TCI Fund Management

Q4 2021 13F · by Chris Hohn, founder

As of: Dec 31, 2021
Filed: Feb 14, 2022
US stock: $44.4B · prev $41.6B
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%

Moves6 since the prior filing

+2.6 pp in · −4.8 pp out

New 0 0.00 pp
Added 3 +2.59 pp
Trimmed 3 −4.80 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 9 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 8.4% a year, about 12.0 years per position

Low
Moderate
High

Top 5 positions68% of US stock

Positions13 in this filing · 0 exited


GOOGAlphabet Inc. Class C	19.22%	2,952,307	$8.5B	held	—	18 q
CHTRCharter Comm Inc Del CL A New	14.38%	9,800,605	$6.4B	trimmed−5%	−3.72 pp	23 q
MSFTMicrosoft Corp	12.63%	16,683,044	$5.6B	held	—	17 q
VVISA Inc.	11.26%	23,094,422	$5.0B	added+16%	+0.59 pp	11 q
CNICanadian National Railway	10.15%	36,699,825	$4.5B	held	—	14 q
unresolvedCanadian Pac Ry Ltd	9.05%	55,860,385	$4.0B	held	—	16 q
MCOMoody's Corporation	5.77%	6,562,790	$2.6B	held	—	27 q
GOOGLAlphabet Inc. Class A	4.03%	618,021	$1.8B	held	—	17 q
SPGIS&P Global Inc.	3.98%	3,747,284	$1.8B	trimmed−22%	−0.93 pp	20 q
UNPUnion Pacific Corp.	3.48%	6,145,915	$1.5B	added+7%	+0.79 pp	19 q
BXPBXP, Inc.	3.23%	12,458,851	$1.4B	trimmed−4%	−0.15 pp	7 q
MRKTIhs Markit Ltd	2.29%	7,660,706	$1.0B	added+100%	+1.21 pp	2 q
AREAlexandria Real Estate Equities, Inc.	0.52%	1,044,359	$233M	held	—	3 q

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001647251-22-000002
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet