TCI Fund Management Ltd — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, TCI Fund Management Ltd initiated 1 new position, increased allocation to 4 existing positions, and trimmed 2 positions. The fund's 13F equity book declined from $53.65B to $45.17B (-15.8% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $53.65BPrior quarter
- $45.17BCurrent quarter
- $-8.48BNet delta
- -15.8%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| ALPHABET INC | GOOGL | 1.56% | History → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| S&P GLOBAL INC | SPGI | +1.73% | +19.04% | History → |
| ALPHABET INC | GOOG | +1.18% | +16.55% | History → |
| VISA INC | V | +2.26% | +9.90% | History → |
| MOODYS CORP | MCO | +1.17% | +7.71% | History → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| MICROSOFT CORP | MSFT | -12.89% | -83.74% | History → |
| CANADIAN PACIFIC KANSAS CITY | CP | 1.56% | -2.38% | History → |
Methodology & FAQ
How TCI Fund Management Ltd Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for TCI Fund Management Ltd against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did TCI Fund Management Ltd initiate in Q1 2026?
TCI Fund Management Ltd established 1 new position in Q1 2026: ALPHABET INC (GOOGL, 1.56%).
Which existing positions saw the largest allocation increases for TCI Fund Management Ltd in Q1 2026?
The largest portfolio-weight increases in existing positions were: S&P GLOBAL INC (SPGI, +1.73% weight, +19.04% shares), ALPHABET INC (GOOG, +1.18% weight, +16.55% shares), VISA INC (V, +2.26% weight, +9.90% shares), MOODYS CORP (MCO, +1.17% weight, +7.71% shares).
Which positions did TCI Fund Management Ltd fully exit in Q1 2026?
TCI Fund Management Ltd fully exited no positions in Q1 2026.
Which existing positions saw the largest allocation reductions for TCI Fund Management Ltd in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: MICROSOFT CORP (MSFT, -12.89% weight, -83.74% shares), CANADIAN PACIFIC KANSAS CITY (CP, 1.56% weight, -2.38% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.