TCI Fund Management

Q2 2016 13F · by Chris Hohn, founder

As of: Jun 30, 2016
Filed: Aug 15, 2016
US stock: $7.3B · prev $5.4B
Positions: 6 · prev 7
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves8 since the prior filing

+66.8 pp in · −66.8 pp out

New 2 +37.20 pp
Added 3 +29.65 pp
Trimmed 0 0.00 pp
Exited 3 −66.80 pp

The book

Very concentrated · behaves like 3 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 196% a year, about 0.5 years per position

Low
Moderate
High

Top 5 positions100% of US stock

unresolved Yahoo Inc added+26.59 pp added+26.5936.4%
CHTR Charter Comm Inc Del CL A New new+36.08 pp new+36.0836.1%
CMCSA Comcast Corp added+3.20 pp added+3.2025.8%
AY Atlantica Sustainable Infras new+1.12 pp new+1.121.1%
OSG Octave Specialty Group, Inc. added−0.14 pp added−0.140.4%

Positions6 in this filing · 3 exited


unresolvedYahoo Inc	36.41%	71,206,573	$2.7B	added×4.9	+26.59 pp	2 q
CHTRCharter Comm Inc Del CL A New	36.08%	11,592,824	$2.7B	new	+36.08 pp	new
CMCSAComcast Corp	25.82%	29,092,107	$1.9B	added+45%	+3.20 pp	5 q
AYAtlantica Sustainable Infras	1.12%	4,422,584	$82M	new	+1.12 pp	new
OSGOctave Specialty Group, Inc.	0.44%	1,985,785	$33M	added×6.0	−0.14 pp	5 q
MCOMoody's Corporation	0.13%	102,239	$10M	held	—	5 q
unresolvedTime Warner Cable Inc	—	−16,126,180	—	exited	−61.12 pp	—
BIDUBaidu, Inc.	—	−1,194,094	—	exited	−4.22 pp	—
unresolvedAbengoa Yield PLC	—	−4,422,584	—	exited	−1.46 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001647251-16-000017
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet