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
|
+$3.79B |
| 2 |
Moody's
MCO
|
+$583M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$21.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian National Railway
CNI
|
+$92.5M |
| 2 |
Canadian Pacific Kansas City
CP
|
+$25.3M |
| 3 |
Thermo Fisher Scientific
TMO
|
+$22.7M |
| 4 |
S&P Global
SPGI
|
+$10.3M |
| 5 |
Ferguson
FERG
|
+$9.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 41.24% |
| 2 | Financials | 36.31% |
| 3 | Technology | 11.12% |
| 4 | Communication Services | 6.69% |
| 5 | Healthcare | 4.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
GE Aerospace
GE
$382B
| $5.32B | 14.78% |
52,187,545
| – | – |
|
|
2
Canadian National Railway
CNI
$76.7B
| $5.04B | 14.01% |
40,072,313
-816,640
| -2% | -$92.5M |
|
|
3
Moody's
MCO
$84B
| $4.71B | 13.08% |
12,049,611
+1,678,594
| +16% | +$583M |
|
|
4
Canadian Pacific Kansas City
CP
$82.2B
| $4.39B | 12.21% |
55,514,385
-346,000
| -0.6% | -$25.3M |
|
5
Visa
V
$680B
| $4.37B | 12.16% |
16,797,187
| – | – |
|
|
6
Microsoft
MSFT
$3.68T
| $4B | 11.12% |
+10,638,165
| New | +$3.79B |
|
|
7
S&P Global
SPGI
$123B
| $3.98B | 11.06% |
9,032,611
-26,000
| -0.3% | -$10.3M |
|
|
8
Alphabet (Google) Class C
GOOG
$4.2T
| $2.39B | 6.63% |
16,927,056
| – | – |
|
|
9
Thermo Fisher Scientific
TMO
$218B
| $1.67B | 4.64% |
3,146,382
-46,800
| -1% | -$22.7M |
|
|
10
Ferguson
FERG
$47.4B
| $84.3M | 0.23% |
436,695
-53,974
| -11% | -$9.1M |
|
|
11
Alphabet (Google) Class A
GOOGL
$4.23T
| $22M | 0.06% |
+157,400
| New | +$21.1M |
|
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Chris Hohn's Q4 2023 Portfolio in Review
As of Q4 2023, Chris Hohn held 11 positions worth $36B, up 30% from $27.6B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Chris Hohn deployed $4.23B of net new capital in Q4 2023, opening 2 new positions and adding to 1 existing holding. Its largest new stake was Microsoft: 10,638,165 shares worth $4B.
By sector, the portfolio is most concentrated in Industrials at 41% of assets, down from 48% a quarter earlier, followed by Financials and Technology.
On the sell side, the largest reduction was Canadian National Railway, an estimated $92.5M trimmed.
- Chris Hohn's largest Q4 2023 buy was Microsoft: 10,638,165 shares worth $4B.
- Chris Hohn added most to Moody's in Q4 2023, an estimated $583M increase.
- Chris Hohn's biggest Q4 2023 reduction was Canadian National Railway, cutting an estimated $92.5M.
- Chris Hohn's ten largest holdings make up 100% of its $36B portfolio in Q4 2023.
- Chris Hohn opened 2 new positions and closed 0 in Q4 2023.
- Chris Hohn's portfolio value rose 30% quarter-over-quarter to $36B.
Based on TCI Fund Management's 13F filing for Q4 2023, filed 14 Feb 2024.