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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
+16.67%
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
$50.7B
AUM Growth
+$7.33B
Cap. Flow
+$501M
Cap. Flow %
0.99%
Top 10 Hldgs %
100%
Holding
10
New
–
Increased
5
Reduced
5
Closed
–

Top Buys

Rank Stock Value
1
V icon
Visa
V
+$847M
2
SPGI icon
S&P Global
SPGI
+$364M
3
MSFT icon
Microsoft
MSFT
+$115M
4
MCO icon
Moody's
MCO
+$38.8M
5
FER icon
Ferrovial N.V. Ordinary Shares
FER
+$6.75M

Top Sells

Rank Stock Value
1
CNI icon
Canadian National Railway
CNI
+$398M
2
CP icon
Canadian Pacific Kansas City
CP
+$160M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$152M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$147M
5
GE icon
GE Aerospace
GE
+$13.3M

Sector Composition

Rank Sector Weight
1 Industrials 39.15%
2 Financials 37.99%
3 Technology 17.23%
4 Communication Services 5.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GE icon
1
GE Aerospace
GE
$368B
$12.2B 24.12%
47,510,431
-60,516
-0.1% -$13.3M
MSFT icon
2
Microsoft
MSFT
$2.86T
$8.74B 17.23%
17,565,231
+265,350
+2% +$115M
V icon
3
Visa
V
$673B
$6.77B 13.35%
19,067,558
+2,429,996
+15% +$847M
MCO icon
4
Moody's
MCO
$82.6B
$6.64B 13.1%
13,246,979
+83,872
+0.6% +$38.8M
SPGI icon
5
S&P Global
SPGI
$126B
$5.85B 11.53%
11,091,623
+730,354
+7% +$364M
CP icon
6
Canadian Pacific Kansas City
CP
$82.1B
$4.19B 8.26%
52,826,885
-2,086,400
-4% -$160M
CNI icon
7
Canadian National Railway
CNI
$79.1B
$2.39B 4.72%
22,989,066
-3,910,012
-15% -$398M
GOOG icon
8
Alphabet (Google) Class C
GOOG
$3.92T
$2.3B 4.54%
12,966,235
-889,500
-6% -$147M
FER icon
9
Ferrovial N.V. Ordinary Shares
FER
$45.4B
$1.04B 2.05%
19,658,638
+138,563
+0.7% +$6.75M
GOOGL icon
10
Alphabet (Google) Class A
GOOGL
$3.92T
$556M 1.1%
3,155,110
-930,000
-23% -$152M

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AS
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TCI Fund Management's Q2 2025 Portfolio in Review

As of Q2 2025, TCI Fund Management held 10 positions worth $50.7B, up 17% from $43.4B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Trading was light in Q2 2025: portfolio turnover was 0%. TCI Fund Management opened no new positions and made no exits, leaving the 10-position portfolio largely intact.

By sector, the portfolio is most concentrated in Industrials at 39% of assets, up from 39% a quarter earlier, followed by Financials and Technology.

  • TCI Fund Management added most to Visa in Q2 2025, an estimated $847M increase.
  • TCI Fund Management's biggest Q2 2025 reduction was Canadian National Railway, cutting an estimated $398M.
  • TCI Fund Management's ten largest holdings make up 100% of its $50.7B portfolio in Q2 2025.
  • TCI Fund Management opened 0 new positions and closed 0 in Q2 2025.
  • TCI Fund Management's portfolio value rose 17% quarter-over-quarter to $50.7B.

Based on TCI Fund Management's 13F filing for Q2 2025, filed 14 Aug 2025.