Theleme Partners LLP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Theleme Partners LLP initiated 1 new position, increased allocation to 6 existing positions, trimmed 1 position, and exited 1 position entirely. The fund's 13F equity book declined from $1.54B to $1.50B (-2.3% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $1.54BPrior quarter
- $1.50BCurrent quarter
- $-0.04BNet delta
- -2.3%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| ROBINHOOD MKTS INC | HOOD | 5.29% | History → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| UBER TECHNOLOGIES INC | UBER | +4.74% | +60.99% | History → |
| FLUTTER ENTMT PLC | FLUT | +-5.98% | +7.81% | History → |
| AMAZON COM INC | AMZN | +-0.07% | +7.60% | History → |
| EQUIFAX INC | EFX | +-0.66% | +6.92% | History → |
| META PLATFORMS INC | META | +-1.33% | +4.64% | History → |
| TRANSUNION | TRU | +-1.77% | +3.85% | History → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| MODERNA INC | MRNA | 11.72% | -0.42% | History → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| WELLS FARGO & CO | WFC | 12.01% |
Methodology & FAQ
How Theleme Partners LLP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Theleme Partners LLP against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did Theleme Partners LLP initiate in Q1 2026?
Theleme Partners LLP established 1 new position in Q1 2026: ROBINHOOD MKTS INC (HOOD, 5.29%).
Which existing positions saw the largest allocation increases for Theleme Partners LLP in Q1 2026?
The largest portfolio-weight increases in existing positions were: UBER TECHNOLOGIES INC (UBER, +4.74% weight, +60.99% shares), FLUTTER ENTMT PLC (FLUT, +-5.98% weight, +7.81% shares), AMAZON COM INC (AMZN, +-0.07% weight, +7.60% shares), EQUIFAX INC (EFX, +-0.66% weight, +6.92% shares), META PLATFORMS INC (META, +-1.33% weight, +4.64% shares), TRANSUNION (TRU, +-1.77% weight, +3.85% shares).
Which positions did Theleme Partners LLP fully exit in Q1 2026?
Theleme Partners LLP fully exited 1 position in Q1 2026: WELLS FARGO & CO (WFC, last-reported weight 12.01%).
Which existing positions saw the largest allocation reductions for Theleme Partners LLP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: MODERNA INC (MRNA, 11.72% weight, -0.42% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.