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TCI FUND MANAGEMENT LTD

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13F filer, CIK 1647251, LONDON, United Kingdom

TCI FUND MANAGEMENT LTD reported $50,706,910,931 across 10 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001647251-25-000009

Period
2025-06-30
Reported value
$50.7B
Holdings
10
Top 10 weight
100%
New
0
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
Vadded+2,429,996$863M
SPGIadded+730,354$385M
MSFTadded+265,350$132M
MCOadded+83,872$42.1M
FERadded+137,238$7.32M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CNIreduced-3,910,012-$407M
CPreduced-2,086,400-$165M
GOOGLreduced-930,000-$164M
GOOGreduced-889,500-$158M
GEreduced-60,516-$15.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001647251-25-000009, largest first. % of portfolio is the value over $50,706,910,931, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,180,376 shares; 2024Q4: 45,999,876 shares; 2025Q1: 47,570,947 shares; 2025Q2: 47,510,431 shares 47,510,431$12.2B24.12%-60,516Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,990,590 shares; 2024Q4: 13,993,637 shares; 2025Q1: 17,299,881 shares; 2025Q2: 17,565,231 shares 17,565,231$8.74B17.23%+265,350Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,797,187 shares; 2024Q4: 16,797,187 shares; 2025Q1: 16,637,562 shares; 2025Q2: 19,067,558 shares 19,067,558$6.77B13.35%+2,429,996Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,246,769 shares; 2024Q4: 13,246,769 shares; 2025Q1: 13,163,107 shares; 2025Q2: 13,246,979 shares 13,246,979$6.64B13.1%+83,872Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,400,077 shares; 2024Q4: 10,400,077 shares; 2025Q1: 10,361,269 shares; 2025Q2: 11,091,623 shares 11,091,623$5.85B11.53%+730,354Timeline
CPCANADIAN PACIFIC KANSAS CITYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,913,285 shares; 2024Q4: 54,913,285 shares; 2025Q1: 54,913,285 shares; 2025Q2: 52,826,885 shares 52,826,885$4.19B8.26%-2,086,400Timeline
CNICANADIAN NATL RY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,437,277 shares; 2024Q4: 29,693,764 shares; 2025Q1: 26,899,078 shares; 2025Q2: 22,989,066 shares 22,989,066$2.39B4.72%-3,910,012Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,927,056 shares; 2024Q4: 16,507,056 shares; 2025Q1: 13,855,735 shares; 2025Q2: 12,966,235 shares 12,966,235$2.3B4.54%-889,500Timeline
FERFERROVIAL NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,095,244 shares; 2024Q4: 19,333,428 shares; 2025Q1: 19,333,428 shares; 2025Q2: 19,470,666 shares 19,470,666$1.04B2.05%+137,238Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,027,410 shares; 2024Q4: 6,027,410 shares; 2025Q1: 4,085,110 shares; 2025Q2: 3,155,110 shares 3,155,110$556M1.1%-930,000Timeline

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001647251-25-000009 base2025-08-14acceptance time not in the bulk data set