TCI Fund Management Portfolio holdings
AUM
$52.8B
Turnover
25%
1-Year Est. Return
12.71%
This Fund
S&P 500
This Quarter
Est. Return
+3.92%
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
$52.7B
AUM Growth
+$1.99B
(+3.9%)
Cap. Flow
+$380M
Cap. Flow
% of AUM
0.72%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
10
New
–
Increased
3
Reduced
4
Closed
1
Avg Time Held
5.9
years
Top 10 Avg Time Held
5.3
years
Top 20 Avg Time Held
5.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Visa
V
|
+$3.11B |
| 2 |
S&P Global
SPGI
|
+$52.6M |
| 3 |
Moody's
MCO
|
+$31M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$1.13B |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$556M |
| 3 |
Microsoft
MSFT
|
+$496M |
| 4 |
Canadian National Railway
CNI
|
+$407M |
| 5 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
1
GE Aerospace
GE
$319B
| $14.3B | 27.12% |
47,510,431
| – | – |
2023 Q1
10 quarters
|
|
|
2
Visa
V
$735B
| $9.58B | 18.18% |
28,057,351
+8,989,793
| +47% | +$3.11B |
2019 Q2
25 quarters
|
|
|
3
Microsoft
MSFT
$3.96T
| $8.59B | 16.31% |
16,592,204
-973,027
| -6% | -$496M |
2023 Q4
7 quarters
|
|
|
4
Moody's
MCO
$80.1B
| $6.34B | 12.03% |
13,308,479
+61,500
| +0.5% | +$31M |
2015 Q2
41 quarters
|
|
|
5
S&P Global
SPGI
$120B
| $5.45B | 10.33% |
11,189,870
+98,247
| +0.9% | +$52.6M |
2017 Q1
34 quarters
|
|
|
6
Canadian Pacific Kansas City
CP
$75.7B
| $3.71B | 7.05% |
49,865,735
-2,961,150
| -6% | -$226M |
2018 Q1
30 quarters
|
|
|
7
Alphabet (Google) Class C
GOOG
$4.2T
| $1.85B | 3.51% |
7,596,819
-5,369,416
| -41% | -$1.13B |
2017 Q3
32 quarters
|
|
|
8
Canadian National Railway
CNI
$72.4B
| $1.77B | 3.36% |
18,767,774
-4,221,292
| -18% | -$407M |
2018 Q3
28 quarters
|
|
9
Ferrovial N.V. Ordinary Shares
FER
$36.1B
| $1.11B | 2.11% |
19,658,638
| – | – |
2024 Q2
5 quarters
|
|
|
10
Alphabet (Google) Class A
GOOGL
$4.25T
| – | – |
-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.