Breaking down the stocks Christopher Hohn (TCI Fund Management) bought, sold, and held in Q2 2025, including their holdings at the end of the quarter. All data sourced from TCI Fund Management's 13F filed on August 14, 2025.
Who is TCI Fund Management?
TCI Fund Management (The Children's Investment Fund) is a value-oriented hedge fund founded in 2003 by activist investor Sir Christopher Hohn. The firm has delivered exceptional returns since inception while donating a significant portion of its profits to children's charities through the Children's Investment Fund Foundation. TCI employs a fundamental, research-intensive approach to invest globally in businesses with sustainable competitive advantages. Hohn frequently employs activist strategies to drive corporate governance improvements and strategic changes in portfolio companies.
TCIfund.com
Wikipedia on Christopher Hohn
Q2 '25 13F filed with SEC
Portfolio Changes in Q2 2025
New positions
TCI Fund Management did not establish any new positions during Q2 2025.
Bought
TCI Fund Management added to several existing holdings, with the largest increases in Visa (V) (+2.4 million shares), S&P Global (SPGI) (+730k shares), Microsoft (MSFT) (+265k shares), Ferrovial (FER) (+137k shares), and Moody's (MCO) (+84k shares).
Sold
TCI Fund Management trimmed several positions, with the most significant reductions in Canadian National (CNI) (-3.9 million shares), Canadian Pacific Kansas City (CP) (-2.1 million shares), and both classes of Alphabet shares, selling 930k shares of Alphabet (GOOGL) and 890k shares of Alphabet (GOOG), while making a minor trim to General Electric (GE) (-61k shares).
Holdings at the end of Q2 2025
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| GE | General Electric | 24.1% | Trimmed (-0%) | $12.23B |
| MSFT | Microsoft | 17.2% | Added (+2%) | $8.74B |
| V | Visa | 13.4% | Added (+15%) | $6.77B |
| MCO | Moody's | 13.1% | Added (+1%) | $6.64B |
| SPGI | S&P Global | 11.5% | Added (+7%) | $5.85B |
| CP | Canadian Pacific Kansas City | 8.3% | Trimmed (-4%) | $4.19B |
| CNI | Canadian National | 4.7% | Trimmed (-15%) | $2.39B |
| GOOG | Alphabet | 4.5% | Trimmed (-6%) | $2.3B |
| FER | Ferrovial | 2.0% | Added (+1%) | $1.04B |
| GOOGL | Alphabet | 1.1% | Trimmed (-23%) | $556.03M |
Disclaimer: All posts are for informational purposes only. They are NOT a recommendation to buy or sell the securities discussed. Please do your own research and due diligence before investing your money.
