WhaleCreep

TCI Fund Management Ltd 13F holdings, Q4 2019

Hedge fundSEC filingsCompare with another fundHoldings as of 2019-12-31, filed 2020-02-14

TCI Fund Management Ltd disclosed 17 US equity positions worth $22.6bn in its Q4 2019 13F filing. Its largest position is CHTR at 21.8% of the reported book, followed by GOOG and CANADIAN PAC RY LTD. Versus Q3 2019 it opened 3 new positions, added to 4, reduced 2 and exited 1.

$22.6bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
17
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
21.8%
Largest position
The largest single position as a share of the reported equity book.
94.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
8
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
45
Quarters on file since Q2 2015
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2019: 3 new, 4 added, 2 reduced, 1 exited

17 rows
CHTR CHARTER COMMUNICATIONS INCCommunication Services21.8%$4.9bn10.17m0.0%held
GOOG ALPHABET INCCommunication Services18.5%$4.2bn3.12m−12%reduced
CANADIAN PAC RY LTD no ticker–12.4%$2.8bn10.98m+1.6%added
CNI CANADIAN NATL RY COIndustrials8.2%$1.9bn20.48m+7.2%added
MSFT MICROSOFT CORPTechnology7.5%$1.7bn10.68m0.0%held
RTN1USD RAYTHEON CO–6.6%$1.5bn6.82m+483%added
MCO MOODYS CORPFinancial Services6.3%$1.4bn6.02m0.0%held
ELV ELEVANCE HEALTH INCHealthcare5.3%$1.2bn4.00m−2.0%reduced
UNP UNION PACIFIC CORPIndustrials4.0%$906m5.01m+2.7%added
GOOGL ALPHABET INCCommunication Services3.7%$828m618,0210.0%held
SPGI S&P GLOBAL INCFinancial Services2.4%$541m1.98m0.0%held
UNVREUR UNIVAR SOLUTIONS INC–1.8%$404m16.68m0.0%held
V VISA INCFinancial Services1.0%$222m1.18m0.0%held
NOC NORTHROP GRUMMAN CORPIndustrials0.3%$59.7m173,700–new
TDG TRANSDIGM GROUP INCIndustrials0.2%$48.4m86,480–new
ADSK AUTODESK INCTechnology0.09%$20.7m113,0000.0%held
ADBE ADOBE INCTechnology0.01%$1.1m3,430–new

Exited since Q3 2019

1 row
EFX EQUIFAX INC0.6%$110m

Sector mix

  • Communication Services44.0%
  • Unclassified20.8%
  • Industrials12.7%
  • Financial Services9.7%
  • Technology7.5%
  • Healthcare5.3%

Book over time

Every quarter on file (45)
QuarterPositionsEquity book
Q2 202611$52.8bn
Q1 202610$45.2bn
Q4 20259$53.6bn
Q3 20259$52.7bn
Q2 202510$50.7bn
Q1 202510$43.4bn
Q4 202410$42.4bn
Q3 202410$44.0bn
Q2 202410$40.9bn
Q1 202410$39.7bn
Q4 202311$36.0bn
Q3 20239$27.6bn
Q2 202310$33.7bn
Q1 20239$29.2bn
Q4 202210$29.9bn
Q3 202210$28.6bn
Q2 202213$31.6bn
Q1 202211$36.8bn
Q4 202113$44.4bn
Q3 202113$41.6bn
Q2 202113$40.1bn
Q1 202113$34.4bn
Q4 202013$30.5bn
Q3 202013$27.9bn
Q2 202018$25.2bn
Q1 202018$21.1bn
Q4 201917$22.6bn
Q3 201915$19.3bn
Q2 201913$18.5bn
Q1 201913$15.3bn
Q4 201812$20.0bn
Q3 201814$19.1bn
Q2 201812$21.3bn
Q1 201815$18.0bn
Q4 201715$16.1bn
Q3 201711$14.5bn
Q2 20179$13.3bn
Q1 20177$11.7bn
Q4 20165$9.5bn
Q3 20166$9.0bn
Q2 20166$7.3bn
Q1 20167$5.4bn
Q4 20157$5.0bn
Q3 20156$5.1bn
Q2 20155$4.3bn

Where TCI Fund Management Ltd was early

5 rows
CHTR CHARTER COMMUNICATIONS INC NQ2 20164 of 26936.1%38.4%24Exited by Q2 2022+139%
NSC NORFOLK SOUTHERN CORPQ2 201717 of 2050.3%3.5%6Exited by Q4 2018+48%
CNI CANADIAN NATL RY COQ3 20189 of 1150.8%16.1%32Held at last filing, Q2 2026+33%
VNO VORNADO RLTY TRQ2 20208 of 1260.6%1.2%3Exited by Q1 2021−2.3%
CP CANADIAN PACIFIC KANSAS CITYQ2 20233 of 14913.4%15.1%13Held at last filing, Q2 2026+7.3%

Concentration and tenure

22.4%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
100%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
3
Median completed holding, quarters