TCI Fund Management

Q4 2016 13F · by Chris Hohn, founder

As of: Dec 31, 2016
Filed: Feb 14, 2017
US stock: $9.5B · prev $9.0B
Positions: 5 · prev 6
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%

Moves4 since the prior filing

+6.8 pp in · −0.5 pp out

New 0 0.00 pp
Added 2 +6.81 pp
Trimmed 1 −0.11 pp
Exited 1 −0.39 pp

The book

Very concentrated · behaves like 3 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 1.8% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions100% of US stock

CHTR Charter Comm Inc Del CL A New added+2.35 pp added+2.3538.4%
unresolved Yahoo Inc held held35.1%
CMCSA Comcast Corp added+4.46 pp added+4.4626.0%
OSG Octave Specialty Group, Inc. held held0.5%
MCO Moody's Corporation trimmed−0.11 pp trimmed−0.110.0%

Positions5 in this filing · 1 exited


CHTRCharter Comm Inc Del CL A New	38.42%	12,679,234	$3.7B	added+6%	+2.35 pp	3 q
unresolvedYahoo Inc	35.09%	86,224,273	$3.3B	held	—	4 q
CMCSAComcast Corp	26.00%	35,780,552	$2.5B	added+23%	+4.46 pp	7 q
OSGOctave Specialty Group, Inc.	0.47%	1,985,785	$45M	held	—	7 q
MCOMoody's Corporation	0.01%	10,428	$983,000	trimmed−90%	−0.11 pp	7 q
AYAtlantica Sustainable Infras	—	−1,842,903	—	exited	−0.39 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001647251-17-000004
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet