TCI Fund Management Ltd Long-Term Concentrated

Location: LONDON, X0

CIK: 0001647251 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 15, 2026

Total Value: $45.17B (100.0% shares, 0.0% debt)

Holdings (10)

New Positions (1)

GOOGL ALPHABET INC 1.6%

Value $707M Shares 2,457,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	2,457,000	$707M	1.6%	—	—	CAP STK CL A	02079K305

Increased Positions (4)

MCO MOODYS CORP 13.8%

Value $6.253B (-8.0%) Shares 14,334,027 (+7.7%) Est. Cost — Unrealized —

V VISA INC 20.4%

Value $9.209B (-5.3%) Shares 30,468,133 (+9.9%) Est. Cost — Unrealized —

SPGI S&P GLOBAL INC 13.2%

Value $5.97B (-3.1%) Shares 14,035,310 (+19.0%) Est. Cost — Unrealized —

GOOG ALPHABET INC 5.6%

Value $2.54B (+6.5%) Shares 8,854,019 (+16.5%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MCO	MOODYS CORP	14,334,027 (+7.7%)	$6.253B (-8.0%)	13.8%	—	—	COM	615369105
V	VISA INC	30,468,133 (+9.9%)	$9.209B (-5.3%)	20.4%	—	—	COM CL A	92826C839
SPGI	S&P GLOBAL INC	14,035,310 (+19.0%)	$5.97B (-3.1%)	13.2%	—	—	COM	78409V104
GOOG	ALPHABET INC	8,854,019 (+16.5%)	$2.54B (+6.5%)	5.6%	—	—	CAP STK CL C	02079K107

Decreased Positions (2)

MSFT MICROSOFT CORP 2.2%

Value $1.01B (-87.6%) Shares 2,728,412 (-83.7%) Est. Cost — Unrealized —

CP CANADIAN PACIFIC KANSAS CITY 8.1%

Value $3.66B (+4.3%) Shares 46,521,923 (-2.4%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	2,728,412 (-83.7%)	$1.01B (-87.6%)	2.2%	—	—	COM	594918104
CP	CANADIAN PACIFIC KANSAS CITY	46,521,923 (-2.4%)	$3.66B (+4.3%)	8.1%	—	—	COM	13646K108

Unchanged Positions (3)

GE GE AEROSPACE 29.8%

Value $13.48B Shares 47,510,431 Est. Cost — Unrealized —

CNI CANADIAN NATL RY CO 2.2%

Value $1.013B Shares 9,849,934 Est. Cost — Unrealized —

FER FERROVIAL SE 2.9%

Value $1.328B Shares 20,740,214 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GE	GE AEROSPACE	47,510,431	$13.48B	29.8%	—	—	COM NEW	369604301
CNI	CANADIAN NATL RY CO	9,849,934	$1.013B	2.2%	—	—	COM	136375102
FER	FERROVIAL SE	20,740,214	$1.328B	2.9%	—	—	ORD SHS	N3168P101