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
-10.12%
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
$45.2B
AUM Growth
-$8.48B
(-16%)
Cap. Flow
-$2.39B
Cap. Flow
% of AUM
-5.3%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
10
New
1
Increased
4
Reduced
2
Closed
–
Avg Time Held
5.8
years
Top 10 Avg Time Held
5.2
years
Top 20 Avg Time Held
5.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
S&P Global
SPGI
|
+$1.04B |
| 2 |
Visa
V
|
+$882M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$772M |
| 4 |
Moody's
MCO
|
+$485M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$395M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$5.88B |
| 2 |
Canadian Pacific Kansas City
CP
|
+$89.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 47.45% |
| 2 | Industrials | 43.13% |
| 3 | Communication Services | 7.19% |
| 4 | Technology | 2.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
GE Aerospace
GE
$319B
| $13.5B | 29.85% |
47,510,431
| – | – |
2023 Q1
12 quarters
|
|
|
2
Visa
V
$735B
| $9.21B | 20.39% |
30,468,133
+2,743,900
| +10% | +$882M |
2019 Q2
27 quarters
|
|
|
3
Moody's
MCO
$80.1B
| $6.25B | 13.84% |
14,334,027
+1,025,548
| +8% | +$485M |
2015 Q2
43 quarters
|
|
|
4
S&P Global
SPGI
$120B
| $5.97B | 13.22% |
14,035,310
+2,245,000
| +19% | +$1.04B |
2017 Q1
36 quarters
|
|
|
5
Canadian Pacific Kansas City
CP
$75.7B
| $3.66B | 8.1% |
46,521,923
-1,132,500
| -2% | -$89.5M |
2018 Q1
32 quarters
|
|
|
6
Alphabet (Google) Class C
GOOG
$4.2T
| $2.54B | 5.62% |
8,854,019
+1,257,200
| +17% | +$395M |
2017 Q3
34 quarters
|
|
7
Ferrovial N.V. Ordinary Shares
FER
$36.1B
| $1.33B | 2.94% |
20,940,443
| – | – |
2024 Q2
7 quarters
|
|
8
Canadian National Railway
CNI
$72.4B
| $1.01B | 2.24% |
9,849,934
| – | – |
2018 Q3
30 quarters
|
|
|
9
Microsoft
MSFT
$3.96T
| $1.01B | 2.24% |
2,728,412
-14,053,541
| -84% | -$5.88B |
2023 Q4
9 quarters
|
|
|
10
Alphabet (Google) Class A
GOOGL
$4.25T
| $707M | 1.56% |
+2,457,000
| New | +$772M |
2026 Q1
0 quarters
|
|
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TCI Fund Management's Q1 2026 Portfolio in Review
As of Q1 2026, TCI Fund Management held 10 positions worth $45.2B, down 16% from $53.6B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
TCI Fund Management withdrew a net $2.39B in Q1 2026, reducing 2 holdings. Its largest reduction was Microsoft, cutting an estimated $5.88B.
By sector, the portfolio is most concentrated in Financials at 47% of assets, up from 42% a quarter earlier, followed by Industrials and Communication Services.
Against the trend, TCI Fund Management opened a new position in Alphabet (Google) Class A worth $707M.
- TCI Fund Management's largest Q1 2026 buy was Alphabet (Google) Class A: 2,457,000 shares worth $707M.
- TCI Fund Management added most to S&P Global in Q1 2026, an estimated $1.04B increase.
- TCI Fund Management's biggest Q1 2026 reduction was Microsoft, cutting an estimated $5.88B.
- TCI Fund Management's ten largest holdings make up 100% of its $45.2B portfolio in Q1 2026.
- TCI Fund Management opened 1 new position and closed 0 in Q1 2026.
- TCI Fund Management's portfolio value fell 16% quarter-over-quarter to $45.2B.
Based on TCI Fund Management's 13F filing for Q1 2026, filed 15 May 2026.