Chris Hohn’s Hedge Fund Had an Incredible 2025. These Top Holdings Crushed the SPY

Core Insights - TCI Fund Management, led by Chris Hohn, achieved a remarkable gain of $18.9 billion in 2025, indicating strong performance and potential for continued success in 2026 [2][8] Company Analysis: GE Aerospace - GE Aerospace is the largest position in TCI's portfolio, making up over 27% of the holdings, and was the best performer with shares increasing by more than 50% last year [4][8] - Over the past two years, GE Aerospace shares have surged nearly 180%, although they experienced a correction of just over 10% in January 2026 [4][5] - Analysts, including Citi, see significant upside potential for GE Aerospace, projecting a path towards a $1 trillion market cap, which may be conservative given its strong position in the jet engine market [6] - The company is expected to grow at double-digit percentage points with a price target of $380.00 per share, suggesting it could be an opportunistic buy following recent weakness [6][7] - GE Aerospace benefits from a packed backlog, positive margin trajectory, and ongoing innovation, with shares trading at 36.2 times trailing price-to-earnings (P/E), which appears attractive relative to future growth prospects [7]