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Chris Hohn
TCI Fund Management
Founder of TCI, an activist fund known for very concentrated positions held for years and for pressing boards on governance.
TCI Fund Management reported 11 positions worth $52.77B in U.S.-listed equities as of Q2 2026. It opened 2 new positions that quarter. It exited one position. The largest holding is General Electric Co (GE), at 33.6% of the portfolio. The biggest new position was Martin Marietta Matls Inc (MLM), at $758.42M.
Photo: Foreign, Commonwealth & Development Office / Wikimedia Commons (CC BY 2.0)
- Portfolio value
- $52.77B
- Positions
- 11
- Dividends (est.)
- $369.26M
- Estimated over 4 quarters, to Q2 2026
Positions as of Q2 2026, per the 13F filed on Aug 14, 2026. Current positions may differ.
What changed last quarter
Positions opened, added to, trimmed or closed in the Q2 2026 filing.
- $1.91B
- $1.19B
- $711.28M
- Put money into stocks
A 13F does not report cash. It covers only U.S.-listed securities — cash, bonds, foreign stocks and private holdings are invisible in it, which is why Berkshire’s cash pile appears in its 10-Q and not here. What the filing does show is direction: selling more than buying means money left U.S. equities that quarter. Where it went — cash, fixed income, other markets — the form does not say.
Bought(6)
Composition
Positions (11)
Estimated across every position in each quarter, so a single stock can be compared against the whole. Same caveat as elsewhere: a 13F reports the share count on the last day of the quarter, while dividends are paid throughout it.
Analysis
Articles on this site that cover Chris Hohn.
- Chris Hohn’s TCI in Q2 2026: GE Aerospace is a third of $53 billion, two new materials stocks, Microsoft gonePublished Oct 11, 2026
- S&P Global (SPGI) after the Mobility spin-off: a $5.7 billion TCI stake, Ackman’s new position, and $7 billion of buybacksPublished Oct 11, 2026
- Visa (V) at a record close: the financial stock most tracked funds own, and who moved in the second quarterPublished Oct 11, 2026
- Visa vs. Mastercard: two 50%-margin networks, Ackman buying both, and a tie since 2008Published Oct 11, 2026
- Microsoft (MSFT): Azure is now its biggest business, and OpenAI is in the numbersPublished Oct 11, 2026
- Alphabet (GOOGL): why a P/E of 17 understates the price, and how Google Cloud became the growth enginePublished Oct 11, 2026