Chris Hohn TCI Fund Management Q1 2026: Major Stake Increases in Visa, S&P Global

As of March 31, 2026, Chris Hohn's TCI Fund Management held a substantial portfolio valued at approximately $45.2 billion. This comprehensive review examines the significant changes in the fund's top holdings during the first quarter of 2026.

The fund demonstrated a clear preference for Financial Services holdings, with three of the top six positions falling within this sector. The most notable increase during the quarter was in Visa (V), where the fund added 2.74 million shares, representing a 9.9% increase in its stake. This brings Visa's allocation to 20.39% of the total portfolio. Investors can explore Visa's performance and details at https://www.insiderset.com/investors/stocks/V.

Another significant addition was S&P Global (SPGI), which saw a 19.04% increase in shares held by TCI Fund Management, adding 2.25 million shares. This pushed S&P Global's portfolio allocation to 13.22%. For more information on S&P Global, visit https://www.insiderset.com/investors/stocks/SPGI.

The fund also maintained its position in Moody's Corp (MCO), increasing its stake by 7.71% through the addition of 1.03 million shares. Moody's allocation stands at 13.84%. Further details on Moody's Corp are available at https://www.insiderset.com/investors/stocks/MCO.

In the Industrials sector, the fund held Canadian Pacific Kansas City (CP), which saw a moderate decrease of 2.38% in its stake during the quarter due to a reduction of 1.13 million shares. The allocation for CP remains at 8.1%. More information on Canadian Pacific can be found at https://www.insiderset.com/investors/stocks/CP.

The Technology sector saw a notable reduction in Microsoft Corp (MSFT), with the fund decreasing its stake by a substantial 83.74% through the sale of 14.05 million shares. Microsoft's allocation now stands at 2.24%. Visit https://www.insiderset.com/investors/stocks/MSFT for more details on Microsoft.

Similarly, in the Communication Services sector, Alphabet Inc. (GOOGL) experienced a significant reduction of 22.13% in its stake, with the fund selling 0.7 million shares. The allocation for GOOGL is now 1.56%. Further information on Alphabet can be found at https://www.insiderset.com/investors/stocks/GOOGL.

While the fund held Alphabet Inc. (GOOG) at the end of the quarter with a 5.62% allocation, no specific change data was provided for this position. Details on Alphabet Inc. (GOOG) are available at https://www.insiderset.com/investors/stocks/GOOG.

For a complete view of Chris Hohn's investment activities, please visit TCI Fund Management's profile.