TCI FUND MANAGEMENT LTD
TCI FUND MANAGEMENT LTD declares $4.4B in 1 of the 220 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 8.3% of its $52.8B 13F portfolio. Largest positions: Alphabet (0.10% of the company). Over time: $4.4B in 1 of these companies for Q2 2026, against $6.7B in 4 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $384.2M and sold $1.0B of these stocks, at the quarter's prices: a net sale of $625.8M; 1 sold out.
Performance of its AI picks
The AI-stock portfolio TCI FUND MANAGEMENT LTD declared for Q2 2026 (Form 13F), held unchanged, returned -3.7% in Q3 2026 (SMH -7.1%). Over the last 12 months, quarter after quarter: -8.4% (SMH +87.2%). Over three years, quarter after quarter: +47.2% (SMH +325.8%). Over five years, quarter after quarter: +49.0% (SMH +389.8%). Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.
Largest positions
- Alphabet (GOOGL) — $4.4B: 12.4M shares, 0.10% of the company, 8.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
By sector
- Cloud & AI giants — $4.4B, 100% of its AI holdings, 1 company
Biggest changes this quarter
- sold out of Microsoft (MSFT): -$1.0B at the quarter's price
- added to Alphabet (GOOGL): +$384.2M at the quarter's price