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TCI Fund Management

TCI Fund Management Portfolio holdings

AUM $45.2B
1-Year Est. Return 12.74%
This Fund
S&P 500
This Quarter Est. Return
+3.92%
1 Year Est. Return
+12.74%
3 Year Est. Return
+72.29%
5 Year Est. Return
+86.18%
10 Year Est. Return
+564.76%
AUM
$52.7B
AUM Growth
+$1.99B
Cap. Flow
+$380M
Cap. Flow %
0.72%
Top 10 Hldgs %
100%
Holding
10
New
–
Increased
3
Reduced
4
Closed
1

Top Buys

Rank Stock Value
1
V icon
Visa
V
+$3.11B
2
SPGI icon
S&P Global
SPGI
+$52.6M
3
MCO icon
Moody's
MCO
+$31M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$1.13B
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$556M
3
MSFT icon
Microsoft
MSFT
+$496M
4
CNI icon
Canadian National Railway
CNI
+$407M
5
CP icon
Canadian Pacific Kansas City
CP
+$226M

Sector Composition

Rank Sector Weight
1 Financials 40.54%
2 Industrials 39.64%
3 Technology 16.31%
4 Communication Services 3.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GE icon
1
GE Aerospace
GE
$396B
$14.3B 27.12%
47,510,431
– –
V icon
2
Visa
V
$688B
$9.58B 18.18%
28,057,351
+8,989,793
+47% +$3.11B
MSFT icon
3
Microsoft
MSFT
$3.62T
$8.59B 16.31%
16,592,204
-973,027
-6% -$496M
MCO icon
4
Moody's
MCO
$83.8B
$6.34B 12.03%
13,308,479
+61,500
+0.5% +$31M
SPGI icon
5
S&P Global
SPGI
$121B
$5.45B 10.33%
11,189,870
+98,247
+0.9% +$52.6M
CP icon
6
Canadian Pacific Kansas City
CP
$80.4B
$3.71B 7.05%
49,865,735
-2,961,150
-6% -$226M
GOOG icon
7
Alphabet (Google) Class C
GOOG
$4.4T
$1.85B 3.51%
7,596,819
-5,369,416
-41% -$1.13B
CNI icon
8
Canadian National Railway
CNI
$77.1B
$1.77B 3.36%
18,767,774
-4,221,292
-18% -$407M
FER icon
9
Ferrovial N.V. Ordinary Shares
FER
$48B
$1.11B 2.11%
19,658,638
– –
GOOGL icon
10
Alphabet (Google) Class A
GOOGL
$4.43T
– –
-3,155,110
Closed -$556M

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TCI Fund Management's Q3 2025 Portfolio in Review

As of Q3 2025, TCI Fund Management held 10 positions worth $52.7B, up 3.9% from $50.7B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

TCI Fund Management's Q3 2025 filing shows 3 increased, 4 reduced and 1 closed positions. The largest sale was Alphabet (Google) Class C, an estimated $1.13B.

By sector, the portfolio is most concentrated in Financials at 41% of assets, up from 38% a quarter earlier, followed by Industrials and Technology.

  • TCI Fund Management added most to Visa in Q3 2025, an estimated $3.11B increase.
  • TCI Fund Management's biggest Q3 2025 reduction was Alphabet (Google) Class C, cutting an estimated $1.13B.
  • TCI Fund Management fully exited Alphabet (Google) Class A in Q3 2025, selling an estimated $556M.
  • TCI Fund Management's ten largest holdings make up 100% of its $52.7B portfolio in Q3 2025.
  • TCI Fund Management opened 0 new positions and closed 1 in Q3 2025.
  • TCI Fund Management's portfolio value rose 3.9% quarter-over-quarter to $52.7B.

Based on TCI Fund Management's 13F filing for Q3 2025, filed 14 Nov 2025.