TCI Fund Management Ltd
Annual return '25
+18.0%
SPY '25
+17.7%
Alpha
+0.3ptsvs SPY
Invested
$45.2B
Holdings
10
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 98%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$GE
GE AEROSPACE
Q4 2025: Exited (was 47.51M shares)
29.8%
02
$V
VISA INC
Q4 2025: Exited (was 28.06M shares)
20.4%
03
$MCO
MOODYS CORP
Q4 2025: Exited (was 13.31M shares)
13.8%
04
$SPGI
S&P GLOBAL INC
Q4 2025: Exited (was 11.19M shares)
13.2%
05
$CP
CANADIAN PACIFIC KANSAS CITY
Q4 2025: Exited (was 49.87M shares)
8.1%
06
$GOOG
ALPHABET INC
Q4 2025: Sold 98.4% (7.60M → 118.2k shares)
5.6%
07
$FER
FERROVIAL SE
Q4 2025: Exited (was 19.47M shares)
2.9%
08
$CNR
CANADIAN NATL RY CO
Q4 2025: Exited (was 18.77M shares)
2.2%
09
$MSFT
MICROSOFT CORP
Q4 2025: Exited (was 16.59M shares)
2.2%
10
$GOOGL
ALPHABET INC
Q3 2025: Exited (was 3.16M shares)
1.6%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 09:09 UTC.