Q4 2025 · 13F-HR
TCI Fund Management Ltdholdings as filed
Filed 2026-02-17 · accession 0001647251-26-000002
$53.65B
Reported value
9
Positions
2025-12-31
Period end
The Brief · TCI Fund Management Ltd · Q4 2025
AI · grounded in 13F
TCI Fund Management Ltd reduced its position in Canadian Natl Ry Co CNI by 47.52%. The fund increased its holdings in Ferrovial SE FER and S&P Global Inc SPGI by 6.52% and 5.37% respectively. Other activity included a 4.43% reduction in Canadian Pacific Kansas City CP and a 1.14% increase in Microsoft Corp MSFT.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 369604301 | GE | GE AEROSPACE | $14.63B | 27.3% | 47,510,431 | Common | SOLE |
| 92826C839 | V | VISA INC | $9.72B | 18.1% | 27,724,233 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $8.12B | 15.1% | 16,781,953 | Common | SOLE |
| 615369105 | MCO | MOODYS CORP | $6.80B | 12.7% | 13,308,479 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $6.16B | 11.5% | 11,790,310 | Common | SOLE |
| 13646K108 | CP | CANADIAN PACIFIC KANSAS CITY | $3.51B | 6.54% | 47,654,423 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $2.38B | 4.44% | 7,596,819 | Common | SOLE |
| N3168P101 | FER | FERROVIAL SE | $1.35B | 2.51% | 20,740,214 | Common | SOLE |
| 136375102 | CNI | CANADIAN NATL RY CO | $974.1M | 1.82% | 9,849,934 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.