Chris Hohn
TCI Fund Management
Chris Hohn (TCI Fund Management) discloses a $45.17B portfolio across 10 US-listed positions in the latest 13F filing (2026Q1, filed May 15, 2026). The largest holding is GE at 29.8% of the book. The biggest move of the quarter: trimmed the MSFT share count by 84% (position now $1.01B). Latticework's clone backtest puts this 13F book at +0.3%/yr vs SPY over 10.7 years.
About Chris Hohn
Chris Hohn runs TCI Fund Management, a London-based activist and long-term equity fund whose U.S. 13F reflects an exceptionally concentrated book — ten reported positions with roughly 85% of disclosed value in five names as of the most recent filing. The portfolio's composition (GE Aerospace, Visa, Moody's, S&P Global, Canadian Pacific Kansas City) is consistent with Hohn's documented preference for high-quality, competitively entrenched businesses held at low turnover, sometimes paired with activist pressure on capital allocation or governance. TCI is also known for its climate-related shareholder campaigns, pursued through its sister entity CIFF. The critical disclosure-gap caveat: TCI runs substantial non-U.S. equity exposure — European names and global positions that never appear in a 13F — so the filing represents a partial and potentially unrepresentative slice of the actual fund. The clone backtest's near-flat excess return (+0.3%/yr) is consistent with that truncation; the real portfolio's track record is materially different from what U.S. filings can reconstruct.
2026Q1 brief
Chris Hohn's TCI Fund Management reported a hyper-concentrated $45.2B portfolio of just 10 positions, with the top five accounting for 85.4% of assets. The dominant move this quarter was a dramatic 83.7% trim of MSFT, which was cut to a rump 2.2% before effectively becoming a near-exit, while GE (29.8%), V (20.4%), MCO (13.8%), and SPGI (13.2%) held steady as the core. Simultaneously, Hohn initiated a new position in GOOGL (1.6%), alongside the existing GOOG (5.6%) already in the book — suggesting a deliberate share-class diversification rather than a new thematic bet. The Microsoft exit is the headline: it signals Hohn's conviction that the financial-infrastructure and aerospace compounders (V, MCO, SPGI, GE) offer superior risk-adjusted returns versus a richly valued software giant. The portfolio is now almost entirely built around tollbooth-style businesses and regulated infrastructure, including Canadian rails CP (8.1%) and CNI (2.2%). Watch whether the combined GOOGL/GOOG allocation expands meaningfully in Q2, which would confirm a decisive rotation from Microsoft into Alphabet.
AI-generated. Not investment advice.
In the news
all news →- MSFT Stock Drops After British Hedge Fund Slashes $8B Stake, Almost Ends Decade-Long HoldingStocktwits ·
- Visa (V): Top 9 Best Stock to Buy in Chris Hohn’s TCI Fund PortfolioInsider Monkey ·
- Is Alphabet (GOOGL) the Best Stock to Buy in Chris Hohn’s TCI Fund Portfolio?Yahoo Finance ·
- 5 Best Stocks in Chris Hohn’s TCI Fund PortfolioInsider Monkey ·
- Chris Hohn’s TCI Fund Portfolio: 9 Best Stocks to BuyInsider Monkey ·
- Chris Hohn Portfolio: TCI’s Top Holdings (Q1 2026)Hedge Fund Alpha ·
Headlines via Google News. Links open in a new tab.
Holdings (10) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | GE | 29.8% | $13.48B | |||
| 2 | V | 20.4% | $9.21B | |||
| 3 | MCO | 13.8% | $6.25B | |||
| 4 | SPGI | 13.2% | $5.97B | |||
| 5 | CP | 8.1% | $3.66B | |||
| 6 | GOOG | 5.6% | $2.54B | |||
| 7 | N3168P101 | 2.9% | $1.33B | |||
| 8 | CNI | 2.2% | $1.01B | |||
| 9 | MSFT | 2.2% | $1.01B | |||
| 10 | GOOGL | 1.6% | $707M |
- 1GEport29.8%val$13.48BGeneral Electricthis Q hold·13q
- 2Vport20.4%val$9.21BVisa Inc-class A Sharesthis Q hold·28q
- 3MCOport13.8%val$6.25BMoody's Corpthis Q hold·40q
- 4SPGIport13.2%val$5.97BS&p Global Incthis Q hold·37q
- 5CPport8.1%val$3.66BCanadian Pacific Kansas Citythis Q hold·12q
- 6GOOGport5.6%val$2.54BAlphabet Inc-cl Cthis Q hold·35q
- 7N3168P101port2.9%val$1.33BFerrovial SEthis Q hold·8q
- 8CNIport2.2%val$1.01BCanadian Natl Railway COthis Q hold·31q
- 9MSFTport2.2%val$1.01BMicrosoft Corpthis Q -84%·33q
- 10GOOGLport1.6%val$707MAlphabet Inc-cl Athis Q New·29q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| MSFT | Microsoft Corp | TRIM | 2.2% | -84% | $1.01B |
| GOOGL | Alphabet Inc-cl A | NEW | 1.6% | +100% | $707M |
- TRIMMSFT2.2%Microsoft CorpΔ -84%·$1.01B
- NEWGOOGL1.6%Alphabet Inc-cl AΔ +100%·$707M
Frequently asked questions
- What stocks does Chris Hohn own?
- As of 2026Q1, Chris Hohn's 13F discloses 10 positions worth $45.17B. The top five holdings: GE (29.8%), V (20.4%), MCO (13.8%), SPGI (13.2%), CP (8.1%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Chris Hohn buy this quarter?
- In 2026Q1, the filing shows 1 new position and 0 additions to existing holdings. The largest positions touched by buying: GOOGL.
- How big is Chris Hohn's portfolio?
- $45.17B across 10 positions per the latest 13F (filed May 15, 2026). The top five holdings account for 85% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001647251). Not investment advice.