Peter Thiel - Thiel Macro LLC Investment Strategy & Portfolio Analysis

According to the SEC 13F filed on Aug 14, 2026, Peter Thiel's Thiel Macro LLC portfolio reflects a highly concentrated, high-conviction, thematic, opportunistic approach across 7 reported 13F positions as of quarter-end Jun 30, 2026. Portfolio returns are primarily driven by a small set of mega-cap compounders, with the top five holdings accounting for approximately 81% of total exposure and Amazon.com, alone contributing ~28%. Economic outcomes are highly concentrated in a narrow set of utilities and consumer cyclical companies names. Exposure to high-growth and technology-oriented segments is moderate relative to peers, with performance instead anchored in durable, cash-generating businesses across utilities, consumer discretionary, and energy. The portfolio maintains moderate turnover, consistent with periodic rebalancing rather than a fully static book. Distinctive traits include Moderate Turnover, Highly Concentrated, Economically Concentrated.