Billionaire Chris Hohn’s 13-Year Winning Streak at TCI Ends With Fund Slumping 18%
- Sell off in equities hurt bets such as Alphabet and Microsoft
- Last year’s loss was the second since the fund started in 2004
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Famed activist investor and philanthropist Chris Hohn’s fund lost money last year, breaking its streak of 13 straight profitable years as stocks tumbled.
His TCI Fund declined by 18%, according to a person with knowledge of the matter. It was the fund’s second annual loss since it launched in 2004, said the person, who asked not to be identified because the details are private. The loss was caused by the firm’s top bets such as Alphabet Inc and Microsoft Corp., which plunged as growth stocks sold off amid rising interest rates last year.