Sir Christopher Hohn’s TCI (The Children’s Investment Fund), returned 0.8% net for the first quarter, compared to the MSCI World Index’s -4.8% return. On an annualized basis since inception, TCI has returned 17% net, versus 8% for the benchmark. The fund has generated 2,216% alpha versus the MSCI since its inception.
The Master Fund had $61 billion in assets under management at the end of March, according to an investor letter obtained by Hedge Fund Alpha.
Also see These Were TCI’s Top Three Contributors in Q1 2024 [Exclusive And In Depth]
As of the end of Q1, TCI’s top positions were
- GE Aerospace (BVMF:GEOO34)
- Safran (EPA:SAF)
- Airbus (EPA:AIR)
- Microsoft (NASDAQ:MSFT)
- Moody’s (NYSE:MCO)
- Vinci (EPA:DG)
- Visa (NYSE:V)
- S&P Global (NYSE:SPGI)
- Ferrovial (NASDAQ:FER)
- Canadian Pacific Kansas City (NYSE:CP)
- Alphabet (NASDAQ:GOOGL)
- Canadian National (NYSE:CNI)
- Cellnex (BME:CLNX)
- Aena (BME:AENA
The fund had 38% of its gross exposure in aerospace, 22% in infrastructure, 18% in information services, 15% in technology, 10% in railroads, 9% in payments, and 1% in real estate debt.
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