TCI Fund Management Ltd — MICROSOFT CORP MSFT: Quarterly 13F Position History
TCI Fund Management Ltd has reported MICROSOFT CORP (MSFT) on 34 13F-HR filings in Pactolio's tracked window, first appearing in Q4 2017. As of Q1 2026, the position is sized at 2,728,412 shares ($1.01B market value, 2.24% of the equity book). Quarter-over-quarter share count change: 14,053,541 (-83.7%) .
- 2,728,412Shares Held (Latest Filing)
- $1.01BReported Market Value (Latest Filing)
- 2.24%Portfolio Weight (% of 13F Equity Book)
- 14,053,541Quarter-over-Quarter Share Change
- -$7.11BQuarter-over-Quarter Value Change
- 22,268,951Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 34 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 2,728,412 | 14,053,541 | -83.7% | $1.01B | 2.24% | $370.17 |
| Q4 2025 | 16,781,953 | +189,749 | +1.1% | $8.12B | 15.13% | $483.62 |
| Q3 2025 | 16,592,204 | 973,027 | -5.5% | $8.59B | 16.31% | $517.95 |
| Q2 2025 | 17,565,231 | +265,350 | +1.5% | $8.74B | 17.23% | $497.41 |
| Q1 2025 | 17,299,881 | +3,306,244 | +23.6% | $6.49B | 14.97% | $375.39 |
| Q4 2024 | 13,993,637 | +2,003,047 | +16.7% | $5.90B | 13.91% | $421.50 |
| Q3 2024 | 11,990,590 | +1,458,700 | +13.9% | $5.16B | 11.72% | $430.30 |
| Q2 2024 | 10,531,890 | 0 | — | $4.71B | 11.50% | $446.95 |
| Q1 2024 | 10,531,890 | 106,275 | -1.0% | $4.43B | 11.17% | $420.72 |
| Q4 2023 | 10,638,165 | +10,638,165 | — | $4.00B | 11.12% | $376.04 |
| Q3 2023 | 0 | 11,845,241 | -100.0% | $0 | 0.00% | — |
| Q2 2023 | 11,845,241 | 3,453,947 | -22.6% | $4.03B | 11.98% | $340.54 |
| Q1 2023 | 15,299,188 | 6,969,763 | -31.3% | $4.41B | 15.10% | $288.30 |
| Q4 2022 | 22,268,951 | +2,391,274 | +12.0% | $5.34B | 17.84% | $239.82 |
| Q3 2022 | 19,877,677 | +248,642 | +1.3% | $4.63B | 16.20% | $232.90 |
| Q2 2022 | 19,629,035 | +2,364,269 | +13.7% | $5.04B | 15.95% | $256.83 |
| Q1 2022 | 17,264,766 | +581,722 | +3.5% | $5.32B | 14.45% | $308.31 |
| Q4 2021 | 16,683,044 | 0 | — | $5.61B | 12.63% | $336.32 |
| Q3 2021 | 16,683,044 | 3,800,361 | -18.6% | $4.70B | 11.29% | $281.92 |
| Q2 2021 | 20,483,405 | 0 | — | $5.55B | 13.84% | $270.90 |
| Q1 2021 | 20,483,405 | +6,168,906 | +43.1% | $4.83B | 14.02% | $235.77 |
| Q4 2020 | 14,314,499 | 0 | — | $3.18B | 10.45% | $222.42 |
| Q3 2020 | 14,314,499 | 140,941 | -1.0% | $3.01B | 10.80% | $210.33 |
| Q2 2020 | 14,455,440 | +458,722 | +3.3% | $2.94B | 11.67% | $203.51 |
| Q1 2020 | 13,996,718 | +3,316,986 | +31.1% | $2.21B | 10.48% | $157.71 |
| Q4 2019 | 10,679,732 | 0 | — | $1.68B | 7.45% | $157.70 |
| Q3 2019 | 10,679,732 | 5,745,842 | -35.0% | $1.48B | 7.70% | $139.03 |
| Q2 2019 | 16,425,574 | 1,066,000 | -6.1% | $2.20B | 11.87% | $133.96 |
| Q1 2019 | 17,491,574 | 4,326,230 | -19.8% | $2.06B | 13.48% | $117.94 |
| Q4 2018 | 21,817,804 | +8,605,697 | +65.1% | $2.22B | 11.09% | $101.57 |
| Q3 2018 | 13,212,107 | 598,342 | -4.3% | $1.51B | 7.91% | $114.37 |
| Q2 2018 | 13,810,449 | 0 | — | $1.36B | 6.40% | $98.61 |
| Q1 2018 | 13,810,449 | +5,745,100 | +71.2% | $1.26B | 7.01% | $91.27 |
| Q4 2017 | 8,065,349 | — | — | $689.9M | 4.28% | $85.54 |
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 MSFT position in 13F-HR filings?
TCI Fund Management Ltd first reported MICROSOFT CORP (MSFT) on its 13F-HR filing for the period ending 2017-12-31 (Q4 2017). The position has appeared on 34 reported quarters within Pactolio's tracked window.
What was TCI Fund Management Ltd's most recent quarter-over-quarter share-count change in MSFT?
Between Q4 2025 and Q1 2026, TCI Fund Management Ltd reduced its MSFT position by 14,053,541 shares (-83.7%), leaving 2,728,412 shares at a market value of $1.01B.
Does the implied price-per-share represent TCI Fund Management Ltd's cost basis in MSFT?
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.