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 |
Elevance Health
ELV
|
+$293M |
| 2 |
RTN
Raytheon Company
RTN
|
+$217M |
| 3 |
Charter Communications
CHTR
|
+$185M |
| 4 |
Canadian Pacific Kansas City
CP
|
+$153M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$83.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$790M |
| 2 |
Equifax
EFX
|
+$120M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 48.11% |
| 2 | Industrials | 27.24% |
| 3 | Financials | 9.98% |
| 4 | Technology | 7.79% |
| 5 | Healthcare | 5.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Alphabet (Google) Class C
GOOG
$3.6T
| $4.32B | 22.43% |
70,932,720
+1,410,820
| +2% | +$83.5M |
2017 Q3
8 quarters
|
|
|
2
Charter Communications
CHTR
$15.8B
| $4.19B | 21.76% |
10,174,272
+458,214
| +5% | +$185M |
2016 Q2
13 quarters
|
|
|
3
Canadian Pacific Kansas City
CP
$81.9B
| $2.4B | 12.47% |
54,037,920
+3,250,595
| +6% | +$153M |
2018 Q1
6 quarters
|
|
4
Canadian National Railway
CNI
$76.3B
| $1.72B | 8.91% |
19,102,713
+110,290
| +0.6% | +$10.2M |
2018 Q3
4 quarters
|
|
|
5
Microsoft
MSFT
$3.89T
| $1.48B | 7.7% |
10,679,732
-5,745,842
| -35% | -$790M |
2017 Q4
7 quarters
|
|
6
Moody's
MCO
$87.6B
| $1.23B | 6.4% |
6,022,912
| – | – |
2015 Q2
17 quarters
|
|
|
7
Elevance Health
ELV
$92.8B
| $980M | 5.08% |
4,080,597
+1,068,512
| +35% | +$293M |
2019 Q2
1 quarter
|
|
8
Union Pacific
UNP
$180B
| $791M | 4.1% |
4,882,781
+155,000
| +3% | +$26.1M |
2017 Q2
9 quarters
|
|
9
Alphabet (Google) Class A
GOOGL
$3.64T
| $755M | 3.92% |
12,360,420
+1,366,000
| +12% | +$80.9M |
2017 Q4
7 quarters
|
|
10
S&P Global
SPGI
$137B
| $486M | 2.52% |
1,982,414
| – | – |
2017 Q1
10 quarters
|
|
|
UNVR
11
DELISTED
Univar Solutions Inc.
UNVR
| $346M | 1.8% |
16,679,200
+914,900
| +6% | +$18.9M |
2019 Q1
2 quarters
|
|
|
RTN
12
DELISTED
Raytheon Company
RTN
| $230M | 1.19% |
+1,169,860
| New | +$217M |
2019 Q3
0 quarters
|
|
13
Visa
V
$794B
| $204M | 1.06% |
1,183,542
+313,442
| +36% | +$55.8M |
2019 Q2
1 quarter
|
|
|
14
Equifax
EFX
$22B
| $110M | 0.57% |
780,639
-853,444
| -52% | -$120M |
2019 Q1
2 quarters
|
|
15
Autodesk
ADSK
$55.3B
| $16.7M | 0.09% |
+113,000
| New | +$17.6M |
2019 Q3
0 quarters
|
|
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Chris Hohn's Q3 2019 Portfolio in Review
As of Q3 2019, Chris Hohn held 15 positions worth $19.3B, up 4% from $18.5B the previous quarter. Its ten largest holdings account for 95% of the portfolio.
Chris Hohn's Q3 2019 filing shows 2 new, 9 increased and 2 reduced positions. Its largest new stake was Raytheon Company: 1,169,860 shares worth $230M. The largest sale was Microsoft, an estimated $790M.
By sector, the portfolio is most concentrated in Communication Services at 48% of assets, up from 44% a quarter earlier, followed by Industrials and Financials.
- Chris Hohn's largest Q3 2019 buy was Raytheon Company: 1,169,860 shares worth $230M.
- Chris Hohn added most to Elevance Health in Q3 2019, an estimated $293M increase.
- Chris Hohn's biggest Q3 2019 reduction was Microsoft, cutting an estimated $790M.
- Chris Hohn's ten largest holdings make up 95% of its $19.3B portfolio in Q3 2019.
- Chris Hohn opened 2 new positions and closed 0 in Q3 2019.
- Chris Hohn's portfolio value rose 4% quarter-over-quarter to $19.3B.
Based on TCI Fund Management's 13F filing for Q3 2019, filed 14 Nov 2019.