Chris Hohn - TCI Fund Management Investment Strategy (Jun 30, 2025)


As of Jun 30, 2025, the TCI Fund Management portfolio managed by Chris Hohn demonstrates a sophisticated investment approach with 17 positions and an average holding period of 1879 quarters. The strategy focuses on Communication Services, Financial Services, Healthcare, Industrials, Real Estate, Technology sectors with a typical position size of 11.6% of the portfolio.


The portfolio's risk management approach includes a maximum position size of 11.56% and sector diversification of 6%, exemplified by the case study of GE AEROSPACE (GE). This strategic framework provides insights into Chris Hohn's investment philosophy, risk management practices, and long-term value creation approach.

Investment Strategy Metrics

Key metrics revealing investment style, risk management, and performance characteristics

MetricValueCategoryDescription
Holding Period5.1 yearsStyleAverage duration positions are maintained
Position Count17StyleNumber of active positions in portfolio
Position Size11.6%RiskTypical allocation per position
Win Rate64.0%PerformancePercentage of profitable positions
Average Return3291.1%PerformanceMean return across positions
Sharpe Ratio0.17PerformanceReturn per unit of risk taken

Investment Case Study: GE AEROSPACE (GE)

6/30/2024 - 11/4/2025

Performance Metrics

Total Return: 30.20%

Holding Period: 492 days

Max Position Size: $12,228,709,835.00

Position Weight: 20.72%

Key Events

6/30/2024: INCREASE(1,371,161.00 shares) @ $158.97
12/31/2024: DECREASE(-2,180,500.00 shares) @ $166.79
3/31/2025: INCREASE(1,571,071.00 shares) @ $200.15
6/30/2025: DECREASE(-60,516.00 shares) @ $257.39

Investment Thesis

Entry Context: Initial position established based on fundamental analysis

Sector Conditions: Favorable market conditions in the sector

Risk Factors:
  • Market volatility
  • Sector-specific risks

Key Learnings

  • Position sizing is critical for portfolio management
  • Important to monitor sector exposure

Sector Allocations