TCI Fund Management Ltd: FERROVIAL SE (FER): Quarterly 13F Position History
As of Q1 2026, TCI Fund Management Ltd reported 20,740,214 shares of FERROVIAL SE (FER), worth $1.3B and representing 2.9% of its 13F equity book. The position first appeared in Q2 2024 and has been disclosed across 8 13F-HR filings in Pactolio's tracked window.
- 20,740,214Shares Held (Latest Filing)
- $1.3BReported Market Value (Latest Filing)
- 2.9%Portfolio Weight (% of 13F Equity Book)
- 0Quarter-over-Quarter Share Change
- -$20.2MQuarter-over-Quarter Value Change
- 20,740,214Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 8 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 20,740,214 | 0 | — | $1.3B | 2.9% | $64.0 |
| Q4 2025 | 20,740,214 | +1,269,548 | +6.5% | $1.3B | 2.5% | $65.0 |
| Q3 2025 | 19,470,666 | 0 | — | $1.1B | 2.1% | $57.2 |
| Q2 2025 | 19,470,666 | +137,238 | +0.7% | $1.0B | 2.0% | $53.3 |
| Q1 2025 | 19,333,428 | 0 | — | $861.1M | 2.0% | $44.5 |
| Q4 2024 | 19,333,428 | +238,184 | +1.2% | $812.7M | 1.9% | $42.0 |
| Q3 2024 | 19,095,244 | 0 | — | $820.3M | 1.9% | $43.0 |
| Q2 2024 | 19,095,244 | — | — | $741.8M | 1.8% | $38.8 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did TCI Fund Management Ltd first disclose a FER position in 13F-HR filings?
TCI Fund Management Ltd first reported FERROVIAL SE (FER) on its 13F-HR filing for the period ending 2024-06-30 (Q2 2024). The position has appeared on 8 reported quarters within Pactolio's tracked window.
What was TCI Fund Management Ltd's most recent quarter-over-quarter share-count change in FER?
TCI Fund Management Ltd held the same 20,740,214 shares of FER between Q4 2025 and Q1 2026 — the reported share count was unchanged quarter-over-quarter.
Does the implied price-per-share represent TCI Fund Management Ltd's cost basis in FER?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.