TCI Fund Management

Q3 2021 13F · by Chris Hohn, founder

As of: Sep 30, 2021
Filed: Nov 15, 2021
US stock: $41.6B · prev $40.1B
Positions: 13 · prev 13
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%

Moves9 since the prior filing

+6.3 pp in · −4.2 pp out

New 1 +1.08 pp
Added 4 +5.27 pp
Trimmed 3 −4.22 pp
Exited 1 −0.02 pp

The book

Very concentrated · behaves like 8 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 15% a year, about 6.8 years per position

Low
Moderate
High

Top 5 positions69% of US stock

Positions13 in this filing · 1 exited


GOOGAlphabet Inc. Class C	18.90%	2,952,307	$7.9B	held	—	17 q
CHTRCharter Comm Inc Del CL A New	18.10%	10,359,092	$7.5B	trimmed−0%	−0.59 pp	22 q
MSFTMicrosoft Corp	11.29%	16,683,044	$4.7B	trimmed−19%	−2.55 pp	16 q
VVISA Inc.	10.67%	19,939,311	$4.4B	added+42%	+2.47 pp	10 q
CNICanadian National Railway	10.20%	36,699,825	$4.2B	added+22%	+2.28 pp	13 q
unresolvedCanadian Pac Ry Ltd	8.74%	55,860,385	$3.6B	held	—	15 q
MCOMoody's Corporation	5.60%	6,562,790	$2.3B	held	—	26 q
SPGIS&P Global Inc.	4.91%	4,813,438	$2.0B	trimmed−18%	−1.08 pp	19 q
GOOGLAlphabet Inc. Class A	3.97%	618,021	$1.7B	held	—	16 q
BXPBXP, Inc.	3.38%	12,988,749	$1.4B	added+14%	+0.11 pp	6 q
UNPUnion Pacific Corp.	2.69%	5,721,210	$1.1B	held	—	18 q
MRKTIhs Markit Ltd	1.08%	3,839,242	$448M	new	+1.08 pp	new
AREAlexandria Real Estate Equities, Inc.	0.48%	1,044,359	$200M	added×6.4	+0.41 pp	2 q
KRCKilroy Realty Corp.	—	−120,083	—	exited	−0.02 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001647251-21-000010
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet