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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
+2.98%
1 Year Est. Return
+91.31%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$369M
AUM Growth
+$90.5M
Cap. Flow
+$83.5M
Cap. Flow %
22.62%
Top 10 Hldgs %
98.87%
Holding
16
New
7
Increased
1
Reduced
4
Closed
4

Top Buys

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$3.98M

Top Sells

Rank Stock Value
1
GDXJ icon
VanEck Junior Gold Miners ETF
GDXJ
+$3.05M
2
LEN icon
Lennar Class A
LEN
+$2.46M
3
AMLP icon
Alerian MLP ETF
AMLP
+$989K
4
OIH icon
VanEck Oil Services ETF
OIH
+$779K

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 0%
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
$159M 42.91%
541,000
+266,000
+97% +$76.6M
XLP icon
2
PUT
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.9B
$69.1M 18.71%
+1,190,000
New +$68.1M
SPY icon
3
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$37.5M 10.15%
128,000
-122,000
-49% -$35.1M
IYT icon
4
PUT
iShares US Transportation ETF
IYT
$2.27B
$36.7M 9.93%
+780,000
New +$36.8M
EEM icon
5
PUT
iShares MSCI Emerging Markets ETF
EEM
$29.2B
$21.5M 5.81%
+500,000
New +$21.2M
EMB icon
6
PUT
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.7B
$14.2M 3.83%
+125,000
New +$13.8M
VXX icon
7
PUT
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$146M
$13.5M 3.65%
+8,103
New +$14.4M
EWA icon
8
PUT
iShares MSCI Australia ETF
EWA
$1.44B
$6.76M 1.83%
+300,000
New +$6.57M
QQQ icon
9
Invesco QQQ Trust
QQQ
$479B
$4.04M 1.09%
+21,630
New +$3.98M
GDXJ icon
10
VanEck Junior Gold Miners ETF
GDXJ
$7.86B
$3.5M 0.95%
100,000
-100,000
-50% -$3.05M
AMLP icon
11
Alerian MLP ETF
AMLP
$12.9B
$3.45M 0.93%
70,000
-20,000
-22% -$989K
OIH icon
12
VanEck Oil Services ETF
OIH
$1.94B
$741K 0.2%
2,500
-2,500
-50% -$779K
IWN icon
13
CALL
iShares Russell 2000 Value ETF
IWN
$14.5B
– –
-250,000
Closed -$30M
LEN icon
14
Lennar Class A
LEN
$20.4B
– –
-51,650
Closed -$2.46M
QQQ icon
15
PUT
Invesco QQQ Trust
QQQ
$479B
– –
-372,700
Closed -$67M
SMH icon
16
PUT
VanEck Semiconductor ETF
SMH
$71.8B
– –
-350,000
Closed -$18.6M

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LL
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KCM
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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 Q2 2019 Portfolio in Review

As of Q2 2019, Thiel Macro held 16 positions worth $369M, up 32% from $279M the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Thiel Macro deployed $83.5M of net new capital in Q2 2019, opening 7 new positions and adding to 1 existing holding. Its largest new stake was Invesco QQQ Trust: 21,630 shares worth $4.04M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 0% of assets, down from 0.88% a quarter earlier.

On the sell side, the largest reduction was VanEck Junior Gold Miners ETF, an estimated $3.05M trimmed.

  • Thiel Macro's largest Q2 2019 buy was Invesco QQQ Trust: 21,630 shares worth $4.04M.
  • Thiel Macro's biggest Q2 2019 reduction was VanEck Junior Gold Miners ETF, cutting an estimated $3.05M.
  • Thiel Macro fully exited Lennar Class A in Q2 2019, selling an estimated $2.46M.
  • Thiel Macro's ten largest holdings make up 99% of its $369M portfolio in Q2 2019.
  • Thiel Macro opened 7 new positions and closed 4 in Q2 2019.
  • Thiel Macro's portfolio value rose 32% quarter-over-quarter to $369M.

Based on Thiel Macro's 13F filing for Q2 2019, filed 14 Aug 2019.