV
|
+$823M |
| 3 |
Canadian National Railway
CNI
|
+$564M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$410M |
| 5 |
UNVR
Univar Solutions Inc.
UNVR
|
+$265M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Union Pacific
UNP
|
+$507M |
| 2 |
Fox Class A
FOXA
|
+$406M |
| 3 |
Microsoft
MSFT
|
+$135M |
| 4 |
Fox Class B
FOX
|
+$126M |
| 5 |
Charter Communications
CHTR
|
+$61M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 44.19% |
| 2 | Industrials | 27.89% |
| 3 | Technology | 11.87% |
| 4 | Financials | 9.6% |
| 5 | Healthcare | 4.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Charter Communications
CHTR
$13.7B
| $3.84B | 20.71% |
9,716,058
-162,745
| -2% | -$61M |
2016 Q2
12 quarters
|
|
|
2
Alphabet (Google) Class C
GOOG
$3.53T
| $3.76B | 20.27% |
69,521,900
+21,678,380
| +45% | +$1.25B |
2017 Q3
7 quarters
|
|
3
Canadian Pacific Kansas City
CP
$82.1B
| $2.39B | 12.9% |
50,787,325
+1,692,855
| +3% | +$75.6M |
2018 Q1
5 quarters
|
|
|
4
Microsoft
MSFT
$4.06T
| $2.2B | 11.87% |
16,425,574
-1,066,000
| -6% | -$135M |
2017 Q4
6 quarters
|
|
|
5
Canadian National Railway
CNI
$76.3B
| $1.76B | 9.48% |
18,992,423
+6,134,889
| +48% | +$564M |
2018 Q3
3 quarters
|
|
6
Moody's
MCO
$87.6B
| $1.18B | 6.35% |
6,022,912
| – | – |
2015 Q2
16 quarters
|
|
|
7
Elevance Health
ELV
$90.7B
| $850M | 4.59% |
+3,012,085
| New | +$823M |
2019 Q2
0 quarters
|
|
|
8
Union Pacific
UNP
$176B
| $800M | 4.31% |
4,727,781
-2,955,796
| -38% | -$507M |
2017 Q2
8 quarters
|
|
|
9
Alphabet (Google) Class A
GOOGL
$3.55T
| $595M | 3.21% |
10,994,420
+7,080,800
| +181% | +$410M |
2017 Q4
6 quarters
|
|
10
S&P Global
SPGI
$137B
| $452M | 2.44% |
1,982,414
| – | – |
2017 Q1
9 quarters
|
|
|
UNVR
11
DELISTED
Univar Solutions Inc.
UNVR
| $347M | 1.87% |
15,764,300
+12,147,398
| +336% | +$265M |
2019 Q1
1 quarter
|
|
12
Equifax
EFX
$22.3B
| $221M | 1.19% |
1,634,083
| – | – |
2019 Q1
1 quarter
|
|
13
Visa
V
$791B
| $151M | 0.81% |
+870,100
| New | +$142M |
2019 Q2
0 quarters
|
|
|
14
Fox Class B
FOX
$25.5B
| – | – |
-3,516,883
| Closed | -$126M | – |
|
|
15
Fox Class A
FOXA
$28.5B
| – | – |
-11,050,164
| Closed | -$406M | – |
|
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Chris Hohn's Q2 2019 Portfolio in Review
As of Q2 2019, Chris Hohn held 15 positions worth $18.5B, up 21% from $15.3B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Chris Hohn deployed $2.3B of net new capital in Q2 2019, opening 2 new positions and adding to 5 existing holdings. Its largest new stake was Elevance Health: 3,012,085 shares worth $850M.
By sector, the portfolio is most concentrated in Communication Services at 44% of assets, down from 46% a quarter earlier, followed by Industrials and Technology.
On the sell side, the largest reduction was Union Pacific, an estimated $507M trimmed.
- Chris Hohn's largest Q2 2019 buy was Elevance Health: 3,012,085 shares worth $850M.
- Chris Hohn added most to Alphabet (Google) Class C in Q2 2019, an estimated $1.25B increase.
- Chris Hohn's biggest Q2 2019 reduction was Union Pacific, cutting an estimated $507M.
- Chris Hohn fully exited Fox Class A in Q2 2019, selling an estimated $406M.
- Chris Hohn's ten largest holdings make up 96% of its $18.5B portfolio in Q2 2019.
- Chris Hohn opened 2 new positions and closed 2 in Q2 2019.
- Chris Hohn's portfolio value rose 21% quarter-over-quarter to $18.5B.
Based on TCI Fund Management's 13F filing for Q2 2019, filed 14 Aug 2019.