TCI Exits Microsoft, Boosts Alphabet Stake Amid Google Rally

TCI Fund Management, led by activist investor Chris Hohn, has revamped its portfolio in Q2. The firm exited Microsoft Corp. (NASDAQ:MSFT) and increased its stake in Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL). According to a Form 13F filed Aug. 14, TCI held 9.94 million shares of Alphabet Class C and 2.46 million Class A shares as of June 30, worth a combined $4.39 billion.

The firm added 1.08 million Class C shares during the quarter, while its Class A position remained unchanged. Alphabet Class A shares closed at $340.67 on Aug. 20, up 70.55% over the past year, while Class C shares closed at $338.20, up 68.58%. TCI previously urged Alphabet to cut costs and curb spending on long-term ventures such as Waymo.

TCI Fund Management also eliminated its Microsoft position. The firm held 2.73 million Microsoft shares worth about $1.01 billion at the end of March, but Microsoft was absent from the June 30 filing. According to Benzinga Edge Stock Rankings, GOOGL ranks in the 87th percentile for growth, despite weaker short- and medium-term performance.