TCI Fund Management

NewMLM1.4% of the bookNewVMC1.4% of the bookAddedGOOG12.3% more sharesAddedSPGI0.3% more sharesAddedFER1.0% more sharesTrimmedCP2.6% fewer shares

Holdings as of Jun 30 (Q2 2026), filed 45 days later (the report at the SEC)

NewGOOGL1.6% of the bookAddedSPGI19.0% more sharesAddedV9.9% more sharesAddedMCO7.7% more sharesAddedGOOG16.6% more sharesTrimmedMSFT83.7% fewer shares

Holdings as of Mar 31 (Q1 2026), filed 45 days later (the report at the SEC)

AddedSPGI5.4% more sharesAddedMSFT1.1% more sharesAddedFER6.5% more sharesTrimmedCNI47.5% fewer sharesTrimmedCP4.4% fewer sharesTrimmedV1.2% fewer shares

Holdings as of Dec 31 (Q4 2025), filed 48 days later (the report at the SEC)

AddedV47.1% more sharesAddedSPGI0.9% more sharesAddedMCO0.5% more sharesTrimmedGOOG41.4% fewer sharesTrimmedMSFT5.5% fewer sharesTrimmedCNI18.4% fewer shares

Holdings as of Sep 30 (Q3 2025), filed 45 days later (the report at the SEC)

AddedV14.6% more sharesAddedSPGI7.0% more sharesAddedMSFT1.5% more sharesAddedMCO0.6% more sharesTrimmedCNI14.5% fewer sharesTrimmedCP3.8% fewer shares

Holdings as of Jun 30 (Q2 2025), filed 45 days later (the report at the SEC)

AddedMSFT23.6% more sharesAddedGE3.4% more sharesTrimmedGOOG16.1% fewer sharesTrimmedGOOGL32.2% fewer sharesTrimmedCNI9.4% fewer sharesTrimmedV0.9% fewer shares

Holdings as of Mar 31 (Q1 2025), filed 45 days later (the report at the SEC)