TCI Fund Management Ltd

Q3 2025 13F-HR Holdings

Location
London, X0
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
9
Total value ($000)
$52,699,548
Net value change ($000)
+1,992,637 (3.9%)
New positions
0
Sold out positions
1
Turnover %
1.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/14/2025 Next filing: 2/17/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
V 2,808,282 41.5%
GE 2,063,378 16.9%
FER 75,751 7.3%
Top Reduces (Value $000, Stocks/ETFs)
CNI -624,737 -26.1%
GOOGL -556,025 -100.0%
CP -475,338 -11.3%
GOOGL -449,875 -19.6%
SPGI -402,280 -6.9%
MCO -303,328 -4.6%
MSFT -143,190 -1.6%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type