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TM

Thiel Macro Portfolio holdings

AUM $74.4M
1-Year Est. Return 91.31%
This Fund
S&P 500
This Quarter Est. Return
+4.36%
1 Year Est. Return
+91.31%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$806M
AUM Growth
+$457M
Cap. Flow
+$341M
Cap. Flow %
42.36%
Top 10 Hldgs %
98.13%
Holding
22
New
5
Increased
4
Reduced
2
Closed
6

Top Buys

Rank Stock Value
1
GDX icon
VanEck Gold Miners ETF
GDX
+$90.1M
2
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$2.7M

Top Sells

Rank Stock Value
1
KRE icon
State Street SPDR S&P Regional Banking ETF
KRE
+$11M
2
GREK
Global X MSCI Greece ETF
GREK
+$303K

Sector Composition

Rank Sector Weight
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$236M 29.3%
+940,000
New +$232M
SVXY icon
2
PUT
ProShares Short VIX Short-Term Futures ETF
SVXY
$206M
$178M 22.1%
950,000
– –
IWM icon
3
PUT
iShares Russell 2000 ETF
IWM
$82.1B
$106M 13.19%
717,500
+107,500
+18% +$15.1M
GDX icon
4
VanEck Gold Miners ETF
GDX
$25.6B
$89.5M 11.11%
+3,900,000
New +$90.1M
SPY icon
5
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$50.2M 6.24%
200,000
– –
QQQ icon
6
CALL
Invesco QQQ Trust
QQQ
$479B
$43.6M 5.41%
300,000
+200,000
+200% +$28.7M
QQQ icon
7
PUT
Invesco QQQ Trust
QQQ
$479B
$36.4M 4.51%
250,000
+50,000
+25% +$7.16M
IWM icon
8
CALL
iShares Russell 2000 ETF
IWM
$82.1B
$29.6M 3.68%
+200,000
New +$28.1M
EEM icon
9
PUT
iShares MSCI Emerging Markets ETF
EEM
$29.2B
$11.5M 1.43%
257,500
-175,000
-40% -$7.7M
VXX
10
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$9.25M 1.15%
235,925
-201,575
-46% -$9.36M
GDX icon
11
CALL
VanEck Gold Miners ETF
GDX
$25.6B
$4.59M 0.57%
+200,000
New +$4.62M
OIH icon
12
VanEck Oil Services ETF
OIH
$1.94B
$3.26M 0.4%
6,250
– –
EEM icon
13
iShares MSCI Emerging Markets ETF
EEM
$29.2B
$2.75M 0.34%
+61,400
New +$2.7M
XOP icon
14
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.52B
$1.84M 0.23%
13,500
– –
ITA icon
15
iShares US Aerospace & Defense ETF
ITA
$14.6B
$1.78M 0.22%
20,000
– –
EWZ icon
16
PUT
iShares MSCI Brazil ETF
EWZ
$9.07B
$834K 0.1%
20,000
+2,000
+11% +$78.2K
FXI icon
17
PUT
iShares China Large-Cap ETF
FXI
$4.29B
– –
-420,000
Closed -$16.7M
GREK
18
Global X MSCI Greece ETF
GREK
$314M
– –
-10,000
Closed -$303K
HYG icon
19
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
– –
-83,000
Closed -$7.34M
KRE icon
20
State Street SPDR S&P Regional Banking ETF
KRE
$4.65B
– –
-200,000
Closed -$11M
UVXY icon
21
CALL
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$228M
– –
-14
Closed -$6.82M
XLF icon
22
PUT
State Street Financial Select Sector SPDR ETF
XLF
$58.4B
– –
-312,500
Closed -$7.71M

Similar funds

LL
LMDAGG LLC San Francisco, California $74.7M AUM 111.16% 1-Year Est. Return
KCM
Key Colony Management Little Rock, Arkansas $73.7M AUM 49.85% 1-Year Est. Return
ARMT
Amica Retiree Medical Trust Lincoln, Rhode Island $73.2M AUM 17.33% 1-Year Est. Return
CSC
Cove Street Capital El Segundo, California $76.6M AUM 36% 1-Year Est. Return
LC
Lodbrok Capital London, United Kingdom $77.2M AUM 4.88% 1-Year Est. Return
CM
Certares Management New York $77.3M AUM 12.22% 1-Year Est. Return
KDIA
KPCB DGF II Associates Menlo Park, California $78.6M AUM 104.26% 1-Year Est. Return
ASM
ATW SPAC Management New York $79.2M AUM 10.61% 1-Year Est. Return

Thiel Macro's Q3 2017 Portfolio in Review

As of Q3 2017, Thiel Macro held 22 positions worth $806M, up 131% from $349M the previous quarter. Its ten largest holdings account for 98% of the portfolio.

Thiel Macro deployed $341M of net new capital in Q3 2017, opening 5 new positions and adding to 4 existing holdings. Its largest new stake was VanEck Gold Miners ETF: 3,900,000 shares worth $89.5M.

On the sell side, the most notable exit was State Street SPDR S&P Regional Banking ETF, an estimated $11M sold.

  • Thiel Macro's largest Q3 2017 buy was VanEck Gold Miners ETF: 3,900,000 shares worth $89.5M.
  • Thiel Macro fully exited State Street SPDR S&P Regional Banking ETF in Q3 2017, selling an estimated $11M.
  • Thiel Macro's ten largest holdings make up 98% of its $806M portfolio in Q3 2017.
  • Thiel Macro opened 5 new positions and closed 6 in Q3 2017.
  • Thiel Macro's portfolio value rose 131% quarter-over-quarter to $806M.

Based on Thiel Macro's 13F filing for Q3 2017, filed 14 Nov 2017.