TP
Theleme Partners LLP SEC 13F Filing (Q2 2026) — Holdings & Portfolio
Theleme Partners LLPCIK: 0001511881
Momentum followerQuality / disciplined sizingConcentrated strategy
Total reported value
$1.7B
Reporting period: 2026-06-30 · Number of holdings: 10
Theleme Partners LLP disclosed 10 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.7B and a quarterly turnover rate of 34.6%.
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Personality snowflake
- Concentration
- 74.63
- Portfolio Stability
- 34.58
- Momentum
- 100
- Sector conviction
- 63.42
- Diversification
- 18
- Sizing Uniformity
- 91.26
Theleme Partners LLP's disclosed holdings carry a Herfindahl concentration index of 0.187 — mathematically equivalent to about 5 equally-sized positions, well below its 10 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.87), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 10.0 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out FLUT
New buy EQIX
Add MRNA
+0.1% $155.4M
Sold out HOOD
New buy HDB
Trim META
+1.9% $730.1K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 9 holdings (of 10 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MRNA | Moderna Inc | Stock-Healthcare | 33.52% | +6.28% | +0.12% | |
| 2 | META | Meta Platforms Inc-class A | Stock-Comm Services | 15.37% | -1.82% | +1.86% | |
| 3 | UBER | Uber Technologies Inc | Stock-Industrials | 13.70% | -1.55% | +0.42% | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 11.65% | +1.44% | +11.82% | |
| 5 | TRU | Transunion | Stock-Financials | 10.15% | -0.53% | +2.28% | |
| 6 | EQIX | Equinix Inc | Stock-Real Estate | 6.54% | +6.54% | NEW | |
| 7 | EFX | Equifax Inc | Stock-Industrials | 5.41% | -1.08% | +6.12% | |
| 8 | HDB | Hdfc Bank Ltd-adr | Stock-Financials | 2.39% | +2.39% | NEW | |
| 9 | SIFY | Sify Technologies-spon Adr | Stock-Other | 1.26% | +0.17% | — |
Portfolio Performance
Performance for Q3 2026
+50.6%
Performance Last 4 Quarters
+45.3%
- Stdev
- +37.6%
- Beta
- +1.07
- Alpha
- -6.1%
- Max Drawdown
- -42.2%
- Annualized Perf
- +9.6%
- Batting Avg vs S&P
- +36.1%
- Sortino
- +0.84
- Stutzer
- +0.12
- Treynor
- +0.14
- Sterling
- +0.33
- Calmar
- +0.23
- Information Ratio
- -0.13
- Tracking Error
- +35%
- Stdev Down
- +18.4%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +45.3%
- Worst 12 Months
- -39.4%
- Efficiency Ratio
- +0.13
- Sharpe
- +0.41
- Stdev Sectors
- +8.6%
- Skewness
- +1.91
- Kurtosis
- +6.67
- Upside Potential
- +2.66
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 10 | $1.7B | 35 | ||
| 2026 Q1 | 10 | $1.5B | 44 | ||
| 2025 Q4 | 10 | $1.5B | 21 | ||
| 2025 Q3 | 11 | $1.6B | 44 | ||
| 2025 Q2 | 11 | $1.6B | 0 | ||
| 2025 Q1 | 13 | $1.3B | 100 | ||
| 2024 Q4 | 12 | $1.5B | 0 | ||
| 2024 Q3 | 12 | $1.7B | 0 | ||
| 2024 Q2 | 10 | $2.1B | 0 | ||
| 2024 Q1 | 10 | $2.0B | 0 | ||
| 2023 Q4 | 12 | $2.1B | 0 | ||
| 2023 Q3 | 11 | $2.0B | 0 | ||
| 2023 Q2 | 10 | $2.2B | 0 | ||
| 2023 Q1 | 11 | $2.3B | 0 | ||
| 2022 Q4 | 11 | $2.7B | 0 | ||
| 2022 Q3 | 10 | $2.1B | 0 | ||
| 2022 Q2 | 12 | $2.5B | 0 | ||
| 2022 Q1 | 11 | $3.1B | 0 | ||
| 2021 Q4 | 10 | $6.0B | 0 | ||
| 2021 Q3 | 8 | $3.5B | 0 | ||
| 2021 Q2 | 10 | $3.4B | 93 | ||
| 2021 Q1 | 14 | $3.0B | 52 | ||
| 2020 Q4 | 17 | $3.0B | 66 | ||
| 2020 Q3 | 17 | $2.2B | 23 | ||
| 2020 Q2 | 17 | $2.1B | 66 | ||
| 2020 Q1 | 16 | $1.4B | 83 | ||
| 2019 Q4 | 7 | $1.8B | 49 | ||
| 2019 Q3 | 11 | $2.2B | 18 | ||
| 2019 Q2 | 10 | $2.1B | 60 | ||
| 2019 Q1 | 8 | $1.7B | 54 | ||
| 2018 Q4 | 10 | $2.0B | 35 | ||
| 2018 Q3 | 7 | $1.8B | 15 | ||
| 2018 Q2 | 8 | $1.9B | 30 | ||
| 2018 Q1 | 7 | $2.0B | 21 | ||
| 2017 Q4 | 7 | $2.1B | 28 | ||
| 2017 Q3 | 8 | $1.9B | 11 | ||
| 2017 Q2 | 8 | $1.9B | 15 | ||
| 2017 Q1 | 7 | $1.9B | 13 | ||
| 2016 Q4 | 7 | $1.8B | 32 | ||
| 2016 Q3 | 6 | $1.4B | 42 | ||
| 2016 Q2 | 7 | $1.3B | 36 | ||
| 2016 Q1 | 8 | $1.5B | 26 | ||
| 2015 Q4 | 9 | $1.5B | 11 | ||
| 2015 Q3 | 9 | $1.4B | 24 | ||
| 2015 Q2 | 9 | $1.6B | 27 | ||
| 2015 Q1 | 9 | $1.5B | 34 | ||
| 2014 Q4 | 8 | $1.7B | 26 | ||
| 2014 Q3 | 8 | $1.5B | 20 | ||
| 2014 Q2 | 10 | $1.5B | 22 | ||
| 2014 Q1 | 12 | $1.5B | 34 | ||
| 2013 Q4 | 14 | $1.7B | 20 | ||
| 2013 Q3 | 14 | $1.5B | 56 | ||
| 2013 Q2 | 12 | $1.3B | 0 |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Holding changes this quarter
Theleme Partners LLP's most significant position changes for 2026-06-30: New buy: Equinix Inc (EQIX); Sold out: Flutter Entertainment plc (FLUT); Sold out: Robinhood Markets Inc - A (HOOD); New buy: Hdfc Bank Ltd-adr (HDB); Add: Moderna Inc (MRNA) — shares +0.12%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | EQIX | Equinix Inc | +6.5% | NEW | New buy |
| 2 | MRNA | Moderna Inc | +6.3% | +0.12% | Add |
| 3 | HDB | Hdfc Bank Ltd-adr | +2.4% | NEW | New buy |
| 4 | AMZN | Amazon.com Inc | +1.4% | +11.82% | Add |
| 5 | SIFY | Sify Technologies-spon Adr | +0.2% | — | Unchanged |
| 6 | TRU | Transunion | -0.5% | +2.28% | Add |
| 7 | EFX | Equifax Inc | -1.1% | +6.12% | Add |
| 8 | UBER | Uber Technologies Inc | -1.6% | +0.42% | Add |
| 9 | META | Meta Platforms Inc-class A | -1.8% | +1.86% | Add |
| 10 | HOOD | Robinhood Markets Inc - A | -5.3% | EXIT | Sold out |
| 11 | FLUT | Flutter Entertainment plc | -6.6% | EXIT | Sold out |
Filing History
FAQ
What is Theleme Partners LLP and what type of investor is it?
Theleme Partners LLP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.7B, spread across 10 disclosed positions.
What are Theleme Partners LLP's largest equity positions?
Based on the latest 13F filing, Theleme Partners LLP's top holdings by market value are:
1. Moderna Inc (MRNA) — $564.3M (33.5%)
2. Meta Platforms Inc-class A (META) — $258.8M (15.4%)
3. Uber Technologies Inc (UBER) — $230.7M (13.7%)
4. Amazon.com Inc (AMZN) — $196.1M (11.7%)
5. Transunion (TRU) — $171.0M (10.2%)
What changes did Theleme Partners LLP make in its most recent portfolio filing?
In the latest reported quarter, Theleme Partners LLP made 10 notable position adjustments: 2 new positions were initiated, 6 existing holdings were added to, 0 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Equinix Inc (EQIX); Sold out: Flutter Entertainment plc (FLUT); Sold out: Robinhood Markets Inc - A (HOOD); New buy: Hdfc Bank Ltd-adr (HDB); Add: Moderna Inc (MRNA) — shares +0.12%
What sectors does Theleme Partners LLP focus on?
Theleme Partners LLP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 34.0%
• Industrials: 19.4%
• Communication Services: 15.6%
• Financials: 12.7%
• Consumer Discretionary: 11.8%
• Real Estate: 6.6%
Investment Profile
Theleme Partners LLP returned an annualized 9.6% over the trailing 36 months — underperforming the S&P 500 by 6.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.07 (roughly in line with the market) and a 36% quarterly batting average against the index.
Its portfolio is concentrated and moderately active, with 34.0% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 35 over the past 4 quarters — a shift toward more active trading.
It has added to its MRNA position over the past two quarters (+$325.9M, now $564.3M), while trimming EFX over the same stretch (-$18.7M, still holding $91.1M).
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Developer Access
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