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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
+15.09%
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
$36B
AUM Growth
+$8.4B
Cap. Flow
+$4.23B
Cap. Flow %
11.76%
Top 10 Hldgs %
99.94%
Holding
11
New
2
Increased
1
Reduced
5
Closed
–

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$3.79B
2
MCO icon
Moody's
MCO
+$583M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$21.1M

Top Sells

Rank Stock Value
1
CNI icon
Canadian National Railway
CNI
+$92.5M
2
CP icon
Canadian Pacific Kansas City
CP
+$25.3M
3
TMO icon
Thermo Fisher Scientific
TMO
+$22.7M
4
SPGI icon
S&P Global
SPGI
+$10.3M
5
FERG icon
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
GE icon
1
GE Aerospace
GE
$364B
$5.32B 14.78%
52,187,545
– –
CNI icon
2
Canadian National Railway
CNI
$78.5B
$5.04B 14.01%
40,072,313
-816,640
-2% -$92.5M
MCO icon
3
Moody's
MCO
$83.7B
$4.71B 13.08%
12,049,611
+1,678,594
+16% +$583M
CP icon
4
Canadian Pacific Kansas City
CP
$81B
$4.39B 12.21%
55,514,385
-346,000
-0.6% -$25.3M
V icon
5
Visa
V
$701B
$4.37B 12.16%
16,797,187
– –
MSFT icon
6
Microsoft
MSFT
$2.9T
$4B 11.12%
+10,638,165
New +$3.79B
SPGI icon
7
S&P Global
SPGI
$124B
$3.98B 11.06%
9,032,611
-26,000
-0.3% -$10.3M
GOOG icon
8
Alphabet (Google) Class C
GOOG
$4.11T
$2.39B 6.63%
16,927,056
– –
TMO icon
9
Thermo Fisher Scientific
TMO
$214B
$1.67B 4.64%
3,146,382
-46,800
-1% -$22.7M
FERG icon
10
Ferguson
FERG
$43.9B
$84.3M 0.23%
436,695
-53,974
-11% -$9.1M
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.12T
$22M 0.06%
+157,400
New +$21.1M

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AS
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TCI Fund Management's Q4 2023 Portfolio in Review

As of Q4 2023, TCI Fund Management held 11 positions worth $36B, up 30% from $27.6B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

TCI Fund Management 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.

  • TCI Fund Management's largest Q4 2023 buy was Microsoft: 10,638,165 shares worth $4B.
  • TCI Fund Management added most to Moody's in Q4 2023, an estimated $583M increase.
  • TCI Fund Management's biggest Q4 2023 reduction was Canadian National Railway, cutting an estimated $92.5M.
  • TCI Fund Management's ten largest holdings make up 100% of its $36B portfolio in Q4 2023.
  • TCI Fund Management opened 2 new positions and closed 0 in Q4 2023.
  • TCI Fund Management'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.