Chris Hohn - TCI Fund Management 13F Activity & Position Changes (Q2 2026)

According to the SEC 13F filed on Aug 14, 2026, the TCI Fund Management portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2026, the filing reported:

New Buys - Martin Marietta Materials, Inc., Vulcan Materials Company (Holdi

Increases - Ferrovial, Alphabet Inc., S&P Global Inc., Visa Inc.

Reductions - Canadian National Railway Compa, Canadian Pacific Kansas City Li, GE Aerospace

Complete Exits - Microsoft Corporation

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q2 2026	CNI Canadian National Railway Compa	Canadian National Railway Compa	Sell	-416,512	-4.2%	$1.12B	9,433,422
Q2 2026	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Sell	-1,196,197	-2.6%	$3.93B	45,325,726
Q2 2026	FER.MC Ferrovial	Ferrovial	Buy	+200,227	+1.0%	$1.43B	20,940,441
Q2 2026	GE GE Aerospace	GE Aerospace	Sell	-82,198	-0.2%	$17.73B	47,428,233
Q2 2026	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+1,084,800	+12.3%	$3.51B	9,938,819
Q2 2026	MLM Martin Marietta Materials, Inc.	Martin Marietta Materials, Inc.	Buy - Position Entry	+1,315,109	-	$758.42M	1,315,109
Q2 2026	MSFT Microsoft Corporation	Microsoft Corporation	Sell - Position Exit	-2,728,412	-100.0%	$0.00	-
Q2 2026	SPGI S&P Global Inc.	S&P Global Inc.	Buy	+46,647	+0.3%	$5.74B	14,081,957
Q2 2026	V Visa Inc.	Visa Inc.	Buy	+26,000	+0.1%	$10.46B	30,494,133
Q2 2026	VMC Vulcan Materials Company (Holdi	Vulcan Materials Company (Holdi	Buy - Position Entry	+2,447,004	-	$721.89M	2,447,004
Q1 2026	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Sell	-1,132,500	-2.4%	$3.66B	46,521,923
Q1 2026	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+1,257,200	+16.5%	$2.54B	8,854,019
Q1 2026	GOOGL Alphabet Inc.	Alphabet Inc.	Buy - Position Entry	+2,457,000	-	$706.53M	2,457,000
Q1 2026	MCO Moody's Corporation	Moody's Corporation	Buy	+1,025,548	+7.7%	$6.25B	14,334,027
Q1 2026	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-14,053,541	-83.7%	$1.01B	2,728,412
Q1 2026	SPGI S&P Global Inc.	S&P Global Inc.	Buy	+2,245,000	+19.0%	$5.97B	14,035,310
Q1 2026	V Visa Inc.	Visa Inc.	Buy	+2,743,900	+9.9%	$9.21B	30,468,133