Chris Hohn

TCI Fund Management Ltd

Period:  Q3, 2025
Filed Date:  Nov 14, 2025
Reported Date:  Sep 30, 2025
No. of Stocks:  9
Portfolio Value:  52.70B
StockActivityShare Change% Change to protfolio
Q3 2025
Alphabet inc
Reduced 41.41%759681941.411
Canadian natl ry co
Reduced 18.36%1876777418.362
Canadian pacific kansas city
Reduced 5.61%498657355.605
Microsoft corp
Reduced 5.54%165922045.540
Moodys corp
Add 0.46%13308479-0.576
S&p global inc
Add 0.89%11189870-0.763
Visa inc
Add 47.15%280573515.329
Alphabet inc
Sold 100%31551101.097
Q2 2025
Ferrovial se
Add 0.71%194706660.350

GOOG - Alphabet inc

Reduced 6.42%129662356.420

GOOGL - Alphabet inc

Reduced 22.77%315511022.766

CNI - Canadian national railway co

Reduced 14.54%2298906614.536

CP - Canadian pacific kansas city ltd

Reduced 3.80%528268853.799

GE - General electric co

Reduced 0.13%475104310.127

MSFT - Microsoft corp

Add 1.53%175652314.423

MCO - Moody's corp

Add 0.64%132469791.015

SPGI - S&p global inc

Add 7.05%110916231.152

V - Visa inc

Add 14.61%190675581.852
Q1 2025

GOOG - Alphabet inc

Reduced 16.06%1385573516.062

GOOGL - Alphabet inc

Reduced 32.22%408511032.224

CNI - Canadian national railway co

Reduced 9.41%268990789.412

GE - General electric co

Add 3.42%475709474.263

MSFT - Microsoft corp

Add 23.63%172998811.374

MCO - Moody's corp

Reduced 0.63%131631070.632

SPGI - S&p global inc

Reduced 0.37%103612690.373

V - Visa inc

Reduced 0.95%166375620.950
Q4 2024
Ferrovial se
Add 1.25%19333428-0.018

GOOG - Alphabet inc

Reduced 2.48%165070562.481

CNI - Canadian national railway co

Reduced 16.21%2969376416.208

GE - General electric co

Reduced 4.53%459998764.526

MSFT - Microsoft corp

Add 16.71%139936371.742
Q3 2024

CNI - Canadian national railway co

Reduced 10.26%3543727710.259

MSFT - Microsoft corp

Add 13.85%119905901.028
Q2 2024

GOOGL - Alphabet inc

Add 397.89%60274102.236
Ferrovial se
Buy190952441.813

GE - General electric co

Add 2.93%48180376-1.362

MCO - Moody's corp

Add 8.59%132467691.909

SPGI - S&p global inc

Add 15.14%104000771.944
Q1 2024

GOOGL - Alphabet inc

Add 669.12%12105910.405

CNI - Canadian national railway co

Reduced 1.46%394883851.457

CP - Canadian pacific kansas city ltd

Reduced 1.08%549132851.083

GE - General electric co

Add 12.39%468092157.314

MSFT - Microsoft corp

Reduced 1.00%105318900.999

MCO - Moody's corp

Add 1.24%121989110.223

TMO - Thermo fisher scientific inc

Reduced 51.77%151763951.766

FERG - Ferguson plc

Sold 100%4366950.234
Q4 2023

GOOGL - Alphabet inc

Buy1574000.061

CNI - Canadian national railway co

Reduced 2.00%400723131.997

CP - Canadian pacific kansas city ltd

Reduced 0.62%555143850.619

FERG - Ferguson plc

Reduced 11.00%43669511.000

MSFT - Microsoft corp

Buy1063816511.122

MCO - Moody's corp

Add 16.19%120496113.968

SPGI - S&p global inc

Reduced 0.29%90326110.287

TMO - Thermo fisher scientific inc

Reduced 1.47%31463821.466
Q3 2023

GOOG - Alphabet inc

Reduced 8.51%169270568.515

MCO - Moody's corp

Reduced 1.42%103710171.419

SPGI - S&p global inc

Reduced 2.90%90586112.905

V - Visa inc

Reduced 5.56%167971875.560

MSFT - Microsoft corp

Sold 100%1184524111.981