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 |
Thermo Fisher Scientific
TMO
|
+$10.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$4.03B |
| 2 |
Visa
V
|
+$238M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$205M |
| 4 |
S&P Global
SPGI
|
+$107M |
| 5 |
Moody's
MCO
|
+$50.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 48.12% |
| 2 | Financials | 37.92% |
| 3 | Communication Services | 8.1% |
| 4 | Healthcare | 5.86% |
| 5 | Technology | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
GE Aerospace
GE
$382B
| $4.6B | 16.7% |
52,187,545
| – | – |
|
2
Canadian National Railway
CNI
$76.7B
| $4.43B | 16.06% |
40,888,953
| – | – |
|
3
Canadian Pacific Kansas City
CP
$82.2B
| $4.15B | 15.06% |
55,860,385
| – | – |
|
|
4
Visa
V
$680B
| $3.86B | 14.02% |
16,797,187
-988,982
| -6% | -$238M |
|
|
5
S&P Global
SPGI
$123B
| $3.31B | 12.01% |
9,058,611
-271,000
| -3% | -$107M |
|
|
6
Moody's
MCO
$84B
| $3.28B | 11.9% |
10,371,017
-149,300
| -1% | -$50.8M |
|
|
7
Alphabet (Google) Class C
GOOG
$4.2T
| $2.23B | 8.1% |
16,927,056
-1,575,400
| -9% | -$205M |
|
|
8
Thermo Fisher Scientific
TMO
$218B
| $1.62B | 5.86% |
3,193,182
+20,000
| +0.6% | +$10.7M |
|
9
Ferguson
FERG
$47.4B
| $80.3M | 0.29% |
490,669
| – | – |
|
|
10
Microsoft
MSFT
$3.68T
| – | – |
-11,845,241
| Closed | -$4.03B |
|
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Chris Hohn's Q3 2023 Portfolio in Review
As of Q3 2023, Chris Hohn held 10 positions worth $27.6B, down 18% from $33.7B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Chris Hohn withdrew a net $4.62B in Q3 2023, closing 1 position and reducing 4 holdings. Its most notable exit was Microsoft, an estimated $4.03B position sold in full.
By sector, the portfolio is most concentrated in Industrials at 48% of assets, up from 42% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Chris Hohn added an estimated $10.7M to Thermo Fisher Scientific.
- Chris Hohn added most to Thermo Fisher Scientific in Q3 2023, an estimated $10.7M increase.
- Chris Hohn's biggest Q3 2023 reduction was Visa, cutting an estimated $238M.
- Chris Hohn fully exited Microsoft in Q3 2023, selling an estimated $4.03B.
- Chris Hohn's ten largest holdings make up 100% of its $27.6B portfolio in Q3 2023.
- Chris Hohn opened 0 new positions and closed 1 in Q3 2023.
- Chris Hohn's portfolio value fell 18% quarter-over-quarter to $27.6B.
Based on TCI Fund Management's 13F filing for Q3 2023, filed 14 Nov 2023.