We break down the stocks Christopher Hohn (TCI Fund Management) bought, sold, and held in Q1 2024, including their holdings at the end of the quarter. All data sourced from TCI Fund Management's 13F filed on May 15, 2024.
Who are Christopher Hohn and TCI Fund Management?
TCI Fund Management (The Children's Investment Fund) is a value-oriented hedge fund founded in 2003 by activist investor Sir Christopher Hohn. The firm has delivered exceptional returns since inception while donating a significant portion of its profits to children's charities through the Children's Investment Fund Foundation. TCI employs a fundamental, research-intensive approach to invest globally in businesses with sustainable competitive advantages. Hohn frequently employs activist strategies to drive corporate governance improvements and strategic changes in portfolio companies.
TCIfund.com
Wikipedia on Christopher Hohn
Portfolio Changes in Q1 2024
New positions
TCI Fund Management did not initiate any new positions during Q1 2024.
Bought
TCI Fund Management significantly increased its stake in Alphabet (GOOGL), adding over 1 million shares to grow the position from 157,400 to 1.2 million shares. The firm also added to its General Electric (GE) position, increasing shares by over 5 million, and modestly increased its holding in Moody's (MCO) by approximately 149,300 shares.
Sold
TCI Fund Management completely liquidated its position in Ferguson (FERG), selling all 436,695 shares. The firm also reduced several existing positions, most notably cutting its Thermo Fisher (TMO) stake by over 1.6 million shares, trimming its Canadian railway holdings in both Canadian Pacific Kansas City (CP) and Canadian National (CNI), and slightly reducing its Microsoft (MSFT) position.
Holdings at the end of Q1 2024
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| GE | General Electric | 20.7% | Added (+12%) | $8.22B |
| CNI | Canadian National | 13.1% | Trimmed (-1%) | $5.2B |
| CP | Canadian Pacific Kansas City | 12.2% | Trimmed (-1%) | $4.84B |
| MCO | Moody's | 12.1% | Added (+1%) | $4.79B |
| V | Visa | 11.8% | $4.69B | |
| MSFT | Microsoft | 11.2% | Trimmed (-1%) | $4.43B |
| SPGI | S&P Global | 9.7% | $3.84B | |
| GOOG | Alphabet | 6.5% | $2.58B | |
| TMO | Thermo Fisher | 2.2% | Trimmed (-52%) | $882.07M |
| GOOGL | Alphabet | 0.5% | Added (+669%) | $182.71M |
| FERG | Ferguson | 0.0% | Exited | $0 |
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