TCI Fund Management portfolio
Investment firm, London · 13F holdings for the quarter ended June 30, 2026
Filed with the SEC August 14, 2026 · Next filing due by November 14, 2026
Reported value
$52.8B
up from $45.2B in Q1 2026
Positions
11
10 last quarter
Top 10 holdings
98.6%
of the portfolio
This quarter
2 new · 1 sold
4 added to, 3 trimmed
What TCI Fund Management did in Q2 2026
TCI Fund Management opened new positions in Martin Marietta Materials and Vulcan Materials. It sold out of Microsoft. General Electric is still the largest holding, at 33.6% of the portfolio.
Biggest buys
- Martin Marietta Materials MLMNew
- Vulcan Materials VMCNew
- Alphabet GOOG+12%
- Ferrovial FER+1.0%
- S&P Global SPGI+0.3%
Biggest sells
- Microsoft MSFTSold out
- Canadian National Railway CNI−4%
- Canadian Pacific Kansas City CP−3%
- General Electric GE−0.2%
Top 11 holdings
Values as reported in the 13F, not today’s prices| # | Company | Share of portfolio | Reported value | Change vs Q1 2026 | Held since |
|---|---|---|---|---|---|
| 1 | General ElectricGE | 33.6% | $17.7B | −0.2% | Q3 2024 or earlier |
| 2 | VisaV | 19.8% | $10.5B | +0.1% | Q3 2024 or earlier |
| 3 | MoodysMCO | 12.3% | $6.5B | No change | Q3 2024 or earlier |
| 4 | S&P GlobalSPGI | 10.9% | $5.7B | +0.3% | Q3 2024 or earlier |
| 5 | Canadian Pacific Kansas CityCP | 7.4% | $3.9B | −3% | Q3 2024 or earlier |
| 6 | AlphabetGOOG | 6.7% | $3.5B | +12% | Q3 2024 or earlier |
| 7 | FerrovialFER | 2.7% | $1.4B | +1.0% | Q3 2024 or earlier |
| 8 | Canadian National RailwayCNI | 2.1% | $1.1B | −4% | Q3 2024 or earlier |
| 9 | AlphabetGOOGL | 1.7% | $878.1M | No change | Q3 2024 or earlier |
| 10 | Martin Marietta MaterialsMLM | 1.4% | $758.4M | New | Q2 2026 |
| 11 | Vulcan MaterialsVMC | 1.4% | $721.9M | New | Q2 2026 |
Every quarter’s holdings going back years, and what changed in each.Request early access to see the full portfolio →
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About this data
- What is a 13F?
- A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- How current is it?
- Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- Whose figures are these?
- The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- What does it leave out?
- Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.