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TM
Thiel Macro Portfolio holdings
AUM
$419M
This Fund
S&P 500
This Quarter
Est. Return
+13.34%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$279M
AUM Growth
-$375M
(-57%)
Cap. Flow
-$16.1M
Cap. Flow
% of AUM
-5.78%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
16
New
3
Increased
–
Reduced
4
Closed
7
Avg Time Held Equity + Options
2.7
quarters
Top 10 Avg Time Held Equity + Options
1.2
quarters
Top 20 Avg Time Held Equity + Options
2.7
quarters
Avg Time Held Equity only
4.3
quarters
Top 10 Avg Time Held Equity only
4.3
quarters
Top 20 Avg Time Held Equity only
4.3
quarters
Top Buys
No buys this quarter
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI ACWI ex US ETF
ACWX
|
+$8.39M |
| 2 |
Lennar Class A
LEN
|
+$4.67M |
| 3 |
VanEck Junior Gold Miners ETF
GDXJ
|
+$1.6M |
| 4 |
iShares MSCI South Korea ETF
EWY
|
+$1.18M |
| 5 |
GREK
Global X MSCI Greece ETF
GREK
|
+$282K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 99.12% |
| 2 | Consumer Discretionary | 0.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$828B
| $77.7M | 27.85% |
275,000
-625,000
| -69% | -$170M |
2018 Q2
3 quarters
|
|
|
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$828B
| $70.6M | 25.32% |
250,000
-1,075,000
| -81% | -$292M |
2018 Q1
4 quarters
|
|
3
PUT
Invesco QQQ Trust
QQQ
$504B
| $67M | 24.01% |
+372,700
| New | +$63.2M |
2019 Q1
0 quarters
|
|
4
CALL
iShares Russell 2000 Value ETF
IWN
$13.9B
| $30M | 10.75% |
+250,000
| New | +$29.9M |
2019 Q1
0 quarters
|
|
5
PUT
VanEck Semiconductor ETF
SMH
$74.4B
| $18.6M | 6.67% |
+350,000
| New | +$17.3M |
2019 Q1
0 quarters
|
|
|
6
VanEck Junior Gold Miners ETF
GDXJ
$8.17B
| $6.35M | 2.28% |
200,000
-50,000
| -20% | -$1.6M |
2018 Q1
4 quarters
|
|
7
Alerian MLP ETF
AMLP
$12.9B
| $4.51M | 1.62% |
90,000
| – | – |
2018 Q1
4 quarters
|
|
|
8
Lennar Class A
LEN
$18.5B
| $2.46M | 0.88% |
51,650
-103,300
| -67% | -$4.67M |
2018 Q4
1 quarter
|
|
9
VanEck Oil Services ETF
OIH
$1.86B
| $1.72M | 0.62% |
5,000
| – | – |
2017 Q1
8 quarters
|
|
|
10
iShares MSCI ACWI ex US ETF
ACWX
$17.4B
| – | – |
-200,000
| Closed | -$8.39M | – |
|
11
PUT
iShares MSCI Canada ETF
EWC
$7.02B
| – | – |
-100,000
| Closed | -$2.4M | – |
|
|
12
iShares MSCI South Korea ETF
EWY
$25.3B
| – | – |
-20,000
| Closed | -$1.18M | – |
|
|
GREK
13
CALL
Global X MSCI Greece ETF
GREK
$320M
| – | – |
-527,833
| Closed | -$10.9M | – |
|
|
GREK
14
Global X MSCI Greece ETF
GREK
$320M
| – | – |
-13,615
| Closed | -$282K | – |
|
15
PUT
iShares Russell 2000 ETF
IWM
$77.1B
| – | – |
-400,000
| Closed | -$53.6M | – |
|
|
16
CALL
VanEck Oil Services ETF
OIH
$1.86B
| – | – |
-7,500
| Closed | -$2.1M | – |
|
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Thiel Macro's Q1 2019 Portfolio in Review
As of Q1 2019, Thiel Macro held 16 positions worth $279M, down 57% from $654M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Thiel Macro withdrew a net $16.1M in Q1 2019, closing 7 positions and reducing 4 holdings. Its most notable exit was iShares MSCI ACWI ex US ETF, an estimated $8.39M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 99% of assets, up from 99% a quarter earlier, followed by Consumer Discretionary.
- Thiel Macro's biggest Q1 2019 reduction was Lennar Class A, cutting an estimated $4.67M.
- Thiel Macro fully exited iShares MSCI ACWI ex US ETF in Q1 2019, selling an estimated $8.39M.
- Thiel Macro's ten largest holdings make up 100% of its $279M portfolio in Q1 2019.
- Thiel Macro opened 3 new positions and closed 7 in Q1 2019.
- Thiel Macro's portfolio value fell 57% quarter-over-quarter to $279M.
Based on Thiel Macro's 13F filing for Q1 2019, filed 15 May 2019.