TCI FUND MANAGEMENT LTD
SEC Form 13F institutional filer · CIK 0001647251
13F-HR · 7 reported holdings · 2026-03-31
Activist hedge fund manager.
Reported long-US-equity value
$39.17B
Top-10 concentration
100.0%
TCI FUND MANAGEMENT LTD — $39.2B AUM allocation strategy
TCI FUND MANAGEMENT LTD files SEC Form 13F and reports $39.2B of long US equity value across 7 reported holdings for 2026-03-31.
Its largest sector bet is Financials 54.7%, followed by Industrials 34.4% and Communication Services 8.3%.
The top 10 holdings account for 100% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
TCI FUND MANAGEMENT LTD — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$39.2B
total across 7 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
100% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$V +2.74M sh · −$514M+$SPGI +2.25M sh · −$192M+$GOOGL +1.26M sh · +$156M
Exited to nil (held last quarter, gone now)
None this quarter
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Aerospace & Defense34.4%—
- Financial Exchanges & Data31.2%—
- Transaction & Payment Processing Services23.5%—
- Interactive Media & Services8.3%—
- Systems Software2.6%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
7 of 7 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $GE | GE Aerospace | 47.5M | $13.5B | +0 | 34.4% |
| $V | Visa Inc | 30.5M | $9.21B | +2.74M | 23.5% |
| $MCO | Moody's Corporation | 14.3M | $6.25B | +1.03M | 16.0% |
| $SPGI | S&P Global Inc | 14M | $5.97B | +2.25M | 15.2% |
| $GOOGL | Alphabet Inc | 8.85M | $2.54B | +1.26M | 6.5% |
| $MSFT | Microsoft Corporation | 2.73M | $1.01B | -14.1M | 2.6% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 2.46M | $707M | — | 1.8% |
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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