Top funds
No. 9 in 2025 · Hedge fund · London

TCI

Run by Chris Hohn since 2003. Owns a handful of dominant companies (jet engines, payments, credit ratings) and keeps them for years.
If you’d given them $1,000 on January 1, 2025, by December 31 you’d have
$1,278
27.8% in 2025
The rose 16.4% in 2025 (not counting dividends, the cash some companies pay their owners).
As reported by Institutional Investor, for Jan 1 – Dec 31, 2025
S&P 500 data: S&P Dow Jones Indices LLC, via FRED.

What they own

Biggest bets first. The % is how much of their stock money is in that company. Tap a stock to open its page.
Already owned
Added lately
Sold lately
A full bar is 35% of their money.

Just bought

3
Between April and June, compared with the report before.

Sold

3
Dollar amounts use the price on Jun 30, 2026, or on Mar 31, 2026 for stocks they sold completely.

Year by year

Each calendar year’s result for The Children’s Investment Fund. TCI doesn’t publish its results. These figures are from news reports, which don’t say whether fees were taken out. The reports are mostly Institutional Investor’s and Bloomberg’s. Years without a reliable figure are left blank.
From Jan 1, 2004 to Mar 31, 2025, it grew 17.0% a year on average. Up in 17 of the 20 years shown, down in 3.
No figures found for 2005–2006 and 2014.
2026 · Jan 1 – Mar 31
about −9.4%
2025
+27.8%
2024
+15.0%
2023
+33.0%
2022
−18.0%
2021
+23.3%
2020
about +14%
2019
+40.6%
2018
about +0.9%
2017
+28.3%
Sources: Institutional Investor, ‘Chris Hohn Is a Hedge Fund Manager Like No Other’ · Institutional Investor, ‘Rethinking Chris Hohn’ · Institutional Investor, ‘Chris Hohn’s TCI Continues to Top Activist Funds’ · Institutional Investor, 23rd annual Rich List

Where their money goes

Each square is $1 of every $100 they have in stocks.

Who invests with them

From Form ADV, the form investment firms file with the SEC about their clients, their money and their staff.
About 670 investors
In its 6 private funds.
$77.7 billion in its funds
What its private funds hold. Its shorter form gives no total for everything it manages.
$5 million minimum to join
For The Children’s Investment Master Fund, its biggest fund. Its managers and staff own 18% of it.

Its biggest funds

The Children’s Investment Master Fund
About 438 investors
$70.3 billion
TCI Real Estate Partners Fund III LP
About 69 investors
$2.02 billion
TCI Real Estate Partners Fund II LP
About 59 investors
$1.90 billion
TCI Real Estate Partners Fund IV LP
About 63 investors
$1.89 billion
TCI Real Estate Partners Fund I LP
About 38 investors
$1.10 billion
And 1 smaller fund.
  • Investor counts are approximate, and someone in two of its funds counts twice.
  • TCI files a shorter version of the form, as an “exempt reporting adviser”: it doesn’t give the total money it manages or how many people work there.
From the Form ADV filed by TCI Fund Management Limited on Jun 29, 2026.
View it on SEC.gov

At a glance

Money they have in stocks
$52.8 billion
$52,769,884,406
Stocks they own
10
Their 5 biggest bets
85% of their money
Holdings as of
Jun 30, 2026
Reported on
Aug 14, 2026
Run by
Chris Hohn
Based in
London
Investing since
2003
The original report
SEC.gov ↗︎

Good to know

  • LCH Investments, which tracks hedge funds, estimated that in 2025 it made more money for its investors than any hedge fund had in a single year.
Holdings as of Jun 30, 2026, from TCI’s Form 13F, filed Aug 14, 2026.
View the filing on SEC.gov
Not investment advice. For information and education only. Holdings: SEC Form 13F filings and the funds’ own letters. Returns: as reported by the funds or the press, linked at each number. Investors and money managed: the managers’ Form ADV filings with the SEC. Not affiliated with the SEC or any fund.
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