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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
+5.86%
1 Year Est. Return
+91.31%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$863M
AUM Growth
+$113M
Cap. Flow
+$90.9M
Cap. Flow %
10.54%
Top 10 Hldgs %
92.56%
Holding
24
New
12
Increased
4
Reduced
4
Closed
4

Top Buys

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$10.7M
2
GREK
Global X MSCI Greece ETF
GREK
+$5.07M
3
OIH icon
VanEck Oil Services ETF
OIH
+$4.28M
4
GDXJ icon
VanEck Junior Gold Miners ETF
GDXJ
+$3.29M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$46.6M
2
CCJ icon
Cameco
CCJ
+$3.76M
3
AMLP icon
Alerian MLP ETF
AMLP
+$1.52M
4
SVXY icon
ProShares Short VIX Short-Term Futures ETF
SVXY
+$1.28M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 0%
2 Energy 0%
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
$366M 42.46%
1,350,000
+120,000
+10% +$32.4M
QQQ icon
2
PUT
Invesco QQQ Trust
QQQ
$479B
$172M 19.9%
+1,000,000
New +$168M
QQQ icon
3
CALL
Invesco QQQ Trust
QQQ
$479B
$120M 13.93%
700,000
-302,000
-30% -$50.6M
IWM icon
4
CALL
iShares Russell 2000 ETF
IWM
$82.1B
$29.5M 3.42%
+180,000
New +$28.8M
SPY icon
5
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$27.1M 3.15%
+100,000
New +$27M
EEM icon
6
CALL
iShares MSCI Emerging Markets ETF
EEM
$29.2B
$21.7M 2.51%
500,000
-1,015,900
-67% -$47M
OIH icon
7
VanEck Oil Services ETF
OIH
$1.94B
$17.1M 1.98%
32,500
+8,000
+33% +$4.28M
IWM icon
8
PUT
iShares Russell 2000 ETF
IWM
$82.1B
$16.4M 1.9%
+100,000
New +$16M
OIH icon
9
CALL
VanEck Oil Services ETF
OIH
$1.94B
$15.8M 1.83%
30,000
+28,125
+1,500% +$15.1M
FXI icon
10
PUT
iShares China Large-Cap ETF
FXI
$4.29B
$12.9M 1.49%
+300,000
New +$14M
GDXJ icon
11
VanEck Junior Gold Miners ETF
GDXJ
$7.86B
$11.4M 1.33%
350,000
+100,000
+40% +$3.29M
CCJ icon
12
CALL
Cameco
CCJ
$40.8B
$11.3M 1.3%
+1,000,000
New +$10.9M
QQQ icon
13
Invesco QQQ Trust
QQQ
$479B
$11M 1.27%
+63,800
New +$10.7M
VXX
14
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$7.4M 0.86%
+200,000
New +$7.74M
AMLP icon
15
Alerian MLP ETF
AMLP
$12.9B
$5.55M 0.64%
110,000
-30,000
-21% -$1.52M
GREK
16
Global X MSCI Greece ETF
GREK
$314M
$4.74M 0.55%
+173,100
New +$5.07M
XRT icon
17
PUT
State Street SPDR S&P Retail ETF
XRT
$323M
$3.88M 0.45%
+80,000
New +$3.73M
GREK
18
CALL
Global X MSCI Greece ETF
GREK
$314M
$3.52M 0.41%
+128,700
New +$3.77M
EWC icon
19
PUT
iShares MSCI Canada ETF
EWC
$6.26B
$2.85M 0.33%
+100,000
New +$2.84M
SVXY icon
20
ProShares Short VIX Short-Term Futures ETF
SVXY
$206M
$2.54M 0.29%
100,000
-50,000
-33% -$1.28M
BABA icon
21
Alibaba
BABA
$304B
– –
-254,000
Closed -$46.6M
CCJ icon
22
Cameco
CCJ
$40.8B
– –
-345,000
Closed -$3.76M
EWW icon
23
CALL
iShares MSCI Mexico ETF
EWW
$1.97B
– –
-13,500
Closed -$696K
XLF icon
24
CALL
State Street Financial Select Sector SPDR ETF
XLF
$58.4B
– –
-4,020,000
Closed -$111M

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KCM
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ARMT
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CSC
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LC
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KDIA
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ASM
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Thiel Macro's Q2 2018 Portfolio in Review

As of Q2 2018, Thiel Macro held 24 positions worth $863M, up 15% from $749M the previous quarter. Its ten largest holdings account for 93% of the portfolio.

Thiel Macro deployed $90.9M of net new capital in Q2 2018, opening 12 new positions and adding to 4 existing holdings. Its largest new stake was Invesco QQQ Trust: 63,800 shares worth $11M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 0% of assets, down from 6.2% a quarter earlier, followed by Energy.

On the sell side, the largest reduction was Alerian MLP ETF, an estimated $1.52M trimmed.

  • Thiel Macro's largest Q2 2018 buy was Invesco QQQ Trust: 63,800 shares worth $11M.
  • Thiel Macro added most to VanEck Oil Services ETF in Q2 2018, an estimated $4.28M increase.
  • Thiel Macro's biggest Q2 2018 reduction was Alerian MLP ETF, cutting an estimated $1.52M.
  • Thiel Macro fully exited Alibaba in Q2 2018, selling an estimated $46.6M.
  • Thiel Macro's ten largest holdings make up 93% of its $863M portfolio in Q2 2018.
  • Thiel Macro opened 12 new positions and closed 4 in Q2 2018.
  • Thiel Macro's portfolio value rose 15% quarter-over-quarter to $863M.

Based on Thiel Macro's 13F filing for Q2 2018, filed 14 Aug 2018.