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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
+13.34%
1 Year Est. Return
+91.31%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$279M
AUM Growth
-$375M
Cap. Flow
-$437M
Cap. Flow %
-156.52%
Top 10 Hldgs %
100%
Holding
16
New
3
Increased
–
Reduced
4
Closed
7

Top Buys

No buys this quarter

Top Sells

Rank Stock Value
1
ACWX icon
iShares MSCI ACWI ex US ETF
ACWX
+$8.39M
2
LEN icon
Lennar Class A
LEN
+$4.67M
3
GDXJ icon
VanEck Junior Gold Miners ETF
GDXJ
+$1.6M
4
EWY icon
iShares MSCI South Korea ETF
EWY
+$1.18M
5
GREK
Global X MSCI Greece ETF
GREK
+$282K

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 0.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$77.7M 27.85%
275,000
-625,000
-69% -$170M
SPY icon
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$70.6M 25.32%
250,000
-1,075,000
-81% -$292M
QQQ icon
3
PUT
Invesco QQQ Trust
QQQ
$479B
$67M 24.01%
+372,700
New +$63.2M
IWN icon
4
CALL
iShares Russell 2000 Value ETF
IWN
$14.5B
$30M 10.75%
+250,000
New +$29.9M
SMH icon
5
PUT
VanEck Semiconductor ETF
SMH
$71.8B
$18.6M 6.67%
+350,000
New +$17.3M
GDXJ icon
6
VanEck Junior Gold Miners ETF
GDXJ
$7.86B
$6.35M 2.28%
200,000
-50,000
-20% -$1.6M
AMLP icon
7
Alerian MLP ETF
AMLP
$12.9B
$4.51M 1.62%
90,000
– –
LEN icon
8
Lennar Class A
LEN
$20.4B
$2.46M 0.88%
51,650
-103,300
-67% -$4.67M
OIH icon
9
VanEck Oil Services ETF
OIH
$1.94B
$1.72M 0.62%
5,000
– –
ACWX icon
10
iShares MSCI ACWI ex US ETF
ACWX
$11.7B
– –
-200,000
Closed -$8.39M
EWC icon
11
PUT
iShares MSCI Canada ETF
EWC
$6.26B
– –
-100,000
Closed -$2.4M
EWY icon
12
iShares MSCI South Korea ETF
EWY
$23.8B
– –
-20,000
Closed -$1.18M
GREK
13
CALL
Global X MSCI Greece ETF
GREK
$314M
– –
-527,833
Closed -$10.9M
GREK
14
Global X MSCI Greece ETF
GREK
$314M
– –
-13,615
Closed -$282K
IWM icon
15
PUT
iShares Russell 2000 ETF
IWM
$82.1B
– –
-400,000
Closed -$53.6M
OIH icon
16
CALL
VanEck Oil Services ETF
OIH
$1.94B
– –
-7,500
Closed -$2.1M

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KCM
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ARMT
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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
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KDIA
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ASM
ATW SPAC Management New York $79.2M AUM 10.61% 1-Year Est. Return

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 $437M 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 Consumer Discretionary at 0.88% of assets, down from 0.9% a quarter earlier.

  • 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.