TCI Fund Management Ltd: MICROSOFT (MSFT): Quarterly 13F Position History
As of Q1 2026, TCI Fund Management Ltd reported 2,728,412 shares of MICROSOFT (MSFT), worth $1.0B and representing 2.2% of its 13F equity book. Quarter-over-quarter share count change: 14,053,541 (-83.7%) . The position first appeared in Q4 2017 and has been disclosed across 34 13F-HR filings in Pactolio's tracked window.
- 2,728,412Shares Held (Latest Filing)
- $1.0BReported Market Value (Latest Filing)
- 2.2%Portfolio Weight (% of 13F Equity Book)
- 14,053,541Quarter-over-Quarter Share Change
- -$7.1BQuarter-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% | $1.0B | 2.2% | $370.2 |
| Q4 2025 | 16,781,953 | +189,749 | +1.1% | $8.1B | 15.1% | $483.6 |
| Q3 2025 | 16,592,204 | 973,027 | -5.5% | $8.6B | 16.3% | $518.0 |
| Q2 2025 | 17,565,231 | +265,350 | +1.5% | $8.7B | 17.2% | $497.4 |
| Q1 2025 | 17,299,881 | +3,306,244 | +23.6% | $6.5B | 15.0% | $375.4 |
| Q4 2024 | 13,993,637 | +2,003,047 | +16.7% | $5.9B | 13.9% | $421.5 |
| Q3 2024 | 11,990,590 | +1,458,700 | +13.9% | $5.2B | 11.7% | $430.3 |
| Q2 2024 | 10,531,890 | 0 | — | $4.7B | 11.5% | $446.9 |
| Q1 2024 | 10,531,890 | 106,275 | -1.0% | $4.4B | 11.2% | $420.7 |
| Q4 2023 | 10,638,165 | +10,638,165 | — | $4.0B | 11.1% | $376.0 |
| Q3 2023 | 0 | 11,845,241 | -100.0% | $0 | 0.0% | — |
| Q2 2023 | 11,845,241 | 3,453,947 | -22.6% | $4.0B | 12.0% | $340.5 |
| Q1 2023 | 15,299,188 | 6,969,763 | -31.3% | $4.4B | 15.1% | $288.3 |
| Q4 2022 | 22,268,951 | +2,391,274 | +12.0% | $5.3B | 17.8% | $239.8 |
| Q3 2022 | 19,877,677 | +248,642 | +1.3% | $4.6B | 16.2% | $232.9 |
| Q2 2022 | 19,629,035 | +2,364,269 | +13.7% | $5.0B | 16.0% | $256.8 |
| Q1 2022 | 17,264,766 | +581,722 | +3.5% | $5.3B | 14.4% | $308.3 |
| Q4 2021 | 16,683,044 | 0 | — | $5.6B | 12.6% | $336.3 |
| Q3 2021 | 16,683,044 | 3,800,361 | -18.6% | $4.7B | 11.3% | $281.9 |
| Q2 2021 | 20,483,405 | 0 | — | $5.5B | 13.8% | $270.9 |
| Q1 2021 | 20,483,405 | +6,168,906 | +43.1% | $4.8B | 14.0% | $235.8 |
| Q4 2020 | 14,314,499 | 0 | — | $3.2B | 10.4% | $222.4 |
| Q3 2020 | 14,314,499 | 140,941 | -1.0% | $3.0B | 10.8% | $210.3 |
| Q2 2020 | 14,455,440 | +458,722 | +3.3% | $2.9B | 11.7% | $203.5 |
| Q1 2020 | 13,996,718 | +3,316,986 | +31.1% | $2.2B | 10.5% | $157.7 |
| Q4 2019 | 10,679,732 | 0 | — | $1.7B | 7.5% | $157.7 |
| Q3 2019 | 10,679,732 | 5,745,842 | -35.0% | $1.5B | 7.7% | $139.0 |
| Q2 2019 | 16,425,574 | 1,066,000 | -6.1% | $2.2B | 11.9% | $134.0 |
| Q1 2019 | 17,491,574 | 4,326,230 | -19.8% | $2.1B | 13.5% | $117.9 |
| Q4 2018 | 21,817,804 | +8,605,697 | +65.1% | $2.2B | 11.1% | $101.6 |
| Q3 2018 | 13,212,107 | 598,342 | -4.3% | $1.5B | 7.9% | $114.4 |
| Q2 2018 | 13,810,449 | 0 | — | $1.4B | 6.4% | $98.6 |
| Q1 2018 | 13,810,449 | +5,745,100 | +71.2% | $1.3B | 7.0% | $91.3 |
| Q4 2017 | 8,065,349 | — | — | $689.9M | 4.3% | $85.5 |
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 (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 $1.0B.
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.