Explore the reported holdings and ERM3 decomposition of this investment book. The residual is the return remaining after the model's specified market, sector and subsector exposures. It does not establish predictive manager skill.
Modeled AUM
$1.7B
Holdings
8
Top-10 weight
100%
Modeled AUM is the sum of disclosed long US equity positions that join the ERM3 universe — not firm-wide AUM. 13F books omit shorts, most derivatives, and non-US holdings.
Evidence
13F · disclosed-long analysis
Holdings as of
2026-06-30
Filed
2026-08-13
Model
ERM3 v3.0
Form 13F discloses long US positions only, on a delayed filing schedule; short positions and most derivatives are not reported.
Selection signature
Selection-driven
65% of Theleme Partners LLP's risk is stock-specific over the full monthly history of the reported 13F book — the structural read. Stock selection added 2% of the trailing return (which swings with the window). The rest is buyable market, sector, and style exposure — a descriptive read, not a recommendation.
Risk decomposition
This manager
28%
65%
Tracked-pension composite · 11 mgrs
73%
21%
MarketSectorSubsectorStyle tiltResidual risk
At a glance
Selection signature
65% of risk
Selection-driven
Replicable exposure
34%
Balanced
Mandate style
Mid-Cap Blend
Multi-style
Concentration
eff. N 5.2
Concentrated
Peer rank · Large tier
#44 / 1720
Return attribution
AITheleme Partners LLP's +17.4% trailing-year return was led by market beta (+29.2% market); stock selection contributed +0.3%.
Layer
Detail
1M
3M
6M
1Y
Gross return
total realized
+11.5%
+16.2%
+16.3%
+17.4%
− Market
broad-market beta
-1.5%
+22.3%
+16.8%
+29.2%
− Sector
sector timing
+0.9%
-5.1%
-7.5%
2 · Stock-selection residual
Residual return is the component remaining after the specified model exposures. It depends on the model and selected period and does not establish future outperformance.
Stock-selection return
+0.3%
trailing, gross — residual after market / sector / subsector
Residual risk share
88%
stock-specific share of monthly portfolio variance · trailing 12 months
Return from selection
2%
of gross return this window
Gross, holdings-derived model outputs. Fees, implementation and unobserved positions can affect actual strategy outcomes.
4 · Mandate fit
Dominant style
Mid-Cap Blend
Style concentration (HHI)
0.40
Effective styles
2.5
Effective N (positions)
5.2
5 · Peer context
#44 / 1720
In the Large AUM cohort by top10 weight sum (1m).
100% of reported AUM is in the ERM3 model universe; attribution and residual shares cover that sleeve.
Run this on your managers
This is a live example. Send us a roster — 13F managers or your own holdings sleeves — and we'll return a Manager Skill Review and a board-ready IC memo for each. Print or PDF this page for the memo format.
Live data from SEC Form 13F via the RiskModels ERM3 model, filed 2026-08-13. Figures are gross, holdings-derived, and within-mandate. Informational use only — not investment advice.
Explore the reported holdings and ERM3 decomposition of this investment book. The residual is the return remaining after the model's specified market, sector and subsector exposures. It does not establish predictive manager skill.
Modeled AUM
$1.7B
Holdings
8
Top-10 weight
100%
Modeled AUM is the sum of disclosed long US equity positions that join the ERM3 universe — not firm-wide AUM. 13F books omit shorts, most derivatives, and non-US holdings.
Evidence
13F · disclosed-long analysis
Holdings as of
2026-06-30
Filed
2026-08-13
Model
ERM3 v3.0
Form 13F discloses long US positions only, on a delayed filing schedule; short positions and most derivatives are not reported.
Selection signature
Selection-driven
65% of Theleme Partners LLP's risk is stock-specific over the full monthly history of the reported 13F book — the structural read. Stock selection added 2% of the trailing return (which swings with the window). The rest is buyable market, sector, and style exposure — a descriptive read, not a recommendation.
Risk decomposition
This manager
28%
65%
Tracked-pension composite · 11 mgrs
73%
21%
MarketSectorSubsectorStyle tiltResidual risk
At a glance
Selection signature
65% of risk
Selection-driven
Replicable exposure
34%
Balanced
Mandate style
Mid-Cap Blend
Multi-style
Concentration
eff. N 5.2
Concentrated
Peer rank · Large tier
#44 / 1720
Return attribution
AITheleme Partners LLP's +17.4% trailing-year return was led by market beta (+29.2% market); stock selection contributed +0.3%.
Layer
Detail
1M
3M
6M
1Y
Gross return
total realized
+11.5%
+16.2%
+16.3%
+17.4%
− Market
broad-market beta
-1.5%
+22.3%
+16.8%
+29.2%
− Sector
sector timing
+0.9%
-5.1%
-7.5%
2 · Stock-selection residual
Residual return is the component remaining after the specified model exposures. It depends on the model and selected period and does not establish future outperformance.
Stock-selection return
+0.3%
trailing, gross — residual after market / sector / subsector
Residual risk share
88%
stock-specific share of monthly portfolio variance · trailing 12 months
Return from selection
2%
of gross return this window
Gross, holdings-derived model outputs. Fees, implementation and unobserved positions can affect actual strategy outcomes.
4 · Mandate fit
Dominant style
Mid-Cap Blend
Style concentration (HHI)
0.40
Effective styles
2.5
Effective N (positions)
5.2
5 · Peer context
#44 / 1720
In the Large AUM cohort by top10 weight sum (1m).
100% of reported AUM is in the ERM3 model universe; attribution and residual shares cover that sleeve.
Run this on your managers
This is a live example. Send us a roster — 13F managers or your own holdings sleeves — and we'll return a Manager Skill Review and a board-ready IC memo for each. Print or PDF this page for the memo format.
Live data from SEC Form 13F via the RiskModels ERM3 model, filed 2026-08-13. Figures are gross, holdings-derived, and within-mandate. Informational use only — not investment advice.
-7.6%
− Subsector
industry timing
-0.4%
-0.9%
-3.6%
-4.0%
= Buyable exposure
replicable in ETFs
-1.1%
+16.3%
+5.7%
+17.6%
Stock selection (residual return)
after the specified market/sector/subsector exposures
+10.0%
-1.1%
+10.1%
+0.3%
Risk attribution
AI65% of the book's risk is stock-specific; the rest is broad-market (28%) and sector exposure.
Layer
Detail
Full
Recent
− Market
broad-market beta
28%
10%
− Sector
sector exposure
4%
1%
− Subsector
industry exposure
2%
0%
= Buyable exposure
replicable
34%
12%
Residual risk share
stock-specific share of variance — where selection can show up