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TM
Thiel Macro Portfolio holdings
AUM
$419M
This Fund
S&P 500
This Quarter
Est. Return
-0.08%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$516M
AUM Growth
-$290M
(-36%)
Cap. Flow
-$92.1M
Cap. Flow
% of AUM
-17.84%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
17
New
1
Increased
2
Reduced
3
Closed
9
Avg Time Held Equity + Options
3
quarters
Top 10 Avg Time Held Equity + Options
1.8
quarters
Top 20 Avg Time Held Equity + Options
2.5
quarters
Avg Time Held Equity only
3
quarters
Top 10 Avg Time Held Equity only
3
quarters
Top 20 Avg Time Held Equity only
3
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Oil Services ETF
OIH
|
+$3.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Gold Miners ETF
GDX
|
+$88.7M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$2.84M |
| 3 |
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
|
+$1.84M |
| 4 |
iShares US Aerospace & Defense ETF
ITA
|
+$1.78M |
Sector Composition
| Rank | Sector | Weight |
|---|
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
ProShares Short VIX Short-Term Futures ETF
SVXY
$262M
| $244M | 47.19% |
950,000
| – | – |
2017 Q2
2 quarters
|
|
|
2
CALL
iShares MSCI Emerging Markets ETF
EEM
$30.6B
| $118M | 22.82% |
+2,500,000
| New | +$116M |
2017 Q4
0 quarters
|
|
3
CALL
Invesco QQQ Trust
QQQ
$504B
| $109M | 21.12% |
700,000
+400,000
| +133% | +$61.1M |
2017 Q2
2 quarters
|
|
|
4
PUT
Invesco QQQ Trust
QQQ
$504B
| $31.2M | 6.03% |
200,000
-50,000
| -20% | -$7.63M |
2017 Q2
2 quarters
|
|
|
VXX
5
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $6.59M | 1.28% |
235,925
| – | – |
2014 Q4
12 quarters
|
|
|
6
VanEck Oil Services ETF
OIH
$1.86B
| $6.51M | 1.26% |
12,500
+6,250
| +100% | +$3.1M |
2017 Q1
3 quarters
|
|
|
7
CALL
VanEck Gold Miners ETF
GDX
$25.9B
| $1.16M | 0.23% |
50,000
-150,000
| -75% | -$3.41M |
2017 Q3
1 quarter
|
|
8
PUT
iShares MSCI Brazil ETF
EWZ
$9.96B
| $405K | 0.08% |
10,000
-10,000
| -50% | -$405K |
2017 Q2
2 quarters
|
|
|
9
iShares MSCI Emerging Markets ETF
EEM
$30.6B
| – | – |
-61,400
| Closed | -$2.84M | – |
|
|
10
PUT
iShares MSCI Emerging Markets ETF
EEM
$30.6B
| – | – |
-257,500
| Closed | -$11.5M | – |
|
|
11
VanEck Gold Miners ETF
GDX
$25.9B
| – | – |
-3,900,000
| Closed | -$88.7M | – |
|
|
12
iShares US Aerospace & Defense ETF
ITA
$12B
| – | – |
-20,000
| Closed | -$1.78M | – |
|
13
CALL
iShares Russell 2000 ETF
IWM
$77.1B
| – | – |
-200,000
| Closed | -$29.6M | – |
|
|
14
PUT
iShares Russell 2000 ETF
IWM
$77.1B
| – | – |
-717,500
| Closed | -$106M | – |
|
15
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$828B
| – | – |
-940,000
| Closed | -$236M | – |
|
|
16
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$828B
| – | – |
-200,000
| Closed | -$50.2M | – |
|
|
17
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$4.01B
| – | – |
-13,500
| Closed | -$1.84M | – |
|
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Thiel Macro's Q4 2017 Portfolio in Review
As of Q4 2017, Thiel Macro held 17 positions worth $516M, down 36% from $806M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Thiel Macro withdrew a net $92.1M in Q4 2017, closing 9 positions and reducing 3 holdings. Its most notable exit was VanEck Gold Miners ETF, an estimated $88.7M position sold in full.
Against the trend, Thiel Macro added an estimated $3.1M to VanEck Oil Services ETF.
- Thiel Macro added most to VanEck Oil Services ETF in Q4 2017, an estimated $3.1M increase.
- Thiel Macro fully exited VanEck Gold Miners ETF in Q4 2017, selling an estimated $88.7M.
- Thiel Macro's ten largest holdings make up 100% of its $516M portfolio in Q4 2017.
- Thiel Macro opened 1 new position and closed 9 in Q4 2017.
- Thiel Macro's portfolio value fell 36% quarter-over-quarter to $516M.
Based on Thiel Macro's 13F filing for Q4 2017, filed 14 Feb 2018.