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Chris Hohn TCI Fund Management

AUM $52.8B
1-Year Est. Return 12.71%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+3.46%
1 Year Est. Return
+12.71%
3 Year Est. Return
+82.91%
5 Year Est. Return
+92.54%
10 Year Est. Return
+623.16%
AUM
$53.6B
AUM Growth
+$949M
Cap. Flow
-$660M
Cap. Flow %
-1.23%
Top 10 Hldgs %
100%
Holding
9
New
–
Increased
3
Reduced
3
Closed
–

Top Buys

Rank Stock Value
1
SPGI icon
S&P Global
SPGI
+$297M
2
MSFT icon
Microsoft
MSFT
+$95.1M
3
FER icon
Ferrovial N.V. Ordinary Shares
FER
+$81.1M

Top Sells

Rank Stock Value
1
CNI icon
Canadian National Railway
CNI
+$857M
2
CP icon
Canadian Pacific Kansas City
CP
+$163M
3
V icon
Visa
V
+$113M

Sector Composition

Rank Sector Weight
1 Financials 42.28%
2 Industrials 38.15%
3 Technology 15.13%
4 Communication Services 4.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GE icon
1
GE Aerospace
GE
$382B
$14.6B 27.28%
47,510,431
– –
V icon
2
Visa
V
$680B
$9.72B 18.12%
27,724,233
-333,118
-1% -$113M
MSFT icon
3
Microsoft
MSFT
$3.68T
$8.12B 15.13%
16,781,953
+189,749
+1% +$95.1M
MCO icon
4
Moody's
MCO
$84B
$6.8B 12.67%
13,308,479
– –
SPGI icon
5
S&P Global
SPGI
$123B
$6.16B 11.48%
11,790,310
+600,440
+5% +$297M
CP icon
6
Canadian Pacific Kansas City
CP
$82.2B
$3.51B 6.54%
47,654,423
-2,211,312
-4% -$163M
GOOG icon
7
Alphabet (Google) Class C
GOOG
$4.2T
$2.38B 4.44%
7,596,819
– –
FER icon
8
Ferrovial N.V. Ordinary Shares
FER
$46.2B
$1.35B 2.51%
20,940,443
+1,281,805
+7% +$81.1M
CNI icon
9
Canadian National Railway
CNI
$76.7B
$974M 1.82%
9,849,934
-8,917,840
-48% -$857M

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Chris Hohn's Q4 2025 Portfolio in Review

As of Q4 2025, Chris Hohn held 9 positions worth $53.6B, up 1.8% from $52.7B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Trading was light in Q4 2025: portfolio turnover was 0%. Chris Hohn opened no new positions and made no exits, leaving the 9-position portfolio largely intact.

By sector, the portfolio is most concentrated in Financials at 42% of assets, up from 41% a quarter earlier, followed by Industrials and Technology.

  • Chris Hohn added most to S&P Global in Q4 2025, an estimated $297M increase.
  • Chris Hohn's biggest Q4 2025 reduction was Canadian National Railway, cutting an estimated $857M.
  • Chris Hohn's ten largest holdings make up 100% of its $53.6B portfolio in Q4 2025.
  • Chris Hohn opened 0 new positions and closed 0 in Q4 2025.
  • Chris Hohn's portfolio value rose 1.8% quarter-over-quarter to $53.6B.

Based on TCI Fund Management's 13F filing for Q4 2025, filed 17 Feb 2026.